CMX Markets Review: All the Hidden Scam Facts Revealed!

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CMX Markets Review: All the Hidden Scam Facts Revealed!

CMX Markets is another Forex and CFD broker offering investors heaven and giving them hell. According to CMX Markets, they are offering a wide array of currency pairs and CFDs. All this is being done with a leverage of around 300:1 alongside the MetaTrader4 platform.

CMX Markets Review

What Currency does CMX Markets Offer?


CMX Markets is offering over 50 forex pairs with a number of eye catching currencies. Some of the currencies this broker is offering include Russian Rubble, Swedish Krona, Hong Kong Dollar, South African Rand, Singapore Dollar, Norwegian Krone, Turkish Lira, Polish Zloty, Mexican Peso, and Danish Krone.

CFDs on the other hand cover some of the precious metals we have such as silver, gold, oil stocks, natural gas, and several indices. CMX Markets is boasting of a demo account which they claim has been tested and approved. According to one of the developers of CMX Markets, the demo account has a benchmark of EURUSD spread floated within a range of 2 pips and 2. I Pip which is considered to be half a pip higher than what other platforms offer.

One of the main concerns we have with CMX Markets as a trading platform is regulatory status. This is one of the many concerns we will highlight in this detailed review. As our dear readers and members, we urge you to read on and find out the truth. Some of the information we will divulge will shock you. Yes, we are simply here to iron things out. Forex trading should be fair to all.

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How Safe are your Funds with CMX Markets?


When you are dealing with any type of Forex, one of the most important factor is regulation. It should be noted that this is a security exchange platform and as such, we should all be wary. CMX Markets is NOT regulated by any financial authority whatsoever.

CMX Markets Scam

While conducting our research on CMX Markets Investigation, we found out no known security regulatory body knows this bot. Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) have no clue what CMX Markets is. We even tried to reach out to the Cyprus Securities Exchange Commission (CySEC).
Shocking news is that we don’t have a clue on the name of the company that is running CMX Markets. This makes a Forex platform such as this a dangerous one. It also means CMX Markets lacks all forms of credibility.

Will I be Insured?


Our concern and main advise to you is always trade with authorized and licensed brokers. Forex brokers that have been given the thumbs up by an official regulator are safe to invest in. One of the advantages of having regulators on your side is having your funds covered.

With FCA backed brokers, your funds will be insured up to over 50,000 GBP. A broker who has been regulated with CySEC will insure up to 20,000 EUR.

How do I Withdraw with CMX Markets?


As earlier mentioned, we will reveal some damning news. CMX Markets main website does not show members or users payment methods CMX Markets accepts. All legit Forex brokers accept payments from credit cards and debit cards. These cards are either VISA or MasterCard. Approved Forex brokers also accept bank wire and e-wallets such as Skrill and Neteller.
As from October 2018, Skrill took a huge step with its anti scam policy adoption clause. This means they only accept payments from companies or Forex brokers with legit licenses.

How does CMX Markets Scam Work?


In order for scammers to pull a huge fraud, they have to be well organized and sharp. CMX Markets has employed a lot of clandestine companies to help run their illicit operations. One such service is call centers and also bot scam websites.

Once you link to any of these websites, you are greeted with a pretty irresistible offer. You are offered fast, easy and guaranteed money in exchange for a small amount of money. All their ask from you is to sign up using your email and give them your phone number. Once registration is complete, they immediately transfer you to an unregulated broker. On this broker website, you are required to cough up $250 as initial deposit.

One of the tricks they use is ensure that your first trades will be extremely successful. You should know that this is unreal since this scammers will later manipulate your account. Why you may ask? So as you are hooked to deposit more funds in the hope of earning a lot more. After you deposit more money, misery starts to happen.

Investors receive a phone call from a so called “senior account manager” who talks in a cool tone. He professionally urges you to invest more if you want to get some real cash. This is where most people start depositing over $10,000 for more cash incentives. Too bad that people don’t notice they’re are scammed until you ask for a withdrawal. They flatly tell you that you can’t withdraw.

Why Can’t I not Withdraw money with CMX Markets?


CMX Markets Fake

Being smart scammers, they will professionally tell you haven’t met minimum trade requirement volume. Evidence is that these scammers will never allow you to withdraw your money once you deposit with them. Simply put, they refuse to pay you back your hard earned money.

If you want to avoid harassment while dealing with Forex, simply get approved brokers. Approved brokers ensure your money is safe and you can withdraw anytime you want to. Why should you be troubled with fake brokers when you can get the real deal?

What Should you do When Scammed by CMX Markets?


Having been scammed by fake forex brokers is not an easy thing. One viable option you have to claim your money is filing for a charge back. You can file a charge back with your credit card company. After doing this, you will at least be able to recover what you deposited with this product. Both MasterCard and Visa extended by 540 days the period you are allowed to file for charge back.

Scammers such as CMX Markets will try to trick you into giving them your banking details. Information that you shouldn’t give is your credit card number and online banking password. When you give away such information, best you can do is to block your credit card. Also, its best to change your password for your online banking services.
Never trust those recovery agencies who claim they can help get your money back. Despite what they claim, they don’t retrieve even a single penny. What they do is collect cash in advance leaving you in a deeper hole.

Fake Reviews and Testimonials


Scammers are so good that they hire webmasters to post positive reviews about their products. You can easily see positive reviews about CMX Markets floating through the web. These reviews are simply meant to legitimize this one of a kind scam. You should never trust such reviews.

Another tip scammers use is using fake testimonials by people claiming to have won with this product. Also, this is used to make viewers trust their product more and ensure they sign up.

CMX Markets Final Verdict


Is CMX Markets a Scam?


CMX Markets Scam Review

Hell YES. CMX Markets is a scam and should be avoided at all costs. We have proved beyond reasonable doubt that you should not trust these Forex brokers. Stay away from them lest you fall into their trap and end up losing hundreds of dollars.

Instead of trading with Fake brokers such as CMX Markets, why don’t you get recommended and tested brokers? These brokers will save you money and earn you money as well. You will also feel comfortable with brokers that the trading community use.

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