CM Globals is a forex broker that was registered in Australia on October 6, 2022. The company is headquartered in Melbourne, Australia, with branches in Ottawa, Canada, and Cholpon-Ata, Kyrgyzstan. They offer financial trading services in forex, stocks, commodities, indices, and more. The official website for CM Globals is www.cmglobals.com, and it primarily provides services in English. However, CM Globals does not provide services to residents of countries or jurisdictions where it may violate local laws and regulations, including the United States, Israel, Turkey, and Japan.
Background and Regulatory Status:
CM Globals has two registered entities in Australia: COMO TRADE PTY LIMITED and CMGLOBALS AU PTY LTD. They also have an entity registered in Canada called Como Foreign Exchange Limited and another in Kyrgyzstan known as Como Foreign Exchange Trading Limited.
COMO TRADE PTY LIMITED was registered on June 10, 2022, with an ACN number of 662 933 799. It previously held an Australian Financial Services License (AFSL) as an authorized representative of HLK GROUP PTY LTD, regulated by the Australian Securities and Investments Commission (ASIC). However, the license expired on March 7, 2023, and the entity is currently operating without regulation.
CMGLOBALS AU PTY LTD was registered on February 3, 2023, with an ACN number of 665 491 663. It is an authorized representative of MGF CAPITAL PTY LTD, also regulated by ASIC. Its license expired on May 6, 2023, and the entity is currently unregulated.
Como Foreign Exchange Limited was registered in Canada on November 4, 2021, with the registration address in Ottawa, Ontario. It holds an MSB registration with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), which monitors anti-money laundering and anti-terrorism financing activities. However, FINTRAC does not regulate forex trading and brokerage activities, indicating that Como Foreign Exchange Limited lacks the necessary qualifications for forex brokerage.
Como Foreign Exchange Trading Limited was registered in Kyrgyzstan on August 23, 2022, with a registration address in Cholpon-Ata, Issyk-Kul district, and a license from the Kyrgyzstan Financial Services Regulatory Authority. Its website, www.como-foreign-exchange.com, was registered on October 4, 2022, and is currently expired. Como Foreign Exchange Trading Limited does not accept clients from Turkey, the United States, Japan, Somalia, Niger, and Canada and only provides services to Eurasian countries.
Account Types:
CM Globals offers four different account types: Basic, Class, Pro, and Master. These accounts come with investment assistant services, daily announcements, and trading support and do not charge trading commissions. The specific minimum deposits and spreads vary based on the account type.
Trading Platform:
CM Globals does not specify the trading platform it uses on its official website.
Deposits and Withdrawals:
Information regarding deposit and withdrawal methods and procedures is not clearly provided on the CM Globals website.
Customer Support:
Customer support is available through phone and email, with separate contact information for Australia and Kyrgyzstan. You can also use the "Contact Us" form on their website for assistance.
Summary:
CM Globals' Australian entities have expired ASIC licenses, and the Canadian entity is not regulated for forex trading and brokerage activities by FINTRAC. Additionally, there is a lack of clarity regarding the trading platform and deposit/withdrawal methods. Currently, CM Globals is marked as "suspected of fraud" on Traderknows.
