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CM trading Broker Review

FX Scouts By Jeffrey Cammack Updated: October 14, 2019
Average Score
2 / 5
Min. Deposit USD 250
Max. Leverage 30:1
Min. Spread 1.5 pips
Regulators FSCA
Regulator Origin FSCA
Broker Type Market Maker

Summary

CM Trading was founded in 2012 in Johannesburg and are regulated by the South African FSCA. A market maker broker offering competitive spreads and 200:1 leverage, CM Trading won Best Performing Broker in Africa in 2017 (African Investor). CM Trading supports MetaTrader4 and Sirix WebTrader (across all mobile devices) and offers a copy trading system allowing users to follow and copy professional traders. As an FSCA regulated broker they keep segregated bank accounts, ensuring the safety of client funds.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Bonuses
Beginner Friendly Standard
About our review process

Trading Conditions

Minimum Deposit USD 250
Base currencies EUR, USD
Number of FX Pairs 47
Hedging Allowed
Scalping
Swap-Free Accounts

Average Spreads

EUR / USD 1.5
GBP / USD 2.6
USD / JPY 1.7

Company Details

Company name BLACKSTONE Marketing SA(PTY)LTD
Founded 2013
Website Visit Website
Type Market Maker
Regulators FSCA
Office locations South Africa,Mauritius,Israel

Deposit & Withdrawal Methods

Supported Platforms for CM trading

CM trading Broker Detailed Review

Is CM Trading Safe?

Blackstone Marketing SA, the parent company of CM Trading, has been regulated by the FSCA (FSP 38782) since 2009, and CM Trading has been operating from its headquarters in Johannesburg since 2012.

CM Trading won the Best Broker 2018: Africa award from African Investor for quality and innovation, a strong signal from the African investor community that CM Trading is considered one of the continent’s top brokerages.

Client funds are deposited in segregated accounts and the company is subject to annual audits by the FSCA to ensure compliance. Considering the company’s global reach, we would be more comfortable if the company was also subject to international regulatory oversight from the FCA, CySEC or ASIC.

With FSCA oversight, respect for client funds and industry recognition CM Trading meets the minimum requirements for us to consider them a safe broker to trade with.

CM Trading for Beginners

CM Trading is a good Forex broker for beginners, with an excellent education section and adequate analytical content – but if your priority is to have a South African broker, CM Trading are definitely one of the better local operators. 

Educational Material

Training Videos

The educational material at CM Trading has considerable depth when compared to it’s competitors. The backbone of the education section is an exhaustive library of training videos with subjects from common Forex terms and social trading to MetaTrader 4, trading strategies and trading psychology.

While most of the training videos are aimed at beginner traders, lessons in technical and fundamental analysis and trading plans support more advanced learning. Other more advanced videos cover EAs to use with the MT4 platform and other methods of automated trading. Interestingly, you do not have to be a CM Trading client in order to access any of this material.

The one downside to CM Trading’s video library is that all the videos are only accessible through CM Trading’s own web-player, which is dated and has very limited functionality. This is frustrating, especially for those of us accustomed to YouTube and other popular webplayers.

Webinars

CM Trading also hosts weekly webinars on a range of subjects, recent webinars include the Psychology of Trading and Trading Cryptocurrencies. These webinars are simple to register for and, once more, you do not have to be a CM Trading customer to access them.

Video Chart Analysis

CM Trading offer a fairly standard Chart Analysis section, accompanied by a brief yet useful analytical breakdown of the major currency pairs.  Also on offer is a Video Chart Analysis section, unusual as most brokers commonly only offer chart analysis education in a written format. The video chart analysis on offer is straightforward and detailed and will be helpful to both novice and expert traders.

Ebooks

CM Trading also offers a collection of eBooks covering Forex terms, trading psychology, basic and advanced technical analysis and basic and advanced trading strategies. These are also available to non-customers but unfortunately non-downloadable.  Much like the with the Training Videos, CM Trading’s webplayer is not a particularly easy way to digest new information, even in written format. In fact, at the time of this review, the eBooks were completely unviewable as the webplayer seemed to be malfunctioning. 

Analysis Material

CM Trading’s analysis material offering is basic but adequate. As you would expect from any modern broker, you will find a perfectly functional economic calendar, highlighting the major events of the day.

CM Trading also post a Daily Market Review every morning before market-open in South Africa. This is a five minute look at potential trading opportunities across the major financial markets (Forex, commodities, stocks, etc) for the coming day and is generally well researched and well-presented. There does not seem to be and end-of-day review, which be a helpful addition, especially for beginner traders.

Customer Support

CM Trading run a customer support team 24 hours a day, 5 days a week. The team is available via live chat, WhatsApp chat, email and via 11 different international phone numbers (in South Africa, Canada, Malaysia, UK, China, France, Brazil, Mexico, Saudi Arabia, Russia and Bahrain) with full language support for each region.

Additionally, CM Trading provides MT4 support to help beginner traders get started and one-on-one training is available to larger depositors.

Trading Conditions

Much like other brokers, CM Trading’s spreads change depending on your account type; with the higher deposit account types having the tightest spreads. 

Deposits and withdrawals are seamless and are generally carried out within 24 hours. CM Trading also has a range of deposit bonuses for traders depositing over 250 USD – these also improve with higher deposits.

Accounts Types

CM Trading has 4-different account types, mini, classic, executive and premium, depending on the size of your deposit. All customers also have access to a demo account, which unfortunately expires after a month of use – not ideal for traders looking to test out new strategies without getting burned.

Leverage is set at 200:1 for all account types and all customers have access to daily and weekly market reviews. The premium account offers 3-risk free trades (2- for the executive and 1- for the classic), and same-day withdrawals, which is not available for the lower tier of account types.

All active and funded trading accounts get free access to CM Trading’s own Forex trading signals. Signals are delivered via your platform and SMS, and will be highlighted in the daily morning review. This free service is excellent for beginners not yet comfortable with technical analysis.

Spreads and Commissions

As mentioned above, spreads become more competitive depending on your deposit.

For Mini and Classic Accounts, spreads on major currency pairs average between 2 to 3 pips with the EUR/USD averaging 1.5 and the USD/JPY averaging 1.7. The higher tier accounts provide spreads as low as 1-pip on major currency pairs.

While the spreads for the Mini Account are fixed, the spreads for the higher-tier accounts are tighter and offer more competitive floating spreads.

As CM Trading is a market maker, all broker fees are contained in the spread and no commission is charged on trades.

Bonuses

Though the bonuses at CM Trading often change, they generally offer a 20% bonus for new clients and free signals for all accounts.

Deposits and Withdrawal Fees

CM Trading simplifies deposits and withdrawals by supporting a wide range of methods. They accept all major credit and debit cards as well as wire and bank transfers, CashU, Neteller, and Fasapay.

Withdrawals are processed quickly if internationally identity documentation is in place. For premium accounts, they offer same day withdrawals, which is not found at many other brokers.

CM Trading Platforms

MetaTrader 4

CM Trading offers a customised version of the popular Meta Trader 4 platform, the industry standard for Forex trading.

MT4 allows trade using EAs, and also allows for hedging or scalping. If you have your own existing Expert Advisor it will integrate seamlessly with CM Trading’s version of MT4. 

Sirix Webtrader

Sirix WebTrader was released in 2014 by Leverate and was developed in HTML5 so can be used on any phone, tablet or desktop. It has over 60 built-in indicators, a high level of security and receives regular software updates.

Designed to speed up trading, the Sirix trading windows can be pre-configured to include the instruments and lot sizes you trade regularly. One-click-trading can be enabled or disabled.

Additionally, Sirix Webtrader comes with a built-in copy trading functionality, which we will look at in more detail below.

Trading Tools

CopyKat

With CM Trading’s Sirix WebTrader you will also receive access to Sirix CopyKat, Sirix’ copy trading tool.

CopyKat allows you to watch professional traders’ deals and copy them in real time, but also allows for automated copying. The system is easy-to-use and supports one-click trading.

Guardian Angel

CM Trading’s runs a Smart Communication System for its customers called Guardian Angel, which provides support and direct messages concerning market trends.

More importantly, for those of us that are often away from our desktop, it also provides automated feedback on how you trade, highlighting market volatility indications and a Stop Loss calculator.

CM Trading Mobile Apps

CM Trading’s Sirix platform is available across all devices with little loss in functionality. CM Trading also offers a mobile trading platform driven by MT4

Evaluation Process

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the CM Trading offer. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

CM Trading Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. CM Trading would like you to know that: Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.

Overview

CM Trading is a traditional FSCA-regulated market maker broker focused on its South African client base. They are an established, award-winning, and well-trusted brand in the African Forex industry

Spreads are in line with competitors, but if you are trading an account above 25K, you qualify for exceptionally tight spreads. CM Trading’s platform offering centres around MT4, but they also offer Sirix Webtrader- which comes with a built-in copy trading tool.

CM Trading checks all the boxes as a local, trustworthy, tech-savvy broker, that provides superior trading tools.

Most retail CFD accounts lose money. Your capital is at risk.

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Overall Rating 2/5 4/5 4/5
Minimum Deposit USD 250 USD 100 USD 100
Regulation
FSCA FSCA
CySEC CySEC
ASIC ASIC
FSCA FSCA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
Broker Type Market Maker Market Maker Market Maker
Read Full Review Read Full Review
Trading Conditions 3 / 5 4 / 5 4 / 5
Trading Platforms 3 / 5 3 / 5 3.5 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
% Lose with this broker 73% of retail investor accounts lose money when trading CFDs with this provider 76.60% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 1.5 pips 0.9 pips 0.7 pips
Hedging
Scalping
Account Types
  • Standard,Vip,Professional
  • Mini
  • Standard
Trading Platforms MetaTrader4, WebTrader, Sirix MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Methods Bank Transfer, Neteller, Visa, Mastercard, Fasapay Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Paypal POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer
Clear all brokers

CM trading

Visit Website

Markets.com

Visit Website

AvaTrade

Visit Website
Overall Rating 2 / 5 5 / 5 4 / 5
Min. Deposit USD 250 USD 100 USD 100
Regulation
FSCA FSCA
CySEC CySEC
ASIC ASIC
FSCA FSCA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
Broker Type Market Maker Market Maker Market Maker
Read Full Review Read Full Review Read Full Review
Trading Conditions 3 / 5 4 / 5 4 / 5
Trading Platforms 3 / 5 3 / 5 3.5 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
Risk Disclaimer 73% of retail investor accounts lose money when trading CFDs with this provider 76.60% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 1.5 pips 0.9 pips 0.7 pips
Hedging Allowed Yes Yes Yes
Scalping Allowed Yes Yes Yes
Platforms MetaTrader4, WebTrader, Sirix MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader
Funding Bank Transfer, Neteller, Visa, Mastercard, Fasapay Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Paypal POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.