CL Trading Global Ltd is a broker platform suspected of fraud. Its official website, www.cltradinggloballtd.com, was registered on June 5, 2024. The site claims to offer investors a variety of financial derivatives trading services, including forex, stocks, indices, commodities, bitcoin, metals, and energy.
Company Background and Regulatory Status
According to publicly available information on www.cltradinggloballtd.com, CL Trading Global Ltd is headquartered in the United States, regulated by the Financial Crimes Enforcement Network (FinCEN), and holds financial service qualifications. It caters to clients in over 150 countries, with a network of offices across the Americas, Europe, Africa, and Asia.
Upon verification, the Companies House website in the UK lists a registered entity named CL TRADING GLOBAL LTD, registered on June 20, 2024, with the company registration number 15791080. However, this company has not obtained authorization or regulation from the UK's Financial Conduct Authority (FCA).
Additionally, the Financial Crimes Enforcement Network (FinCEN), the Financial Industry Regulatory Authority (FINRA) in the US, and the Australian Securities and Investments Commission (ASIC) have no records of a registered entity named CL Trading Global Ltd.
Therefore, CL Trading Global Ltd is actually an illegal website with no corporate entity or regulatory oversight.
Trading Products
CL Trading Global Ltd claims to offer a variety of financial product trading options, including forex, precious metals, cryptocurrencies, crude oil, and various commodities.
- Forex: Refers to the market for exchanging currencies between different countries. Investors profit by buying and selling currency pairs (e.g., EUR/USD). The forex market is the largest financial market globally with high liquidity and volatility.
- Precious Metals: Includes gold, silver, platinum, etc. Precious metals are commonly used as safe-haven assets, especially during global economic uncertainties. Investors buy and sell precious metals to hedge against risks.
- Cryptocurrencies: Such as Bitcoin, Ethereum, and other digital assets that utilize blockchain technology for transactions. The cryptocurrency market is highly volatile, with both significant investment risks and potential returns.
- Crude Oil: Crude oil is one of the most important energy commodities globally and affects the global economy. Crude oil prices are influenced by supply and demand, geopolitical events, natural disasters, and other factors, leading to substantial volatility.
- Commodities: Includes agricultural products (such as wheat, soybeans), metals (such as copper, aluminum), and energy (such as natural gas). Commodity market prices are mainly affected by global supply and demand and weather conditions.
Account Opening Process
The steps to open an account with CL Trading Global Ltd are as follows:
- Visit www.cltradinggloballtd.com and click the "logIn" button in the top right corner of the webpage to access the account application page.
- Fill in your email and set a login password in the account application form, and the account will be created successfully.
- After logging into the account, users must complete the full KYC (Know Your Customer) verification process to start trading.
Trading Account Information
CL Trading Global Ltd does not disclose any detailed information regarding trading accounts on its website, such as spreads, leverage, contract sizes, and basic trading parameters. The platform also does not list account types, trading commissions, minimum and maximum trade sizes, maximum position sizes, or stop-loss margin levels, making it difficult to assess the fairness and reasonableness of its trading conditions.
Trading Platform and Deposits/Withdrawals
CL Trading Global Ltd claims to offer a self-developed trading platform on its website, but it only supports the web version, and the mobile download links are non-functional. Furthermore, the broker does not provide detailed information on its website about supported deposit and withdrawal methods or any associated fees.
Summary
Traderknows advises investors that CL Trading Global Ltd (www.cltradinggloballtd.com) is an illegal website with no legitimate corporate entity or regulatory oversight. Investors should be cautious when choosing a trading platform and prioritize those that are regulated and transparent to ensure the safety of their funds and minimize investment risks.
