CFGTRADER SCAM CASE

It looks CFGTrader has gone... Check its website...

I was about to open an account with them (before finding this site). I sent to them all the needed papers.

I was waiting for the ack e-mail when I got know that the company had gone... Amazing luck I didnt start the procedure 1 week earlier.

In this case I would have sent money into a black hole...

CFGTRADER SCAM CASE

Had an account with CFG trader, opened the account on a ZERO pip offer (sounds almost to good to be true?)....

I did two trade with them and was executed at 6pips on each. called the broker and asked why, he said that if i was given zero pips, everyone would scalp the market. I immediately got the withdrawal papers and sent them in on Sunday night... to only find in my mailbox Monday morning that NFA had frozen all accounts... IT looks like this broker has gotten a Margin Call big time...

After a month of waiting, the courts agreed to sell all the accounts to another company called I-Trade FX, and this company later refunded my money completely...

I went back to my old broker and was glad to pay the extra pips for staying in business... What timing eh?

CFGTRADER SCAM CASE

I got ripped off by CFG when I took their $5500 course in Las Vegas in 2004. I couldn't believe what they were peddling, but found out I couldn't get a refund after the START of the class. I had no choice but to give it a go. My mentor lived some 3,000 miles away and I was supposed to fly there for meetings. I then found out their was another mentor (far better than the first) and I asked if I could go with the new guy because he lived ONLY 5 MILES from my home. They agree, IF I WOULD PAY ANOTHER $5500!!! There are a few good guys with a lot of knowledge, but the company sucks.