CMCBmarkets Review: CMCBmarkets.com a Shady Broker

CMCBmarkets is another outrageous Ponzi scheme in the making. The platform has numerous red flags making it not idyllic. The company promises investors huge profits. However, joining this venture will cause huge losses. Our main concern is the firm ownership data.

The broker has covered its traces. It is impossible to get hold of the people running the website. Once the entity exit, the market, not even the authority, can rescue you. Investment can yield better rewards. Nonetheless, you cannot just right into trading, expecting to become rich overnight.

You will need trading skills. Additionally, it is paramount you choose a reliable broker. The first thing is to ensure you are dealing with a licensed company. Unfortunately, CMCBmarkets is an offshore platform. Watch out for such brokers as they tend to operate as they please. 

There are several genuine forex trading companies in the market. These are reliable and transparent companies. You get to earn passive income without compromising your safety. These companies also have great trading conditions. 

CMCBmarkets.com Review

CMCBmarkets is a new broker. Unfortunately, the company lacks a trading history. Customers need to know how an entity has been performing in the past. The majority of the scammers survive more than a year. They collapse on arrival. They will either be exposed by their victims or financial watchdogs. 

The safety of your money is at high risk. The people running the website are anonymous. Therefore, we are uncertain regarding their qualifications. Refrain from sharing your data with such individuals. They are likely to leave you high and dry. The platform will also steal your information. Use it for selfish criminal purposes without seeking your permission. 

We urge those joining the financial market to trade with caution. CMCBmarkets is a platform that has low traffic. The venture will not survive the market past a year. They will close down the website unceremoniously. The financial market is volatile, and only a few ventures survive.

Ensure you also go through the terms and conditions before opening an account. The section will outline all the requirements you must meet. Scammers will ask for outrageous fees. Avoid bonuses and promotions as they come with unfavorable terms. The bottom line is scammers will try to retain your funds in their system.

CMCBmarkets Trading Conditions 

CMCBmarkets speaks highly of its trading software. We were expecting a superior trading platform. However, we were disappointed to find a webtrader. The interface has basic features. Customers familiar with the MetaTrader will not waste their time signing up. 

Scammers prefer using platforms in which they can easily manipulate the prices. Once you log in to the user area, high profits will be translated. However, when you request a withdrawal, the funds’ mystery disappears. Fraudsters have only one thing in mind: stealing your hard-earned funds.

CMCBmarkets offers indices, cryptos, forex, CFDs, Energies, Agricultures, and Metals. These products are volatile. Therefore, it is hard to make predictions of the prices. The legitimate platforms minimize the risks while maximizing the returns. 

The venture is offering a tight spread of 0.1 pips. It can even go as low as zero pips. There is no offshore platform with such a generous offer. You can rest assured there is commission being used. 

On the other hand, the leverage is risky. CMCBmarkets cap is at 1:100 to 1:1000. Opening an order with such a high limit will blow up your account. The moment you lose, the scammers will gain. Accept high leverage when you have a high-risk appetite and experience in trading. 

Withdrawal and Deposit 

CMCBmarkets accepts a minimum deposit of $250. Better investment schemes accept low amounts than offshore firms. You can start trading as low as $10 and above. Customers can make deposits via Debit or credit cards. However, it would help if you used the shady intermediary platform cashier.boxipay.io.

The entity will allow clients to deposit directly via their banks if the entity is legit. The advantage of using bank cards is you have the opportunity of issuing a chargeback for up to 540 days. 

CMCBmarkets withdrawal fees are sickening. The entity charges $25 and $10 for credit and debit cards. The least amount to cash out is $25. The suspicious entity has different requirements for wire transfers. Using the method, you can withdraw a minimum amount of $50. There is also an application fee of $50.

The company is not adhering to the rules of the Anti-money laundering policy. An entity can only use the same payment methods for withdrawals and deposits. Investors must also meet a 200 turnover. Failure to that a 10% charge applies. 

The broker provides customers with bonuses. To qualify for a withdrawal, customers must meet a trading volume 30 times the accepted bonus and deposit. It is outrageous but not new to us. Scammers will try their level best to retain your money in their system. 

There is also an inactivity policy. Unfortunately, the broker fails to specify the time the policy takes effect. All we know is a 10% fee applies. The bottom line is you will have difficulty cashing out your money from this system. 

Contact Details and Customer Support 

You must know where a broker is operating from. CMCBmarkets fails to provide any contact details on the website. Fraudsters observe full anonymity to limit their victims and authority from tracing them down. 

Legitimate barkers will provide you with world-class support services. If you encounter any challenge, the team will come to your aid. You will also gain relevant trading skills. On the other hand, scammers will cut you off. They will never respond to your queries.

You need all the assurance that your money is being used for the right purpose. CMCBmarkets will eventually exit the market. Their victims will be in grave danger. Unfortunately, the scheme also lacks customer feedback. It isn’t easy to know past customer experiences. 

CMCBmarkets Regulatory Status

CMCBmarkets purports to be a legitimate platform. The entity state it abides by Estonia and the Grenadines rules. First of all, no agency goes by the name. Additionally, Estonia and Saint Vincent and the Grenadines (SVG) are two separate regions. 

SVG financial body does not govern online ventures. Registering with an offshore entity exposes you to unfavorable terms. Unregulated brokers do not provide fund safety. Legit brokers, on the other hand, adhere to the strict guidelines of financial watchdogs.

You have the protection of a negative account balance. The withdrawal requirements of CMCBmarkets show the entity is to no good. You will be dealing with an exploitative venture. The scheme fails to report its daily trading activity to the authority. Watch out for bogus systems that only care about themselves. 

CMCBmarkets Fund Safety 

We cannot ascertain CMCBmarket’s creditworthiness. The broker does not have capital. They are also not working with a reputable financial institution. The money you deposit will most likely get lost. 

The venture is also operating anonymously. Scammers maintain such a high level of discreteness to cover up their tracks. They are illegally collecting funds from traders. They risk facing criminal charges. The broker’s trading conditions will automatically lead to hazardous risks.

Final Verdict 

CMCBmarkets is a Ponzi scheme. The broker will not survive a year in the market. We are yet to encounter any negative reviews from their victims. It is better to take precautions than be sorry. 

Here is a list of some of the genuine forex trading companies in the market. The platforms are transparent and reliable. Clients enjoy better trading conditions. The withdrawal process is also swift.