ColmexPro.com Review

1.69 · 14 REVIEWS
Updated: Jul 23, 2020 · Visit site  · Is this your company?

ColmexPro is a forex broker. Colmex Pro offers the MT4, Web Trader and Mobile forex online trading top platforms. ColmexPro.com offers over 50 forex pairs, stocks, cfds, futures, options, gold and silver for your personal investment and trading options.

ColmexPro.com
Mar-14-2019: CySEC has reached a settlement of EUR 50,000 with ColmexPro.com for possible violation. CLICK HERE to verify.
January 2018:  There is an FPA Traders Court guilty vote against this company.  The FPA recommends caution dealing with Colmex Pro until this issue is resolved.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 30:1
Minimum to Open Live: $2,000
Established: 2010
Address: 8 John Kennedy Street, Kanika Enaerios Complex, Iris House, office 440C-D, 4th floor, Limassol 3106, Cyprus
Contact: support@colmexpro.com, +1800-213-2170
Regional offices:
Regulators: CySEC #123/10, ACPR #73709, BaFIN #124339, FSB #46990, CMNV #2855, FCA #547535
Prohibited countries: Unknown
Trading platforms: MT4, WebTrader, Colmex Pro Multitrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (50+)
Cryptocurrencies:
CFD: (30+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Deposit Methods: Bank Wire, VISA, MasterCard
Withdrawal Methods: Bank Wire, VISA, MasterCard

Live discussion

Join live discussion of ColmexPro.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

1.69 · 14 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

South, Israel,
Jun 28, 2020,
Registered user

Service use: Live

Length of use: 3-6 Months

I am trading stocks with them, started during corona, service is good, withdrawal of profits was on time. 4, because trading platform is too simple for my taste.
 
Portugal,
Feb 20, 2019,
Registered user

Terrible broker stay away

In 10 years of trading i never see a broker like this, very bad experience.

I start trading with them 4 of December of 2018 the account opening was great my account manager contact me a few times by email and phone.
After i start trading and made some profits, day 28 January of 2019 all hell starts, i receive email saying this:
" Please be informed that following a check done by our compliance department, your account CFX....... is under review. During this period your account is suspended from trading and deposits or withdrawals.
You might be asked for additional information. We will update you as soon as the review is done. "

With this untill now nobody from the company contact me anymore and don´t reply to my emails. I filled the form to ask for the withdraw 2 weeks after that email, and almost a month pass and still don´t receive a single explanation.
This guys have my deposit of 10k more 4k profit, even the deposit that i made they don´t process the withdraw.

Last week i ask a friend of mine to open account with them and ask about the FPA reviews, they reply this to my friend:
" First, I understand your concerns, But, here is the truth and I hope you’ll understand. Unfortunately, ColmexPro has fallen victim to the deception of a group of financial criminals who have tried to ploy the trading system and generate profits through various fraudulence schemes. ColmexPro identified the unusual activity and immediately closed the clients’ accounts. Moreover, although it is clear that these customers are charlatans, ColmexPro returned their initial deposit amount, while of course excluding the fraudulent gains, which were accumulated in the short time that had passed until their fraud attempt was discovered. These customers are now squeezing ColmexPro (which was probably a part of their goal in the first place) with the threat that if they are not paid tens of thousands of dollars, they will continue to defame the company. As can be seen for years there was no complaint about ColmexPro being a reliable and recommended broker. Suddenly within the period of 3 days there are a variety of complaints in a variety of sites - obviously this is something artificial and an attempt to blackmail. You can see that all the complaints were submitted on the same month. Colmex chose not to respond or to confront these fraudsters at the sites themselves because it would only increase their strength and be exploited by them to demand higher extortion fees. "

I am none of the things they mention (financial criminals, fraudulence schemes, charlatans,fraudsters, etc.) and still i didn´t get my deposit back like they say in the email " ColmexPro returned their initial deposit amount " .
I have no intention to defame or blackmale anyone, i just want my money back.

Even this is a lie: " As can be seen for years there was no complaint about ColmexPro being a reliable and recommended broker. " , as all can see there are cases posted on late 2017 early 2018 describing similar situations.
Scam broker.
 
Poznan, Poland,
Feb 6, 2019,
Registered user

Do not open accounts with this broker.

Hi,

I have opened CFD account with Colmex on 01/11/19. On 24th of January 2019 I was unable to log into the trading platform. After emailing Colmex Pro support I was informed that my account is suspended for 48 hours due to review of my trading activity. On 25th of January I have send an email asking what are the details of that suspension. Colmex Pro replied on 28th of January stating that in accordance with the Regulation (EU) No 596/2014 some or all of my trading activity may fall within the definition of market abuse. I replied that I have only made 18 trades (36 tickets on 11 symbols) so it should be easy and fast to check if any of my trades fall into the above. Also mentioned that in my long trading career I have not changed my strategy and none other broker has blocked my account.

Last contact with the company was on 1st of February, but nothing solid from them:

"
Kindly note that the Company is putting all of its efforts to make the investigation process as fast and smooth as possible and will update you shortly with the further information needed or the outcome of the investigation in regard of the suspicions raised. At this point the Company does not have an accusation, but merely suspicion that needs to be checked.

Therefore, kindly consider yourself open for any assistance in the investigation if it will be needed to speed up the process. Any information provided by you will be treated with strictest confidentiality. "

I have send official complaint to them about it. According to https://www.cysec.gov.cy/en-GB/complaints/how-to-complain/ they did not give me a uniqe reference number. Moreover they did not even reply to my offical complaint.

Also I have send them withdrawal request. Wanted them to send me all the funds on my account and close it. They did the same, did not even reply to my email.

Finally I wanted to mention that from the start I was consistable with my strategy and gaining small profits.

More. Community discussion of this issue >>

 
Argentina, Argentina,
Jan 29, 2019,
Registered user

Colmex blocked my account after asking for withdrawal

I've been trading with Colmex since Nov 2016. Over two years now (Jan 2019).
My trading went well and I was able to make many thousands usd in profit.
So far I had made two withdrawals, one in Aug 2018 and one more at the begining of Jan 2019. No problem at all.
When I asked for the third withdrawal last week (end of Jan 2019), this is what I got:

"Please be informed that following a check done by our compliance department, your account CFX55232 is under review. During this period your account is suspended from trading and deposits or withdrawals. You might be asked for additional information. We will update you as soon as the review is done. "

There is nothing to investigate actually. I did not place a single trade from the last successful withdrawal. Most of the profit was made months/years ago.
Colmex has not responded my email nor updated the status of my account in one week since that notification.

It is for situations like this that most of us no longer trust Cyprus based brokers.
I'm willing to revise this rating if my profits are paid.
 
uk, United Kingdom,
Apr 26, 2018,
Registered user

There's s*** and then there's colmex

Do not trade with this company. No.1 FOREX, spreads are wide and on top charge commissions, you can easily find other brokers with virtually zero spread who chare a bit of commission or no commission with wider spread colmex have both.
NO2. After a trading day i was down around $60 no biggie, so i checked my trades next day on the internal site to find that i was down -$300 with an open position. I contacted support and eventually was sorted. (my question is what if i didn't check and bring it to their attention)
NO3. I requested a withdrawal (which you have to print a form out and fill it out by hand and send it to them) and state where i wanted the withdrawal to go. I asked it to go to the credit card i deposited from or my bank account. They sent a part of the payment to a card that i had deposited a year or so go that had been cancelled by me,(i did not specify i wanted payment to this card) i again have been in touch with support saying it iwll turn up , it will go to the account that is linked with this card (and i mentioned there is no account linked with this card)

GUYS PLEASE STAY AWAY .... i have pictures of all conversations and when i had the extra imaginary loss in my account if anyone does not believe me
 
Leeds, United Kingdom,
Jan 22, 2018,
Registered user

Colmex removed all my profits

I traded with Colmex Pro from January 2017 until September 2017. When I tried to withdraw my profits they accused me of using a third party to trade and then removed all of my profits.

Avoid like the plague!

Oct 24, 2017 - 1 Star I started Using Colmex around 9 months ago and once you read the below I don't think any reader of this will want to use them in the future.
Over the 9 months I made some profits of around Euro 9,000.
When I tried to withdraw some funds Colmex said they were looking into the account although no queries had been raised over the preceding 9 months.
Then after 21 days of me consistently chasing Colmex finally asked some simple questions all of which I answered.
Then after another week of me chasing Colmex they responded and had invented a convenient list of assumptions and incorrect conclusions from their assumptions and used this self created story to effectively 'stole' my profits by reversing them and returned my initial deposit to me. It is important to note that they provided no evidence for their assumptions nor conclusions. The couldn't as they were making it up.
Since then they have ignored all my e mails and still provided no evidence at all for their position. As I said earlier that is because they invented the excuse it to effectively 'steal' the profits.
Colmex treatment of this matter has been scandalous and I would recommend that you do not use this Broker.


 
Sofia, Bulgaria,
Dec 28, 2017,
Registered user

Issue escalated to Traders Court chitak vs colmexpro.com | RESOLVED
This is an update to my previous review. I want to say I've received my money from Colmex and am happy to report my problems with Colmex have been now all positively resolved. Colmex


The FPA is pleased to note that Chitak's issue below has been resolved.

Oct 23, 2017 - 0 Stars Beware of this broker, they confiscated all profits for no legitimate reason!
I deposited about 10000 USD into a Colmex account about 1 year ago, Jan 2017. I made a profit of nearly 3000USD when execution became much worse than it had been so I decided to withdraw all my funds, this all happened in the beginning of October.

Immediately after I submitted a withdrawal request Colmex sent me an email that they are blocking my account and will be investigating it. About 10 days later they emailed me asking some questions, there were questions about my strategy and if I use automated trading, and if anyone manages my account other than me. I answered that I trade with a newstrading EA and nobody other than me has access.

A few more days passed by and Colmex informed me that they have concluded my account is manged by a 3rd party which violates the contract and they confiscated my profit and returned my deposit back to my Skrill account. I did email them a couple times throughout the process and after but there were no replies, they simply ignored my emails.

Looks like the other posters were also 'scammed' by Colmex around the same time. Which makes me wonder if they just looked at whoever is profitable and just looked for ways to confiscate profits.
 
Netherlands,
Oct 25, 2017,
Registered user

Stealing profits after 8 months of trading.

Issue escalated to Traders Court hugo. vs colmexpro.com | GUILTY
After trading for 8 months, when I wanted to withdraw my funds, colmex decided to voide all profits I had made on the account. First, I received a message that my account was under investigation. Than they put me on hold for a month and finally they deleted all my profits with the excuse that my account had been managed by a third party.

They don’t have any ground that gives them the right to do this, it’s just insane.
First, there is no such thing as a third party that managed my account. I traded on my own behalf all the time. Second, they didn’t have any remarks about my trading for the whole period when I was an active client. Only when they see the money will leave the company (and they stop earning commissions from me) they decide to not pay up and steal the profits I’ve made.

I can only recommend to stay away from this company if you plan to make some money on the forex market.
 
Slovenia,
Oct 23, 2017,
Registered user

This broker steal clients profit

I also have bad experiences with Colmex Pro.

I have a trading account for them since the beginning of 2017. Initially, I was pleased with my service and I thought they were serious brokers because they are regulated with the EU, and besides MT4, they also offer advanced trading platforms (Colmex Pro Trader).

After more than 190 average markets, which I carried out this year, I did a good job in September and I became profitable. It looks like Colmex Pro does not like this, they cancel all my profits and break my trading account.

I sent 5 emails between September 28, 2017 and October 13, 2017, but they did not answer one. They steal customers a lot of profitable profits and after they defend themselves with silence. Shame on Colmex Pro and with your behavior to the dealer. I will sue the prosecutor against this agent.
 
Czech Republic,
Oct 23, 2017,
Registered user

Bad working whit ColmexPro!!!

Hi I would like to share my experience by working whit ColmexPro. After 8 months of work, I tried to withdraw my money. As a result my account was blocked for 1 month without explanation. After the end of the month my funds were transferred to my account,but whitout profits.In my opinion,it make no sense to invest in a broker from you cannot get your earned money.