CMGSFX is a forex broker whose official website domain name was registered on March 3, 2023. It mainly provides investors with trading services in financial derivatives such as forex, stocks, futures, energy, precious metals, cryptocurrency, etc., and its company headquarters is unknown. This broker does not provide services in judicial jurisdictions that may violate local laws or regulations.
Company Registration Information and Regulatory Status:
According to the public information on CMGSFX's official website, its headquarters is located in London. Its subsidiaries are regulated by the US Financial Crimes Enforcement Network (MSB) and registered with the US NFA, under their review and supervision. Additionally, the broker is also authorized and regulated by the UK Financial Conduct Authority (FCA), with license number 146311.
Upon verification, the US National Futures Association (NFA) and the Financial Crimes Enforcement Network (FinCEN) have not found a registered entity named CMGSFX. Furthermore, the official website of the FCA shows that the registered entity with license number 146311 is AMT Futures Limited, whose official website is www.amtfutures.co.uk, and has no association with CMGSFX.
Moreover, the web design and content of this broker are identical to those of brokers such as CPT Limited, Unisnfx, XCY Global Ltd, BCC markets limited, Texttforex, GYG INVESTMENT LTD, Maxtra Financial Limited, among others.
Account Opening:
To open an account with CMGSFX: Go to the broker's official website, click on "Register" either on the homepage or at the top right corner of the web page, enter personal information such as name, email address, and set a login password then submit. Once the application is submitted, the account will be successfully registered.
Trading Account Information:
The CMGSFX official website only discloses information about the spread, trading leverage, additional/stop-loss margin levels, and contract size, whereas details about account types, trading commissions, minimum/maximum trading volume, maximum positions/order quantity, and minimum price precision, etc. are not disclosed.
- Spread: Floating spread
- Trading Leverage: 1:100—1:500
- Additional/Stop-Loss Margin Level: 100%/50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform:
CMGSFX's official website claims to provide users with the MT4 trading platform, however, there is no download link provided on its website, and information about the broker cannot be found on the MT4 trading platform either.
Deposits and Withdrawals:
CMGSFX has not clearly disclosed information regarding its supported deposit and withdrawal methods, fees, and the minimum deposit and withdrawal amounts on its official website.
Conclusion:
Traderknows reminds investors that CMGSFX is a forex scam website with opaque registration and regulatory information, suspected of false advertising. It can only be contacted via email with extremely limited contact information. The website design and content are identical to those of brokerage websites such as CPT Limited, Unisnfx, XCY Global Ltd, BCC Markets Limited, Texttforex, Maxtra Financial Limited, GYG INVESTMENT LTD, indicating potential fraudulent behavior. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation to avoid unnecessary financial losses.
CMGSFX is currently marked as "suspected of fraud" on Traderknows.
