CMTrading Review

Table of Contents

In this CMTrading review, we give you an in-depth, unbiased overview of the trading conditions, safety, accounts and platforms, and instruments offered by them and give an honest opinion of trading with them.

 

Overall Rating

3.9/5

Rated #5 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSCA, FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

19

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

CMTrading is a South African broker that was founded in 2012 and they currently have more than 1 million clients worldwide.

Their minimum deposit requirement is 100 USD and accounts can be funded using USD, EUR, ZAR, NGN or KSH.

The base currency you can use will depend on the payment method you choose and there are several flexible payment methods available.

CMTrading offers a wide variety of Forex pairs, Commodities, Stocks, Indices and Cryptocurrencies and you can leverage your trades by up to 1:400 times your deposit amount on most instruments.

CMTrading is regulated by the Financial Sector Conduct Authority and the Financial Services Authority, and they have won many awards since launching. 

CMTrading offers 4 types of accounts (as well as demo and swap-free accounts) and you will be able to use the MetaTrader 4 platform and the CMTrading Webtrader when you open an account with them.

They also offer a proprietary copytrading system called “CopyKat” and they allow their clients to use MT4 Expert Advisors and the MQL programming language to automate their trades.

CMTrading is a safe and reliable broker with a good reputation and we recommend them to all types of trades, including beginners.

 

Overview of CMTrading:

Year founded 2012
Headquarters South Africa
Client Base 1 mil+
Minimum deposit $100
Maximum leverage 1:400
Base currencies supported
  • USD
  • EUR
  • ZAR
  • NGN
  • KSH
Instruments
  • Forex (19)
  • Commodities (15)
  • Stocks (69)
  • Indices (17)
  • Cryptocurrencies (23)
Regulations
Swap-free accounts Yes
Demo accounts Yes
Account types:
  • Bronze
  • Silver
  • Gold
  • Premium
VIP, Referral Program or Active Trader  20% welcome bonus
Customer Support
  • 24/5
  • Live chat
  • Email
  • Telephone
Platforms
  • MT4
  • CM Trading WebTrader
  • Copykat

 

SAFE OR SCAM?

✅Client funds are held in segregated accounts with top financial institutions and will never be used to cover company expenses.

✅To further protect their clients, CMTrading also guarantees Negative Balance Protection on accounts to prevent your account from ever having a negative balance.

✅CMTrading is one of the safest online brokers you can trade with.

 

CMTrading is regulated by:

  1. FSCA (The Financial Sector Conduct Authority)
  2. FSA (Financial Services Authority)

 

Pros and Cons

✔️Pros ❌Cons
1 mil+ clients No USA clients
Welcome bonus
Multiple platforms
Flexible account types

 

Leverage 

By leveraging your accounts, you can gain more exposure to the markets and you can trade instruments without initially paying the full price to open or close a trade. 

How leverage works, is that you are borrowing funds from the broker to trade larger positions. 

The higher the leverage, the bigger your position – but this also means that you are indebted to your broker. Most trading instruments can be leveraged.

 

There are several benefits to using leverage:

  • Profits are calculated using the full value of your position 
  • Gearing opportunities to increase the amount available for investment
  • Going short and using leveraged instruments to speculate on market movements
  • You can trade 24 hours on some instruments

 

But there are also some disadvantages to leveraged trading:

  • Margin can magnify your loses
  • Leveraged trading can prevent you from actually owning assets, depending on your account balance
  • Margin calls can result in financial losses if positions move against you
  • If you hold your leveraged trades open overnight, rollover fees will be charged

 

💳Account 🔼Max. Leverage
All accounts 1:400

 

If you are planning on leveraging your trades, proceed with caution because not only will you gain more exposure to the markets, but you will also significantly increase your exposure to investment risks and financial losses.

 

Accounts

CMTrading offers 4 live trading account types ranked from bronze to gold to premium, with Bronze accounts being entry-level accounts that are suitable for beginners and Premium accounts being optimised for high-net-worth individuals who are making bigger deposits of 100,000 USD or more.

They also offer risk-free demo accounts that we recommend for absolute beginners who are still learning the basics of trading, and they allow their Muslim clients to convert their accounts to swap-free accounts so that no interest is earned or paid when trading. 

To qualify for cashback rebates with CMTrading, you need to contact customer support and subscribe to that specific plan.

 

CMTrading account types:

  1. Bronze
  2. Silver
  3. Gold
  4. Premium
  5. Swap-free
  6. Demo

 

CMTrading Bronze Account: (Standard account)

  • Minimum deposit: $100
  • Demo version: Yes
  • Market Reviews: Yes
  • Webinars: Yes
  • Spreads: Regular
  • CMTrading eBook included
  • Introductory trading video included

 

CMTrading Silver Account: (Most popular)

  • Minimum deposit: $1,000
  • Demo Version: Yes
  • Market Reviews: Yes
  • Webinars: Yes
  • Spreads: from 1.2 pips
  • Market Analyst: Yes
  • Live Trading Signals by Trading Central
  • Market Analysis by Trading Central
  • 1 Risk-free trade
  • CMTrading eBook included
  • Advanced trading video included

 

CMTrading Gold Account: (Professional)

  • Minimum deposit: $10,000
  • Demo Version: Yes
  • Market Reviews: Yes
  • Webinars: Yes
  • Spreads: from 0.9 pips
  • Cash Back Rebate: Yes
  • ECN Account: Yes
  • Trading Scholar
  • Live Trading Signals by Trading Central
  • Market Analysis by Trading Central
  • 3 Risk free trades
  • CMTrading eBooks included
  • Professional trading video included

 

CMTrading Premium Account: (Professional & Institutional)

  • Minimum deposit: $100,000
  • Demo Version: Yes
  • Market Reviews: Yes
  • Webinars: Yes
  • Spreads: from 0.9 pips
  • Cash Back Rebate: Yes
  • Customized Account: Yes
  • Access to Trading Room: Yes
  • Top news and Analyses: Yes
  • Special offers: Yes
  • ECN Account: Yes
  • Trading Guru
  • Live Trading Signals by Trading Central
  • Market Analysis by Trading Central
  • 3 Risk free trades
  • CMTrading eBook included
  • Professional trading video included

 

Market Instruments

CMTrading offers more than 150 tradable instruments, but we highly recommend trading with them if you want to trade Forex, Shares and/or Cryptocurrencies.

 

CM Trading offers the following instruments:

  • Forex (50+)
  • Commodities (7+)
  • Shares (60+)
  • Indices (10)
  • Cryptocurrencies (30)

 

CMTrading Fees and Commissions

The minimum deposit required to activate a live trading account is $100. Deposits and withdrawals are free of charge, but your bank or card provider might charge transaction fees. 

If you are paying with any of the major cryptocurrencies supported, a 4% fee will be charged.

CMTrading also charges a 2% conversion fee for all deposits and withdrawals that are not from a bank account that is denominated in USD or EUR.

When positions are beheld overnight, a rollover or swap fee is due. 

Overall, trading costs are low.

 No commission fees are charged on any of the CMTrading accounts.

 

Deposits and Withdrawals

With CMTrading, most deposits are instant but Bank Wires can take up to 5 business days (so avoid making deposits on Fridays because it might take longer).

 

 💳 CMTrading Payment methods:

  • Bank Wire
  • OZOW
  • EFT
  • Skrill
  • Neteller
  • Credit Cards – Visa and Mastercard
  • Mpesa
  • Local Mobile Money
  • Crypto

 

The currency you can use to fund your account will depend on the payment method you use.

 

Research and Educational Resources

CMTrading offers plenty of educational materials, including:

  • Training videos
  • Webinars
  • Live seminars
  • eBooks
  • “How to” video tutorials

 

🔍There are dozens of in-depth training videos that will give you introductory Forex lessons and teach you all about chart patterns, indicators, crypto trading and timing your entries and exits into the markets. 

 

🔍 There are also training videos on advanced trading lessons and expert trading lessons. 

These videos explain the fundamentals of stock trading and how to use market indicators and stock trading charts. 

They also go into more detail about using technical analysis and advanced stock trading strategies, and you can also use these videos to learn about pivot points and expert-level stock trading techniques.

 

🔍 You can also tune in to their live online webinars to watch the pros trade and talk about their trading strategies. 

You can get plenty of insight and quality advice by watching webinars, and you might even pick up a few tricks by watching live trading sessions. 

You can keep an eye on their calendar to see when the next webinar is scheduled and we highly recommend watching their live sessions if you are a beginner.

 

🔍 If you’re keen to network and meet traders and professionals in person, you can attend the seminars that are hosted in South Africa and Nigeria. 

These seminars include workshops that get you from beginner to pro in half the time and you can attend Q&A sessions and get industry-level advice from expert traders. 

Due to lockdown restrictions and COVID-19, seminars may be postponed until further notice, but you can email their customer support team directly to find out if there are any seminars scheduled.

 

🔍 You can learn at your own pace with CMTrading’s range of eBooks. These eBooks cover topics like trading basics, advanced trading strategies and trading different instruments. 

They also provide e beginner’s guide eBook that will teach you how to trade Forex, how forex quotes work, how to calculate pips and how to manage your margin requirements.

 

Trading Platforms

CMTrading is a MetaTrader-friendly broker that also offers a proprietary platform, a copytrading platform and Expert Advisor functionality.

CopyKat is CMTrading’s signature copy-trading platform and you can use it to watch professional traders and copy their trades automatically. 

Using CopyKat is a great way for beginners to learn the basics about trading while their trades take place automatically in the background.

CopyKat accounts can be created by depositing $250. Once your account is funded, you can search for traders and follow their strategies. 

You can also use CMTrading’s selection of MT4-compatible Expret Advisors to automate your trading strategies using the MQL programming language and the Meta Editor.

If you don’t have the time or knowledge to code your own programs, there are hundreds of templates and MT4 comes with two pre-installed EAs.

 

CMTrading supports the following platforms:

  • MetaTrader 4
  • CM WebTrader
  • CopyKat

 

If you are curious about the proprietary CMTrading WebTrading platform, then we recommend opening a demo account and trying it out for yourself. 

This platform can be used on mobile devices, laptops, desktops and tablets without installing any software.

CMTrading’s Webtrader is a secure trading platform with a simplistic, user-friendly interface that can be used to easily manage multiple accounts from one dashboard. 

Add the instruments you trade the most to your favourites list and choose the perfect moment to open or close a trade with the Trader’s Trend bar. 

You can also use the drawing tools provided to monitor price movements during market trends and take screenshots for future reference. 

There is also a variety of indicators you can use – from Oscillators and Trend indicators, to Bill Williams indicators and custom indicators – and you can make a list of your favourites here, too!

 

Trading Tools and Platform Features

We recommend choosing a broker that offers some basic tools that we believe are essential for successful trading, including:

  • Drawing tools
  • Trader’s Calculators 
  • News and Market updates
  • Trading Signals
  • Technical Indicators

 

CM Trading Mobile app:

  • 24/7 user updates
  • Real-time online trading tips
  • Multiple timeframes
  • Customisable charts
  • Trend bar
  • Light mode/Dark mode
  • Intuitive drawing tools
  • Plenty of indicators

 

CMTrading offers the following standard tools:

  • 24/5 Support
  • Daily Market Reviews
  • Trading Signals
  • Economic Calendar
  • Fibonacci Calculator
  • Pivot Calculator
  • Stop Loss Level calculators
  • Stop Loss Amount calculator

 

As a MetaTrader-friendly broker, you will be able to use:

  • MQL
  • Smart Trader Tools
  • Autochartist
  • Hedging tools
  • 21 timeframes
  • 38 built-in indicators
  • over 2 000 free custom indicators
  • 700 paid indicators
  • Basic tools for graphic analysis
  • One-Click-Trading
  • Algorithmic trading
  • MetaTrader Market
  • Fundamental analysis news

 

Customer Support

The CMTrading customer support team can be reached through telephone, live chat, web tickets and email.

24/5 support is offered in multiple languages. 

 

📧 You can email them directly at:

  • Support: support@cmtrading.com
  • Account Opening: accountopening@cmtrading.com
  • Finance: finance@cmtrading.com
  • Introducing Business: ib@cmtrading.com

 

☎️ You can call them directly on:

  • South Africa: +27 10 157 19 89
  • Nigeria: +234 700 123 5347
  • United Arab Emirates: +971 458 24 888
  • United Kingdom: +44 161 388 3321
  • Fax: +44 203 808 6045

 

You can visit their FAQ section to find out more about the company, creating and managing accounts, funding accounts and making withdrawals. 

The FAQ section also provides some answers to the most commonly asked questions of beginners and they explain what pips and spreads are, how to use leverage and margin, and other basic concepts.

 

Awards

🏆 2022 

  • Best Financial Broker Nigeria – Global Business Magazine 

 

 🏆 2021 

  • Best Financial Broker Africa – Finance Derivative Awards 
  • Best IB program GCC – Global Business Review Magazine 
  • Best Performing Broker Africa – Global Business Review Magazine 
  • Best Broker Nigeria – Ultimate Fintech Awards 

 

🏆 2020 

  • Best Financial Broker Africa – International Business Magazine 

 

 🏆 2019 

  • Best Broker Africa – Global Brands Magazine 
  • Best Forex Broker Africa – International Business Magazine 

 

🏆 2018 

  • Best Forex Broker Africa – Global Brands Magazine 

 

🏆 2017 

  • Best performing Broker Africa – Africa Investor 

 

How To Open a CMTrading Account

By following a few simple steps, you can create a CMTrading account in just a couple of minutes.

 

Follow these steps:

  1. Register for a trading account via the website
  2. Confirm credentials by providing supporting documents
  3. Await verification process to be completed
  4. Make your first trade!

 

The reason why you need to submit identification documents when applying for accounts with most regulated brokers is that they are trying to improve the safety of their platforms by eliminating fake accounts. 

They also need these documents for KYC requirements and to comply with any tax legislation laws – especially for high-net-worth clients and professional traders. 

By submitting valid documents, you are also protecting yourself because you will be able to prove that your account belongs to you, should anything happen.

Regulated brokers will never leak your personal information, nor will they sell it or abuse it for personal gain, which is why it is so important to trade with a broker that you can trust. 

 

Conclusion

CMTrading is one of our top-rated South African brokers. They offer competitive spreads, flexible account types and a wide range of tradable instruments that you can invest in, buy or sell to diversify your portfolio.

There are many advantages to trading with CMTrading, but what we like the most about them is their intuitive copytrading system (CopyKat), which makes it so much easier for all types of traders to start their trading careers, and we also really like the fact that they encourage people to use Expert Advisors and see if automating their strategies works better for them.

 

Overall Rating

3.9/5

Rated #5 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSCA, FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

19

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

CMTrading is a safe, regulated broker that can be trusted and we hope that this CMTrading review has answered some of the questions you might have about trading with them. 

Good luck with your investments!

 

Frequently Asked Questions

Is CMTrading regulated and safe to trade with?

Yes, they are regulated by:

  • FSCA
  • FSA

 

What is CMTrading’s minimum deposit requirement?

$100

 

What base currencies does CMTrading support?

You can fund your account using:

  • USD
  • EUR
  • ZAR
  • NGN
  • KSH

 

What payment methods does CMTrading accept?

CMTrading Payment methods:

  • Bank Wire
  • OZOW
  • EFT
  • Skrill
  • Neteller
  • Credit Cards – Visa and Mastercard
  • Mpesa
  • Local Mobile Money
  • Crypto

 

What account types does CMTrading offer?

CMTrading account types:

  • Bronze Account
  • Silver Account
  • Gold Account
  • Premium Account
  • Swap-free Account
  • Demo Account

 

Does CMTrading offer demo accounts?

Yes

 

Does CMTrading offer swap-free accounts?

Yes

 

What leverage does CMTrading offer?

Up to 1:400

 

What spreads does CMTrading offer?

  • Bronze Account: Regular
  • Silver Account: 1.2 pips
  • Gold Account: 0.9 pips
  • Premium Account: 0.9 pips

 

What platforms can I use with CMTrading?

There are several different platforms that you can use:

  • MT4
  • CMTrading WebTrader
  • CopyKat

 

Is CMTrading not available in some countries?

Not available in: USA