How and why CFD1000 deceived traders

Big money always involves risks of big losses and attracts the most sophisticated types of deception. Unfortunately, Forex is not an exception. Some brokers that enable traders to make online currency transactions turn out to be scammers. Such companies abuse the trust of clients, playing against traders and their money.

Forex fraud is an unlawful act of a broker aimed at the misappropriation of the investor’s trading deposit.

CFD1000 is another disappointing broker. The company vanished, leaving behind a train of negative comments from deceived traders. The broker had been using a common fraudulent scheme – appropriating clients’ money.

What was wrong with CFD1000 from the very beginning

CFD1000 was opened in 2012 and registered in England. It was headquartered in Brussels. At first glance, CFD1000 seemed to be an ordinary broker allowing traders to work with currency pairs, commodities, indices, and stock CFDs. CFD1000 claimed it cooperated with the world's largest banks. However, after a closer look, one could immediately suspect that something was just not right.

• The website was extremely uninformative
• No regulator
• Minimum deposit started from $500, for a VIP-account – from $25,000
• The claimed training page was never found on the website
• CFD1000 was forbidden to operate in several countries
• Disadvantages significantly prevailed over advantages

The company was good at attracting traders who fell its victims later.

Published on October 22, 2015 – 01:04
Hello, participants of the global finance market, my name is Aleksandr Beliy. I am the Chief analyst and Russian department Manager of brokerage company CFD1000.
CFD1000 Limited was established by a group of leading professionals in the market.
The Company aims to reach perfection in every way, especially in client support.
CFD1000 is proud it uses the most advanced technologies. In the modern world of online trading, technologies are the key to accurate prices and instant execution of orders.
We offer two leading technologies to analyze the market:

• ALGOTRADE – algorithmic trading system by CFD1000 which offers trend identification, analysis of cycle, buying/selling side bulk expenses, several trading strategies, dynamic recording, target stop of price, and extra fast signals.
• AUTOCHARTIST – this program automatically identifies patterns, key price levels, and the most probable trend directions. It is free for CFD1000 clients.

Nevertheless, the information that the broker has sticky fingers came out spread quite fast as the number of customer complaints regarding the withdrawal issues had risen sharply.

Published on November 27, 2015 – 09:20
Due to the frequent complaints about the fraudulent activity of CFD1000, we have opened a new thread in the blacklist. If you have any information, complaints or comments regarding the work of this broker, please post it in this thread.

A little later, traders flooded the forums with negative comments about CFD1000.

The broker got deep in debt: how much and to whom

Traders spoke about the negative experience of cooperation with CFD1000 eloquently and in details. Moreover, almost all of them mentioned the same last names.

Published on November 30, 2015 – 12:13
At the beginning of our partnership, CFD1000 gave the impression of a reliable and honest broker. At first, there were several minor disappointments, such as the 3-week absence of Chief Broker Adam Fishman who managed my account 16644679. Besides, both the support team and chat kept quiet as well. They just didn’t reply. My application for funds withdrawal was followed by a long silence. Then, I was informed that my application got lost in the finance department. I made it again, everything seemed to be cool, but after that, some weird deal on Bitcoin appeared on my account, while I did not open this deal. It had been opened just for 3 seconds, but these 3 seconds were enough to finish my deposit. Adam said that it was a hacker attack from Germany, that I should not be worried, and that the company would restore my account. It was on September 23, 2015. One week later, the broker contacted me and said that they were waiting for the account to be restored and everything was OK. After a while, I got a call from some Dmitriy who said that he was from another office, and my problem would be solved next week. After that, I could not get in touch with the broker: not with its representatives that I’ve mentioned, not with any other ones, not through the chat, not through the phone. So far, there is absolute silence. So, that is the situation. Maybe, someone knows what I can do. Thank you.

Published on January 19, 2016 – 08:44
CFD1000 broker Alexandr Collins spoke about bright prospects of trading and, what was the most important, promised that my deposit would be insured in case of a losing deal, that I would not lose anything. He opened 2 deals on my account that lost soon. He offered me to add $1,000 to my initial deposit of $750 in order to fix the situation. Also, he said that everything would be OK, I should not worry and should not do anything without him. So, the deals kept going deeper and deeper into losses, while Alexandr disappeared and did not answer to my skype calls. I realized that no one was going to help me and tried to fix the situation myself, however, it was too late. Then, I got a call from some Eduard Mitskevich (finance analyst), he swore he wanted to help me to save my money and said that in order to do it I need to get insurance and put another $500 to my account. After that, according to this analyst, all my money would be returned to my bank card. Once I made a transfer, he disappeared as well. Obviously, I didn’t receive any money. Interestingly, Eduard Mitskevich exists, but no one knows him. It seems like they use nicknames for clients which they cannot remember themselves (Collins, Mitskevich, Fishman, Kraus, etc.) Moreover, just after several days, Mitskevich said to other new clients that insurance was free of charge, that he had never demanded $500, and that he did not remember such conversation. Account 16678846.

14.06.2016 Aleksandr L: CFD1000 is an absolute fraud! It is just unbelievable! I have worked with 6 different traders, and all of them helped to waste my deposit! After each big loss, I used to get a call from some new representative of the broker who was saying that they were investigating the work of their employee and wish to recover my losses. Then they would add that I need to deposit more money, so that we could recover my losses and make profit. Michael (I don’t remember his last name), Adam Fishman, Aleksand Kraus, Alexandr Collins, Maks Fridman, Anatoliy Rudenko… all of them had lead me to the same result: whether i lost my deposit or couldn’t withdraw the funds. The support team stopped replying right after the deposit was transferred. Please choose anyone, but not this broker. Besides, they have a subsidiary that helps them to trick clients – Touchtrades, https://www.touchtrades.com. The scenario here is the same: you cannot withdraw your funds, and then your deposit vanishes. My account number in CFD1000 is 344432.

11.03.2016 Konstantine: I lost my deposit, my friend lost his one, and my brother lost money as well. I think it is impossible to make a profit with this broker. At least, I haven’t heard of anyone who managed to make money with this company.

CFD1000 managed to scam not just Russian traders. Foreign clients also lost their deposit due to this fraud.

Parken, Denmark, May 23, 2018: It’s a fraud, make sure to avoid it.
Never ever make a deposit to the account of this broker, you will never see your money again. It is impossible to withdraw funds from their accounts.

Pix, Poland, April 19, 2016: CFD1000=SunbirdFX=SCAM
It’s a 100% scam. They called me on the phone number that I only used once – when I tried to contact SunbirdFX (well-known fraudsters) about a year ago. That means they are related.
KEEP OUT!

Customers’ complaints confirm that fraud cases by CFD1000 really occurred. It is impossible to state the number of deceived people around the world. One thing is clear, we are talking about a tremendous amount. Besides, when a forex broker leaves the market, it instantly dumps all remaining clients by default.

Bottom line

CFD1000 was an average currency broker selling miracles. The company’s representatives used advertising wisely so that the "magic" could be successfully sold.

Apart from that, the broker won traders’ trust by catchy headlines, like “Real reviews and opinions about CFD1000”. Obviously, only positive comments could be found there.

So, stop and think before you take such an imprudent step as transferring money to a questionable broker, like CFD1000. Moreover, carefully review and analyze the information about the broker. Be cautious!