SogoTrade Fined $75K Amid Compliance Failures
FINRA fines SogoTrade $75,000 for market access control failures as TopFX advances synthetic indices trading and 24/7 multi-asset solutions.
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Abstract:Is your CMS Prime forex trading experience financially distressing? Does the broker constantly deny you to withdraw your funds? Has the broker defaulted on swap charges? Has the CMS Prime scammed you at every stage of your forex journey with it? Do you also have to witness unprofessional behavior from the broker officials? Well, these trading issues have become headlines on the CMS Prime broker’s review platforms. We have shared some complaints in this CMS Prime review article. Read on!

Is your CMS Prime forex trading experience financially distressing? Does the broker constantly deny you to withdraw your funds? Has the broker defaulted on swap charges? Has the CMS Prime scammed you at every stage of your forex journey with it? Do you also have to witness unprofessional behavior from the broker officials? Well, these trading issues have become headlines on the CMS Prime brokers review platforms. We have shared some complaints in this CMS Prime review article. Read on!
Traders constantly report withdrawal blocks by CMS Prime without a valid explanation. In one case, a trader was approved for withdrawing $354. However, it blocked a $162 withdrawal request despite the trader claiming to have a verified account, meeting all the terms and conditions. Read this screenshot to know more about this CMS Prime withdrawal issue.

This complaint also made rounds on CMS Prime Brokers review platforms. We found one complaint where the trader admitted to having made profits. However, the broker denied, saying that withdrawal is capped to the investment amount, preventing the trader from encashing gains. Here is the screenshot explaining this trading issue.

A trader transferred the fund to a prop funding account at CMS Prime. However, the broker denied it by saying it did not receive funds. The trader sent screenshots of the successful transfer to the CMS Prime broker. However, despite multiple catch-ups, the issue stayed unresolved. Check this screenshot to know more about it.

Adding more security concerns, a trader recounted a series of lies CMS Prime officials use for duping investors. The trader claimed that the broker lured him into trading by saying there are no swap charges because it is an Islamic account. However, swap fees are debited by the broker. Upon contacting, the broker vows to remove the charges soon. But the day never arrives! The trader even claimed that CMS Prime deliberately withdraws an amount from the trading account without any reason. According to the trader, these are all part of its investment scam strategies. Check the screenshot below to know more about this CMS Prime review.

In a major accusation, a trader has commented that the company‘s CEO forces traders to agree with the terms and conditions, besides withholding gains made by them. This explosive revelation has certainly dented the CMS Prime broker’s reputation.

The stunning revelations made by the traders made us look deeper into the CMS Prime brokers business. While doing so, the WikiFX team found that it is an unregulated broker, allowing it to bypass investor-friendly trading norms and piling on the losses for traders. As a result, the team handed it a poor score of 2.40 out of 10.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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