The CMTPro website claims to make trading in cryptocurrencies and foreign exchange simple for us. However, fact-checking proves without a shadow of a doubt that this website’s goal is to con us out of our money. Let’s examine the indications in further depth to see if CMTPro is the reputable financial services supplier it claims to be.
Is CMTPro a Licensed Broker?
Other than the customary assurances of dependability and the potential for a wonderful trading experience, CMTPro has not supplied any corporate information or contact information. Do not rely on finding an address or phone number on the internet since you would only be able to reach this broker by email. This broker is undoubtedly unlicensed, thus you have no reason to believe that they are reliable. All legal brokers would make sure to provide you with all the necessary license numbers so you could check registries if you wanted and confirm their legitimacy on your own.
Why Should Not You Trust an Unlicensed Broker?
Always be sure the broker you choose really has the required licenses. Working with a business that is really accredited and overseen by a regulatory body has several advantages. These brokers provide safeguards to their clients, including negative balance protection and segregation of customer and broker money.
Warnings From Financial Regulators
The Belgian financial watchdog FSMA has issued the following warning in response to CMTPRO’s actions: Why would you want to trade with a broker that the FSMA considers to be “a fraudulent online trading platform” and “not allowed to provide financial services and products in Belgium“?
Leverage and conditions
CMTPRO claims 1:500 leverage. Regulated brokers don’t reach this. High leverage raises profitability but also the danger of unexpected and large losses. All major authorities restrict retail trader leverage. The EU, UK, and Australia allow 1:30; the US allows 1:50. Major currency pairings have this maximum leverage, whereas more volatile assets have even less.
Minimum Deposit and Withdrawal Terms of CMTPro
250 USD/URD/GBP is the required minimum deposit. Most regulated brokers offer beginner accounts for the same or less.
CMTPRO’s deposit and withdrawal conditions are unclear. CMTPRO, like other fraudsters, will surprise you with hidden costs and exorbitant conditions.
Platform Offered by CMTPro
The web-based trading platform used by CMTPRO lacks sophisticated capabilities. Although this platform may place orders, it falls short of the features offered by MetaTrader 4 (MT4) and MetaTrader 5. (MT5). The fact that these platforms have become the norm in the business is no accident.
Victim of CMTPro Scam? Report Your Story To Us.
If you get scammed by CMTPro, just submit a report to us. We will provide with you a free consultation on how to get your money back.
Ways to Make a Deposit
The deposit feature on CMTPRO requests your credit card information but does not permit deposits. Instead, a notice appears stating that you must get in touch with the website’s creators directly in order to get instructions on how to complete a transaction.
Country Serving by CMTPro
CMTPro is serving in Portugal, Spain, the UK, Belgium, and Germany.
What Do Traders Think of CMTPro?
After analyzing different social media and online forums, we have observed that there are no happy comments on CMTPro.
We hope, you already understand that CMTPro is a fake broker and there is no safe point in investing with this broker.
Is CMTPro trusted?
No, CMTPro cannot be trusted. CMTPro is not regulated, already received 3 warnings from 3 different countries. Why should you think that this broker can be trusted?
What is the problem with an unregulated broker?
Anyone who transacts with unregulated brokers, such as the one we are examining right now, is taking a significant financial risk. These businesses provide internet trading services devoid of any kind of licensing and without government oversight.
Is it possible to recover my scammed money?
In general, it seems impossible to recover the scammed money. But, there is a secret. If you can get help from an expert who can track a scammer, expert in technology, and also can provide legal help, that person or organization can help you to recover the scammer’s money.
Can MT4 trades be faked?
No, MT4 trades cannot be faked. An organization can borrow another organization’s platform, but cannot make fake trades.
How do I know if a forex broker is real?
If the broker has real regulations, happy customer feedback, client testimonials, and visible and legit contact information, that broker can be real. Also, check with the financial regulator’s websites.