|Website||Rating||Popularity||Min Deposit||Regulator||EUR/USD spread|
CM Trading broker review
When the retail FX market has just commenced, it was incredibly resourceful to establish a Forex brokerage. A company had to invest into a proprietary trading technology, obtain regulations, provide educational activities, do lots of marketing and advertising, and so on. Today it has become much easier to kick off an FX brokerage business, yet there are still brokers that are doing almost the bare minimum to attract the client. Welcome our winner in this category – CM Trading.
CM Trading described in simple words
First things first. Is CM Trading a scam? Nope. It is a brokerage that is regulated by the Financial Services Board, a South African financial regulator. But don’t get too excited right here, it seems like a proper regulatory body behind this brokerage is the only advantage it has.
Can CM Trading be trusted? We doubt. When looking at the CM Trading’s website, you can spot the following phrase “CM Trading is the Brand name of Global Capital Markets Trading and BLACKSTONE Marketing SA(PTY)LTD (GCMT SA)”. Once we tried googling some more info about the companies that actually own cmtrading.com, we were quite puzzled. There is absolutely no info about these two apart from the CM Trading reviews.
Next to the lack of transparency, it does not seem like CM trading has invested many resources into developing its website. It looks pretty cheap and quite empty.
The website is also available in English, Arabic, Chinese, Indonesian and Spain. This is a rather tiny set of supported languages. Obviously, as you read this review, you speak English. However, there can be many issues during your trading and it is best to select a broker that can actually offer you support services in your mother tongue.
Finally, the broker has absolutely no information about its spreads and commissions, as well as other contract specifications.
As you can see, there is not much you can get from CM trading apart from the regulation.
CM Trading Software
This brokerage gives you access to two trading platforms – MetaTrader 4 and Sirix. MT4 is only available as a desktop platform and a mobile app, hence there is no web trading version for the MT4. However, you can get web trading on the Sirix platform, as well as CopyKat and the Sirix mobile trading app.
It does not look like the worst combination of the trading software that we have seen, but it certainly misses MT4 Web Trading platform.
CM trading details and honesty
While we can obviously evaluate the broker based on the hard data (platforms, spreads etc), those are always little things that make the biggest difference. We can honestly say that CM Trading has a very little attention to the detail.
Its website footer states the Copyright from the year 2015. Considering the fact that this review is written in the early 2018, it means that for around three years the Copyright year was not correct and still hasn’t been fixed by any of the “expert” team members. Would you expect such a broker to fix your trading issues in the efficient manner? We doubt that.
When browsing CM Trading’s About Us page, you can clearly spot that the text has been written by someone who has very little to do with the company.
The company sees itself as one of the most innovative in the industry and they claim that they strive to continue innovating! This is quite a ballsy statement, especially considering that CM Trading is not offering any of its proprietary trading technology and has to use TradingView widget to display the currency rates.
The final thought
CM Trading is a brokerage that you should avoid at all costs. This company will not necessarily steal your money (although we can’t promise that), but it does not seem like it brings anything extra to the table. Besides that, the lack of transparency behind the costs involved and the companies that own the brand is quite alarming. Even if you are looking for an FSB regulated brokerage in particular, there are much better options to choose from.