Capital Markets Elite Group (CMEG) looks really enticing. In case you’re interested in this broker, please read the unbiased Capital Markets Elite Group Review first.
We’ve analyzed what this broker offers in terms of regulation, trading platforms, conditions, and payment methods. This review covers the offshore branch of CMEG (cmelitegroup.com).
Capital Markets Elite Group Limited is an offshore brokerage company based in Trinidad and Tobago in the Caribbean Sea. This company is registered with the local regulator TTSEC.
Albeit much more secure than its neighbor SVG, Trinidad and Tobago is not exactly known for world-class regulations and strict supervision. The offshore domain is a bit loose so it leaves room for issues. It doesn’t favor CMEG’s regulation, which is also the case with Unit Forex.
Note that this review deals with the offshore subsidiary of CMEG. There’s also an office in the UK, which is a different domain. That entity is regulated by the FCA, a Tier 1 financial authority so we recommend you choose that domain instead of the offshore one.
The jurisdiction of the European Securities and Markets Authority (ESMA) is a much safer bet than offshore domains.
If you’re from the US, you’re broker has to be an NFA and CFTC member. CMEG is not, meaning the broker isn’t authorized to provide trading services in the States.
CMEG used its offshore subsidiary to reach clients from multiple heavily regulated domains around the world. Here’s a list of countries where this broker was active:
Basically, CMEG doesn’t have a permit to operate in the US or Canada. Australia is also off-limits for this entity as it is not registered with ASIC.
CMEG has social media; the website lists Facebook, Instagram, Twitter, LinkedIn and YouTube. In addition, the broker also contacts clients via phone and email.
We suppose that CMEG also ran online marketing campaigns to promote its products and offers. Either that or agents to the work for the broker.
At the time of this writing, there are 134 reviews of CMEG on Trustpilot. The average score that this broker has is 4.3 (excellent). Up to 61% of users gave CMEG five starts.
However, we did find several complaints against the broker. We read about withdrawal issues and high commissions.
I am still waiting for my funds after over a month. Do not trust this company.
CMEG offers six different trading platforms. From unique and proprietary platforms to famous and renowned trading software.
Some of these platforms are web-based or available for mobile (Android & iOS). Keep in mind that not all of CMEG’s platforms are free; on the contrary, CMEG charges hefty fees for them.
CAP it ALL is a proprietary platform with a minimalist layout and customizable tools. It was created by traders for traders and can be accessed via the web, desktop, and mobile phones.
This platform is free, i.e. CMEG doesn’t charge any price for it. It seems like a decent a useful trading software.
For this platform, CMEG charges 224 $ for equities trading. Sterling Trader Pro is a dynamic platform with a customizable interface. Cutting-edge alerts and risk tools make trading simple.
Traders can also benefit from lightning-fast execution. Also, it enables easy analyzing of charts and placing and managing orders.
DASP Trader Pro costs 190 $. This platform offers hot key traders and buttons, custom trading alerts, advanced charting, etc.
Day traders benefit the most from using this platform. DAS Trade Pro allows the user to take advantage of real-time market data and over 30 indicators.
Takion is a unique equities platform based on a technologically-advanced code and algorithmic smart order routing. The platform has been designed for active traders and professionals, mostly for the latter.
Beginners may find Takion’s complex interface a bit hard to comprehend. CMEG charges 185 $ for this platform and allows you to trade equities and ETFs.
MT platforms were designed by MetaQuotes. These amazing pieces of software offer the best trading experience for traders of all levels and skills.
Offshore brokers sometimes do offer advanced software such as MT platforms. CMEG and Dominion Markets are examples.
Both MT4 and MT5 are free and can be accessed via desktop and mobile. CMEG says that Forex and CFDs can only be traded on MT platforms.
CMEG offers a variety of different trading assets:
CMEG’s spreads are variable but the broker didn’t disclose how low they are. As for commissions, the Standard Account commissions for US equities are 8.95 $ per trade and 0.0075 $ per share.
Active account commissions start at 3.95 $ per trade and 0.007 $ per share on a monthly volume of up to 350,000 shares. For a monthly volume of over one million shares, CMEG charges 1.95 $ per trade and 0.0035 $ per share.
According to CMEG’s website, the broker offers the following account types:
As the name suggests, only the Forex account offers FX currency pair trading. However, the leverage of 1:200 is really high and risky, as with the Geetle broker. Each account type offers a different selection of trading platforms.
Regarding the other account types, a minimum deposit of 500 $ can be too much, especially given the lax security of funds that CMEG offers.
Yes. CMEG allows its clients to open a free demo account and test things out. After all, there are many platforms so it would be good to first try them out.
But, issues pop up when you switch to a live account. Please be careful since you’re risking real money.
We searched the website to find Capital Markets Elite Group’s withdrawal policy. No luck, we only found this statement regarding the payment method:
“Please set up an international wire transfer. It is currently the only option to fund your account. Instructions on how to fund your account can be found in your Secure Client Portal.”
The minimum deposit is 500 $ with no related fees, As for the withdrawal fees, CMEG charges a 60 $ processing fee.
All in all, CMEG seems like a decent offshore broker but is still not what we would call “reliable”. If CMEG violated any terms and conditions, please let us know.
In case of withdrawal issues, please notify our team so we could react by reporting the broker to the authorities. You need a recall to reverse your wire but you must act as quickly as possible.
If this broker steals your money, contact us for help. Please book a free consultation with us using Online Chat, it’s the easiest and fastest way.
CMEG is a double-edged sword. While the broker seems like a nice trading platform, it’s based offshore and thus is risky.
Yes so be sure to try things out before opening a live account and risking your money.
Yes. Some of CMEG’s trading platforms are available for Android and iOS.
Yes. CMEG offers a variety of trading platforms from MT 4&5 to Takion and Sterling Trading Pro.
CMEG is a double-edged sword. While the broker seems like a nice trading platform, it’s based offshore and thus is risky.
Yes so be sure to try things out before opening a live account and risking your money.
Yes. Some of CMEG’s trading platforms are available for Android and iOS.
Yes. CMEG offers a variety of trading platforms from MT 4&5 to Takion and Sterling Trading Pro.
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