Overall, although CM Trading lacks oversight from any of the major regulators, it has a good reputation amongst its clients across Africa and the Middle East and is widely recognised as a trustworthy broker. Yes, CM Trading is regulated by the Financial Services Board (FSB) of South Africa and is a genuinely reliable Forex broker. The FSB is an independent agency with limited powers, but the organisation does enjoy several powers when it comes to regulating and supervising the activities of Forex brokers operating in the nation.
How old is CMTrading?
Established in 2012, we at CMTrading have come a long way. Ever since our establishment, we have managed to create our niche in the trading industry and established ourselves as a force to be reckoned with.
CMTrading seems to be really committed to offering the best trading platforms for its traders, and the broker is true to its word by offering some of the leading platforms for trading the Forex market. The average cost for trading one lot of EUR/USD among similar brokers is about 9 USD per lot. As you can see from the table above, this is only achievable with the Gold and Premium Accounts, which are prohibitively expensive to open for most traders – requiring minimum deposits of 10,000 USD and 100,000 USD respectively.
Download App for complete information
The bonus represents the broker’s strategy to attract international traders, which also contain several terms and conditions related to trading and account transactions. The broker also provides a free international debit card for all deposits above $1000, but the trader must choose between the debit card and the deposit bonus. Traders can also sign up for bonuses, gifts, and other giveaways from time to time, but the availability of a bonus should satisfy a large number of traders in the market. The broker promotes its VIP debit card for its Executive and Gold account holders, mainly for withdrawals, but CMTrading also adopts other payment modes such as Neteller, CashU, fasapay, bank wire, Credit, and Debit cards.
- Therefore, South Africa has been attracting substantial investments from both local and global financial companies, leading to a spike in interest among Forex brokers.
- We have conducted an in-depth review of CM Trading and HotForex to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- CM Trading also uses first (ex. ) and first [1 letter] + last (ex. ) as email structures.
- CM Trading is mostly dealing with trading and also have a own scrap yard.
CMTrading, South Africa’s largest online broker and a leader in the international markets, has opened up an office in Lagos, Nigeria. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you. Typical spreads 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 is an online forex broker registered in South Africa and regulated by FSA. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
Features and Platforms
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. CM Trading’s entry-level account, the Bronze Account, requires a minimum deposit of 250 USD and spreads average at 1.50 pips on the EUR/USD. As mentioned, the minimum deposit on this account is higher than other brokers’ entry-level accounts and the ongoing trading costs are higher. Most traders are eligible to open a trading account at CM Trading but will have to meet the minimum deposit requirement of 250 USD.
How long does it take to withdraw from CMTrading?
Deposits and withdrawals can be executed 24/7. If a deposit or withdrawal is not subject to instant execution, it will be processed within 24 hours.
The one downside to https://investmentsanalysis.info/’s video library is that all the videos are only accessible through CM Trading’s own player, which is dated and has very limited functionality. This is frustrating, especially for those of us accustomed to YouTube and other popular players. With FSCA (South Africa) and FSA (Seychelles) regulation and a history of responsible operations in Africa and the Middle East, we consider CM Trading to be a safe broker to trade with. The developer, CMTrading, indicated that the app’s privacy practices may include handling of data as described below.
CM Trading Deposits and Withdrawals
Dear Kenneth,Thank you for posting a review and we’re sorry to hear that your experience was not up to standards. Bonuses are given to you for trading assistance so you can trade more as they support your trades, and are given as part of your deposit amount. Please have in mind that you can contact your market analyst by sending him an email at any time or send us an email at so we can assist you. While most beginners will find the majority of CM Trading’s educational content useful, it does not cover many of the advanced topics that more experienced traders would find helpful. It includes regular webinars on a range of markets and live seminars – though these have been on pause for most of the pandemic. The analysis material at CM Trading is basic compared to most other brokers.
- However, CMTrading adopts the market maker protocol using an automated internal dealing desk platform.
- Moreover, the CMTrading offer to increase the trading power and get a chance to make money by taking advantage of our first deposit bonus.
- Sirix has over 60 built-in indicators, a high level of security, and receives regular software updates.
- The trading account features also divided by the balance maintenance while the next level account will be applied once the necessary amount reached.
As a note, the Sirix Web Trader allows traders to copy other traders’ trades on the CopyKat system. For more on CM Trading’s CopyKat copy trading system and other trading tools, click here. The CM Trading client portal allows traders to deposit funds in EUR and USD.
HotForex vs CM Trading – Verdict
CM Trading is one of the largest online Forex and CFD brokers in Africa. Equipping clients with a free MT4 platform download and the Sirix WebTrader system in addition to an interesting range of trading tools, trading is offered on four live commission-free accounts, two that have ECN account options. Minimum deposit requirements are high compared to other brokers and spreads are wide, starting at 1.5 pips for the EUR/USD on its entry-level account. A significant drawback is the lack of educational and market analysis material, making it a poor choice for beginner traders. 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.
Canadian Imperial Bank of Commerce Reports Strong Earnings and … – Best Stocks
Canadian Imperial Bank of Commerce Reports Strong Earnings and ….
Posted: Tue, 23 May 2023 14:29:25 GMT [source]
Is CMC broker safe?
Is CMC Markets safe? CMC Markets is considered highly trusted, with an overall Trust Score of 99 out of 99. CMC Markets is publicly traded, does not operate a bank, and is authorised by five tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust).