BrokersView has Reviewed that ​CMGSFX is an Unregulated Broker According to its website, CMGSFX claims to be regulated by Financial Conduct Authority (FCA) with registration number 146311, National Futures Association (NFA) and the Financial Crimes Enforcement Network (FINCEN). While we found corresponding records in the FCA to the regulatory number, the company's name and website information linked to this FRN are different from CMGSFX's. It evident that CMGSFX has illegally copied the company's regulatory information to deceive investors. In addition, we didn't find any matching information in the NFA and FINCEN, and FINCEN is an agency that supervises money laundering and does not have the right to supervise foreign exchange. The truth is that CMGSFX is not regulated by any regulators. Letting it hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, CMGSFX is a scam.

The FCA adds CMGSFX to its warning list On January 16, 2024, the Financial Conduct Authority (FCA) issued a warning against CMGSFX, believing this company might be providing financial services or products without proper authorization in the UK. https://www.fca.org.uk/news/warnings/cmgsfx

BrokersView has identified that CMGSFX's website is currently offline BrokersView found that the domain "https://www.cmgsfx.com/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.

CMGSFX is trustworthy? No, CMGSFX is not trustworthy. It is an evident fraud scheme.CMGSFX copies regulatory information of a company licensed by the Financial Conduct Authority (FCA) to deceive unwitting investors and falsely claims to be regulated by the National Futures Association (NFA) and registered with the Financial Crimes Enforcement Network (FinCEN). These deceitful practices significantly suggest that CMGSFX is dishonest and expose its intention to defraud.Therefore, we strongly suggest investors stay away from CMGSFX immediately. Individuals, if dealing with this shady broker, will expose themselves to fraud and identity theft, with no legal protections in place. To avoid such substantial risks, it is recommended to choose fully regulated brokers. View Source

CMGSFX has not processed my withdrawal 20+ days I placed my withdrawal request on Nov. 7. CMGSFX claims they sent the wire transfer on Nov. 8. My bank has performed a check today, and the transfer has not been received. CMGSFX appears to have stopped responding to my messages. After steady responses no reply in 24h. I am attaching all correspondence and relevant document screenshots. View Source