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CLM (Core Liquidity Markets) is an Australian broker operated by Core Liquidity Markets Pty Ltd., regulated by the Australian Securities and Investments Commission (ASIC).
CLM Forex offers trading in currencies, indices, CFDs, binary options and commodities.
Company. Fund security
ASICs require licensed companies to meet specific requirements and follow various rules. Customers' money should be kept in segregated accounts. According to the information on the website, client funds in different currencies are held by the Commonwealth Bank of Australia (CBA).
As for the minimum capital requirement, Forex brokers must have at least $ 1 million. By comparison, the UK FCA requires Forex brokers to hold at least € 730,000.
However, unlike other European brokers (in Cyprus and the UK), Australian companies are not required to participate in client compensation programs.
Trading conditions
Core Liquidity Markets offers its clients three types of live accounts to choose from: standard no commission, and Core Plus and Core Pro accounts with lower spreads but with commission.
Micro lots are available for trading on a standard account. The broker also provides free demo accounts.
Another broker's offer is binary options. Assets available: 29 currency pairs. CLM offers contract expiration times from 60 seconds to 2 hours and attractive payouts - up to 85% with zero commissions.
Deposit
Traders are required to deposit a minimum of $ 200 to open an account with the company. This is not the highest offer among all brokers, but there are dealing centers offering trading from $ 1.
Spreads and commissions
CLM offers variable spreads, on an interest free account it is 1.3 pips in EUR / USD, which is the standard for the Forex market. The Pro account provides lower spreads, up to 0.3 pips on average on EUR / USD, but also includes a commission of $ 3.5 per standard lot. Accordingly, the trading costs of these account holders are around 1.0 pip including commissions, which is a relatively small amount.
Leverage
Clients can take advantage of leverage up to 1: 400, which is considered the industry average. In some jurisdictions, the leverage limit is significantly lower, such as 1:50 in the United States.
Most brokers usually offer up to 1: 200 or 1: 400 leverage. However, many brokers provide leverage ratios equal to or greater than 1: 500.
Trading platforms
This broker offers its clients various trading platforms: MetaTrader 4, WebTrader, Mobile Trader and MetaFx (MAM / PAMM).
Web Trader is a web platform that supports all modern browsers and syncs with your MT4 account in real time. Fully customizable charting package with technical indicators, money management tools.
Like most brokers, CLM supports the most widely used MetaTrader 4 (MT4) platform. Note that traders can also trade binary options with it, for this you need to install a special plugin.
MT4 provides all the tools and resources a trader needs: a range of technical indicators, an expanded set of charts, a wide range of experts (advisors) and an extensive testing environment. Using EAs, traders can entrust all their work to advisors that allow them to fully automate trading.
Moreover, CLM provides MAM / PAMM accounts. Multi-Account Trader is built into MT4 terminal. Traders can independently configure various parameters.
Ways of payment
CLM offers its clients a variety of deposit / withdrawal methods: credit / debit card (Visa, MasterCard), bank transfer, Neteller, Skrill, WebMoney and China UnionPay.
Clients can use the following currencies to work on their accounts: AUD, USD, GBP and EUR.
Pros:
regulated broker; MT4 is available; trading binary options, indices, commodities and CFDs from one account. several trading accounts to choose from.
Minuses:
does not offer Islamic accounts; the site is not Russified.
CLMFOREX is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
CLMFOREX profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. CLMFOREX received a score of 1 of 5 on our resource.