Warning Investors CBX Capital – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
In the vast landscape of online trading platforms, CBX Capital emerges as a controversial figure, raising significant concerns about its legitimacy and transparency. Claiming to be registered in London, UK, CBX Capital has come under scrutiny from regulatory authorities, particularly the Financial Market Authority (FMA) of Austria. In this review, we will delve into the critical aspects of CBX Capital, including regulation, customer support, and customer feedback, to provide an informed perspective on the risks associated with this platform.
Regulation and Compliance:
CBX Capital’s Achilles’ heel becomes apparent when it comes to regulation and compliance. The company operates without any form of oversight or authorization from reputable regulatory bodies. Notably, the FMA of Austria has issued a stark warning against engaging in banking transactions with CBX Capital, citing concerns of potential fraudulent activities. The absence of a registered license, registration number, or legal address on the company’s website further underscores the high-risk nature of trading with CBX Capital. The absence of regulatory safeguards exposes clients to the peril of financial loss and possible scams.
Customer Support and Customer Reviews:
The true measure of any trading platform’s worth lies in its customer support and customer feedback. Unfortunately, CBX Capital falls short in both these critical areas. A quick online search reveals a trail of discontent among traders who have interacted with this platform. Grievances include an inability to withdraw funds, challenges in contacting customer support, allegations of market manipulation, hidden fees, and account closures without explanation.
To offer a glimpse into customer dissatisfaction, here are a few real-life experiences shared by traders:
– “CBX Capital is a scam. They took my money and never let me withdraw it. They keep asking for more documents and fees. They are not answering my calls or emails. Stay away from them.”
– “I opened an account with CBX Capital and deposited $500. They gave me a bonus of $250 and assigned me an account manager. He told me to follow his signals and promised me huge profits. However, after a few trades, I noticed that my balance was decreasing rapidly. I checked the trading history and saw that he was placing trades against the market direction and with huge lot sizes. He was deliberately losing my money. When I confronted him, he said that it was a technical error and that he would fix it. But he never did. He stopped answering my calls and messages. I tried to withdraw my money but they rejected my request. They said that I had to complete a turnover of 30 times the bonus amount before I could withdraw anything. This is impossible and unfair. They are scammers.”
– “CBX Capital is a fraud. They have fake testimonials and awards on their website. They are not regulated by anyone. They have no customer service. They manipulate the prices and spreads. They close your trades at their will. They do not allow you to withdraw your money. They are thieves.”
Products and Services:
CBX Capital markets an array of financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies. However, the absence of validation by any reputable regulatory authority or third-party endorsement casts a shadow of doubt over the quality and fairness of these offerings. CBX Capital’s website lacks crucial information concerning trading conditions such as leverage, spreads, commissions, fees, and execution speed, further leaving potential clients in the dark about what to expect.
CBX Capital claims to be based in London, UK. However, this claim remains unsubstantiated, as the company fails to provide any concrete evidence, such as a physical address or a phone number. The only available means of communication are through email or live chat, which, according to numerous reports, leads to unresponsive or vague interactions.
Despite its claims of a professional and accessible 24/7 customer service team, CBX Capital’s actual performance in this area is a cause for concern. Numerous customers have expressed dissatisfaction with the company’s customer service, reporting unaddressed queries, misleading information, and an overall lack of assistance. Some customers even reported having their communication blocked or ignored after seeking to withdraw funds or express grievances regarding their trading experiences.
In light of our comprehensive review, it is evident that CBX Capital falls far short of the standards expected of a reputable trading platform. The absence of regulation, coupled with the litany of customer complaints, casts a dark shadow on the platform’s integrity and trustworthiness. For those seeking a reliable and secure trading environment, we strongly advise against engaging with CBX Capital. Instead, opt for a broker regulated by respected authorities like the FCA in the UK, the ASIC in Australia, the CySEC in Cyprus, or the NFA in the US. These regulatory bodies prioritize client safety, transparency, and fairness, offering peace of mind and safeguards to protect traders’ funds and rights through mechanisms such as segregated accounts and dispute resolution options. Your financial well-being deserves the protection and assurance that CBX Capital fails to provide.