Colmex has been providing financial services since 2009. A huge number of licenses from different regulators increases the indicator of trust – over ten years of cooperation with traders, this company has received many positive reviews .
Before opening an account with the company, you need to carefully read the trading conditions.
Basic information about the Colmex service
The brand was registered in Cyprus in 2009, and since then has been actively supplying its services to clients from many countries. The site contains registration numbers and licenses. In particular, it is regulated by the CySEC, FSB, BaFIN and others, and also complies with the MiFiD directives. Thanks to this, the clients of the platform can be citizens of the countries of the European Union, the CIS and other territories with strict regulation rules.
In Spain, the activities of the Colmex broker are controlled by the CNMV. Client funds are held in segregated accounts and insurance is provided through a license that operates under the ACPR system.
The negative aspects include the lack of information about the owners of the company, work history and other global details. To communicate with the support service, the site has a widget with an online chat, a callback form, email and head office addresses, as well as mobile phone numbers. Representatives solve customer problems from Monday to Friday from 07:00 to 20:00.
What does the brokerage company offer?
Like any other broker that works in the field of CFD contracts, the broker adheres to the KYC / AML policy, and therefore obliges all investors to go through the verification procedure. As noted in the reviews published on Colmex, document verification takes a long time.
The site functions only in English. A beginner trader can practice on a free demo account. It is noteworthy that the service allows you to invest not only in more than 9,000 shares of American companies, but also in IPOs. Also, the company’s official website provides access to options, currency pairs and precious metals as trading instruments. All transactions are carried out through the NDD system, which excludes the work of a dealing center.
After registration, the user can choose one of four types of accounts:
- Account for trading only stocks / CFDs;
- Account for Forex trading – here Colmex gives you a choice of three accounts, each with different trading conditions;
- Stock Trading Demo Account / CFDs ;
- Demo account for Forex trading.
The MT4 platform, both desktop and portable, is used as trading terminals. The broker also offers to use its own development Colmex Pro Trader, which contains up-to-date analytics and access to market quotes. Additionally, the client can use the MultiTrader terminal, which also functions on any device.
The broker publishes fairly transparent trading conditions. The minimum account size is $ 250, spreads start at 1 pip, and the maximum leverage rises to 1: 200. Trading is available 24/7. With Colmex, withdrawals are made to bank cards and e-wallets, you can request a withdrawal through a money transfer.
Negative sides of Colmex broker
Novice traders will have to get used to the platform’s functionality for a long time, moreover, the service itself is designed for experienced users, therefore it does not publish training material. An omission can be called the lack of information about the commissions, which, as a result, the broker charges large. Of the critical moments, customers in their comments about Colmex note slippages and delays in order processing.
Some traders had difficulty with withdrawing funds.
All brokers have advantages and disadvantages and this company is no exception. The choice of an intermediary, to whom the investor trusts his money, must be approached extremely responsibly.
