Founded way back in 2011, in South Africa, CM Trading is indeed one of a handful of brokers who accept traders from Canada. As such, Canadians will probably want to know whether it is safe – and at the end of the day: potentially profitable – to trade with this operator.
Seven years in the online trading industry is indeed an eternity, and during this time, the broker has racked up plenty of feedback from its users. Some of this feedback is inevitably bad (some traders accuse the broker of spread-manipulation and stop loss-abuse) but most of it is good and great. People appreciate the multi-language support of this global broker, they like the trading platforms and apparently: the trading conditions as well.
The corporate actor behind the CM Trading brand is GCMT SA (and Global Capital Markets Trading). Interestingly, while it is indeed clear that the brokerage comes under the regulatory umbrella of South Africa’s FSB (Financial Services Board), it operates under a license issued to Blackstone Marketing SA. The number of this license is: 38782.
While the FSB is a solid and prestigious regulator, the regulatory profile of the brokerage is not all it could/should be. An operator of this scale would be expected to be regulated and licensed under several other jurisdictions too, given how its services are peddled through various countries all over the world.
What would tilt the scale of your decision towards picking this broker over others though?
Quite possibly the most attractive feature CM Trading brings to the table is copy trading. The clients of the brokerage can follow and copy the moves of more experienced and successful traders, thus theoretically being able to turn a profit without much effort on their own part.
In addition to that though, CM Trading offers great market coverage as well as a rather superb selection of trading platforms. The education section of the official website is great as well.
Personalized support is also available to those who qualify for it. Automatic Forex signals are provided as well.
Obviously, if you happen to be a Canadian trader, the fact that the brokerage accepts you is a major mark in the + column too.
Some 4 account types are available at CM Trading, the most accessible of which is the Mini Account. To qualify for such an account, one needs to deposit at least $250. For that money, normal spreads are offered (not really attractive), as well as maximum leverage of 1:200. Traders at this level also receive a daily market review, as well as a Trading eBook.
The Classic Account is proclaimed the most popular at the site. This one requires a minimum deposit of $1,000. Like the Mini Account, the Classic one offers access to a Demo account, to regular spreads (still not particularly attractive) and to 1:200 leverage. In addition to what the Mini Account offers, the Classic Account provides a risk free trade as well as a selection of webinars.
The Executive Account calls for a deposit of at least $5,000. For that money, users gain access to tighter spreads, a VIP Debit Card, two risk-free trades and webinars covering a wider range of trading-related issues.
The Premium Account reigns supreme at the top of the account-tier ladder. The minimum deposit for this one is $25,000. The leverage is the same, though very competitive spreads are offered, together with same-day withdrawals. A couple of free trading strategies are thrown into the mix as well.
The main trading platform of the brokerage is MT4, which is enhanced with CM Trading features. These extra features are meant to further improve what’s an already powerful trading environment.
The advantages of MT4 are quite obvious: superb charting, scores of time-frames and drawing tools and a plethora of preinstalled technical indicators. The MT4 environment is fully customizable, and it supports the use of EAs, which can automate trading.
In addition to MT4, CM Trading also features Sirix, in a number of variants, covering everything from PC-based trading to mobile and web-trading.
CopyKat is available for copy-trading and there is a social mobile app provided as well.
In addition to credit cards such as VISA and MasterCard, CM Trading also accept eWallets too, such as Neteller. FasaPay, CashU and UnionPay are also accepted in certain jurisdictions.
The supported markets are the usual ones: FX, commodities, indices, stocks and CFDs. Cryptocurrencies can be traded via CFDs as well, but traders cannot actually purchase cryptos through the broker.
The CM Trading customer support can be contacted in several languages. The support channels are live chat, email, and phone (some 16 local numbers are available).
CM Trading is a safe destination for trader funds.
A solid, licensed trading destination, CM Trading is indeed an excellent option for Canadian traders.