CBX Capital – Broker Review

CBX Capital

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CBX Capital

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Caution Investors CBX Capital – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)

Overview:

CBX Capital is the trading name of CBX Capital Ltd, a company that claims to be registered in London, UK. However, according to the Financial Market Authority (FMA) of Austria, CBX Capital is not authorised to carry out banking transactions in Austria that require a license. The FMA warns investors against concluding transactions with CBX Capital, as it may be involved in fraudulent or manipulative practices, such as insider dealing, market manipulation, misrepresentation of material information, etc. The FMA also states that CBX Capital is neither permitted to trade on a commercial basis on its own account or on behalf of others. The FMA published this warning on 10 Oct 2023, and you can find the link to the official announcement here: https://www.fma.gv.at/en/cbx-capital/

Regulation and Compliance:

As mentioned above, CBX Capital is not regulated by the FMA of Austria, nor by any other reputable regulatory authority. The company does not provide any information about its registration number, license number, or legal address on its website. This means that CBX Capital is operating illegally and without any oversight or protection for its clients. If you choose to trade with CBX Capital, you are exposing yourself to a high risk of losing your money and becoming a victim of fraud or scam.

Customer Reviews:

A quick search on the internet reveals that CBX Capital has a very poor reputation among its customers. Many traders have reported that CBX Capital is a scam and that they have been unable to withdraw their funds or contact customer service. Some customers have also complained that CBX Capital has manipulated their trading results, charged them hidden fees, or closed their accounts without any explanation. Here are some examples of negative customer reviews about CBX Capital:

– “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 claims to offer online trading services in various financial instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. However, these products and services are not verified or endorsed by any regulatory authority or reputable third party. Moreover, CBX Capital does not provide any information about its trading conditions, such as leverage, spreads, commissions, fees, execution speed, etc. This makes it impossible for traders to evaluate the quality and fairness of CBX Capital’s products and services.

Location:

CBX Capital claims to be located in London, UK. However, this claim is not supported by any evidence or proof. The company does not provide any physical address or phone number on its website. The only way to contact CBX Capital is through email or live chat. However, many customers have reported that CBX Capital does not respond to their emails or chats or provides vague and unsatisfactory answers.

Customer Service:

CBX Capital claims to have a professional and friendly customer service team that is available 24/7 via email or live chat. However, this claim is contradicted by the numerous complaints and negative reviews from customers who have experienced poor or non-existent customer service from CBX Capital. Many customers have reported that CBX Capital does not answer their queries or requests or provides misleading or false information. Some customers have also reported that CBX Capital has blocked or ignored their communication after they requested to withdraw their money or complained about their trading results.

Conclusion:

Based on our review, we conclude that CBX Capital is a scam and a fraudulent broker that should be avoided at all costs. CBX Capital is not regulated by any reputable authority and operates illegally and without any oversight or protection for its clients. CBX Capital has a very poor reputation among its customers and has been involved in fraudulent or manipulative practices, such as insider dealing, market manipulation, misrepresentation of material information, etc. CBX Capital does not provide any information about its trading conditions, products and services, location, or customer service. CBX Capital does not allow its customers to withdraw their money and blocks or ignores their communication.

If you are looking for a reliable and trustworthy broker to trade with, we recommend that you choose a broker that is regulated by a reputable authority, such as the FCA in the UK, the ASIC in Australia, the CySEC in Cyprus, or the NFA in the US. These regulators ensure that the brokers comply with the highest standards of safety, security, transparency, and fairness. They also provide various mechanisms to protect the clients’ funds and rights, such as segregated accounts, compensation schemes, dispute resolution, etc.