Looking to read CGMA Trade reviews, you are in the right place. Should you trade with cgma-trade.com? Read reviews to know about this forex broker whether to use or not.
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.
What is CGMA Trade?
CGMA Trade FX otherwise known as cgma-trade.com is an offshore brokerage with a lot of promises for forex traders. The broker claims to offer crypto investment services to their clients.
On the website, CGMA Trade offers different account types such as —-
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about cgma-trade.com Regulation
First of, cgma-trade.com presents a company called Cgma-trade (Seychelles) Ltd, but then states that the licence in Seychelles is in the name of Kayser Ltd.
In order to clear the suspicion, we checked the local authority Seychelles Financial Services Authority database. But, we did not find any evidence that this company is linked to the CGMA Trade website.
Furthermore, the document claims that this company is incorporated in a different offshore zone, Saint Vincent and the Grenadines (SVG). The SVG financial regulator does not licence or supervise brokers at all.
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.
CGMA Trade Minimum Deposit for Traders
The broker CGMA Trade FX has specified $250 as its minimum deposit based on its account type. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
CGMA Trade accepts different payment options such as bank transfer, credit cards, cryptocurrencies and the obscure payment processor Paymt2. When trying to use a bank transfer or credit card, the website displays an error message.
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!
CGMA Trade Provides What Trading Software?
CGMA Trade offers industry trading platform MetaTrader 5 (MT5). But, after registering an account, we don’t get access to the full desktop version of the software, but to the more limited web platform.
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.
With that said, the CGMA Trade leverage is fixed at 1:200. 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.
CGMA Trade Licensing and Regulation
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 cgma-trade.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 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
CGMA Trade located at cgma-trade.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 brokers as they 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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