The Dubai brokerage company offers clients to assemble a portfolio of sought-after assets and start trading on the “best conditions”. According to the official website, the organization has a license from the DFSA and has been operating for 12 years. However, it is not known whether this data corresponds to reality, as the company did not provide copies of registration documents and licenses.
Should you invest your money in trading on this platform? Our review of CIMD LTD will help you understand whether this broker is as reliable and safe as it claims to be.
How to Trade
The brokerage firm provides access to over 3,800 financial markets, including forex, commodities, and crypto. Traders can utilize:
- More than 63,000 assets.
- 5 trading plan options.
- More than 250 analytical tools.
CIMD LTD presents leverage up to 1:500 and spreads from 0.0 pips. However, other values are indicated in the description of trading accounts: leverage from 1:20 to 1:100, and spreads from 0.8 pips.
CFD traders can take advantage of round-the-clock technical support and consultations from a personal manager at CIMD LTD. The company’s accounts are not available on social networks, and online chat is available only to registered users.
CIMD LTD Vital Info
The site owners claim that this resource is one of the leaders in CFD trading in the Asian and European regions. It is worth noting that they do not provide their names and facts from the history of the project, but they claim the presence of 837 thousand active traders. However, you can find out the duration of the platform by looking at the domain, which was registered only in April 2024. This suggests that the statistics are most likely falsified.
We found out that the founders of the project published the real address of the brokerage firm’s office in Dubai. In addition, in the state register of this country, we found license DFSA F001383 dated 2012. However, this registration number belongs to CIMD (Dubai) Limited, which has an official website grupocimd.com. Unfortunately, we have not found any connection between this organization and the cimdltd.com domain.
I could have immediately guessed that it was a scam, if I had been more attentive and experienced... Now I see that there is almost no information about the company on the site, and there are only a few statistics. However, I thought at first that the creators of the platform are sticklers for brevity and therefore are a bit wordy, thinking that statistics are eloquent in themselves. For some reason, I did not get the idea that all these figures are invented by the owner of the platform. Now I have to accept the results of my excessive gullibility :( The crooks from cimd ltd cheated me out of 2,360 euros. The manager
advised me to start trading with “Beginner” account. He motivated by the fact that on “Test” there are limited opportunities and conditions there are much worse. I believed and gave in to the entreaties, as I decided that it would be better, than I made it much easier for the scammers to solve their main task - stealing money on a large scale. My trading was successful at first, but as soon as I applied for withdrawal, my account was blocked. I'm trying to contact managers for the second week to restore my account on cimd ltd and try to withdraw money, but I can't get any luck. These bastards don't respond to my messages at all.
At first glance, this company seemed reliable and safe to me. However, I am disappointed :( How can they be so unprofessional??!! I invested 20% of my savings here expecting a capital increase. Instead I got constant technical glitches and incompetent customer service. The staff offers template answers and does not help in solving problems, or they are unavailable at the most critical moments. In addition, the interface of the platform here is inconvenient for traders to use: the slow operation of the system leads to loss of money and time when making deals even for experienced users. High commissions also aggravate the situation. My investing now looks like an extremely risky decision. I do not recommend this resource to sensible people.
I tell all my friends - avoid this scam. You can't expect anything good from Cimd LTD. I invested 15,000 usd dollars and then it disappeared from my account in one day and I don't understand anything. The support does not answer, the phones do not work. All my attempts to find out something ended with no result. Thieves and scammers have opened cimdltd.com and I have the impression that I am not the only victim of such a scam. I am now convinced that this platform is operating illegally and it does not have any legal registration. Managers promised me the best trading conditions, but I realized that here the program is set up specifically so that everything goes straight into the pockets of scammers, and they will not even allow clients to trade.
I am 100% confident in the reliability of this company! It has been in business for a long time, 12 years now, it has its headquarters in Dubai where the regulators have strict requirements for brokerage firms. I know that many such firms do not survive even a year, and some work for 3-4 years and close down. Besides the fact that CIMD LTD has the regulator's control, I am also pleased with the stable work of the trading program. Thus, I can be sure that everything here is reliable and no one will cheat me. It is not engaged in deception because it has a profit from commissions paid by traders. That is, the broker is interested in giving clients honest service, so that they trade with profit, or at least in zero, but better in plus, as users will trade with large volumes in the future, and therefore will pay more commissions, and this, in turn, will give more profit for CIMD LTD. I can confirm on my own example - the quotes here are honest, they do not differ from other sources, as I analyze them on Tradingview, and I open and close trades directly on this terminal. Withdrawal of funds is available, the employees do not ask me anything and do not require any extra documents. Yes, you need to go through identity verification, but it is a normal procedure. All legal companies require KYC, because the regulator requires it from the broker in the first place, otherwise - it will revoke the license. I also liked the conditions, I was pleased with the low spreads - less than a point and the commission is also small. I did not see such a practice here that after 100 trades I can get losses due to the fact that the costs will eat up all the income. The platform lacks only a virtual type of account. But this is not a very big problem, because the starting deposit is low on cimdltd.com. You can safely invest 100 euros, take lots of 0.01 and trade on minimal volumes, practicing and testing the platform.
I invested 600 USD, tempted by the promises of high returns. At first, trading went very smoothly: there were regular reports and friendly support. But when I tried to withdraw some of my profits, I was faced with the fact that my application was ignored by Cimd ltd staff. Then the site became inaccessible and the support stopped responding. I studied the brokerage firm more carefully and realized that it was a scam. I don't understand how I entrusted funds to such a false broker!!? This site is designed carelessly, it does not even have the most necessary documents. This is not the way of decent brokerage companies! Now I am sure that the address and other contacts here are fake. Anyway, I looked at all this and decided that I had believed in this scam in vain. What could be attractive here at all!!! I lost here not only my funds, but also my faith in the honesty of forex companies. Traders, do not invest money in Cimd ltd!