Colmex Pro Forex Broker

Note: Colmex Pro's official website: https://colmex24.com/eu/ is currently inaccessible normally. Colmex ProReview Summary Founded/ Registered Country/RegionUnited Kingdom RegulationFSCA (Exceeded), CySEC (Suspicious clone) Market InstrumentsIndices, Commodities, Bonds, Forex Demo Account/ Leverage/ Spread/ Trading Platform/ Min Deposit$2000 Customer SupportPhone: +44 20 3769 1124 Colmex Pro is an offshore broker which illegally uses the name of a regulated broker —Colmex Pro. It offers trading on Indices, Commodities, Bonds, Forex with a extremely high minimum deposit requirement of $2000.Pros and Cons ProsCons NoneNo valid regulation Unavailable website High minimum depositIs Colmex Pro Legit? Colmex Pro exceeds the business scope regulated by Financial Sector Conduct Authority FSCA (license number: 46990) in South Africa. Besides, the Cyprus Securities and Exchange Commission (CYSEC) regulation (license number: 123/10) claimed by this broker is suspected to be clone.What Can I Trade on Colmex Pro? Tradable Instruments Supported Indices✔ Commodities✔ Bonds✔ Forex✔ Cryptocurrencies❌ Stocks❌ Account Type Account TypeMinimum Deposit Basic$2,000 Semi Standard$3,000 Standard$5,000 VIP$10,000 Premium VIP$50,000 The minimum deposit with the broker is $2000 for a “Basic” account. This is a very high investment for a forex account.Colmex Pro Fees The commissions listed on the Colmex Pro website are extremely high – for the Basic account, a fee of $14.5 per contract per side is listed for the currency trading. Colmex Pro also charges monthly inactivity fees – from $30 to $55 depending on the account type. And these fees are imposed after just 30 days of inactivity. In addition, the Colmex Pro website describes a number of additional fees that do not exist with legitimate brokers. These include, for example, the “Corporate Action Fee” of $5. According to information given on the website, a client is also required to pay a dividend if he maintains a short position in a companys stock.Deposit and Withdrawal The only payment method mentioned on the website is bank transfer. Colmex Pro mentions that it does not charge fees for bank transfer deposits, and for withdrawals of less than $500. For higher amounts, the withdrawal fee is $40 or €30.