Thinking of getting into business with CmFXTrading? Here is what you must know about this broker. Carefully read this review to find out if cmfxtrading.com is the trading platform you will want to trade with.
Table of Contents
About CmFXTrading Broker
CmFXTrading is an offshore brokerage company with a lot offer for traders. The location of this broker is Scotland.
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CmFXTrading offers investment packages like Gold, Premium, Bronze, Titanium and Diamond and they are paid in BTC.
We found CmFXTrading as a shady platform as it could not provide critical insights like spreads, leverage, trading software and also trading assets. This tells us a lot what this broker is up to so keep off from this scam broker.
cmfxtrading.com: Reasons to Avoid This Broker
cmfxtrading.com is a platform with no financial authority overseeing its financial services. What that means for traders is that their money is at risk. This we can’t stop saying the importance of regulation especially when you are dealing with an offshore broker like this one.
Another disturbing thing we noticed in cmfxtrading.com is that there is no free account for traders. If we can’t test the services of CmFXTrading on a demo account, how then can we know its viability in the forex market.
cmfxtrading.com is a clear scam that claims to have its address in Scotland, but not licensed by Financial Conduct Authority, UK. As a matter of fact, FCA labeled this broker scam. It is a big warning for traders to avoid this broker.
Withdrawal and Deposit
Withdrawal process
We could not find any information concerning the withdrawal and fee CmFXTrading charges. This is just a way to reap traders’ money and even frustrate them when they ask for their money.
Minimum Deposit
CmFXTrading minimum deposit is indicated $300 on users’ area. This amount is mentioned differently from the investment packages offer by this broker.
The payment methods of CmFXTrading are BTC, Ethereum and Wire Transfer. Making any payment with this broker already is a risk, that FCA has made it clear. So beware!
CmFXTrading Platform
We could not find any information if CmFXTrading uses MT4 or MT5.
CmFXTrading leverage is not mentioned by the broker. Well, stay clear from this broker as it is a way to make traders put good amount of money expecting to get big profit.
In all of the broker’s packages, there is no offer for a free account for traders to test the platform before they consider depositing their money.
CmFXTrading Licensing and Regulation
From our findings, CmFXTrading broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk with this broker. FCA, UK has reported that so be warned. Their financial services are shady and must be avoided.
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Conclusion: Is cmfxtrading.com a Legit Broker?
No, cmfxtrading.com is not a legit broker for traders and because of that, traders are advised to stay away from this broker to avoid being scammed.
The warning is on the wall already for traders to avoid crossing path with this broker.
To this end, cmfxtrading.com is a turn off and therefore we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.