Jump to content
dmiles

Fair warning regarding CMEG lack of customer service

Recommended Posts

Getting tax statement from CME was a hassle.  I called they would put me on hold,  they would tell me they will call or email me information.  It took two weeks of constant calling (direct calling), emailing and finally, when I said i need a contact name for my attorney to contact, they sent me the information.  I closed my account months ago with them, but I am considering U.S. based broker.  Not worth the frustration.  not happy at all!

Share this post


Link to post
Share on other sites
On 2/8/2020 at 11:27 AM, Ercilia182 said:

Getting tax statement from CME was a hassle.  I called they would put me on hold,  they would tell me they will call or email me information.  It took two weeks of constant calling (direct calling), emailing and finally, when I said i need a contact name for my attorney to contact, they sent me the information.  I closed my account months ago with them, but I am considering U.S. based broker.  Not worth the frustration.  not happy at all!

Well done, smart. I was able to get some pitiful excel extract that was quite confusing (did not show the buy/sell prices of the position) but at least it showed the gain/loss and quantity for tax purposes, but by day, so a lot of manual work to add up tickers...And this was after several phone call/emails/ and voicemails left. Kind of unbelievable they close your access to your account with notifying you. Never again opening an offshore account, not worth the hassle. CMEG was once good when they opened up but they got flooded with accounts and couldn't keep up. Oh SureTrader is dead btw. Just bad news all around for these offshores, sadly. Maybe they will get a more streamlined process down the road but not with my money.  

Share this post


Link to post
Share on other sites
On 2/10/2020 at 12:18 PM, Brendon said:

Well done, smart. I was able to get some pitiful excel extract that was quite confusing (did not show the buy/sell prices of the position) but at least it showed the gain/loss and quantity for tax purposes, but by day, so a lot of manual work to add up tickers...And this was after several phone call/emails/ and voicemails left. Kind of unbelievable they close your access to your account with notifying you. Never again opening an offshore account, not worth the hassle. CMEG was once good when they opened up but they got flooded with accounts and couldn't keepup. Oh SureTrader is dead btw. Just bad news all around for these offshores, sadly. Maybe they will get a more streamlined process down the road but not with my money.  

Hi Brendon, I agree.  it sucks though because not everyone has the 25K for U.S. based broker.  quick question, what did you enter as the Tax ID number for CMEG.  I had losses, and would like to somehow include this on my taxes.

thanks!

Share this post


Link to post
Share on other sites

Hi Ercilia, hmm I dont recall that I entered a tax ID number, I forget, I may have, this was a couple of years ago. I just made sure I had a statement from them and excel extracts showing my trades for my records. I was lucky enough to get both of those. Not sure if international brokers have TIN numbers, sorry! But if you dont have 25k, the best approach is to day trade under PTD and when you save up enough, go with IB. 

Edited by Brendon

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.