What is CXM Direct? A CXM Direct review: legal entity, accounts, leverage, deposits and withdrawals

CXM Direct is a brand of the CXM group, a CFD broker with subsidiaries in the UK, Mauritius, Seychelles, the UAE, Cambodia and St. Vincent & the Grenadines. This review was written in 2023 and rewritten in full on Sep 14, 2026 from the CXM website (cxmvn.net), the Terms of Service and the KYC Policy issued by CXM Direct LLC.

The questions that matter most when you assess a broker are: which company signs the agreement with you, whether that company holds a brokerage license, how your money is protected, and what the trading conditions really are. This article follows exactly those questions.

How to choose a safe Forex broker

Quick summary (Sep 14, 2026):

• The Terms of Service on cxmvn.net govern the relationship between the client and CXM Direct LLC, a company registered in St. Vincent & the Grenadines, which holds no brokerage license. The company in the group that is licensed by the FCA (CXM Prime Ltd) serves professional clients only.
• Accounts: Cent (from 10 USD), Standard (50 USD), ECN (100 USD), ZERO (1,000 USD), FIX API (50,000 USD), plus an Islamic account; margin call 120%, stop out 30%.
• Leverage up to 1:2000; on the Standard and ECN accounts only there is “unlimited” leverage when you qualify. The broker cuts leverage around news releases, at the end of the day and over the weekend.
• Platforms: MT4, MT5, Web Terminal and CXM Trader; copy trading, PAMM, Trading Central and a VPS are available.
• In Vietnam, trading Forex through a foreign broker is not protected by law.

An overview of CXM Direct

According to the About Us page, CXM was founded by a team with experience in Asia-Pacific, Europe and the United States, focusing first on institutional clients (B2B) and later expanding to retail clients. The 2023 version of this article said CXM Direct had been operating since 2015; the current About page gives no founding year.

The cxmvn.net website presents awards, an IB (introducing broker) partner program and the CXM Earn program. Awards are marketing material; they tell you nothing about how far your money is protected. You can look at the CXM website and client area for yourself through the CXM Direct sign-up link.

Legal entity and licenses

From the Licenses & Regulation page on cxmvn.net on Sep 14, 2026:

Which company do you sign the agreement with?

The Terms of Service on cxmvn.net open with this sentence: these terms govern the contractual relationship between CXM Direct LLC and the client. The KYC Policy is issued by CXM Direct LLC as well. So a client who signs up through this website most likely signs the agreement with CXM Direct LLC.

The financial regulator of St. Vincent & the Grenadines has stated several times that it neither licenses nor supervises Forex brokerage. What follows from that:

• The compensation and dispute-resolution mechanisms that come with an FCA license do not apply to clients of CXM Direct LLC.
• The Terms of Service name no external dispute-resolution body; in a dispute you mostly depend on the policy of the broker itself.
• The “Fund Protection” page says “The CXM Direct Group is an FCA-regulated broker”. That sentence is easy to misread: the company licensed by the FCA is CXM Prime Ltd, and that company does not take retail clients.

How to check: read the name of the legal entity in the agreement when you sign up, look the license number up on the website of the regulator, or email support@cxm.com and keep the answer. A detailed analysis: Is CXM Direct safe?.

How client money is protected

From the Fund Protection page and the Insurance page:

• Segregated accounts: client money is held in separate accounts at banks CXM describes as “top tier”; the page does not name the banks.
• Negative balance protection: CXM undertakes that a client will not lose more than the account balance.
• Insurance: risk and professional indemnity insurance for Forex and CFD brokerage, placed through the insurance broker Howden in the Lloyd’s market, with a limit of 5,000,000; the Insurance page gives the currency as pounds sterling in one place and as USD in another. This insures the operations of the company; it is not an undertaking to refund individual clients.

Those undertakings come from the broker itself; with a legal entity that holds no brokerage license, no regulator checks that they are honored.

The account types

From the Account Types page on Sep 14, 2026:

Common to all of them: minimum position size 0.01 lots; margin call at 120%, stop out at 30%; EAs and scalping allowed; the page states that no swap is charged. There is also an Islamic account, and a CXM Trader account for the CXM Trader platform. The Standard Bonus account named in the 2023 version of this article is no longer in the table.

The account page publishes neither the spread nor the commission for each type. The product pages do carry a spread table per symbol; figures as of Sep 16, 2026: EURUSD 0.00004 (0.4 pip), GBPUSD 0.00009 (0.9 pip), USDJPY 0.005 (0.5 pip), XAUUSD 0.07 USD per ounce (about 7 USD for 1 lot of 100 ounces). The table does not say whether those are minimum or typical spreads, nor which account type they apply to, and the commission is nowhere on the website. Measure the spread yourself on a demo account of the same type, and ask support what commission the ECN and ZERO accounts charge, before you choose. A detailed comparison: CXM Direct account types.

Leverage

Maximum leverage falls as the equity in the account rises (Leverage Policy, Sep 14, 2026):

• “Infinite” leverage: the Standard and ECN accounts only, and only after at least two trades; it does not apply to most exotic currency pairs, cryptocurrencies, energies, base metals, index baskets or shares. With a balance up to 500 USD it is 2,000,000:1, from 501 to 1,000 USD it is 50,000:1, and above that the normal table applies again.
• Reduced leverage on new positions: 1:200 for roughly 3–5 minutes before and 1 minute after a major news release; 1:100 for roughly the 10 minutes before the daily session close, and in the last hour before the market closes on Friday.
• The product tables give leverage per symbol: shares and investment baskets 20:1, cryptocurrencies 10:1, indices from 20:1 to 200:1.

High leverage only lets you open a larger position relative to your equity; it does not reduce risk. Worked examples of margin call and stop out, and how to use leverage more safely: Unlimited leverage at CXM Direct.

The products you can trade

CXM offers CFDs on the following product groups (counted from the table on each product page on Sep 14, 2026):

The CXM Trader page says more than 1,000 CFD products can be traded (read on Sep 25, 2026; on Sep 14, 2026 the older page said more than 900, and its FAQ more than 300); the real number depends on the platform.

Trading platforms and tools

• MetaTrader 4 and MetaTrader 5: desktop and mobile builds, plus a Web Terminal that runs in the browser. See “What is MT4?”.
• CXM Trader: the new web trading platform of CXM, with more than 100 technical indicators, a performance dashboard and a trading journal; the mobile app is marked “coming soon”. CXM Trader does not replace MT4 or MT5.
• TradingView: according to the partnership announcement of Aug 3, 2026, you connect a CXM Trader account to TradingView (pick CXM from the broker list; no paid plan needed). See What is CXM Trader?.
• Social trading (copy trading) and PAMM: manager and investor roles, with statistics tables and rankings; a signal provider sets its own minimum balance and performance fee.
• Trading Central: technical analysis, price targets, and indicators you install into MT4/MT5.
• A VPS for running an EA around the clock, and an economic calendar.
• CXM Earn: an eligible balance in the CXM wallet accrues a reward daily, paid weekly; the reward rate rises with trading volume. Because the program ties the reward to trading volume, it can easily encourage more trading than you need; read the terms before you join.

Each platform in detail, and the risks of copying the trades of someone else: CXM Direct trading platforms.

Deposits and withdrawals

On Sep 14, 2026 the CXM website listed these payment methods: Visa, Mastercard, international bank transfer, Bitcoin, Ethereum, Tether (USDT), Sticpay and Neteller. The website has no table of limits, processing times or fees for deposits and withdrawals; the Customer Service page says only, in general terms, “a diverse choice of deposit methods” and “fast withdrawals”. The 2023 deposit and withdrawal table in the old version of this article (VND bank transfer, Perfect Money, the HELP2PAY gateway, PAYMENTASIA) is no longer on the website and has been removed.

Rules in the Terms of Service and the KYC Policy of CXM Direct LLC:

• Verification has to be complete before you can withdraw: every account has to submit a full KYC file and be approved before a withdrawal request is processed.
• No third-party money: deposits and withdrawals by bank transfer must use the same bank and be in the name of the client.
• Withdrawals go back to the source you deposited from: a withdrawal request is always processed back to the original funding source; bank transfer is the default unless CXM agrees to another method in writing.

Sending money out of Vietnam to trade Forex with a foreign broker may breach foreign exchange control rules; depositing and withdrawing in cryptocurrency carries the further risk of sending to the wrong network and losing money you cannot recover. The steps for opening and verifying an account: How to open a CXM Direct account.

Customer support

From the Contact page: support works 24/5 by email at support@cxm.com, and there is also a compliance address, compliance@cxm.com, a sales address, sales@cxm.com, and a contact form; the Customer Service page says support is available by email, phone and live chat. The Contact page publishes no phone number and no support channel per language.

The pros and cons of CXM Direct

Pros

• Several account types, including a Cent account from 10 USD for practicing with a small amount.
• A wide range of products and platforms: MT4, MT5, Web Terminal, CXM Trader; copy trading, PAMM, Trading Central and a VPS.
• The leverage policy is published reasonably clearly, including the windows when leverage is cut.
• Negative balance protection and professional indemnity insurance (as published by the broker).

Cons

• A client who signs up through cxmvn.net contracts with CXM Direct LLC in St. Vincent & the Grenadines, which holds no brokerage license; the company that does hold an FCA license does not take retail clients.
• No published spread or commission per account type, and no published limits or processing times for deposits and withdrawals.
• Leverage up to 1:2000, and “infinite” on a small account, which is very risky for a beginner.
• The website contradicts itself in places: the currency of the insurance limit, the UAE license number between the footer and the Licenses page, the number of products on CXM Trader; and the Fund Protection page calls the whole group “FCA-regulated”.

Frequently asked questions about CXM Direct

Is CXM Direct a scam? Can it be trusted?

The CXM group has licensed subsidiaries in the UK, Mauritius, Seychelles, the UAE and Cambodia, but a client who signs up through cxmvn.net contracts with CXM Direct LLC, a company with no brokerage license, and in Vietnam the law does not protect you in a dispute. Read the agreement, start with a small amount and try withdrawing part of it. Be wary of anyone who claims to work for the broker and offers to manage your money for you or asks you to transfer money to a personal account: see how to spot Forex scams.

How much is the minimum deposit?

It depends on the account type: Cent 10 USD, Standard 50 USD, ECN 100 USD, ZERO 1,000 USD, FIX API 50,000 USD.

Can everyone use the maximum leverage?

No. Leverage depends on the account type, the product, your equity and the time; “infinite” leverage exists only on the Standard and ECN accounts with a balance up to 1,000 USD, and only after at least two trades.

What is the lot size on MT4 and MT5?

On an ordinary account, 1 Forex lot is 100,000 units of the base currency, 0.1 lots is 10,000 units and 0.01 lots is 1,000 units. The Cent account uses a smaller cent lot; check the contract specification of each symbol on the platform. How it is worked out: “What is a lot?”.

How do I see every product I can trade?

In the Market Watch window in MT4/MT5, right-click and choose “Show All” to list every symbol your account can trade.

How long does a withdrawal take?

The website does not publish processing times per method. Under the Terms of Service, money is withdrawn back to the source you deposited from, and only once your KYC file has been approved; withdraw a small amount to find out how long it really takes.

More CXM Direct guides

• How to open a CXM Direct account and verify your identity
• CXM Direct account types: Cent, Standard, ECN, ZERO — which should you choose?
• Is CXM Direct safe? Legal entity, licenses and how your money is protected
• Unlimited leverage at CXM Direct
• CXM Direct trading platforms: MT4, MT5, copy trading, PAMM
• What is CXM Trader? The new web platform from CXM

Legal status in Vietnam

Whichever country a broker is licensed in, trading Forex through a foreign broker is not among the foreign-currency transactions permitted under Vietnamese law. It risks being treated as a breach of foreign exchange control rules, and in a dispute Vietnamese law does not protect you. See Is Forex trading legal in Vietnam?.

Conclusion

CXM Direct offers several account types, a wide product range and several platforms, together with a very high leverage policy. The thing to remember above all is that a client who signs up through cxmvn.net contracts with CXM Direct LLC in St. Vincent & the Grenadines, which holds no brokerage license, and that the broker does not fully publish its trading costs or its deposit and withdrawal conditions.

If you have weighed all of that up and still want to try, start on a demo or Cent account, pick low leverage, deposit a small amount through the CXM Direct account opening link, and try withdrawing part of it before you deposit more.