CGMA Trade Review – The Real Truth About CGMA Trade Scam

CGMA trade: Legitimate Broker or Scam?

The CGMA trade website tries convincing us that it is a smart idea to invest through an offshore broker in the financial market. We could not find any evidence that this forex broker is legitimate.
You can expect clear and complete information on the broker’s company, including its location and regulatory requirements. This information on the CGMA Trade website is inconsistent and doesn’t stand up to scrutiny.

The website’s footer first mentions Cgma-trade Ltd., then it states that Kayser Ltd. holds the license in Seychelles. We do not find any registered brokers in the Seychelles Financial Services Authority database. We do not have any evidence that the company is connected to the CGMA Trade website.

However, verification has shown that such a company is not among the SVG’s registered companies. CGMA Trade does not know who we are dealing and what laws apply to the agreement between the company, client, or both.

We can only be certain that CGMA Trade do not regulated.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

CGMA Trade Accounts

CGMA Trade claims that it offers investment in shares, indices and cryptocurrencies as well as forex and commodities. However, the account descriptions don’t include details about trading parameters and tradable instruments.

The spread on the trading platform is approximately 1 pip. The website also claims that CGMA Trade doesn’t charge additional commissions. Although this seems to be competitive in theory, we don’t believe that CGMA Trade offers real trading.
CGMA Trade doesn’t provide any clear information about maximum leverage. The only mention of a level at 1:200 is all that is provided.

This level is not available to regulated brokers. High leverage trading allows for higher profits but increases the chance of unexpected and large losses. Retail traders are subject to the strictest restrictions by all major regulators.

The maximum allowed level in the EU, UK, and Australia is 1:30. In the USA it is 1:50. This limit applies only to major currency pairs. You can use even less leverage for volatile assets.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Fenix Securities, FXrally, PixPal.

CGMA Trade Withdrawals

CGMA Trade claims that it allows withdrawals and deposits via bank transfer, credit card, cryptocurrencies, and the mysterious payment processor Paymt2. The website displays an error message when you try to use a credit card or bank transfer.

Scammers favor cryptocurrency transactions because they aren’t subject to refunds. Most brokers are honest and offer clients transparent payment options, such as PayPal or Skrill.

The minimum withdrawal amount allowed is EUR 100, according to the Terms and conditions. Additional fees may be charged for withdrawals exceeding 500 USD. However, the amount is not stated.

After the account has earned a bonus, it cannot withdraw funds until it has traded at least 20 standard lots per 100 USD bonus. These clauses are used by scammers to stop withdrawal requests.

CGMA Trade charges 25% to withdraw money from your account without a trade.

CGMA Trade: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about CGMA Trade. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about MilleniumOne!