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Suspicious Clone
Score
1.08 /10
Danger
CIMD
Within 1 yearSuspicious Regulatory License
High potential risk
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Comparison
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Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index3.67
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
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40G
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Warning: Low score, please stay away!
3
Previous Detection :
2024-09-30
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The United Arab EmiratesDFSA regulation (license number: F001383) claimed by this broker is suspected to be clone. Please be aware of the risk!
WikiFX Verification
CIMD is a new online broker registered in United Arab Emirates, offering over 250 trading products to trade through their five types of accounts. It offers 24/7 customer service to contact. But there is a main problem that their license of DFSA is regarded as fake clone.
Pros and Cons
| Pros | Cons |
| Over 250 class assets | Suspected fake clone license of DFSA |
| 24/7 customer service | High minimum deposit except the Test account |
| Low spreads from 0.0 pips | No information related to deposit and withdrawal |
| No social media presence |
Is CIMD Legit?
CIMD claims that it is regulated by the Dubai Funancial Service Authority (DFSA) with license type of Retail Forex License and license number of F001383. But now it is suspected as fake clone one.
| Regulatory Status | Suspected Fake Clone |
| Regulated by | United Arab Emirates |
| Licensed Institution | CIMD (Dubai) Limited |
| Licensed Type | Retail Forex License |
| Licensed Number | F001383 |
What Can I Trade on CIMD?
CIMD offers currency, precious metals, stocks, commodities, stock indices and cryptos.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ✔ |
| Precious Metals | ✔ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type & Leverage
CIMD offers Test, Beginner, Standard, VIP, and Corporate accounts with the minimum deposits of €100, €2,000, €50,000, and €150,000 respectively. The Corporate account does not require the minimum deposit.
Besides, each account offers flexible leverage: 1:20 for the Test account, 1:30 for the Beginner, 1:40 for the Standard account, 1:50 for the VIP account and 1:100 for the Corporate account.
CIMD Fees (Spreads)
CIMD offers different spreads for their accounts. The offers the spreads from 0.8 pips for the Test account, from 0.6 pips for the Beginner account, 0.5 pips for the Standard account, and 0.4 pips for the VIP accounts. For the Corporate account, it offers floating spreads.
| Account Type | Spread (pips) |
| Test Account | 0.8 pips |
| Beginner Account | 0.6 pips |
| Standard Account | 0.5 pips |
| VIP Account | 0.4 pips |
| Corporate Account | Floating spreads |
Customer Service
CIMD offers 24/7 customer service through phone and email.
| Contact Options | Details |
| Phone | UK: +441668320001/ UAE: +97145865689 |
| support@cimdltd.net / info@cimdltd.net | |
| Support Ticket System | ❌ |
| Online Chat | ❌ |
| Social Media | ❌ |
| Supported Language | English, Arabic |
| Website Language | English, Russian |
| Physical Address | Unit OT 19-32, Level 19, Central Park Offices, DIFC, PO Box 506776, Dubai, UAE |
The Bottom Line
CIMD assists its clients in trading on financial markets using leverage via CFDs. It offers five types of accounts with lower spreads and flexible leverage ratios. However, CIMD is now not regulated well and their minimum deposits are rather high, which are not suitable for beginners.
FAQs
Is CIMD safe?
No. Its license of DFSA has been suspected as fake clone.
What security measures does CIMD have in place to protect my funds and personal information?
It claims to provide the protection of customer funds by placing deposits on segregated accounts.
How much time will it take to confirm and process my withdrawal request?
Typically 1-3 business days.
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