CM Trading review and test – Scam or not?
If you plan to get into the forex game and need a trustworthy online trading platform to link up, CM Trading is the one you need. It has a wide array of features and tools that are essential for the sophisticated and well-balanced trader. It provides a fantastic opportunity to bring in the big bucks.
CM Trading is a singular brokerage firm that offers a secure haven for the financial markets of the world. More than one million customers have passed through their walls to register, thus enlisting themselves to be the vanguards for one of the best trading platforms today.
We have over nine years of experience and probed and analyzed this platform extensively. We have comprehensively tested their many tools and features so we could get a firm grasp of it and what makes it tick.
Once you get through this review, you will learn the entirety of this company and guide in your decision-making process on whether you will be trusting it in the long run or not.
CM Trading Company overview
CM Trading came into existence in 2012 and has quickly progressed into one of the most straight-laced and trusted brokerage companies in South Africa. It is a brand name utilized by Blackstone Marketing SA (PTY) Ltd. While under the protection and regulation of the FSCA or South African Financial Sector Conduct Authority, they endeavor to bring forth all registrants from different walks of life with top-notch, balanced, and principled trading practices, irrespective of their prominence in the financial industry.
The company is at the cutting edge of technology, making online trade as easy as pie that traders can take a big bite off. Consequently, earning a great deal of cash. They are goal-oriented and constantly strive to bring something new to the forex community.
Advanced traders will find their online platform incredibly state of the art as well and innovative, yet simple enough for novice traders to readily indulge in. Safety is also a top priority, along with being highly regulated, thus rendering its users to trade with ease with its many available assets like commodities, forex, index, and cryptocurrencies.
CM Trading’s central philosophy-which they adhere to and emulate to the highest degree-is to provide their brand of support for the betterment of their worldwide clients. In turn, to earn greater profits.
As evidenced by their magnificent brand of service, they have garnered more than ten awards from the financial industry. The most noteworthy ones are the “Fastest Growing Online Broker in the Middle East,” which the company received in 2019. Another one in 2020, “Best Financial Broker in Africa.”
Licensing and Regulation
It is of utmost importance that customers are secure in their online transactions and do not need to worry that something untoward happens to their well-earned funds. To assuage their concerns, companies like CM Trading are strictly governed by trustworthy financial regulating entities. In their instance, it is with FSCA or Financial Sector Conduct Authority. They are represented juristically with the license number FSP 38782 of Blackstone Marketing SA (PTY) Ltd.
FSCA is an establishment that functions independently from any prominent corporate body and supervises all non-banking financial entities in South Africa. They are the only regulatory entity in South Africa and have given eighty brokerage companies licenses to operate online.
To ensure that the online environment is safe for the traders to operate, FSCA has mandated that the SA trading companies segregate their company earnings from the client capitals. It is to make sure that no fraudulent activity will occur.
The main task is to watch over companies like CM Trading. And if they are performing their duties to their greatest extent, without engaging in fraudulent schemes. You can visit them on their website http://www.fsca.co.za/.
CM Trading trading platforms
The electronic platforms that CM Trading employs are among the most prevalent as well as unique, which the users can select and utilize for themselves.
Meta Trader 4
If you are a serious trader and knows the latest updates about technology in the financial world, you have undoubtedly heard about MT4. It has been around since 2005 by MetaQuotes software and has progressively grown since then. It has become the leading platform utilized for Forex speculative trading that all companies like CM Trading put in service.
It remains at the forefront of innovative technology that is still in the development stages to be a better trading tool. It is available to download for free on the website. Once you have completed the registration process, you will be given your login bona fides. Then you will be able to utilize this tool efficiently.
One of the best aspects of the MT4 system is the ability to be fully customizable. And fit the needs of prospective users. It allows you, as a user, to have access to live analytics, one-click executions, technical indicators, multiple types of charts, and timeframes. Automatic trading is also an important feature, including instructional tools to create your robots.
The latest MT4 version in CM trading is that it makes it possible to accommodate three execution models and eight types of orders. It has many social functionalities like algorithmic trading, financial news updates, and trading signals. It now has over fifty tools embedded in the system for the user to employ to make trading faster and more efficient than before.
Its popularity did not seem to wane after all these years because it has all the great and practicable features, packed in an uncomplicated and easy-to-understand computer interface.
Sirix Web Trader
Only a few online traders employ Sirix, and CM Trading is one of them. It is one of the most essential trading tools ever created in the foreign exchange industry. It enables users the streamlined functionality of trade execution from different electronic devices without even installing or downloading its software.
It is a nifty substitute to MT4 if you are looking for a similar trading tool. Apart from the usual functionalities like risk management and drawing tools, it has other unique functions like current market forecasts, graph representations, and real-time trading tips.
It is wonderfully suited for beginner traders looking for an uncomplicated and user-friendly trading tool and practicable for the more seasoned ones.
With just one click, the Sirix Web Trader can link you up to different markets and currencies.
It is one of the newer tools on the CM Trading site and works especially well for rookie traders looking for an uncomplicated trading tool. It works by selecting a high-earning trader that you know about and replicates his order to a T. It can copy one hundred of the most successful traders in the whole world, input them in the CopyKat system and duplicate their orders.
This tool is also catered to the beginner, wherein an expert trader will work in full capacity with a less experienced one. Thus, providing the necessary knowledge to become a better trader.
Smart Communication System
It is a unique CM Trading feature wherein the user constantly receives significant updates concerning the financial world. It includes market trends, trading signals, and other relevant details.
You can download this for free and includes additional features like a direct messaging service, a Stop-Loss calculator, and automated feedback from the “Guardian Angel” system.
Mobile trading allows you to trade anywhere using a handheld device like a smartphone, which is available via the CMTrader application. You can download it on Android, Windows, and iOS devices. Its features include real-time quotes, streamlined integration with desktop, one-click execution, mobile notifications, and updates. Also, tools for charting and indicators are accessible.
Fees, Spreads, and Commissions
Similar to actual brokers, CM Trading takes a fee from the floating spreads. A pair mostly utilized in foreign exchange markets like GBP/USD and EUR/USD has a spread of 2.6 and 1.5 pips in the given order, but not as tight as other brokers have. However, the company does not charge extra commissions.
If you think about the total costing, you should know that there is an inactivity fee of fifteen dollars for accounts not used for three months. Positions held at night are charged rollover overnight fees.
CM Trading’s available leverage limit is 1:200. Its levels are dependent on the instrument, which means if you trade in cryptocurrencies, the available rates for leveraging can reach up to 1:5.
If you want to know more details about the flexibility of leverage levels in live accounts, you can call their customer service (which will further be discussed in another segment below).
You can contact their customer service team in several ways:
- Online chat- You can message a team member directly by clicking on the chat icon located on the right side of the site.
- Email address- You write a message in email@example.com for client support, IB@cmtrading.com for Introducing Brokers, and firstname.lastname@example.org for the finance department.
- Phone numbers- The South African number is +27105008026, and the United Kingdom number is +4420333182176.
The best way to get immediate contact with a CM Trading customer representative is through live chat. Chat reps are the fastest to respond to any platform-related questions you may have. You can contact them from Monday to Friday from 0800 GMT+3 to 2100 GMT+3.
You can also visit their social media pages on Facebook, YouTube, and Instagram to contact them and get the most current updates.
Types of Accounts
There are many account types available for traders with different skill levels. You can select from these:
- Bronze or Mini account- There are a required initial two-hundred-fifty dollars initial deposit, with a limit of 999 dollars. It has a 400:1 leverage. There are extra features like a daily and weekly market review and an eBook about CM Trading.
- Silver or Standard account- There is a 1k dollar minimum deposit, with a limit of 4,999 dollars. It has 200:1 leverage and standard spreads. You can opt to get a CMT debit card, which you can utilize for deposits and withdrawals. Benefits include a free webinar about foreign exchange and risk-free trade.
- Gold or Executive account- There is a 5k initial deposit, with a limit of 24,999 dollars. It has a 200:1 leverage. It has tighter spreads and the option to get VIP debit cards for cash transactions. The benefits include two webinars about forex and its technical analysis and two trades that are risk-free.
- Premium account- It has a 25k minimal deposit, with 200:1 leverage and very competitive spreads. Added benefits include three risk-free trades, withdrawals on the same day, three webinars including an extra topic about trading psychology.
If you are Muslim and prefer to follow Islamic principles, you can opt for an Islamic account. These types are interest-free with a wide scope of open positions, even if how long it takes.
You can add funds to your chosen account with these accepted methods:
- Debit and credit cards
- Wire transfer
There is a minimum deposit amount of fifty dollars, and you will not be charged a deposit fee. Payments are done on the same banking day. Also, Dubai traders have a choice of a local bank.
CM Trading has a new offer: a CMT Prepaid Card, which can be utilized in several options. Also, there are Regular and VIP Cards also available for the most prosperous of CMT traders.
There is a twenty-dollar minimal amount for withdrawal. Depositing and withdrawing follow the same online process. Yet you have to wait three banking days for the Finance department to process it and might call you if they need to verify something.
However, there is a withdrawal fee, which is dependent on how much funds you want to withdraw and the method of payment utilized.
If you are still hesitant about selecting an account and want to try out the platform features and tools, you can open a demo account. You can quickly open one in a few minutes and get your login bona fides on the same day. Then, you can pick either Sirix or the MT4 tool to teach yourself.
There are fifty foreign exchange pairs available to trade in CM Trading, which encompasses minors, majors, and exotics. You can also trade with CFD or Contract for Differences. It includes twenty indices like Nasdaq and FTSE, in addition to large company stock shares like Apple. Also, you can speculate on Bitcoin and a few other cryptocurrencies, and a few precious metals and energies.
If you want to be a truly effective trader, you have to take advantage of the instructional and educational tools available in the system. Even researching outside of the platform, in your time. There are many available that you can readily access:
- Training videos- There are many subject matters you can select and peruse. The topics include simpler ones like “Introduction to the Stock Market,” to more complex subjects like “Chart Patterns: Ascending Triangles Trading Strategy.” To understand them fully, you have to view them in consecutive order.
- Technical Analysis- This is a vital educational tool for the novice trader to teach about supply and demand. It instructs about math formulas that examine its price changes. Expert traders utilize the technical analysis tool to evaluate if a foreign exchange pair is either overvalued or undervalued. It also analyzes if there is a rising momentum, which might result in price changes.
Forex traders utilize key indicators and chart patterns like:
Trend lines-There are two: downtrend and uptrend. An uptrend happens if a foreign exchange pair rises high, which you can trade at a higher amount. It means that those buyers are getting belligerent. When a downtrend happens, a pair can trade lower as the price drops.
Resistance-It refers to trading pressure.
Support- It refers to buying demand.
Moving averages- Refers to the calculation of the average price in a specific time.
Bollinger bands- It refers to the measurement whenever a moving average deviates.
RSI or Relative Strength Index- Refers to the measurement of the gains against losses of a particular trading tool in a period. Whenever it increases, it means there is a rising momentum.
- Fundamental Analysis- It refers to the examination of current economic events by foreign-exchange traders. They analyze the info very intently as any seemingly minuscule alteration in the economy might cause an impact on the price of currencies. Smart traders follow an essential economic principle wherein a particular country with a strong economy will have a heightened currency demand as their affluent countrymen increase their investment levels. So, whenever great news happens that makes the country’s economic progress, traders may want to buy their currency, fully expecting their currency demand would rise in the future.
Here some examples of major economic news that forex traders watch out for:
-Interest rate meetings of a country’s central bank
-CPI or Consumer Price Index
- Webinars- You can attend online seminars at the comfort of your own home and choose from a variety of topics like “What is VIX? Using VIX to Trade the Financial Markets,” or “Charting Made Easy.” There are also experienced resource speakers that have become successful Wall Street traders like Fred Razak, who acts as a mentor and a “Trading Educator.”
- EA or Expert Advisor- It was mentioned earlier but only sparingly. This tool works hand in hand with the MT4 platform and primarily assists in automated trading. Its chief purpose is to aid traders in creating and applying new strategies for their own. You can access this by clicking on the topmost portion of the MT4 tool. It is already included once you download the MT4.
- Forex signal- It is a truly essential tool if you want to increase your gains from trading. It advises you in making correct decisions at the proper timing. These provide you crucial details about the foreign exchange market, informing you about situations that might affect the price of currencies. Along with it are detailed data and insightful perceptions so that you can make reasonable investment choices. It is a practical method to improve your trading abilities, therefore making it less of a chore and more gratifying.
Opening a Live Account
It is quite easy to register a CM Trading live account. Go to the home page and click the key icon on the left portion of the screen that says “open account.” It will direct you to a web form to fill out your personal and contact information. Do no uses aliases and put in your real details because a CM Trading account manager will call to verify your details.
If you still lack confidence in trading for real and want to practice more, then you can opt to open a demo account. However, to do so, you need to have a live account first. Once you have opened the live one, select the “Add Account” option, then pick the demo selection.
Even though you can peruse the platform once you have an account, you have to remember that you cannot start trading unless you can pass the compliance checking. The whole process takes a few days, which might take longer and dependent on the trader’s situation.
Promotions and Bonuses
CM Trading has a promotion on Facebook and Instagram, wherein traders that utilize their platform are awarded and two-hundred-fifty dollar trading bonus, once they like and share the page.
There are other promotions for first-timers like:
- Once you deposit to any account for the first time, you will get an eBook for free.
- If you deposit five hundred dollars to any account, you can receive a twenty percent bonus that can go as high as 1k dollars.
- If you deposit 1k, you are eligible to get an “Intercash International” debit card.
If you want to know the appropriate trading times, you should be aware of the hours that the assorted worldwide markets open and close. If you want to trade in foreign exchange, indices, or stocks, they are open during regular office hours during the week.
If you want to deal with the cryptocurrency market, the preferable times are during the weekdays but are still tradable in large volumes during weekends.
Countries that Accept CM Trading
- United Arab Emirates
- South Africa
Key Benefits from Client Testimonials
Here are so many aspects about the CM Trading platform that customers find truly beneficial and helped them to be better traders:
- Extensive educational materials
- MT4 and mobile platform
- Forex signals daily
There are some elements that clients recommend to improve upon:
- Withdrawal fees
- Wide forex spreads
CM Trading is a multi-awarded company because they provide the most top-notch services throughout the financial industry. They even won the coveted award for Best Financial Broker for three consecutive years.
- Best Performing Broker in Africa in 2017
- Fastest Withdrawal in 2018
- Best Education in 2018
- Fastest Growing Financial Broker in the Middle East in 2018 and 2019
- Best Financial Broker in Africa in2018, 2019 and 2020
If you are looking for the best online trading platform that is a cut above the rest, CM Trading is the one you need. They have the most comprehensive, user-friendly, and efficient tools that can aid in your journey to become a successful online trader.
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