Colmex Pro Forex Trade Platform and Broker Review

Colmex Pro Forex Trade Platform and Broker Review

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ColmexPro Broker Review

Colmex Pro is an experienced and amazing online broker that was founded in 2010 in Cyprus. Colmex Pro is a financial asset management firm that offers the trade of forex and CFDs to both retail and institutional clients from around the world.

Colmex Pro is headquartered in Limassol, Cyprus, with offices in South Africa and across Europe, with more than 100 employees.

Is Colmex Pro Regulated?

Yes, Colmex Pro is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA) . According to the Colmex Pro website, the broker has the necessary regulation for a cross-border license that provides Colmex Pro with the authorization to offer investment and ancillary services.

As per the requirements of CySEC and FSCA regulation, Colmex Pro is obligated to keep client funds in segregated accounts, away from its own operational funds.

Is Colmex Pro Regulated in the United States?

No, Colmex Pro is not regulated in Virginia or any other US state. 

Is Colmex Pro Regulated in Europe?

No, Colmex Pro is not regulated in Europe according to the official website.

Is Colmex Pro regulated in a Tier-1 Jurisdiction?

Tier-1 Jurisdiction provides Colmex Pro with the license to provide financial services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

According to the official Colmex Pro website, Colmex Pro is not regulated in a tier-1 jurisdiction.

Is Colmex Pro regulated in Tier-2 Jurisdiction?

Tier-2 Jurisdiction provides Colmex Pro with the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

According to the official website, Colmex Pro is regulated in Tier-2 jurisdiction.

What are the Platforms and Tools for Forex Trading in Colmex Pro?

Colmex Pro offers forex traders a choice in three different trading platforms that can be used for trading namely MetaTrader 4 and Colmex Pro MultiTrader.

  1. The Colmex Pro MetaTrader 4 is a powerful and popular trading platform that offers forex traders some of the most sophisticated trading technology in the industry. MetaTrader 4 offers Forex traders with charting and analytical capabilities in addition to multiple order management, automation of strategies, and access to Expert Advisors (EAs).
  2. Colmex Pro MultiTrader is a simple and user-friendly trading platform that offers a comprehensive solution to daily challenges faced with online trading by offering institutional-grade technology. With this trading platform, forex traders have access to real-time data, level-II quotes, the ability to route orders, and more.

Does Colmex Pro Have a News Blog for Forex News?

Yes. Colmex Pro offers a free news blog for forex news on the official website. The news blog can be accessed free of charge and offers updated news and market insights that can help direct the trading decisions of forex traders based on accurate information.

Does Colmex Pro Have a Traders Dashboard?

Yes, Colmex Pro has a forex traders Dashboard in the form of market data that can be accessed on the official website.

Does Colmex Pro Have an Educational Section?

No, Colmex Pro does not have an education section. 

Is Colmex Pro Legit?

Yes, Colmex Pro is a legit Forex Broker and Trade Platform that is regulated and authorized by CySEC and the FSCA.

Is Colmex Pro Safe?

Yes, Colmex Pro is a reliable and safe Forex Trade platform where strict regulatory and security protocols are concerned. Colmex Pro is regulated by reputable entities including:

  • The Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
  • The Financial Sector Conduct Authority (FSCA) in South Africa.

Colmex Pro ensures client fund security by keeping funds in segregated accounts with top-tier banks, separate from operational funds.

Is Colmex Pro a Good Broker?

Yes. According to a Forex Suggest review done on the broker, Colmex Pro is a good broker for security, trading speed, online support, but not for cryptocurrencies as these are not offered as per the official Colmex Pro website.

  1. Security is provided through strict and reputable regulation with FSCA and CySEC in addition to Colmex Pro using stringent security protocols on its website to encrypt data, information, and transactions.
  2. In terms of trading speed, Colmex Pro claims that the average execution time per order is 31 milliseconds, with more than 4 billion shares traded through Colmex Pro.
  3. In terms of online support, Colmex Pro offers a live chat option that is available on the website.

What is the Offering of Investment in Colmex Pro?

Offerings of Colmex Pro can be found below.

Feature Colmex Pro
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  No

Does Colmex Pro have Nasdaq?

Nasdaq is the US stock exchange that tracks the top technology stocks in the United States.

According to the official Colmex Pro website, the broker does not offer Nasdaq.

What are the Awards of Colmex Pro?

According to official sources along with forex trading platforms, Colmex Pro does not have any awards listed from its date of inception to date.

How to Use Colmex Pro for Forex trading?

To use Colmex Pro, a forex trader should have the necessities below:

  1. forex traders must be 18 years or older.
  2. forex traders must have a copy of their ID as well as proof of residence.
  3. forex traders must be able to afford the minimum deposit of $500.

Once a forex trader meets the conditions above, they can register a forex trading account to use the services of Colmex Pro.

How to open a Forex trader account with Colmex Pro?

To open a Forex Trading account with Colmex Pro, a trader should follow the steps below.

  1. Forex traders can visit the official website and select “Open an Account”.
  2. Forex traders must provide their email addresses and select “Start Now” to begin the application process.
  3. Forex traders must complete the required fields by providing their first and last name, date of birth, country of residence, and mobile phone number.
  4. Forex traders must provide further personal information and complete their financial and employment information before completing a questionnaire on their trading experience.
  5. The last step is for forex traders to verify their identity and residential address.

What are the Forex Trader Account Types with Colmex Pro?

Forex Trading Platform and Financial Asset Management Institution Colmex Pro have 6 different account types that are offered.

Colmex Pro Account Types are listed below. 

  1. Demo Account

  2. Live Equities/CFD on Equities Account

  3. Forex and Commodities Account

  4. Semi-Standard Account

  5. Standard Account

  6. VIP Account

  • Demo Account

Colmex Pro offers forex traders a free demo that can be used for practice trading, testing strategies, or exploring the broker’s offering in a risk-free environment while using virtual funds.

  • Live Equities/CFD on Equities Account

This account type is designed specifically for forex traders who only want to trade stocks and CFDs. This account features the following:

  • Maximum leverage of 1:5.
  • A minimum deposit of $500 for CFD Accounts.
  • A minimum deposit of $3,000 for Equities Accounts.

 

  • Forex and Commodities Account

This account offers forex traders the opportunity to trade in the forex market and features the following:

  • Spreads from 0.3 pips.
  • Access to market-depth
  • Access to telephonic trading.
  • Access to a variety of forex pairs, commodities, and more.

 

  • Semi-Standard Account

Which provides forex traders with access to forex and commodities through the MetaTrader 4 platform.

  • Standard Account

Which offers forex traders access to the forex market with reduced commissions on trades.

  • VIP Account

This account offers professional forex traders with competitive trading conditions. This account is designed for forex traders who trade high volumes frequently and who therefore need the best possible pricing.

How to Withdraw Money from Colmex Pro?

To withdraw money from Colmex Pro, the following should be done:

  • Forex traders can visit the Colmex Pro website and select “Withdraw Funds”.
  • Forex traders can enter their trading account number, ID or Passport number, and email.
  • Forex traders will be redirected to a digital request that they must complete and submit to Colmex Pro customer support for processing.

How many days do deposits take with Colmex Pro?

Depending on the payment method used, deposits can be instantaneous or take up to a few days to process.

What are the costs and fees with Colmex Pro?

There are four types of costs with Colmex Pro namely spreads, commissions, swap fees, and margin requirements. 

Spreads are indicated in pips and it is the difference between the bid/ask price. Commissions are typically charged as a flat fee per lot or per side traded. Swaps are charged or credited depending on whether forex traders have a long/short position open after trading for the day concludes.

Margin requirements are what the Colmex Pro requires as collateral when the trader opens a position.

What are the Trading Fees with Colmex Pro?

Forex trading fees in Colmex Pro are below.

  1. CFD Trading ranges from $1.50 to $9.95 per trade.
  2. Stock Trading fees range from $4 to $9.95.
  3. Commissions on the Standard Account range from $0 up to $8 per round turn.
  4. Spreads the Standard Account start from 1.7 pips.
  5. The daily margin interest is 0.026%.
  6. There are penalties of 0.5% for unauthorized balances over 1:2 of the trader’s open position.

What is the minimum deposit in Colmex Pro?

The recommended minimum initial amount is 500 USD. 

What are the contract specifications in Colmex Pro?

Feature Colmex Pro
Forex Trading Yes
CFDs 50+
Forex Pairs 50+
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 0
Social Trading  No

Does Colmex Pro have promotional offers?

No, Colmex Pro does not have promotional offers.

The official Colmex Pro website does not show a history of promotions and nor does it suggest any that are being planned.

Does Colmex Pro have a welcome bonus?

No, Colmex Pro does not have a welcome bonus.

Forex traders who register a real account for the first time are often offered a welcome bonus. It provides them with trading credit that can be used but is non-withdrawable until certain conditions have been met.

Does Colmex Pro have a deposit bonus?

No, Colmex Pro does not have a deposit bonus.

Deposit bonuses are offered to forex traders on their initial deposits when they register a new account, or with every deposit following the initial deposit, depending on the discretion of the broker.

Is there a commission-free trade bonus in Colmex Pro?

No, Colmex Pro does not offer forex traders a commission-free trade bonus.  

The Colmex Pro official website does not offer information on any past or future commission-free trade bonuses.

Is there a VIP bonus in Colmex Pro?

No, Colmex Pro does not offer forex traders a VIP bonus.

Can you start trading with no money at Colmex Pro?

No, you cannot start trading with no money at Colmex Pro. To start trading with Colmex Pro, you must pay the minimum deposit of $500.

How does leverage work with Colmex Pro?

Leverage is a useful tool that Colmex Pro offers its clients. This allows them to open larger positions despite their initial deposit, allowing them to maximize their potential profits. 

Colmex Pro offers leverage of up to 1:30.

Where are the headquarters of Colmex Pro?

Colmex Pro is headquartered in Limassol, Cyprus.

Who is Colmex Pro’s CEO?

There is no official source providing this information on Colmex Pro.

What are the social media accounts of Colmex Pro?

forex traders can follow Colmex Pro on the following social media accounts:

  • Facebook
  • Twitter
  • LinkedIn

How many employees do work for Colmex Pro?

There is no official employee compliment available, however, due to the operation size of the broker, their employee compliment can vary from 100 employees and higher.

What are the opinions about Colmex Pro?

Colmex Pro is a well-regulated broker, however, there are controversial reviews regarding how informative the broker website is, and this brings into question the transparency that it has with regards to information, fee schedules, and its overall offering.

What are Colmex Pro Contests?

Colmex Pro does not run any contests.

Colmex Pro does not currently have any contests and there are no updated announcements on the official websites that indicate whether there will be contests held in the future.

Does Colmex Pro have online support?

Yes, Colmex Pro offers online support through a live chat option on the website. Live chat is available 24/5 and responses by support agents are prompt and informative.

Does Colmex Pro offer demo accounts for Forex trading?

Yes, Colmex Pro offers a free demo account for all new forex traders. The demo account can be opened with the following steps:

  1. Forex traders visit the official website of Colmex Pro and select “Free Demo”.
  2. Forex traders can provide their full name, email, country of residence, and mobile number and select “Start the Demo”.
  3. Forex traders will be contacted by a Colmex Pro representative regarding their demo account once their information has been processed.

Does Colmex Pro have a mobile app for Forex trading?

Yes, Colmex Pro offers a mobile app for forex trading.

The Colmex Pro mobile app offers forex traders access to a variety of stocks, ETFs, ADRs, and more financial instruments. forex traders can access their trading account through the app, monitor their account balance, risk level, and several other details.

Does Colmex Pro publish an economic calendar?

Colmex Pro does not offer an economic calendar on its official website to forex traders.

An economic calendar is a vital tool in trading that offers forex traders updated information on economic announcements and releases. Events such as these may affect the financial markets and the trading activities of various forex traders.

What is the communication information of Colmex Pro?

Colmex Pro has one main telephone number and one main business address.

Colmex Pro’s telephone number is: +357 25 030 036

Colmex Pro’s main business address is 8 John Kennedy Street, Kanika Enaerios Complex, Iris House, Office 440C-D, 4th Floor, Limassol 3106, Cyprus.