CMTrading Review 2024: A Forex Broker That Dons Multiple Hats

If you want to explore a forex broker that offers more than currency pairs and even allows cryptocurrency exposure, consider looking at CMTrading. With access to over 150 assets and trading instruments, including Indices, Commodities, Stocks, and more, CMTrading is one of the more wholesome forex or online brokers.

On CMTrading, new users can even get a welcome bonus of up to $3,000.

However, there is much more to explore about this forex broker than just a detailed selection of assets. From a seamless signup flow to a minimal UI and competitive fee structure, I shall now review CMTrading in detail, exploring and evaluating all the relevant parameters. So, let us get started.

Pros and Cons

It makes sense to first look at the pros and cons of CMTrading. The following list should give you, the trader, a headstart:

Pros

• It brings in a unique Copy Trading system
• Offers access to 150+ tradable assets or instruments
• It is regulated by FSCA and FSA, ensuring credibility
• Provides access to powerful trading tools MetaTrader 4
• Offers low-risk trading support

Cons

• Some customer service issues exist
• A high minimum deposit threshold

CMTrading lets you trade CFDs or Contracts for Differences specific to stocks, commodities, and other assets, making room for more aggressive trades.

Background and History

CMTrading, the forex broker, is based in Johannesburg, South Africa. It began in 2012 and slowly expanded its repertoire regarding trading tools and asset offerings. Besides that, CMTrading has been winning numerous awards in Africa and GCC since 2017.

CMTrading was one of the pioneers of the copy trading system called CopyKat, which allowed beginners to learn from experienced traders.

The Sign-Up Flow

CMTrading has one of the minimal user interfaces for setting up an account. To get started, you simply need to click on the “Signup” option, fill in the basic info, and get started. After that, you must fill in the city, postcode, and Date of Birth details and start trading by making the first deposit.

Limits and Other Basic Details

It is worth noting that while signing up, you can choose between USD, EUR, and INR as the supported forms of currency.

Once you are all signed up, CMTrading will redirect you to the payments page, where you can initiate deposits. CMTrading lets you deposit funds using bank transfers, credit/debit cards, and crypto-wallets.

The minimum deposit limit can vary as cards and crypto are set at $20; for bank transfers, it is $250, a tad higher than other competitors’ support.

The maximum threshold for crypto deposits can be between $10,000 and $4,90,000, depending on whether you use wallets or the third-party Finrax.

All Platforms Explored

Once you sign up or log in, you can access the CMTrading Webtrader, a browser-based trading interface. However, for portability seekers, this forex broker also comes with Android and iOS apps. Here are the traits associated with each platform:

Web Interface

• It doesn’t require a download and is more of a plug-and-play tool
• User-friendly UI
• Offers the highest possible level of encryption
• Offers instant market access
• Gives access to real-time trading tips
• Round-the-clock access

Android App

• Quick access to charts and data
• Supports multi-device login via the unified login method
• Offers real-time trading alerts
• Supports live forecasts
• Allows you to monitor multiple accounts

iOS App

• Tap and swipe functionality.
• Safe trading interface
• Fastest possible transactions
• Secure deposits and withdrawal interface

Like the Android app, even the iOS app allows you to have a CMTrading account across different devices.

Features and Offerings

Already logged in with your credentials? Well, it’s time to explore the features offered by CMTrading to decide if you should onboard the same or not:

Packed With Tradable Assets

First, CMTrading makes way for over 73 US stocks, 15 commodities, 16 indices, 21 cryptocurrencies, and 51 forex pairs for you to trade as CFDs and even standalone assets. With Forex, liquidity is top-notch, whereas when it comes to indices, this forex and online broker covers FTSE, NASDAQ, and S&P 500.

Here are some of the Forex pairs and Indices supported by CMTrading.

Besides the mentioned assets, you can also trade commodities and crypto on CMTrading.

So, as you know, CMTrading even supports Arabian stocks like AAYAN.KW, ADCB.UAE, and more on its platform.

Access to Trading Tools

Besides the numerous trading assets, CMTrading also packs tons of trading tools. These include quick access to trading signals, a yearly economic calendar, a Fibonacci calculator, and more. A third-party resource, Trading Central, can help you review market insights and other forms of fundamental analysis.

Here are all the trading tools on offer:

Access to Trading Platforms

Despite the proprietary CMTrading Webtrader, experienced traders might always seek more firepower. That is precisely why CMTrading makes way for other platforms like MetaTrader 4, which is also available as a standalone app, a functional copy trading interface in CopyKat, and more.

Here is a list of everything you get:

Different Account Types

If you are more than a regular trader, CMTrading allows you to open different accounts based on your investment tier. Notably, each account type allows you access to a demo account to learn the trading ropes with made-up funds.

Plus, you can open an Islamic account, provided you are eligible.

Besides the mentioned features, CMTrading has a complete repository of educational resources featuring e-books, blogs, training videos, and more.

Fees and Overheads

Evaluating any forex broker, even CMTrading, that offers other services alongside forex pairs feels complete when delving deeper into the fee structure. Here is how that rolls:

CMTrading doesn’t charge any commission, regardless of the trade you execute. The costs are accommodated into the trading spreads, which start as low as 0.09 pips and can go as high as 1.2 pips for the cryptoassets with low liquidity.

CMTrading also charges a $15 inactivity fee if you do not use your account for trading for three months or more.

And while no deposit charges are levied on standard payments like cards and bank transfers, any crypto deposit attracts a 4% charge.

CMTrading lets you deposit via e-wallets, EFT, Skrill, Neteller, and other methods. As for withdrawals, a 2% charge must be paid on outgoing wire transfers, cards, and e-wallets. For crypto withdrawals, a 4% charge is levied.

As for the limits, you must at least fund the CMTrading account with 100 bucks. However, $250 is the recommended lower limit. There are no upper limits on deposits and withdrawals, but you must take out at least $20 to initiate the latter.

Security and Customer Support

CMTrading employs several security measures to maintain the sanctity of user data and funds. These include using segregated accounts to keep client funds safe, firewalls, and the implementation of SSL certification.

GCMT Limited, the parent firm of CMTrading, is registered in Seychelles and is regulated by FSA as part of the non-banking financial service conglomerate. This further enhances its credibility as a forex broker.

From the customer support point-of-view, CMTrading creates a live chat interface that quickly resolves concerns related to deposits, login issues, and more. The same interface also opens up a “Help” section where basic queries can be answered as articles.

It is worth noting that additional contact methods, such as phone, email, and WhatsApp, are also offered. However, apart from the live chat, the standard in-person or person-led solutions are only available between Monday and Friday at set hours.

CMTrading has a decent Trustpilot score of 4.1, with users hailing its prompt customer support setup.

Who Should Use CMTrading?

If you are primarily interested in a forex broker that’s regulated, secure, and throws in the entire collection of tradable assets, CMTrading is suitable for you. Also, trying out the same if you are an active trader makes more sense, as the inactivity fee can be a tad frustrating to pay.

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