CLM Forex Review, Rating and Comparison

CLM Forex Review, Rating and Comparison

Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage  Typical Spreads 
Standard  $250 0.01 1:500 1.3 pips on EUR/USD
Pro  $10 000 0.1  1:400 0.3 pips on EUR/USD + $3.5 per standard lot (per side)

 

Core Liquidity Markets offers its clients a choice of two live account types: a Standard commission-free one, and Pro account which provides tighter spreads, but also involves a commission.


Micro lots are available for trade on the Standard account and, of course, the broker also provides free Demo accounts, which are always appreciated by inexperienced traders.


The Company. Security of Funds


Core Liquidity Markets (CLM) is an Australian forex and binary options brokerage brand. The company behind the brand is Core Liquidity Markets Pty Ltd. (registered in Australia), a Corporate Authorized Representative of GO Markets Pty Ltd., regulated by the Australian Securities and Investment Commission (ASIC).


ASIC requires licensed companies to meet certain requirements and to comply with various rules. Clients’ money is to be kept in segregated trust accounts. According to CLM’s website. client funds are held at Commonwealth Bank of Australia (CBA) where they have multiple client accounts in various currencies, segregated from business operating funds.


As for the minimum capital requirement, forex brokers must hold at least $ 1 million in order to operate legitimately. In comparison, UK’s FCA requires forex brokers to possess at least 730 000 EUR and Cyprus’ CySEC – 1 000 000 EUR.


Unlike other European brokers (Cyprus and UK-based ones), however, Australian ones are not covered by any compensation scheme. Despite the ASIC regulation and supervision of Australian brokers, one should be aware of the risks of trading Margin FX and CFDs. Returns and gains are not guaranteed. ASIC, the Australian Government nor any other person guarantees any funds in your account.


Trading Conditions


Minimum Initial Deposit

Traders are required to deposit $250 in order to open an account with Core Liquidity Markets, which is an average initial amount. In comparison, Plus500 requires $100 and XM (holding, among others, also an ASIC license) demands just $1 from its clients as a start.


Average Spreads & Commissions
CLM offers variable spreads, the average ones on its commission-free account amounting to 1.3 pips on EUR/USD, which is standard for the forex market. Pro accounts, on the other hand, provide tighter spreads averaging to 0.3 pips on EUR/USD, but also involving commission of $3.5 per standard lot per side. Accordingly, the trading costs of such account holders amount to around 1,0 pips, commission included, which is a comparatively low amount.


In comparison, forex.com (holding, among others, also an ASIC license) offers variable spreads starting from 1.0 pips on EUR/USD on its commission-free accounts. For further information, you may look up real-time spreads of 15 leading brokers here.


Maximum Leverage
Clients of Core Liquidity Markets use leverage ratios up to 1:500, which is considered high. Some jurisdictions cap leverage to significantly lower ratios than this (i.e. 1:50 in the US), because higher leverage involves higher risk of losses in excess of initial investments.


Most brokers usually offer leverage of up to 1:200 or 1:400, for instance global broker FXCM, also holding an ASIC license, provides leverage up to 1:400, and Plus500 – up to 1:200. However, many brokers provide leverage ratios equal to or exceeding 1:500.


Trading Platforms


This broker offers its clients various trading platforms and solutions: MetaTrader 4, FXLite WebTrader, Social Trader and MYFX.


FXLite Web Trader is a web-based trading platform that supports all modern browsers and syncs with your MT4 account in real time. It has fully customizable charting package with technical indicators, Money Management tools and allows for Forex, Binary Options, Metals & CFDs trading.

 

FXLite Web Trader 

 

Like most FX brokers, CLM supports the most widely used forex platform MetaTrader 4 (MT4). It comes in as desktop and mobile versions. The interesting feature here is that binaries are available for trade on the MT4 via installing a special plugin.


MT4 provides all the tools and resources a trader needs: a number of technical indicators, advanced charting package, a wide range of Expert Advisers (EAs) and extensive back-testing environment for them. By using EAs traders may sit back, while the software does all the work, as Expert Advisers allow full automatization of trades.


If you are running EAs, it is vital that your platform is connected to our servers 24 hours a day. The best solution in this case is VPS (Virtual Private Server) hosting and Core Liquidity Markets provides such solution for their clients for $42.80 per month. This service is provided for free to high-volume traders (trading over 50 lots round turn and maintaining an account balance of $5,000 USD).


The location of CLM’s trade servers in the EFX1 suite in Equinix LD4 and in Equinix NY4 data centers ensures that their client's data is in a safe location within the two premier global liquidity hubs for Financial Institutions.


What is more, CLM provides MAM/PAMM options: The Multi-Account Trader application is embedded within the MT4 terminal, but It can also be accessed through FXLite Web Trader. The MAM/PAMM offered are customizable and user friendly.


In addition, this broker provides MYFX Trading Console, advertised as a trading platform on CLM’s website. In fact, this is a trading tool application available for FX traders using MT4. MYFX provides access to a variety of trading tools and is available on a subscription basis for $249 per year, or free for account holders with at least $2,500 USD balance.


Last but not least, CLM’s clients specializing in algo trading may use the Signal Trader. It is a automated trading solution across a full range of financial instruments, enabling broker’s clients to fully automate their trading by mirroring the trades of professional traders. The systems’ trades are executed in real trading accounts, with real money and displayed live on Signal Trader's website.


Methods of Payment


CLM offers its clients a variety of deposit/withdrawal methods: via credit/debit card (Visa, MasterCard), bank wire, Neteller, Skrill, WebMoney, and China UnionPay.


Clients may use the following currencies to fund their accounts: AUD, USD, GBP, and EUR.


Conclusion


Core Liquidity Markets Is a reliable broker, offering competitive conditions for trading in currency pairs, CFDs, precious metals and binary options. To sum things up, here are the advantages and drawbacks with regards to CLM:

 

Pros Cons
ASIC-regulated No Islamic accounts
Various platforms and trading solutions  
MT4 available  
High leverage levels  

 

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Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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