LeapRate has learned that the website of retail forex broker CWM FX has been taken down. Appearing now at cwmfx.com is a ‘We are sorry for the inconvenience’ page (see screenshot below), a Customer Support email and telephone contact, and a customer login button.
A call to the Customer Support number listed on the (new) home page was indeed answered. We were told that the website is ‘under construction’, and that they had no idea when it might be back up.
Readers of LeapRate will recall that CWM FX was named by several UK publications as the financial firm which had its offices raided by the London police fraud squad earlier this month, resulting in the arrest of 13 employees. The arrests were related to suspicion of money laundering, as well as fraud by false representation and conspiracy to defraud. Although a police operation, the raid was supported by the UK’s financial regulator the Financial Conduct Authority (FCA).
CWM recently signed a long term deal (through 2018) to be an official sponsor of Chelsea FC. CWM also sponsors the London Boat Show, LCR Honda MotoGP, and Wigan Warriors Rugby. As we quoted the London Evening Standard in our Heron Tower raid article, ‘If you’re into Chelsea FC, sailing or boxing, you may have heard of CWM, which sprinkles sponsorship around like confetti.’