The brokerage firm positions itself as a “trading gateway to the global digital and financial markets”, claiming that it is headquartered in the UK and Australia. However, we did not find any documentary evidence of the company’s registration and licenses on its official website. In addition, there is no information about the project’s history and team.
Is this organization reliable? Is it profitable for you to open a brokerage account here? In our CMCM review, we will delve into these aspects to find out how safe it is to cooperate with this broker.
How to Trade
The company’s clients can trade CFDs on cryptocurrency, stocks, currencies, commodities, energy, and global stocks from one account. Online trading is accessed via WebTrader with no downloads required. On the CMCM platform you will find 5 tariffs with the following parameters:
- Over 250 assets.
- Guaranteed return of 3%-3.5%.
- Insurance reimbursement.
- Zero transaction fees.
The most advanced levels of trading plans include daily signals and a fully managed account service. You can earn passive profits by investing capital in the broker’s trust management.
CMCM claims that it uses ECN/NDD modes and there is no dealing desk on the platform. However, it does not provide any proof of this.
Additionally, you will receive ICO access services, a separate account and a secure wallet. Training for beginners is not provided on this resource.
CMCM Vital Info
The owners of the platform assure users that “millions of clients from more than 140 countries” trade on their terminal. Despite this, they do not disclose any information about themselves and the history of the company. On the site we found only one mention of any specific dates – the years 2011-2024 are indicated in the footer. So the company has been operating since 2011? No, the domain was created only in April 2024, and it is unlikely that an online service could operate for 13 years without a website – this is contrary to common sense.
We checked the registers of legal entities in the UK, Australia and other countries in order to find out the legal aspects of CMCM. We saw that there are a lot of companies with this brand in the world, but there are no UK or Australian brokerage organizations among them. Finally, we did not find the hero of our review in the registers of the financial commissions FCA and ASIC. It turns out that this broker has been working on the market for a couple of months, without registration of a legal entity and permission for financial activities? This cannot be stated categorically, but the likelihood of its illegitimacy is very high.
I traded here for only a month, and I was not satisfied with the conditions. First of all, it is an excessive spread, not 0.3, but more than 3-4 points and this is in a calm market! There are constant glitches in the cmcm terminal, which may simply not respond to login and password. I have a number of issues with the security staff: they can freeze withdrawal of funds or cancel all profitable trades for an arbitrary period. What is remarkable is that they do not cancel losing trades. How am I supposed to understand this?!! But the biggest disadvantage of the platform is the extremely long withdrawal time. I withdrew money twice with cmcm, and the broker delayed transactions to the maximum: the first time - for 7 days, and when I withdrew the full balance, I had to wait for 2 weeks.
I am a beginner trader, so I can't claim that I made the right choice when I opened an account with this company. However, I can't say anything bad about CMCM during the short period of cooperation. I expected to see more attention to inexperienced traders, but it turned out that the broker does not offer a cent account or demo-version, only introductory consultation of a personal manager is provided for the period between registration and account funding. I wished I had tested these features myself before registering for an account. Meanwhile, I don't see any major drawbacks at www.cmc-m.net. I chose a broker from those who operate in the UK under the supervision of the FCA, as I read reviews on the web, and they write that this is the strictest supervisory body. Of course, a significant disadvantage for me was the requirement to the amount of minimum deposit, and a plus - a high level of leverage. I liked the work of technical support, where I can contact at any time👏 competent operators treat even trivial problems with due attention.
Cryptocurrency rates are updated on the terminal with a time delay. I can't say it's always 100% of the time, but I've noticed it often. The platform as a whole slows down and the platform does not guarantee the accuracy of the image on the market.
I registered on the CMCM platform recently. My trader friend advised me to open an account with this broker because the company is reliable and regulated by a reputable UK regulatory body. The legal basis for the broker's activity is of great importance for my choice. I have been scammed many times and lost large sums. I do not have any complaints about CMCM yet.
I started to notice a strange behavior of quotes on the chart when they approached the stop loss, about a couple of weeks after I started trading. The strange behavior was noticeable more clearly on the tick chart, I even filmed it and sent it to CMCM support, and no one replied to this message. The situation was repeated many times :( manipulations are clearly from the broker's side. I worked with minimal volumes, my total deposit is about $5,450. I think there will be more weirdness on the charts at higher volumes. I am disappointed with the constant loss of connection on cmc-m.net! The connection drops on the platform suddenly, but the order execution request remains. And when I can log into my account again, I see huge losses. Almost my entire deposit was drained for this reason! I can not call such actions other than manipulation, CMCM is a scam project!!!
This broker always comes up with bad things with withdrawal of money. CMCM administrators very often cancel withdrawal requests. They give different reasons or sometimes they don't give any reasons at all. I manage to withdraw only the part of my deposit that I deposited and nothing of what I earned. I don't know if this is the case for other users, but I have had all my profitable trades canceled for two weeks when trying to withdraw money. The broker CMCM approved a request for £2k with the deduction of the £280 profit amount I made in the past week. I'm thinking about what does this mean?
I read reviews online about Cmcm and saw some people who think it is a decent broker. Do they understand anything about trading and the regulation of the broker? Here is an uncomfortable terminal that is impossible to work on - constant freezes and slippages. How can you trade successfully when you do not have time to react to changes? The spread can suddenly widen so that you can fit the budget of a medium-sized city into it :( Cmcm is more like a scam...
The unstable terminal with constant slippages adds a special edge to my trading and tickles my nerves. And the main disadvantage of this broker is the delay in withdrawals.
I do not recommend cmcm to anyone, it will be very difficult for you to work here. First of all, they have an unstable terminal, serious slippages and freezes happen regularly. Orders are often opened with a delay, very long, and this is unpleasant for any trader. Secondly, cmcm has a serious problem with withdrawal of funds, this process can drag on for weeks, and their security service can cancel a withdrawal request or cancel a part of profitable trades at any time. Finally, the tech support here is incompetent. For these reasons I lost almost £16,730 here in a very short time, within 3 weeks.
This company has a lot of problems. And the most important problem is the Cmcm trading platform. You can trade here through your mobile device. But the program that the trader uses to open trades is very flawed. Also, in case of strong market movement, trading is blocked at all and it is simply impossible to open or close an order. For example, I was unable to close an order and lost $3.5k when the US labor market news came out. However, Cmcm does not consider this problem serious as they do not respond to my repeated complaints and do nothing to fix the situation.