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https://www.cmstrader.com/#
Website
MT4/5 Identification
Full License
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
More
Danger
Warning
+44-2038687251
+44-2038687252
More
Safe Side Trading LTD
CMSTrader
United Kingdom
Pyramid scheme complaint
Expose
General Information & Regulation
CMSTrader is a Forex and CFD broker, founded in 2013, based in London, UK, and currently not subject to any effective regulation.
Market Instruments
CMSTrader offers investors a range of trading assets, including currency pairs, commodities, indices, stock CFDs, and precious metals.
Minimum Deposit
CMSTrader offers investors three different trading accounts: Mini account (minimum deposit of $500), Silver account (minimum deposit of $10,000), and Gold account (minimum deposit of $50,000). CMSTrader requires $ as a start, apparently higher than most brokers, as they only ask $100-$200 for traders to start trading.
CMSTrader Leverage
Trading leverage differes depending on different trading accounts. The maximum trading leverage for the Mini account is up to 1:200, 1:400 for the Silver and Gold accounts. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
Spreads & Commissions
The spread on the CMSTrader Mini account is 3 pips for EURUSD, which is well above the industry standard. Most legit brokers offer normal spreads between 1.1 pips and 1.5 pips on EURUSD.
Trading Platforms
Unlike most other dealers, CMSTrader offers traders not the most popular MT4 trading platform on the market today, but the Sirix trading platform, which is compatible with desktop, web, and mobile devices.
Deposit & Withdrawal
CMSTrader welcomes various deposit and withdrawal methods, mainly wire transfer, credit/debit cards (VISA, MasterCard, Maestro), and CMSTrader MasterCard. Popular payment methods such as Skrill, Neteller, and FasaPay are not available. The minimum amount for deposit & withdrawal is USD100, and the maximum amount is both USD 10,000.
CMSTrader Pros & Cons
CMSTrader Advantages Include:
1. Islamic accounts offered
CMSTrader Disadvantages Include:
1. No regulation
2. High minimum deposit requirements
3. Higher spreads, not competitive
4. Non-MT4 trading platform
5. Limited payment options
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