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CMS CMS Forex Review

CMS Forex Broker |CMS Forex review | CMSForex.com Forex Trading

RATING: 3.2 / 5 REVIEWS
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Traders` reviews for CMS

Spread

Fixed spreads EUR/USD - 2 | GBP/USD - 4 | USD/CHF - 5 | USD/JPY - 2

Pros

Cons

Low Spread

Fixed Spread during all market conditions, even during news releases 

No

 

 

Slippage

Pros

Cons

No slippage during normal market conditions

 

Slippage during news releases

Conditional orders at least 35 pips away from the market before news releases 

Requotes

Pros

Cons

Trader's range feature - trader is able to define max market order slippage 

Frequent requotes 

Price feed

Pros

Cons

 N/A

 

Some Spikes

CMS do not fill limit orders on spikes 

Platform

Pros

Cons

Customizable Interface

Trade from charts

100+ indicators

Custom Indicators

Autotrading 

Frequent disconnects

 

 

 

 

Deposit/Withdraw

Deposit

Withdraw

Electronic Funds Transfer (U.S. clients only)

Check

PayPal

Wire Transfer

Online Check

Credit card 

Bank Wire

Check

BPS

 

 

 

Customer service

Pros

Cons

Customer Service reps are always ready to help

Phone

Live Chat

E-mail 

Opening account may takes longer

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Summary

Pros

Cons

Low Fixed Spreads

Auto-trading

Regulated

 

 

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 

CMS is a bucket shop

The Dealing Desk is constantly trading against you. Forget about trying to trade in fast moving markets - a box pops up asking you to accept another price that is against you, often by a wide margin. Poor and sometime rather offensive support.

CMS Friend, Goforex.net 09/05/2009

VT Trader connection drop every 3 minutes

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 .

Magdy, Earnforex.com 09/05/2009

CMS servers went down in the beginning, not 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.

[email protected]exrealm.com 09/05/2009

CMS Forex: Constant requotes or no execution at all

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.

It takes up to 50 sec CMS to execute your order

For 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.

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