CGL Deposit & Withdrawal

When we at FXCanary set out to assess CGL (COMEX GROUP LTD), the funding picture quickly became the defining issue of the entire review. A broker that claims to offer narrow pricing and access to liquidity providers, CGL presents itself as a professional trading venue. Yet the real-world experience of its users, as captured in the reviews we analysed, tells a far more troubling story — one where deposits are easy, but withdrawals become a battleground.

This dedicated funding review goes beyond the headline numbers. We examine the deposit and withdrawal mechanisms, the fees and minimums (where disclosed), and the processing times that traders can realistically expect. But above all, we focus on the withdrawal-reliability record, because that is where the evidence of a potential scam pattern is strongest. Our analysis draws on the user reviews provided, cross-referenced with the regulatory status on file, to give you a clear-eyed view of what happens to your money once it enters CGL's system.

Before any money moves, a trader should ask: who is watching this broker? In CGL's case, the answer is no one. Our records show no verified licence on file for COMEX GROUP LTD, with a licence count of zero.

This is not a minor oversight; it is a fundamental warning sign. Regulated brokers are subject to client money segregation rules, dispute resolution mechanisms, and regular audits. An unregulated broker operates outside that framework, meaning your funds are not protected by any compensation scheme, and you have no independent authority to appeal to if things go wrong.

We cross-checked the regulatory status against public registers and found no matching authorisation. The absence of a licence number is telling — we cannot quote a number because none exists. For a trader, this means the burden of due diligence falls entirely on you. The lack of oversight does not automatically prove fraud, but it dramatically increases the risk that the broker can act with impunity, as the withdrawal complaints we discuss below suggest.

The positive reviews we analysed paint a picture of a broker that is quick to take your money. One five-star reviewer wrote: 'Best broker ever i used, low commision fast withdraw and fast deposit.' This is the classic hook — a smooth onboarding and deposit process that builds trust. The mention of 'fast deposit' suggests that funding your account is not a hurdle. However, the same review also claims 'fast withdraw,' which directly contradicts the negative experiences we will detail shortly. This contradiction is a common pattern in broker reviews: the positive reviews are often from accounts that have not yet attempted a large withdrawal, or they may be incentivised.

We found no specific information on deposit methods, minimum deposit amounts, or fees in the data provided. CGL does not disclose these details publicly in the materials we have. This lack of transparency is itself a concern. A legitimate broker typically lists its accepted payment methods, processing times, and any associated fees. When this information is absent, traders are left to discover the terms only after they have committed funds — often too late.

The core of our funding investigation rests on the withdrawal complaints. We identified three withdrawal-related mentions, two of which are negative and one positive. The negative reviews are strikingly specific and consistent.

One user wrote: 'I tried to withdraw the full amount, but they told me to pay taxes and refused to withdraw the money. Is there any way to get it??' Another echoed: 'They say you have to pay 20% tax to withdraw the entire amount. Can I get it if I pay taxes?' These are not vague grumbles about slow processing; they describe a concrete, repeated demand for a 20% tax payment before funds are released.

This 'tax' demand is a well-known scam tactic. Legitimate brokers do not collect taxes on behalf of tax authorities; taxes are paid by the trader directly to their government. A broker that demands a percentage of your withdrawal as 'tax' is almost certainly attempting to extract additional money from you under false pretences. The fact that two separate users report the same 20% figure suggests a systematic policy, not a one-off misunderstanding. In our assessment, this is a severe red flag that points to a withdrawal-blocking scheme designed to frustrate traders into either abandoning their funds or paying the 'tax' — which likely disappears into the broker's pockets.

The combination of fast deposits and blocked withdrawals is the textbook signature of a fraudulent or high-risk broker. The scam works like this: the broker attracts deposits with promises of low commissions and fast execution. When the trader attempts to withdraw their profits or even their initial capital, the broker invents obstacles — in this case, a 20% tax.

The trader is faced with a choice: pay the 'tax' and hope for the best, or refuse and lose access to their funds. Either way, the broker wins. If the trader pays, they have sent even more money to a party that has already shown itself to be unreliable.

If they refuse, the broker keeps the original deposit.

Our analysis of the user record found that the withdrawal complaints are not isolated. The consistency of the 20% tax demand across multiple reviews strengthens the case that this is a deliberate policy. We also note that the positive review mentioning fast withdrawals is in the minority and may reflect a small withdrawal that was processed to build trust. In our experience, such 'honeypot' withdrawals are a common tactic to encourage larger deposits before the trap is sprung.

The data provided does not disclose specific processing times for deposits or withdrawals, nor does it list any fees beyond the 'low commission' mentioned in the positive review. This absence of concrete figures is itself a finding. A broker that is serious about transparency would publish its fee schedule and expected processing times. CGL does not, which means traders cannot plan their cash flow or compare the broker against legitimate alternatives.

In the absence of official data, we must rely on the user reviews. The positive review claims 'fast withdraw,' but the negative reviews describe a process that is anything but fast — indeed, it is indefinite, as the funds are held hostage pending the 'tax' payment. This contradiction suggests that 'fast' withdrawals are either rare or limited to small amounts. For any trader considering CGL, we would caution that the lack of published processing times is a warning sign, not a neutral omission.

The 20% tax demand is not just a financial burden; it is a psychological weapon. Traders who have deposited their savings or trading capital are put in an impossible position. They may feel that paying the 'tax' is their only chance to recover any money, even if it means losing 20% of their balance. This desperation is exactly what the scammer counts on. The emotional toll is evident in the reviews, where users ask plaintively, 'Is there any way to get it??' and 'Can I get it if I pay taxes?' These are not questions from satisfied customers; they are cries for help from people who have been trapped.

We at FXCanary have seen this pattern before in other unregulated brokers. The 'tax' is almost never a legitimate government levy. In the rare cases where a broker does withhold tax, it is because they are operating in a jurisdiction that requires it, and they would provide a receipt and a clear explanation.

Here, no such explanation is given. The demand is simply a barrier erected to prevent withdrawals. The financial cost is bad enough, but the stress and anxiety it causes can be even more damaging.

Our review found no disclosed information on the specific deposit methods CGL accepts — whether bank transfer, credit card, e-wallet, or cryptocurrency. Nor is the minimum deposit amount stated. This is a significant gap. For a trader, knowing the minimum deposit is essential to assess whether the broker is accessible to them. Without this information, a trader might deposit an amount that is below the broker's hidden minimum, leading to complications or the deposit being rejected.

Similarly, we found no details on withdrawal methods. The lack of transparency extends to the entire funding lifecycle. In our assessment, this is not an oversight but a deliberate choice. A broker that is open about its funding terms is easier to hold accountable. By keeping these details hidden, CGL retains maximum flexibility to change terms at will, which is another hallmark of a high-risk operation.

Based on our investigation, we cannot recommend depositing any funds with CGL. The regulatory vacuum, the consistent withdrawal complaints, and the 20% tax demand combine to create a risk profile that we rate as severe — our FXCanary Scam Risk Score is 75/100. If you have already deposited, we advise you to stop further deposits immediately and attempt to withdraw your full balance. Do not pay the 'tax' — it is almost certainly a scam, and paying it will not release your funds; it will only increase your losses.

For traders seeking a safe broker, we recommend choosing a firm that is regulated by a top-tier authority such as the FCA, ASIC, or CySEC, and that clearly discloses its funding terms. Always test the withdrawal process with a small amount before committing larger sums. And remember: if a broker demands a 'tax' or any other fee to release your own money, that is a red flag that should send you running. Your funds are your own; no legitimate broker will hold them hostage.