TradeCMX Review - Is it scam or safe?

Item: TradeCMX
Rating: 1 / 5
Author: Forexbrokerz

TradeCMX Review - is tradecmx.com scam or good forex broker?

RATING: 1 / 1 REVIEWS

TradeCMX is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

Trading Account	Minimum deposit	Min. trade size	Maximum leverage	Average Spreads
Standard	$50	0.01	1:500	1.8 pips

Clients of TradeCMX are offered a Standard commission-free trading account with variable spreads and micro tradeable lots on the MetaTrader 4 platform.

In addition, there are 2 Premium accounts (VIP & Diamond) are available to those who deposit at least $20 000. We do not recommend investing large sums in offshore brokerarages for obvious reasons

In fact, the variable spreads offered by this broker are above average, as according to the information on the website typical ones amount 1.8 pips on EUR/USD. In comparison, another offshore broker, FxChoice, offers average spreads of 1.2 pips on its commission-free accounts. For further information and comparison, you may look up the real-time spreads of 15 leading brokers here.

As regards leverage, TradeCMX offers levels up to 1:500, which is considered as a high ratio. Indeed, many brokers offer leverage of 1:500 of higher, but do not feel obliged to use this maximum, as you may lose mora than you have initially deposited.

Keep in mind that TradeCMX brand does not provide services to residents of the USA, Japan, British Columbia, Quebec and Saskatchewan and some other regions.

The Company. Security of Funds

Company	Country	Regulation
TradeCMX (SV) Ltd.	SVG	N/A

TradeCMX offers wide range of financial instruments for trade: a number of forex pairs, CFDs on shares, indices, bonds, and metals, as well as cryptocurrencies.

The company that operates the brand is TradeCMX (SV) Ltd., which is registered as International Business Company (IBC) in St. Vincent and the Grenadines. SVG is a popular offshore forex destination where IBCs are not obliged to meet capital adequacy requirements, to keep client money in segregated accounts, nor to arrange a compensation scheme in the event of insolvency. Therefore, doing business with offshore brokers is very risky. What’s worse, many of those companies are pure scams, so you’d better stay away.

Trading Platform

TradeCMX supports the most popular front-end application in the forex industry - MetaTrader 4 (MT4), desktop and mobile versions available.

The platform is equipped with 30 built-in technical analysis indicators, over 2 000 free custom indicators and 700 paid ones, allowing you to analyze the market of any level of complexity. Besides, you create and use automated trading programs (Expert Advisors).

Unfortunately, we could not open a demo account and test TradeCMX’s MT4.

Methods of Payment

TradeCMX offers its clients the following payment modes: credit/debit card (Visa, MasterCard), bank wire transfer, and e-wallets Skrill, Neteller, FasaPay, as well as Bitcoin.

Conclusion

TradeCMX is an offshore forex and CFD broker that supports the MT4 platform. Although its product portfolio is extensive and it offers flexible payment methods, this broker is not recommended, mainly due to its offshore registration. Besides, find its spreads are above the average, and could not open a demo account, which raises a red flag about the broker’s credibility. To sum up the above:

Pros	Cons
MT4 available	Not regulated
Commission-free trading	Spreads above the average
Rich product portfolio	No demo account

Latest news about TradeCMX

No news about TradeCMX . Check back later.

Broker	Advantages
	FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
	Forex.com is a large broker listed on the New York Stock Exchange. We like it not only because it’s regulated in the U.S., Japan, Australia, Canada and Hong Kong but also because it offers very good spreads and superior execution.

	XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
	FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
	FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
	FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
	FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
	HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.
	Exness is a leading forex broker, offering MT4 and MT5 platforms. Traders can take advantage from a true ECN environment and trade on ultra tight spreads, starting from 0 pips.

Broker	Country	Regulation	Platform	Min Deposit	Review
	Cyprus, UK, Mauritius	CySec, FCA, FSC	MT4, MT5, Web	$10	Review Website
	UK	FCA	MT4, Web, ForexTrader, Tradable	$50	Review Website
	Australia, Cyprus	ASIC, CySEC	MT4, MT5, Iress	$100	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, MT5	$5	Review Website
	UK, Australia, South Africa	FCA, ASIC, FSCA	MT4, Trading Station, NinjaTrader	$50	Review Website
	UK, Cyprus, UAE, South Africa	FCA, CySEC, DFSA, FSB	MT4, MT5, FxPro Markets, cTrader	$100	Review Website
	Cyprus	CySEC	MT4, MT5, Web	$1	Review Website
	Belize	IFSC	MT4, MT5	$100	Review Website
	Cyprus, UK, South Africa, UAE	CySec, FCA, FSCA, DFSA	MT4, MT5, Web	$5	Review Website
	Cyprus, UK	CySEC, FCA	MT4, MT5	$1	Review Website
	UK	FCA	MT5	$5	Review Website
	UK	FCA	MT4, Web, MT4 for Mac	$100	Review Website

Traders` reviews for TradeCMX

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Platform

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