Introduction to CXM Trading：
CXM Trading is a foreign exchange broker registered on December 30, 2019 in Saint Vincent and the Grenadines, with its headquarters located in Kingston. The corporate entity registered by CXM Trading with the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) is CXM Trading LLC, which is one of the subsidiaries of the CXM Group with enterprise registration number 234. CXM Trading's registered business entity in the UK is CXM Prime Ltd, registered on May 19, 2021, with company registration number 13407617. CXM Trading's registered business entity in Mauritius is CXM Global, registered on October 8, 2021, with company registration number C183078.
The information found on Whois shows that the domain name of the broker's official website was registered on July 2, 2018.
Is CXM Trading compliant and legal? Does it hold the corresponding financial regulatory license?
The Saint Vincent and Grenadines FSA only regulates business activities such as banking, insurance, or mutual funds, does not regulate foreign exchange margin trading activities, and does not issue foreign exchange licenses. Therefore, the entity is in an unregulated state.
According to the official website of the FCA in the UK, CXM Prime Ltd is authorized to engage in specific activities and product types, and the entity is not allowed to recommend investment services to non European Economic Area entities; Not engaging in any regulated activities with anyone who may be classified as a retail customer or selective professional customer; Do not sell, distribute, or market crypto asset derivatives; Can control but not hold customer funds. That is to say, CXM Prime Ltd can only provide services to European institutional customers and cannot provide services to non European and retail customers.
In addition, the domain name of the regulated website registered by the entity on the FCA official website is https://www.cxmprime.co.uk instead of https://www.cxmtrading.com. But this website only provides turnkey liquidity and technology packages for trading companies and professional traders, and does not provide foreign exchange trading and brokerage services.
This entity is authorized and regulated by the Mauritius Financial Services Commission (FSC) on October 11, 2021, with license number GB21026337. SEC-2.1B refers to the Class 2.1B securities business license issued by it. Institutions holding this license can engage in securities related activities such as securities trading, securities brokerage, and securities custody. So the broker can only provide securities trading services!
Trading products provided by CXM Trading：
The broker introduced on its official website that it mainly provides trading services for financial assets such as foreign exchange, metals, indices, energy, stocks, etc.
Trading software provided by CXM Trading：
CXM Trading provides an MT4 trading platform, including Windows, Android, IOS, and MAC versions. CXM Trading Ltd is the entity that provides servers for users on the MT4 platform.
Fund Security：
CXM Trading does not disclose any third-party funding regulatory information on its official website, and users' funding is not secured.
Deposit and Withdrawal Methods：
CXM Trading supports various deposit and withdrawal methods such as bank wire transfer, blockchain, and UnionPay. If there are more than 4 withdrawals per month, a withdrawal fee of $25 is required.
Leverage ratio：
The leverage ratio announced by the dealer is 1:100-1:1000, while the leverage ratio of general compliant traders is generally 1:10-1:100.
Summary：
The operating company CXM Trading provides services to users is in an unregulated state, and the broker has not disclosed any key information related to user fund security. CXM Trading is displayed as ”Suspected Fraud“ on TraderKnows.
TraderKnows reminds you that CXM Trading is a highly risky foreign exchange platform. Please stay away from this platform to avoid personal property losses.
