About the company
Since 2010, Colmex Pro has provided private and institutional clients with access to over 9,000 US equities. The Cyprus Securities and Exchange Commission and the South African Financial Sector Authority govern the broker, which is situated in Limassol, Cyprus (FSCA).
The broker has over 8,000 registered customers who have exchanged over 4 billion shares on the various trading platforms accessible since it was founded. For varying degrees of experience, the broker also offers graded and fixed account options.
- The broker’s own platform is appropriate for both novices and seasoned experts. The platform has a fully customizable user interface that allows both basic graphing and complex analytical capabilities.
- For experienced traders, the broker’s MultiTrader platform provides a sophisticated institutional-grade platform. Low latency and real-time data, order routing technology, level 2 quotations for stocks and options, and basket trades are among the platform’s straightforward and advanced features. Users can also view a list of the best and worst performers, which is updated in real-time.
- The most widely used Forex trading software, MT4, provides advanced technical analysis. Market and pending orders, instant execution stops, and trailing stops are available to both Windows and Mac users, depending on their strategy. There are also nine time periods of interactive charts, as well as 23 analytical objects and 30 built-in technical indicators.
There are three mobile apps for all of its platforms: Colmex Pro 2.0, MetaTrader 4, and MultiTrader, all of which are compatible with iOS and Android devices.
Prices for share CFDs are dependent on tiers, with the Bronze plan starting at $0.01 per share and rising to $0.005 per share in the Diamond plan. You can also opt for a fixed plan, paying $12 for up to 3,000 shares in the Bronze plan and $9 for up to 5,000 shares in the Diamond plan. All tiered plans are priced at $0.01 per share for stocks, while fixed plans start at $6.95 for up to 3,000 shares. Fees for other assets vary based on the asset and which of the five options you select. For key currency pairs, spreads start at 0.3 pips. However, the underlying account has a commission cost of $14.50 per side of the contract.
Other costs to be aware of include a $30 monthly inactivity fee for CFD accounts and a $55 monthly inactivity fee for equity accounts. This is the case if there has been no trade activity for 30 days in a row. On CFD and stock accounts, there are also overnight rollover (swap) costs, as well as ECN and routing fees.
For retail clients, leverage of up to 1:5 is available for shares. You can apply up to 1:20 leverage for expert customers. Until 1:30 p.m., forex assets can be used.
Deposits and withdrawals
Credit/debit cards, wire transfers, and online payments such as PayPal are all options for funding your account. Deposits are not charged by Colmex Pro. The first withdrawal transaction of the month that is less than $500 is free. Any future withdrawals will cost you $40 (or €30 if you have a euro account). It takes 3-5 business days to process bank transfers. Credit card deposits are completed within 24 hours, and in most cases, within two hours.
For share and equity CFDs, Colmex Pro offers graded or fixed contracts. Share CFDs are available in the following tiers: Bronze, Silver, Gold, Platinum, and Diamond. The Bronze plan requires a minimum deposit of $500 and a minimum order of $1.50. A minimum deposit of $2,000 is required for the Bronze plan. You can choose from the Bronze, Silver, or Gold stock plans, starting with a $3,000 initial deposit and a $2.50 minimum order for the tiered plan. Fixed-rate programs require a minimum deposit of $25,000 to begin. The minimum initial deposit for Forex is $2,000 (or the equivalent in euros), and the minimum trade size is 0.01 lot. The minimum spread is 0.3 pips.
Beginners and pros alike can use the trial account to practice their trading methods in a risk-free environment. Demo accounts come with a virtual balance of 25,000 and a purchasing power of 100,000 by default. You can, however, request a higher sum based on your requirements. Please note that the demo is only available for 5 trading days, which is much fewer than the 30-day demo offered by most other brokers. After creating an account, you can install the trader trial.
The Cyprus Securities and Exchange Commission regulates the firm under License No. 123/10, and the South African Financial Conduct Authority (FSCA) regulates it under License No. 46990. It is also a member of the Investor Compensation Fund, which protects customer funds up to €20,000 in the event that the broker fails to meet its financial commitments. Client money is also held in segregated bank accounts at top-tier banks by the broker. As a result, we are certain it is not a hoax.