Thinking of getting into business with Cex Pro FX? Here is what you must know about this broker. Carefully read this review to find out if cexprofx.com is the trading platform you will want to trade with.
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About Cex Pro FX Broker
Cex Pro FX is an offshore brokerage company with a lot of promises for traders. Here, the broker presents us with an address 33 St James’ Square, London, SW1Y 4JS, United Kingdom.
In spite the trading instruments Cex Pro FX claims to offer, traders must know they are dealing with an unknown broker whose reason for not accepting regulation is a red flag.
cexprofx.com: Reasons to Avoid This Broker
cexprofx.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit as Gibraltar Financial Services Commission (GFSC) does not recognize the broker.
Despite the demo account cexprofx.com provides, it will be good you don’t waste your time on a platform that is not regulated.
Again, this broker does not offer money back guarantee which means trading on is clearly a risk. This is a con for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
Cex Pro FX withdrawal and fee — $50 for wire transfers, $25 for credit cards plus a processing fee of 10.00 and $25.00 for ePayments.
The broker also charges 10% deduction fee for an inactive account of 3 Month.
Minimum Deposit
The recommended minimum deposit Cex Pro FX offers is € 250.
On the payment methods, payment can be made via Debit/Credit card and Wire transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
Cex Pro FX Platform
Cex Pro FX offers web based trading software. Its refusal to make use of the industry standard MT4 or MT5 that comes with user friendly features for trading seems the broker is not ready to be taken seriously in the forex market.
The broker does not provide a recommended leverage. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Cex Pro FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under FCA or GFSC regulation that means your money is at risk. Its unlicensed and unregulated claims are truly a red flag and must be avoided.
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Conclusion: Is cexprofx.com a Reliable Broker?
cexprofx.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
The broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.