CBCX (cbcxglobal.com) is a Contract for Difference (CFD) broker, with its domain registered on September 3, 2024. This broker primarily offers trading services in forex, precious metals, energy, indices, and cryptocurrencies for investors, though some regions where trading might violate local regulations are excluded.
Company Background and Regulatory Status
According to the public information on CBCX's (cbcxglobal.com) official website, the company is headquartered at Moor House First Floor, 21 London Wall, London, EC2Y 5ET, United Kingdom, and is among the top 50 financial services companies in the UK. However, the broker does not disclose detailed company names and registration information on its website, nor does it provide information on regulatory qualifications. Additionally, CBCX's legal documents such as privacy policies, risk disclosures, and disclaimers are quite brief, lacking substantial details, which casts doubt on its legitimacy.
Upon verification, the UK Companies House lists three companies with "CBCX" in their names, one of which has been dissolved. Among the three, only "CBCX MARKETS UK LIMITED" is authorized by the FCA, but its registered website is www.cbcx.co.uk, not cbcxglobal.com, and there is no connection between the content on the two websites.
Further investigation reveals that CBCX (cbcxglobal.com) resembles multiple known scam platforms in website design and content, such as blueberrymarketsltd.com, Fecc Global, and kkrrh.com. These platforms use the same template structure and might be operated by the same team.
Trading Products
cbcxglobal.com offers a range of trading instruments including forex, precious metals, energy, indices, and cryptocurrencies.
- Forex: The global forex market is the most liquid market with enormous trading volumes. Investors engage in arbitrage by trading different currency pairs, significantly affected by economic data, monetary policies, and geopolitical events.
- Precious Metals: Mainly including gold and silver, these are considered safe-haven assets. Their prices usually rise during high inflation or market turmoil, offering value preservation.
- Crude Oil: This market is highly volatile, influenced by supply and demand dynamics, geopolitical factors, and macroeconomic conditions. Brent crude oil and WTI crude oil are the two main benchmarks.
- Indices: Stock indices reflect the overall performance of a basket of stocks, such as the S&P 500 and Dow Jones Industrial Average, providing a benchmark for measuring market performance.
- Cryptocurrencies: An evolving class of digital assets like Bitcoin and Ethereum, their market is significantly influenced by technological innovations, regulatory environments, and market sentiment, making them highly volatile.
Account Opening
The account opening steps at cbcxglobal.com are as follows:
- Visit cbcxglobal.com and click the "Register" button on the homepage to go to the account registration page.
- Fill in the email address and set a login password in the account application form and submit the form to complete the registration.
- After logging into the account, users need to complete KYC identity verification to make deposits and start trading.
Trading Account Information
The trading account information disclosed by cbcxglobal.com is limited, only providing information on spreads, leverage, and contract sizes. Other crucial details concerning specific account types, commission standards, and margin levels are not disclosed.
- Base Currency: USD
- Spread: Floating spreads, minimum 1 pip
- Leverage: 1:100
- Contract Size: 1 lot equals 100,000 currency units
Trading Platform and Deposit/Withdrawal Methods
cbcxglobal.com claims to offer the ST5 trading platform, supporting both web and mobile versions. However, the trading software listed as Sdcfskdvt on the App Store and Sncowete on Google Play appears dubious. Moreover, details on deposit and withdrawal methods, including related fees and minimum amounts, are not clearly stated on the website.
Conclusion
Traderknows warns investors that CBCX (cbcxglobal.com) is a scam broker website constructed with a mass-used template. The website lacks a real company entity and appropriate regulatory credentials. It is advisable for investors to exercise caution, prioritizing brokers with strict regulation and transparent information, to avoid the risk of financial loss.
