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Headquarters: Empire State Building, 350 Fifth Avenue, Suite 6400, New York, NY 10118
Country: United States
Regulated by: CFTC, NFA
2.2
3.2
CMS Forex account Info:
minimum deposit: $250
minimum lot size: 1k
max leverage: 50:1
Spread:
Variable, from 0.9 pips
Dealing:
Deposit/Withdraw
Bank Wire, Credit card, PayPal, Check
Platform:
Custom platform, Web platform
CMS is listed as White Label partner on the Currenex website
Fixed spreads EUR/USD - 2 | GBP/USD - 4 | USD/CHF - 5 | USD/JPY - 2
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Pros |
Cons |
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Low Spread Fixed Spread during all market conditions, even during news releases |
No
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Pros |
Cons |
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No slippage during normal market conditions
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Slippage during news releases Conditional orders at least 35 pips away from the market before news releases |
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Pros |
Cons |
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Trader's range feature - trader is able to define max market order slippage |
Frequent requotes |
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Pros |
Cons |
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N/A
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Some Spikes CMS do not fill limit orders on spikes |
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Pros |
Cons |
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Customizable Interface Trade from charts 100+ indicators Custom Indicators Autotrading |
Frequent disconnects
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Deposit |
Withdraw |
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Electronic Funds Transfer (U.S. clients only) Check PayPal Wire Transfer Online Check Credit card |
Bank Wire Check BPS
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Pros |
Cons |
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Customer Service reps are always ready to help Phone Live Chat |
Opening account may takes longer Не преразглеждат сделки
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Pros |
Cons |
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Low Fixed Spreads Auto-trading Regulated
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Platform freezes frequently Frequent requotes 3 clicks to open/edit position Conditional orders at least 35 pips away from the market before news Poor price feed |
Add reviewFor this broker the spread they offer is irrelevant. They may as well offer zero or even negative spreads. It works like this. You place an order. Within a few seconds you get confirmation that your order (say buy EUR at 1.5875) was received. Now make yourself comfortable because what follows may take 30-60 seconds. If in that time the price moves with you even by one pip (say to 1.5876) then you get a requote at some crazy prize sometimes few pips higher than the max for the period. But if the price moves against you (say to 1.5870) then 30-60 seconds later you get a confirmation of an opened position which by then is 5+spread pips in the red. And now your nightmare is just starting. The market keeps moving against you and at 1.5860 you want out. You send a close position request, get confirmation within 1-2 seconds and then . you guessed it, you wait 30-60 seconds.
I've put 3 long years into CMS's VT trading system software. The best charting and trading system creation software around( auto trade coded systems). Made good money at first and then the quick trade execution was replaced with constant requotes or no execution at all(Weird and unexplainable problems start occuring with trades when system is trading live accounts). I run the software 5 days straight week after week- no problems occur with software until real trades are entered.If you like to trade on less than 10 minute time frame- forget it - slow execution and requotes will burn you. I am very hesitant at this point to continue trading my live account with them. Customer service is non-exsistant, however VT Systems software support is extraordinary....wish I could use software(VT trader) with different broker. Don't trust these guys any longer. I agree with most of the negative opinions shared by other CMS clients.
Recently they shortened their margin requirements to 1%. This has been a surprise and can be a bit limiting.....
Also their fixed spreads have become unfixed for most pairs. I read this as an attempt to persuade us to trade Euro or Yen against the Dollar.
Definitely looking around now.....
It would seem that most of the folk on this site are blaming their losses on CMS, instead of possibly looking at their own lack of trading ability and skill. You are getting the best free charting software available anywhere, and although CMS may have had teething problems in the beginning with servers going down etc., they really seem to have improved their client service tremendously. I have used them for 7 years now and wouldn't change.
I joined that company few months ago , their customer service is good , but their trading system VT Trader connection drop every 3 minutes , They recently published MetaTrader4 but its used margin is high in compared with other company , so they need developing their system .
These people are bucket brokers. I entered my trade (20 lots) 45 mins before the news release. They didn't accept it, so after 3 mins, I called and they said, it would go through. After another 3 mins, I called again. They said it would go through. After calling several times, and getting the same assurance, I just waited. Finally the new releases came out with my trade still showing on their platform but not accepted. The market went in my direction and I would have made a great profit. When I called them to make the correction to my account, they refused. THIS IS ONLY ONE EVENT. I could go on and on. They are liars and thieves. BEWARE!! BEWARE!! BEWARE!!
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