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The best thing that you can do is to refrain from venturing with CMPmarkets. They do not have a trading history. Moreover, it is hard getting information regarding their trading activities. Try regulated brokers instead.
CMPmarkets is a company that views itself as a pro-investment venture. They assure investors that their main objective is to maximize their profits. You will allegedly trade with low costs. The forex trading venture also promises its clients a tight spread.
Unfortunately, we have enough reasons to believe that the company is fraudulent. They have no intention of helping traders. Investors can open a trading account by signing up. The entity is also offering a trading bonus to its clients. You will get a 100% bonus on your deposit.
However, financial regulatory bodies are against companies having such lucrative opportunities. This is because the money legally belongs to the platform. Therefore, you need to meet certain trading volumes to be able to cash out your earning. Scammers use this tactic to lure in more victims. You will try cashing out to no avail.
Moreover, CMPmarkets is involved with a referral program. We take that this is the only source of income of this firm. They are not genuine and the only way of acquiring funds is through subjecting their existing clients to getting more customers for them.
Invest with transparent Forex trading companies that have been in the industry for years. These brokers are genuine and you can also read their happy clients’ reviews. You are going to earn real-time returns if you trust the right ventures. Trade with caution as the industry is plagued by multiple fraudsters.
CMPmarkets is a platform that is trading Forex, CFDs, and Cryptocurrencies. Investors can trade various currency pairs like GBPUSD, AUDUSD, USDJPY, and EURGBP. Moreover, the firm states it has won a number of awards in the market. Sadly, the information is unverified.
Investors are assured of trading via their own term. The entity has an MT5 interface. Once you open a trading account you will have the power of modifying the leverage you want to attain. The platform also has a swap-free mode.
CMPmarkets claims that withdrawal and deposits are processed in a timely manner. Additionally, their customers can use multiple methods to execute on the same. The platform moreover allows their clients to view their account information whenever they please.
We also learned that the broker holds contest statistics. You can also activate your bonus. The best thing that you can do is to refrain from venturing with CMPmarkets. They do not have a trading history. Moreover, it is hard getting information regarding their trading activities.
The company exercises high anonymity and once they exit the market it will be hard tracking them down. They leave no tangible info that can be used to incriminate them. The best thing that investors can do is to choose a more reliable and legit entity to transact with.
Trading Conditions of CMPmarkets
The entity offers a spread of 1.1 pips on the EURUSD currency pair. The company is allegedly offering cTrade and MT5 trading interface. However, we found that this is a false claim. Neither of the above trading interfaces is availed.
Moreover, it also appears the entity does not have trading software. The red flags we have discussed above are enough to show you the kind of broker CMPmarkets is. The trading spread that the entity showcases are fake. The entity also presents trading charts that belong to a third party.
The company is not involved in any trading activities. Therefore, there is no leverage or spread that you are going to get from them. Nonetheless, this venture advertises a spread of 1:500 which is beyond what the financial bodies permit.
CMPmarkets Withdrawal and Deposits
The platform accepts funds via WesternUnion, Credit and Debit cards, and BTC. The minimum amount that you can deposit is $100. If still, we do not convince you that CMPmarkets is a useless venture it would be best to make a deposit using the credit card option.
This is because you allowed up to 540 days to issue a chargeback. It is an ideal opportunity that banks have established to mitigate scam activities. On the other hand, if you pay using cryptocurrencies you will not know the person that receives the funds neither will you be able to get your money back.
Additionally, CMPmarkets leaves out essential information. We do not know the times it takes to process the cash-out request, or if there are any applicable fees. The broker is operating as it pleases without a Term and Condition policy.
It is a huge red flag when an investment firm is not guided by any rules. The company is capable of inflicting hefty charges on their clients. The best thing that you can do is to trade with licensed firms. Walk away from this entity when you still can.
Regulation and Registration
CMPmarkets is a platform that presents false information to appear as though it is legit. The venture allegedly is regulated by the European financial watchdog. The address of this broker shows that it is based in the US.
It does not add up and this should be treated as another red flag. The two countries which the venture associates itself with have strict rules for investment schemes. The firm doesn’t have a legal document. Therefore, the EU and the US have strict rules that would never allow this scam to collect money from their citizens.
Additionally, the leverage cap that CMPmarkets permits is that of 1:30. The broker must also deposit reasonable capital that is supposed to act as compensation to their clients in case of insolvency. You stand a chance of getting 85K GBP. However, once this broker we are reviewing decides to close down their business there is nothing that you can do.
Your money will be trapped in their system. The best thing that you should do is to look for regulated forex trading companies that are genuine and transparent. Your security will be observed. Moreover, your personal data will not be sold to third parties.
The office address of CMPmarkets is allegedly at 62 Simmons St NW Atlanta GA 30318 1219. However, the broker is an offshore firm that is operating discreetly. They do not want to blow up their cover. This eliminates the possibility of the law enforcement going after them. The venture is a dirty scheme that is not worth your trust.
Moreover, there is no genuine method of communication. The entity is a Ponzi scheme that does not have a phone number. Investors can only reach the broker via telegram. Scammers have the worst customer support, team. Their only goal is to get rich via the money you deposit.
The Domain Insight
CMPmarkets is a company that has been in the industry since September 2019. Their domain is expected to expire in 2021. It is impossible getting information regarding the people running this venture. Traders should be keen when they encounter such a messy scheme.
CMPmarkets is a platform that goes the extra mile of featuring false testimonials. The information purports that traders are making over $1500 in a week. Some over claim having joined the venture in 2016. The information is misleading and you should not make a judgment to sign up using this data.
There are no payment results that are available. Moreover, the company doesn’t have a customer support team. The lack of a regulatory document shows that this is an illegal venture. Invest with legit forex trading companies that are transparent and legit.