Colmex Pro forex broker offers No Desk Dealing (NDD) in CFDs, stocks, forex and more. The name Colmex Pro is the trading name for a company with the same name – Colmex Pro Ltd. Read our Colmex Pro review to find out if this broker should be known as the Colmex Pro scam.
Colmex Pro Review
They are regulated by CySEC however that regulation only covers how your money is stored. It does not dictate the quality of Colmex Pro’s overall operations.
Colmex Pro Customer Support Review
Colmex Pro forex broker offers customer support through email, fax and telephone.
One of the issues with their customer support system is that there is no live chat option. This would not be a problem for other brokers. However for the Colmex Pro broker, it is.
Their poor response time to email. This is especially a problem because clients like yourself are more likely to contact them through email if you want an issue resolved.
People need to be able to get in touch with their brokers without any hassle. But when you are dealing with the Colmex Pro broker, hassle is guaranteed.
The live chat option would have undoubtedly been an asset because you would have been able to receive immediate assistance.
This could also be done with email but the reality is that Colmex Pro’s customer service agents take weeks to respond to emails.
You need a broker who is going to ensure that your queries are dealt with swiftly.
However it seems that Colmex Pro’s opinion is quite the opposite of this.
We know that you want to register with a trustworthy forex broker that not only helps you make money but also ensures that you receive your money without any problems whatsoever.
Therefore we recommend you avoid the Colmex Pro forex broker. But that is not the only reason. Continue to read our Colmex Pro review to find out other reasons why you would be better off without them.
Colmex Pro Accounts Review
The Colmex Pro forex broker is unlike many other brokers in regards to their account types.
They currently only offer two account types and these are:
- Live Equities/CFD on Equities
- Live Forex
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These two account types also have their own sub-types.
The Live Equities account has a series of plans. The plans range from A1-D and they carry different charges and minimum deposits. Colmex Pro should be known for its rather costly minimum deposit. For the Live Equities option, these range from a minimum of $10K to a maximum of $50K. The costs of trades range from $4 to $9.95. The shares available range from 400 to over 10,000. Fees are also applied to these shares as well.
The CFD account plans are similar to the Live Equities account plans in terms of shares and minimum deposit. The main difference is that ECN and Sec fees are not applied. The minimum deposit however ranges from $3k to $50k. The shares available for plans range from 400 to over 10,000 like the Live Equities plans. However the cost per shares is lower starting at a range of $1.5 and goes upwards to $9.95.
The Live Forex subcategories are:
- Colmex Pro Semi Standard
- Comex Pro Standard
- Colmex Pro VIP
They do not share the cost of the minimum deposits on their website but we found out that the lowest is $400. Either way, the Colmex Pro broker’s accounts cost a lot more than other broker’s accounts..
They do not tell you exactly what you get when you sign up for one of these accounts and given that they do not offer any bonuses, you are more likely to be at a loss if you take the risk.
Colmex Pro Review of the Platform
The Colmex Pro broker uses their own platform know as the Colmex Pro Trader as well as the MT4 Platform.
They claim their trader is top notch and offers a number of features such as streaming market data and fast execution as well as fast trades.
These are merely claims that they cannot back up. This is both disappointing and frustrating.
You often experience connection issues along with false charts which will only result in poorly made trades if you choose to follow them.
Another thing to note is that Colmex Pro deducts US$15 off of your first initial deposit and charges US$40 for every withdrawal. You are not made awar of this at any time whatsoever.
Colmex Pro Review Conclusion
The Colmex Pro broker, while regulated, is untrustworthy and unnecessarily expensive. It appears that while they are not a scam in the legal sense, they are going to cause you far more harm than good.