Colmex Pro is a trade name of Colmex Pro Ltd., a CySEC regulated company offering Forex, CFD, Stocks, Futures, Options and NDD (No Dealing Desk) trading.
About company. Fund security
Colmex Pro Ltd., acting as Colmex Pro, is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). Moreover, the company is also registered with the FCA and a number of other EU regulators.
CySEC applies certain rules to license holders, one of which is the requirement to withhold a minimum of EUR 1,000,000 in order to prove their financial stability.
In addition, the Cypriot regulator applies the compensation system as an additional guarantee for clients' funds. All CySEC regulating companies are members of the Investor Compensation Fund, where clients can receive compensation of up to € 20,000 in the event the broker ceases to operate and becomes insolvent. Similar compensation schemes apply in other jurisdictions: for example, FCA-managed brokers in the UK are members of the Financial Services Compensation Scheme, where the maximum payout is £ 50,000 per person.
This broker has two accounts: the first one trades stocks and CFDs, the second one trades currency. Both account types offer different trading conditions, which depend on the amount deposited and the platform used. For example, if a stock / CFD account holder chooses to trade on a professional platform from experts, then he will need to deposit at least $ 50,000.
Minimum initial deposit
Colmex Pro accounts require a minimum deposit of $ 500, which is above the industry average. For comparison, some brokers offer trading from $ 1. You can find them in our rating.
Average spreads and commissions
This broker offers variable spreads. At first glance, spreads are relatively low - 0.9 pips on EUR / USD. However, there is a commission of $ 3 to $ 15 per lot per one side of the stock / CFD account. On a Forex account, the commission is $ 8 per lot, which means an average value of 1.7 pips in EUR / USD with the included commission, but still this is considered in trading as a value that does not exceed the average position.
According to the contract specifications on the Colmex Pro website, if a maximum spread of 2 pips on EUR / USD is applied, commissions are excluded.
The maximum leverage with this broker is offered on the MT4 platform and is 1: 400 for a Forex account. Some jurisdictions have leverage limits that are significantly lower, such as the United States, the maximum allowable leverage is 1:50. The reason for these limitations is that higher levels of leverage can not only multiply traders' profits on a small deposit, but can also lead to large losses. Nevertheless, if you are confident in your trading, you can also use large leverage with other brokers, for example 1: 1000.
Colmex Pro offers several platforms.
Colmex Pro Trader platform provides real-time data, streaming data, fast order fulfillment, and moreover, users can see a daily list of the top 20 traders. Plus, this platform allows you to manage multiple accounts and is available in 11 different languages. The broker also offers Colmex Pro Trader CFD, a version of the platform designed for CFD trading.
The Colmex Expert platform is an improved version of Colmex Pro Trader and offers great opportunities for professional traders.
This platform is equipped with a chart that includes over 100 built-in indicators, studies and tools, a testing system. The terminal also has a Managed Account Trading (MAT) tool for traders managing multiple accounts and is available on the mobile version.
In addition, Colmex Pro provides MetaTrader 4. The software offers a range of technical indicators, an extensive testing environment, an extended set of charts and, more importantly, advisors (experts). By downloading ready-made or creating their own Expert Advisors, traders can fully automate their trades and let the program do all the work.
Ways of payment
Colmex Pro offers its customers the following payment methods: bank transfer, credit / debit cards (Visa, MasterCard), e-wallets (WebMoney, cashU, MoneyBookers).
regulated broker; selection of trading platforms.
high commission; high minimum deposit.
COLMEXPRO is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker COLMEXPRO makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for 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 virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage 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 is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. 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 brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over 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. Brokers 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 broker. COLMEXPRO received a score of 1 of 5 on our resource.