Forex Broker

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.

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!

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.

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.

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: Reina | 日期 of  2019-12-02
Cartel Finance asked for the verification of my account multiple times. I already submitted all of my documents available but they still asked for more. And they told me that I won't be able to withdraw anything unless my account is verified. I think this is just their tactic to reject their clients' withdrawal requests because they really had no plan on releasing our funds at all. This broker is a fraud and must be avoided.
Author: Palrin | 日期 of  2019-11-25
I was one of the poor victims of Cartel Finance. I was promised with guaranteed returns at the end of the year regardless of the amount. I was also promised that they will assist me throughout my trading actions but they became unresponsive after I deposited my money. They would only contact me to tell me to add fund in my account. But whenever I try to ask for help, they would ignore me. The platform was too shaky that most of my trades failed. This broker never allowed me to withdraw any of my fund as well.
Author: Vania | 日期 of  2019-11-21
Never ever believe another broker who promises that they will help you retrieve the fund that your previous broker got from you. There is a higher chance that this broker is trying to use your vulnerability to take advantage of you as well. When you are so desperate to get back what is yours, you become willing to receive any help. This is what Cartel Finance is trying to do. All I can do is hope that no one else falls for their fraudulence anymore.
Author: Geden | 日期 of  2019-11-13
There are legitimate companies that offer assistance in the issues of financial fraudulence. However, Cartel Finance is not one of those. They are simply taking advantage of those who are vulnerable and desperate to seek help to make them even more miserable by deceiving them. Just why are these kind of people so rampant in this industry? Some victims have been blaming themselves now for not being wiser when it was simply only the company's fault.
Author: Pyhep | 日期 of  2019-11-08
I was already a victim of a fraud broker. I was very devastated back then and was desperate to retrieve my fund so when Cartel Finance contacted me and offered help in retrieving my fund, I easily accepted. They told me to simply open an account with them and deposit at least $200. They also told me that they have already helped many traders before so I trusted them. But as it turns out, this is just another fraud broker and I fell victim once again.
Author: Umig | 日期 of  2019-10-28
My account was handled by an account manager and she had access to all my activities. I also gave her permission to do some of my trades since she said that she would help me boost my account. Of course, I trusted her. However, she never helped in the profit. She lost half of my capital on the day when I wasn't active on my trades. Then she told me to simply replenish my account and she would handle everything else. I didn't deposit any money and I asked for the withdrawal of my remaining fund. My manager got mad and my account was closed.
Author: Dervox | 日期 of  2019-10-24
It was my fault for not checking the credibility of Cartel Finances. I was easily swayed by what the representatives have told me and I did not bother to check the authenticity of everything they claimed. For more than a year, I have only been listening to whatever they recommend to me. I have only noticed now that I already made a few deposits and never was I able to withdraw anything. They've been telling me that it is most ideal to keep the fund in my account, but now I understand what their real agenda is.
Author: Nolenzo | 日期 of  2019-10-16
I was desperate to take back my money when my previous broker turned out to be a fraud. I lost $1450 on that broker and I was really devastated. Then one day, I received a call from Cartel Finance and they offered help in retrieving the funds. They said that they saw the reports about the broker and they are willing to provide assistance but not for free of course. They asked for $500 which they said after we settled the issue with my broker, could be credited to my account at Cartel if I want to trade with them. I agreed and deposited $500. However, After the transaction, they completely vanished. I can no longer reach them through the number they used to call me. I also got nothing from the email address on their website. And here I am, deceived for the second time.
Author: Kopsen | 日期 of  2019-10-10
Cartel Finance has definitely tricked a huge number of investors. If we think about it, the blame can't be blame solely on us clients for trusting this broker because it looked decent. The benefits were good and the representatives communicate professionally. Who would think that behind these good impressions lurks a swindler? My brother-in-law and I invested on this broker about the same time. The first few months were great. Trading went smoothly as the platform was stable. I deposited $1000 and my brother-in-law $1500. Never have we imagined that the moment we request for a withdrawal, our accounts would immediately be terminated.
Author: Wren | 日期 of  2019-10-04
Can someone wake me up from this nightmare? Everyday, no matter how hard I try to keep myself busy, I can't help but think about the $10,000 that Cartel Finance took away from me. I was foolish and didn't think through my decision that's why I made a huge mistake but there wouldn't be a mistake in the first place if there are no fraud brokers like Cartel Finance. All I wanted was to invest on something, but I ended up being robbed.
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