Wikilix
Contract reading

What CMV CAPITALS legally published, but does not want you to read

Every clause below is published by CMV CAPITALS itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: CMV Capitals Limited

sole discretionwithdrawalskyc freezeprofit voidingunilateral amendmentunpublished termsarbitrationbonus lockconflict of interestcounterparty

CMV Capitals publishes nine legal documents, and the Client Agreement you sign is not one of them. Its website terms say that unpublished contract beats every document it does publish. The withdrawal policy prints a heading for processing times and leaves the time blank. Its About page sells unrestricted scalping, while its Scalping Policy bans trades closed inside 180 seconds.

Back to CMV CAPITALS

Contract risk

Money at risk
8.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
6
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
17
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
13
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 17 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical6
Warning9
Notice2

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 3 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical9Time to complain. Jump to the clause this comes from.The contract you sign is not publishedCritical180In the contract. Jump to the clause this comes from.Scalping advertised, then banned under 180 seconds2000Account limit. Jump to the clause this comes from.Leverage up to 1:2000 and no loss cap

What the documents say

17 clauses worth knowing about, worst first, each quoted from CMV CAPITALS's own files

01

CMV Capitals publishes nine legal documents on its site. The Client Agreement you sign is not one of them. Its own website terms say that unpublished contract wins wherever the published documents disagree with it.

Why this matters

You cannot read the contract that decides your fees, your withdrawals and your right to complain. Four of the published documents say they form part of it. The complaint procedure sends a dispute to paragraph 16.3 of a document nobody outside the firm has seen.

Exhibit 1CriticalHarder than usual9

In case there is any conflict or inconsistent between the terms of this Website Terms and Conditions and between the Client Agreement then the Client Agreement shall prevail.
Quoted in Website Terms and Conditions, p.1
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the full terms of business before the client is bound by them. Here the governing contract is referred to in four documents and published in none.

CMV CAPITALS is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 2The scalping ban's penalty is set by the contract that is not published, so you cannot find out what breaking it costs.
  • Worse together with Exhibit 9The only published dispute route excludes clients and sends them to a clause in the document that is missing.
02

The About page sells unrestricted access for scalpers. The Scalping Policy bans any trade opened and closed inside 180 seconds on forex and metals, and 300 seconds on other CFDs.

Why this matters

A short term trader breaks this rule on the first trade. CMV Capitals says the definition sits in a contract it does not publish. Trades it calls stale it can cancel on the spot.

Exhibit 2CriticalHarder than usual180

In CMV Capitals client agreements, the definition of Scalping transactions is when traders enter and exit positions in less than 180 seconds on Foreign Exchange and Metals trades and within 300 seconds on CFD Contracts (including single name stocks, equity indices, metals, crypto CFDs).
Clause Scalping in Scalping Policy
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Under 10 secondsCMV Capitals calls the trade abusive and can cancel it immediately.Stale Trading
Under 180 seconds on forex and metalsThe trade counts as scalping, which the policy does not permit.Scalping
Under 300 seconds on other CFDsThe same ban covers shares, indices, metals and crypto CFDs.Scalping
03

CMV Capitals tells you on its Zero account page that your spreads come from leading liquidity providers. Its order execution policy says the firm deals as principal and is the only venue your trades reach.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Liquidity providers are outside banks and brokers.

Why this matters

If CMV Capitals is the counterparty, it gains when you lose. The same policy says it may price your trade using information about its clients' own orders. It also says it owes you no fiduciary duty, meaning no legal duty to put your interests first.

Exhibit 3CriticalRarely seen

In dealings between us we act as principal and not as agent on your behalf and we therefore act as the sole execution venue for the execution of your Contracts.
Clause WHAT WE CONSIDER IN DETERMINING WHETHER WE OBTAIN BEST EXECUTION FOR YOU in Summary Order Execution Policy, p.1
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a retail client in clear terms whether they deal as principal, and must identify and disclose their conflicts of interest. These two documents give opposite answers.

CMV CAPITALS is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingActing as principal is ordinary for a CFD broker, and so is saying so plainly. Publishing one policy that calls the model agency while another calls it principal leaves no way to tell which one governs your trade.

  • Worse together with Exhibit 2The firm that gains when you lose is also the one deciding which fast trades are allowed and which get cancelled.
04

The withdrawal policy keeps a heading for processing times with nothing written under it. CMV Capitals can review your account and history first, then ask for more documents. It cancels the request until the open items are resolved, and you start again.

Why this matters

No deadline binds CMV Capitals, so there is no point at which your money is late. A later section of the policy even tells you to look back at the section that was left blank.

Exhibit 4CriticalHarder than usual

2. Processing Time Frames
Clause 2 in Withdrawal and Refund Policy version, p.2
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must handle a retail client's withdrawal promptly and tell the client how long payment takes. This policy prints the heading and leaves the time blank.

CMV CAPITALS is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Request submittedYou send the request through the client portal or from your registered email.1.1
Account reviewedCMV Capitals reviews the account, its history and your documents before processing.1.6
More documents asked forThe firm can ask for anything further it wants before completing the payment.1.6
Request cancelledIf you do not supply them, the request is cancelled until the open items are resolved.1.6
Back to the startYou have to submit the whole withdrawal request again.1.6
05

CMV Capitals can open an internal investigation if it sees what it calls signs of fraud, including a refund or a cancelled payment. It can then block your account, cancel any payment or trading order, and stop trading until the investigation ends.

Why this matters

Your closed trades can be cancelled, which removes the profit on them. CMV Capitals says blocking your account gives you no claim against it. It also says it does not have to tell you why an order was refused.

Exhibit 5CriticalHarder than usual

In case of the evidence of suspicious transactions in your account, cash replenishments from untrusted sources (for example, the data of assets’ sender and Traders Room’s owner is different) and / or any actions with attributes of fraud (including any refunds or cancellation of payments), the Company reserves the right to conduct an internal investigation, to block or close your Traders Room or any account, cancel any payment or trading order and to suspend operations on the accounts before the end of the official investigation.
Clause AML / KYC rules in AML & KYC Summary
Read from the broker's site on Open the reference
  • Worse together with Exhibit 4An investigation can cancel the payment while the withdrawal review it sits inside has no deadline at all.
06

The Website Terms say the site is not directed at residents of the United States or the United Arab Emirates. The only offices CMV Capitals publishes are in Dubai, with a Dubai phone number.

Why this matters

A client in the UAE can be told later that the site was never meant for them. The restricted list in the site footer leaves the UAE out, so the pages give you different answers.

Exhibit 6CriticalRarely seen

The information on this website is not directed at residents of the United States or the United Arab Emirates
Clause Responsibility of visitors in Website Terms and Conditions, p.1
Read from the broker's site on Open the reference

Our readingA broker's restricted country list normally matches where it operates from. Here the terms exclude the one country that holds both of the company's offices and its published telephone number.

CMV Capitals may charge a withdrawal fee it never sizes

CMV Capitals' withdrawal policy says it may charge a withdrawal fee if it judges one necessary to cover its bank charges. No amount, cap or formula appears anywhere in the published documents. Charges taken by intermediary banks are left for you to find out about and settle.

Cost disclosure1 clause flagged

CMV Capitals may add a withdrawal fee whenever it judges one necessary to cover its bank charges. The policy never states an amount, a cap or a way of working it out.

Why this matters

You cannot work out what a withdrawal costs before you ask for one. Charges taken by intermediary banks are yours to find out about and settle as well.

Exhibit 7WarningHarder than usual

Client should note that some banks use intermediary banks that charges fees. This will be client responsibility to find out about and settle, and we may charge withdrawal fee if its deemed to be necessary to cover our bank charges
Clause 4 in Withdrawal and Refund Policy version, p.2
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the costs and charges of a service before the client uses it. This policy leaves both the fee and its size to the firm.

CMV CAPITALS is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Every withdrawal is a review with no deadline on it

CMV Capitals' withdrawal policy prints a heading for processing time frames and leaves it blank. Before paying, the firm can review your account, your trading history and your documents, then cancel the request until it is satisfied. Card deposits go back to the card, and the policy says the firm may return your profit by wire transfer.

Exit conditions1 clause flagged

Money you deposited by card is returned to that card, up to the amount you put in. For anything above that, the policy says CMV Capitals may return your profit by wire transfer.

Why this matters

The clause on your profit says may, not will. The only promise to send a wire applies when the card refund window has already expired.

Exhibit 8WarningHarder than usual

please note that our policy is to refund any funds back to the source of the original deposit.
Clause 1.5 in Withdrawal and Refund Policy version, p.1
Read from the broker's site on Open the reference

CMV Capitals can change the rules without telling you

CMV Capitals can amend its withdrawal policy with or without prior notice, and its website terms say it will not notify you separately of changes. Its AML page adds that the published rules are only a summary, which a local policy you have not seen can supplement. The accounts it advertises carry leverage up to 1:2000 with no promise to write off a negative balance.

Changing rules3 clauses flagged

CMV Capitals advertises leverage up to 1:2000, which means $1 can carry $2,000 of position, on accounts with no minimum deposit. Its risk warning says you can lose more money than you deposited.

Why this matters

Nothing in the published documents promises to write off a negative balance. If a loss takes the account below zero, CMV Capitals can ask you for the difference.

Exhibit 11WarningHarder than usual2000

You may need to provide further funds with little or no notice. It is possible to lose more money than you have deposited into the Account.
Quoted in Risk Warning Notice, p.1
Read from the broker's site on Open the reference
Our own capture of cmvcapitals.com, taken on Oct 14, 2026The claim, on Premium account page, account details table, on an account described as being for retail tradersVisit this page on the broker's siteDownload the full size image file

What it costsAt 1:2000, $100 of margin carries a $200,000 position. A move of 0.05% against that position uses up the whole $100.

Set against a regulated standard: FCA (UK), ASIC (Australia), ESMA (EU)

Firms licensed by the FCA, ASIC or an ESMA regulator cap retail forex leverage near 1:30 and must write off a retail client's negative balance. Neither limit appears in these documents.

CMV CAPITALS is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The AML and KYC page says it is only a summary, and that a local policy of the respective company can add rules to it. You agree to all of it irrevocably as a client.

Why this matters

Rules you have never seen can be applied to your account. Breaking this policy lets CMV Capitals end the agreement at its own discretion.

Exhibit 12WarningHarder than usual

Nothing in this summary should be understood as an immutable rule that cannot be supplemented by a local AML policy of respective Company
Clause AML / KYC rules in AML & KYC Summary
Read from the broker's site on Open the reference

CMV Capitals can amend its withdrawal policy with or without giving you notice first. Its other published documents say a change binds you as soon as it appears on the website.

Why this matters

Checking the site is on you, and the terms say plainly that the firm will not tell you separately. A term you accepted can read differently tomorrow.

Exhibit 13WarningHarder than usual

CMV Capitals reserves the right to review and/or amend this Policy and its arrangements whenever we find it necessary. We can do this with or without giving client prior notice.
Clause 5 in Withdrawal and Refund Policy version, p.2
Read from the broker's site on Open the reference

The contract CMV Capitals asks you to sign is not published

Nine legal documents sit on CMV Capitals' legal page, and the Client Agreement is not one of them. Four of the nine say they form part of it, and the website terms say it wins wherever they disagree. The complaint procedure routes an unresolved dispute to paragraph 16.3 of that same unpublished contract, after arbitration in Mauritius before three arbitrators.

Missing contract1 clause flagged

The website terms send a dispute to arbitration in Mauritius before three arbitrators. The same section says it does not apply to clients. Clients must use the method in the Client Agreement, which is not published.

Why this matters

A three member panel in Mauritius costs far more than a retail trading account, and no court nearer you is offered. The route that does bind you sits in a contract you cannot read.

Exhibit 9WarningHarder than usual3

If the matter is not resolved then the matter shall be finally resolved by arbitration under the Mauritius International Arbitration Centre rules (as amended), which are deemed to be incorporated by reference into this clause.
Clause Dispute resolution in Website Terms and Conditions, p.2
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client access to an independent ombudsman free of charge. Here the outside route is a regulator in Mauritius, followed by private arbitration.

CMV CAPITALS is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Within 2 working daysCMV Capitals sends a written acknowledgement with a reference number for the complaint.
Two months from receiptThe firm aims to reach a final decision on the complaint.
One further monthIf it cannot decide in two months, it can take up to one more month.
Four months after the decisionYou can refer the complaint to the Mauritius Financial Services Commission.
Only thenArbitration under paragraph 16.3 of the Client Agreement, which is not published.
  • Only applies after Exhibit 1The client dispute route only exists inside the document that is missing, so the published route cannot be used and the real one cannot be read.

Two CMV Capitals documents give two countries of incorporation

CMV Capitals' About page says the company is incorporated in Anguilla, company number AA000000982. Its Website Terms and Conditions say the Republic of Mauritius, and apply Mauritius law to any dispute. No client facing page gives a licence number or names a regulator for the trading business.

Counterparty1 clause flagged

The About page says CMV Capitals Limited is incorporated in Anguilla. The Website Terms and Conditions say the company is incorporated in the Republic of Mauritius, and that Mauritius law governs.

Why this matters

You cannot tell from the paperwork which country's courts hold your counterparty. No client facing page gives a licence number or names a regulator for the trading business.

Exhibit 10WarningRarely seen

This website is owned and operated by CMV Capitals Limited ('us', 'we' and 'our'), a company incorporated in Republic of Mauritius.
Quoted in Website Terms and Conditions, p.1
Read from the broker's site on Open the reference

Our readingA broker's own documents normally agree on where the company is registered. Here two published documents name two different countries, and the complaint route points at a regulator in the second one.

A quiet year puts your account back through checks

Twelve months without a transaction sends a CMV Capitals account back through customer due diligence. The firm can require a questionnaire and further documents at its own decision, and block the account while it waits. Where it suspects money laundering, nothing moves until the Mauritius authorities reply, and no outer limit is written down.

Document demands2 clauses flagged

If CMV Capitals has not done a transaction for you in over 12 months, it runs its checks again. It can demand documents at its own decision, and block the account while it waits.

Why this matters

A dormant account can be frozen when you come back to it, not when you left it. Where the firm suspects money laundering, no payment moves until the Mauritius authorities reply, and no outer limit is set.

Exhibit 14WarningStandard wording

It has not undertaken a transaction for the Customer in over 12 months;
Clause 5.7(1)(b) in AML PROCEDURES MANUAL, p.20
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
After 12 months without a transactionCMV Capitals repeats its customer due diligence on your account.5.7(1)(b)
Documents requestedThe firm can require a questionnaire and further papers at its own decision.AML / KYC rules
If you do not provide themIt can block your account while the investigation runs.AML / KYC rules
If it suspects money launderingNo transaction happens until the authorities tell the firm how to proceed.7.8(1)
  • Worse together with Exhibit 5The same investigation that holds the money is the one that can cancel a payment or a trading order without giving a reason.

CMV Capitals can pass your personal information to introducing brokers it works with. It also buys in third party marketing lists to collect information about you.

Why this matters

How long your records are held depends on which document you read: five years, six years, or ten for recorded calls. The privacy notice does not list your rights, it points you at the website instead.

Exhibit 15NoticeStandard wording

introducing brokers with whom we have a mutual relationship
Clause WHO MAY WE DISCLOSE PERSONAL INFORMATION TO? in Privacy Notice, p.2
Read from the broker's site on Archived copyOpen the reference

The document set was assembled from other firms and other regimes

CMV Capitals' anti money laundering manual answers to the Mauritius FSC while carrying a United Arab Emirates cabinet resolution and an Arabic reporting form inside it. It also states that it is for internal use only. No document in the set says client money is held separately from the firm's own money, and none names a compensation scheme.

Paper trail1 clause flagged

CMV Capitals publishes an anti money laundering manual that answers to the Mauritius FSC. The same file keeps text from another regime, including a UAE cabinet resolution and an Arabic reporting form. It also says it is for internal use only.

Why this matters

The compliance promises in this document set were not written for your account. On the legal documents page, every file icon still carries another broker's document name.

Exhibit 17WarningRarely seen

This Manual is for internal use only and must not be distributed outside the Firm without the prior approval of the MLRO.
Clause 1.2 in AML PROCEDURES MANUAL, p.4
Read from the broker's site on Open the reference

Our readingA firm's compliance manual is normally written for the regime that licenses it. This one carries another jurisdiction's law inside it, and the page that serves it labels every file with another firm's document name.

CMV Capitals publishes bonus terms nobody can read

CMV Capitals lists a bonus terms file on its legal documents page. Both pages of that file are an image, and the only text inside it is the company's name. The conditions attached to the bonus, and to any profit made with it, cannot be read anywhere on the site.

Unreadable terms1 clause flagged

The legal documents page offers a file called Bonus-20-tnc. Both pages inside it are an image, and the only text in the whole file is the company's name.

Why this matters

You cannot find out what a bonus locks up, or what happens to profit made with it, before you take one. The account pages say terms and conditions apply and point at a contract that is not published.

Exhibit 16NoticeHarder than usual

Bonus-20-tnc
Quoted in CMV Legal Documents
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The About page offers scalpers unrestricted access while the Scalping Policy forbids the practice outright.

Said in public, in English

Through its policy of providing the best possible trading conditions to its clients and allowing both scalpers and traders using expert advisors unrestricted access to its liquidity, CMV has positioned itself as the forex broker of choice for traders worldwide.

Who We Are page, opening paragraph

In the contract · clause Scalping

“Scalping” strategies are not permitted on our platform for traders.

02

The account page sells prices from outside liquidity providers while the execution policy says the firm is the only venue and the counterparty.

Said in public, in English

Receive RAW, Super-Tight Spreads from leading liquidity providers with NO hidden markups and commissions starting from a low $0.03 per 1k lot!

Zero account page, headline offer

In the contract · clause WHAT WE CONSIDER IN DETERMINING WHETHER WE OBTAIN BEST EXECUTION FOR YOU

In dealings between us we act as principal and not as agent on your behalf and we therefore act as the sole execution venue for the execution of your Contracts.

03

One policy calls the model agency and says positions are covered with other brokers; the other says the firm deals as principal.

Said in public, in English

We have an agency execution model and automatically cover all client positions with executing brokers and liquidity providers.

Scalping Policy, Idle Prices section

In the contract · clause WHAT WE CONSIDER IN DETERMINING WHETHER WE OBTAIN BEST EXECUTION FOR YOU

In dealings between us we act as principal and not as agent on your behalf and we therefore act as the sole execution venue for the execution of your Contracts.

04

The company publishes two Dubai offices and a Dubai phone number while its terms say the site is not directed at UAE residents.

Said in public, in English

UAE Office - 1 : office 205 Lathifa Tower Sheik Zayed Road Dubai U A E

Site footer, listing two Dubai offices and a Dubai telephone number

In the contract · clause Responsibility of visitors

The information on this website is not directed at residents of the United States or the United Arab Emirates

05

The published restricted country list leaves out the United Arab Emirates, which the website terms exclude.

Said in public, in English

CMV Capitals LTD does not provide services for citizens/residents of the United States, Cuba, Iraq, Myanmar, North Korea, Sudan.

Restricted Regions notice on the legal documents page

In the contract · clause Responsibility of visitors

The information on this website is not directed at residents of the United States or the United Arab Emirates

06

The About page places the company in Anguilla and the website terms place it in Mauritius.

Said in public, in English

Cmv Capitals Limited is an Forex brokerage Firm incorporated under the laws of Anguilla with company number AA000000982

Who We Are page, closing company statement

In the contract

This website is owned and operated by CMV Capitals Limited ('us', 'we' and 'our'), a company incorporated in Republic of Mauritius.

07

The retail account page advertises leverage of 1:2000 while the separate risk warning says losses can exceed the deposit.

Said in public, in English

Maximum Leverage: * 1:2000

Premium account page, account details table, on an account described as being for retail traders

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of cmvcapitals.com

In the contract

It is possible to lose more money than you have deposited into the Account.

The documents this reading is based on

13 files, all published by CMV CAPITALS. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording CMV CAPITALS publishes.

How this reading was done

Every clause above was read out of a document CMV CAPITALS publishes itself

This reading was published on .

Documents
10 of 13downloaded from the broker's site, and 10 read in full
Pages opened
31pages walked to find those documents, footer links included
Older copies
4earlier versions downloaded, 4 identical to the copy we hold by fingerprint

Who the contract is with

CMV Capitals Limited

A client contracts with CMV Capitals Limited. Its About page says the company is incorporated in Anguilla, company number AA000000982, while its Website Terms and Conditions say the Republic of Mauritius and apply Mauritius law. Its anti money laundering manual answers to the Mauritius FSC, and its complaint procedure sends unresolved complaints there. The privacy notice places group companies in Cyprus, Vanuatu and Jordan. The only addresses published are two Dubai offices and the Anguilla registered office. No client facing page gives a licence number for the trading business, and the single file in a licence folder is a picture with no text in it. The company's own front page now shows an under construction notice, and the login and register buttons on its legal pages do not reach a working sign up.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

No document in the set charges an inactivity fee, and none takes a cut of a dormant balance. The complaint procedure is better than most offshore brokers publish. It promises a written acknowledgement within two working days and a decision inside two months. It also names an outside body you can take the complaint to. The scalping policy limits its own reversals: where the firm's price feed was wrong, it says it reverses both sides of the trade and leaves your net result at zero. The anti money laundering manual also says the firm will return money it holds if it cannot finish its checks, subject to two stated exceptions.

We read ten of CMV Capitals' legal pages and files from end to end. Three could not be read. The bonus terms, the certificate of continuance and the licence file are pictures of pages with no text inside them. The anti money laundering manual does not copy out of its own file cleanly, so we read its clauses from the pages themselves. No client agreement is published anywhere on the site, so the contract that governs your account could not be read at all. Four earlier copies match today's files exactly, so those four documents have not changed since the dates we found them. No earlier copy exists for the website terms, the order execution policy or the AML and KYC page, so we cannot say when those last changed. The site is published in English only, so there was no second language version to compare.

How to check any of this yourself

Every quote above links to the CMV CAPITALS file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document CMV CAPITALS publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge CMV CAPITALS on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 14, 2026.

If you represent CMV CAPITALS and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on CMV CAPITALS. Whether its licence is real and current is a separate check on the broker profile.

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