CXM Direct Review

CXM (CXM Direct) is a multi-asset forex/CFD broker established in 2015, with offices in London, Dubai and Mauritius. It positions itself as a B2B-grade STP/ECN broker.

Holds a UK FCA authorisation (firm ref 966753) and an offshore FSC Mauritius retail-forex licence, plus an SCA (UAE) presence. The entity — and your protections — depend on your country of residence.

MetaTrader 4, MetaTrader 5, a proprietary WebTrader and iOS/Android apps. Expert Advisors and copy trading are supported.

Forex majors, minors & exotics plus CFDs on indices, metals, commodities and crypto. STP/ECN execution on raw-spread accounts.

Rated 4.6/5 “Very Good” across 805 Trustpilot reviews. Support and fast onboarding are praised most often.

Reviews are mixed for experienced traders: alongside the praise, several reviewers report restricted accounts and adjusted/withheld profits citing “toxic flow”. Treat with due diligence.

ASIC + FCA regulated, Razor account from 0.0 pips, MT4/MT5/cTrader/TradingView. A stronger, more established choice for scalpers and EA traders.

ASIC + CySEC, one of the deepest retail liquidity pools, raw spreads with $3.50/side commission. Favoured for institutional-style execution and large lot sizes.

CySEC + ASIC + IFSC, very accessible for beginners with low minimum deposits, micro lots and a wide instrument range with strong multilingual support.

Regulated by the Central Bank of Ireland, ASIC and FSCA. Fixed-spread accounts, options trading and AvaProtect downside cover — a well-regulated all-rounder.

All-in spread pricing with no commission. Cent accounts let beginners trade tiny sizes for real-market practice; minimum deposits start low (from around $5–$100 depending on entity).

Raw spreads from 0.0 pips with a per-lot commission, plus FIX API access for advanced/algorithmic traders. STP/ECN routing.

High leverage on offshore entities (up to ~1:2000 on Cent), but UK FCA clients are capped at 1:30 on major FX under regulation. Your cap depends on the entity you sign with.

CXM holds a UK FCA authorisation (ref 966753). FCA-regulated clients get the strongest protections — segregated funds, capital rules and FSCS eligibility up to £85,000.

Most non-UK clients are onboarded under the FSC Mauritius retail-forex licence (GB21026337). This allows higher leverage but offers weaker investor protection than tier-1 regulators.

CXM states client funds are held in segregated accounts. However, independent watchdogs and some Trustpilot reviewers raise concerns about withdrawals for profitable traders — verify with a small withdrawal first.

Cards, bank transfer, e-wallets and a range of locally optimised methods (e.g. UPI in India via the local site). No internal deposit fee is advertised.

Many reviewers report fast, smooth withdrawals and helpful support. But a recurring minority of experienced/profitable traders report restricted accounts and adjusted profits. Withdraw a small amount early to test the rail.

Costs are spread-only on Standard/Cent, or raw spread + per-lot commission on ECN/FIX API. Check overnight swaps and any inactivity fee for your account type and entity.

CXM does not publish a single fixed restricted-country list; eligibility depends on the entity you sign with and on international sanctions. US clients generally cannot open accounts, and sanctioned jurisdictions (Iran, North Korea, Syria, etc.) are excluded. UK/EU residents face regulated leverage caps.