CCXMARKETS REVIEW CONTENT:
- GENERAL INFORMATION, REGULATIONS AND LICENSING
- ACCOUNT TYPES
- TRADING SERVICES
- CUSTOMER SERVICE
- Broker Name: CCXMarkets
- Broker Type: Forex
- Country: St. Vincent and the Grenadines
- Regulation: –
- Address: Suite 305, Griffith Corporate Centre, Beachmont Kingstown, P.O. Box 1510, St. Vincent and the Grenadines
- Broker status: Not regulated
- Minimum deposit ($): $300
- Maximal leverage: –
- Spread: –
- Scalping allowed: –
Should You Trust CCXMarkets
CCXMarkets is an offshore broker, operating out of St. Vincent and the Grenadines. The website of the broker does not give out much information. What we do know however is that they are not regulated. This is a major red flag, as well as being an offshore broker. Now, these two signs are not always definitively damning for brokers. However, they are a good indicator most of the time. These factors are enough to suspect that CCXMarket might be a scam. Our suspicions only escalated, the more we researched for our CCXMarket review, as it has other tell signs as well.
The real evidence of foul play was their address. As soon as we saw it, it became obvious. This specific address has come up in the past in connection with other fraudulent brokers. After further research, we found out that the owners of the complex that the address belongs to have come out to state that various scam brokers use their address. This seems to cement CCXMarkets.com as far as our review is concerned.
CCXMarkets claims to offer a wide variety of trading accounts. However, as the website neglects to convey any relevant information, we cannot distinguish what is the difference in benefits between the $250 000 account and for example the $250 account. Nothing is mentioned about trading costs or leverage levels. None of the many other factors that one would expect to see on a legitimate broker site are present.
The only information we could find was concerning the trading pairs which, if the broker was not a scam would’ve been quite impressive. CCXMarkets boasts to include such currencies as: USDBRL, USDTHB, USDZAR, USDTRY, USDSGD, USDMXN, USDPLN, USDILS, USDINR, USDKRW, USDRUB, USDRON, USDHKD, USDIDR, USDHUF, USDCZK, USDCNH, USDSEK, USDNOK, and USDDKK.
Another unusual fact is that the broker does not have an option for a free demo account. This is usually an account that one gets to get acclimated to the brokerage and to make sure that everything is done properly. All legitimate brokers have this account as a given and the lack of one is another sure sign of a scam broker.
The lack of information and confusion only continues when we take a look at the platforms that the website offers. Leverate`s Activ8 seems to be the platform that is provided, but MetaTrader4 and cTrader also come up in descriptions through the site. In addition to this, after signing up for the broker none of these platforms are actually available, and all you get is a dashboard that does not offer any trading options.
Customer service seems to be all but nonexistent. There is a chatbox option on the website, however, there is hardly any response to questions or complaints and even then only at a much later time. Contacting the broker on their phone number doesn’t work, as is expected from a fraudulent company. So in the end, the only option to contact them seems to be by email. This system seems to be designed solely for the purpose of hiding the fact that the necessary structure needed to operate a brokerage company is non-existent.
All the above information can only indicate one thing in the end. That CCXMarkets is undoubtedly a scam brokerage site. Furthermore, it seems to be catered to only the most inexperienced traders. We assume this as the signs of their fraudulence seem obvious to anyone with even the slightest experience in trading. Beginner traders should be wary of such dubious, unregulated, offshore traders as they often turn out to be illegal scam sites.
If you are still unsure of our assessment, we advise you to search for other reviews of this broker. You will see that they all seem to come to the same conclusion that we have.
*Edit: Their website is down due to allegations.
- Trading Instrument