CWM FX website down after provider Leverate pulls platform
CWM FX has pulled the forex trading function from its website after platform provider Leverate Financial Services terminated its working agreement, City A.M. understands.
Earlier this month CWM FX referred to a raid at Heron Tower in which 13 people were arrested, and later released on bail.
The company's account @CWMFX tweeted: “CWM FX is operating as normal. Merely an AML [anti-money laundering] enquiry & had no correspondence to us.” The tweet was later deleted.
The company has always denied that it was raided by the police and that it had been implicated in any investigation at all.
However, the publicity is thought to have contributed to Leverate pulling its services. Under FCA rules, CWM FX has been required to take down the website until new providers are in place.
City A.M. understands that customers were given advance warning and were able to remove their money prior to the service being pulled.
The website went down earlier today, and simply says “We are sorry for the inconvenience”. CWM FX declined to comment.