Do You Want to Know If CMC Bits Is Legitimate or a Scam Broker?
If you’ve run across the broker CMC Bits, we certainly hope you didn’t open an account with them. This is one of the most obvious suspected scams we’ve come across. There are plenty of problems on the surface, but where these issues become really apparent are the huge fees and spreads they charge. CMC Bits claims to hold a license from St. Vincent and the Grenadines. Not all offshore brokers are scams, but this has to be seen to be believed.
There Are Some Problems with CMC Bits
The trading conditions are awful. We don’t see how anyone who did comparison shopping among online brokers could have still chosen CMC Bits. Its pips are 4.5 which is terribly high. Its deposit is more than double the average amount at $250. The fees are where we really see a scam at work. It levies huge withdrawal fees of between $50 and $300. Typically brokers may ask for 1% or 2%. There is no excuse for this. In addition, it levies a $90 inactivity fee if you go just one month without trading. This is preposterous. We can’t believe how bad this broker is.
Red Flags that CMC Bits Could Be a Scam Broker
- No license
- No transparency
- False claims
- Bad reviews
If You Need Fund Recovery from CMC Bits, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with CMC Bits close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.
