Colmex Pro

Note: Colmex Pro's official website: https://colmex24.com/eu/ is currently inaccessible normally.

Colmex Pro is an offshore broker which illegally uses the name of a regulated broker —Colmex Pro. It offers trading on Indices, Commodities, Bonds, Forex with a extremely high minimum deposit requirement of $2000.

Pros and Cons

Is Colmex Pro Legit?

Colmex Pro exceeds the business scope regulated by Financial Sector Conduct Authority FSCA (license number: 46990) in South Africa.

Besides, the Cyprus Securities and Exchange Commission (CYSEC) regulation (license number: 123/10) claimed by this broker is suspected to be clone.

What Can I Trade on Colmex Pro?

Account Type

The minimum deposit with the broker is $2000 for a “Basic” account. This is a very high investment for a forex account.

Colmex Pro Fees

The commissions listed on the Colmex Pro website are extremely high – for the Basic account, a fee of $14.5 per contract per side is listed for the currency trading.

Colmex Pro also charges monthly inactivity fees – from $30 to $55 depending on the account type. And these fees are imposed after just 30 days of inactivity.

In addition, the Colmex Pro website describes a number of additional fees that do not exist with legitimate brokers. These include, for example, the “Corporate Action Fee” of $5. According to information given on the website, a client is also required to pay a dividend if he maintains a short position in a companys stock.

Deposit and Withdrawal

The only payment method mentioned on the website is bank transfer. Colmex Pro mentions that it does not charge fees for bank transfer deposits, and for withdrawals of less than $500. For higher amounts, the withdrawal fee is $40 or €30.