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Abstract：The website says that CMX Markets is an ECN/STP broker, giving traders a broad selection of trading assets, including FX pairs and CFDs. It lists its benefits as follows: cutting-edge technology, exceptional customer service, worldwide market financial instruments, and attractive promotions.
The website says that CMX Markets is an ECN/STP broker, giving traders a broad selection of trading assets, including FX pairs and CFDs. It lists its benefits as follows: cutting-edge technology, exceptional customer service, worldwide market financial instruments, and attractive promotions. Looking at the general idea, the platform seems appealing. However, it just attempts to deceive investors into believing it is legitimate, while in reality, all of these criteria are symptoms of a scam.
What about its licensing and regulation？
One of the most crucial elements to consider when dealing with any sort of Forex is regulation. The WikiFX app indicates that CMX Markets is unregulated. It should be reminded that CMX Markets is not governed by any financial regulatory body.
Furthermore, The WikiFX App is a forex search engine and trading platform that informs you that the most crucial factor to consider while looking for the finest forex broker to invest in is their regulatory status. In comparison to other platforms, it contains more than 38,000+ listed brokers, both regulated and unregulated.
The data in the WikiFX database is sourced from legitimate regulatory bodies like the FCA, ASIC, and others. Fairness, impartiality, and facts are also emphasized in the released information. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or any other unreasonable expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up-to-date.
CMX Markets claims to be overseen by the National Bank of Moldova and is regulated and supervised by BC Moldova Agroindbank SA.
However, according to the information we have, Moldova lacks the power to grant forex trading licenses or control forex activity.
CNMV has issued a warning.
In addition, we discover a warning record from the Spanish financial body CNMV.
On the CNMV last year, a warning record was equaled with CMX Markets. The watchdog informed the public in the update that the business is not approved by it and is targeting individuals in Spain.
How secure are your investments with CMX Markets？
The first step in protecting yourself against unscrupulous internet brokers is to do extensive due research on the firms and entities to whom you want to transmit payments. In all likelihood, you should consider its payment options as well as its withdrawal terms.
The portal does not display any information about the deposit or withdrawal methods that CMX Markets accepts. You can just see the names of payment options, with no information regarding fees, currency rates, or terms and conditions.
All legitimate forex brokers accept credit cards, debit cards, and other online payment methods and will provide detailed information on these options. That is, it looks like CMX Markets is not a reliable broker.
Speaking about money to invest in a certain broker. We are all aware that forex trading is a high-risk activity, and you might lose your money overnight if you deal with the incorrect broker.
However, WikiFX's goal is not just to supply its users with broker information, but also to aid traders in reclaiming their money from fraudulent brokers such as CMX Markets. WikiFX's objective is to work with financial authorities to combat the unlawful operations of all scam brokers, whether regulated or unregulated. When WikiFX gets complaints from traders about their broker, the information is sent to the authorities, who will take the required steps to settle the situation.
You may also contact WikiFX Customer Support for immediate help.
Based on the evidence shown above, we can infer that CMX Markets is a hoax. If you are unsure how to locate a licensed broker, go to www.wikifx.com or download the app from the App Store or Google Play Store to verify the broker's details on the go.
Visit CMX Markets dealer page on WikiFX: https://www.wikifx.com/en/dealer/2421751686.html
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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