Founded in 2012 in South Africa, CM Trading is a market maker with high ongoing trading costs and high minimum deposits compared to other Forex brokers. CM Trading offers six trading accounts, including two ECN accounts, and offers trading on multiple instruments, including Forex, indices, cryptocurrencies, commodities, oil, and metals. To get more news about cm index review, you can visit wikifx.com official website.
Minimum deposits start at 250 USD on its entry-level account with average spreads at 1.5 pips on the EUR/USD. Minimum deposits escalate quickly, with the Premium Account requiring a minimum deposit of 100,000 USD but still featuring relatively high ongoing trading costs. In addition to the high minimum deposits and trading costs, a significant drawback for beginner traders is the lack of educational and market analysis materials offered at CM Trading. CM Trading charges high deposit and withdrawal fees compared to most other brokers, but local customer service is generally excellent.
Like most Forex brokers, CM Trading supports the MT4 platform and allows for all trading strategies including hedging, scalping, signal trading and algo trading. In addition, it also provides support for Sirix Webtrader – a rare web-based trading platform that runs in browsers on all devices. Sirix comes with a selection of trading tools, including the Guardian Angel system – which provides automated feedback on your trading style – and the CopyKat copy trading system. Malaysian clients of CM Trading will be trading with GCMT LTD, which owns the CM Trading brand and has been regulated by the Seychelles Financial Services Authority (FSA) since 2021.
Unlike other regulators in the UK and EU, the FSA does not force CM Trading to restrict leverage, participate in a client compensation scheme, or offer negative balance protection. But all client funds are held in segregated accounts with top-tier banks and CM Trading is subject to frequent audits of its finances and client operations. While clients of CM Trading do not have negative balance protection, stop out levels are set at 50% making it very unlikely that trading accounts will fall into a negative balance.
Overall, although CM Trading lacks oversight from any of the major regulators, it has a good reputation amongst its clients across Africa and the Middle East and is widely recognised as a trustworthy broker. CM Trading is unusual amongst brokers in that it offers six different account types, where most brokers will offer three or fewer. Trading costs will vary depending on the account type chosen by a trader (for more detail on CM Trading’s account types, click here).
Despite the variation, overall trading costs are higher than average across all six accounts, though the accounts themselves do offer more benefits tied to higher minimum deposits. Minimum deposits are higher than average across all the account types too, with the entry-level account requiring 250 USD to open. Most entry-level accounts at other similar brokers will have a 100 USD minimum deposit if they have any requirement at all.
CM Trading’s accounts were assessed to compare the costs to those of other brokers. The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission:
