What is CBCX？
The CBCX Group, founded in 2010, is an award-winning multi-asset online broker with headquarters in London and offices in South Africa and Singapore. CBCX MARKETS LIMITED, offers quick and easy access to a wide range of markets such as Forex, Precious metals, commodities, indices, futures, and more.
With support for over 20 languages, CBCX caters to traders of all levels and offers superior technology, low-cost spreads, and a choice between MT4 and MT5 platforms. The broker offers two live account types: Brokerage Margin accounts and Direct Trading accounts. However, it is noted that CBCX's FSCA has been exceeded.
We would like to invite you to read the article that follows, where we will assess the broker from multiple perspectives and present organized and concise information. At the end of the article, we will offer a brief summary that will give you a complete understanding of the broker's essential traits.
Pros & Cons
Pros of CBCX:
- MT4 and MT5 Supported: CBCX supports popular trading platforms like MT4 and MT5, providing traders with access to a wide range of tools and indicators for efficient trading.
- Tight Spreads: CBCX offers competitive spreads, which can help traders maximize their profits by reducing trading costs.
- Social Media Presence: CBCX maintains an active presence on social media platforms, allowing traders to stay updated with market news, educational content, and promotions.
Cons of CBCX:
- Regional Restrictions: CBCX has restrictions on certain jurisdictions, limiting access to their services for traders from specific regions.
- Limited Research Selection: CBCX has a limited selection of research materials and market analysis tools, which could be a drawback for traders who rely heavily on comprehensive research for their trading decisions.
- FSCA (Exceeded): This broker exceeds the business scope regulated by South Africa FSCA (license number: 49700).
Is CBCX Safe or Scam？
CBCX claims to offer UK Bank Account for client deposit. However, Financial Sector Conduct Authority - FSCA (license number: 49700), permits CBCX to exceed its business scope. It is essential for traders to bear in mind that investing comes with risks. Therefore, it is advisable to conduct comprehensive research and exercise caution while selecting the investment options that suit their unique needs.
Market Instruments
CBCX provides a diverse range of trading instruments across multiple asset classes, including:
- Forex: CBCX offers trading in major and minor currency pairs, including USD, EUR, JPY, GBP, AUD, NZD, and CAD, among others.
- Precious Metals: The broker enables trading of precious metals like gold, silver, platinum, and palladium, which are often used as safe-haven assets in times of economic uncertainty.
- Commodities: CBCX provides access to a range of commodities, such as crude oil, natural gas, coffee, sugar, corn, wheat, and soybeans, among others.
- Indices: The broker offers trading in a diverse range of global stock indices, including S&P500, NASDAQ, Dow Jones, FTSE, DAX, Nikkei, and more.
- Futures: CBCX provides Futures trading on a variety of underlying assets, including currencies, commodities, stock indices, and more.
Accounts
CBCX offers two live account types: Brokerage Margin accounts and Direct Trading accounts.
- FX & CFD Liquidity: CBCX provides access to liquidity for trading in foreign exchange (FX) markets and contracts for difference (CFDs). Traders can take advantage of price fluctuations in these markets without actually owning the underlying assets.
- API Connectivity: CBCX offers API connectivity, allowing traders to integrate their own trading systems or algorithms directly with the CBCX trading infrastructure.
- Equinix Matching Engine: CBCX utilizes the Equinix Matching Engine, a robust technology solution that ensures fast and reliable execution of trades.
- Web GUI: CBCX offers a web-based graphical user interface (GUI), allowing traders to access and manage their accounts directly from a web browser. This eliminates the need for downloading or installing additional software.
- Institutional Trading GUI: CBCX also provides an institutional-grade GUI tailored for professional traders or institutions. This GUI offers advanced features and functionality to meet the specific trading needs of institutional clients.
Both account types offer competitive pricing, reliable trade execution, and access to a wide range of trading instruments across various asset classes. Traders can choose the account type that aligns with their trading preferences and requirements.
Spreads & Commissions
CBCX offers competitive spreads starting from 0.0 pips. The spread is the difference between the bid and ask price of a financial instrument, and a lower spread generally indicates better trading conditions for traders.
Regarding commissions, CBCX does not provide specific information about commissions on their website. This suggests that they may operate on a spread-only pricing model, where the cost of trading is embedded within the spread itself, and no separate commission is charged per trade. This type of pricing model can be beneficial for traders, as it simplifies the cost structure and allows for more transparency in trading expenses.
Trading Platforms
CBCX offers its clients access to both the MetaTrader 4 (MT4) and the MetaTrader 5 (MT5) platforms. Both platforms are widely used throughout the industry and offer a range of features designed to support traders in their strategies.
The MT4 platform is a popular choice among forex traders as it offers advanced charting and analysis tools alongside an intuitive user interface. Traders can customize and save chart templates, set alerts for certain price levels, and access a range of technical indicators. Additionally, the platform supports automated trading through the use of expert advisors, allowing traders to automate trades based on specific criteria.
The MT5 platform, on the other hand, offers even more features and functionality than its predecessor. In addition to the charting tools and technical indicators available on MT4, MT5 offers more advanced market analysis tools, a greater range of timeframes, and support for both traditional netting and hedging order accounting systems. Additionally, MT5 supports trading in a wider range of asset classes, including stocks and futures, making it a more versatile platform overall.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +44(0) 2037288999
+27(0) 311000682 (24/7)
Email: support@cbcx.com, primeservices@cbcx.com
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram and Linkedin.
CBCX provides an online messaging feature within their trading platform, enabling traders to communicate directly with customer support or other traders. This functionality offers a convenient means to receive real-time assistance or engage in discussions with fellow traders.
Conclusion
In conclusion, CBCX is an online broker that offers a diverse range of trading options and services to clients worldwide. CBCX provides access to a wide range of markets. The broker supports popular trading platforms such as MT4 and MT5, catering to traders of all levels.
However, its license of FSCA has been exceeded. Therefore, traders should verify the regulatory status of CBCX or any broker they choose to work with to ensure compliance with industry standards and regulatory requirements.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2023-11-16 18:09
2023-08-11 17:31
