CEX.IO Broker is a margin trading platform, backed by the regulated cryptocurrency exchange CEX.IO. Unlike BitMEX that lets users trade infinite futures, CEX.IO Broker is based on CFDs (contracts for difference). CFDs represent financial instruments that allow traders to trade in the price differences of assets without actually owning / buying / selling those assets.

While many platforms have emerged recently with a questionable reputation, CEX.IO Broker (also CEXBro) is definitely not among them. If you are evaluating the platform and asking whether it’s legit or another scam, below are some points to consider. Here’s why CEX.IO Broker is not a scam:

• Regulation: To provide service to the EU residents, CEX.IO Broker has obtained a license from Cyprus Securities and Exchange Commission, CySEC, to operate as Cyprus Investment Firm under the MiFID II framework. MiFID II is instituted by the European Union (EU) to regulate financial markets and to improve protections for retail investors. As a part of the licensing procedure, there is a thorough regulatory review of business processes, key people, meeting of capital requirements, etc. 
• Backed by the tenured regulated exchange: CEX.IO is a cryptocurrency exchange behind CEX.IO Broker. CEX.IO has been in the market since 2013 and serves over 3 million users across the globe. It also maintains a number of licenses for the various services it provides (e.g. DLT License in Gibraltar, separate Money Transmitter Licenses in various states in the US). 
• Professional team: The key people (technical and product) behind CEX.IO Broker have a lot of experience in both cryptocurrency markets and traditional finance.
• Extensive private beta testing: The team opted for quite an extensive closed beta (invite only) testing period. During that time, aside from fixing bugs, the team has worked on narrowing the spreads and improving the order execution logic. CEX.IO Broker uses aggregated liquidity from the top exchanges and designed the order execution logic to ensure the best order execution price.
• Education: The team publishes a growing number of materials aimed to share knowledge about margin trading, key trading concepts, leverage mechanics, etc. There is a strong effort to educate the audience about trading as well as to warn about potential risks.

Overall, a platform with a license, backed by the crypto exchange with a solid reputation, developed and tested by the veterans of the market, CEX.IO Broker demonstrates serious credibility. Provided the team also pays a lot of attention to the cost-effectiveness of trading (spreads, order execution time and price) - it’s a good candidate for a new addition to the ranks of reputable margin trading platforms.