CMSTrader

* Ranked #273 of 316 in DailyForex's top broker list

Info

Name : CMSTrader
Website : cmstrader.com
Established : 2013
Country : United Kingdom
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • User-Friendly Site
  • Social trading opportunities
  • Islamic accounts
  • Free signals provided

Disadvantages

  • Only New Zealand Regulation
  • Data Limited to Account Holders

CMSTrader Review

CMSTrader Review

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a relative newcomer to the Forex scene.  Since opening its doors in 2013, it has won several international awards including one for having best customer service in 2013. CMSTrader is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).  

Accounts

There are four accounts to choose from starting with the Mini Account which requires a deposit of only $500 but offers over 120 pairs of currencies as well as personal training. The Silver Account starts out with a $5000 deposit and provides traders with direct access to the trading room, contact with their research team and the ability to place orders over the phone.

You need $50,000 to open a Gold account, but with this amount of money you will receive service fully customized to your investment needs in the short, medium and long terms as well as the choice of fixed or variable spreads.

The Islamic Forex Account is offered to all clients who are of Islamic religious belief and want to trade online in full compliance with Sharia law. The Islamic Account adheres to the principles of Islamic law regarding banking activity and Riba (interest) and there is no interest on positions which are left open overnight. Islamic Account holders will still enjoy all of the benefits of all the other available accounts.

I was pleased to see when doing this review that CMSTrader offers traders a demo account.

Features

At CMSTrader, traders can choose from a long list of currencies, indices, commodities, gold and oil. In addition, stocks such as Apple, eBay, Google as well as Saudi stocks can be traded through the Circus Platform, a global platform that implements the whole trading process or as CFDs using leverage supplied by CMSTrader.

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included. The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals. In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone. This service is available 24/5.

The CMSTrader website flows smoothly from one page to the next and traders can apply for an account from various different locations. The graphics are well done and are not excessively flashy and the ongoing ticker tape with stock quotes is unobtrusively situated at the bottom of the landing page.

CMSTrader Homepage
CMSTrader Homepage

Education

CMSTrader has recently introduced several new features to their already wide educational line-up.  At their Education Center, account holders can take advantage of their informative on demand video lessons in several languages, from the basics of Forex trading to lessons on fundamental and technical analysis, psychology of trading and advanced trading strategies. Traders can test their skills at the end of each course and monitor their results.

CMSTrader Video Tutorials
CMSTrader Video Tutorials

The e-book, The Building Blocks for Succeeding with Forex Trading, was created by and for traders with the aim of equipping themselves with the right skills for earning big returns from trading Forex online. This comprehensive and easy-to-follow e-book contains enough knowledge for traders to succeed in the foreign exchange market.

CMSTrader sends out daily market reports as well as ongoing signal information, advice and guidance on financial markets from professional Forex traders. A daily market analysis as well as fundamental analysis and commentary can be viewed on the site.  An economic calendar is posted as well to keep traders informed of upcoming and ongoing events in the financial markets.

A pips calculator is provided which is helpful in figuring out the value of each of the major Forex pairs.

CMSTrader Pips Calculator
CMSTrader Pips Calculator

The features offered at the Education Center are also available on the CMSTrader mobile app by scanning the QR code.

CMSTrader Mobile Education Center
CMSTrader Mobile Education Center

Bonuses/Promotions

At the time of this CMSTrader review, the Refer-a-Friend promotion was offering an opportunity for both referrer and the referred friend to earn additional cash. The only other detail provided was that there is no maximum limit to this welcome bonus.

Deposits/Withdrawals

Deposits and withdrawals can be made via credit cards. The minimum amount for withdrawal is $500 and the maximum amount is $10,000.

In addition, CMSTrader has just introduced a new withdrawal option - its own CMS Trader Prepaid MasterCard which functions like a prepaid MasterCard credit card.

Customer Support

CMSTrader provides 24/7 Chat service. Contact can also be made via phone, email, mail or fax. Although the preferred language of communication is English, messages may transmit in Arabic and French. In addition to English, the website is available in French, Arabic, Russian and Italian.

Conclusion

CMSTrader stays on top of market events and endeavors to keep its clients well informed of what is going on in the world. Their website is accommodating and user-friendly and offers all the important features any traders would need. Some of the important information can only be accessed after an account has been opened but this doesn’t detract from the other benefits offered.

Advantages

  • User-Friendly Site
  • Social trading opportunities
  • Islamic accounts
  • Free signals provided

Disadvantages

  • Only New Zealand Regulation
  • Data Limited to Account Holders
Review info :
Broker reviewed : CMSTrader Rating : 7 out of 10
Reviewed By : Review Date :