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CMTrading Review – is it scam or safe?

CMTrading Review  – Is www.cmtrading.com scam or safe forex broker?

RATING: 2 / 1 REVIEWS CMTrading
CMTrading is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Mini $250 0.01 lots 1:400  
Standard $1000 0.01 lots 1:200 2.6 pips
Executive $5000   1:200  
Gold $25 000   1:200  

 

CMTrading is a forex and CFD broker that offers four types of live trading accounts: Mini, Standard, Executive and Gold. The broker also provides the option for a swap-free Islamic account. There is also a free demo account with virtual $50 000 for test trading.



The Company. Security of Funds


 

Company  Country Regulation
Global Capital Markets Trading Limited Seychelles No

 

CMTrading is a brand of the Seychelles-based company Global Capital Markets Trading Limited. On its website the broker says its “clients are protected under the financial regulation of the Financial Services Board (FSB) South Africa as a juristic representative of FSP 38782 Blackstone Marketing SA (PTY) Ltd” and it keeps the client funds in segregated accounts.


Our check revealed that Blackstone is indeed regulated in South Africa, but we could not find any connection between the two companies besides the claims on the site of the broker, so for all intents and purposes, CMTrading should be considered unregulated. This means its clients are practically unprotected if the broker goes bankrupt and are left at its good will and integrity, which sometimes are completely lacking. We are not implying CMTrading is a scam, but advise you to be cautious.


If possible, choose a regulated broker, like the ones overseen by UK's FCA or the Australian Securities and Investment Commission.



Trading Platform


CMTrading offers to its clients several trading platforms. First and foremost it provides the eternally popular MetaTrader 4 for computers, in a web browser and mobile devices. Then there is the Sirix platform, developed by Leverate. CMTrading offers the Sirix web version, which can be used without having to install it, as well as the Sirix mobile application.


The broker also offers CM Trading Sirix CopyKat feature for social trading on Sirix.



Promotions


CMTrading offers two types of promotions. One is an up to 20% deposit bonus for deposits of $500 or more and the other one is a free Intercash international debit card.



Methods of payment


CMTrarding provides several methods of payment to its clients. The broker accepts payments through bank wire, credit/debit card and the electronic payment systems Neteller, CashU and FasaPay.



Conclusion


CMTrading is an offshore broker, but, judging by the number of posts and likes on its facebook page, it is quite popular among South African traders. It is explicable, considering that it operates as a representative of the locally-registered financial company Blackstone Marketing.


The broker's trading conditions are more or less in the average category and it seems it is a reliable company, as we could not find client complaints about significant problems.

 

Pros Cons
MT4 Unregulated
Islamic accounts  
Debit card  

 

 

Latest news about CMTrading
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Traders` reviews for CMTrading

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

My experience

I recommend CMTrading.

I loved their training videos and free signals. I addition, they provide great 20% trading bonus of my initial $800 deposit. The Master Card is world-wide usable which is great for traveling traders.

Also, I would like to say that their Support is very helpful and always answer in a polite manner. They are always there when you need them!

Withdrawals are processed ASAP!

Kyle Duncan 03/26/2017
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