CXMarkets

Overview of CXMarkets

CXMarkets, established in 2015 and based in the United States, is a unique financial services provider that offers a platform for trading weather-related financial products. It allows investors to hedge against or speculate on weather-related risks through various contracts linked to weather events. As an unregulated entity, CXMarkets operates without the oversight of traditional financial regulatory authorities, which may present certain risks for traders. The company provides a range of services including trade execution, clearing and settlement, and market information, along with API access for seamless integration. Despite its lack of regulation, CXMarkets offers comprehensive customer support and educational resources to assist participants in navigating the niche market of weather-related financial trading.

Is CXMarkets Legit？

CXMarkets is not regulated by any recognized financial regulatory authority. As an unregulated broker, it operates without oversight from regulatory bodies that are responsible for ensuring compliance with industry standards and protecting the interests of traders. This lack of regulation raises concerns about the safety and security of funds, as well as the transparency of the broker's business practices.

Pros and Cons

CXMarkets stands out for its innovative approach to financial markets, offering unique weather-related financial products that cater to a niche segment of traders interested in hedging against or speculating on weather events. The platform's lack of trading fees for deposits and withdrawals is a notable advantage, along with its comprehensive customer support and educational resources. However, the lack of regulatory oversight raises concerns about the security of funds and transparency of operations, which could deter potential users seeking a more traditional and regulated trading environment.

Products and Services

CXMarkets provides weather-related financial protection products, a trading platform for these products, trade execution services, financial clearing and settlement, market information, and API access for market integration.

Fees

CXMarkets has the following fee structure:

- Account Fees:

- Application Fee: None

- Deposit & Withdrawal Fee: None

- Monthly Inactive Account Fee: $2.00 (suspended as of 8/1/2020)

- Daily Rain, Snow, Temperature and Landfall Markets:

- Trading Fees: $0.02 to $0.10 per contract, depending on the proximity of the storm to the forecast location and the number of trading days prior to settlement.

- Settlement Fees: Less than $0.01 per contract.

- Weekly Rain Markets:

- Trading Fees: No fee for buy orders, $0.02 for sell orders.

- Settlement Fees: No fee.

- Forex & Metals and Monthly Rain Markets:

- Trading Fees: No fee for market and certain limit orders, $0.01 for other limit orders.

- Settlement Fees: No fee for out-of-the-money settlements, $0.01 for in-the-money settlements.

Deposit & Withdrawal

CXMarkets supports funding through direct bank transfers via ACH, with bank wire options for amounts over $500 for faster clearance. Withdrawals are processed via ACH. There are no minimum funding amounts or fees for deposits and withdrawals, but funding operations follow standard banking work days.

Customer Support

CXMarkets offers detailed customer support through various channels:

- Trading and Participant Support:

- Phone: +1 212-829-5440

- Email: participants@cantorexchange.com

- Availability: Sunday 6:30 PM ET to Friday 4:00 PM ET

- General Inquiries, Customer Service, and New Accounts:

- Phone: +1 877-300-4555, +1 212-829-5455

- Email: customerservice@cantorexchange.com

- Availability: Monday through Friday, 9:00 AM to 5:00 PM ET

- Compliance Questions:

- Email: compliance@cantorexchange.com

- Media Relations:

- Contact: Karen Laureano-Rikardsen

- Phone: +1 212-829-5459

- Email: press@cantorexchange.com

- Headquarters:

- Address: CX Futures Exchange, L.P., 499 Park Avenue, New York, NY 10022

Educational Resources

CXMarkets provides educational resources that include regulatory updates from the CFTC, exchange and clearinghouse rules, daily activity reports, notices to participants, and landfall announcements.

Conclusion

CXMarkets offers a unique proposition in the financial market with its weather-related financial products, appealing to traders looking for niche opportunities. The absence of fees for deposits and withdrawals, along with strong customer support and educational resources, enhances its attractiveness. However, the lack of regulatory oversight is a significant drawback, introducing potential risks related to security and transparency. Prospective users should weigh these advantages against the disadvantages before engaging in trading activities on the platform.

FAQs

Q: What type of products does CXMarkets offer？

A: CXMarkets specializes in financial products linked to weather events, allowing traders to hedge or speculate on weather-related risks.

Q: Are there any fees for using CXMarkets？

A: CXMarkets does not charge fees for account applications, deposits, or withdrawals. Trading fees vary depending on the contract, ranging from $0.02 to $0.10 per contract.

Q: How can I fund my CXMarkets account？

A: You can fund your account through direct bank transfers using ACH or opt for bank wires for larger transactions requiring quicker clearance.

Q: Is CXMarkets regulated by any financial authority？

A: No, CXMarkets is not regulated by any recognized financial regulatory authority, which raises concerns regarding the security and transparency of its operations.

Q: What kind of support does CXMarkets provide to its users？

A: CXMarkets offers comprehensive support through phone and email for trading inquiries, general questions, and compliance issues. There is also specialized support available for media relations.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.