Are you a FX trader? Consider using CMTPRO broker for trading? If yes, here is what you must know about this broker. See reviews to find all about it.
CMTPRO: What is it?
CMTPRO is an offshore brokerage company with a lot of promises for traders. This broker does not indicate its location nor office on the website. Also, the broker offers different account packages such Individual, corporate and joint accounts.
What is more, FX broker trades on the following instruments like forex, stocks, commodities, crypto, bonds and indices.
To clarify CMTPRO claims, traders must know they are dealing with an unknown broker with no regulation over its head.
Withdrawal and Deposit
CMTPRO Minimum Deposit / Withdrawal process
CMTPRO leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. Sadly, this is a common scheme usually used by suspicious FX broker to keep traders under confusion.
More so, CMTPRO minimum deposit is stated $250.
As for the payment methods, the broker mentions different options. However, you should not consider making any payment with this broker because it is a risk. So beware!
CMTPRO Platform
CMTPRO offers web based trading platform which cannot be compared with MT4 or MT5 (Industry standard trading platforms). Truly, it gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1:500. From all indications, we say don’t consider doing that with an unregulated forex broker like this one, because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Why You Should Avoid Cmtpro.com Broker
First of, Cmtpro com has no financial authority overseeing its financial services. We believe this broker is not worth your money because the Belgian Financial Services and Markets Authority (FSMA) has enlisted the broker fraudulent. See below.
Another red flag we noticed in this broker is that there is no demo account for traders. If traders can’t test the broker on a free account, how then can we know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
CMTPRO Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Conclusion:
Cmtpro.com claims to be a genuine trading broker is not legit. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers . Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Was this article informative? Share with us your experience on the comment section below.
Heard of Prime-chain-markets , Forextimeprime brokers? Read here!
