Capital Markets Banc CMB Review (2023)

Is Capital Markets Banc CMB a scam or a legit broker?

It is not safe to trade with Capital Markets Banc CMB, because it is an unregulated broker. In addition, the company has been suspected to be a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

Capital Markets Banc CMB claims to be a leading provider of online trading services with an access to a world-class trading experience in its presence in over 160 countries worldwide. CMB is located in Dominica (Check out another Dominica located broker TradersWay Reviews), known offshore heaven and operates without any license, as well allows opening clients from all over the world of an account to trade over 175 products ranging from currencies, commodities and metals, to options, using a desktop, tablet or smartphone devices. CMB provides its traders with personalized FX training programs, Dealing Room Specialists, rewarding Introducing Broker Programs and innovative and competitive Partner Offerings.

Overall, the offering sound to be competitive and attractive, however, it is not the case due to the fact that the company does not hold any registration with appropriate authorities, therefore didn’t make an effort to protect their clients.

The company is targeting clients from almost every region, which is confirmed by their range of supported languages and client services.

As the Broker located in an offshore area, it is extremely risky to put funds with an unregulated broker since there is no ensured safe trading environment and capital requirements.

Since it is not the fact of the CMB, the traders are not assured about the participation in the operating standards that are set as reliable ones by the leading authorities.

Rather than putting capital at risk with the companies who do not guarantee their compliance, it is better to choose among the brokers who establish operations according to the necessary laws with respected authorities alike FCA, CySEC or ASIC.

Moreover, several regulators have already issued warnings against the company in order to rest assured the potential investors from the fraud from the unauthorized brokers that target population of the residence.

“This firm is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization.” FCA, UK

Conclusion

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BlackBull Markets and BDSwiss.

Yet, it is always great to hear your personal opinion about CMB. So you may share your experience or thoughts or discuss them below or ask us for additional information.