CM Trading Review

Richard Montana | May 16, 2022

CM Trading are a South African online broker providing you with access to trade a wide range of Forex and CFD instruments on powerful and user-friendly trading platforms. You can get quick and easy market access from your desktop, web browser and mobile devices. I found the broker to have very competitive trading conditions such as low spreads and cheap fees. If you are a beginner and new to trading online, you will find a good selection of useful educational materials. You can also open a free demo account to practice trading and build confidence. I like that they provide regular market analysis to inspire trade ideas and assist you with your daily trading activities. There are also a variety of account types for all your trading strategies and convenient funding options including digital wallets. If you don’t have the time or knowledge to trade by yourself, you could consider the CopyKat and Sirix social platforms available. However, the minimum deposit requirement of $250 is not the lowest I have come across and leverage is capped at 1:200.

Broker Pros / Cons
  • Good range of instruments across different markets
  • Easy to use platforms for desktop, web & mobile
  • Commission free accounts available
  • Good choice of account types & funding methods
  • Daily market analysis to help inspire trade ideas
  • Great variety of educational resources
  • Powerful trading tools for market analysis
  • CopyKat Trading
  • Social trading platforms
  • Hedging & scalping allowed
  • Free demo accounts
  • Islamic swap-free account options
  • Excellent customer support
  • Regulated brokerage
  • Does not accept clients from some countries such as the USA
  • Min $250 deposit not the lowest
  • No fixed spead accounts
  • No Autochartist or Trading Central
  • No managed accounts

Summary

CM Trading is an established broker that provides online trading services to clients around the globe with financial instruments across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. Whatever your interests, there is something for everyone to trade.

I like that they have a selection of industry leading trading platforms, including MetaTrader 4 (MT4) and Sirix. This makes sure you can access the markets and conduct your day to day trading activities with minimal fuss. There is a large range of quality trading tools for assisting with your market analysis and trade management. They cater to traders of all backgrounds with free educational material and global support available 24 hours day. I really appreciate that the same high standard of service and support is given to everyone, regardless of your investment size.

Using the latest technologies, they strive to make trading as simple and enjoyable as possible whilst continually innovating and improving their services to help you reach your financial goals. From my experience, I feel that they go above and beyond to ensure that this happens.

Regulation

Integrity and honesty are core values according to the broker, operating in a transparent manner with client safety and security being of paramount importance. I can trade in confidence knowing that they are regulated and therefore should operate in an honest manner.

CM Trading is the Brand name of Global Capital Markets Trading and BLACKSTONE Marketing SA(PTY)LTD (GCMT SA). CM Trading are regulated by the Financial Sector Conduct Authority (FSCA) and Financial Services Board (FSB) in South Africa. The FSCA is an independent institution that monitors financial services in South Africa to ensure consumer protection and market conduct.

Funds

In addition to these regulations, they hold client funds in segregated accounts to ensure they are not used for any other purpose, only for clients trading. Funds must be accessible at all times for clients to withdraw as and when they wish. They also incorporate SSL security systems to add further levels of protection.

Countries

Whilst they welcome clients from all over the world, there are some exclusions due to regulations including USA, some EU countries, Hong Kong, Israel and some third-world countries. If your country is on the list of those they cannot accept traders from, please feel free to have a look at our broker reviews for alternative options.

Platforms

The broker has a solid choice of powerful trading platforms suitable for different levels and needs of traders. The popular MetaTrader 4 (MT4) platform is available for desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). They also have their very own CopyKat platform for signal copying and the Sirix WebTrader social trading platform.

CM Trading Platforms

CM Trading Platforms

MetaTrader 4

MetaTrader 4 (MT4) is one of the most popular platforms when it comes to forex and CFD trading. MT4 was released in 2005 and developed by MetaQuotes Software Corp, a Russian software company who license the platform to over 500 banks and brokers worldwide. It allows retail traders like us to get convenient access to trade on real-time prices across a range of different financial instruments and markets.

The MT4 platform is widely known for its user-friendly interface, ease of use, quick learning curve and numerous built-in features including one click execution, multiple order types, real-time quotes, technical indicators, news and other tools. The CM Trading MT4 platform is free to use, including enhanced features and support.

I feel that MT4 is suitable for all levels of traders, it has basic functions for beginners and advanced technical analysis charting for the more experienced traders. It is fully customisable with the capability of using the vast range of built-in technical indicators for analysing charts on multiple timeframes to assist with trading decisions.

You can create your own custom indicators and automated trading systems (Expert Advisors) using the MQL4 programming language within MetaEditor. There is also a large online MQL4 community for accessing more trading tools to use within the platform.

I am an avid user of MT4, primarily due to its automated trading capabilities. I have used it for many years to develop, test and run expert advisors on many brokers. It is still my favourite platform for manual and automated trading. I have never felt the need to change, especially considering it is available through most trading brokers.

If you wish to trade on the go, the MT4 mobile platform is available for download on both Android and iOS. Using the mobile platform enables you to access and manage your account from anywhere in the world with an internet connection. I often find myself checking the app to see how my trades are doing and what is happening in the markets.

MetaTrader 4 (MT4) Platform

MetaTrader 4 (MT4) Platform

Sirix WebTrader

Sirix WebTrader is the online version of the popular Sirix platform. It was developed by Leverate and is an all in one social trading platform available in 18 languages. You can easily execute trades from your web browser without needing to install any software. I like that it runs in the browser as this means it can be accessed from any device and is always up to date.

The WebTrader supports pre-configuration for frequent trading functions such as lot size and order types, thus making trading more efficient. There are multiple built in indicators and charting options to choose from to help with market analysis. I really like how the integrated news feed and economic calendar enables you to keep up to date with the latest market news. This saves me from needing to checking an external economic calendar.

Sirix Webtrader

Sirix Webtrader

The social trading integration enables you to follow other traders in an active online community to increase your knowledge and copy other traders (CopyKat Trading). Just make sure that you are aware of the risks involved when copying other traders. I personally prefer to conduct my own market analysis before making a trade decision.

Sirix Social Trading App

Sirix Social Trading App

Other notable features include 24/7 user updates, backup options, encrypted services, multiple account management, forecasts, real-time trading tips and much more. WebTrader is available for Windows, Mac, Android and iOS.

CopyKat Trading

CopyKat Trading is accessed via the Sirix Webtrader platform and allows you to easily watch, study and copy strategies used by other traders. You can quickly search and filter strategies based on performance. If you want to copy trades from a particular strategy, you can at the click of a button and every time they trade, the same trades will automatically be placed on your account. It should be strongly noted that past performance is by no means any guarantee of future performance. You may add or remove from signals that you are copying at any time. I found there to be some decent looking strategies but I would probably only copy them onto a demo account to see how they perform moving forward.

Tools

I like how the broker has a good choice of trading tools that can be used to improve trading efficiency and generate trade ideas. I think this is another area in which they really excel and standout from some of their competitors. It emphasises the fact that they care about traders and them making informed decisions based on good education and detailed analysis. Of course, if you are already experienced, then you are free to trade as you please. It is just nice to see traders given so much choice.

Education & Tools

Education & Tools

Smart Communication System

The Smart Communication System is offered to clients free of charge and aims to help you get the best out of your trading by keeping you up to date with direct messages regarding signals, analysis and automated feedback on your trading activity.

Flexi Signals

The flexi signals area of the brokers website shares regularly updated chart analysis that can give ideas for potential trade opportunities. I found some interesting analysis that made me more aware of price action and possible market movement.

Flexi Signals

Flexi Signals

Daily Market Analysis

CM Trading provide a free daily market review video that covers a range of different markets and gives highlights of the day with detailed technical chart analysis. You can subscribe to their YouTube channel to keep up to date with the latest videos or get them directly from the website. If you want some more market analysis, Rockfort Markets are worth a look.

Daily Market Analysis

Daily Market Analysis

Economic Calendar

The economic calendar displays the latest financial news events that can affect the markets. Each news release has a date/time, rating in terms of the anticipated impact and forecasted/actual/previous results. This calendar can be very useful for conducting fundamental analysis to find potential trading opportunities or which markets to avoid. I am often checking the calendar to see what is happen across the markets which can help me make informed decisions.

CM Trading Economic Calendar

CM Trading Economic Calendar

Education

The broker has a wide variety of free training videos, technical analysis tutorials, webinars and eBooks. The educational material is vast and suitable for traders of all experience levels with topics covered from the very basic to more advanced subjects. They are certainly one of my top brokers when it comes to education, I would put them up there with FXTM in this aspect.

eBooks

You can browse through a plentiful range of insightful eBooks. I had a look through and believe that the materials will help beginners to understand some of the key trading concepts whilst those of you who already have some experience can further increased your trading knowledge and skills. Amongst the wide variety of topics covered include an introduction to the financial markets, strategies, psychology, money management and technical analysis.

Trading eBooks

Trading eBooks

Training Videos

In addition to eBooks, the broker also provides a good selection of detailed training videos that come in 2 separate sections, beginner courses and in-depth courses. There is plenty of trading knowledge to gain from these well explained videos. Subjects include trading platforms, trading tools and social trading.

Training Video Tutorials

Training Video Tutorials

Webinars

Although infrequent, the broker does conduct some free webinars from time to time that you can register for. The webinars include interesting discussions with other traders that I feel can help to further improve your trading knowledge. Past webinars are also available on the website which makes it convenient to follow up if you are not available at the date/time the webinar is on.

Chart Analysis

There is a dedicated chart analysis section of the website that shows real-time chart analysis including stop loss and take profit levels across different instruments. The trade buttons next to the chart will launch the Sirix WebTrader platform and open the relevant chart. This is a great feature as you not only get the market analysis but you can take action all from one intuitive interface. This is certainly a unique feature that I haven’t seen any other broker provide as of yet.

Chart Analysis

Chart Analysis

Video Analysis

The video analysis is similar to the chart analysis with the information displayed and explained in an easy to digest yet detailed video. This again further emphasises the sheer quantity of educational content that the broker provides. Whether you prefer to learn by reading, watching or listening, there is content for everyone.

Video Analysis

Video Analysis

Markets

CM Trading have an excellent range of trading instruments from various markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. I certainly didn’t find them to be short on choice. You will find everything from major currency pairs, to popular cryptos and stocks of major companies. If you like to diversify as much as possible, Swissquote also have a great selection of assets you can trade with favourable conditions.

Forex Trading

The foreign exchange (forex) market is the worlds largest decentralised global market where all the world’s currencies are traded. Forex trading is comprised of trading 2 combined currencies and is influenced by a variety of different factors including inflation, interest rates, government policy, employment figures and demand for imports and exports. The broker has an impressive 45+ major, minor and exotic currency pairs to forex traders.

Forex Trading

Forex Trading

CFD Trading

Contracts for Differences (CFDs) allow traders to speculate on if securities will rise or fall without needing to actually own them. There is a generous selection of over 200+ CFD products including currencies, metals, commodities and indices.

CFD Trading

CFD Trading

Commodities Trading

Commodities are often viewed as a way of diversifying a portfolio over the short and long term. Commodities play a role in everyone’s life and the broker has some of the most popular options for you to trade such as crude oil (WTI, Brent), natural gas, coffee, corn, sugar and wheat.

Commodities Trading

Commodities Trading

Metals Trading

Metals are classed as commodity assets that are mined from the earth and for hundreds of years have been used by governments as indicators of value and mediums of exchange. They have some of the most popular metals for trading such as gold, silver, platinum and copper.

Metals Trading

Metals Trading

Indices Trading

Indices allow you to trade a variety of assets from a specific segment that the index comprises of, in one transaction. You can trade on some of the world’s leading indices including Dow Jones, FTSE, DAX, JSE and more. Indices are often used as a way of further diversifying a portfolio.

Indices Trading

Indices Trading

Crypto Trading

Cryptocurrency is a decentralised virtual currency which uses complex mathematical algortihms to secure and verify transactions. They are one of a few brokers I have come across who have a great choice of popular Cryptos for trading such as Bitcoin, Litecoin, Ripple and Etherium.

Crypto Trading

Crypto Trading

Accounts

I really like how there is a good variety of account types to choose from depending on your needs. You can choose accounts with lower spreads and a commission fee or no commission fee and higher spreads. It really depends on your trading strategy and what matter the most to you. Generally speaking, the more you deposit the better conditions and more features you can gain access to.

There are floating spreads, which means that they are not always the same as they fluctuate with the market. At times, spreads can also widen when the market opens, or when there is a market event creating high volatility. I found the spreads to be very reasonable and on par with what I would expect from a broker.

The leverage is capped at 1:200 for those who qualify. If you need more leverage, then Traders Way go up to 1:1000. Just make sure you are aware of the risks involved when trading leveraged positions. The minimum deposit of $250 is not the lowest, TD365 for example have a $1 deposit requirement.

CM Trading Accounts

CM Trading Accounts

Mini Account

The mini account requires a minimum $250 deposit and has flexible leverage of up to 1:200. Mini accounts have access to daily/weekly analysis and eBooks. There is no commission charge on this account type. I would say this account could be a good place for beginners to start learning more about trading online and get some hands on experience.

Classic Account

The classic account requires a minimum $1,000 deposit and has flexible leverage of up to 1:200. The classic account has a regular spread. There is no commission charge on this account type.

Executive Account

The executive account requires a minimum $10,000 deposit and has flexible leverage of up to 1:200. Spreads are tighter on the executive account. There is no commission charge on this account type.

Premium Account

The premium account requires a minimum $25,000 deposit and has flexible leverage of up to 1:200. Spreads are more competitive on this account type whilst there are free trading strategies included. There is no commission charge on this account type. If you can afford it, this account has the best conditions in my opinion – especially if you are a scalper. If the minimum deposit is unattainable, XM Group have a similar account with a much lower deposit needed.

Demo Account

Demo accounts are available to test the different trading platforms and conditions before opening a real account. I always test a broker on a demo account at first to see how things go before making a commitment.

Islamic Account

There are also Islamic swap-free accounts that comply with Sharia law. It is great that they provide this account for Muslim traders who cannot pay interest due to their religious beliefs.

Support

Customer support is provided to you via online chat, email and various international telephone numbers. I found them to be prompt and efficient with their responses. The online chat option is most convenient as you can get an answer to your question right away.

CM Trading Support

CM Trading Support

Funding

There is a good variety of different deposit and withdrawal options including, bank wire, credit card and some online payment processors such as Neteller. Bitcoin funding is also available, something that you won’t find with many brokers. If you do want crypto funding, Hugo’s Way is another option to consider. I personally use digital wallets as I find this to be the quickest way to deposit funds which is important for me as I sometimes need to try and take advantage of a market move and don’t want to be waiting around for my funds to clear.

Deposit & Withdrawal Methods

Deposit & Withdrawal Methods

Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear. Accounts can be opened in USD, EUR, GBP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

Signup

There is a very short online form to for you to complete if you want to register for an account with CM Trading. Once you have completed the form you need to verify your email address and upload verification documents for KYC purposes. This will be a form of identification such as a passport and proof of address which can be a utility bill. After the accounts team have verified your documents and approved your account, you can then fund your account and commence trading. The whole process if quite straightforward and completely online.

CM Trading Registration Form

CM Trading Registration Form

FAQ

What is the CM Trading minimum deposit?

The CM Trading minimum deposit amount is $250. This is a very reasonable amount compared to some other brokers who require a minimum deposit of $500 or even more. It allows you to try out the broker’s products and services with a modest amount to determine if they are suitable for your needs.

How do I deposit money into CM Trading?

To deposit funds, log into your account through the secure client portal on the website and click on “make a deposit.” The broker offers the following payment methods: bank wire transfers, cash deposits, credit/debit cards, and some online payment processors, such Neteller, Skrill, M-Pesa, Online Naira, FasaPay, and more.

Bank wire transfers and cash deposits can take up to 2-3 business days; credit card payments are instant, while electronic payments may take up to one hour to be processed.

What are the CM Trading deposit fees?

The broker does not charge any fees for deposits.

How do I withdraw money from CM Trading?

To withdraw funds from your trading account, log onto your trading account on the CM Trading website and click “withdrawal.” Choose your account number, type in the sum of the withdrawal, and choose your withdrawal method. Once the withdrawal method is chosen, fill in the required fields and click on the “request a withdrawal” button at the bottom.

All withdrawal requests are processed within 2-3 business days. The minimum withdrawal amount is $20.

If you funded your account with a credit/debit card, the money would be refunded through that same card. If you funded your account via bank wire/EFT/cash deposit, funds would be sent back to your bank account. In the event of a third-party deposit, funds will be sent back to the third party, up to the amount deposited by the third party.

What are the CM Trading withdrawal fees?

CM Trading charges a fee of 2% fees on all withdrawals.

What is the CM Trading commission fee?

The broker does not charge any commission fee on trades.

Are there any CM Trading inactivity fees?

Inactive Accounts will be subject to a monthly charge of $15/ €15, depending on the account currency for the maintenance, administration, and compliance management of such inactive accounts. The inactivity fee will be charged from the third consecutive month of Inactivity and every successive inactive month.

What are the CM Trading account types?

The broker offers a choice of four live trading account options. The account types and their corresponding minimum deposit requirements are as follows: Bronze ($250), Silver ($1,000), Gold ($10,000), and Premium ($100,000) accounts.

Is there a CM Trading demo account?

Yes, a demo account is available at CM Trading to help clients acquaint themselves with the broker’s platforms before opening a live trading account. The demo account option is available on all the live trading account options.

What are the CM Trading spreads?

The difference between the Bid and Ask prices is referred to as the spread. CM Trading offers competitive spreads starting from 0.9 pips.

What is the CM Trading leverage?

CM Trading offers leverage of up to 1:400.

Leverage is a powerful tool that allows investors to trade with more money than the amount deposited in their trading account. Trading wisely with the leverage system can work in your favor and bring in high profits.

What is CM Trading margin & stop-out levels?

The CM Trading margin is the required equity that an investor must deposit to collateralize a position. In other words, a margin is an amount deposited by traders which enables them to participate in the Forex market. The margin at CM Trading is at 2%.

If your funds fall below margin requirements, the system will close some or all open positions. This prevents your accounts from falling into a negative balance which means you cannot lose more than your initial investment.

Do CM Trading allow hedging, scalping & expert advisors?

Several trading strategies, including hedging, scalping, and expert advisors, are allowed at CM Trading.

Is there a CM Trading Islamic account?

Yes, CM Trading does offer an Islamic account. It is suitable for traders who follow the Muslim faith. Islamic account does not incur any swap interest fees and therefore is fully compliant with Sharia law. The Islamic Account is often available upon request

What are the CM Trading instruments?

The broker offers various financial markets, including forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, and CFDs.

How do I open a CM Trading live account?

You can open a CM Trading live account by completing a short and secure application form on the CM Trading website, which is accessible by clicking the “Register” button at the top right corner of the broker’s website. Fill in the form properly and submit it.

How do I verify my CM Trading account?

To verify your account, you need to upload the following documents:

Proof of Identity: This can either be a government-issued Passport, Identity card/book, or driver’s license. Please provide front and back copies of this document clearly showing your full name, date of birth, issue and expiration date (if applicable), and your picture.

Proof of Residence: This can be any utility bill or bank statement. Please provide a document issued within the last 3 months and show your name, full residential address, and the issue date.

The broker can also accept an affidavit from the police station or a declaration of residence signed and stamped by your municipality. Please note that PO Boxes are not accepted.

What is the CM Trading platform?

CM Trading offers several trading platforms, including the MT4, Sirix WebTrader, and CopyKat trading platforms. The MT4 trading platform is a popular trading platform that is packed with top trading and technical analysis toolsets. The platform provides a wide variety of useful information, fully customizable and automated. The Sirix Web Trader is one of the most significant developments in the world of currency trading, offering the luxury of executing trades from cell phones, computers, and tablets without downloading or installing any software. The CopyKat allows you to watch, learn and copy the complex strategies used by successful traders.

Where can I download the CM Trading platform?

All platforms are available to download and use from your secure client area’s “Downloads” tab.

Where is CM Trading located?

CM Trading is located in Johannesburg, South Africa.

Is CM Trading regulated?

CM Trading is regulated by the Financial Sector Conduct Authority (FSCA) and Financial Services Board (FSB) in South Africa.

What countries do CM Trading accept?

CM Trading accepts clients from all over the world, except the USA, some EU countries, Hong Kong, Israel, and some third-world countries.

Is CM Trading a scam?

No, CM Trading is not a scam. They are properly registered and regulated by the Financial Sector Conduct Authority (FSCA) and have been offering online financial services since 2012.

How can I contact CM Trading support?

You can contact the CM Trading client support team via the following contact channels: online chat, telephone, and email.

Compare

Compare Broker (vs Our Top 3 Brokers)
Broker FeaturesAvaTradeIGIC Markets
Founded200619742007
RegulatedASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSAFCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFFASIC, CySEC, FSA, SCB
CountryAustralia, Ireland, South Africa, Japan, British Virgin IslandsAustralia, UK, USA, Switzerland, UAE, Singapore, JapanAustralia, Seychelles, Bahamas, Cyprus
Min. DepositMin $250 DepositMin $100 DepositMin $200 Deposit
CommissionFrom $0From $0From $0
SpreadsFixedVariableVariable
Leverage1:4001:2001:500
InstrumentsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFsForex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDsForex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs
PlatformsMetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, MobileMetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, MobileMetaTrader 4, MetaTrader 5, cTrader, Web, Mobile
TypeMarket Maker, STPSTP, ECN, DMAECN
FundingWire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, SkrillWire Transfer, Credit/Debit Cards, PayPalWire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli
Visit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit BrokerVisit Broker

Conclusion

Overall, I am extremely impressed with the trading products and services that CM Trading have. I like that they put great emphasis on providing you with powerful yet easy to use platforms along with plenty of trading tools for conducting in-depth market analysis. You can really setup the trading environment to be as simplistic or complex as you need it to be.

I feel that his broker can be a good choice for beginners due to the vast amount of educational materials they have. You also get detailed daily market analysis that can help inspire trading ideas and contribute towards your trading success. There are social trading platforms where you can copy signals and learn from other traders at the same time.

They have a good selection of flexible account types and convenient payment options to choose from. You will find plenty of trading assets from the most important markets, with tight spreads and low fees.

It would be great if they could lower the minimum deposit requirement, especially considering that the trading account with the best conditions requires a much larger deposit. Other than that, I wouldn’t hesitate using them for my day trading. They make me feel secure knowing that they are regulated and provide exceptional support.

CM Trading Logo

Min $250 Deposit

CM Trading are South Africa’s largest online broker providing traders across the globe access to trade a wide range of Forex & CFD instruments on popular trading platforms with a good selection of educational materials & regular market analysis.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.

Review Methodology

For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.

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