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Klimex CM is an authorised trading name of Vantage International Group Limited. Vantage International Group Limited is regulated by the Cayman Islands Monetary Authority (CIMA), Securities Investment Business Law (SIBL) number 1383491. www.klimexcm.com is operated by Vantage International Group Limited.
Trading assets include 36 currency pairs (the most liquid pairs), 7 global indices, and 7 commodities. The typical spread for the EUR/USD pair is 1.8 pips in the Standard account and 0.6 pips in the Raw account. The company announces that it collaborates with prime liquidity providers who are able to guarantee the most transparent and accurate fills for market orders.
Customers can trade through the well-known MetaTrader 4 (MT4) terminal. Suitable for all types of trader, MT4 provides built-in indicators, advanced charts, one-click trading, account management, and a built-in economic calendar. In addition, you can use available expert advisors (EAs) or can create new ones for your automated trading. MT4 can be downloaded as a desktop application for PCs and Mac machines or as a mobile app for iOS and Android devices. Moreover, you can trade directly from your web browser without having to install any software.
Klimex Capital Markets has cooperated with Myfxbook AutoTrade and provides one of the most popular copy trade services – Myfxbook’s AutoTrade. It is an account mirroring service where you can copy trades from top successful trading systems. The Myfxbook AutoTrade service is an online trade copying platform with more than 90,000 users. You will have access to in-depth analysis and statistics. The company claims that system and signal providers must be verified and have a successful track record before being approved by Myfxbook.
There are two types of accounts – Standard and Raw. The standard account offers commission free trading with wider spreads, while the Raw account provides close to zero spreads at the expense of a commission of USD6/lot. Both accounts require at least USD100 to open. Klimex clients can fund their account by bank transfer, credit, or debit cards, UnionPay, Skrill and Neteller.
The Client Agreement document shows that the trading systems of the company are designed with safeguards to protect clients from encountering negative balances when trading under normal market conditions. If a client incurs a negative balance due to a “market gap”, the client should inform the company support team. It will evaluate the inquiry and at its discretion, may credit the client’s account with the amount of the negative balance where the debit was during the course of normal trading activity. So, you are covered by negative balance protection but there is a recovery procedure. The same document reveals that pending orders are filled as soon as possible at the price obtainable in the market. Limit and stop orders are therefore not guaranteed executable at the specific level or amount.
The Best Execution Policy document informs that on certain occasions at the time that an order is presented for execution, the specific price requested by the client may not be available; therefore, the order will be executed close to or a number of pips away from the client’s requested price. This means all orders are subject to slippage and the company warns that slippage is a normal market practice under certain conditions such as low liquidity and high volatility during news announcements, economic events, market openings, etc.
The Key Facts Summary document shows that the company acts as a market maker. Given that the company is offshore, being a market maker allows it to act directly against customer positions for its own benefit.
Overall, Klimex CM is a typical offshore company that offers attractive trading conditions such as higher leverage (up to 1:500), tighter spreads, negative balance protection and low initial deposit. However, offshore regulation is not as strict as European regulation, for example. Be careful if you decide to trade with this company, because despite the attractive conditions, you may have problems with withdrawing your money.