If you take a look at the above image, Kondakov is at position 4 with a draw-down of only 28.41%. He trades real or live accounts based on technical analysis.
The last measure might suggest that the broker is expecting clients and introducing brokers to actually come to the door and demand withdrawals. If you’ve not already known, myfxbook.com is popular trading environment where traders around the world come together to discuss, interact and learn from one another. They also help to analyze the live trades of the best performing traders on their platform. Supposing you deposit $10,000 into the Index Top 20 program on August 1, your funds are automatically divided equally between the 20 accounts of the best rated traders on Forex MMCIS. The customer support service is also shrinking, as Mr. Kamysa’s order closes all support services apart from email support. How this is going to help reduce the overload of withdrawal requests and questions from clients remains a mystery. Moreover, MMCIS is a classic case which highlights the pressing problem of regulation lacking in regions where client funds are at stake.
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If you are still wondering whether this is a safe option, you can cancel the contract at any given time. For those who want to join and upgrade their investment strategy, Yield Nodes is the solution. I’m back again with an exciting news about how you can invest with the the top 20 managing traders of the Forex MMCIS Group.
The forum on the broker’s website has recently contained a litany of publications indicating that the potential regulator of the broker would be the Malta Financial Services Authority . As Forex Magnates Russia reveals, according to widespread reports the broker is experiencing financial difficulties and could potentially close in the foreseeable future. Forex MMCIS suspends it’s work due to bankruptcy owing to fund embezzlement by the so called “Dengi Online” and other agencies. This is sad news for most of us who deal in Forex with this company but then, i still have an exciting news for you.
10 days ago I sent to the security company Forex MMCIS Group by e-mail [email protected] the documents required for identification of my personality to verify my account in this company. Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only.
Latency shows how much time it takes for a data packet to travel from one point in the network to another. Forex bonuses are published for the informational purpose only, and should not be treated as an invitation or encouragement to invest in Forex trading. Forex trading carries high risks of encountering substantial losses for non-professional investors. Creating FOREX MMCIS group initiated in 2007, an investment fund “MMCIS investments”. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. According to one of the rules of company Forex MMCIS Group communication with representatives of the security services of this company is possible only by e-mail.
The website of Dengi Online indicates that MMCIS Inc used to be its partner in 2012. However, there is no other mention of the FX broker on the payment expert’s website. The group of Russian FX brokers listed as partners of Dengi Online on its website includes Alpari, Forex Club and FreshForex. In conclusion, one could cautiously infer that MMCIS is facing a crisis.
Latency To Forex Brokers
It was established that the instigator of all these activities was MMCIS. One of the Founders of MMCIS, Konstantin Kondakov, who represents the company as a leading analyst and head trader commented on reports relating to MMCIS via an online conference on VKontakte, a popular Russian social media site. The first noticeable change on the MMCIS website is the sudden slowdown in company news or announcements over the past 3 weeks. Prior to this, the company would publish news, offers and promotional material on a daily basis. One of the most popular and most discussed threads is “Funds Withdrawal and Top 20”. The forum participants in general report successful withdrawal attempts, although with some delays and not all have been in full.
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- It’s fairly obvious that MMCIS is operating practically without any license in multiple regions.
- In an announcement, published today on the broker’s page on social network VK, Roman Kamysa says he has added new measures to the ones already introduced earlier this month to curb the outflow of money from the FX broker.
- Less than two weeks ago, Roman Komica was appointed as new president, having previously held the position of vice-president.
- The information and trading guides found on the website constitute the authors’ opinion only.
- The contract of company Forex MMCIS Group with clients does not contain a provision indicating the term of consideration of documents for the purposes of identification of clients and verify their accounts.
Remember that all your funds including the profits and the initial capital are available for withdrawal anytime soft forex within your account’s member area. Remember that the more you invest, the more profit you’d receive.
Oanda review We compare oanda binary options and social trading, giving you special offers and what you can expect when signing up to this broker. In an announcement, published today on the broker’s page on social network VK, Roman Kamysa says he has added new measures to the ones already introduced earlier this month to curb the outflow of money from the FX broker. The latest measures include cancellation of all withdrawal requests submitted before October 27, 2014 and increasing the time for processing future requests from one week to two weeks.
It’s more profitable than Forex and you can recover your past losses in no time with binary options trading. If you’re a complete beginner in binary options, kindly make use of any of the following binary options signal providerswhile you learn to trade in binary options. Just like Forex, they will provide either free or paid signals to help you trade successfully as a beginner in binary options. If you rather prefer to stick with forex, then make sure you trade with the accurate winning signals from the private group. It’s fairly obvious that MMCIS is operating practically without any license in multiple regions. The main problem is caused in countries where there is an absence of regulation of the Forex market – countries such as Israel and Ukraine.
Forex Magnates understands that among senior management at MMCIS, Mr. Komica is considered to have the best crisis management skills and is tasked with leading the firm away from difficulties and threats that have recently hit the company. Another indication of instability at MMCIS is the swift change of management personnel. Less than two weeks ago, Roman Komica was appointed as new president, having previously held the position of vice-president. It is the view of senior management that the incumbent president should first deal with the cyber-attack issue and return the company to a normal functioning. The new president has promised to do all he can to preserve the dynamic development of the company and lead it out of the crisis. The aim is to create panic among our clients and due to payments systems being affected; the panic has grown in size,” said Mr. Kondakov. Adding, “If looked deeper, this is an attempt to hijack the company and collect a ransom from its owners while using the media to propagate the fabricated rumours.
“Withdrawal forms are not being processed,” says one client who received a verification letter on August 20th – more than 1 month ago. It is worth noting that as a rule of thumb, withdrawals should take no longer than 2-3 business days. On the KROUFR forum, similar posts claiming “I can’t get my money back” are growing. The time for review of applications for withdrawal has been increased from 3 to 7 days and there is a limit on the number of withdrawal requests one should wait for at least a week before submitting a second request. You don’t need to know anything about Forex before you can make money on social trading,though lot of people have lost with social trading , why ? Social trading is a system develop to help people make money on Forex market without trading on your own. MMCIS is blaming everything on its competitiors while its competitors are responding in kind.
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With this, the managing traders can buy and sell large amount of currencies in the Forex market. Oanda offers Forex and precious metals trading, demo account for new traders and other things that you can read about in this detailed Oanda review. At what types of brokers are there the current time, MMCIS refers to KROUFR as the only regulatory agency overseeing the broker. It’s worth noting that KROUFR is an independent organisation which promotes transparency for all market participants in the international forex market.
The havoc which the company’s situation has wreaked upon the clients of the company began several months ago as the broker announced a complex procedure of verification of accounts so that the clients would be able to withdraw their money. At that time, the company explained the complex procedures with its plans to obtain a European license, claiming that its new regulator was demanding this complex verification procedure. MMCIS, based on the successful practices of other companies, the management states that it hopes its clients will understand the need for the restrictive measures, and promises to inform them directly about further developments. At the same time, the company is going “to block the possibility of opponents to distort the positive essence of the introduced restrictive measures,” and employ more moderators to censor forum posts and comments. In the course of the investment fund “MMCIS investments” has been observed that many people want to manage their risk and their own income by taking independent decisions. That is why the order was issued to establish a separate division that provides all the advantages of the Forex market, this unit over time and transformed into a dealing center FOREX MMCIS group. When you’ve invested in the Index top 20 program, your deposit is distributed proportionally among the best 20 managing traders.
Also, note that the managing traders are paid only for profitable months. This would encourage competitiveness among the traders and what kind of brokers are there therefore would strive to deliver outstanding results each month. It will also reduce unnecessary losses to the barest minimum.
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Dealing Centers Forex: Mmcis
The recent developments regarding MMCIS have raised questions and scrutiny from across the foreign exchange industry. The broker has become infamous for its aggressive marketing and sales techniques, as well as sensationalised partnerships with celebrities and lucrative prize draws. MMCIS has turned the provision of trading services into a game show – a Field of Miracles indeed. In May of this year, the Centre for Regulating Off-exchange Financial Instruments and Technologies blacklisted MMCIS. The move was made following multiple client complaints and regulatory checks related to the broker. The main reason relates to MMCIS offering clients a stable high return without risks (10% returns per month on average which equates to more than 200% annually) via discretionary managed accounts.
Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act ofFair Use. forex mmcis group forex broker There are some countries that find it difficult to fund international accounts using direct bank wire transfer or Visa/Master Cards . This is just an instance of one of the traders at the Index Top 20. This way, your investments are highly protected against unusual losses because your money is not handled by any particular trader but by the best 20 professional traders in the Forex MMCIS Group of which Konstantine Kondakov is the leader.