CMTrading is a South Africa FSB regulated CFDs and forex broker that offers a plethora of trading opportunities through their many platforms and products. With this broker we liked the tailored approach to each trader which is experienced through their many types of accounts that will satisfy a trader with every level of experience – from beginner to expert. Along the regular trading platforms, we really liked their CopyCat product which enables clients to copy successful traders. Read more about all these features in our CMTrader review.
With CMTrading, traders who want to test the platform essentially go through the same process as traders who are ready to start right away. In order to get the demo account, the first step is to open a live account. After the registration is done, all that is needed is to add account and choose demo.
When registering for an account, you will be asked for which type of the account are you applying. In order to help traders with this decision, we are presenting CMTrader account types below. Please take a good look to see what is offered, and decide first which one is best for you.
CMTrading Mini Account
- $250 – $999 deposit
- 1:200 leverage
- basic spreads
- daily & weekly market review
- CMTrading e-book
CMTrading Standard Account
- $1000 – $4999 deposit
- Lower spreads
- Regular CMTrader debit card
- 1 risk free trade*
- Introduction to forex webinar
CMTrading Executive Account
- $5000 – $24999 deposit
- Even lower spreads
- VIP CMT Debit Card
- 2 risk free trades*
- Introduction + Technical and fundamental analysis webinar
CMTrading Gold Account
- From $25000
- Super low spreads
- Same day withdrawals
- 3 risk-free trades*
- two trading strategies
- full webinar cycle
CMTrading Islamic Account – is available for everyone who wants to join trading without fear they will violate any of the Islamic laws.
*Risk free trades need to be tagged in the comment sectionbefore placing the trade. Alternatively, customer support can help, but not if too much time has passed. It lasts for 24 hours and if the position is closed in that timeframe, loss will not be deducted from customer’s account, while any profit will be added to the trading account. It is limited to 0.1 lot of any currency trade.
Along the mentioned features, CMTrading also offers a Forex Signal tool. Signals are trading recommendations that traders can accept or decline. Benefits are in the fact that they are generated after analysis has been done and you don’t have to spend your own – all you need to do is agree if it sounds reasonable.
Another way to avoid analysis, especially for traders who do not feel confident yet is simply to copy what more experienced people are doing. For this CMTrading offers the CopyCat. After login into the Sirix platform, a popup appears that offers access to this social trading feature. All is needed is to click “Join” and voila! On the side, the most successful traders will be shown along with their stats, so it is visible which ones are doing better job trading than the others. Below is the social stream that shows individual trades being made. From there, the trades can be copied immediately.
If you follow a trader, you can mirror their trades – so every time they make a trade, same one will be done on your account.
The broker also offers bonuses, but make sure to understand terms & conditions before accepting a bonus, which can reach up to $1000. In order to withdraw a bonus, trader needs to attain a certain trading volume, otherwise the bonus will be revoked.
Trading Software & Assets
As we already mentioned in the introduction, one of CMTrading strengths is the fact they offer many platforms. Traders can choose between the standard MT4 platform which they download on their computers, webtrader, mobile MT4 apps, Sirix webtrader and mobile solution and the useful add-ons such as the CopyCat mirror trading and social trading system.
CMTrader MetaTrader4 platform
With MT4 platform traders can download the software for windows, however, for Mac users, there is no straightforward way to do this, but an installation of a Windows emulation environment is necessary. This can be a bit complicated for some users. MT4 mobile platforms are available through the respective Apple and Google mobile application marketplaces.
CMTrader Sirix platform
Sirix webtrader is a different kind of platform. It is popular because no downloads are necessary and it works amazingly from the web browser of any device. It is also very easy to use. Here, the mirror trading is built in so no further actions are required to start social trading.
CMTrader Underlying Assets
On the asset front, CMTrading offers a nice selection of assets underlying CFDs and currencies used as base for trading. Other than the indices, they offer commodities as well along with the standard set of currency pairs. Overall the selection of assets is not the best we have seen but should be enough unless you are experienced stock picker or avid currency hedger.
The support is available 24/5, mainly via the live chat which seems to us is the most easy to use option. There are, naturally, other methods, like email and a set of phone numbers for countries: South Africa, Canada, Malaysia, United Kingdom, China, France, Mexico, Brazil, Saudi Arabia, Bahrain and on a vintage note, there is a fax number if you are still using that.
The website itself is available in English, Arabic, Chinese, Malay and Spanish.
Banking & Company Information
CMTrading license is held by Blackstone Marketing PTY in South Africa, with the license number FSP 38782. In order to comply with regulations, customers need to verify their account by sending a set of documents, they can be uploaded through the my account control panel.
In order to deposit, traders can use several payment methods. These include
- Credit/Debit Cards
- Bank wire
The minimum deposit is $250. Account currencies available are EUR and USD.
Withdrawal requests are placed through the CMTrading website and processed in about 2-3 business days. The minimum withdrawal with CMTrading is $20.