Offshore brokers impose a growing threat to global markets and investors. Cambrill is based in Saint Vincent and the Grenadines, where the financial authority doesn’t supervise the brokerage activities.
Cambrill Trading Services LLC and Cambrill Technology Ltd. are the two companies representing this broker. Neither of the firms appears in the commercial registers of the financial authorities of SVG and Seychelles. Unfortunately, we can’t confirm if those firms even exist.
The same goes for the broker’s regulation. Legal documents should be comprehensive and explanatory, not short and vague as they are at Cambril.com. The broker explains about being committed to providing the highest level of security to its platform users, but nothing guarantees it without a license.
License and Regulations of Cambrill
A regulated Forex broker has a license from a national financial authority that guarantees they provide a safe trading environment for retail and professional traders alike. That’s why it’s of crucial importance for successful trading to choose a properly regulated broker. Based on what we could find on their site, Cambrill is everything but a legitimate broker.
Legal documents that serve the purpose of introducing the broker in the legal sense and clarifying the trading conditions are inaccessible. Cambrill is forcing you to make an account and verify it with your ID to access the documents that should otherwise be public. Naturally, asking for users to verify their identity without properly presenting themselves first is absurd.
The next thing to do based on the little info we have about the company is check if they’re regulated by the Seychelles financial authority. Cambrill Technology Ltd which appears on the Cambrill website isn’t in the register of FSA (Financial Services Authority of Seychelles). So, Cambrill isn’t regulated even offshore. We’ve already clarified that the SVG regulator doesn’t license Forex brokers.
What was left to do is check the commercial registers of other regulators. We searched the databases of FCA, CySEC, AISC, IIROC, NFA, BaFin, CONSOB, and CNMV only to find out that Cambrill isn’t regulated by any entity.
Missing regulation means the broker doesn’t provide security of funds through segregated accounts. Leverage of 1:100 witnesses the fact that Cambrill doesn’t restrict the leverage as a risk-reduction method. A further conclusion is that there can’t be negative balance protection provided, client compensation plan, and transparency standards.
The epilogue of our research is that Cambrill is not a regulated broker. This offshore agency is a scammer only looking to defraud you!
Trading Platform Available at Cambrill
All the advertising Cambrill would suggest they provide a premium trading terminal. The truth you face after registering an account is not as breathtaking as anticipated. Screenshots from the site imply a distribution similar to the famous MT4 but it’s all an illusion to lure traders into the investment trap.
The only trading software solution available is a simple web-based platform. Several unresponsive charts only have a decorative purpose and their functionality is deceptive.
Evidently, the scammer uses the terminal in manipulative ways to show traders amiable results. All unscrupulous activities are directed at driving traders into more investing.
The best way to do that is with the help of a trading terminal that gives investors exactly what they hope and expect to see.
Regulated brokerage houses trusted across the globe install prestigious platforms like MetaTrader 4 and MetaTrader 5. Integral parts MT4 and MT5 are the latest technological achievements that bring traders an enhanced trading experience wholly.
Deposit and Withdrawal Methods
If you’re surprised to learn about Cambrill only accepting crypto deposits, don’t be. The most efficient technique for scammers to remain anonymous is enforcing the funding via digital currencies.
The lack of transparency is especially noticeable in regard to the depositing and withdrawing of funds. The initial deposit required is unknown. Withdrawal processing time and possible fees and charges are also a mystery. It’s unacceptable agreeing to trade without knowing these circumstances prior to investing.
In contrast to that, regulated brokers allow transactions through safe and dependable methods like credit cards, wire transfers, and popular E-wallets.
Offshore Brokers Fraudulent Tactics
Sweet-talking yet deceptive and lying, fraudsters have the capabilities necessary to get into your head and make your deposit. Without underestimating anyone’s judging abilities, we still have to point out that less experienced traders are the preferred targets.
While everyone has dreams of becoming rich overnight, novice traders are manipulated easier due to lacking trading experience. Scammers promise dedicated account managers or automated trading robots to shift the pressure from victims and convince them all that’s needed is their capital.
To sound more believable, cons will take up names and identities of highly respected experts and companies. Cloning other firms, stealing their regulatory information, made up awards are all present.
Needless to say, none of the investments will yield a profit. Only for the scammer that has stolen the clients’ hard-earned money.
The Best Brokers for Forex
We can’t tell you exactly which broker would be the best for you. That is up to you to decide depending on what you look for in a broker.
Some brokers offer vast educational material, which makes them a top choice for novice traders. Others offer trading platforms with dedicated mobile apps containing an abundance of features and impressive designs for trading on the go.
There are brokerage sites with access to most markets and the widest range of trading instruments. The firms we have selected have great pricing, multiple account types, reliable platforms, and attractive overall offers.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Cambrill is unregulated and not safe for investing, our review clearly proves that. To summarize it, we have to mention once more that every broker has to own a license to be trustworthy enough. No amount of advertising and promises can make up for a missing regulation.
Regulatory standards brokers follow are put together to prevent unethical business conduct. Buying and selling products knowing your funds are protected and the trading environment works in your favor brings the traders necessary peace of mind.
A sleek, unified trading experience is what every investor ultimately aims for. Cambrill is not a broker that can bring you this. You would be wise to choose a regulated broker instead of a financial swindler that operates only with the goal of defrauding clients.
FAQs About Cambrill Broker
Is Cambrill Regulated?
No, Cambrill is an unregulated offshore brokerage agency without authorization for the services they claim to provide.
What is The Minimum Deposit for Cambrill?
The official website does not disclose any information considering deposits and withdrawals. The minimum deposit amount, fees, and processing time are undisclosed.
Is Cambrill a Trustworthy Broker?
Cambrill can’t guarantee the safety of funds, enhanced customer protection, and transparency of transactions. They aren’t safe or trustworthy.