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CMTPRO Review – Who Is Behind This Scam Broker?
Table of Content
CMTPRO Review, For a company that advertises itself as the leading and award-winning broker, they have a very poorly designed website. CMTPRO trading broker states that they are operating under FSC regulation. This is all nonsense since they don’t provide any license number.
The company doesn’t reveal where they operate, they don’t provide on their website contact or ownership information. We need to avoid these brokers at all costs. Our CMTPRO review will show you why.
|Review Rating||3.1 on Trustpilot|
|Broker Type||Non-regulated scam broker|
|Spread||From 0 pips|
CMTPRO Regulation and Funds Safety
Any company that is offering its FX and CFD trading services should have a license. Preferably from Tier 1 regulators like FCA, BaFin or ASIC. That is something that brings security and confidence to customers. However, this broker doesn’t provide any licensing, not to mention strict ones.
On top of that, all CMTPRO broker reviews are confirming this statement that they are a non-licensed bogus scam. As a result of fraudulent activities, already after a couple of months into their existence, they earned 3 warnings. Financial regulators from Belgium, Norway, and Spain already did their investigation and helped clients all over the world not to be scammed.
So, before making any rushed steps read this honest CMTPRO review until the end.
Trading Platform Overview
Another clue for this investment scam is its trading platform. Even though they are advertising MetaTrader on their website, it’s not relevant because you get their Web trader. Web trader in combination with non-regulated brokers always ends up as a scam. But to mention, their software is a solid platform with some advanced trading tools and charting options.
However, that software is often optimized for quick modifications of the markets. So, what clients think is happening is not real. They believe that they are making money, but on the other side, the broker is dictating conditions. After that, they pitch you for more money because they made you something. Be careful of those broker scams.
Any CMTPRO review will show you exactly what we mentioned. We recommend you look for a licensed broker that offers a reliable platform like MT5 with all advanced features, copy, and social trading that will make trading easier.
What Account Types Does CMTPRO Provide?
The broker only offers 2 account types: Individual and Professional. They differ in the assistance that you get from the broker. The lack of information about account types raises our suspicion. They don’t provide any information about trading conditions, withdrawals, education or anything else. Moreover, minimum requirements are not disclosed which is a huge downside.
The basic initial investment is 250 USD, but we don’t have confirmation is that for both account types.
Trading Instrument Available
Someone might get tricked by good instrument availability. But we need to remind you that this is a non-regulated broker and everything is speculative. Anyway, available assets are:
- Forex – USD/AUD, CAD/JPY, EUR/NOK
- Commodities – oil, gold, natural gas
- Indices – AU200, CAC40, FTSE100
- Shares – Microsoft, Google, BMW
- Cryptocurrencies – BTC, ETH, ADA
According to some CMTPRO reviews, they provide leverage of up to 1:500. However, on trading platforms customers could get 1:100 which is still a lot higher than the regulation allowed 1:30 or 1:50.
When it comes to spreads they are a lot higher than the industry standard. For some forex pairs, it’s from 2.2 pips. Since you have licensed brokers that are offering way more controlled and favorable conditions, we would never recommend you this one. Look for a licensed broker on time.
Deposit and Withdrawal Process
Often with scam brokers like CMTPRO deposits are not an issue. They accept various options from cards, wire transfers, and e-transfers. Many of these are allowed through third-party services and all data is unsecured.
What brings unclarity are withdrawals. CMTPRO broker doesn’t provide a strict and transparent withdrawal policy. They don’t disclose processing time, withdrawing fees or anything else. That’s exactly what customers are complaining about on CMTPRO broker reviews.
That’s why licensed brokers are obligated to provide detailed instructions about those procedures. This is completely understandable considering that it’s a trading business and the whole point of it is making money.
A part that always goes along with scamming companies is bonuses. Another trick from the sleeves is to lure clients into depositing more money. That works on a basis that clients are not reading T&C which clearly states that you need to make a huge rollover of the investments to be able to get a withdrawal.
Even if you make it, then the broker has the freedom to make up any other reason why not to release your funds. From missing documentation, withdrawal fees and many more. Don’t fall for those if they ask you for any more money than you already deposited.
They will try any possible way to extract as much as possible from customers and after that, they will stop responding. They will vanish.
CMTPRO Scammed Me – How Can I Get My Money Back?
It’s not a shame being scammed. It could happen to anyone anywhere. However, you need to spread the word. That’s exactly how this broker earned 3 warnings in such a short time. Since they are not regulated you can’t reach to authorities for a refund. But there is a solution.
Our expert team can assist you with fund recovery. Don’t waste more time because you can only do that in a certain period. Contact us today to find out your first steps!
FAQs About CMTPRO Broker
Is CMTPRO A Legitimate Broker?
Absolutely no. They don’t provide any security in terms of licensing or any ownership information. On top of that, they earned warnings from FSMA, CNMV and Finanstilsynet.
What Is the Minimum Deposit at CMTPRO?
The minimum requirement is only 250$, but considering that this is not a safe broker even that is too much for the initial deposit. Especially, when you have licensed brokers allowing micro accounts with a 10$ deposit.
What Methods Can I Use to Deposit Funds at CMTPRO?
The broker offers deposit methods cards, bank transfers and e-transfers. Since they are not regulated by any financial authority all money deposited here is not safe.