Colmex Pro review

Introduction

Colmex Pro is a Cyprus-based stock CFD and equities broker that provides traders with various trading platforms, including MT4 and MultiTrader. With thousands of registered clients, Colmex Pro has established itself as a professional trading broker that caters to traders of all experience levels.

Colmex Pro has a transparent and sincere operating structure. As a regulated Forex broker under the CySEC in Cyprus, Colmex Pro is held to the highest regulatory compliance standards. This means you can trade confidently, knowing that a respected regulatory environment protects your investments.

Colmex Pro also offers a range of trading and investing services that have totaled billions in volume for thousands of clients worldwide. Many Europeans have come to appreciate Colmex Pro’s ability to trade on the USA stock markets and its Investor Compensation Fund (ICF) membership. This ensures that your investments are protected, no matter what happens in the markets. This Colmex Pro review aims to show you all about the Broker platform.

Supported Countries

Colmex Pro is a global trading and investing service provider that caters to a wide range of countries worldwide. They accept traders from Israel, India, the United States, Hungary, Greece, Spain, Indonesia, Germany, Canada, Australia, Thailand, Canada United Kingdom, South Africa, Singapore, Hong Kong, France, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and many other countries.

However, in certain countries, the Broker is not authorized to offer its services due to regulatory restrictions or other legal limitations. As a result, Colmex Pro cannot accept clients from certain countries, including Syria, North Korea, Iran, Sudan, and Cuba.

Customer Service Rating

Colmex Pro has an impressive rating on Trustpilot, with 82 reviews and an excellent score of 4.4 stars out of 5. Many traders raved about how easy it was to connect with support and the high level of expertise presented by the support team. They also praised the platform’s pricing and execution, making it an ideal choice for day traders who need reliable performance.

Regarding the platform itself, traders loved the great charts and user-friendly interface, making it easy to navigate and execute trades quickly and efficiently.

However, some reviewers mentioned that the initial Deposit required to open an account with Colmex Pro is quite high. This may concern traders who are just starting and have limited investment funds.

Colmex Pro Trading Platforms

Colmex Pro knows that every trader is different and has unique trading needs. That’s why the Broker firm offers a range of platforms, including its proprietary platform Colmex Pro 2.0, MetaTrader 4, and Colmex Pro MultiTrader.

• Colmex Pro 2.0: This is perfect for both beginners and seasoned professionals. With its highly customizable interface, traders can easily switch between simple charting and advanced analytical tools. It’s packed with features, including Level 2 data from a Super DOM panel (Depth of Market), 14 chart styles (such as Heiken Ashi and Cluster charts), 47 chart indicators, custom indicators, advanced order types, hotkeys, real-time stock screeners, and stock market history.

• MetaTrader 4 platform: MT4 is known for its advanced technical analysis tools and is accessible to Windows and Mac users. You can place various orders on this platform, including market and pending orders, instant execution, stop orders, and trailing stops. You can also access interactive charts with 9 time periods, 23 analytical objects, and 30 built-in technical indicators. Additionally, traders can subscribe to signals and copy trading or hire algorithmic robots from the MetaTrader Market.

• Colmex Pro MultiTrader: This platform comes with several advanced features, including low-latency and real-time data, order routing technology, Level 2 quotes for equities and options, basket trades, and much more. Traders also get access to a list of the top 20 and worst 20 performers, updated in real-time. You can download MultiTrader from our website or access it via the convenient web trader version.

Trading Denominations on Colmex Pro

Regarding trading on Colmex Pro, the platform offers a choice of USD and EUR denominations. This means that you can choose to trade using either of these currencies, depending on your preference and the trading instruments available on the platform.

Company Structure

Colmex Pro has a decade-long track record of excellent service, helping thousands of investors worldwide. This Broker comes with an average order execution time of just 31 milliseconds. You can be sure your trades will be delivered to the market quickly.

Owned and operated by Colmex Pro Ltd: The Broker is located in Limassol, Cyprus, capitalizing on Cyprus’s advantages in the international business arena as a highly regulated jurisdiction. Colmex Pro’s head offices are conveniently located in Europe, operating under European Union jurisdiction. This enables it to provide its clients with a transparent and trustworthy yet lucrative structure in a respected environment.

Also, Colmex Pro is regulated by the CySEC in Cyprus under the MiFID derivatives of the European Union. Over the years, the platform has amassed an impressive number of registered clients, many of whom have rated Colmex Pro highly indifferent reviews. However, there seems to be no information about any official awards the Broker has received on its homepage.

Colmex Pro Licenses and Regulatory Compliance

Colmex Pro is fully licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 123/10. This means the company follows the European financial authorities’ strict regulatory standards.

In addition to that, Colmex Pro is also authorized as a Financial Services Provider with licensing number 46990 by the Financial Services Board in South Africa. This additional regulation ensures that Colmex Pro adheres to the high standards of financial oversight set by South Africa’s financial authorities.

Colmex Pro Customer Protection

With Colmex Pro, you can rest assured that your personal and financial information is protected. The platform uses standard SSL-encrypted security features and offers 2FA login options to ensure that all data exchange between client and broker servers is secure.

Colmex Pro also guarantees the protection of client deposits placed in European banks and the protection of transactions from outside interference. Additionally, some regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients’ financial losses, providing an extra layer of security for your funds.

Customer Service

The Colmex Pro customer support team is available from Monday at 07:00 to Friday at 20:00 (GMT), which means they are open during most trading hours. This availability is a big plus for traders needing assistance anytime during the week. They offer multilingual support through email, telephone (+357 25 030036), live chat, and even WhatsApp. Alternatively, you can use their live chat service to respond more instantly.

In addition to these standard customer support channels, Colmex Pro offers remote support for technical issues within their trading platform. Colmex Pro offers customer support via WhatsApp, a convenient and popular messaging app millions worldwide use.

Trading Information

Colmex Pro has forex, spot metals, and crude oil operating times. Forex trading is available 24 hours daily from Sunday at 22:00 to Friday at 21:00 (GMT) on the MT4 platform. Meanwhile, spot metals and crude oil trading sessions begin on Sunday at 22:05 and end on Friday at 21:00 (GMT).

The CFD and stock trading commission rates depend on your Colmex Pro account level. CFD trading commissions range from $1.50 to $9.95 per trade, while stock trading commissions range from $4 to $9.95. For VIP account holders, the Colmex Pro spreads start from 0.9 pips for the ECN Account, which is very competitive. The Standard account has a slightly larger spread starting at 1.7 pips, which could increase significantly depending on market conditions. The commission for the Standard account can go as high as $8 per round lot.

It’s important to note that other costs may apply to your trades. For example, an overnight daily margin interest rate of 0.026% and a 0.5% penalty for unauthorized balances over 1:2 on the client’s opened-to-trade balance. However, please note that the company reserves the right to occasionally change any of these prices/fees.

Colmex Pro Leverage

Colmex Pro offers its clients a range of leverage options depending on their account type and the financial instruments they trade. The maximum leverage for retail clients trading stocks is 1:5, while professional clients can access up to 1:20 leverage. Forex instruments have a higher leverage option of up to 1:30. The maximum leverage offered by Colmex Pro is up to 1:30, which may vary depending on market conditions and regulatory requirements.

Deposits and Withdrawals

Deposits

Colmex Pro makes it easy and hassle-free to fund your trading account so you can start trading right away. The Broker offers a couple of convenient options for funding your trading account. You can use credit/debit cards, bank transfers, and even online payment methods like PayPal. Colmex Pro does not charge any fees for deposits.

Remember that wire transfers can take 3-5 business days to process. However, if you opt for credit card deposits, you can expect your funds to be processed within 24 hours, often within just two hours after the Deposit is made. It’s important to note that if you accidentally send funds to the wrong currency account, they will be automatically converted to the currency of your account at the bank’s rate.

Withdrawals

When withdrawing funds from your Colmex Pro trading account, there are a few things to keep in mind. Firstly, the first transaction of the month equal to or less than $500 is free of charge. However, any additional withdrawals made during that month will incur a fee of $40 (or €30 if you have a Euro account).

You can choose from several options to withdraw funds, including Visa, MasterCard, and PayPal. Unfortunately, the website doesn’t detail other available withdrawal methods.

Colmex Pro Trading Education and Training

Colmex Pro’s website currently does not have a dedicated training section for its users. However, the Broker offers a free demo account, a great tool for traders to practice their skills and strategies without risking their funds. Unfortunately, there are no other educational materials available on the platform. This means traders looking for additional resources or guidance may need to look elsewhere.

Conclusion

Colmex Pro is a forex broker that offers various trading instruments, including forex, stocks, and commodities. The Broker provides traders with multiple trading platforms, including their proprietary Colmex Pro 2.0 trader, MetaTrader 4, and MultiTrader.

One of the most significant advantages of trading with Colmex Pro is that they are a regulated broker. They are licensed by the Cyprus Securities and Exchange Commission (CySEC), a respected regulatory authority in the financial industry. However, Colmex Pro does have its drawbacks. One of them is that they do not offer any educational materials or resources for traders to improve their trading skills.

On the other hand, Colmex Pro has a robust customer support team that is available to assist traders during trading hours. They offer various communication channels, including email, telephone, and live chat, and their support team is multilingual.