FX CMB is a forex broker that officially registered its website on July 28, 2023. It primarily offers financial trading services to investors, including forex, indices, commodities, precious metals, energy, and contracts for difference (CFDs). The company's headquarters location is unknown. The broker's official website supports multiple languages, including English, Italian, Portuguese, German, Spanish, and Dutch.
Corporate Background and Regulatory Status:
According to publicly available information on the FX CMB website, the registered entity is Wallwood Capital Management Limited, with its office address at 85 Great Portland Street, First Floor, London, England W1W 7LT. However, on the "Contact Us" page of their website, the provided contact address is 4 Profiti Llia Street, Kaninka Business Center, 7th Floor, Germasogeia, 4046, Limassol, Cyprus. No other relevant registered entity information is available.
Upon verification, the UK Companies House website does show a company with the same name as the registered entity of this broker, registered on May 22, 1998. However, it is currently in a state of liquidation and has a different website (www.wallwood.com) rather than fxcmb.com. The Cyprus Securities and Exchange Commission (CySEC) website does not list an entity named Wallwood Capital Management Limited.
Account Opening:
To open an account with FX CMB, you need to click "Register" on their website's homepage. During the registration process, you'll need to provide your name, personal email, phone number, and set a login password. After submission, your account will be successfully created. Once your account is created, you'll need to undergo an account verification process, which involves uploading documents such as proof of identity and proof of residence. Once these documents are approved, you can fund your account and start trading.
Account Types:
FX CMB offers four different types of real trading accounts: Standard Account, Silver Account, Gold Account, and Platinum Account.
- Standard Account: Starting spreads at 1 pip, available for forex, indices, commodities, stocks, and CFDs, with a maximum leverage of 1:30. It offers market execution, requires a minimum deposit of 250 euros, and allows trading in increments of 0.01 lots. There is no commission, and the account can be denominated in USD or EUR.
- Silver Account: Offers fixed spreads in forex, a maximum leverage of 1:200, and a minimum deposit of 20,000 euros. It has similar trading conditions to the Standard Account but with more favorable terms.
- Gold Account: Offers spreads starting from 0 pips in forex, a maximum leverage of 1:400, and a minimum deposit of 50,000 euros. It is similar to the Silver Account but with even more favorable trading conditions.
- Platinum Account: Offers spreads starting from 0 pips in forex, a maximum leverage of 1:500, and a minimum deposit of 100,000 euros. It has trading conditions similar to the Gold Account.
All accounts are available in USD or EUR and support trading in multiple financial instruments.
Trading Platform:
FX CMB provides the MT4 trading platform, including mobile and web versions. The website does not provide a link for downloading MT4, and there is no information about the trading name or the enterprise entity providing servers on the MT4 platform.
Deposits and Withdrawals:
FX CMB supports various deposit methods, including Payeer, PayBis, Binance, Bitnovo, and bank wire transfers.
Customer Support:
Users can contact FX CMB for customer support via phone at +442037699204 or email at support@FXCMB.com.
Summary:
Traderknows advises investors that FX CMB appears to be an unregulated and potentially fraudulent website with opaque registered entity information. While the broker claims to use the MT4 platform, no broker named FX CMB is found on the MT4 platform. Traderknows recommends that traders avoid this broker when selecting a trading platform to prevent unnecessary financial losses. Currently, this broker has been marked as "suspected fraud" on Traderknows.
