A Visit to Forex Broker CLMFX in London

Full name of the broker: City of London Markets

Business scope: Shares, Bonds, CFDs, Futures, Options, Forex, ETFs, etc.

Address: The Royal Exchange London EC3V 3DG UNITED KINGDOM

Visited by: WikiFX

Survey background

Recently, many investors have reported to WikiFX about the withdrawal problems and severe slippage on the British broker CLMFX. There are even victims claiming that the platform is a deceptive one and hoping WikiFX to verify and expose it. To be responsible for investors with zero tolerance for illegal platforms, WikiFX decided to visit the broker in London.

Address of CLMFX on its official site

Survey process

According to the official site of CLMFX, its office in the UK is at the Royal Exchange, which is located in the commercial center of London, the internationally well-known financial center with most forex volumes. As a landmark of the City of London, the rent here is quite expensive, thus traders working in this place are usually strong enough.

Location of the Royal Exchange in the map

The visitor went straight to the office of CLMFX with the assistance of navigation. After arriving at the destination, a magnificent 19th-century building presented itself with the words “Royal Exchange” on the stone wall demonstrating a strong neoclassical style.

The visitor got through the gate as it was open wide, and the first thing that came into sight was “The Royal Exchange” logo at the entrance. From the exterior decoration, this building showed a clear ritzy image for commerce.

The visitor entered the building along the corridor and found a floor directory. Instead of finding CLMFX's name on the sign, the visitor found a number of jewelers, luxury brands, art dealers, leather companies and restaurants. Whats more, the visitor took a turn around the building but found no information related to CLMFX.

This visit confirms that the workplace of broker CLMFX in UK dose not exist. On the WikiFX APP, CLMFX has only received a rating of 1.83. It is currently under the “operation beyond jurisdictions”, that is, although the brokers are authorized with licenses of the regulatory agencies in various countries (or just register a serial number), the prescribed qualifications do not cover the business of forex brokerage. In other words, the forex tradings provided by these brokers are beyond the supervision of the regulatory agencies, which means the investment capital is under no protection.

The broker CLMFX only received a rate of 1.83 on the WikiFX APP

Important notes: Investors who are worried about whether their brokers are legal can download WikiFX for detail.

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