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Capital Trust Markets - Scam Forex Broker

Discussion in 'Scam Companies' started by sampath, Jan 16, 2016.

  1. sampath

    sampath New Member Trader

    Oct 10, 2015
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    I'm a US citizen living in Ukraine and have a client account with Capital Trust Markets. In late February 2015 I opened a trading account and soon after tried to withdraw my deposited funds in May 2015 when the chart data feed became erratic. The director, Reza Mokhtarian, asked all clients to be patient while CTM was re-organized and the services of the current ombudsman were transferred to another agency responsible for financial oversight. Soon after this he secretly de-registered the business in New Zealand, and efforts to communicate with the CTM office or the director became difficult then impossible.

    My request to transfer out all funds sat in hold status, in my web account, until the website was shut down and went offline. I had no previous dispute about trading profits or losses, which would explain the failure to return my funds. My initial deposit, minus some small losses, was never returned to me.

    When current government investigations are complete, this broker, Capital Trust Markets, will go down as one of the most egregious offenders of client trust in the spot Forex community. If you study the financial maneuvers of the director you will a classic example of fraud.

    For new Forex traders please benefit from my experience and do three things; a.) never deposit your Forex account funds in a broker's bank account not located in the same country as the the registration of the company, b.) avoid all brokerage firms in New Zealand. I found the government oversight agencies to be unwilling to take responsibility for the financial fraud perpetrated by a broker registered in their country., c.) avoid any current or future business relationships with Mr. Reza Mokhtarian.

    For the reasons stated above I would like to list Capital Trust Markets in the category of Scam Companies.
  2. Elizabeth Holmes

    Elizabeth Holmes Member Trader

    Jan 26, 2016
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  3. GOSHI

    GOSHI Active Member Trader

    Mar 15, 2016
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    I haven't had any trading experience with this broker, no wonder why brokers turns into scam but we should be careful and choose a decent broker who have a good reputation in market. I usually check user review sites like forex peace army for checking reviews of any broker and the reviews of this broker does not seems good at all.

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