CM Trading Review
CM Trading is a South African online broker that allows traders all over the world to trade a wide selection of Forex and CFD products on popular and easy-to-use trading platforms. CM Trading places a high value on providing traders with instructional materials and extensive daily market research to aid in their trading performance. They provide a good assortment of trading platforms and flexible accounts. Demo accounts and Islamic accounts are available at CM Trading.
CM Trading is a South African-based retail forex and CFD broker. The broker was established in 2012 under the banner of GCMT GROUP LTD. They are authorised and regulated by FSCA in South Africa and FSA in Seychelles. The broker provides multiple trading platforms to facilitate your trading activities including the user-friendly MT4 platform and the proprietary CM Trading WebTrader.
CM Trading has a reasonable selection of 170 tradeable assets, including forex, commodities, indices, stocks, and cryptocurrencies. The broker offers commission-free trading with spreads categorised in four account tiers, including ECN accounts. In addition, the broker provides multiple account types, including Islamic accounts and free demo trading accounts.
Educational resources and research tools are core values of CM Trading. The broker offers a plethora of useful educational content and powerful trading tools, including guides, webinars, Trading Central, analysis, signals, and educational videos.
CM Trading is a regulated broker that has been providing financial services for over a decade. The broker keeps its clients’ funds in segregated bank accounts. They offer a decent range of 170 trading instruments with user-friendly trading platforms and apps. In addition, the broker offers multiple account types, including demo accounts and Islamic accounts for Muslim traders. CM Trading offers commission-free trading with tight spreads and ECN executions. Various educational and research resources are there to help traders, including Trading Central, trade ideas, financial & technical analysis, e-books, videos, tutorials, webinars & seminars, economic calendar, and trading calculators. While providing multiple payment options, the broker does not charge a deposit fee. In addition, CM Trading offers crypto trading and funding. Moreover, a copy trading service is available via CopyKat.
On the other hand, CM Trading does not accept clients from the US. The company is not traded on any stock exchange. Therefore, the financial information is not disclosed in public. CM Trading or its parent company does not have a banking licence either. There are no zero spread and fixed spread accounts available at CM Trading so they may not be the ideal choice for scalpers. In addition, CM Trading charges a withdrawal fee and an inactivity fee. There is also no negative balance protection provided to the clients.
CM Trading has a decent selection of 170 tradeable assets from various asset classes. The broker offers around 50 forex pairs, 15 commodities, 68 stocks, 17 indices, and 23 cryptocurrencies. However, this product portfolio might seem limited for professional traders as other popular asset classes are not available, including options, bonds, and ETFs. If you are looking for those and a lot more, then you might want to consider IG instead as they have over 18,000 financial instruments.
CM Trading Instruments Summary
| Instruments | CM Trading |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
CM Trading provides 4 account options for its clients that require different minimum deposits and have different features. The broker offers commission-free trading as the whole trading cost is incorporated within the spreads. This means the spreads are not the lowest but you have to consider that you will not be paying a commission fee. Therefore, the overall difference in trading costs may not be that significant unless trading large volumes and scalping. You can choose the account that works best for your trading strategy. Unfortunately, they do not provide accounts with zero pip spreads for scalpers. If that is something you require, then IC Markets have raw spreads from just 0.0 pips but do charge a commission free on top. Here is a summary of spreads and commissions with respect to accounts.
| Fee | Bronze | Silver | Gold-ECN | Premium-ECN |
|---|---|---|---|---|
| Commission (per standard lot per side) | $0 | $0 | $0 | $0 |
| Spreads from | 1.7 | 1.2 | 0.9 | 0.9 |
Deposit and Withdrawal Fees
CM Trading does not charge a deposit fee for using any payment method except crypto funding. There is a 4% deposit fee while using the crypto funding option.
There are certain withdrawal fees for using different payment methods. CM Trading applies a 2% withdrawal fee for using wire transfers, debit/credit cards, and e-wallets and 4% for crypto funding.
Inactivity Fees
There is an inactivity fee of $15 charged from the accounts that do not conduct any trading activity for consecutive 3 months. If you plan on taking a break from trading and would rather avoid any inactivity fees, you could take a look at Pepperstone as an alternative option.
CM Trading offers a variety of effective trading platforms to accommodate traders of all skill levels and different trading strategies. The broker provides a proprietary platform in CM Trading WebTrader with a user-friendly interface and advanced features. MetaTrader 4 (MT4) is accessible for desktop (Windows & Mac), online (web browsers), and mobile (iOS & Android). They also provide their own CopyKat signal copying software and the Sirix WebTrader social trading platform.
MetaTrader 4 (MT4)
MetaTrader 4, usually known as MT4, is a widely used computer platform developed for retail foreign currency trading. MetaQuotes Software Corp, a trading software business that presently licences the software to over 500 banks and brokers worldwide, developed the platform. MT4 was created in 2005 and is immensely popular among forex traders, owing to its user-friendly features and abundance of built-in trading tools. You can use the platform for all of your manual and automated trading needs. It enables users to construct their own trading scripts as well as trading robots – often known as expert advisors. MetaTrader 4 is a must-have tool for most investors and online traders, whether they trade forex or CFDs (Contract for Differences).
MT4 is widely recognised as the most popular online trading platform for acquiring access to the worldwide market, as well as a highly efficient platform for retail foreign exchange trading. This is due to the fact that it was designed specifically for independent internet dealers. An electronic or online trading platform is a piece of software that allows users to make various trading orders for a variety of financial products across a network with brokerage firms or financial institutions that act as financial intermediaries. By completing trades, these financial institutions promote online trades between sellers and purchasers. With MT4, an online investor may trade on current/live market prices that are aired on various trading platforms, and they can maximise their profit potential by using the extra trading tools that are available. These platforms include capabilities such as live news feeds, trading account management, and charting packages that include trading robots.
Online investors may simply watch global markets from anywhere, at any time, place orders instantly, and manage their accounts while away from their PCs using MT4 mobile trading. Furthermore, mobile trading provides a wide range of analytical options, including the presentation of graphical quotations for optimal account management. Because MetaTrader 4’s mobile trading choices are the same for tablets and smartphones as they are for PCs, an online investor may undertake trading activities at a similar speed and with the same trading instruments to get the best possible outcomes.
CM Trading WebTrader
CM Trading Webtrader is a simple web-based platform allowing traders to execute orders from cell phones, laptops, and tablets without the need to download or install any software. With Webtrader, a single click exposes you to a wide range of currencies and marketplaces. It works with both Mac OS and Windows. I like how you can access it directly in your web browser without needing to download or install any software.
To be a good trader, you must be able to utilise an online trading platform that is easy to use and receives regular updates. The CM Trading Webtrader is a high-quality and dependable trading platform. CM Trading Webtrader offers everything, from precise currency conversions to a high degree of security. As a result, the platform has become a popular option among clients of CM Trading.
I personally prefer MT4 simply because it is the platform that I am most used to and it can do everything that I need it to and much more. You will also find MT4 is available through most forex brokers which can make a switch over at a later date less hassle.
There are several reasons why this platform can be a good option; here are a few:
- User updates are available 24 hours a day, seven days
- An interface that is secure
- Software is available 24 hours a day, seven days a
- Services that are encrypted
- Multiple account management
- No-hassle order executions
- Online trading recommendations in real-time
- Forecasts, graphical representations, and other features
CopyKat Trading
Whether you’re a novice or a seasoned trader, CM Trading’s CopyKat allows you to watch, study, and replicate the complicated techniques employed by great traders. Even if you are new to trading, you will be able to trade like the pros with a single click. Whilst this can be a good solution for those of you who do not have the time or knowledge to trade by yourself, it is important to remember that there can be no guarantee on results. Past performance is by no means any indication of what will happen in the future.
Here are some of the highlights of CopyKat:
- Follow expert traders and determine whether you wish to emulate them
- The identical deals are executed in your account each time they trade
- Furthermore, you may trade automatically
- Mobile, desktop, and APP versions are all available
Daily Trading Signals
A trading signal is a recommendation or tip from an expert on a certain financial asset that must be implemented at a specific price and time. Trading signals can assist you to improve your trading activities regardless of your degree of trading expertise or experience.
You will receive frequent notifications informing you of potential trades such as currency pairings, commodities, or stocks, along with stop loss and profit target information. I would prefer to confirm each signal with my own analysis before acting upon them.
Trading signals are only valuable for a limited period; if they are not acted on in a timely manner, they lose their value. Clients of CM Trading may utilise the daily free trading signals to utilise in a range of tradable markets.
CM Trading Platforms Summary
| Platform | CM Trading |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | x |
| cTrader | x |
| Proprietary | ✓ |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other | ✓ |
CM Trading offers a plethora of free training videos, technical analysis lessons, webinars, and eBooks. The training content is extensive and ideal for traders of all levels of expertise, with themes ranging from the most fundamental to the most complex.
Daily Market Reviews
With the daily market news updates, you can discover the greatest moves and trends in the worldwide markets and construct your trading strategy. You can navigate the markets with the help of knowledgeable experts. You can watch daily video updates from CM Trading’s experts here, where they explain global price changes and walk you through the day’s most important market happenings. This is nice fresh content which can keep you informed with what is happening around the global markets in an easy to digest way.
Economic Calendar
The Economic Calendar provided by CM Trading includes key events that can have an impact on financial markets. Skilled traders monitor these occurrences and organise their trades around them. You will be able to keep track of market volatility, monetary policy pronouncements, and economic data as they occur. I think this is a vital tool that I always like to check before making any decision to make sure that I do not get caught on the wrong side of a major news release.
Calculators
The broker has some handy trading calculators which can quickly perform complex calculations for you. This might be useful if you need to plan your trades in a hurry or if you are not that well versed in maths.
Analysis
Fundamental analysis is the study of economic news events in Forex trading. Forex traders regularly monitor economic statistics since changes in an economy’s health may impact currency pricing. As a general rule, countries with robust economies will see greater demand for their currency as firms and individuals boost their investment.
As a result, if a major news event reveals that economic growth was stronger than projected, Forex traders may rush to buy that currency in the hopes that the positive statistics would lead to increased demand for that currency in the future. If the outcomes fall short of expectations, the opposite can be true.
Traders in financial markets utilise Technical Analysis to determine supply and demand. Technical analysis is the use of mathematical algorithms to examine overall price fluctuations. Traders would typically employ technical analysis to determine if a stock or currency is cheap, overpriced, or if momentum is building, which might result in a sudden move in prices.
It is great to see that the broker provides you with some professional market analysis that can not only be a great way to get inspiration for possible trading opportunities, but it is also a great way to learn the different principles of market analysis for you to implement within your own strategies.
Videos
CM Trading also offers a variety of extensive training videos divided into two categories: introductory courses and in-depth courses. These well-explained videos include a wealth of trading expertise. Trading platforms, trading tools, and social trading are all topics covered. The technical video analysis is similar to the chart analysis in that the information is shown and discussed in a simple yet informative video.
Seminars & Live Webinars
CM Trading is offering a chance for anybody to learn from the pros with online webinars so that you may build your knowledge and increase your confidence to help you achieve your trading objectives. CM Trading’s professionals will walk you through every facet of the financial markets which is something that not many brokers offer so it does help them stand apart from the competition.
E-books
CM Trading’s comprehensive eBooks assist traders in understanding some of the main trading ideas while expanding their trading knowledge and skills. An introduction to financial markets, strategy, psychology, money management, technical analysis, and other topics are discussed.
Trading Central
Trading Central is a leader in financial technology innovation and has provided CM Trading with a research and analytics solutions package. Trading Central’s strong AI and skilled analysts can obtain premium research, award-winning analytics, and timely insights 24 hours a day, seven days a week, to help you supercharge your trading strategies. Trading Central’s experienced experts will provide the latest trading opportunities, news, and market-moving events to your email twice a day. Trading Central’s award-winning techniques and powerful pattern identification enable you to research many assets effectively.
I think this is a superb tool for market analysis. It gives you a convenient way to automatically search your favourite instruments for trading signals according to your own customised preferences. This can literally save you from hours of chart watching. I would always look for a broker that has Trading Central, with Libertex being another option worth consideration.
CM Trading Research and Education Summary
| Resources | CM Trading |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | ✓ |
| Autochartist | x |
| Trading Central | ✓ |
| Economic Calendar | ✓ |
| Other | ✓ |
CM Trading excels in this area as they provide various convenient payment options, including wire transfers, debit/credit cards, e-wallets and crypto funding. Transactions may be processed from instantly to 3-5 business days. You can choose the method that works best for you. I prefer e-wallet funding as I find this to be the quickest and easiest way to get access to my funds.
CM Trading Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | ✓ | ✓ |
GCMT GROUP LTD is regulated in different jurisdictions. CM Trading has the following licences:
- GCMT SOUTH AFRICA PTY LTD: The Financial Sector Conduct Authority (FSCA) of South Africa
- GCMT Limited: The Financial Services Authority (FSA) of Seychelles
CM Trading Regulation Summary
| Regulator | CM Trading |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other (FSCA, FSA) | ✓ |
CM Trading Safety
They keep client monies in separate accounts to guarantee that they are only utilised for client trading. Clients must have access to funds at all times so that they may withdraw them whenever they choose. While CM Trading allows clients from all around the world, some countries are excluded owing to legislation, including the United States. If you are located in the USA, then Oanda could be an alternative option worth taking a closer look at.
CM Trading provides clients support 24/5 via online chat, phone and email. Considering the presence of crypto trading, I think they could improve by offering 24/7 customer support just like Fortrade do.
Overall, CM Trading is a fairly trustworthy broker regulated by the Financial Sector Conduct Authority, where customer assets are kept in segregated accounts. There are four main account types, each with its own set of perks and minimal deposit requirements. They have user-friendly platforms and powerful tools for all types of trading strategy. With CM Trading, you may trade manually, run automated systems and copy other traders. The broker does not charge any deposit fees or trading commissions. However, there are withdrawal fees and inactivity fees. There is a plethora of very good educational resources for beginners and frequent market analysis to keep you informed with what is going on around the global markets. You can always rely on 24/5 customer support if you run into a problem.
Despite the many positives, I found the available financial instruments to be distinctly lacking compared to competitors such as Markets.com. They also do not provide the MT5 platform and support is not active on the weekend. They also do not have the lowest spreads you will find. If you are just looking to trade forex and not concerned with zero pip spreads, then I think they can be a good choice of broker. However, you may want to shop around if you are interested in trading other markets.
