429 User Reviews
|cmtrading.com||MT4, SIRIX||Yes||South Africa||FSB|
CMTrading.com is a rather unique Forex brokerage service which operates out of a financial center located in South Africa. There is also an operating center Seychelles. Operating out of these two unique regions they offer a full-service experience to clientele spread around the world. The firm is a great alternative for commodities, stocks, and indices.
CM Trading Account Types
There are four different account types for those who want to use CM Trading Forex markets. As you escalate you get better benefits and tighter spreads.
- The first account type is called the Mini account. This is for anyone who deposits between $200 and $999. One odd thing about this account set up is that the minimum deposit required to open any account with the organization is $250, and yet they clearly stated on their site that the minimum deposit for the Mini account is $200. This conflicting information as yet to be resolved. With this account you have access to the free demo account.
- The second account type is called the standard account. This is for anyone who deposits between $1000 and $4999. For this account your withdrawal requests are completed within 24 hours and if you use the proprietary pre-paid MasterCard you can actually withdraw your money immediately as soon as you have it in your account. With this account you get the free demo account as well so you can practice your skills.
- The very account is called the executive account whereby you must deposit between $5000 and $24,999. This classification also comes with a free demo account and also has the same 24 hour limit for withdrawal request processing. With all of these accounts but especially the higher end accounts you have several promotions and bonus programs available but you have to check the website because these change from time to time.
- The fourth program is called the gold program. The Gold level account is for anyone who deposits over $25,000. With this also comes the free demo account so you can practice with virtual money before you start using your own and several bonus programs contingent upon the amount you deposit and when you open the account.
CM Trading Trading Platform and Tailored Trading Packages
This CM Trading Review found that they support Metatrader4 and Sirix platforms. This means that any Internet-capable device can be used to access the platforms. For any trader who doesn’t want to download their trading platform or they are regularly on the go, you can take advantage of the web-based and mobile trading services. Each of the platform systems uses state-of-the-art order execution as well as proprietary features that guarantee all of your trading information is kept private and you are kept informed of all market changes by way of free alerts.
CM Trading Financial Tools, Resources or Other Exclusive Features
The feature set permits social trading and mirror trading. There is a unique Guardian Angel feature. This Guardian Angel feature will warn you if there is a major change in your market conditions. There’s also an analysis function which puts together all proprietary analyses and trade signals in one place so that you can access it when and where you choose in over 100 languages. Another great feature is that the firm will send you a prepaid MasterCard which you can use to immediately make withdrawals and purchases once your account balance is over $500. This means you can trade until you reach $500 and then received a card linked to your account with a MasterCard logo, which you can use to directly withdraw money from an ATM or to make any purchases you want with the money directly linked to your trading account.
Immediate Trade Execution at CM Trading
They maintaining quick order execution from all major liquidity providers.
CM Trading Transparency
There is a lot of transparency, especially about how new they are and how they are still making upgrades and changes to their site as needed.
CM Trading Security
The regulatory agency in South Africa is very strict and organized in much the same way as throughout the United Kingdom and Europe. This service is known as the financial services Board and they have strict regulations that all money deposited remains safe and entirely segregated from operating capital at all of the major tier 1 banks. For additional security measures the operating standards are also higher and any personal or transactional data is instantly encrypted thanks to SSL technology.
CM Trading Fees and Commissions
Given the different account types available, traders are asked to check the website for the fees and commissions as they apply to their account level.
CM Trading Trading Academy
The educational tools that they provide are quite popular. They are known as one of the best training brokers in the business so newcomers have access to a great many training materials. The educational materials which they provide not only cover the previously mentioned features like the Guardian Angel protection or the flexible analysis, but training videos alongside webinars. You can watch videos on different things if you don’t understand them. You can use the technical analysis tools or the fundamental analysis tools to better hone your skills. You can use the CM trading signals or the support resistance features. If you need it, you can set up special communication techniques which alert you to any rapidly changing conditions which might impact your trading. There are also expert advisors available on hand for anyone who wants to use them.
CM Trading Support
As far as support is concerned there are customer service agents who are bilingual and accessible 24 hours a day, five days per week. During the weekly trading hours you can call, live chat, or email the customer service representatives using any one of the 16 international direct dial lines. They have a positive reputation for customer service.
- One of the things which distinguishes them from their competitors is offering services and features which are not available elsewhere.
- The learning center is high end.
- They are an award-winning site.
- US regulators do not approve the formal use of CFD’s so US customers cannot be accepted by this company.
Is CM Trading a Scam?
So, is CM Trading a scam? The firm has automated mirroring services and educational materials, and while far away, they seem to operate well enough. They have some things you won’t find elsewhere but they are still a new organization so they are still upgrading and improving.