Cix Markets Review: is cixmarkets.com legit or Scam?

 
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Cix Markets is a UK-based Forex and CFDs (Contract for Difference) broker with a vibrant website.

Cixmarkets.com’s claim to fame is that they offer “human service, proven integrity, transparency and safety of funds”.

In other words, this broker is working round the clock to gain your trust. But the problem is that the company is so sneaky. They don’t practice what they preach on their website.

In fact, if you have fallen for this kind of trap and you ended up losing money, it’s not too late to learn how to recover it here.

Cix Markets review and overview

According to the marketing literature on their website, Cix Markets is the property of a UK-based company called City Credit Capital (UK) Limited.

City Credit Capital (UK) Limited is allegedly registered by the UK financial authority which is known as FCA.

We investigated the alleged licensing of this company by the FCA and noticed that indeed City Credit Capital (UK) Limited is licensed but the website listed on the FCA database is cccapital.co.uk and not cixmarkets.com.

The financial regulator requires registered companies to list all their websites with the authority.

But here’s a case where a company is not owning up to the responsibility of doing business from a totally different website that’s not known to the authority.

Probably City Credit Capital (UK) Limited is a white label provider of CIX Markets.

But if that’s not the case, then it would mean that CIX Markets is cloning details of a legitimately registered trading company in the UK.

Something is sinister, and we can’t trust this broker yet until they come out of their hiding place to confess the truth.

As you can see here, this broker has been around since 2015. This is pretty a long time to keep selling brokerage services without a valid license of their own.

Additionally, selling their services to US citizens is something that does not sit very well with authorities.

Remember that the US has banned CFDs trading. These ‘financial instruments” are highly prohibited.

Unfortunately, CIX Markets is still targeting US citizens despite knowing very well that their service is illegal in the US.

Citizens who partake in this illegal trading could be accused of committing felony, and would incur hefty fines if they’re caught trading with a broker like CiX markets.

This is the last thing you want.

CiX Markets needs to be investigated

The broker claims that traders’ funds are insured up to the sum of £85,000.

They claim that this insurance is guaranteed by the FSCA in the event that the company goes bankrupt.

However, we do not have the assurance that this statement is true. After all, it’s impossible to verify this claim.

It could just be a statement that they use because they desperately want clients.

The broker is also claiming that funds of their clients are ‘kept in segregated accounts’.

A segregated account is used to hold clients’ funds separately from those of the company.

Licensed brokers follow this directive. However, we can’t be so sure that unlicensed brokers will adhere to this rule.

This broker is also likely to cheat you. Why?

Because the trick is in their CFDs product. There’s a good reason why CFDs are illegal in the US.

The broker is essentially saying that they’re a market-maker just like Plus5 Trade, Fullerton Markets or TradesUrinc.

There’s no legitimate CFDs trading operation that does not rely on the customers’ loss for the profit of the company.

This is technically the essence of a broker that offers market-making in their business model.

Instead of routing your trades to the regulated financial exchanges, these brokers will typically take the opposite side of your trades. They compete with you and the winner takes the profit while the loser ‘donates’ his money to the winner.

In 95% of the cases, the customer will lose his money because you can’t beat a CFDs broker no matter your strategy.

And customers never realize that they’re being taken for a ride by trading on a simulator.

What normally happens if you outsmart a CFDs broker is that they’ll send you an email letting you know that you’ve been banned from the platform for using an “unacceptable trading strategy”.

Being expelled from the platform means account is frozen with all the money that you had deposited in it.

Wrapping it up

Nothing is honest or transparent about these CFDs brokers and particularly CIX Markets.

Traders who use these brokers are increasingly losing money and blaming it on “poor trading strategy”.

The question is even if you had the best strategy, would a market maker sit down and let you win?

Would they pay your profits from their pocket?

Thanks for reading this review. If you have an opinion, leave it in the comment section.

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