CawmFX – Real or Fake?

Website URL: http://cawmfx.com

Founded: N/A

Regulations: N/A

Languages: English

Deposit Methods: Credit and Debit Cards, Wire Transfers, Skrill, Neteller, UnionPay, NetBanx, etc.

Minimum Deposit: $200

Free Demo Account: N/A

Number of Assets: N/A

Types of Assets: N/A

CawmFX is another broker that we would advise you to avoid because of its misleading promises, lack of regulation, and lack of transparency. Furthermore, we’re not sure if it even has a trading platform. CawmFX claims to be a trustworthy regulated brokerage with decades of expertise, and it provides nothing short of groundbreaking services. As a result, we owe it to ourselves to see if it stands up under inspection. CawmFX is a fraudulent plan that we’ll disclose in this review.

Trading Accounts and Conditions

There’s not much to say about CawmFX’s trading accounts and conditions since the website is currently down. This is for the best, it renders it ineligible for you to create an account and lose some money.

CawmFX – Advantages

There are no advantages in using this online broker, the people behind this company however will have all the advantages over you and your money if you get duped into investing your money in CawmFX.

Don’t trust this company, keep your money safe!

CawmFX – Disadvantages

Deceives About Being Regulated

CawmFX claims to be regulated, yet this is a complete fabrication and hoax. Furthermore, the broker included a link to a license on the website, indicating that it is mimicking a legitimate Australian organization in order to appear legitimate. CawmFX is a clone company, thus it’s a rip-off, and if you deposit, the broker will take your money.

Clones like CawmFX are risky because scammers pose as employees or representatives of legitimate firms in order to deceive clients and lower their guard. It’s a basic con, but it’s a highly powerful one, given that the number of clones hasn’t stopped growing for years. Every year, FCA exposes roughly 400 clone businesses, and these are merely the ones that have been caught. Because fraudulent schemes like CawmFX abound in the FX market, you should always double-check with the regulators before depositing with a broker.

Plus500

$100

Minimum Deposit

Start Trading

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82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

AvaTrade

$100

Minimum Deposit

Start Trading

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The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

Trading Software

CawmFX gives download links for MetaTrader 5, however, all of the files we received were from a generic distribution. Furthermore, we were denied entry to the Client Area, implying that CawmFX is yet another shady broker. You may, on the other hand, register for free with any registered broker and test its services using virtual money accounts serviced by the broker’s servers. CawmFX, on the other hand, does not allow you to do so.

It’s a ruse; instead, find a legitimate MT5 broker, as the platform is an industry leader with several advanced features including Expert Advisors, dependable complicated indicators, and simple charting tools.

We can’t even ensure that CawmFX can provide any kind of working platform, thus we won’t talk about spreads or trading expenses in that scenario. The broker promises to have 0% spreads, however, this is just not true. Nonetheless, even without a platform, we’ll analyze the trading risks—the leverage is purportedly 1:400, which is a hazardous ratio. Most significantly, Australian brokers are no longer permitted to offer more than 1:30 leverage, demonstrating once again that CawmFX is really a Ponzi operation masquerading as a Forex brokerage.

Deposit and Withdrawal Methods

The minimum deposit is $200, according to reports, and it may be made via credit and debit cards, Neteller, Skrill, Wire Transfers, NetBanx, UnionPay, and other methods. However, because CawmFX did not provide Client Area access, we cannot guarantee that the deposit methods are actually true. In truth, companies like Skrill and Neteller have rigorous anti-fraud procedures, and it’s unlikely that they’ll accept a clear-cut scam like CawmFX. In terms of the rest, credit/debit cards are typically thought to be the greatest option for depositing because customers may reject transactions and perhaps receive a refund.

There is no information on withdrawals or costs. CawmFX lacks any legal documents, indicating that it is a fraud. Forex brokers are financial businesses that receive and handle deposits, and as such, they must produce a myriad of legal paperwork that details all of the terms and conditions. Above all, clients cannot create a legal connection with a broker unless they sign a Client Agreement, Terms and Conditions, Privacy Policy, and other documents. You may fairly assume that any broker who does not provide links to legal papers on his or her website is a scammer.

Uses A Different Company’s Credentials

CawmFX is a complete rip-off since it exploits the license credentials of a legitimate and regulated organization to mislead investors. It’s best to stay with reputable Australian brokerages. CawmFX is advertised as a brand of CAWMFX LIMITED, however, they provide no information about the firm, including no location or phone number. Simultaneously, the website’s fraudsters have filed the following license with the Australian Securities and Exchange Commission (ASIC).

Conclusion

Making money with a complete rip-off like CawmFX is very difficult. Such a broker will only cause you problems and losses that are difficult to recover from. Instead, stick with reputable businesses. Apart from our suspicions that CawmFX is a clone, the brokerage has additional dubious elements that make us doubt its credibility. Their website, for example, is devoid of legal papers such as Terms of Service and Client Agreement.

This is unacceptably risky for a company that manages clients’ money. Furthermore, scam brokers like this one are known to incorporate certain particularly nefarious provisions in their Terms, such as those pertaining to different fees and commissions. And if a brokerage isn’t clear about these, you might wind up losing even more money than you put in.

Upon reviewing the facts and disadvantages that CawmFX brings, no one should even be slightly convinced to invest any money in this copy and fraud online brokerage.

CawmFX

2.1

User Experience

2.2/10

Payment Options

1.0/10

Security

2.5/10

Support

2.5/10

Reputation

2.2/10

Pros

• None

Cons

• Deceives About Being Regulated
• Trading Software
• Deposit and Withdrawal Methods
• Uses a Different Company’s Credentials