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colmex
- Thread starter scholfield
- Start date
- Watchers 23
Colmex Pro-Crooks
I can offer you this experience, as I was involved with this broker.
Firstly the commissions offered at time of signup never did materialize, even after persistent nagging emails.
I used the Colmex Expert platform for months, trading minimal size and paid them their min. amount per side. Basically trying out different stragedies, with the feel of the market. So I paid them a wack of money in commissions over many months.All profits from the trades were eaten up with the commissions.I was trading CFD's
My account was around 10k, and they were offering 12 to 1 margin. Much above the typical 4 to 1, but it came with a price.
As I got confidence in my setups and trading I started to increase my size and frequency. I
worked up my account to over 50k. Unbeknowing to me, they apparantley did not like the way I was trading. When I went to withdraw my funds, they froze my account for over a week as they reviewed all the trades, in the end they reversed all the trades they didnt like, and put the account minus 50k.
I can tell you I made all trades with a mouse(no automation and used a IOC Limit order at my price of choice). The platform filled most of my orders as requested.
I have paperwork showing my account over 50k, before Colmex went in and manipulated all the trades to their choice of prices.
I would not recommend anyone to use this broker!!!
I can offer you this experience, as I was involved with this broker.
Firstly the commissions offered at time of signup never did materialize, even after persistent nagging emails.
I used the Colmex Expert platform for months, trading minimal size and paid them their min. amount per side. Basically trying out different stragedies, with the feel of the market. So I paid them a wack of money in commissions over many months.All profits from the trades were eaten up with the commissions.I was trading CFD's
My account was around 10k, and they were offering 12 to 1 margin. Much above the typical 4 to 1, but it came with a price.
As I got confidence in my setups and trading I started to increase my size and frequency. I
worked up my account to over 50k. Unbeknowing to me, they apparantley did not like the way I was trading. When I went to withdraw my funds, they froze my account for over a week as they reviewed all the trades, in the end they reversed all the trades they didnt like, and put the account minus 50k.
I can tell you I made all trades with a mouse(no automation and used a IOC Limit order at my price of choice). The platform filled most of my orders as requested.
I have paperwork showing my account over 50k, before Colmex went in and manipulated all the trades to their choice of prices.
I would not recommend anyone to use this broker!!!
You only got one post at this forum and that makes me a little bit doubtful. Nevertheless, if it is true, it is a real horror trading story. I think a Colmex representative need to comment on you post in order not to scare of traders. When did this occur and what CFDs did you trade? Also it would help to know your preferred trading style.I can offer you this experience, as I was involved with this broker.
Firstly the commissions offered at time of signup never did materialize, even after persistent nagging emails.
I used the Colmex Expert platform for months, trading minimal size and paid them their min. amount per side. Basically trying out different stragedies, with the feel of the market. So I paid them a wack of money in commissions over many months.All profits from the trades were eaten up with the commissions.I was trading CFD's
My account was around 10k, and they were offering 12 to 1 margin. Much above the typical 4 to 1, but it came with a price.
As I got confidence in my setups and trading I started to increase my size and frequency. I
worked up my account to over 50k. Unbeknowing to me, they apparantley did not like the way I was trading. When I went to withdraw my funds, they froze my account for over a week as they reviewed all the trades, in the end they reversed all the trades they didnt like, and put the account minus 50k.
I can tell you I made all trades with a mouse(no automation and used a IOC Limit order at my price of choice). The platform filled most of my orders as requested.
I have paperwork showing my account over 50k, before Colmex went in and manipulated all the trades to their choice of prices.
I would not recommend anyone to use this broker!!!
Cyprus has turned the financial services industry around in the past few years, Colmex nor its cliemts were affected during the crisis as the majority of funds were held in HSBC London. Further the Investor Compensation Fund is a Government scheme that insures non-professional investors up to €20,000 in the event of the failure of the broker. If you would like further details please feel free to contact me [email protected]
Thanks for the heads-up. I've always been very wary about using a non-UK broker. There seem to be plenty of new FX firms comign out of the woodwork in Cyprus at the moment, makes me nervous.
I find there's seldom much between them in terms of spreads, so I tend to stick with UK brokers for security. Better the devil you know, eh?
I am having the same experience, need info!
Hi there,
We also started an account with Colemax pro about two months ago. As soon as we started trading, they kept changing the rates/fees. Meanwhile we started making good trades and everyday with positive trade results, they would keep increasing our fees. Eventually they raised the fees to a point that we could not do reasonable trading with them, thus we requested pay out. It's about 12 days and they are not paying back the money. We started the account with 5k and took it to 28k, they re-adjusted the trades and applicable fees to 21k after our pay out request and even then they are not paying. What did you get at the end? Did they pay you some money at the end? What did you do?
Please share as we are feeling really frustrated and looking for our options to deal with them.
Many thanks,
Nomi
Hi there,
We also started an account with Colemax pro about two months ago. As soon as we started trading, they kept changing the rates/fees. Meanwhile we started making good trades and everyday with positive trade results, they would keep increasing our fees. Eventually they raised the fees to a point that we could not do reasonable trading with them, thus we requested pay out. It's about 12 days and they are not paying back the money. We started the account with 5k and took it to 28k, they re-adjusted the trades and applicable fees to 21k after our pay out request and even then they are not paying. What did you get at the end? Did they pay you some money at the end? What did you do?
Please share as we are feeling really frustrated and looking for our options to deal with them.
Many thanks,
Nomi
I can offer you this experience, as I was involved with this broker.
Firstly the commissions offered at time of signup never did materialize, even after persistent nagging emails.
I used the Colmex Expert platform for months, trading minimal size and paid them their min. amount per side. Basically trying out different stragedies, with the feel of the market. So I paid them a wack of money in commissions over many months.All profits from the trades were eaten up with the commissions.I was trading CFD's
My account was around 10k, and they were offering 12 to 1 margin. Much above the typical 4 to 1, but it came with a price.
As I got confidence in my setups and trading I started to increase my size and frequency. I
worked up my account to over 50k. Unbeknowing to me, they apparantley did not like the way I was trading. When I went to withdraw my funds, they froze my account for over a week as they reviewed all the trades, in the end they reversed all the trades they didnt like, and put the account minus 50k.
I can tell you I made all trades with a mouse(no automation and used a IOC Limit order at my price of choice). The platform filled most of my orders as requested.
I have paperwork showing my account over 50k, before Colmex went in and manipulated all the trades to their choice of prices.
I would not recommend anyone to use this broker!!!
Another one poster with an agenda, still, I guess things are getting a little bit uncomfortable for the Colmex representative. No one in their clear state of mind would start trading with them upon reading this until it is cleared up. They need to make some kind of some statement on this thread.Hi there,
We also started an account with Colemax pro about two months ago. As soon as we started trading, they kept changing the rates/fees. Meanwhile we started making good trades and everyday with positive trade results, they would keep increasing our fees. Eventually they raised the fees to a point that we could not do reasonable trading with them, thus we requested pay out. It's about 12 days and they are not paying back the money. We started the account with 5k and took it to 28k, they re-adjusted the trades and applicable fees to 21k after our pay out request and even then they are not paying. What did you get at the end? Did they pay you some money at the end? What did you do?
Please share as we are feeling really frustrated and looking for our options to deal with them.
Many thanks,
Nomi
MajorMagnuM
Legendary member
- Messages
- 9,284
- Likes
- 888
holy ****I can offer you this experience, as I was involved with this broker.
Firstly the commissions offered at time of signup never did materialize, even after persistent nagging emails.
I used the Colmex Expert platform for months, trading minimal size and paid them their min. amount per side. Basically trying out different stragedies, with the feel of the market. So I paid them a wack of money in commissions over many months.All profits from the trades were eaten up with the commissions.I was trading CFD's
My account was around 10k, and they were offering 12 to 1 margin. Much above the typical 4 to 1, but it came with a price.
As I got confidence in my setups and trading I started to increase my size and frequency. I
worked up my account to over 50k. Unbeknowing to me, they apparantley did not like the way I was trading. When I went to withdraw my funds, they froze my account for over a week as they reviewed all the trades, in the end they reversed all the trades they didnt like, and put the account minus 50k.
I can tell you I made all trades with a mouse(no automation and used a IOC Limit order at my price of choice). The platform filled most of my orders as requested.
I have paperwork showing my account over 50k, before Colmex went in and manipulated all the trades to their choice of prices.
I would not recommend anyone to use this broker!!!
MajorMagnuM
Legendary member
- Messages
- 9,284
- Likes
- 888
Hi there,
We also started an account with Colemax pro about two months ago. As soon as we started trading, they kept changing the rates/fees. Meanwhile we started making good trades and everyday with positive trade results, they would keep increasing our fees. Eventually they raised the fees to a point that we could not do reasonable trading with them, thus we requested pay out. It's about 12 days and they are not paying back the money. We started the account with 5k and took it to 28k, they re-adjusted the trades and applicable fees to 21k after our pay out request and even then they are not paying. What did you get at the end? Did they pay you some money at the end? What did you do?
Please share as we are feeling really frustrated and looking for our options to deal with them.
Many thanks,
Nomi
holy ****
Another one poster with an agenda, still, I guess things are getting a little bit uncomfortable for the Colmex representative. No one in their clear state of mind would start trading with them upon reading this until it is cleared up. They need to make some kind of some statement on this thread.
I would be more than happy to hear from Colmex as well, but that most likely won't happen. I posted my information so others can be aware of this broker's reputation.
I'm sure their are others out there with similar incidents.
holy ****
Looks like there is more to the story. Dig deeper and you will find more trash.
Apparently Mier Barak is part of Colmex. If you search Tradenet review elsewhere you should see more reviews and issues relating to the apparent prop firm/bucket shop.
It's sounding more and more like a big scam.
Sure thing, usually I don't take to much notice of bad reviews before trying on the broker myself in real live trading. But these reports goes beyond the usual "bad review" broker. So one must be careful, I need more reports from elsewhere as well. I notice you both are from Canda, a coincident? The Colmex representative is silent at the moment, not a good sign I must say.I would be more than happy to hear from Colmex as well, but that most likely won't happen. I posted my information so others can be aware of this broker's reputation.
I'm sure their are others out there with similar incidents.
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What people do not realise about trading in places like Cyprus is not just the lower regulatory cover but (more importantly) there is nobody to complain to if they stiff you.
In the UK you can complain to the FOS who are no friends of the financial services industry and who will bend over backwards to find in favour of the client if they possibly can.
In the UK you can complain to the FOS who are no friends of the financial services industry and who will bend over backwards to find in favour of the client if they possibly can.
pboylesisadick
Newbie
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It's just another Cyprus registered 'broker', there's a reason these companies register themselves in 3rd world jurisdictions and it's not the weather. Your money is at risk with all of these offshore brokers. Stick to UK regulated brokers, at least if they steal your money you will have some access to compensation.
It seems that your brain is a 3rd world product instead. Cyprus is a member of the European Union, as third world as the UK would be considered.
Not to mention how many scam companies are incorporated under UK jurisdiction.
Jimmi.hopa
Newbie
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This is all BS. All written by agenda motivated new members. How do I know? Simple: I have a Colmex account and never had an unsolved issue. Did I have any issues? Yes, but I had more with other brokers. Let me tell you this: Colmex has an EU Mifid regulation, therefore customers can complain to the regulators and there is nothing a regulated broker fears more. If 10% of the stories here were true, they wouldn't last regulated for a year. They are in business for many years. I was referred by Meir Barak who has an account with them since 2008 and this trader knows what he is doing. Seriously, don't buy the BS written by agenda motivated competitors. Colmex is the only broker who lets you trade real market spreads with a professional platform. You need to try them out for yourself.
themarketblueprint
Member
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- 5
This thread went dead, but Colmexpro still seem very much an active entity
what's the current outlook for using Colmexpro?
what's the current outlook for using Colmexpro?
Hi guys. Just came across this forum after I too was interested in Colmex. Have there been any updates on your issues? Did you get your money back in the end? I love their platform but they charge so much commission. $0.01/share per ticket. So for 1 trade of 5000shares you’ll be paying $100 in comission. $50 for buying and 50 for selling. I think this is a bit ridiculous but I haven’t used many brokers so is this normal? I live in the UK. Are there any brokers similar to Colmex with a level 2 that I’d be able to use?
