Africa’s largest, award-winning local Forex and CFDs broker CM Trading is making waves in the online trading market, and it has been gathering quite the following, be it with registered members or on social media over the past 10 years. Read our review below and learn why you may want to consider opening a trading account with this brokerage.
In South Africa
Africa’s largest local brokerage CM Trading has been in the market for the past 10 years. Just a few months ago, this broker was named Africa’s Best Financial Broker in 2019, which adds yet another title to the past 3 consecutive years of awards for this broker’s excellent performance. CM Trading is a well-known broker which offers its traders the opportunity to trade foreign exchange, commodities, stocks, indices, and even cryptocurrencies.Regulated by the FSCA, this broker is one of your safest options while trading online.
Unique Trading Tools
To provide its traders with the ultimate trading experience, CM Trading has added 3 prominent features that any trader should have in his or her toolbox. The first one is the CopyKat, which allows you to copy the leading traders on the market. This feature is typically known as social trading, where you can apply the same method as the described above while adjusting the trade to your account.
In other words, if the trader you’re following opens a trade on the gold vs the USD and funds it with $10,000, you can open your trade with $1000, for example.
In addition, when you open your account, you will be able to access the Trading Central. This platform is where you can customize your own dashboard and get live trading signals on a daily basis. CM Trading also sends live trading signals twice a day via email and posts them to its official website.
CM Trading offers its clients two popular trading platforms on which they can trade, the MetaTrader4 or Sirix. The trading app is available on desktop and laptop computers, smartphones, and tablets. The app is compatible with both iOS and Android operating systems.
We recommend that you use the classic MT4, which now comes equipped with the Expert Advisor trading robot. The robot will be added and enabled on your trading account per your request and only after you speak to your market analyst.
Not sure whether you are ready to take the next step?When opening a live trading account, you can request a demo account where you can practice trading online in a risk-free environment. Once you feel ready to start trading, just switch over to your live trading account.
Among CM Trading’s many educational materials, its daily market reviews, trade of the day videos, and live webinars are the ones that make this broker stand out from the competition. While this company offers the classics such as eBooks and 1-on-1 training sessions, the company still encourages its traders to stay up to date with market trends and movements, news, and the best trading strategies by getting their insights from CM Trading’s market experts.
The webinars take place about once a week, alternating between different subjects. The one recurring theme is “Make Me a Trader”, which is an introductory course that takes place about once a month. This webinar is intended for those traders who are taking their first step onto the global market.
Deposits and Withdrawals
To open a trading account with CM Trading, you’ll have to deposit a minimum amount of $250. You can make a deposit by using Visa, Mastercard, wire transfers at Nedbank, Neteller, and TrustWave among others.
Please note that once you request a partial or full withdrawal, the broker will send it using the same method you used while depositing. Processing times range between 3-5 for credit card transactions and 4-7 for wire transfers.
After having surveyed and researched what other local brokers had to offer their African clients, we feel like CM Trading comes out on top in every aspect. From its advanced trading tools to its educational materials, this brokerage places any possible medium you can think of within reach.
In addition, CM Trading accepts deposits and sends withdrawals via wire transfers at Nedbank, so you know your funds are in capable, trustworthy hands.