CM Trading
Who is CM Trading?
CM Trading is a forex and CFD broker based in South Africa. First founded and established in 2012, the company motto is “Founded by traders, for traders.” CM Trading offers traders access to the wide selection of educational materials and packages, including advanced trading tools and platforms. The broker has won numerous industry awards over the years, including more recently the Best Performing Broker Africa and Best IB program GCC in 2021. The company is fully licensed and regulated by the Seychelles Financial Services Authority with license number SD070. It is also authorised by The Financial Sector Conduct Authority (FSCA), which is the only regulatory body for financial institutions in South Africa, with a registration number of 2013/045335/07.
Commissions and Fees
CM Trading places an emphasis on providing a good degree of transparency to all its clients, ensuring that information about products and services, including fees, rules, commissions, and costs are clearly stated on its company website. Like many of its nearest competitors, CM Trading takes a fee from the spread, and on major forex pairs, for example, EUR/USD and GBP/USD, spreads vary between 1.5 pips and 2.6 pips. While this broker does not charge any additional commissions, the spreads are not as tight as other similar forex brokers, meaning CM Trading is not as competitive in this regard. Moreover, in terms of fees, there is a $15 inactivity monthly penalty applied to accounts that have been unused after three months. Meanwhile, another cost incurred by traders comes in the form of overnight rollover fees, which are charged to positions held overnight.
Trading Accounts
There is a choice of four different trading accounts, with each option offering features to suit the specific trading requirements of clients of all experience levels, from beginners to professional and advanced traders. CM Trading offers Bronze, Silver, Gold, and Premium accounts. All accounts feature a demo account, market revises, eBook, and webinars. The Bronze account has an investment amount range of between $250 and $999 and includes regular spreads and an introductory video on demand (VOD) service. The Silver option has a deposit range of between $1,000 and $9,999, spreads as low as 1.2 pips and a personal assistant. Gold account clients can trade between $10,000 and $99,999, with spreads down to 0.9 pips, three risk-free trades and an account manager. Lastly, the Premium account has a wider range of features, with traders being able to invest an amount over $100,000, with a cash back rebate, customised account, trading specialist, access to a trading room, top news and analysis, along with special offers and an ECN account option.
Education and Research
CM Trading offers its clients an extensive education centre, with a wealth of trading resources, including trading videos, webinars, tutorials, eBooks, and PDF files. The broker’s content-rich educational offering is well-suited to beginner traders, and there is also a handy blog section, meaning clients can further educate themselves on the markets to enhance their general trading knowledge. Moreover, CM Trading has a Smart Communication System, a free plugin service which helps clients to make the best out of their trading.
Pros and Cons
The company has a comprehensive education program, with an excellent range of features, and there is a good variety of trading account available, each with different features on offer to clients. CM Trading is fully authorised and regulated by the FSCA and has received several industry awards. However, there is not as many instruments to trade on, when compared to other similar brokers, with just 28 currency pairs and over 50 tradable instruments offered.
About CM Trading
CM Trading is a reliable and trustworthy broker, with clients’ funds being safe and segregated from operating capital in the major Tier 1 banks. The company has a good range of asset types available to traders, including CFDs for stocks, commodities, forex, and indices, with a leverage of up to 400:1. The latest technology is employed in terms of dealing with the transaction of deposits and withdrawals.