CIMD LTD Review. Incompetence and Fraud Unveiled

I wrote a CIMD LTD review to inform traders about another scam broker. Many might be misled by the information about registration in Dubai or claims of twelve years of market experience. However, these details have nothing to do with this trading platform, which is not trustworthy.

Advantages and Potential Drawbacks

This list could probably go on, but I think the points mentioned are enough to understand: trusting CIMD LTD means losing your money. I’ll explain more about how these scammers operate further on.

Trading Opportunities at CIMD LTD

I’ll start with the list of trading instruments available to this broker’s clients. First of all, I should note that the owners of the broker have significantly differing opinions about the number of instruments. How else can you explain such discrepancies:

• The banner on the homepage mentions 3,800+ assets.
• Yet on the About page, it states there are 250+.
• Closer to the footer of the homepage, the number increases to 63,234.

I understand that 250+ can technically include both 3,800 and 63,234, but legitimate brokers handle such numbers much more carefully.

The Markets page, where traders should find detailed information about all the trading instruments, is particularly impressive. The company listed all the asset groups (markets) to which users have access:

• Currencies (Forex pairs).
• Cryptocurrencies.
• Precious metals.
• Commodity assets.
• Company stocks.
• Stock indices.

Each description contains just 2-3 sentences, without mentioning contract specifications or details of specific groups. For example, the broker either does not know or has chosen not to inform clients that exotic pairs typically have low liquidity and high volatility. This makes trading them extremely risky, and when using leverage, a trader can incur significant losses or even lose their entire deposit.

Another risk factor is the use of leverage. However, CIMD LTD mentions this in a couple of lines in the footer of the page, without providing a comprehensive mandatory Risk Disclosure document on the official website. This openly violates regulatory requirements.

Detailed Analysis of Trading Conditions

Partially, CIMD Dubai Limited discloses the trading conditions on the account types page. By the way, there are two links to this page in the main menu. It seems the broker wanted to make the menu look more substantial but lacked the creativity to fill in the points. So, they ended up duplicating the link to probably the most informative page on the site.

But let’s return to the account types. There are five in total. The minimal information about the trading conditions available for each tariff is presented in the table.

Account	Minimum deposit, EUR	Maximum Leverage	Minimum Spread	Minimum Contract Size	Available Trading Assets
Test	100	1:20	0.8	0.01	Forex
Beginner	2,000	1:30	0.6	0.01	Forex, indices
Standard	50,000	1:40	0.5	0.01	Forex, indices, commodities
VIP	150,000	1:50	0.4	0.01	All
Corporate	Individual	1:100	Floating	0.01	All

After reviewing these trading conditions, I had even more questions.

• The maximum leverage in the table is 1:100, but on the homepage, it’s listed as 1:500. Which information should be trusted? Or are there irreconcilable differences among the company’s owners again?
• Leverage of 1:100 for Forex, stocks, and cryptocurrencies determines three different levels of risk (it becomes extreme in crypto trading). Is it really the same for all markets? If not, why are there no options for different asset groups?
• The difference in conditions between Test and Standard accounts isn’t that significant. So, is it worth depositing 500 times more for the dubious advantage of twice the leverage and trading commodities?
• Why should I pay even 100 euros to test trading with CIMD LTD when most reputable brokers offer free demo accounts for practice?

Do you think support answered any of these questions? No, they constantly ignore inconvenient questions. And I think there’s no doubt that the ones listed above are inconvenient.

Enhanced Account Features

There are only a few additional options that CIMD LTD included in the account types table. For example, for the lower-tier accounts (up to Standard), the company provides an account manager to assist traders. For higher-tier accounts, this role is performed by a personal manager. Additionally, owners of these accounts get access to analyst services and trading signals. VIP account holders can contact the corporate department of the company, and those on the Corporate plan are promised the opportunity to make contracts with hedge funds.

I can say with certainty that all of these features are useless, if not harmful. Company managers give trading advice to traders, but their value is negative. In negative reviews, many CIMD Dubai Limited clients say they lost their entire deposit (and sometimes more than one) thanks to these managers. It’s clear to everyone how valuable the analyst services and signals calculated by the same team are.

As for contracts with hedge funds, it would be very interesting to see a list of the funds the company works with. It would also be helpful to see a financial report confirming that these hedge funds are indeed willing to work with the broker and accept recommended clients.

Lastly, about the broker’s proud claims of low commissions and trading on higher accounts without any. It seems like a great deal, right? The broker is trying to reduce traders’ costs. I have just one question: where did these commissions come from in the first place? The company uses DD technology, is not limited in quote manipulation, and takes all the client’s losses as its own profit. And yet, they also charge a trading commission. The owners’ appetites are truly enviable.

Researching the Credibility of the Broker CIMD LTD

One of the clearest signs of a dishonest broker is the publication of false information. They provide several such examples, with most falsehoods relating to critical aspects like registration and licensing.

Platform’s Regulatory Framework

In the footer of their website, CIMD Dubai Limited boldly claims to be registered in Dubai, UAE, and even provides a registration number. At first glance, it seems legitimate — there is indeed a company with this name in the registry, operating since 2012, and it holds various licenses from the local regulator, DFSA, covering a wide range of investment activities from securities brokerage to insurance.

It might seem like traders have finally found a little-known, fully legal broker. However, a closer look at the official details reveals otherwise.

The actual CIMD (Dubai) LTD is part of the Southern European Grupo CIMD Intermoney group, which includes companies in Madrid and Lisbon. The contact information provided by these companies (including the Dubai entity) does not match the details on the fake trading platform being reviewed (except for the address and registration number).

Secondly, the broker’s website does not conform to corporate standards, indicating it is not part of the group. And no other CIMD LTD exists in Dubai.

Thirdly, the group’s and the actual company’s websites list their services as:

• Brokerage.
• Capital management consulting.
• Fund management.
• Operating in private (OTC) markets with shares and other assets of non-public companies.

All these services are provided to institutional investors, with no mention of retail Forex or CFD trading. The conclusion is clear: the scam broker is using the name of a legitimate Dubai company to cover its illegal activities. This is confirmed by the fact that the platform has no official registration or license.

Actual Operational Timeline

CIMD Dubai Limited also deceives clients about its operational history. Following the legend of the Dubai company, the broker claims on its About page to have 12 years of market experience and 837,300 active traders. Quite impressive for a broker that was unknown until recently.

However, the homepage statistics tell a different story, mentioning 12,016 active traders. Can you trust a firm that doesn’t know whether it has 12,000 or 837,000 clients?

A look at official sources provides clarity. For example, a WHOIS search reveals the domain cimdltd.com was registered on April 15, 2024. This means the broker has been online for less than two months at the time of this review, debunking the claims of 12 years in the industry and the hundreds of thousands of active clients.

To achieve even 12,000 registrations, the site would need around 200 new users daily. However, based on cimdltd.com reviews and traffic monitoring service statistics, the total monthly page visits don’t exceed 500.

In short, it’s another blatant lie. I hope there are no more traders willing to join this scam project and lose their money.

Account Funding and Withdrawal Processes

I’ve often been asked by traders whether it is safe to store money in CIMD LTD accounts and how transparent and honest their monetary transactions are. The short answer is that it is not safe at all. Consider this: the company operates without official registration, so no reputable bank would handle their transactions. This means they likely don’t have bank accounts, and all funds are transferred to cryptocurrency wallets or private accounts (drops).

This can easily be verified. In the personal account on the Deposit page, I found no active payment methods — there wasn’t even a button for this operation!

Of course, you can still deposit money into your account. You just need to contact their support team. The staff will quickly guide you on which method to use and provide the necessary details for the transfer. However, this doesn’t seem very transparent or honest.

The process of submitting a withdrawal request looks somewhat better. You can choose to send money to a cryptocurrency wallet, card, or bank account. However, I suspect that they might list any options here, even cash withdrawals. Regardless, CIMD Dubai Limited has no intention of returning the money to anyone.

Steps to Take if You Fall Victim to Fraud

I hope I’ve convinced you that investing in CIMD LTD almost certainly means losing your money. But what if you’ve already sent money to these scammers before reading my review?

Let’s be clear: you won’t get your money back by:

• Contacting your bank.
• Reaching out to a regulator (and it’s unclear which one to contact).
• Speaking to a financial ombudsman.
• Using chargeback services.
• Relying on private individuals who promise to help for a fee.

Scammers operate without registration or a license, receive transfers to cryptocurrency wallets or drop accounts, and none of the above entities have real leverage to help fraud victims. Those who claim otherwise are likely trying to scam you further by extracting additional fees.

The only ones who might be able to help are law enforcement agencies. They are officially responsible for investigating fraud and, if successful, can bring the scammers to justice and recover the stolen funds. However, it’s important to understand that the chances of success are slim.

Advice. If you become a victim of scammers, speak up. Don’t watch others lose money in the same way you did. Leave negative reviews wherever you can. You’ll help prevent others from falling into the same trap and reduce the scammers’ income.

Final Thoughts and Major Insights

In conclusion, the CIMD LTD review is complete. The summary can be expressed in just a few words: the broker cannot be trusted, and the money sent to them is likely lost. Here are the main points supporting this view:

• Operating without registration and a license, using another company’s name.
• Providing false information about the company, with statistical discrepancies.
• Contradictions in trading conditions.
• Attempting to mislead users about the project’s operational timeline.
• Non-transparent monetary transaction conditions.

I do not recommend risking even a minimal amount on this scam. According to online reviews, earning money here is impossible, and retrieving it is equally unlikely.