The Forex market has spread around the globe, and it has also become mainstream in South Africa. Many South African citizens want their share in the profitable market and look for legit Forex companies to register with and start their trading careers. CM Trading is one of the companies that tries to make sure that clients can trade as if they were in Europe. This is one of the advantages of the Forex industry where everyone has the same opportunity in the business, regardless of the location. This CM Trading review will give you a better insight into the company’s business conduct and operations.
Background and Regulation
The CM Trading company was established in 2013 by a group of professional traders. This relatively new CDF broker has two operating centers, Johannesburg in South Arica, and the Seychelles. Many South African brokers are unlicensed, but CM Trading does not fall into that category. They play by the rules and have registered with the South African regulatory body Financial Services Board (FSB) which is known for strict policies and high standards. The FSB looks up to European and American regulatory systems and tries to implement a similar policy. If you register with FSB, you know that your funds are safely held separate from the capital funds of the company. This is very important to keep the business transparent. CM Trading keeps up with the latest trend of data encryption by using the latest SSL technology to keep your personal and financial data secure.
CM Trading Trading Platforms
You can opt to open an account on the MetaTrader 4 platform or the Sirix trading platform, given that both are supported by this broker company. MetaTrader 4 is globally known as the platform that offers everything. The user-friendly interface and the extra options that traders need are part of the MT4 package. The Sirix trading platform is web-based, which means that you do not have to download or install anything. You simply register with an account directly in the web-browser. The platform was developed in 2014, and more and more brokers opt for this highly-convenient platform.
CM Trading mobile app is also available across various devices.
CM Trading offers four types of accounts for traders at different levels. All four accounts offer free Demo accounts and risk-free trades once you’ve signed with a real account.
- The Mini account requires the smallest minimum deposit, namely $250 up to $999. This account provides you with a weekly market review and the CM Trading e-book. The leverage is 1:400.
- You can register with the Standard account with a $1,000 deposit, and you will get some extras like the regular CMT Debit Card, Webinars, and one risk-free trade. The leverage is 1:200.
- The third is the Executive account requiring a $5,000 deposit. It offers a VIP CMT Debit Card, tighter spreads, webinars on multiple subjects, and two risk-free trades. The leverage is the same as with the Standard account.
- CM Trade offers a fourth Gold account for the true professionals and passionate traders. The minimum deposit required is $25,000. The account package includes more competitive spreads, multiple webinar sessions, three risk-free trades, two trading strategies, and same day withdrawals. The leverage is again 1:200.
Spreads vary from account to account starting at 2-3 pips for micro accounts and lowering for an additional pip with each following account.
CM Trade Bonuses
When you deposit for the first time, you get an e-book for free. When you deposit $500, you can get up to 20%. They also have a free Intercash international debit card available with $1,000 deposits. The broker also offer the CM Trade $50 no deposit bonus for trying out free signals. Many time- limited promotions are offered including contests which are very rewarding.
Deposits, Withdrawals, and Banking
We’ve already established that your funds are safe with CM Trade and that you can withdraw your investments with no further complications. Make sure that you use a CM Trade accepted payment method to create and maintain an account. You can deposit and withdraw with the CM Trading Forex company via all major credit cards, bank transfers and eWallets such as Neteller, CashU, UnionPay, and MoneyNet. Withdrawal requests are handled within 24 hours, except for clients with the prepaid CM Trading debit card, whose requests are handled instantly. Their MasterCard prepaid card can be used at ATMs or for purchases. This is a distinctive feature that no other broker offers.
Customer Support with CM Trading
First of all, this broker is well- known for the distinguished educational materials they offer on the various topics covering Forex trading. As a professional broker, CM Trading is aware that a strong and efficient customer support is essential to smooth business operations. The customer support is the main link between investors and the company. Customer support staff should be knowledgeable on all aspects of the company and Forex trading, competent, and friendly to clients. The CM Trading customer support is available 24/5 and can be contacted via live chat, e-mail, and phone (16 international phone lines). Unfortunately, customer support is only bilingual, but knowing CM Trading, probably not for long.
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