CMBC Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
Software Index
CMBC Broker had a good start, sorting out withdrawal issues swiftly with a flawless 100% success rate. However, things took a turn with credit score problems and additional withdrawal glitches emerging. Despite assurances of a quick fix and a new withdrawal certificate in 15 minutes, the resolution process dragged on.
In this comprehensive review of CMBC, we delve into the broker's performance, user experiences, and regulatory standing, highlighting both strengths and weaknesses. Overall, CMBC receives a mixed evaluation, with users praising its trading conditions but expressing concerns about withdrawal issues and customer support. Notably, the broker operates under different regulatory entities, which may affect user experience depending on their location.
Note: It is crucial to understand that CMBC has various entities operating in different regions, which can lead to discrepancies in service quality and regulatory protections. Our assessment is based on a thorough analysis of available data and user feedback to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7.5 |
| Tools and Resources | 6.0 |
| Customer Service and Support | 5.5 |
| Trading Experience | 6.5 |
| Trustworthiness | 7.0 |
| User Experience | 6.0 |
We score brokers based on a combination of user feedback, expert analysis, and regulatory standing.
Established in 2010, CMBC is a Hong Kong-based forex and CFD broker regulated by the Securities and Futures Commission (SFC) of Hong Kong. The broker offers a range of trading services, including access to forex, commodities, and indices. However, it notably does not support popular trading platforms like MetaTrader 4 or 5, which may deter some traders. Instead, CMBC provides its proprietary trading platform, which has received mixed reviews regarding usability and functionality.
CMBC is primarily regulated in Hong Kong, with its operations overseen by the SFC. However, the broker has been noted to exceed its regulatory scope, which raises concerns about its compliance with forex trading standards. Users are advised to consider the regulatory protections available in their respective regions when trading with CMBC.
CMBC supports various deposit and withdrawal methods, including bank transfers and credit cards. However, users have reported challenges with withdrawals, particularly citing delays and issues with credit scores impacting their ability to access funds. According to WikiBit, withdrawal problems emerged despite initial success in processing requests.
The minimum deposit requirement at CMBC is reportedly around $250, which is relatively standard in the industry. This makes it accessible for new traders looking to enter the forex market without a substantial initial investment.
CMBC has been noted to offer various bonuses and promotions; however, specifics on these promotions are often vague, and users should read the terms carefully to understand any associated conditions.
CMBC allows trading in a variety of asset classes, including forex pairs, commodities, and indices. While the range of available instruments is adequate, the absence of cryptocurrency trading may be a drawback for some traders looking to diversify their portfolios.
CMBC's spreads are reported to be competitive, but the lack of transparency regarding additional fees and commissions has raised concerns. According to PediaFX, the broker's average spread on major pairs can be around 3 pips, which is on the higher end compared to some competitors.
CMBC offers leverage up to 1:200, which is typical for the industry. However, traders should be cautious with high leverage as it can significantly increase risk.
As mentioned earlier, CMBC does not support MetaTrader 4 or 5, which may limit the trading experience for users accustomed to these platforms. Instead, it offers a proprietary platform that some users have found less intuitive.
While CMBC primarily serves clients in Hong Kong and China, it also has a presence in other regions. However, traders should verify their eligibility based on local regulations before opening an account.
CMBC provides customer support in English and Traditional Chinese, which may limit accessibility for non-Chinese speaking clients. Users have reported mixed experiences with customer service, often citing long wait times and insufficient responses to queries.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7.5 |
| Tools and Resources | 6.0 |
| Customer Service and Support | 5.5 |
| Trading Experience | 6.5 |
| Trustworthiness | 7.0 |
| User Experience | 6.0 |
Account Conditions: CMBC offers a reasonable minimum deposit requirement, making it accessible for new traders. However, the lack of transparency regarding other account features can be a drawback.
Tools and Resources: The proprietary platform lacks the advanced tools found in more established platforms like MT4 or MT5, which may hinder some traders' experiences.
Customer Service and Support: Users have expressed dissatisfaction with customer service, particularly regarding withdrawal issues. Reports of long wait times and unhelpful responses have been prevalent.
Trading Experience: The trading experience is generally satisfactory, but the proprietary platform's limitations may deter experienced traders.
Trustworthiness: While CMBC is regulated by the SFC, concerns about its operational practices and withdrawal issues may affect its overall trustworthiness.
User Experience: User feedback indicates that while the trading conditions may be appealing, the overall experience is marred by customer service challenges and withdrawal difficulties.
In conclusion, while CMBC has potential as a forex broker, prospective traders should weigh the advantages against the reported challenges, particularly regarding customer service and withdrawal processes. As always, thorough research and consideration of personal trading needs are essential before engaging with any broker, including CMBC.
FX Broker Capital Trading Markets Review
