CM Trading Review
One of the most important things that every trader needs is a trustworthy and reliable broker; how can you operate in the market without a broker you cannot depend on? CM Trading launched its unique brokerage services back in 2012 and have been working out of the well-established financial hub in Johannesburg, South Africa, but also have an operating center in Seychelles. Traders all over the globe can enjoy the full trading experience with CM Trading because it is able to offer a myriad of features and services that are not available elsewhere. It is owned by Global Capital Markets Trading Limited and is regulated by the Financial Services Board (FSB) in South Africa.
When using CM Trading, both beginners and expert traders are able to experience a professional and secure trading environment in numerous markets. The platform has also been the recipient of a wide array of prestigious awards in the industry and is committed to innovation. The education center at CM Trading is also one of its most popular features and has helped in distinguishing it from others in the market. Traders can also take advantage of quick order execution from most liquidity providers when they are using CM Trading for their trading needs.
Unique Features of CM Trading
While the broker is renowned all over the globe due to its forex trading capabilities, but it has expanded its services and also offers traders support for indices, stocks and commodities. This means that you can fulfill your trading goals right from a single platform. It also has a demo account that makes it a great addition for beginners because it gives them the opportunity to practice. The trading accounts offered by CM Trading have been divided into four categories according to the trading environment and initial investment. The Mini account is the most basic option and has a $250 minimum deposit.
Next is the Standard account that boasts a minimum deposit of $1,000 and offers a single risk-free trade. The Executive account is the third option that requires a deposit of $5,000 and offers 2 risk-free trades along with other features. There is a Gold account option that starts its deposits with $25,000, three risk-free trades and plenty of additional features. CM Trading also offers an Islamic Account in accordance with Shariah Law and rules and is strictly aimed at Muslim clients. They offer the same number of assets and settings as other accounts.
Spreads and Leverage
If you are trading through a mini or standard account, you will see that the spreads for major pairs is usually between 2 to 3 pips and this is perfectly in accordance with other competitive brokers in the market. But, the good news is that CM Trading also offers a 1 pip discount when you choose the higher account classifications such as Gold or Executive. As far as leverage is concerned, you will be able to enjoy a ratio of 400:1 for forex trades when you have a mini account. Other account classifications offer you leverage of 200:1 and there is 50:1 leverage offered on CFDs.
One of the most appealing features of CM Trading is that it provides support for different types of trading platforms such as the MetaTrader4 platform, the mobile MT4, web trader and Sirix web trader. You can access the MT4 platform on both iOS and Android smartphones. Traders do need to download MT4 as a software package, but the platform is quite easy to understand and use. It allows them to select from an array of charting options for tracking market performance of a plethora of currency pairs. Trades can be instantly executed with just a click of a button and that too as per real-time information.
WebTrader, on the other hand, doesn’t need to be downloaded. The Sirix trading platform is preferred by traders who don’t wish to download anything and it is essentially a modified version of the MetaTrader4 mobile app and can be used for trading on large tablets and smartphones. The platform also supports mirror trading and it is fully integrated so traders can begin social trading.
Deposits and Withdrawals
Depositing funds has been made immensely easy by CM Trading for its users because they accept all major debit and credit cards, promote bank wire transfers and also offer Skrill (Moneybookers) and CashU. Withdrawals are also very quick as they are usually processed within a 24-hour period, as long as traders provide the internationally mandated documentation needed for verification purposes. One unique aspect of this trading platform is that it is the only brokerage that provides its clients with their own MasterCard prepaid cards. Traders can use these cards as ATMs or for making purchases at POS all over the globe.
Beginner Support and Educational Material
CM Trading believes in providing every trader that uses its platforms with the best possible resources that can be useful in improving their trading results. It doesn’t matter if you are a fresh trader or someone who has had experience in the workings of the market; CM Trading has something to offer to everyone. When you sign up on the platform, you can get access to some of the top educational materials in the market and this includes training videos that can teach traders all kind of strategies. There are also webinars, trading signals and also fundamental and technical analysis along with expert advisers to help you in your trading.
Pros and Cons
CopyKat is one of the major benefits that CM Trading has to offer to the traders. With this system, users can copy the top 100 traders in the market, even if they don’t have any previous knowledge or skills. This means that you will make money when you do.
Even though CM Trading may seem like a broker that is located far away, it provides support to traders all over the globe and their services is undoubtedly competitive. They make the trading experience immensely enjoyable, for the beginner and the seasoned veteran.