Read our CV Markets review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a cvmarkets.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So CV Markets is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about CV Markets in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
CV Markets Review Conclusions
Making the CV Markets review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our CV Markets review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
after some dealings with cv markets ,apparently ,my original A$10000 was traded until I had a balance of about US$33000. I was told when I tried to get my money back that I would have to deposit Another $5000 for “TAX” . I will not ever risk any further funds with this Company.
Very fishy, Anything that can be done to totally obliterate this enterprise should be done as soon as possible so no o0ne else gets robbed.
Hi Guys,
I have been cheated by CV market like you all guys. I have invested 10k AUD and after making some profilt when i asked them to withdraw they stopped calling me and don’t even response to emails.
There is a guy Tony who called me. They will ask you to deposit more funds to their wallet but don’t do that.
they are really fraud and dont waste your money
I also fell into the CV Marketing scam and fortunately only put in the initial $325 – then I woke up and decided to seek some reviews. What I found astounded me about people being ripped off and that this is a scam. So I decided to turn the tables and politely requested a refund prior to depositing a sizeable amount – I told them I just wanted to see the turnaround time.
In the meantime I called my bank and explained the circumstances and requested chargeback and cancelled my debit card – another was reissued later.
Long story short during this process “James” from CV Markets insisted they had sent the refund back to my account. Upon checking my bank advised they had tried to take another $325 from the account – it could not as I had cancelled the debit card. During these calls I asked where they are located and James said in London – so I asked where as I had lived in
London – he could not supply an address. So after a number of weeks of
persistent calls from James and me going off at him over the phone I told him to “F” off and if I ever met with him I’d punch his lights out.
I eventually got a refund from my bank – 2 months later
Lesson learnt – DO NOT INVEST WITH THEM OR GIVE THEM YOUR BANK CARD DETAILS
I HAVE DEALT WITH CV MARKETS FOR A FEW MONTHS .MY BALANCE WAS QUITE SUBSTANTIAL AND I ASKED FOR A PAYMENT ..IT WAS REFUSED UNTIL I PAID TAX …I PAID TAX AND THEN TRADING CONDUCTED BY MY SUPERVISOR PRODUCED MORE PROFITS THUS INCREASING MY BALANCE…PAY MORE TAX OR NO REFUND .
THEY ARE SITTING ON MY ACCOUNT WICH IS QUITE LARGE BUT WILL NOT REFUND ANY MONEY.
ANZ BANK TOLD ME THEY CLASSIFY THE COMPANY AS COMPLETELY FRAUDULENT ,A SCAM AND THE HIGHEST
PAYMENT EVER RECEIVED BY THE BANK HAS BEEN LESS THAN $4000. DO NOT INVEST WITH THIS FRAUDULENT COMPANY
This company is based in. Iceland and is a complete scam. All the stories above are completely true. My balance is $78K with a good proportion being profits. But they don’t actually trade. this is run by an algorithm admittedly based on market prices, but it’s an illusion. DO NOT TRUST ANYTHING THEY SAY.
you will loose your money as I have
I deposited 200000aud by way of ETHERIUM AND I CAN NOT GET THE withdrawal they ask for another 5000 so they can transfer the money back
I have emailed and aswell on WhatsApp but get no response BIG TIME SCAMMERS
Very sweet talkers until they get your money
I have very similar experience. Even did a trialo withdrawal which they allow, part of their mechanism
BUt when it comes to withdrawal say on a monthky basic you are required to pay them AGAIN for fees and taxes. DO NOT TRUST OR TRADE WITH THEM