CIMD Forex Broker

CIMD is a new online broker registered in United Arab Emirates, offering over 250 trading products to trade through their five types of accounts. It offers 24/7 customer service to contact. But there is a main problem that their license of DFSA is regarded as fake clone.Pros and Cons Pros Cons Over 250 class assetsSuspected fake clone license of DFSA 24/7 customer serviceHigh minimum deposit except the Test account Low spreads from 0.0 pipsNo information related to deposit and withdrawal No social media presenceIs CIMD Legit? CIMD claims that it is regulated by the Dubai Funancial Service Authority (DFSA) with license type of Retail Forex License and license number of F001383. But now it is suspected as fake clone one. Regulatory Status Suspected Fake Clone Regulated by United Arab Emirates Licensed Institution CIMD (Dubai) Limited Licensed TypeRetail Forex License Licensed NumberF001383What Can I Trade on CIMD? CIMD offers currency, precious metals, stocks, commodities, stock indices and cryptos. Tradable Instruments Supported Forex✔ Commodities✔ Indices✔ Cryptocurrencies✔ Stocks✔ Precious Metals✔ Bonds❌ Mutual Funds❌Account Type & Leverage CIMD offers Test, Beginner, Standard, VIP, and Corporate accounts with the minimum deposits of €100, €2,000, €50,000, and €150,000 respectively. The Corporate account does not require the minimum deposit. Besides, each account offers flexible leverage: 1:20 for the Test account, 1:30 for the Beginner, 1:40 for the Standard account, 1:50 for the VIP account and 1:100 for the Corporate account.CIMD Fees (Spreads) CIMD offers different spreads for their accounts. The offers the spreads from 0.8 pips for the Test account, from 0.6 pips for the Beginner account, 0.5 pips for the Standard account, and 0.4 pips for the VIP accounts. For the Corporate account, it offers floating spreads. Account TypeSpread (pips) Test Account0.8 pips Beginner Account0.6 pips Standard Account0.5 pips VIP Account0.4 pips Corporate AccountFloating spreadsCustomer Service CIMD offers 24/7 customer service through phone and email. Contact Options Details Phone UK: +441668320001/ UAE: +97145865689 Email support@cimdltd.net / info@cimdltd.net Support Ticket System ❌ Online Chat ❌ Social Media ❌ Supported Language English, Arabic Website Language English, Russian Physical Address Unit OT 19-32, Level 19, Central Park Offices, DIFC, PO Box 506776, Dubai, UAEThe Bottom Line CIMD assists its clients in trading on financial markets using leverage via CFDs. It offers five types of accounts with lower spreads and flexible leverage ratios. However, CIMD is now not regulated well and their minimum deposits are rather high, which are not suitable for beginners.FAQs Is CIMD safe? No. Its license of DFSA has been suspected as fake clone. What security measures does CIMD have in place to protect my funds and personal information? It claims to provide the protection of customer funds by placing deposits on segregated accounts. How much time will it take to confirm and process my withdrawal request? Typically 1-3 business days.