CM TRADING REVIEW

CM TRADING REVIEW

You’ve decided that Forex Trading is for you, but now you are on the service provider sourcing stage. This CM Trading review is meant to equip you in making an informed decision about this forex broker. I have used CM Trading for almost a decade, therefore do rest assured that this is not just a generic review, but also an honest assessment of how the company works.

===========>Open a free CM Trading forex account here.,

 CM Trading review

Is CM Trading legit? – An honest CM Trading Review

Let’s get on with it and talk about the legal status of CM Trading.

This Forex Brokerage is a brand name of Global Capital Markets Trading Ltd. A company registered in Seychelles under registration no. 104785.

The clients’ funds are protected under the regulations of the Financial Sector Conduct Authority (FSCA), an industry watchdog for the financial services sector in South Africa. You can find the details of their registration here under FSP 38782. It is registered under Blackstone Marketing SA.

Type of trading accounts that you can open with CM Trading

Forex Trading accounts will differ according to the amount of capital you have at your disposal. Smaller accounts have different benefits when compared to larger accounts.

These are the account options that are available for CM Trading customers:

Mini Account

The mini account is the starter pack of the forex trading world.
Minimum deposit: $250-$999
Leverage: 1:200
You also get a demo trading account where you can do simulated trading in real time, weekly market reviews, as well as an e-book on forex trading basics

Classic Account

The minimum deposit for opening a classic account is $1000. It affords you the same benefits as the mini account, as well as access to a webinar.

Executive Account

This account type requires a minimum deposit of $5000 to open. The trading spread is cheaper than that of the classic and mini accounts. These are the transaction costs of the opening each trade with CM Trading (or any other broker).

A cheaper spread means that you get to maximize your profits. Over and above the benefits of the classic account, executive account holders receive access to both technical and fundamental analysis.

Premium Account

The premium account is the ultimate account offered by CM Trading. You need to a minimum deposit of $25000 to get started. With this account, you will get the same benefits as above, as well as additional training resources and some free trades.

In the case that you manage to grow your account to the point that it reaches the next account type bracket, you can contact CM Trading for guidance as to how to upgrade. The process is not automated.

CM TRADING’S PLATFORMS

A trader who uses CM Trading as their broker has access to 3 main platforms i.e Metatrader, Sirix Webtrader, and CM Trading’s Trading Mobile App.

  • Metatrader (MT4/5) is a free downloadable software which is universally accepted by both brokers and traders as the most advanced forex trading platform. It is available on desktops and mobile devices, with real-time quotes, charts, and graphs.
  • Sirix is web-based, which means that you do not need to download anything. One can access the platform through its website from any device.
  • A significant feature of the Sirix platform is the COPYKAT copy trading capability. COPYKAT allows you to follow your favorite traders, and even copy their trades. Learn more about CM Trading’s COPYKAT here.
  • The Fx Trading App is CM Trading’s mobile version of the web trader.

FINANCE: How to deposit and withdraw funds from CM Trading?

Like most online merchants, CM Trading accepts all major Credit Cards (and in some cases, debit cards that can buy online), wire transfers (with Nedbank being the preference for South African clients), Neteller, as well as Bitcoin (recently added).

Anti-money laundering laws oblige Forex Brokers to pay withdrawals to the funding source. You can only withdraw funds to the same account that you used for depositing. The withdrawal turnaround time is 2-3 business days. CM Trading MAY request additional documentation and verification before clearing your request.

This is a basic CM Trading Review. I hope that it has been a useful guide in your decision process. Contact me to inquire about my private forex coaching service or any other forex related query.

FOREX BROKERS IN SOUTH AFRICA

FOREX BROKERS IN SOUTH AFRICA

Reliable Forex brokers in south Africa:

If you have been wondering if trading Forex in South Africa is legal or not, you have made a right stop here on this post. As much as our currency (ZAR/RAND) is not as popular on the Forex market and among (us) Forex traders but the number of Forex traders in South Africa has multiplied over the years. Forex trading is not just an activity that takes place only in the Uk, Canada and Usa, Forex market is vast and can be traded anywhere and in any part of the world, there is no physical location for the buying  and selling that takes place in this trillion dollar market. There is one major precaution that we need to take before we start Forex trading, finding the right Forex brokernot just a broker but regulated and registered, preferably locally by our own FSB (Financial Services Board), I am sure we all need to be able to sleep well at night knowing who is responsible for our money, ooh well I sleep well knowing my Forex brokers are locally regulated. there is nothing wrong though with using internationally regulated Forex broker, it is an individual choice, if you are like me, then you know local is lekker.

Register Here: | CMTrading

Who regulates Forex brokers in South Africa?

In South Africa, every financial institution has a regulatory body that they fall under, there is no exception with Forex brokers as well. Financial services board (FSB) which is not an independent body is there to monitor and ensure the smooth operations of Forex brokers in South Africa,making sure the monetary  transactions in the Forex market are running smooth and can be done safely without fear of losing money due to dodgy Forex brokers. There is also Financial Advisory and Intermediary Services (FAIS) Which is there to secure overall activities of Forex brokers in South Africa. The two regulatory bodies are very strict and reliable. At the moment South Africa does not have lots of Forex brokers, there are few Forex brokers in South Africa, I personally have been with two Forex brokers since I started trading past few years, they are both FSB regulated. If you need a Forex broker in South Africa, feel free to register below  between the two brokers  that I personally use. They are both locally regulated by FSB, they are reliable and trusted, withdrawals are quick. Thank you for stopping by if you find this post informative please kindly share on your social media using social media share buttons below.

Register Here:- | CMTrading

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