Since its founding in 2012, CMTrading has developed into one of the most well-known brokers in Africa.
CMTrading, which has the approval of two regulators, provides traders with both the well-known MT4 trading platform and the lesser-known Sirix Platform, which has emerged as a competitive alternative, particularly for copy trading.
The highest leverage is 1:200, which is sufficient for inexperienced traders to learn how to trade the financial markets without taking on excessive risk. The asset selection includes more than 150 different instruments.
Many African Forex brokers have a structure for their accounts that is similar to CMTrading’s.
Additionally, CM Trading review offers resources for research and teaching.
What can I Trade?
The 150+ assets that CMTrading tracks span five industries and include forex, cryptocurrencies, consumables, stocks, and indices.
It offers a fantastic selection, especially for novice traders.
Many African brokers follow to the four commission-free and two commission-based trading account types as standard.
For those who contribute above $10,000, more educational options are offered.
Another widespread, albeit obviously unsatisfactory, practise is to offer better trading conditions and reduced commissions to traders who make larger amountsfree accounts, the ECN accounts have smaller amounts.
Our evaluation of CMTrading led us to the conclusion that the brokerage ought to think about providing more aggressive pricing schemes.
For traders who are strapped for time or lack confidence in their own trading tactics, Copycat, the mt4 copy trading tool at CMTrading, works with the Sirix Web Trader.
A Mirror Trader account, another third-party service provider that caters to social and duplicate trading, is also mentioned in the overview.
Although we didn’t test the Copycat system in-depth for our CMTrading review because we were more interested in the company’s other key features, it seems simple and user-friendly.
More than 1,000,000 traders call CMTrading their home, and we’re proud of that.
Options for Deposits and Withdrawals
All credit cards and bank transfers are accepted by CM Trading.
However, you must complete the account verification before making any form of payment or adding money to your account for trading.
Credit/Debit Cards: If you pay with a card, your account will be immediately activated.
On their website, you can add money to your account to start trading using your VISA card, Master card, etc.
Bank Wire Transfers: The processing time for this mode of transfer is a minimum of 3 business days.
You can email them and transfer the money from your bank account to their Nedbank account.
A few EWallets are offered on their website, including Neteller, Kiwi, WebMoney, and ecoPayz.
The cap is $100, with a $100,000 maximum.
E-Wallets will also enable instant activation for you.
Methods for Withdrawal
The same as the deposit procedures, so are the withdrawal methods.
To receive money, you can send them your debit or credit cards, such as a VISA card or Master card.
However, you should only use the card once to deposit money into your account with them.
Additionally, you can email them or speak with them about your bank account information.
The processing of withdrawals takes 24 hours.
Over 50 different trading instruments, including over 28 currency pairings, are available at CM Trading. These trading instruments include CFDs, commodities, indices, and currency pairs. Trades can be executed using CM Trading for as little as 0.01 Lot.
Depending on the account a client opens, this might change.
Depending on the trader and the instrument, different maximum trade requirements apply.
Since CM Trading provides STP execution, traders should anticipate tighter spreads and increased transparency on the cost of executing their trades.
Like the majority of brokers, CM Trading deducts a fee from the spread, which is the distinction between an instrument’s buy and sell prices.
The minimum spread for trading EUR/USD at CM Trading is 0.7 pips, which is quite little when compared to the typical EUR/USD spread.
A trader would likely pay $0 if they were to purchase one standard lot of EUR/USD (100k units) with CM Trading at an exchange rate of 1.1719 and then sell it the following day at the same rate.
The largest broker in Africa, according to CMTrading, has more than 1,000,000 traders. On mt4 copy platform you cannot fake the trades.
It offers traders the primary MT4 trading platform in addition to the Sirix Web Trader, with a clear emphasis on Africa and the GCC.
A competitive educational offering meets an appropriate research section.
The account structure of CMTrading offers a number of different account kinds, one of which gives a number of advantages for a minimum deposit of $10,000.
The 150+ asset selection that spans five sectors is adequate, especially for novice traders.
The general trading environment continues to be above average, and among African brokers, CMTrading offers one of the better options.