CMCbits-Some important Details about This Broker

Since CMCbits official website (https://cmcbits.com/) is now unavailable, we had to piece together as much information as possible on this brokerage house as a forex broker from other sources.

General Information

Established in 2022, CMCbits is an offshore forex broker registered in Saint Vincent and the Grenadines, with the company behind it not disclosed to all.

CMCbits claims to offer six trading accounts for clients to choose from, with leverage up to 1:400, which is a typical tactic used by many offshore forex brokers to attract new investors.

As far as we can tell, CMCbits is not governed by any regulatory authorities, thus that bit of data is settled. As a result, its regulatory status on WikiFX is classified as “No License” and it only manages a score of 1.08 out of 10 overall. Don't be oblivious to the potential danger.

Account Types

CMCbits offers a total of six tiered trading accounts to suit its clients‘ different trading needs. However, the strict minimum initial deposit requirements and seemingly generous leverage offered all indicate that it just wants to extract investors’ available funds at the very first and then disappear.

Let‘s disclose its account setting now, with the so-called Self-managed account, investors need to fund at least $250, acceptable yet much higher than their peers’ requirements. From the Basic account, the minimum deposit soars to $5,000, with the Gold account from $10,000, the Platinum account from $25,000, and the Diamond account from $50,000.

Leverage

CMCbits allows traders to use so-called generous leverage of up to 1:400, which is much above the levels considered appropriate by the vast majority of regulators. Offering high leverage is just a typical tactic employed by most offshore and unregulated brokers to attract investors to jump into their traps.

Customer Support

CMCbits reported its phone number and email address for clients who have any inquiries to get in touch with them.

Telephone: +442080895446

Email: support@cmcbits.com

However, since this is an unregulated forex broker, investors should be wise to stay away from it.

Risk Warning

There is a considerable degree of risk involved with online trading of leveraged Forex and CFD instruments, and as a result, it may not be appropriate for all investors.

Please keep in mind that the data presented in this article is meant to serve as a guideline only.