WikiFX

Reply

As someone who has spent years navigating various brokers, I approach a new name like CMCU with considerable caution. I noted that CMCU operates out of Australia with a history of 5-10 years, and was originally licensed by ASIC for investment advisory services. However, for me, the most important detail is that their ASIC license is now listed as “exceeded.” This means they no longer have up-to-date regulatory oversight, which raises significant questions about ongoing compliance and client safety—something I never compromise on due to the risks inherent in trading and financial management. In terms of offerings, CMCU provides a broad mix of general financial services including savings accounts, loans, some travel-related products, and multiple account types targeting both individuals and businesses. While this range might be attractive for general banking, I did not find evidence of a robust forex or CFD trading infrastructure—there is no mention of platforms like MT4/MT5 or dedicated trading tools on their listing. Their account fees are also non-trivial, with a $5 monthly access fee and a rather complex, transaction-based charges structure. For a trader like myself, clear and predictable cost structures are essential, and CMCU’s fee approach could quickly erode gains, especially when compared to mainstream brokers. Their security measures seem to cover basic client account hygiene, but without current regulation and with a limited reputation in the trading industry, I am not comfortable considering them a trustworthy choice for forex trading. Ultimately, the presence of alternative brokers with higher regulatory scores and established trading platforms leads me to conclude the disadvantages with CMCU far outweigh the few service advantages for a serious trader.