Unscrupulous swindler Сartel Finance: a story of a massive fraud Does anybody want to waste their money in a con game? Welcome to Сartel Finance! No offense, we just want to warn people. The company under discussion is surprisingly cynical and unscrupulously audacious – these are the most suitable words to describe this swindler. The motto of Сartel Finance could be something like “a massive fraud brings massive profits”. Indeed, this broker cheated its clients of hefty sums.
Oksana At first glance, Сartel Finance may seem to be a decent broker with beneficial conditions. It claims to have a team of professional analysts, a wide range of trading instruments, and momentous withdrawals of funds. According to its website, only professionals are engaged in projects who can help to earn big money. The aim of these tricksters is to persuade clients that they deal with a trustworthy broker. The so-called professionals are Anna Simonenko, Sergey Martynov, and Anastasiya Roman. In facts, they are fictive characters. The broker offers three account types that are called tariffs for some reason. Such a metaphor is unlikely to be a coincidence. By the way, the minimum deposit is $150. This sum is smaller than required by other brokers including fraudsters but larger than needed to join a pseudo-investment project. In fact, Сartel Finance has nothing to do with financial markets. It is nothing else but a cheater. It is the simplest Ponzi scheme trying to create an image of a reputable broker. The website is nothing special, seemingly cheap. Why spend too much on such a shallow project? All its legal information is a legal address in Slovakia that is used by other swindlers according to search engine results. So, here we have a fake address and a feedback form. It is possible to contact the company only by email. Is it the way big companies usually communicate with their clients? Fraud schemes of Сartel Finance The most incredulous scam by Cartel Finance is its assistance in the withdrawing of funds that were seized by other scammers. That is a classic fraud scheme intended for taking money from people who had already been fooled. As a rule, fraudsters ring around clients of other dishonest brokers. Let us suppose that trader John loses $2,000 with a broker A. After some time, managers of a broker B call him and offer help in getting his money back. The only condition is that John should deposit the broker B’s trading account with just $200. Consequently, John loses another $200. But that is not all. Cartel Finance has developed another method of cheating its clients out of their money by helping them to open losing deals. Moreover, clients of Cartel Finance should pay fictive bank commissions and charges. The result of cooperation with this broker is obvious – the loss of money. It is hardly possible to get the investments back or withdraw them.
Tatyana writes:
Sergey
Yanyk
Egor Conclusion. Choose a broker with the utmost care, so you won’t suffer from your light-mindedness. If you don’t want to lose your money, you’d better always ask for the detailed information about a broker and check the credibility of the data on its website. Optionally, you can ask a financial regulator that supervises the activity of the broker to provide you with a copy of the license certificate. This way, you can compare the official data with the information on the broker’s website. The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
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My initial capital at Cartel Finance was $100. My trading activities went well at first. Then, a representative kept convincing me to top up my account for higher profits. I politely declined because I still cannot afford to invest more. But after that, my platform became shaky and trades were made automatically without my permission until I lost all the money I had on my account.
Well, there is nothing I could do anymore since I already lost my money and it is impossible to get it back from Cartel Finance. You guys should already learn from the mistakes of those who have been defrauded. Don't risk it with a broker with no license because you will only end up losing your money.
The company offered assistance from an account manager. I accepted it because I was not making any progress. However, instead of helping me, the manager only opened trades aggressively and closed them all at losing positions. After that, my account was suspended. Then, I never had access to it again.
An account manager took over my account right after opening it. She already made a lot of trading activities which all resulted to losses. Naturally, I complained. But the company never did anything about it. When I asked for a refund, the broker blocked me.
The real problem with Cartel Finance is that it is a fraud broker that never planned to release its clients' funds. That is why the complaint of the clients is the non-issuance of funds. I just wish I never engaged with this broker. I lost $2000 on this.
None of us saw it coming. Cartel appeared to be trustworthy. There was no way we could know that it was only a fraud until we try to take our money out. Eventually, the broker disappeared and the truth came out. But many investors have already lost their funds.
After opening an account and depositing money to Cartel Finance, the first thing that my account manager told me was if I was interested in adding more funds. I was a little taken aback because I was not even starting my trading activities yet. I said that I won't be adding more funds yet and the next I know, I lost my account.
I had an account at Cartel Finance for almost a year. I was having a normal trading experience and I never noticed anything odd about the broker . However, when I made my first withdrawal request, it was denied. After that, all of my trading activities had negative results and when I refused to replenish my account, the broker closed it without paying me anything.
From now on, I will never deal with any company with no license. This is the mistake that I made when I opened an account at Cartel Finance. I was too focused on the lucrative offers that although I knew that company was not regulated, I still took the risk. Now, I can never get the $1000 funds I deposited to this fraudster.
That's right. Take caution for your own sake. We don't want these fraudsters flourishing through our investments. Let us become more skeptical about any company even when they appear reputable.
My father was deceived by Cartel Finance. He invested a huge amount on this broker because of some random guy online who claimed to have an amazing experience with the broker. My father's desire to earn extra money led him to getting involved with the broker but sadly, it only resulted to more losses.
Back when I was still trading at Cartel Finance, there was time when I was not able to access my account for more than a month. Then when I got my access back, my account balance was already 0. The company said that it was probably due to inactivity and I told them that it was their fault I couldn't access my account. But still, they did not take responsibility for it.
They do it so casually that you would think twice about getting mad at them. They make it look like they have no fault at all in whatever losses you have incurred even when you did not have a losing position. This broker was manipulative and a thief.
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