CMTrading Review – Platforms, Accounts & Key Considerations

Unregulated Broker, Be Cautious When Trading with CMTrading

In the expansive realm of online trading, selecting a broker that aligns with your trading objectives and ensures a secure environment is paramount. Established in 2012, CMTrading has positioned itself as a notable player in the forex and CFD brokerage industry, particularly within the African market. This comprehensive review delves into CMTrading’s regulatory framework, trading platforms, account types, tradable instruments, fee structures, deposit and withdrawal methods, customer support, educational resources, and user feedback.

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CMTrading Information

Regulations: NONE
Trading Instruments: CFDs and Forex
Range of Markets: Forex, Indices, Commodities, Stocks, Cryptocurrencies
Trading Platforms: MetaTrader4, CMTrading WebTrader, CopyKat
Key Features: High Leverage, Copy Trading, Crypto Deposits

Pros and Cons

Reviews from the Web

What CMTrading Has to Offer

CMTrading

Regulation and Safety

CMTrading operates under the corporate entities GCMT Limited, regulated by the Financial Services Authority (FSA) in Seychelles. While these regulatory bodies provide a level of oversight, they do not offer the same degree of investor protection as top-tier regulators like the UK’s Financial Conduct Authority (FCA) or Australia’s Securities and Investments Commission (ASIC). Therefore, traders should exercise due diligence and consider the implications of trading under these regulatory frameworks.

To enhance client fund security, CMTrading asserts that client funds are held in segregated accounts with reputable banks, ensuring that client assets are kept separate from the company’s operational funds. However, it’s noteworthy that some user feedback has raised concerns regarding fund withdrawals and account management, emphasising the importance of thorough research and caution.

Trading Platforms

CMTrading offers a selection of trading platforms to cater to diverse trader preferences:

MetaTrader 4 (MT4): Renowned for its user-friendly interface and robust functionalities, MT4 supports automated trading through Expert Advisors (EAs) and offers advanced charting tools.
CMTrading WebTrader: A proprietary web-based platform that allows traders to access their accounts from any device with an internet connection, offering real-time market data and analysis tools.
CopyKat: CMTrading’s social trading platform enables clients to mirror the trades of experienced traders, facilitating a learning experience for novices and diversification for seasoned traders.

All platforms are accessible via desktop, web browsers, and mobile devices, ensuring flexibility and convenience for traders.

CMTrading platforms

Account Types

CMTrading provides several account types tailored to different trading needs:

Basic Account: Requires a minimum deposit of $299. This account is tailored for beginners, providing access to essential trading tools, daily analysis, and educational content.
Trader Account: With a minimum deposit of $2,000, this account introduces more active features, including risk-free trades, Trading Central signals, and additional market insights.
Gold Account: Starting at $20,000, the Gold Account unlocks tighter spreads, dedicated market analyst support, and more comprehensive market research tools.
Premium Account: For traders depositing $85,000 or more, this account includes exclusive tools, faster trade execution, higher-level coaching, and greater support customisation.
VIP Club: Designed for professional or high-net-worth clients with a minimum deposit of $250,000. VIP clients receive ultra-personalised support, tailored strategies, priority access to services, and premium trading conditions.
Islamic Account: Available upon request, this swap-free option complies with Sharia law and mirrors the benefits of any of the above accounts, minus overnight interest charges.

Tradable Instruments

CMTrading offers access to a diverse range of trading instruments across various asset classes:

Forex: Trade over 50 currency pairs, including major, minor, and exotic pairs.
Commodities: Engage in trading precious metals like gold and silver, energy products like oil, and agricultural commodities.
Indices: Access global stock indices from major economies, including the S&P 500, NASDAQ, and FTSE 100.
Stocks: Trade CFDs on shares of leading companies across various sectors.
Cryptocurrencies: Speculate on popular digital assets like Bitcoin and Ethereum through CFDs.

This extensive selection enables traders to diversify their portfolios and explore various markets.

Deposit and Withdrawal Options

CMTrading supports a variety of funding methods to accommodate global clients:

Bank Transfers: Processing times typically range from 1 to 5 business days, depending on the bank and country.
Credit/Debit Cards: Visa and MasterCard options offer instant processing, with deposits requiring a minimum of $100.
E-wallets: Supports major providers like Skrill, Neteller, and Fasapay, offering swift transactions.
Cryptocurrency Payments: Deposits and withdrawals using cryptocurrencies like Bitcoin and Ethereum are available, providing additional flexibility.

While CMTrading does not charge deposit fees for most methods, withdrawals may incur fees, and processing times can vary based on the method chosen. Traders should review the specific charges and processing times before proceeding.

CMTrading Pros and Cons

Pros

Wide Range of Account Types: CMTrading offers a clear progression of account tiers, from Basic to VIP Club, catering to different capital levels and trader experience. Each tier brings added benefits, making it easier to scale up as your trading evolves.
Multiple Platform Options: With access to MetaTrader 4, CMTrading’s WebTrader, and their proprietary CopyKat social trading platform, traders of all levels can choose an interface that suits their style and objectives.
Social Trading via CopyKat: The CopyKat platform provides an easy entry point for newer traders or those short on time, enabling them to follow and mirror successful traders’ strategies in real time.
Diverse Asset Offering: From forex and indices to commodities, stocks, and crypto CFDs, CMTrading provides a decent spread of markets for diversification.

Cons

Spreads Are Too High: Trading costs are above average, with spreads on major pairs like EUR/USD starting from 1.9 pips—significantly higher than what many competitors offer.
Limited Transparency on Spreads: Spread information isn’t easily accessible on their main site, making it harder for prospective clients to assess real trading costs up front.
Non-Tier-1 Regulation: Although regulated by FSA Seychelles, CMTrading does not fall under top-tier regulators like the FCA or ASIC, which may affect perceived trust and fund protection.
High Deposit Thresholds for Advanced Accounts: The minimum deposits for Gold, Premium, and VIP Club accounts are significantly higher than industry norms, which could deter smaller retail traders.
No MT5 Support: While MT4 is still widely used, the absence of MetaTrader 5 might be a drawback for those looking for more advanced trading tools and faster execution.

CMTrading’s Reviews from the Web

CMTrading Trustpilot reviews

Mixed User Feedback on Trustpilot: Although CMTrading has a fair number of positive reviews on Trustpilot, several recent complaints point to issues with withdrawals, aggressive account managers, and difficulties closing accounts. This inconsistency in experiences suggests traders should proceed with caution and do their due diligence.

Final Verdict: Is CMTrading Worth It?

CMTrading presents itself as a full-featured broker with a strong regional presence, a wide selection of platforms, and structured account types tailored to different stages of a trader’s journey. The educational content and social trading tools are definite plus points, particularly for those just getting started.

However, there are trade-offs — namely, high deposit requirements for access to better conditions, non-top-tier regulation, and spreads that are notably above industry averages. The mixed user feedback, especially around account handling and withdrawals, also warrants attention.

In short, CMTrading may appeal to new or intermediate traders based in specific regions, particularly those looking for social trading features and a straightforward entry. But experienced or cost-conscious traders should weigh these factors carefully before committing real capital.