Established in 2013, CMSTrader is an award winning, investment advisor and online Forex broker with headquarters in the UK. CMSTrader offers clients some of the tightest spreads in the industry on a secure, web-based Forex trading platform. Clients are given access to the SIRIX web and mobile platforms, designed for easy trading, without software download or user manuals. CMSTrader is operated by Safe Side Trading Ltd.
Account Features
Four main account types are offered by CMSTrader on the web based trading system. These are the Mini, Silver, Gold and Islamic accounts. The Mini account requires a deposit of $500. The Silver account requires a minimum deposit of $10,000 and the premium Gold account is available to traders depositing at least $50,000. The Islamic account is for traders holding Islamic beliefs and conforms to Sharia law. Good to mention what sets them apart -> account manager, leverage, spreads, fast withdrawals….use wording from their specs
- Opening a Mini account gives you immediate access to the Sirix Webtrader platform where you can trade more than 120 currency pairs. Whilst the $500 minimum deposit is higher than the average deposit required to open mini accounts at most online brokers, you get a lot for your money at CMSTrader.
As a Mini account holder, you have access to expert analysis and trading tips, giving a sense of direction at the start of your trading career. Generalised online trading tutorials as well as personalised tutorials and customer support are available free of charge. A key advantage is that CMSTrader doesn’t take commissions on overnight positions or on deposits and withdrawals.
- With a Silver account, you have immediate access to the trading floor and to the opinions of a team of trading experts. Trading orders can be processed over the telephone in direct consultation with the sales team.
- A Gold account, gives direct access to the trading floor and specialised trading tutorials. Significantly, you are invited to discuss your investment objectives with experts at CMSTrader and a customised service is created for you. The sales team is always available on the phone to process orders and a panel of experts offers research assistance.
- The Islamic account has all the benefits offered to other trading accounts. The difference is that there is no interest on overnight positions, in accordance with Islamic banking laws.
Demo Account at CMSTrader
CMSTrader offers all visitors to the website, the opportunity of opening a Demo account, without depositing real money. We found this pleasing as Demo accounts are ideal for learning how to trade with virtual money and give traders the opportunity to learn about the SIRIX web and mobile platform without incurring financial risk. How much it lasts, how much does one get etc…
Trading Software & Assets
You can access financial markets on three types of trading platform at CMSTrader. The SIRIX Web Trader, the SIRIX Station and the SIRIX Mobile Trader. We discuss the web trader and mobile trader in this review, as the SIRIX Station is a much more sophisticated trading platform for advanced traders.
The SIRIX Web Trader platform claims to be the most innovative platform of the decade and is instantly accessible on desktop without any software download.
The SIRIX Web Trader has several exclusive features not seen on other Forex trading platforms and essentially, it’s very easy to use and monitor. Traders don’t need to waste time getting familiar with complex features, making the SIRIX platform suitable for novice Forex traders. You can actually describe it.
The SIRIX mobile trader offers traders the same services as the desktop version, but it’s optimised for smart mobile devices. CMSTrader mobile trading apps are available for Android and iOS mobile devices, from the Apple APP Store and the Google Play Store.
SIRIX Web Trader and Mobile Trader are easy to navigate and offer clients a broad range of trading tools suitable for inexperienced newcomers and traders with experience in Forex trading.
CMSTrader Products
The SIRIX Web Trader and Mobile Trader is designed for real time Forex trading as well as trading in CFDs, crypto-currencies, Saudi Stocks, commodities, stock indices and precious metals. The trading platform shows up-to-date buy and sell prices, simple graphics, easy to use trading tools and clearly explained trading strategies.
What’s more, you can seamlessly adjust the size of your trading lots and place orders with just one click. Significantly, CMSTrader offers its clients the opportunity to trade with leverage through ‘Margin Trading’.
This allows traders to take a larger position in the Forex markets and possibly earn a much higher return on investment. Margin trading is explained in detail on the CMSTrader website and should be read carefully as financial risk is involved.
Free Trading Signals
CMSTrader offers free Forex trading recommendations to clients through easy to use trading signals. The recommendations are totally automated so there are no human emotions involved and are reputed to have a high success rate. Signals are sent directly to traders’ accounts recommending trading actions at certain points. The most important trading signals offered on CMSTrader trading platform include:
- Recommendations about buying and selling levels, for currency pairs.
- Signals related to the level at which orders must be given, to stop losses in Forex trading.
- Recommendations about the best trading positions for making profits.
- Suggested levels to start trading on the Forex platform.
CMSTrader Fixed and Variable Spreads
We found the minimum fixed and variable spreads starting at 2 pips for Mini and Silver accounts quite high at CMSTrader. However, Gold account holders enjoy lower minimum spreads starting from 1 pip.
Education at CMSTrader
We were impressed with the free educational package offered on the CMSTrader website. It’s certainly worth consulting the Education menu if you are a newbie to Forex trading, as the content covers all aspects of trading and can enhance your trading results substantially. Even professional traders can benefit from the advanced trading strategies offered in the educational program.
Clients are introduced to trading through video tutorials, Forex trading courses, ‘how to make money online’ and CMS Webinars. Technical analysis of Forex markets is clearly explained as well as Social Trading, where traders benefit from watching what other traders do, on the innovative CMSTrader Social Trading platform.
Support Information
CMSTrader offers 24/7 client support directly on the website through live chat, telephone, FAX and email in English, German, French and Arabic. However, the CMSTrader platform is offered in English, Arabic, Spanish, Italian, Russian and French languages.
Banking & Company Information
Clients can deposit and withdraw from their CMSTrader accounts using credit cards and wire transfers. Additionally, CMSTrader offers clients a CMS Trader pre-paid Mastercard to use as a further withdrawal option.
Our Verdict of CMSTrader
CMSTrader has an established reputation as a leading online Forex broker with multiple awards from financial portals and news channels. We found CMSTrader to be a transparent trading platform, investing heavily in platform security and committed to protecting client privacy. Significantly, clients are not faced with hidden fees whilst trading or with additional costs for cancelling an existing account. Subsequently, we can recommend CMSTrader to new and experienced traders seeking a reliable online trading platform with a sound financial base.