CM Trading is a regulated South African broker that offers CFDs on FX pairs, cryptocurrencies, commodities, indices and stocks. It is the brand name of Global Capital Markets Trading (a company registered in Seychelles – Registration Number 104785) and BLACKSTONE Marketing SA(PTY)LTD, which is regulated by the Financial Sector Conduct Authority (FSCA) under number 38782. The website is operated by CMT Processing Limited.
Editor’s Note: Why CM Trading Sucks In 50 Words
First of all, this broker accepts only a limited number of countries, as it is focused mainly on South African clients. So, unless you use a VPN (or live in one of the accepted countries), you won’t be able to register; and if you are using a VPN, you probably won’t be able to get past their verification system (AML and KYC), which requires you to send ID and address proof. Secondly, if you are looking to trade cryptocurrency CFDs, you have to know that CM Trading only offers 4 digital assets (Bitcoin, Litecoin, Ethereum, and Ripple), which is far less than we are used to seeing from CFD brokers.
Why CM Trading Doesn’t Suck In 50 Words
The broker has been in business since 2012, is regulated and offers a good choice of platforms, with high leverage going up to 1:200 and enjoys an overall good reputation. It’s true there are many other brokers that fit this profile, and it’s not something never seen before, but it’s good to see a broker that ticks all the boxes (or at least the more important ones).
Is CM Trading A Scam?
All indications point towards CM Trading being a respectable broker, but of course, we can never rule out the possibility of a scam, and this applies to almost all brokers. Although the financial regulator of this broker is not one of the most prominent, the fact still remains that a financial watchdog is supervising CM Trading’s actions and more importantly, clients have someone to complain to, if problems arise.
Another thing worth mentioning is CM Trading’s long time in business. As we know, scam brokers usually “survive” a few short years before disappearing into the sea of forgotten names, because clients realize fairly quickly they are dealing with fraud and stop sending them money. CM Trading is active since 2012, which doesn’t make them one of the oldest brokers in the business, but they are definitely not a newcomer.
Should I Open An Account With CM Trading?
This broker offers two trading platforms: one is web-based, focused more on copy trading and mobility (Sirix) and the other is the very popular Meta Trader 4 (desktop version), which is geared towards more experienced traders, who love to do their own technical analysis. If you are a technical trader, who’s used to big charts and lots of technical indicators, you will probably be less fond of Sirix, which looks more like a social trading platform, with charts and trading instruments being secondary to copy trading features. On the other hand, if you are a relatively new trader who just wants to copy other, more experienced users, you will not like the professional look of the slightly more complicated Meta Trader 4. But, no matter what you like, CM Trading offers it, so both types of traders are satisfied.
CM Trading only offers two types of accounts: Demo and Real, with deposits, starting at $100 if you are using debit/credit cards or certain e-wallets but Webmoney and crypto deposits have a minimum requirement of $250.
I don’t know why they’ve decided to differentiate deposit minimums in this way, but at least the lowest possible deposit is fair, considering that most brokers ask you for $250.
Education is rich and composed of e-books, training videos, webinars, video chart analysis, and written chart analysis. Overall it’s a good selection but don’t expect to become some sort of market guru after going through their material.
To conclude, CM Trading is all right, but nothing outstanding, innovative or never seen before. The trading conditions are fair, the brokerage is regulated and has enough experience under the belt, but that being said, there are better options available.
The brokerage’s postal address is 14th Floor, Sandton City Office Tower 9, Corner Rivonia Road and 5th Street, Sandton, Johannesburg 2196, South Africa. They can be contacted at phone +27 10 500 80 26 (South Africa), +7 499 350 9176 (Russia), +331 707 265 08 (France) and email [email protected]
CM Trading Complaints
Although the general opinion surrounding this broker is positive, we did manage to find a few complaints about high-pressure sales tactics. Some clients have complained that certain account managers treated them badly because, allegedly, their account balance was too low and hence the account manager didn’t make any profit for himself. However, CM Trading reps answered the complaints in the same forums, and I’d say that this shows some interest for the client (and for their own reputation, let’s be honest). Some things are certain: 1 – all brokers will have complaints made against them and 2 – you should never deposit more than you want to just because an account manager is pressuring you.
CM Trading Withdrawal
The processing time is fair, at 3 business days and the minimum withdrawal amount is very low, at just 20 USD. The methods are credit/debit cards, wire transfers, Neteller, Fasapay, and cryptocurrencies. The fees are a bit confusing and mentioned only in their Terms And Conditions: they will charge the going market rate plus 2% for deposits and market-rate less 2% for wire withdrawals. Crypto deposits will use going market rate plus 3% and withdrawals will use going market rate less 4% (the 4% rule also applies to credit/debit card withdrawals).
CM Trading Extras
This broker is among the few to still offer a 100% bonus on deposits of at least 250 USD, so we will list this as an extra feature. Other limited-time promotions are also available but unfortunately, the Terms And Conditions for bonuses and other promotions cannot be accessed (the dedicated page returned the error 404), so we recommend asking for written information.
CM Trading also offers the Guardian Angel system, which is a “Smart Communication System” service that includes direct messages from CM Trading regarding signals and/or other relevant info, a Stop Loss calculator and volatility indications. Apart from this, you can do some social trading (called CopyKat on their platform) and receive Flexi signals (very similar to Trading Central signals, maybe the same).
CM Trading Overall Ratings
User Friendliness 15/20
The website is only available in 3 languages, but the information is easy to access and the site has an intuitive layout. The web-based trading platform is a bit cluttered and the social trading features take up too much space, so if you are not interested in copying other traders, you will find it annoying. Demo accounts are available but a bit tricky to get; mobile platforms are available; US traders are not accepted.
Range Of Markets, Spreads And Leverage 14/20
CM Trading offers all major asset classes (FX, indices, commodities, stocks and cryptocurrency) but the range is somewhat limited, especially if you want to trade cryptocurrencies (only Ethereum, Bitcoin, Ripple and Litecoin available). Spreads are medium-to-high for currencies (EUR/USD around 2 pips at the time of writing) and relatively high for crypto (BTC/USD at more than 90 USD). Leverage is high, at 1:200 for currencies and 1:5 for cryptocurrencies.
Fees And Support 14/20
Accounts will become inactive after a period of 90 days without trading or depositing and will be charged a 15 EUR/USD monthly fee. An inactive account will become Dormant after 12 months of inactivity, and as a result, it will be charged a monthly fee of 100 EUR/USD, or whatever is left in the account if the amount is less than 100 EUR or USD. Deposit and withdrawal fees can get a bit confusing and we advise that you ask for further clarification from CM Trading (see CM Trading Withdrawal section above). Support is available through phone, email and live chat; we’ve tested the latter and it was satisfactory, with polite reps that answered questions in a helpful manner.
Deposits And Withdrawals 16/20
The processing time for withdrawals is up to 3 business days, but expect more time to pass until the money will reach your personal account (which is normal). The methods are wire transfer, credit/debit card, CashU, Neteller, Fasapay and according to their Terms & Conditions, cryptocurrency; however, we couldn’t identify additional information about the latter method. The minimum deposit is $100 through cards and some e-wallets but Webmoney and crypto deposits have a minimum requirement of $250; the minimum withdrawal is $20.
CM Trading Extras 16/20
Social trading, 100% Bonus on deposits above 250 USD, Guardian Angel system (available only for Real accounts) and Flexi Signals which seem very similar to the signals (technical analysis) provided by Trading Central but there’s no additional information about who actually produces these signals.
CM Trading Ratings (75) + Regulated (+3) = 78/100