CM Trading Review
CM Trading is a foreign exchange and CFD trading brokerage located in South Africa, which adheres to the strict regulatory rules set by the FSCA. Furthermore, your deposits are kept in segregated accounts and monitored by the FSCA, the South African Financial Services Board. This brokerage promises secure SSL transactions and advanced encryption algorithm to ensure your security and privacy.
CM Trading Offerings
In addition to traditional Forex trading, this firm offers CFDs for commodities, stocks, cryptocurrencies, and indices. They operate around the world, allowing their customers a full-service trading experience. CM Trading does not accept U.S. traders, as the United States’ regulators do not allow CFD trading or brokers who are not regulated to operate in the USA. To enhance traders’ experience around the globe, CM Trading’s signals and information is available in over 100 languages.
CM Trading customers can trade using either the MetaTrader4 or Sirix trading platforms. These platforms both offer an extensive set of access options, service, updates and more. Both have mobile apps available, as well as web-based apps and can update a trader 24/5 with whatever information they are looking for. This brokerage allows customers to use the Sirix CopyCat platform feature for mirror trading. Traders should do their research carefully before choosing a trader (or traders) to copy. There are also options for social trading through CMT.
Types of Accounts
This brokerage offers customers four types of accounts:
- A Mini Account can be opened with as little as $250. This account allows use of a demo account, leverage of 1:400, a daily market review and a weekly market review, as well as a copy of the CM trading eBook.
- A Standard Account. This level starts at $1,000 and in addition to all the benefits of a Mini account, this one gives traders a debit card they can use to access their funds, one risk-free trade and access to webinars about Forex trading. The leverage allowed on a Standard Account is 1:200 and spreads seem to be reasonable, if not a bit high.
- An Executive Account which entitles the trader to tighter spreads, a VIP debit card, more webinars, and 2 risk free trades for a minimum deposit of $5,000.
- The highest level of account, with a deposit of $25,000 or more is called a Gold Account, which comes with a competitive spread, same day withdrawals, 3 risk free trades, 2 trading strategies, and even more webinars.
The Mini account spreads average between 2 and 3 pips, and higher-level accounts have more favorable spreads.
During this CM Trading review there were a few deposit-based promotions available to new traders. The brokerage offers customer support 24/5 via several international phone numbers, live chat on their website or email. The website contains an extensive education section with resources in many different forms to help you learn more about your trading options, strategies, and platforms.
As with any brokerage, do your research, but the reviews and feedback we have researched seem to say this a decent option for traders outside of the U.S.Back to Top
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