CXM

CXM is an online forex and CFD broker registered in the United Kingdom, founded on 22 September 2020. The broker operates under the official domain cxm.com and is part of a group of companies with regulatory oversight from multiple jurisdictions. It offers a range of trading instruments including forex, metals, CFDs, cryptocurrencies, and stocks, catering to both retail and institutional clients.

According to aggregated industry data, CXM maintains a low scam risk score of 10 out of 100, indicating a relatively low risk profile. The broker's registered address is in St. Vincent and the Grenadines, a common jurisdiction for forex brokers, though its operational headquarters and primary regulation are in the UK.

CXM holds three regulatory licenses. The Financial Conduct Authority (FCA) in the United Kingdom regulates CXM for Institutional Market Making (MM) with a status of 'Regulated'. The Financial Services Commission (FSC) in Mauritius grants a Securities Trading License (EP), also regulated. Additionally, the Financial Services Authority (FSA) in Seychelles provides a Derivatives Trading License (EP), classified as offshore regulation.

It is important to note that while the FCA license is for institutional market making, retail clients may be served under the other licenses with different levels of regulatory protection. The presence of multiple licenses suggests a multi-entity structure, which is common among brokers operating internationally.

CXM offers five distinct account types to accommodate different trading styles and capital levels. The ECN account requires a minimum deposit of $100 and offers unlimited leverage, suitable for high-volume traders. The CENT account is designed for beginners with a $10 minimum deposit and leverage up to 1:2000. The STANDARD account starts at $50 with unlimited leverage, while the ZERO account requires $1,000 and offers leverage up to 1:1000.

For institutional or high-net-worth clients, the FIX API account requires a $50,000 minimum deposit and offers leverage up to 1:300 for FX, gold, and silver. All accounts support EA trading, scalping, and hedging, with a minimum lot size of 0.01 for forex trades. Margin call and stop-out levels are set at 120% and 30% respectively.

CXM provides access to forex, metals, CFDs, cryptocurrencies, and stocks. The exact number of currency pairs exceeds 60, covering major, minor, and exotics. While the website does not specify platform names explicitly, the broker's STP/ECN model suggests compatibility with MetaTrader 4 or 5, which are industry standards for such brokers.

Instruments include not only forex but also precious metals like gold and silver, cryptocurrency CFDs, and equity CFDs. The broker emphasizes ultra-low spreads and fast execution, with no dealing desk intervention claims.

CXM promotes instant deposits and withdrawals with zero deposit fees. The broker offers swap-free accounts, which are particularly appealing for traders following Islamic principles. Overnight swap fees are stated as 'No' for at least one account type, though this may vary by instrument.

The leverage policy is dynamic, adjusting based on account equity. Leverage can range from 1:Unlimited for certain accounts to 1:2000 for others. The broker also offers fixed leverage for the FIX API account up to 1:300.

While CXM initially appears as a B2B STP/ECN broker, its account structure with low minimum deposits ($10 for CENT) clearly targets retail traders. The availability of swap-free accounts, support for EAs and scalping, and multiple leverage options cater to a broad range of trading strategies.

The broker is also suitable for institutional clients through its FIX API account and high leverage options. However, the relatively high-risk leverage offerings (unlimited) mean that the broker may attract more speculative traders.