Klimex CM – In-Depth Review and Trader Comments

Klimex Capital Markets is a company registered in Australia with the Australian Company Number: ACN 605 630 644. The company acts as the authorized representative of Vantage Global Prime Pty Ltd. The brand is authorized and regulated by the Austrian Securities and Investment Commission (ASIC) with the license; AFSL 428901.

The official website (www. klimexcm.com) is available in 10 languages. The broker states clearly that every information on the website is meant for clients from Australia. But, prospective traders are accepted from all over the world without any stated restrictions.

True ECN spreads starting from 0.0: Klimex Capital Markets has partnered with reputable banks and liquidity providers across the world. This guarantees deep liquidity and transparency. As a result, the broker is able to offer raw ECN spreads as low as 0.0. The commissions charged on trades are equally low.

ASIC Regulation: The Australian Security and Investment Commission (ASIC) is a highly regarded regulatory body in the forex market. Klimex CM is as an ASIC-regulated broker, thus providing traders with a safe and transparent environment.

Up to 25% Trading Bonus: Klimex Capital Markets offer its clients a bonus of up to 25 % for deposits between $1,000 to $200,000 on standard account. This is to encourage investors and also help them increase their trading capital.

Multilingual Customer Support: The customer care available on Klimex Capital Markets is available 24hrs, 5 days a week. The customer support desk speaks Mandarin, English, Filipino, Spanish, Italian, Polish and Thai. The support desk can be reached on instant web chat and email.

Fast Executions: Klimex Capital Markets states that it has lightning speed order executions because of its fibre optic network which delivers excellent speed. Fast executions ensure that clients take advantage of every market opportunity as there are no re-quotes.

- Limited Number of Tradable Assets: Only 4 asset classes are available; forex, indices and commodities. This is limited when compared to other brokers that offer additional classes like shares, bonds and cryptocurrencies.

No Training Materials: Klimex Capital Markets did not provide any trader educational material for its clients. There are no training videos, eBooks, glossary and articles that can help a beginner to learn how to trade.

Klimex Capital Markets offer only 4 assets classes. They are forex, indices and commodities. This is very limited when compared with other ECN brokers. Klimex Capital Markets features 36 currency pairs, 7 indices and 7 commodities, 6 cryptocurrencies as the only trading assets offered on its platforms.

The following trading platforms are provided for Klimex Capital Markets clients:

• MT4
• WebTrader
• MAM/PAMM
• Myfxbook AutoTrade

The MT4 is the most widely used platform among forex traders. It is available in various forms. The desktop version can be downloaded and installed on a windows PC as well as a MAC computer. It has multiple tools for technical analysis, order management and account management. It features a MetaTrader market where forex robots, indicators and other trading tools can be bought or acquired at no cost. The MT4 has 30 in-built indicators and multiple custom indicators. 9 timelines, drawing tools and multiple charts are some of the features of this trading platform.

The WebTrader provided by Klimex Capital Markets is still the same MT4, but in a web-based format. The difference is that this WebTrader requires no downloads and installations. This is because it runs on the web browser and on all devices. All operating systems are supported by the WebTrader. It is accessible via a link on the Klimex Capital Markets website.

A Multi Account Manager Solution MAM/PAMM is available for Klimex Capital Markets clients. The brand states that it teamed up with MetaFx to create a superior MAMM console. It is capable of managing unlimited trading accounts as well as allowing Expert Advisors (EAs) to automatically trade the managed accounts. It can execute group orders from the main control screen and also implement full Stop Loss, Take Profit and pending order functions. All trading styles are allowed which includes hedging and scalping.

Klimex Capital Markets has partnered with Myfxbook AutoTrade to provide its clients with social trading. Myfxbook AutoTrade service is a popular online copy trading services with over 90,000 users. Interested clients will have to register an account and the link the account to Myfxbook AutoTrade. A unique live MT4 trading account specifically designed for Auto Trading will be made available to the client.

The MT4 trading platform is available as downloadable apps for the android and iOS mobile devices. The link to download the apps from their respective stores can be found on the Klimex Capital Markets website. With the mobile MT4 app, trading on the go is fast and easy. The apps have features for monitoring the market news, live quotes, order and account management, as well as tools for technical analysis.

Klimex Capital Markets provide its client with a demo account. This is very important for platform testing, familiarization with broker trading conditions and general practice. It is very fast and easy to open a demo account. Only a one-page form is required. Click on “Trial Demo” found on almost every page of the website. Fill the resulting ‘Demo Account Sign Up’ Form and click ‘submit’. The demo account will be opened with a virtual balance of $100,000. The MT4 platform download link, account id and password details will be sent by email. Upon request you can apply for a raw demo account with interbank fx spreads starting from 0 pips.

Two types of accounts are offered by Klimex Capital Markets. They are:

The Standard Account: The minimum balance required is $100 and the maximum leverage is 1:500 with balance of USD/EUR 500. For lower balance maximum allowed leverage is 100. The spread is higher in this account type. The spread for the benchmark EURUSD currency pair is 1.8 pips. No commissions are charged.

The Raw Account: The spreads on this account type are lower but commissions are charged in addition to the spread charges. For the benchmark EURUSD, the spread is 0.3 pips with additional commission of $/EUR 7 per lot. $100 is the minimum account opening balance and the maximum leverage is up to 1:500 with balance of EUR/USD 500. For lower balance maximum allowed leverage is 100

To open a live account, click on “Register Live Account” found under the “Clients” menu which is on the main menu bar. It can also be done by clicking the “Open Account” button found on most pages of the broker’s website. The “Acknowledgement page” is the first to display. The prospective client has to admit that he has read and understood the Financial Service Guides, terms and conditions and private policies from both Vantage Global Prime Pty Ltd and Klimex Capital Markets. Then, a form requesting personal and financial details is next.

The prospective client is expected to input his personal details, contact details, and the source of funds. On completing the form, the account is opened and the login details are sent by email. The client is then requested to submit KYC documents which include a proof of id and a proof of residence. This is done by simply uploading a government issued identity card and a recent utility bill.

Klimex Capital Markets states that withdrawals are fast and easy. There are no internal withdrawal or deposit fees. However, their bank, the National Australia Bank (NAB) may charge fees which are passed on to the client.

Withdrawal requests are initiated from the clients’ area and are processed on the same business day. In compliance to the Anti-money laundering policy, clients may be requested to provide further documentations before a withdrawal request is approved.
The withdrawal methods include the following:

• Credit/Debit Cards: Only the Visa and Master Cards are acceptable.
• Bank Wire Transfers: NAB Swift international wire withdrawal transfer fee is $20 but free for Australian banks.
• Skrill
• Neteller

Unfortunately, Klimex Capital Markets does not provide any training resources for its clients. This is unlike other brokers that usually provide an educational suite consisting of training videos, articles, eBooks, webinars and a glossary.

Research and analytical tool are also not provided. However, there is a daily blog that dwells on the forex and CFD markets, news, analysis and predictions.

Yes! Klimex Capital Markets is a regulated broker that abides by the stringent regulatory laws stipulated by ASIC. Traders’ deposits are secured in segregated bank accounts. Tight spreads and low commission are offered to clients. Trading accounts are easy to open and can be funded easily using various methods. The MT4 platform provided is perfect for analysis, trading automation and sophisticated functions. Clients can copy the trades of expert traders using the copy trading features provided through Myfxbook Autotrade. Transactions are swift and efficient. However, there are no training or research materials provided.

In summary, Klimex Capital Markets is a recommended broker for forex and CFD trading.