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55CMT (55cmt.com) is another Crypto Currency and Forex brokerage scam to hit the lucrative trading world. 55 CMT is claiming to offer investors a chance to showcase their professionalism. All you have to do is deposit with them and start seeing your profits rise. These are purely empty claims as most members are ruing signing up with this rogue platform. Read this detailed 55CMT Review to find out the truth.
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After seeing negative comments on popular social media trading forums, we decided to investigate. 55CMT is apparently refusing members to withdraw funds even after no trading has taken place. Once you deposit funds with this broker, it is the last you will see of it. These are scam artists who have been stealing from unsuspecting investors. To protect the good trading name, we have to expose their tricks. Why do investors fall for rogue online trading platforms in the first place?
Claims and promises of getting high and quick returns are what drives investors to sign up. 55CMT is targeting any investor who is blind and believes their over the moon claims. No broker can make some of the claims listed on their website possible. Professional scam artists know we all want to make an extra buck; this is why they create such platforms. They know users will be signing up in their thousands hoping to get rich quick. Sadly, 55CMT is a well laid trap.
Who are the people running this website? Have you noticed there is no mention of any names of the founding members? According to the disclaimer at the footer of their homepage, PHHLT Marketing Limited owns it. A huge problem we have with this company is using a random number as their valid registry number. Another huge issue is they claim to be based in St Vincent and the Grenadines.
Offshore brokers have been known to create cloned trading websites and steal from investors. And this is what 55CMT has done which is in violation of trading rules. Anonymity is another reason why investors should stay away from 55 CMT. Instead of having to deal with such brokers, you need to opt for proven alternatives. In this detailed review, we will help you know more about tricks used by scammers.
What we found out regarding their licensing status is shocking to say the least. Scam artists will do or say anything to try and make their platform look legit. What 55 CMT has done is use random numbers as their registration number. To confirm their certification, we checked with leading regulatory bodies. We contacted ASIC, COSNOB, CySEC, FCA, FSA, FSCA, NFA, and SEC. None of these institutions has ever heard of 55 CMT. It makes us question their intent.
Another reason to doubt 55CMT is lack of credible certificates to prove their status. Why have they failed to post any details regarding their licensing? Copies of their licensing would go a long way in ensuring investors verify licensing allegations. These scam artists are clearly not going to post documents they don’t have. Opening an account with these scam artists is committing financial suicide. Any unauthorized broker should be ignored at all costs to avoid any mishaps.
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After checking for any worthy feature with this broker, we couldn’t find any. And this is a statement we are dealing with an insane platform. They are anonymous and are located in a scam paradise. These scam artists are refusing to allow members to withdraw their hard earned money. To put it in a clear perspective, 55CMT is just playing with investors. Once you deposit funds, don’t expect to hear from these scam artists. They are laughing all the way to the bank. You have been warned.
Why have they failed to offer newbie investors with a demo account? Demo accounts are used to give traders a chance of knowing what to expect with a certain platform. Without a demo account, users are signing up with no known experience. They want investors to sign up blindly and deposit without having proof the platform works.
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Another problem we noticed with their website is lack of proper withdrawal information. Sure, depository channels are available and in plenty. Users can deposit by using MasterCard, Skrill, Visa, and others. A huge problem is lack of proper information regarding the withdrawal procedure. These are questions you need answers to before opening an account. They have hidden such information for a reason, to con investors.
A huge problem with 55CMT is having no stable support network. Sending emails is not the helpful as it is a one way communication system. These scam artists can decide not to answer your questions via email. Why don’t they have a live chat support team? They are clearly hiding their real identity for a reason. Scam artists fear backlash from authorities and victims. Having no accessible way of contacting them makes them feel safe. And it’s why they have an unresponsive team.
Having a web based platform is ideal if only you have properly secured it. 55 CMT is not securing their web based platform as their website lacks basic security. Lack of SSL Encryption makes their platform easily accessible by third parties. Hackers can easily take advantage of such insecurity to steal credit card information. And it wouldn’t be the first time an unstable platform has had its data breached. Stay away from 55CMT as your personal information is not secure.
How can funds be safe with a broker who fails to properly secure their website? Without DDoS Encryption, transferring of funds is not secure. It is also possible members are depositing funds straight to owner’s bank account. How exactly do they handle funds deposited by members? Why have they failed to post any details regarding banking institution used to deposit funds?
All evidence clearly points to this platform not meeting acceptable trading standards. 55 CMT is a scam which should be exposed by all parties. Stay away from these scam artists and safeguard your interests. Warn your family and friends from joining this brokerage firm.
Adding this brokerage firm to our blacklist will help protect our readers.
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Wishing you a successful trading experience.
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