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Capital Markets Banc Review 2021: Considering This Unregulated Broker?

Jan 24, 2021 , ,
Capital Markets Banc

Capital Markets Banc, also going by CMB, is an online forex and CFD broker. They run their operations out of Dominica. Working out of this jurisdiction allows the broker to avoid the strict financial regulations of most major financial centers. Several of those regulators have warned against doing business with the broker.

Accumulated Warnings

Similar to the binary options broker Binary Uno, Capital Markets Banc has accrued several warnings from prominent regulators. In 2017, the UK’s financial regulator put out a warning against Capital Markets Banc in their ongoing list of unregistered brokers. Because the broker has no authorization, the regulator warns that traders do not enjoy the same protections they would with a registered broker. Afterward, the Italian regulator CONSOB issued a similar warning.

Capital Markets Banc Review 2021

Trading With Capital Markets Banc

The broker has a markedly average selection of assets. Their total runs around 175, split between forex currency pairs and a variety of CFDs. Regardless of the extent of their selection, none of their assets are viable with the spreads they offer. Their EUR/USD spread sits around 3 pips, several times too high. The broker also has ECN accounts with lower spreads but added commissions.

Account Offerings

Traders can choose between three different standard accounts besides their ECN account. The Mini account requires a standard minimum deposit of $250, while the Pro account takes a whopping $20,000. Because of their lack of registration, this broker isn’t held to any leverage limits. They offer leverage of up to 1:200.

Bring Your Money Back Home

An unregulated broker can be difficult to handle. Regulators warn that the best thing to do is not get involved in the first place. If it’s too late and your money is tied up, you can contact us today to start getting it back.