Core Liquidity Markets is a trading name of CLMarkets Ltd. – a company, registered in St. Vincent and the Grenadines. We couldn’t find any information about licensing and authorizing, so most probably this is an offshore brokerage firm.
CLMarkets offers 54 currency pairs (including all the major crosses, minors and exotic ones), 9 global indices, 10 US shares, commodities (Gold, Silver Copper and Platinum) and 7 cryptocurrencies.
Clients can open two types of accounts – Standard and ECN. The Standard account requires USD100 to open and offers an average spread of 1.3 pips for the EUR/USD pair. All forex trades are free of charge. The ECN account requires a minimum deposit of USD500 and offers close to zero spreads of majors at the expense of a commission of USD3 per standard lot. As a non-regulated brokerage company, CLMarkets provides up to 1:500 leverage for currency pairs. As we always say, the greater the leverage, the greater the risk of complete loss.
Customers can trade through the MetaTrader 4 terminal, which offers one of the most comprehensive charts and analytics packages currently available on the market. This makes it the preferred platform for beginners and professionals. Traders can access their account from any web browser and operating system, without the need of additional software downloads or installations, only an Internet connection is required. This terminal is available as an application on GooglePlay store and AppStore.
Along with debit and credit cards, clients of CLMarkets can deposit funds with popular e-wallets like Neteller and Skrill, as well as bank transfers. Core Liquidity Markets provides partnership programs that include ‘Invite a friend’, ‘Affiliates’ and ‘Introducing Brokers’.
Let us find out what kind of broker CLMarket is according to the legal documents. The ‘Product Disclosure Statement’ reveals that the company has a ‘no negative balance policy’ and the loss is limited to the net amount deposited, or you cannot owe money to CLMarkets. Another important thing is that stop loss orders are not guaranteed. That means they can be fulfilled at a price worse than the price you set. The document also shows that due to an increase in the market volatility, orders may be subject to slippage. The last thing we want to share is that CLMarkets declares that it is the counterparty to each client transaction and acts as a market maker, not as an agent, which transfers it directly to liquidity providers.
We can summarize that CLMarkets is a typical offshore company that is not regulated and authorised by any serious financial institution. Although the company claims that customers’ money is protected, there is no institution to monitor and regulate it. If you want to take the maximum risk, you can do it here with a 1:500 leverage, but keep in mind you may never have a chance to withdraw.