Colmex Pro Review

Colmex Pro Futures Broker Review 2024

8 min read

Colmex Pro has been operating as a Forex (FX) broker since 2004. It’s fairly established as an FX and CFD trading powerhouse in the Forex trading industry. So, if you want to discover if Colmex Pro may be the perfect choice, continue reading our Colmex Pro Review.

Colmex Pro is a European-regulated Forex broker offering traditional Forex and Contract For Difference (CFD) products and access to US and European stock exchanges. Hence, users can access various financial instruments at their fingertips.

Colmex Pro Website Review

It’s no surprise that they Colmex Pro is considered to be a very reputable broker. They have built their reputation as a trustworthy investment firm, delivering high quality, reliable trading services to all their clients.

I’m not going to list them all here. Still, some include the Financial Conduct Authority (FCA) of the UK, the Federal Financial Supervisory Authority in Germany, the Commission Nacional del Mercado de Valores of Spain, and the Autorite de Controle Prudentiel et de Resolution of France, to name a few. However, I discovered that these agencies do not regulate Colmex Pro directly. The CySEC regulates Colmex Pro under the MiFID derivatives of the European Union.

Although these agencies technically regulate Colmex Pro, they are not directly supervised.

CySEC Colmex Pro

It’s not all doom and gloom in this Colmex Pro review, however, as the CySEC Colmex Pro regulation does carry its fair amount of weight. Specifically, they have a high minimum capital requirement of €730,000 for all brokers.

Furthermore, they perform routine audits to ensure brokers are not committing any illegal activity that may compromise the integrity of the European financial markets.

Moreover, CySEC requires brokers to keep funds in segregated accounts, which protects clients. In other words, traders are compensated up to €20,000 from the Investor Compensation Fund (ICF) if a broker suddenly goes bankrupt or insolvent.

What does all this mean to you? It means you’re protected if Colmex Pro suddenly packs it in and the owners head to the beach. All in all, it’s not so bad after all.

US Citizens Are Out of Luck

In short, Colmex Pro does NOT provide its services to US citizens. Primarily, this is because the broker does not have an office in the US. Hence, they are not regulated by the CFTC and the NFA.

This can be unclear, especially since they advertise trading access to the US financial markets.

Colmex Pro connects traders to the US financial markets through global liquidity providers. These global liquidity providers can operate in the US financial markets through SEC and other US regulatory licenses.

Day Trading Course Options Trading Course Futures Trading Course
DESCRIPTION Learn how to read penny stock charts, premarket preparation, target buy and sell zones, scan for stocks to trade, and get ready for live day trading action
Learn how to buy and sell options, assignment options, implement vertical spreads, and the most popular strategies, and prepare for live options trading How to read futures charts, margin requirements, learn the COT report, indicators, and the most popular trading strategies, and prepare for live futures trading

What Can I Trade?

  1. American Stocks
  2. European Stocks
  3. Forex
  4. CFDs

Colmex Pro Fees and Commissions (Pricing Review)

They offer six levels of account types, which determine your commission rate structure. Rates for CFD trading are from $1.50 – $9.95 per trade, and for stock trading, they are from $4 – $9.95. Colmex Pro spreads for the VIP account start from 0.9 pips for the Electronic Communication Account (ECN). Traders will be set back $3 commission per lot.

The Standard account, however, has a slightly larger spread, starting at 1.7 pips. Moreover, this can increase substantially based on the existing liquidity and other market conditions.

Shockingly, the commission for the Standard account can go as high as $8 per round lot. Quite frankly, this is incredibly higher than other ECN brokers. What’s important to know is that ECN and SEC fees apply, plus an overnight daily margin interest of 0.026%.

1. Equities and FX Accounts

Opening an account with Colmex Pro is quite easy. And with one-stop shopping for individually tailored equities and FX trading, life is simple.

An equity trading account provides US and EU stock markets and CFDs access. On the other hand, the Forex trading accounts understandably give access to Forex currency pairs and commodities.

With this broker, traders can open either account for a minimal investment of $250. As a bonus, you will get maximum Colmex Pro leverage of 1:12 for equities and 1:200 for Forex.

Depending on the account type opened, the company has also offered different subcategories trading account subcategories. Remember that these subcategories of trading accounts are directly related to the minimum deposit requirements.

Do you think you need more than the Standard account? With this broker, a minimum of $1000 and $3000 are needed for the Colmex Pro ECN account for Forex and Equities.

The company offers a healthy leverage of up to 30:1 for Forex trading and 5:1 for stocks. As you know, stock trading on leverage or margin is risky, and I do not recommend it for new traders.

2. The Hidden Fees

Brokers have a sneaky way of slipping in hefty commissions when you want to make a payment.

For this reason, I recommend you be aware of the fees associated with deposits and withdrawals using the Colmex PRO user dashboard.

Reviews online claim a USD 15 deposit fee, a USD 40 withdrawal fee, and a USD 55 non-activity fee/month.

I couldn’t find any information related to fees on their website. But, a user review online stated the fees are only mentioned in legal documents.

At any rate, read the fine print before you sign. 

Colmex Pro Trading Platforms Review

Variety is life’s spice, and ColmexPro doesn’t fail to impress here. They offer clients access to several platforms and two demo accounts (CFD and equities)

  1. Colmex Pro MT4
  2. Colmex MT4 mobile
  3. Colmex Pro Trader
  4. Colmex Pro Trader CFD
  5. Live Forex

To make a long story short, the proprietary Colmex Pro Trader is the cream of the crop insofar as their trading platforms are concerned. In particular, it offers excellent market access, enhanced charting functionalities, and a pleasant user interface.

You still have the choice to opt for the traditional MT4 terminal. Besides, it’s still sought by most traders, so there’s no need to feel you’re missing out.

It’s hard to choose between the multiple platforms, and as a trader, you should demo trade the different platforms before making a choice.

You can open an unlimited Colmex Pro demo account to help you evaluate the different platforms and understand the basic Colmex Pro trading environment.

It is also important to remember that ColMex Pro delivers instant execution without slippage. This ensures that your trades are made almost instantly.

Trading on the Fly

If you’re anything like me, I’m busy and often need to trade on the go. Enter the Colmex Pro mobile trading app. With it, trading is a breeze.

This is because all the proprietary Colmex Pro trading platforms and MT4 available on desktop are available on your mobile devices.

Customer Support

Regardless of the broker you use, you will run into issues at some point in time.

One of the weak points of Colmex Pro is its customer support. It takes a while for customers to respond to their emails, and the only way to get quick support is to call them directly.

Still, they just implemented a live chat feature on their website, which is surprisingly good.

Final Thoughts: Colmex Pro Review

The lack of US regulation is a drawback for a broker operating in the industry for so long. US traders will certainly miss out on enjoying the benefits of a Colmex Pro account.

At any rate, Colmex Pro is a genuine broker, but the minimum deposit requirements are a bit on the higher side.

Coupled with the hidden fees, you might be in for a surprise. Because of this, it’s vital to browse through other brokers with far more attractive trading conditions.

Frequently Asked Questions

Investors cannot purchase shares of Colmex Pro because the company is privately held.

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