CWM FX - I Told You So !

deltatrader12

Junior member
18 1
OK. I posted a warning thread up some weeks back about CWM FX being a boiler room and outlined all of the unethical practices there. I worked there as an employee literally for a couple of days and resigned in disgust after I witnessed the misrepresentation, misleading statements, lack of risk warnings and high pressure sales tactics.

An additional poster on the thread I started mentioned how CWM FX was soliciting for asset management business (outside of their licensing) with a 'guaranteed' investment offering guaranteed monthly returns 'off the record' and suggested that it was a ponzi scheme. Anyway, my post/ the thread was deleted from this forum.

I put the post up as a warning/ to caution people as to the situation purely. I had no axe to grind and was not a disgruntled employee but thought it a good idea to look out for my 'fellow man'.

Anyway, what do I read in City AM? I read that they were raided by the police a few days ago and 13 arrests were made. http://www.cityam.com/211002/heron-tower-raid-colourful-world-chelsea-fc-s-forex-partner-cwm-fx

I think the forum moderators should grow some balls and not delete posts. Posts like mine are not meant to be malicious but are written purely to give people on this forum a 'heads up' that could potentially save people their life savings. Good to see that somebody else had the good sense and British balls to try to bring the light of clarity on the situation.
 

Fxvictim

Junior member
22 0
Nice one. I could list a mountain of introducers pushing this crap. About time they were brought to hand as well
 

PualoP

Well-known member
402 35
Yeah it's a shame the mods took down your original post, it cold have saved a lot of people some money. I heard the mods/sharky go a letter from CWM's 'layers' and pissed their pants.
 

Fxvictim

Junior member
22 0
I understand there is now a large firm of solicitors about to commence legal action against introducers who have been promoting this to retail clients. They say it has been massively mid sold and will ultimately close down a lot of these. However, they say that as the directors did not do correct due diligence on the investment, they will pursue the directors personally through the courts. Interesting times coming up!
 

MajorMagnuM

Legendary member
9,284 888
why was the post deleted? in the light of the article it would seem you did a good thing, but the moderators may have thought this was not the forum for such a heads up? ie they cannot substantiate its substance until the authorities have acted and produced proof, and to leave the post up would expose them to legal stuff? this in turn means honest whistleblowers need a safe environment to alert potential victims
 

Trader333

Moderator
8,599 931
I think the forum moderators should grow some balls and not delete posts. Posts like mine are not meant to be malicious but are written purely to give people on this forum a 'heads up' that could potentially save people their life savings. Good to see that somebody else had the good sense and British balls to try to bring the light of clarity on the situation.

It wasn't moderators who removed the posts but Admin after T2W was issued with a legal challenge so get your facts straight before blaming us for something we haven't done.
 

clbfjc

Active member
121 1
Craig Droiste, used to work over at anotther Binary Options Broker OneTwoTrade. Simlar sort of setup, not sure how they have got away with it for so long.
 

tomorton

Legendary member
8,144 1,222
Site users can't just post unsubstantiated and potentially very damaging information about commercial bodies (or individuals). Of course, what the site could do is hold the post back until its content has been sent privately to the company, and then post their reply.
 

neil

Legendary member
5,167 747
david and Goliath -the reality.

Site users can't just post unsubstantiated and potentially very damaging information about commercial bodies (or individuals). Of course, what the site could do is hold the post back until its content has been sent privately to the company, and then post their reply.

A bit like hotel comments on "Trip Adviser"- you do not know how many comments are genuine or how many are false (competitors dirty tricks etc).

The law of libel applies everywhere. That being so T2W has to be careful not to embroil itself in legal battles based on unsubstantiated claims by possibly disgruntled employees or other persons. So it follows that any post that is legally challenged has to be removed if proof is not available or the article is written in such a way that it is clear that the writers views are not those of T2W. Even then a legal minefield awaits such publishers, and the cost involved in meeting legal challenges is simply not economical. Perhaps the poster should approach national television or other publishing conglomerates who have the financial muscle to fight legal battles. Not a view promoting fair play I know, but then, we live in the real world where, sometimes, right is linked to economic might.
 
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spinola

Established member
614 137
It wasn't moderators who removed the posts but Admin after T2W was issued with a legal challenge so get your facts straight before blaming us for something we haven't done.

Can you expand on structure of the actual ' legal challenge ' , or was it , more like hot air threats of legal action to get posts removed etc.

Was there any formal legal documents served to T2W for example, setting out the nature of any legal complaint ?

Just want the sight of the FACTS !

Cheers.
 

matthewkent

Newbie
3 0
It'll be interesting to know who the introducers were. maybe its time to name and shame them...




I understand there is now a large firm of solicitors about to commence legal action against introducers who have been promoting this to retail clients. They say it has been massively mid sold and will ultimately close down a lot of these. However, they say that as the directors did not do correct due diligence on the investment, they will pursue the directors personally through the courts. Interesting times coming up!
 

matthewkent

Newbie
3 0
I agree. why delete the post that was factually correct. there's no smoke without fire.

rumour has it that CWM FX have another 14 days where they have a deadline to pay back all the money raised for their proposed 'fabricated' investment of guaranteed returns


OK. I posted a warning thread up some weeks back about CWM FX being a boiler room and outlined all of the unethical practices there. I worked there as an employee literally for a couple of days and resigned in disgust after I witnessed the misrepresentation, misleading statements, lack of risk warnings and high pressure sales tactics.

An additional poster on the thread I started mentioned how CWM FX was soliciting for asset management business (outside of their licensing) with a 'guaranteed' investment offering guaranteed monthly returns 'off the record' and suggested that it was a ponzi scheme. Anyway, my post/ the thread was deleted from this forum.

I put the post up as a warning/ to caution people as to the situation purely. I had no axe to grind and was not a disgruntled employee but thought it a good idea to look out for my 'fellow man'.

Anyway, what do I read in City AM? I read that they were raided by the police a few days ago and 13 arrests were made. http://www.cityam.com/211002/heron-tower-raid-colourful-world-chelsea-fc-s-forex-partner-cwm-fx

I think the forum moderators should grow some balls and not delete posts. Posts like mine are not meant to be malicious but are written purely to give people on this forum a 'heads up' that could potentially save people their life savings. Good to see that somebody else had the good sense and British balls to try to bring the light of clarity on the situation.
 

clbfjc

Active member
121 1
Ihave just had an email from Lvererate, who are the platform behind CWMFX confirming that they have terminated the agreement with CWMFX... No more trading for them in 5 days...
 

Trader333

Moderator
8,599 931
Can you expand on structure of the actual ' legal challenge '

No I can't as it was an Admin decision which was for reasons as stated and which moderators are not involved in.
 

Fxvictim

Junior member
22 0
I can't seem to find anywhere to confirm all the money has to be paid back. If this is so, does this mean a clawback of commissions from introducers?
Also there seems to be no confirmation from leverage that they have disassociated themselves from CWM
 
 
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