Capital Markets Group Reviews Is cmgone.com a Scam Broker?

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Uncertain about cmgone.com platform? Is this broker a reliable broker to trust? Let’s read Capital Markets Group reviews to know about this forex broker and why it is not reliable.

This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About Capital Markets Group

Capital Markets Group FX otherwise known as cmgone.com is an offshore brokerage claiming to offer crypto investment services to their clients.  The broker claims a brand name of AxiTrader Limited.

Capital Markets Group also claims to be applicable to the laws and full incorporation of Saint Vincent and the Grenadines.

What’s more, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. It also presents a zero spread difference in Buy/Sell.

Does Capital Markets Group Have Account Types?

Capital Markets Group does not specified its trading account. According to the website descriptions, the broker offers a spread of  1.5 pip and a leverage max 1:400.

There was no minimum deposit revealed anywhere. In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.

As for the funding methods, Capital Markets Group  deposit are bank transfer, credit cards, debit cards, Skrill, C-Link Solution, CoinZoom, Finrax, China UnionPay, and B2B Transfer. 

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

Is cmgone.com a Scam Broker?

First of, cmgone.com claims its website is incorporated in St. Vincent and the Grenadines. 

But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.

Capital Markets Group has stolen some of the legal details from Axi, as well as certain website design choices and trading and payment information, making it a clone firm of an otherwise regulated broker. 

As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.

These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Capital Markets Group Withdrawal process And Trading Software

Capital Markets Group withdrawal is processed within 1-2 days, aside from bank based withdrawals where the process can take between 2-5 days.

The broker claims to offer industry trading software MT4. Unfortunately, we were not able to open an account despite there was a demo account.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Argument Against Trading With An Unlicensed and Unregulated Broker ( cmgone.com)

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that cmgone.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Concluding Thoughts:

Capital Markets Group FX located at cmgone.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed forex broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

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1 thought on “Capital Markets Group Reviews Is cmgone.com a Scam Broker?”

  1. Coinfx market is a big scam broker, I paid a huge amount of $50,000, They persuaded me, into putting more of my hard earned money with all hope to get profits in return, they won’t allow me to withdrawal my investment. All because all they wanted is to steal my money. I got advised to go ahead to file a refund case against them, which to my greatest surprise I was able to withdraw my money, I contacted ([email protected]) and his team of recovery experts, they were able to assist me to withdraw of my money, and restore my funds, they are responsive, you can reach out to him for help also,I guess am not the only one who has fallen victim, people might need this information.

    Reply

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