The CBT, supported by Michael Palin, the Monty Python actor, was launched at Charing Cross in protest at the massive increases in season ticket fares.
Supporters donned David Cameron and Nick Clegg face masks, while one campaigner sported a mask of Philip Hammond, the Transport Secretary.
Stephen Joseph, CBT chief executive, said: "Commuters feel like they are being pick-pocketed by the Government, expected to pay more year on year for the same poor quality service.
"Even with the promised extra investment, many passengers will see no actual improvement to their daily commute.
"Politicians need to start living in the real world and understand that people simply cannot afford to pay a fifth of their income just to do a day's work.
"The Government pledged to create fair fares and we all expect them to keep that promise."
Mr Palin said: "Rail fare rises are holding travellers to ransom and increasing the likelihood that people will have to take to our already-overcrowded roads.
"Regular price hikes are no way for the Government and train companies to reward their regular customers.
"Instead of milking them, they should be thanking them for their loyalty with a better, simpler, more competitive fare structure."
The biggest hikes are being imposed by Southeastern, which carries 120,000 commuters a day into central London from East Sussex and Kent.
Commuters travelling to St Pancras from Hastings, Rye and Tonbridge will have to find �5,192 a year ? equivalent to a fifth of the national average salary.
Passengers arriving at Charing Cross voiced their anger about the increases.
Jason Homewood, 39, an accountant, travels from Maidstone, Kent, into London and already pays around �3,400 for his season ticket which he will have to renew at a much higher level in May.
He said: "On Southeastern we pay more due to the high-speed Javelin trains. But I don't use them and the service levels in my area have got worse.
"I'm paying more for services that don't actually benefit me. The service of late has been diabolical."
A spokesman for the Association of Train Operating Companies said: "Passengers are already benefiting from record levels of investment in our railways.
?Nine out of 10 trains get to their destination on time and, according to the independent passenger watchdog, a record high of four out of five people are satisfied with the service they are getting.?
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