Want to Trade with a regulated South African broker?
Make sure to check out CMTrading and test it with a FREE demo!
cmCMTrading claims to be “your local international broker” and that is true, at least for South African traders who get localized customer support. This was one of the main reasons why we decided to do a CMTrading review. CMTrading also offers a solid selection of trading assets, interesting trading platform and a variety of deposit and withdrawal methods. This forex and CFDs broker impressed us at the first glance, especially as CMTrading is FSCA regulated broker.
It seems that this broker offers transparent trading, as we were able to find all relevant documents after just a few clicks. Still, make sure to read our CMTrading review and find out more about the trading experience, account types, customer support, banking methods and whether this broker is a scam or not.
CMTrading Account Types
CMTrading has a good selection of different account types. Traders of all kinds, from beginners to professionals can easily find one that suits them best.
Mini account is available for traders who deposit anywhere between $250 and $999. This account includes a demo account, 1:200 leverage, spreads, daily and weekly market reviews and CMTrading e-book you can use to find out more.
Classic account requires a minimum deposit of $1000. For this price tag, you get all the benefits of the mini account as well as regular spreads, 1 risk-free trade, and a webinar – Introduction to forex.
This account is oriented towards more professional traders as it requires a $10,000 minimum deposit. You get tighter spreads, 2 risk-free trades and more webinars that will introduce you to the world of technical and fundamental analysis. You also get all the features available with the classic account.
Premium account is the one you get after making a $25,000 deposit. You get competitive spreads, same-day withdrawals, 3 risk-free trades, additional webinars, and two trading strategies.
It seems that CMTrading really created something for everyone.
CMTrading Risk-Free Trades
We notice dhow this broker offers risk-free trades. These trades have special terms and conditions, so make sure to read them to fully understand what it’s all about.
Risk-free trading rules
- The number of trades is determined by the deposit – the more you deposit, the more risk-free trades you get.
- They can be traded with up to 0.1 lot and only on major pairs
- They can be opened for up to 24 hours. After that, it will become a regular trade.
- Risk-free trade can be open at any time but has to be opened alone.
The trader must inform the market analyst by sending an email with the title “Deposit Risk-Free” and a deal number so the analyst can mark the trade. The email has to be sent within a reasonable time frame since opening the position. Trades copied on CopyKat/Sirix/Webtrader do not qualify for the risk-free trade offer.
CMTrading Demo Account
CMTrading demo is a part of the Metatrader4 trading interface that is one of the platforms supported by this broker. The demo account can be accessed upon registration. Traders can use CMTrading demo account to learn more about the platform and tools it offers. More experience users can test their strategies. CMTrading demo account is the perfect way to learn how trading with this broker looks like while trading only virtual money.
CMTrading offers several trading platforms.
Metatrader 4 is one of the most popular online trading platforms for forex and CFDs brokers. Traders can use a simple and user-friendly interface to trade with quotes in real-time. They can also use one-click executions, limit orders, or do analysis with different charts, graphics, tools, and indicators.
MetaTrader 4 can be used as a web trading, desktop trading or mobile trading. It all depends on which platform type you are planning to use. Web-based trading is more convenient for beginners, while desktop trading is preferred among more experienced traders. This platform offers a version for iOS products, Androids, Windows, Linux, Safari, Mozilla, Chrome and Internet Explorer.
Sirix is another popular platform that is web-based. For this reason, it is a preferred choice for traders who want to trade from multiple devices, and not only from their personal computers at home. Sirix offers:
- 24/7 user updates
- Backup options
- Secure interface
- 24/7 software availability
- Encrypted services
- Management of multiple accounts
- Hassle-free transactions
- Real-time online trading tips
Forecasts, graphical representations and more
Sirix also offers special trading called CMTrading CopyKat.
CMTrading CopyKat opens the world of copy trading, just for you. This feature gives traders a chance to study and copy successful traders. Traders can choose to copy every trade manually, or use an automated version. The broker claims how CopyKat will definitely shorten the learning time necessary to understand the trading process. Great news is that there are no additional downloads or add-ons necessary. All it takes are a few simple steps:
- Open a trading account
- Use Sirix web platform
- Find successful traders
- Watch successful traders and copy their trades
CMTrading offers a great selection of assets. Traders from South Africa can trade popular FX pairs and CFDs. There are also four cryptos – Bitcoin, Ethereum, Litecoin, and Ripple, as well as 17 indices, 12 commodities, and plentiful of currency pairs. The typical spread for EURUSD pair is 1.5. Leverage is 1:200.
CMTrading Customer Support
CMTrading customer support is very interesting. First, traders can use a WhatsApp app (+27 65 668 5854) to contact customer support agents. This is very convenient for younger traders who are using this popular chat app anyway. Older traders might find it rather difficult or unusual. We have to admit how WhatsApp instead of a live chat seems like a very interesting choice.
Luckily, traders can also write an email ([email protected]), or make a phone call (+27 10 500 80 26, local number for South Africa).
CMTrading also offers educational materials. This broker gives you access to trading videos, e-books, webinars, video chart analysis, and chart analysis. Of course, traders are the ones who must make an effort into the research of all the materials available, as some will find it easier to learn from webinars, while others will prefer videos and e-books.
CMTrading Deposit and Withdrawal
CMTrading minimum deposit is $250. The minimum trade size is 0.01 lot. The minimum withdrawal is $20. There are several banking methods available: bank wire, credit cards, Neteller, CashU and FasaPay. All accounts have to be verified before making a withdrawal request. This means you will have to send certain documents to the broker, so they can be sure money goes to the right hands.
Also, this broker may charge some fees for dormant accounts. Dormant accounts are considered to be the ones where the position hasn’t been opened in the past 30 days.
CMTrading Bonus and Promotions
CMTrading also has clear rules on bonuses or special occasional promotions. They ask traders to make sure to understand specific terms and conditions related to a certain bonus or promotional campaign. General rule is that every $1 added as a bonus must meet $10,000 turnover in order for the bonus to be withdrawn.
This broker is owned and operated by Blackstone Marketing Proprietary Limited. IT is regulated by the South African FSP, No. 38782.