Broker you can rely on” — this is how the company CMCM describes itself, which provides access to trading financial assets. However, is it worth trusting your money to a firm without licenses, without reviews on the internet, and without a reputation as an honest and verified intermediary? After all, it could turn out to be a common scam. Even though it boasts offices in various countries and presents itself as the best partner for traders?
Experienced users can immediately determine if they are dealing with a scam just by looking at the official website. Many fraudsters are so lazy that they use the same template for creating their websites, rarely change the text, and use the same platform. CMCM is no exception, as they used a pre-made template to create their official website.
There is no hint of quality or seriousness here. The site supports only the English language; the scammers did not bother to translate it into other languages. At the top, there is a panel that allows you to learn a little about the company. The catch is in the word “little,” because not all data is disclosed to visitors. In the “Who we are” section, one would expect to see a detailed description of the firm: duration of operation, business model, names of founders and leaders, and the history of the brand’s development. However, there are only five short sentences, completely devoid of any useful content.
The main page of the website lists the advantages and benefits of the platform, most of which are described only superficially. It is evident that CMCM constantly tries to motivate or force the user to open a brokerage account. The site exudes cheapness and sloppy work. Nothing good can be said about it in the end.
The company’s offices are supposedly located in the United Kingdom, Germany, and Australia. However, this is fake information, with details to follow later. To communicate with support staff and the call center, the firm provides an email and two phone numbers, one Australian and one English. There is no point in writing to the email because it is fake.
The phone numbers are likely fake as well. The English number +442080731848 is listed not only on cmc-m.net but also on the website of another broker called Beat Group Market — beatgroupmarket.net. Moreover, these companies share the same address in the United Kingdom. Is this a coincidence, or are the founders of the organizations the same people?
CMCM demands a significant amount of money just to start trading. The minimum deposit here is $5,000 — this amount is required to activate the first plan, and there are a total of five options. The better the plan, the more money you need to deposit. It is called extortion.
All clients get access to the following services:
The better the plan, the more additional services you receive, as well as better conditions:
CMCM offers a guaranteed income, but it is worth reminding that in trading and investing, there can be no guarantees. If you are offered a guaranteed income, this is a reason to be wary. Usually, such offers come from scammers. Moreover, the company does not even disclose where such profits come from.
Aside from the obvious downside of the huge initial deposit, the firm does not disclose important conditions, such as commissions and spreads. At the same time, the leverage is 1:400, which involves enormous risks and is a clear violation of regulatory requirements.
If the company’s headquarters are in the United Kingdom, then it should be registered in the legal registry and possess licenses from the English regulator, correct? Indeed. However, a check revealed that there is no such organization in either the legal registry (Companies House) or the financial commission (FCA). A search in the legal registry found many firms with similar names, but none of them are related to cmc-m.net.
How is it possible for a broker to boast an office in a country but not be registered there? This is definitely a fake address. The same applies to branches in Australia and Germany, where such an organization has never existed. CMCM operates illegally because it lacks licenses from state regulatory authorities, which means client funds are at great risk and unprotected. In the case of fraud, which is 100% likely, there will be no recourse for help.
Another negative factor is the lie about the business model. If you carefully read the main page of the website, you will see ECN/NDD mentioned. This is a lie, as a broker without official registration and licenses cannot have access to ECN. It is safe to say that the business model here is DD (dealing desk), which means the platform participates in processing its clients’ orders and has a direct interest in their losses.
What is CMCM’s duration of operation? Such important information should be provided by the company, but unfortunately, it is not. However, there is a good service, Whois, which allows you to find out when the domain of the official website was registered, indicating the actual date of the organization’s founding.
There are no reviews of CMCM on the internet. Perhaps a few comments are written somewhere, but they are difficult to find. This indicates that the platform is not popular, no one trades here, and there are no clients.
CMCM is a typical scam broker that boasts fake headquarters in three countries and non-existent contact details. The same phone number was found with another company, indicating that there are several such fraudulent platforms. There is no license, the operation period is very short, and the online reviews can be counted on the fingers of one hand.
Helen always knew that her passion for journalism was more than just a hobby. It was a potential career. She began her professional journey at a local newspaper in the small town where she was born. Writing on a variety of topics, from local news to financial reviews, her persistence and investigative talent soon caught the attention of editors at larger publications. We are thrilled that Helen accepted our offer and now writes for fincapital-reviews. Her exposés always create a buzz. Sometimes, we think Helen could easily open her own detective agency.
Interesting. I came to the same conclusions. I checked online maps and didn’t find their office there. That’s when I suspected something might be off.
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