CMTrading is an online broker that is regulated by the FSCA in South Africa.
Owned & operated by GCMT South Africa (PTY) LTD, they are located at: 14th Floor, Sandton City Office Tower 9, Corner Rivonia Road and 5th Street, Sandton, Johannesburg, 2196, South Africa. Contact phone number is: +27105008026, and customer service email address is: [email protected].
Official broker website is at: https://www.cmtrading.com/.
Our review of CMTrading find that their traders can use a variety of trading platforms including; MetaTrader 4, Panda TS which is mobile optimized. For mobile trading they have the MT4 App, available for iOS and Android. Last year in January 2022, they switched from the Sirix trading platform to the new Panda trading platform.
Margin Rates / Leverage offered on Forex trading is as high as 200:1. The leverage on commodity CFDs, i.e. Gold, Brent and Crude Oil, Sugar, and Natural Gas is 100:1. It is important for a new day trader to know, that trading with leverage is very risky. The assets available for trading include all major Forex pairs, CFD’s on Crypto, Stock Indices, Commodities and Metals.
Investors who want risk free trades and a CMT debit card for easier withdrawals, can open a standard account with a minimum of $1,000. The new minimum deposit required for a trading account is now only $100, register here.
Social Trading App
The most popular trading signals nowadays are copy trading or what some brokers call social trading.
At CMTrading, the feature is available in their Panda web based trading platform and it is called COOMA. There are a wide range of traders to copy and follow. When researching a trader to copy, it is important to understand that the results you see of their performance does not include open trades.
For example, we saw a trader with 836% returns! When you look at his open positions, there are a bunch of losers that haven’t been closed. So it was probably someone trading a demo account.
Is CMTrading a Legit Broker?
Yes, CMTrading is a licensed and regulated Forex broker.
When you review an online broker to see if they are a scam or a legitimate broker, the first this to do is check for a valid brokerage license. Many South African traders have had problems using unlicensed brokers, and it is nice to see a broker that is safe for Forex traders in South Africa.
- GCMT SOUTH AFRICA PTY LTD is trading as CM TRADING, with Registration # 2013/045335/07. They are regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. Their FSCA license number is FSP 38782, under the corporate name Blackstone Marketing SA (PTY) Ltd. Client funds are held in segregated accounts.
- GCMT LTD is a Securities Dealer registered in Seychelles, registration # 8425982-1. They are licensed by the Financial Services Authority (FSA), number SD070. Address: Block B, No. 6, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.
Compare Licensed Brokers
Traders should always compare their broker with other Forex brokers here.