CM Trading is an online forex trading service provider that started its operations in 2011. What’s interesting about this brokerage is the variety of platforms that they offer for their clients and that they employ secure banking practices and strong regulatory oversight from the Financial Services Board which is a strict financial regulator. So how do they compare to other brokerages in the Forex industry? Find out by reading further.
Demo Account: Unlimited access
The free demo account can be accessed for an unlimited time and comes with $50,000 virtual money. This can be used for testing out the platform so you won’t need to use real money.
Bonuses: Trade with more capital
From time to time, they hold different promotions and as of this writing, they offer a welcome bonus of up to $1,000. With these generous bonuses, you will be able to trade with more capital and have more opportunities to make a profit.
Platform: A diversity of options plus tools
In terms of platform access, this broker has already got you covered. There’s the MetaTrader 4 which is a world-renowned platform, the CMT Mobile Trader for smartphone users, the CM Trading CopyKat for copying the trades of professional traders, the CM Trading WebTrader can be accessed from any PC or Mac without any software installations needed, the Tablet Trader for iPad or Android tablets and the Social Mobile App for social trading on mobile devices. All of these platforms come with tools and other useful functionalities.
Mobile Trading: Simple user interface
For smartphone and tablet users, the CMT Mobile Trader for iOS and Android and the Social Mobile App are the available and it also comes with technical indicators and tools.
Minimum Lot Size: At par with the standards
The allowed minimum lot size that you can trade with this brokerage is 0.01. This is in line with the smallest lot size that are also followed by the majority of brokerages in the market today.
Maximum Leverage: Larger returns at stake
Leverages can be set to a maximum ratio of 1:400. This means that potential profit that you may earn would be bigger but also keep in mind that the potential losses or risks are also increased so always invest with an amount that you can afford to lose.
Spreads: Favorable figures
Their spreads are around 2 to 3 pips for the major currency pairs. The EUR/USD pair for example has a spread of 2.6 pips which is already favorable figure for trading.
Tradable Instruments: The most liquid forex pairs and more
Aside from offering trading on the world’s most liquid forex pairs, they also offer trading on CFDs, indices, commodities, gold, metals, oil, sugar, natural gas and coffee.
Deposit & Withdrawal/Support
Minimum Deposit: $250 to get started
If you want to start trading, you need to make an initial deposit of $250 to your account and this will be used as your trading fund. It may be a little higher that the requirement of most brokers today but the additional perks cover for it.
Deposit Methods: A number of options
So how do you deposit funds? This can be done in a number of ways. They accept wire or bank transfers, debit or credit cards, CashU, Neteller and Fasapay.
Withdrawal Processing Time: Within 2 to 3 days
Withdrawing funds from your account is easy. After accomplishing the online withdrawal request form, their Finance Department give you a call to confirm your request which then will be processed within 2 to 3 business days.
Channels: Various methods of communication
Their support lines are accessible via phone, email, and live chat.
Customer service is available 24 hours a day, 5 days a week.
Supported Languages: 5 choices
They have support for English, Arabic, Chinese, Indonesian and Spanish languages.
Average User Rating: 8.9
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: User-friendly with accessible tools
What they offer is a suite of user-friendly and streamlined platforms that come with all the necessary resources like manuals, technical analysis tools and many more.
Support: 24/5 support with fast responses
They provide personal support and service that is available 24 hours a day so you can get in touch with them any time of the day. Their responses were generally quick and highly satisfactory.
Reputation: Regulated by the Financial Services Board in South Africa
They belong to the limited list of brokerages that are licensed by the Financial Services Board (FSB), a financial regulatory agency that is based in South Africa. Only a few brokers are granted with such license which means that they are in compliance with their standards.
Editor’s Rating: 90
CM Trading provides incredible support and service via their state-of-the-art platforms that comes with value-added features and perks such as competitive spreads, trading signals, webinars and much more. It is highly important that you as a trader should choose an innovative trustworthy and forex broker and in this case, CM Trading is a good choice.