CM Trading vs HotForex Which broker is better in year ?

While the lack of support for PO Box residences may be a hassle for some traders, this is a common feature to prevent identity fraud. CM Trading is one of the largest Forex brokers in South Africa and is easily the top performing financial company in the South African FX market. CM Trading is regulated by the Financial Services Board (FSB), which is South Africa’s equivalent of a regulatory organisation that is responsible for monitoring financial companies operating in the region. The secure back office of CM Trading handles all financial transactions, where traders have eight deposit and withdrawal options.

It’s also important to note that CM Trading only publishes its average spreads for the Bronze Account. This is unusual and is not consumer-friendly, as traders want to know what their ongoing trading costs are going to be before opening a live account. For the days to come, the company is concentrating on bringing forth an Education and the IB’s center in Johannesburg and Dubai, their main markets. They will also be adding new trading tools like MT5 at the beginning of 2020 in their plethora of solutions and services. Alongside the company is all set to launch new mobile app early 2020 which will take them a notch higher than the rest of the companies.

CMTrading Apps For Mobile

South Africa, known for its proximity to sea trade routes, proactive market participation, and international partnerships, is quickly turning out to be a significant player in the global markets. South Africa has one of the fastest-growing economies in the world, which is poised to become an important contributor to the world’s economy. Trading accounts at CMTrading offers four accounts suited to the different needs. The trading account features also divided by the balance maintenance while the next level account will be applied once the necessary amount reached. Since a safe and secure trading environment stays at the paramount priority the CMTrading delivers highly secured trading experience through their own SSL security systems while all clients funds are held in segregated accounts. CM Trading offers a more competitive choice for social traders, while HotForex caters better to algorithmic trading requirements.

• Moreover, a wide variety of training videos, webinars, technical analysis tool and e-books offered for free and available to any trader.
• While most of the training videos are aimed at beginner traders, lessons in technical and fundamental analysis and trading plans support more advanced learning.
• Trading accounts at CMTrading offers four accounts suited to the different needs.
• Therefore, from now on we moved CMTrading to our unregulated brokers’ list, known as brokers to avoid since money safety is a first always choose only among the sharply regulated brokerage firms to ensure your protection.
• Neilson Financial Services is a global provider of Direct Life Insurance, providing products directly to consumers in the US and UK markets.
• CMTrading seems to be really committed to offering the best trading platforms for its traders, and the broker is true to its word by offering some of the leading platforms for trading the Forex market.

HotForex is an all-around competitive broker with upgraded trading platforms and low trading costs. However, most traders, especially cryptocurrency and social traders in Africa, will find CM Trading the better all-round option. Founded in 2012 in South Africa, CM Trading is a market maker with high ongoing trading costs and high minimum deposits compared to other Forex brokers.

CM Trading’s Non-trading Fees

However, the most efficient is to check the available option on the official broker’s website. At CMTrading, the support provided to the clients’ demand is the central part of the company philosophy. So to make it as easy, the customer can get to by Live Chat, email or one of the numerous International phone numbers. Moreover, a wide variety of training videos, webinars, technical analysis tool and e-books offered for free and available to any trader.

Therefore, the broker has gone ahead and spent some significant amount of money into offering several different trading platforms and trading resources for ensuring the best market access for its clients. CMTrading review presents a company with a strict policy to follow due to the regulations and set of operational rules. Overall, the broker delivers a comprehensive offering to the clients with a good range of account types, powerful educational and support materials with some unique development alike trading signals, copy trading and 1 to 1 trading. Alternative forex broker is Avatrade is also regulated in South Africa and more licenses from various countries and offering better trading conditions as well. https://investmentsanalysis.info/ offers clients its CMTrading Webtrader, catering to manual traders, alongside the out-of-the-box MT4 trading platform, which supports algorithmic trading.

Information about CM TRADING

Analysis material includes a functional economic calendar, highlighting the major events of the day. This is accompanied by a five-minute daily market review every morning before market-open, which highlights potential trading opportunities across the major financial markets for the coming day, and is generally well researched. All the video material is also available on CM Trading’s YouTube channel and is compiled by a team of in-house market analysts.

Seeing that these are all African countries, its reasonable for us to assume that the service in this broker is exclusive for South Africa. The withdrawal methods are shown in logos without more detailed CM Trading information, such as minimum amount, fees and processing time. CopyKat allows you to observe professional traders’ deals and copy them in real-time but also allows for automated copying.

Broker Information

Unlike MT4, Sirix is not popular and traders will not be able to take their own customised version of the trading platform with them if they switch brokers. With an incredibly high deposit of 100,000 USD, traders can open a Premium Account. Like the Gold Account, spreads are 0.9 pips on the EUR/USD, but traders have access to a trading specialist, news and analyses, and other special offers. It is unfortunate that new traders need to have a live trading account to open a demo account, this is not a common requirement with most brokers and will make many beginners traders look elsewhere for a demo account option. As you can see from the table above, in most cases CM Trading’s trading costs are built into the spread – though the two ECN accounts have a relatively high commission in exchange for tighter spreads.

Despite being a relatively newer regulatory organisation, the FSB has formulated several policies and guidelines that are aimed at enhancing investor safety. Security of funds is guaranteed through the segregation of accounts, along with routine auditing requirements that promote financial transparency among companies. Based on our expert research, CMTrading moved its entity to an offshore zone Seychelles since 2019, which provides luck in regulation requirement and can not guarantee a safe trading environment.

I can’t Withdraw money !!!

A true visionary in his field, Ibrahim Abu Aita the CEO and Co Founder of CMTrading is not afraid of a challenge. Whether it’s venturing into a completely new market or experimenting with groundbreaking trading-related services, he is always there at the helm leading his team to excellence. The trading systems range includes the most used as well as the unique features delivered to the clients. HotForex maintains the MT4/MT5 trading platforms, upgraded via its Premium Trader Tools package consisting of twelve plugins plus the Autochartist plugin. VPS hosting for algorithmic traders, high-quality education and research for beginners, and a loyalty program for active traders supplement a competitive core trading environment.

• Spreads start at 1.2 pips, and traders are afforded one risk-free trade and the services of a personal assistant.
• Hence, CM Trading’s FSB licenses are certainly better than investing in any offshore FX brokerage that does not have a regulatory clearance.
• CM Trading offers cryptocurrency and social traders a competitive trading environment, but trading costs are high, representing the most notable drawback.
• Analysis material includes a functional economic calendar, highlighting the major events of the day.
• While ECN accounts are available, this is only at the Gold and Premium tiers, putting them out of reach for most new traders.