- Beware of this forex broker. CM trading
- CM trading. What are they are all about?
- Registered, but not internationally
- The trading platform that they are using
- Methods of payment and other information
- Why are they not recommended to use?
- What are regulators saying?
Are you considering trading forex? And, you are looking for a forex broker that you can use? Then you will see that there are many different forex brokers out there. Some are recommended and some aren’t. You need to make sure that you know which broker you can use and which you can’t. CM trading is one of those brokers that you should rather avoid. There are many reasons why you should be aware of CM trading, and why you should rather use another, more trustworthy broker.
They are a South African forex broker that is warned against. The main reason for this is because your money won’t be safe when used with an international broker that isn’t internationally registered. They offer four different accounts that you can choose from.
The minimum deposit that you need to deposit is $250. There is also a demo account where you don’t need to deposit anything. But this doesn’t make these brokers more recommended. With a demo account, it doesn’t mean that when you are using real money, that you will be able to withdraw your money again.
This is essential information that you need to know. CM trading is a registered forex broker. However, this isn’t an internationally registered company. And, it doesn’t make it safer to use than with the unregistered brokers. This is why it is considered as a non-registered company. Even, if you can get a registration number and license number for this broker.
And, because it isn’t internationally registered, it is also not regulated. Meaning that the brokers aren’t regulated and will not get assistance from regulators when you have a problem with the brokers.
The trading platform that they are using is the MT4 platform. However, this is a modified version of the platform. Meaning that this isn’t really the same platform, but a cheaper imitation. Internationally, this isn’t a great and recommended platform that you can use.
This is why you should rather make use of other forex brokers. One that is making use of the trustworthy and legit MT4 platform. Or, any other internationally recognized platform.
Depending on the account that you are choosing, the minimum amount that you can deposit is $250. There aren’t many options for depositing money into their account. You can make use of a bank wire deposit, debit or credit card payment, or Neteller, CashU and FasaPay. Not really popular and trustworthy e-wallet payment options that you can rely on.
Something that is making people interesting to use CM trading, is the two different bonuses that you can get. However, the one thing that you should make sure about, is the terms and conditions about the bonuses that you can get. You might not qualify for it, as you might have thought.
There are many reasons why CM trading isn’t recommended to use for trading forex. First of all, there are more complaints than good reviews and recommendations. The different accounts that you can choose to have a huge depositing minimum. Meaning that you are putting more money at risk.
The company isn’t internationally registered and doesn’t have an international forex broker license. This also means that they aren’t really regulated and trusted. They don’t make use of trustworthy payment options and the terms and conditions of withdrawals aren’t clear enough to understand.
What are regulators saying about CM trading? The first thing that they are saying, is that they aren’t regulated. Meaning that they don’t care about the rules and regulations of trading forex. It isn’t recommended to use brokers that aren’t regulated. And, with the other information that is making them untrustworthy, this isn’t a really a broker that you can use safely.
CM trading. A forex broker that doesn’t have the right licenses and that isn’t internationally registered. This also means that they aren’t regulated and this can cause some serious problems. There are a couple of things that makes this broker a good consideration, for example, the demo account and the bonuses that they have to offer. However, this doesn’t mean that they are recommended and that you should make use of them, without any problems. The warnings of the regulators are serious and it is better to choose brokers that are registered, regulated and that are recommended by regulators.