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Unscrupulous swindler Сartel Finance: a story of a massive fraud

Does anybody want to waste their money in a con game? Welcome to Сartel Finance! No offense, we just want to warn people. The company under discussion is surprisingly cynical and unscrupulously audacious – these are the most suitable words to describe this swindler. The motto of Сartel Finance could be something like “a massive fraud brings massive profits”. Indeed, this broker cheated its clients of hefty sums.

Oksana
Hello.
I can’t get my money back from cartelfinance. The balance is USD 3,996.92. I transferred money from visa credit card on the company’s website. I passed verification. Nonetheless, the status of my withdrawal request is always in progress What can I do?

At first glance, Сartel Finance may seem to be a decent broker with beneficial conditions. It claims to have a team of professional analysts, a wide range of trading instruments, and momentous withdrawals of funds. According to its website, only professionals are engaged in projects who can help to earn big money. The aim of these tricksters is to persuade clients that they deal with a trustworthy broker.

The so-called professionals are Anna Simonenko, Sergey Martynov, and Anastasiya Roman. In facts, they are fictive characters. The broker offers three account types that are called tariffs for some reason. Such a metaphor is unlikely to be a coincidence. By the way, the minimum deposit is $150. This sum is smaller than required by other brokers including fraudsters but larger than needed to join a pseudo-investment project.

In fact, Сartel Finance has nothing to do with financial markets. It is nothing else but a cheater. It is the simplest Ponzi scheme trying to create an image of a reputable broker. The website is nothing special, seemingly cheap. Why spend too much on such a shallow project? All its legal information is a legal address in Slovakia that is used by other swindlers according to search engine results.

So, here we have a fake address and a feedback form. It is possible to contact the company only by email. Is it the way big companies usually communicate with their clients?

Fraud schemes of Сartel Finance

The most incredulous scam by Cartel Finance is its assistance in the withdrawing of funds that were seized by other scammers. That is a classic fraud scheme intended for taking money from people who had already been fooled. As a rule, fraudsters ring around clients of other dishonest brokers.

Let us suppose that trader John loses $2,000 with a broker A. After some time, managers of a broker B call him and offer help in getting his money back. The only condition is that John should deposit the broker B’s trading account with just $200. Consequently, John loses another $200.

But that is not all. Cartel Finance has developed another method of cheating its clients out of their money by helping them to open losing deals. Moreover, clients of Cartel Finance should pay fictive bank commissions and charges.

The result of cooperation with this broker is obvious – the loss of money. It is hardly possible to get the investments back or withdraw them.

Tatyana writes:
I’m lost for words… This company is nothing but a scammer. You can’t believe any single word they say. They have bled me dry! I lost 150,000. They have no moral principles!

Sergey
A manager of this broker helped me to lose all my deals. I have nothing to withdraw. I lost $5,500 in total. It’s bitter to realize that I’m a goof.

Yanyk
That is a robber’s cartel! The name of the company is self-explaining. I can’t withdraw my money. The support service does not respond while my managing trader persuades me to deposit more. It seems I won’t get my money back.

Egor
I can tell from my own experience, this broker is a scam! Cooperation with it cost me $500. I decided to withdraw my money after a short period of trading, but I was unable to do it. CARTELFINANCE IS A SCAM!

Conclusion. Choose a broker with the utmost care, so you won’t suffer from your light-mindedness. If you don’t want to lose your money, you’d better always ask for the detailed information about a broker and check the credibility of the data on its website. Optionally, you can ask a financial regulator that supervises the activity of the broker to provide you with a copy of the license certificate. This way, you can compare the official data with the information on the broker’s website.

The opinion of the review`s author is private and not obligated to reflect the position of the resource. If you have any remarks and suggestions on new articles please contact us via this form.
Author: Jam | Date 2020-07-02
I guess all fraud brokers appear reliable at first. That is their way of getting their clients, right? Cartel Finance appeared very reputable to me. When I talked to their representative, her voice was firm and she was concise yet clear on her explanations. I just couldn't help but give in to their proposal back then. I started my account and deposited $500 which I know deeply regret. I wish I had made my research first before dealing with the, I wish I were more careful.
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Author: Tonza | Date 2020-06-24
I don't know what happened to the owners of Cartel Finance but I hope they are not deceiving people anymore. I feel so much like a fool for falling for all their lies. They promised me good trading results for as long as I keep active and keep replenishing my account. But it was only their way of taking more money from me. It is difficult now to trust any company.
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Author: Beth | Date 2020-06-10
As a newbie, I wanted to trade with a broker that has a low trading cost. I am only starting hence I will only have a small capital and a high cost of trading would not be favorable to me. With this said, I found Cartel Finance with very tight spread. I opened an account with them and deposited $50. My account manager asked me to top up my account after a few weeks which I did totaling my deposit to a hundred dollars. After that, I never heard from my manager again and I also started to lose my money from trading. Eventually my account was wiped clean and.
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Author: Kevin | Date 2020-06-05
Well, just another typical fraud broker. Cartel Finance earned my trust by constantly contacting me. The representative that talked to me sounded trustworthy and he seemed like he knew what he was talking about. He gave me details of the benefits I can get and the conversation is interactive. He is able to answer every question I ask. However, now we all found out that this broker is a fraud. Because I trusted them, I deposited a thousand dollars. Devastatingly, I wouldn't be able to get that money back anymore.
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Author: Kianna | Date 2020-05-21
Cartel Finance appeared a trustworthy, reliable, and honest broker. This was my impression of this broker. I visited their website and everything seemed fine. I talked with their representative and our conversation was professional and clear. The representative gave me what I need to know about the company and she sounded really friendly. Not long after, I opened an account and deposited $500. And in a snap, there was a turn around. The customer support can no longer be contacted, the platform did not run well, and soon after I lost access to my account.
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Author: Wey | Date 2020-05-14
A fraud broker is often only exposed when they have already fooled thousands of people and have already taken all their deposits. Cartel never appeared to be suspicious. In fact, they seemed really professional, especially the representatives. However, they are not really Forex experts. What they are good at is developing fraudulent schemes to rob people's money. This fraudulence scheme was only known when it was too late and people have already deposited huge amounts of money.
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Author: Ashrak | Date 2020-05-08
I opened an account at Cartel without even thinking about the security of my fund. I was ecstatic when the company called me and proposed and investment opportunity. The representative sold the company well and I was convinced the my fund would grow in no time. You may call me gullible but it was hard not to believe when they sounded firm in their propositions. The representative sounded trustworthy. Now I lost $300 and I regret it a lot. Next time, I would make extra effort to research about the company before making any decision.
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Author: Ngatma | Date 2020-04-29
I never should have trusted Cartel Finance. I was swayed and convinced by how the knowledgeable was the representative that I talked with. It sounded like she really knew her way in the forex market and she explained things with simplicity and clarity. She sounded like an expert and that is what the company claims to be proud of. I believed that I would be assisted by experts and would be able to grow my investment in no time. But then, as it turned out, I was tricked and I lost my money.
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Author: Fabio | Date 2020-04-22
After being deceived by Cartel Finance, I don't think that I would be able to start Forex trading ever again. I was tricked for a second time by this broker. They approached me offering help with the fraud incident that I had with my previous broker. They said that their main aim is to help out traders who have fallen victims to fraudster and help them recover their losses. I believed and started investing with them. As it turns out, this is another fraud and they are taking the former clients of another fraud broker. Such horrible people.
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Author: Nadeth | Date 2020-04-15
I have already lost hope regarding the retrieval of my money from Cartel Finance. When they terminated my account without any valid reason, I knew right then that I as scammed. I was made to trust a fraud broker. I have become a victim and getting back my money is impossible. If I could only turn back the time, I would do everything to steer away from this fraud broker.
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