WikiFX Broker Assessment Series | CXM Trading: Is It Trustworthy?

In this article, we will conduct a comprehensive examination of CXM Trading, delving into its key features, fees, safety measures, deposit and withdrawal options, trading platform, and customer service. WikiFX endeavours to provide you with the essential information required to make an informed decision about utilizing this platform.

Background:

Founded in 2015, CXM Trading operates as an online brokerage specializing in the trading of exchanged CFDs, particularly focusing on B2B and institutional market segments.

CXM Trading provides a diverse range of tradable assets, covering currency pairs, metals, energy, cryptocurrencies, global indices, and EU/US stocks.

Additionally, CXM Trading offers a social trading solution, facilitating money managers, top traders, and signal followers to enhance efficiency, profitability, and generate passive income via copy-trading.

Meanwhile, CXM Trading features an introducing broker (IB) program, enabling individuals and businesses to earn multi-tiered commissions by referring new clients to the company.

It is important to note that, at present, CXM Trading does not extend its services to St. Vincent and The Grenadines, Afganistan, Algeria, Belarus, Canada, Cuba, Iran, Libia, Myanmar (Burma), North Korea, Russia, Somalia, Sudan, Syria, Ukraine, UK, USA, Yemen.

Types of Accounts:

CXM Trading offers several account options: the Cent Account, the Standard Account, the ECN Account, the ZERO Account, and the FIX API Account. Please refer to the attached images below for more detailed information on each corresponding account.

Deposits and Withdrawals:

CXM Trading offers a range of payment options, including bank transfers, UnionPay, Bitcoin, and USDT (Tether).

CXM Trading does not accept funds from third parties. It is also important to note that if CXM Trading becomes aware that a user is deliberately abusing its payment methods, it may result in account closure. Any applicable transfer and refund fees incurred will be the responsibility of the offending party.

The timeframe for funds to reflect in the account depends on the selected withdrawal method. Details for each deposit and withdrawal option can be found in the image below:

Trading Platforms:

CXM Trading provides the MetaTrader 4 (MT4) trading platform, available on PC, mobile, and web, is widely used in the industry. MetaTrader 4 is an advanced trading platform offering a comprehensive suite of features and tools for precise trading analysis. With one-click trading, quick order execution, VPS hosting, and up to four pending order types along with trailing stops, it provides a highly customizable interface with thousands of online tools to plug in. The platform supports fully customizable and in-depth charts, in-depth trading history, and allows users to build or import Expert Advisors (EAs), enabling the automation of trading strategies.

Research and Education:

CXM Trading does not offer educational resources to support traders; however, it does provide an economic calendar that highlights important economic events, which may lead to increased volatility in the financial markets.

Customer Service:

CXM Trading provides 24/5 customer service support in English and Chinese. Clients can reach out to CXM Trading through email at support@cxmtrading.com or by submitting an inquiry via the broker's question form.

Conclusion:

To summarize, here's WikiFX's final verdict:

WikiFX, a global forex broker regulatory platform, has assigned CXM Trading a WikiScore of 6.61 out of 10.

Upon examining CXM Trading‘s licenses, WikiFX found that the broker is regulated by the United Kingdom’s Financial Conduct Authority and the Mauritius Financial Services Commission. WikiFX has also validated the legitimacy of the said licenses.

Initially, CXM Trading is considered a relatively reliable broker within the industry; however, WikiFX reduced its WikiScore due to several complaints received from users worldwide, casting doubt on its trustworthiness:

Therefore, WikiFX would urge our users to opt for a broker that has a higher WikiScore for better protection.