CLMForex review. 30 days demo, not a scam?

CLMForex review

CLMForex is a broker from Australia. As such, it is subject to regulations of the Australian Securities and Investments Commission (license no. 164 994 049). CLMForex is part of Core Liquidity Markets Pty Ltd. with its seat in Australia.

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Company headquarters:

Core Liquidity Markets Pty Ltd.
Level 50, 120 Collins Street
Melbourne, VIC 3000, Australia

Consequently, the broker is not subject to the Cyprus CySeC regulations. It's hard to establish to what degree the ASIC can regulate binary options brokers. Having requested information on that, we've received the following message:

Due to the unique nature of each enquiry ASIC is not able to provide interpretations or recommendations specific to some enquiries or circumstances. If you require further information please seek independent advice through an ASIC registered agent, your accountant or solicitor.

It hasn't cleared much as we were simply directed to a subordinate agency, so the question remains unanswered.

Judging by the domain name, binary options are not the only thing CLMForex offers: Forex, metals and CFDs. What sets CLMForex apart is trading directly on MT4 platform via a special add-­on. This opens up many possibilities to use additional tools. Let's hope that this newly introduced trend will be followed by all the competitors. Binary options users keep paying more attention to the speed of the platform and transactions, as well as the accuracy of the charts.

The clients' funds are deposited in an individual account in a renowned Australian bank, Commonwealth Bank, which is supposed to guarantee their safety.

CLMForex platform

With CLMForex you can use MetaTrader4 directly, which makes it much quicker and undoubtedly easier since it's a one­-click type of operation. Why is it so important? Because when we trade according to a strategy every second matters. The price may change while we're switching windows. To add to this, the closing price is much more accurate than when we access platforms via websites. Direct access to MT4 means using more diverse price charts, indicators and robots – apps that make transactions automatic.

However, using MT4 has its drawbacks: limited choices of options (high/low only), assets (only 12 currency pairs available) and expiry time (60 seconds, 5, 10, 15, 30 and 60 minutes). Therefore, it's for those who prefer short-­term options.

Mobile access to the platform is also available.

You can open your account in AUD, USD, EUR, GBP, NZD, SGD. Transactions start at $1 and go as high as $250.

The maximum return is quite satisfactory: 80% (60 seconds).

Binary options with CLMForex require installing MT4 and FXLite add-­on (all the necessary links are in the e­-mail received upon registration). Then we log in to MT4 using FXLite app and the same login. To go with the same options, as soon as we're in we need to right click "Market" chart, choose "Show all instruments" and then choose only those starting with "bo". Clicking an instrument twice we'll see UP and DOWN options available (a.k.a. high/low):

 

Once we've chosen, the timer goes off. If we've chosen a winner, we get the following information:

 

CLMForex deposits and withdrawals

Your account can be funded via bank wires, credit cards and neteller, webmoney, Skrill or china unionpay. The same goes for withdrawals. The minimum to deposit is $250.

No fees are guaranteed for two withdrawals a month. If you withdraw more than twice a month, you'll pay $25 each time. Withdrawals are done in a timely manner. Electronic withdrawals can be handled within the same day.

DEMO account

The broker offers a demo account on MT4 platform without any additional fees or conditions. It's available for 30 days.

Client Support

There is a 24 support system available, Sunday (5:00PM EST) to Friday (5:00PM EST). You can also contact them using the live chat, e­-mail and phone.

Educational materials

To use this broker you need to be already educated, since there are hardly any materials here.

Bonus

CLMForex offers up to $500 bonus. The bonus can be withdrawn only when the minimum trading volume requirement has been met (50 times the value of the bonus you received).

CLMForex SCAM?

There is no reason to claim that the program is a scam. The broker is registered and subject to Australian regulations. We haven't found any indication of bad intentions.

Summary

CLMForex is a strong suitor for those who can't even imagine using only a web platform. What's truly beneficial is that MT4 platform enables analyzing charts by means of indicators and additional scripts and you can start with just $1. What's more, the demo account offer is really promising: even if you end up not using the broker's services you still get to test the platform for 30 days. Still, it would be great to have a wider choice of assets.

Discussion forum and opinions

Forum link

Broker details
Broker’s name CLMForex
Website url www.clmforex.com
Start of 2013
Country of registration Australia
Regulation yes (ASIC)
Platform MT4
Markets Forex
Options High/Low
Assets 12
Deposit methods wire transfer, credit card, neteller, webmoney, china unionpay, Skrill
Withdrawal methods wire transfer, credit card, neteller, webmoney, china unionpay, Skrill
Deposit min. $250
Min/max stake $1/$250
Withdrawal min. $50 (Netteller and credit card), $100 (wire transfer)
Deposit/withdrawal fee none (up to 2 withdrawals a month, otherwise $25)
Profit up to 80%
Account currency AUD, USD, EUR, GBP, NZD, SGD
Bonus up to $500 (50x turnover)
Failed transactions refund none
Demo yes, 30 days
On-line support yes
Languages Polish, English, German, Chinese, Hungarian, Spanish
US traders no
Expiry times 60 seconds; 5, 10, 15, 30 and 60 minutes
Educational materials none
Mobile trading no

CLMForex rank

  • Platform: MT4
  • Launched: 2013
  • Registration: Australia
Withdrawals
Platform
Support
Functionality and look
Reliability
Payment methods
Educational materials
Return
Assets
Good

User Rating:

5/5
(1 votes)
  • Platform: MT4
  • Launched: 2013
  • Registration: Australia
Withdrawals 96%
Platform 96%
Support 90%
Functionality and look 92%
Reliability 86%
Payment methods 80%
Educational materials 20%
Return 80%
Assets 60%
78% Good

User Rating:

101
(1 votes)

Pros
  • Direct trading on MT4
  • Low stake
  • Mobile trading
  • Reliable registration country
  • Automatic scripts allowed
  • Free demo account
  • Fast withdrawals execution (even up to several hours)
  • 24-hours support
Cons
  • Few educational materials
  • Little choice of assets

 

 



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