Is CMSTrader a scam?

http://www.cmstrader.com     

CMSTrader is a scam broker whose domain is for sale currently.

As per information we have, CMSTrader claimed to be registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with license number 1606IBC2018. However, our search for this broker in SVG FSA registry did not yield any results. In addition, CMSTrader's domain is for sale now, which is a red flag, as a website of a broker is necessary for displaying regulatory status and facilitating trading.

Regarding your question, CMSTrader is a scam subject to no rule and oversight. Letting this broker hold and control your funds or trading with it is very risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors avoid unlicensed brokers like CMSTrader and opt for fully regulated ones instead.