CM Trading Review – Are They a Scam?

Lets First Go To The Bottom Line:

If you’re in search of a trustworthy broker then CM Trading should be included in your list. Why? Because they offer a range of platforms that come with tools and resources that you can utilize to have more efficient trading results. Another advantage is that they are regulated by the FSB which is a trusted financial regulatory agency in South Africa. They offer a complete package that is designed to meet any kind of trading goal.

Final Score: 94/100
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CM Trading Overview

Founded2011
PlatformMetaTrader 4, Mobile Trader, Tablet Trader, WebTrader, Sirix Platform, Sirix Mobile, CM Trading CopyKat, Social Mobile App
Minimum account size$250
Minimum lot size0.01
Tradable assetsmore than 80 instruments
Maximum margin1:200
Spread on EUR/USD2.6 pips
Payment methodsCredit/Debit Cards,Wire Transfer, Neteller, Cash U, China Union Pay, Fasa Pay, MYR/IDR, YuuPay, MoneyNet International
Demo accountUnlimited time with $50,000 virtual money
Accepts South African tradersYes
RegulatedFSB (South Africa)
SupportMail, Email, Phone and Live Chat
Websitewww.cmtrading.com

 

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Pros

  • Diversity of platforms
  • Unlimited demo account
  • Licensed by a local South African financial regulator
  • Fast processing of withdrawals

Cons

  • Minimum deposit a bit higher than average
  • Only has around 80 instruments

CM Trading is a global brokerage company that specializing in forex and commodity trading. What’s interesting about this broker is that they have a variety of platforms that is designed for traders of all types. Such features sound promising but can they be trusted? Let’s find out.

Platform

They practically have all the types of platforms to offer so users can have access to their trading account almost anywhere. This includes MetaTrader 4, Mobile Trader, Tablet Trader, WebTrader, Sirix Platform, Sirix Mobile, CM Trading CopyKata and Social Mobile App. Most of these platforms also come with tools that you can use to improve your trades. This earns a Platform score of 10/10.

Design

All platforms feature user-friendly designs and this makes it easy even for beginners to get used to the trading system. The loading time only takes a few seconds and for this I am giving this broker a Design score of 5/5.

cmtrading platform

Minimum Deposit

Among the few disadvantages of this broker is the $250 minimum deposit requirement and this could be an issue for those who want to start forex trading with a small capital. This warrants CM Trading with a minimum deposit score of 3/5.
 

Minimum Lot Size

The minimum lot size that they allow is 0.01. This size is ideal for traders who prefer investing with a much smaller lot size. Based on the scoring table, they got a Minimum Trade Score of 4/5.

Tradable Assets

There are around 100 instruments composed of forex, CFDs, indices, commodities and metals. They have also recently added cryptocurrencies including Bitcoin, Ethereum, Ripple and Litecoin allowing you to invest on this emerging market. It’s a little lower in comparison with the variety of instruments that other brokers have. This merits a Tradable assets score of 4/5.

cmtrading assets
 

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Payouts

You can trade major currency pairs with very tight spreads and this can effectively lower the cost of trading of forex against other assets. For example, the EUR/USD currency pair has a spread of 2.6 pips which a tad better than the spreads offered by other brokers. This warrants a Payouts score of 8/10.

Withdrawal Time

Withdrawing the funds takes only a few simple steps. You only need to complete the online withdrawal request form, submit it and the request will be forwarded to their Finance Department. Within 24 hours, you will receive an email notification about the status of your request. If you’re a Gold account holder, you may enjoy same day withdrawals as a privilege.This kind of speed is above the industry standard which is why this broker notched a Withdrawal Time score of 10/10.

Deposit and Withdrawal Methods

It is possible to fund the account via Wire or Bank transfer, debit or credit cards, CashU, Neteller and Fasapay. With so many options, you’ll surely have no issues in transferring money to and from your account. This merits a Deposit and Withdrawal Methods score of 5/5.

Customer Support

In terms of customer service, their agents are able to provide above average support. The questions that were thrown at them were all answered with professionalism and this is the reason why CM Trading eanred a Support score of 15/15.

cmtrading support

Quote Accuracy

Various tests were done to determine the accuracy of the quotes and based on the findings, there were no delays in the market prices and because of this, they earned a Quote Accuracy Score of 10/10.

Reputation

CM Trading has been operating since 2011 and has managed to improve their services for the benefit of their traders. The fact that they are licensed by the Financial Service Board (FBS) means that the cab be trusted. The search results also revealed a lot of good reviews from traders alike and this warrants a Reputation score of 20/20.

cmtrading reputation
cmtrading reputation
cmtrading reputation

Conclusion

If you’re in search of a trustworthy broker then CM Trading should be included in your list. Why? Because they offer a range of platforms that come with tools and resources that you can utilize to have more efficient trading results. Another advantage is that they are regulated by the FSB which is a trusted financial regulatory agency in South Africa. They offer a complete package that is designed to meet any kind of trading goal.

Final Score: 94/100

 
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