CM Trading features a diversified trading products portfolio that comes with numerous assets including currencies, metals, commodities, indices, and CFDs. albeit the broker has covered the widest range of monetary markets, it remains to be seen whether CM Trading is indeed a reliable broker which will offer the simplest services to its clients.
Take Us Through The CM Trading Regulatory Status
CM Trading is regulated by the FSB in South Africa and also has its headquarters in Seychelles. the corporate isn’t your typical broker that features a European regulatory tag, which is more synonymous with trader trust and safety of client funds. Nevertheless, FSB may be a high-quality regulatory authority that follows stringent regulatory guidelines that are designed to make sure a good and transparent marketplace for all companies operating within the financial markets.
The FSB doesn’t have the quantity of reputation that other regulatory agencies possess, which may act as a hindrance to the corporate while advertising their services to the worldwide pool of retail traders. Expectedly, the US market remains closed to CM Trading, and EU traders also will find it difficult to garner enough support from the broker thanks to the absence of an EU regulation.
CM Trading holds all of their clients’ funds in segregated accounts in Barclays PLC and Nedbank. The funds are kept strictly faraway from the company’s accounts, and it’s impossible for the broker to misuse a client’s trading capital for the other purposes. FSB’s CM Trading regulation also states that the broker should keep the corporate financials break away their trader’s financials, and routine audits will function a sound point of reference to make sure that the broker only indulges in fair and honest financial dealings.
Types Of CM Trading Accounts & Trading Specifications
CM Trading has divided its trading accounts into four different categories consistent with the initial investment and therefore the trading environment. the foremost basic account available to the traders is that the Mini account that starts with a $250 minimum deposit and a maximum CM Trading leverage of 1:400. We aren’t sure why the broker has stipulated such a high amount of minimum deposit for his or her minimum account, especially since modern traders expect a small initial deposit for Mini and Micro accounts. The spreads also are high for the Mini account, with the spread on the most currency pairs ranging from 2 to 4 pips on a mean . The Mini account is additionally a market maker account, and it ‘s hard to enjoy the simplest trading conditions.
The Standard account offers comparatively acceptable CM Trading spreads that hover round the 2 pips on the average , but it’s still expensive for a typical account that features a minimum initial deposit starting at $1000. The leverage is lowered to 1:200, and traders get access to FX webinars and academic materials thanks to the premium. you’ll also enjoy one risk-free trade using the quality account, but if you select the chief account, you’re offered two risk-free trades. The leverage for the chief account stays at 1:200, but the spreads do get smaller to average around 1.5 pips spread.
The Gold Account is that the top-of-the-line account available for traders depositing quite $25,000, which promises the tightest spread, but actually , traders shouldn’t expect ECN-like trading conditions. CM Trading doesn’t offer an ECN account, and this can’t be considered as an oversight since there are brokers that provide ECN because the standard for deposits as low as $5. The absence of ECN account takes some extent faraway from CM Trading’s overall ability as a reliable broker.
Traders making a deposit greater than $500 get a 20% CM Trading bonus. Deposits of $1000 and above qualify for the CMTrading open-end credit , which allows CM Trading clients to withdraw funds to a open-end credit for fast cash withdrawal at global ATMs or POS payments. Other payment options include credit cards, Neteller, CashU, UnionPay, and MoneyNet International.
What Is The CM Trading CopyKat Feature?
cm trading copy catCopyKat is CM Trading’s version of the social trading platform that permits traders to repeat trades from other successful traders. The CopyKat platform remains in an initial phase, as a number of the foremost successful accounts under the scheme are essentially demo accounts. Demo trading performances are largely inconsequential, as there’s no fixed risk/reward and demo traders usually resort to gambling thanks to the low-risk nature of demo trading. Replicating a high-risk demo strategy on a live account may be a disaster, especially thanks to the high amount of leverage available for the CM Trading Mini account.
The Tools of Trade
Clients can commence trading using various CM platforms including the MT4 terminal, the CMT Web Trader, the SIRIX tablet trader, and therefore the CMT Mobile Trader. The SIRIX tablet trader may be a modified version of the MT4 mobile app, which is meant for trading on large screen smartphones and tablets. The CMT mobile apps also are available for download on the respective iTunes and Play stores. Since MT4 is that the most generally adopted trading platform within the financial markets, there’s little surprise future for normal Meta Trader users.
For any issues or concerns, the CM customer service department is out there 24 hours each day , and may be contacted via live chat, phone, or through email. The broker features a multi-lingual customer support staff for up to five different languages. CM Trading has excellent educational resources that include eBooks, training videos, webinars, and a number of other technical also as fundamental analysis to assist their traders to form accurate predictions of the market. The sheer number of educational materials may be a good sign that the broker is committed to the success of their traders, but CM Trading should radically evolve their services to compete the foremost modern offerings of their immediate competitors.