CM Trading Review April 2023 Is CMTrading a Scam Broker?

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The methods are wire transfer, credit/debit card, and e-wallets (keep in mind that the type of e-wallet depends on the client’s location). The website is only available in 2 languages, but the information is easy to access and the site has an intuitive layout. The web-based trading platform is a bit cluttered but nothing out of the ordinary.

  • The second account option is the Standard account, which requires at least $1000-$4,999 as the initial deposit.
  • CM Trading is offering its clients the possibility to copy the trades of professional traders through copy and social trading through the CopyKat platform.
  • Making trades can be done at the click of a button, based on real-time market information.

You will be charged $15/m, after 60 days of inactivity and 100$/year fees. ECN stands for Electronic Communication Network and eliminates the delay in order execution. Indices measure the performance of certain stocks, for example, FTSE shows the performance of Britain’s top 100 companies that are traded in the stock market.

CM Trading offer a good selection of MT4 platforms.

Spreads start at 0.1 pips for the EUR/USD and a commission of 14 USD per lot is charged per lot. While the spread of 0.1 pips is about average for an ECN account the 14 USD round turn commission is very high when compared to other ECN brokers. Stop-out levels are at 50%, but no Islamic swap-free options are available on this account. It’s also important to note that CM Trading only publishes its average spreads for the Bronze Account. This is unusual and is not consumer-friendly, as traders want to know what their ongoing trading costs are going to be before opening a live account. Mini Account starts from 250$ up to 999$ offered with a spread basis and free services from the company alike daily and weekly market reviews.

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The broker is well known for the great platforms they offer and exclusive features. CM Trading is committed to innovation with options such a propriety MasterCard and platform options such as CopyCat. The prestigious awards the company has received certainly further show and guarantee the quality that their clients regularly report. In addition to the high minimum deposits and trading costs, a significant drawback for beginner traders is the lack of educational and market analysis materials offered at CM Trading.

Why CM Trading Doesn’t Suck In 50 Words

Keep in mind that these are CFDs , and buying the CFD asset does not mean you have ownership of it. Safety and security are top priorities for retail and institutional investors alike. You don’t want your broker to be benefiting when you lose your money. Having a vast number of trusted regulators is the most important factor that can inform you about how safe the broker is. Trusted by more than one million clients, CM Trading’s main market is the African continent.

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Typical https://forexhero.info/ on the CM Trading platform are 1.5 pips for EURUSD, 2.6 pips for EURGBP, 50 pips for gold, 4.6 pips for silver, 23 pips for S&P 500 and 25 pips for NASDAQ 100. CM Trading clients who opt to use the Sirix WebTrader platform will also receive access to Sirix CopyKat, Sirix’ copy trading tool. Sirix has over 60 built-in indicators, a high level of security, and receives regular software updates.

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The Standard account offers all the standard features that are available with the Mini account, on top of several account benefits such as one risk-free trade, CMT debit card, and Forex webinars. If you are searching for a tighter and more competitive CMTrading spreads, the Executive and Gold accounts should be a better option, which quotes a minimum spread starting from 1 pip. The Executive account requires an investment of around $5,000 to $24,999, while the Gold account is more expensive with a minimum deposit requirement of $25,000.

Forex Trading in South Africa • Best Forex Brokers • Benzinga – Benzinga

Forex Trading in South Africa • Best Forex Brokers • Benzinga.

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This regulatory agency is required to promote and maintain a secure financial investment atmosphere in the country. It is known to work very hard to make sure that everything goes smoothly in the financial sector of the country. The broker claims that over the years, the team behind it was able to use all the experience that they had and create a place that offers safety and security for every single investor. Clients are strongly recommended to seek independent financial, legal and tax advice before proceeding with any currency, spreads or metals trade. Any information in this site should not be read, interpreted or construed as constituting advice on the part of CMTrading or any of its affiliates, directors, officers or employees.

It is still my favourite platform for manual and automated trading. I have never felt the need to change, especially considering it is available through most trading brokers. CM Trading is the Brand name of Global Capital Markets Trading and BLACKSTONE Marketing SALTD . CM Trading are regulated by the Financial Sector Conduct Authority and Financial Services Board in South Africa. The FSCA is an independent institution that monitors financial services in South Africa to ensure consumer protection and market conduct. You can get the withdrawal to the same account you used to transfer the deposit.

The benefit of CM Trading offering a third-party platform such as MT4 is that traders can take their customised version of the platform with them, should they choose to migrate to another broker. Overall, CM Trading’s deposit and withdrawal system is poor compared to other brokers. Slow withdrawals coupled with non-specific conversion fees and high fees for both deposits and withdrawals will not make many traders happy and is not common in the industry. The CM Trading client portal allows traders to deposit funds in EUR and USD. Clients that fund accounts in other currencies, such as GBP, will be charged a margin at a rate of exchange reasonably determined by CM Trading. That this rate is not published is unfortunate, as traders want to know the costs of funding their trading accounts before they register an account.

All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. Please provide estimated earning per day from in investment of $250. CM Trading is a brand name used by the BLACKSTONE Marketing SALTD and is one of the world’s innovative Forex brokers and the largest brokers in South Africa. I like the fact that you are interested in supporting people to get their financial freedom. They encouraged me not to give up, to remain focused & believe that this is achievable.

The CFD offering to a large number of asset classes around the clock facilitates real-time pricing, execution and risk management. Easy-to-use and intuitive software allows the client to focus on individual strategy and trading goals. And I wish to warn my fellow trader who are looking for a good broker. Don’t get fooled into using them due to their low spreads, they screw you in the end if you make money. CM Trading is an online forex broker registered in South Africa and regulated by FSA. CM Trading offers support for all the MT4 mobile trading apps for Android and IOS, including the native iPad app.

How to Open a CM Trading Demo Account – A Step by Step Guide

CMTrading offers daily and weekly market reviews, technical/fundamental analysis, and Forex education through its online platform. The broker also offers trading strategy consultation, detailed webinars, and other unique trading tools for all premium account holders. The broker also provides a free signals service, but it is only available for Executive and Gold accounts, upon request. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.

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An acceptable research section meets a competitive educational offering. CMTrading’s account structure includes various types of accounts, one of which offers numerous features for a minimum deposit of $10,000. The asset selection at 150+ covering five sectors is sufficient, particularly for new traders. The overall trading environment remains above average, and CMTrading presents one of the best choices among African brokers. CMTrading is also slightly more expensive than a regular market maker account. The company offers four different account categories, each divided into separate account options according to the initial investment.

I have not had a lot of time and…

The company is using MetaTrader 4 and the platform is famous for limiting itself to trading mostly currency pairs. CFDs are sophisticated assets with a high risk of rapidly losing capital because of leverage. 79% of retail investor accounts lose money when trading CFDs with this broker.

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CMTrading supports bank wires, credit/debit cards, Neteller, M-Pesa and Online Naira as deposit and withdrawal options. CMTrading processes withdrawal requests within 24 hours and does not list any costs on its website. CM Trading offers a good variety of funding methods including Neteller, CashU, and other internet wallets. CM Trading offers also a Debit Card that can be used at ATMs worldwide. The trading spreads are wide for Mini and Standard account types, but the Executive and Gold account types offer considerably tighter spreads starting as low as 1.5 pip.

We cm trading broker review the best possible service and support for our clients. Although in the past this broker charged an inactivity fee, during our latest visit we did not manage to locate such a fee anymore. Deposit and withdrawal fees can get a bit confusing and we advise that you ask for further clarification from CM Trading . Support is available through phone, email and live chat; we’ve tested the latter and it was satisfactory, with polite reps that answered questions in a helpful manner.

Try Some Trades With A Free Demo Account

Additional features include automated trading, news feed streaming, one-click trading, multiple order management, plus much more. MT4 is available to download on both laptops and mobile from Google and Apple stores. Alternatively, you can perform a CM Trading MT4 download directly to your computer and set up the application yourself.

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Trades are executed automatically, when the trader you copy places an order, your trade is placed at the same time. It’s worth mentioning that many brokers offer MetaTrader 5 alongside MetaTrader 4 as the MT5 is a newer version of MT4 and offers more tradable assets. It’s a pity that CM Trading does not have MT5 on its list of platforms. You’ll be able to trade using 1 instrument with a 0.01 lot size and if the trade goes against your forecast, CM Trading will cover the loss and credit the account with a bonus for the amount that was lost.

  • A great innovation of CM Trading is their Copykat platform, which harnesses the power of social media to make Forex trading easy.
  • It does require a download but is very easy to negotiate and is also extremely user-friendly.
  • CM Trading is regulated in both its country of origin, South Africa, and by the Seychelles financial regulatory bodies.
  • Traders can open a Gold Account with a very high minimum deposit of 10,000 USD.

Founded in 2012 in South Africa, CM Trading is a market maker with high ongoing trading costs and high minimum deposits compared to other Forex brokers. CM Trading offers six trading accounts, including two ECN accounts, and offers trading on multiple instruments, including Forex, indices, cryptocurrencies, commodities, oil, and metals. Over the years, as our review of CM Trading FX broker shows, this company has grown a lot. As of today, it offers several hundreds of trading instruments with the help of one of the best-known trading platforms around the world, MetaTrader 4. Like most brokers, CM Trading offers a free demo account so new traders can get a feel for the trading platforms and an understanding of the assets to trade. Unfortunately, unlike most other brokers, opening a demo account at CM Trading does require registering for a live account first.

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