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CIX Markets Review | Prioritize its Clients above All Else or Scamming Them?

by Kevin Berry
Rating: 
  2.7/5   Reviews: 3
CIX Markets - logo

CIX Markets claims to prioritize its clients above all else, but we need to verify such bold statements. It’s possible that it could turn out to be a scam or something of that nature. Therefore, we will thoroughly examine all of the broker’s offerings and scrutinize customer reviews to make sure of its legitimacy.

Highlights

🏛️ Country UK
⚠️ Regulation FCA
🖥️ Website https://www.cixmarkets.com/
🎲 Demo Account Yes
⏳ Start Time 2015
💲 Minimum Deposit
⚖️ Minimum and Maximum Leverage
⚙️ Trading Platform MT4, Original software
📨 E-mail customerservice@cixmarkets.com
📞 Phone +44 (0)20 7614 4688

First Impression of Cixmarkets.com

The CIX Markets website left a negative impression on us from the outset. It’s clear that the platform is overloaded with unnecessary and excessive elements that make it difficult to navigate. This is not the kind of website you’d expect from a reputable broker. It’s obvious that visitors will find it inconvenient to locate anything. The homepage is overloaded with information, most of which traders won’t even need. Moreover, there’s an excessive amount of self-promotion and self-praise, with CIX Markets devoting a lot of attention to describing its advantages.

CIX Markets - website

Account Opening on Cixmarkets.com

The registration process on the Cixmarkets.com platform is quite complicated. Clients will be required to fill out a fairly detailed form right away. In addition to providing their full personal information, they will also need to provide contact details, including several addresses. A phone number and email address will need to be verified. Furthermore, broker will inquire about your investment and trading experience. Only after completing such a detailed form will you gain access to the Client Portal.

Registration

Verification at CIX Markets

As the broker operates officially, you will need to go through full verification. To do this, you have to upload copies of your documents to the Client Portal. As usual, you will need to confirm your identity and place of residence. Additionally, you may be required to verify your payment details and the legality of the funds’ origin.

Pros
  • The verification process is described in detail
  • Uploading documents is convenient.
Cons
  • A lot of data is required.

Trading Software

CIX Markets offers customers a choice between two options. Traders can use MT4 or the broker’s proprietary platform. Of course, MT4 is a more popular, familiar, and functional solution. Although it’s a bit unclear why the broker preferred the older version, MT4, instead of MT5.

Features CIX Markets ToroProfit InvestFW
Demo Account ✔️ ✔️
Mobile App ✔️
Own Development ✔️ ✔️ ✔️

How Can I Trade With CIX Markets?

CIX Markets promises its clients competitive conditions. Let’s take a closer look at what this broker offers to its traders and whether it is worth considering for collaboration.

All Info About Accounts

CIX Markets offers an obvious unified account. However, the broker does not seem to be very transparent about its conditions. For example, the website states that traders can expect tight spreads and high leverage, but specific spread sizes are not provided. As for the «high» leverage, this is also misleading. If CIX Markets is indeed regulated by the FCA, the maximum leverage it can offer retail traders is 1:50. Only professional clients are eligible for increased leverage of up to 1:500, but certain conditions must be met to obtain it. By the way, CIX Markets does not specify the minimum deposit size, and it is also unclear if a swap-free account is available on the platform. At least a demo account can be opened.

Pros
  • Unified account.
Cons
  • Lack of detailed description of conditions
  • Most likely no swap-free account.

Market Analysis and Education With Cixmarkets.com

On the broker’s website, there is a section for news and education. However, in our view, its value is questionable. It’s possible that the broker provides comprehensive market analysis, but it’s not available in the public domain. On the other hand, there are news articles available to the public, although they are not updated very regularly and with a delay of up to a week. Additionally, there are several educational articles, guides on the topic of financial markets, and technical/fundamental analysis.

Deposit, Withdrawal, and Fees

CIX Markets offers various deposit methods, including debit and credit cards. However, the broker does not specify the fees for depositing or withdrawing funds.

Features CIX Markets Maddex Capital  MTCapitals
Debit/Credit Cards ✔️ ✔️
Electronic Payments
Crypto Transfers ✔️ ✔️
Deposit Fee
Withdrawal Fee

How Can I Contact It?

CIX Markets provides full contact details. You can reach their support team by phone, email, or by filling out a feedback form. Additionally, the broker provides their office address. However, they do not specify their working hours or whether clients can visit their office.

Pros
  • Full contact details.
Cons
  • Unclear whether their physical office is open to clients.
  • Sometimes it is difficult to reach their support team by phone.

Is CIX Markets Dangerous?

CIX Markets claims that client funds will be completely secure on its platform. Let’s take a closer look and see if these claims can be trusted.

How Long Does The Broker Work?

There is no doubt about the length of operation of CIX Markets. The broker states that it was launched in 2015, which is consistent with the registration date of the domain on February 19, 2015.

Domain info

How Is CIX Markets Regulated?

CIX Markets is registered in the UK. The managing company, City Credit Capital, was added to the registry as far back as 2001. Also, the FCA authorizes the broker. Moreover, City Credit Capital has another project that provides brokerage services under the name CCC, which has similar conditions to those we have reviewed here. It is not entirely clear why City Credit Capital is promoting two brands simultaneously when it could focus more effort on one.

Features CIX Markets Vantage  Unicorntradefx
European Zone ✔️ ✔️
Asian Zone
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With CIX Markets?

To start trading with CIX Markets, you need to register an account on their website. Also, you will need to verify your identity by providing some personal information and documents. Once your account is set up, you will need to fund it with money. After that, you can start trading.

Is CIX Markets Legit?

CIX Markets is a legitimate company registered in the UK, and it is authorized and regulated by the Financial Conduct Authority (FCA).

How Risky Is It?

While CIX Markets is a legitimate company, trading in financial markets always carries a risk, and CFD trading is particularly risky. According to statistics, around 65% of retail investor accounts lose money when trading with CIX Markets. It is important to understand the risks involved before investing your money, and to only invest what you can afford to lose.
Kevin Berry
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Expert Opinion

Investing with CIX Markets is like a rollercoaster ride: it can be exhilarating, but also pretty scary at times. While the company seems to have a solid track record and is registered with the FCA, there are some red flags that can make your stomach churn. The high spreads and hidden fees are like the steep drops and unexpected turns that can leave you feeling queasy. It’s important to buckle up and do your research before taking the plunge. Remember, trading is a wild ride, so you might as well enjoy it!

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CIX Markets rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about CIX Markets

Shelly March 2, 2023 - 18:49
Neither good nor bad
The level of trust
Quick withdrawal of funds
Efficiency of technical support

CIX Markets is a fairly average broker with no standout features. There’s nothing particularly special about their platform or services. If you’re looking for a basic, no-frills broker, CIX Markets could be an option, but if you want something more advanced or with unique features, you may want to look elsewhere. So, there’s nothing particularly good or bad to say about this broker. It simply exists as a middle-of-the-road option in a crowded market.

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Greg March 10, 2023 - 21:04
I was a little stressed
The level of trust
Quick withdrawal of funds

I recently had a terrible experience with this broker. I requested a withdrawal of my funds, and despite the promised processing time of three business days, it took over a week for me to receive my money. The delay caused me a lot of stress and inconvenience, and I lost faith in the company’s ability to handle my finances. I would not recommend this brokerage to anyone who values prompt and reliable service.

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Billy March 14, 2023 - 13:22
I don't like the platform
The level of trust

In my experience, I found their trading platform to be lacking in several areas. The user interface is confusing and difficult to navigate, and the platform itself is slow and unresponsive. Additionally, I encountered frequent technical issues and glitches, which made trading a frustrating experience. Overall, their platform leaves much to be desired in terms of usability and reliability.

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