CMTrading Review 2022

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CMTrading is a South African-based forex and CFD broker with a bespoke copy trading service.

InstrumentsForex, CFDs, indices, shares, energies, metals, cryptocurrencies
Demo AccountYes
Min. Deposit$100
Payment Methods
Min. Trade0.01 lots
Regulated ByFSCA, FSA
MetaTrader 4Yes
MetaTrader 5No
Trading CentralNo
STP AccountNo
ECN AccountYes
DMA AccountYes
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsYes
Margin TradingYes
Volatility IndexNo
Spot TradingYes
Perpetual SwapsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Auto TradingYes
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountYes
Account Currencies
  • USD
  • EUR
  • GBP
  • ZAR
Guaranteed Stop LossNo
Stock Exchanges
CFD TradingTrade CFDs on currency pairs, precious metals and energies, plus indices and shares
CFD FTSE Spread35
CFD GBPUSD Spread2.6
CFD Oil Spread6
CFD Stocks SpreadFrom 0.1
CFD Leverage1:200
Forex TradingTrade on 50 currency pairs with floating spreads
Forex GBPUSD Spread2.6
Forex EURUSD Spread1.5
Forex EURGBP Spread2.6
Forex Assets50
Crypto TradingTrade on the most popular cryptocurrencies, including Bitcoin
Crypto SpreadFrom 0.02
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • ADA
  • BCH
  • BNB
  • BTC
  • DOT
  • ETH
  • LINK
  • LTC
  • MANA
  • SHIB
  • SOL
  • THT
  • TRX
  • UNI
  • VET
  • XDG
  • XEM
  • XLM
  • XMR
  • XRP
Risk Warning – Your capital is at risk

CMTrading is a South African-based forex and CFD broker. Clients can access markets through an MT4 download or the Sirix web trader platform. With multiple live trading accounts available, we unpack reviews of welcome deposit bonuses, withdrawals, spreads, live chat support, and more. Find out whether to register for a CMTrading account today.

CMTrading Headlines

CMTrading was founded in 2012 by a group of international traders. The company has since grown to become the largest online broker in South Africa with headquarters in Johannesburg. Today, the brokerage is trusted by over 1 million retail investors.

The website falls under the umbrella of the Global Capital Markets Trading (GCMT South Africa (PTY) LTD) company. The broker is regulated by South Africa’s Financial Sector Conduct Authority (FSCA).

The online brokerage offers an impressive array of education services for beginners, plus a popular copy trading solution. We cover the firm’s additional tools and services in more detail further below.

Trading Platforms

Traders can access traditional and emerging financial markets through the well-known MetaTrader 4 (MT4) platform or the Sirix web trader interface.


The MT4 platform is available as a free download from the broker’s website. Once you’ve registered for an account and received your login credentials, you can access the platform’s intuitive features.

The fully customizable system allows for one-click executions, limit orders, dozens of technical indicators, multiple chart types and timeframes, plus live analytics. MT4 also allows for automated trading, with self-help tools to build your own robots.

Importantly, MT4 is the most popular online forex platform because it packs all of these features into a simple and user-friendly interface.

How does CM Trading work?
MetaTrader 4


The Sirix platform is an excellent alternative to MT4 if you’re looking for an easy-access web-based system. On top of standard drawing tools and risk management tools, users get real-time trading tips, plus detailed market forecasts and graphical representations.

CMTrading reviews and ratings

Sirix is best suited to new traders looking for standard features in a user-friendly environment.


CMTrading offers 50 forex pairs, from majors to minors and exotics. Also available is CFD trading on close to 20 stock indices, such as the FTSE and Nasdaq, plus shares on large companies, including Apple. In addition, traders can speculate on the price of precious metals, energies, and a handful of cryptocurrencies, such as Bitcoin.

CMTrading stock indices and spreads
Stock Indices

Note, CMTrading does not offer binary options or spread betting.

Spreads & Commissions

CMTrading takes its cut from floating spreads. On major forex pairs, such as the EUR/USD and GBP/USD, spreads are around 1.5 pips and 2.6 pips, respectively. Unfortunately, these aren’t as tight as the spreads found at some other brokers. Still, CMTrading doesn’t charge any additional commissions.

When factoring in costs, traders should also be aware of the $15 monthly inactivity fee charged to unused accounts after three months. Overnight rollover fees are also charged to positions held overnight.


Leverage up to 1:200 is available at CMTrading. Note, leverage levels vary depending on the instrument. For example, when cryptocurrency trading, leverage rates up to 1:5 are available. There is some flexibility around leverage levels on live trading accounts. Speak to customer support to change your account settings

Mobile Apps

Mobile trading is available through the CMTrader MT4 application. The app is compatible with iOS, Android, and Windows devices. The app allows for seamless integration from desktop trading, with one-click execution, real-time quotes, plus mobile alerts and news notifications.

All desktop indicators and charting tools are available on the mobile platform. Customer reviews of the mobile app are mostly positive, praising its range of features and ease of use.

CM Trading inter cash card
CMTrading mobile app

Note, the Sirix web trader platform is also accessible from a mobile browser.

Payment Methods


CMTrading supports a range of funding methods, including:

The minimum deposit is $100. There are no fees for depositing funds into your live trading account. Payments are usually processed on the same working day. Note, the broker has also rolled out a local bank option for residents from Dubai.

Deposits can be made in a number of currencies including ZAR, USD, EUR and GBP.


Deposit and withdrawal methods are the same. To make a withdrawal, select ‘Withdraw’ from your account area and fill in the online request form. The Finance department usually processes payment requests within three working days and will contact you should they need to verify any banking details. The minimum withdrawal is $20.

If funds are withdrawn in a different currency to the one used to deposit, transfer fees are applicable. Withdrawals can be made to your personal account only.

Demo Account

CMTrading offers a free demo account so users can try the platforms and list of instruments. It’s quick and easy to open a demo account with registration taking just a couple of minutes. Once signed up, you will receive your login credentials the same day. You can then download the MT4 platform or try the Sirix web-based interface.

CM Trading ECN Broker

Bonuses & Promotions

CMTrading runs a social media promotion with a potential $250 trading bonus available for liking and sharing the broker’s website on Facebook or Instagram. The broker has also been known to offer no deposit welcome bonuses, so keep an eye on their website and social media channels for news of promotions.

Always check bonus terms and conditions, especially around withdrawals, before you start using an offer.

Regulation & Licensing

CMTrading is a legitimate broker regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The FSCA is the sole regulatory body for financial services in South Africa and only around 100 online trading brokers have a license to operate.

To ensure a safe trading environment for its traders, the broker also segregates client capital from the company’s cash. The firm has also recently obtained regulatory approval from the FSA in the Seychelles.

Overall, we are satisfied that CMTrading is a safe broker and not a scam.

Additional Features

Comments in customer reviews often praise the additional features available at CMTrading. The CopyKat system, in particular, is useful. The social trading program allows you to follow and copy the market’s top 100 traders. Social trading is a great way to learn from experienced traders, particularly if you are new to trading. A CopyKat account can be opened from $250.

Reviews also flag the content-rich education centre that offers videos, webinars, tutorials, PDFs, and ebooks. These are all excellent training resources for forex beginners looking to understand how trading in different markets works. The broker also offers free Flexi Signals to aide decision making, plus an economic calendar.

CMTrading training videos
CMTrading training videos

Account Types

When you sign-up with CM Trading, there are four live account options:

Essentially, the more you deposit, the tighter the spreads and more trading tools you will have access to.

CMTrading also offers an Islamic account compliant with Sharia law.

Note, CMTrading is not a market maker.


Client testimonials highlight several benefits to opening an account with CMTrading:


Downsides to CMTrading’s offering include:

Trading Hours

Trading hours follow the respective opening and closing times of different markets. For example, forex can be traded around the world 24/5 due to differences in timezones. As one region’s trading window closes, another opens. There are, however, optimal periods to trade within the 24 hour window. Cryptocurrencies such as Bitcoin are also traded in decent volumes over the weekend.

See the broker’s website for instrument-specific trading hours.

Customer Support

The CMTrading customer support team can be contacted via:

We would recommend the live chat support as your first point of contact. Agents are quick to respond and able to help with registration queries, withdrawal problems, and account questions. The customer support team is open 08:00 GMT+3 Monday through to 21:00 GMT+3 Friday. Should chat support be closed, there is an online query form.

Customer support is offered in English, Arabic and Greek.

See CMTrading’s social media channels to keep up with the latest product news:

Note, the address for the broker’s offices can be found on the CMTrading website.

Trader Security

The broker keeps client connections safe through a Secure Sockets Layer (SSL). The MT4 platform also uses a one-time-password as an additional layer of security. Overall, the broker follows all the usual security protocols.

CMTrading Verdict

CMTrading is one of the leading online forex and CFD brokers based in South Africa. Equipping clients with a free MT4 platform download, the Sirix WebTrader system, plus daily forex signals and a rich education centre, the broker has a lot to offer. CMTrading is a particularly good fit for beginners to intermediates looking for low minimum deposit requirements and useful trading aides with regulatory oversight.

Accepted Countries

CMTrading only accepts traders from South Africa, Kenya, Nigeria, Ghana, Lesotho, Botswana, Namibia, Tanzania, United Arab Emirates, Bahrain, Kuwait, Qatar.

Alternatives to CMTrading

If you are looking for alternatives to CMTrading we have compiled a list of the top 5 brokers that are similar to CMTrading below. This list of brokers like CMTrading is in order of similarity and only includes companies that accept traders from your location.

  1. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  2. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
  3. – boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
  4. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  5. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.


Is CMTrading A Scam?

CMTrading is a legitimate online broker with a license from South Africa’s Financial Sector Conduct Authority (FSCA). The brokerage is relatively safe to deposit funds and trade with. With that said, there is always a risk of losing money when online trading.

What Trading Platform Does CMTrading Use?

CMTrading offers all clients a downloadable MT4 platform plus a web-based Sirix platform. Both facilitate trading on forex and CFDs. User guides are also available on the broker’s website.

What Is The Minimum Deposit At CMTrading?

Clients will need to deposit a minimum of $250 to open an account and trade with CMTrading. Note, minimum deposit requirements increase as you move up account levels.

How Do I Withdraw Funds From CMTrading?

To withdraw profits, head to your account area, and select ‘Withdraw’. You will then need to fill in an online request form that will go to the Finance department. Withdrawal requests can take up to three working days to be processed.

Who Owns CMTrading? is owned by Global Capital Markets Trading South Africa Proprietary Limited, whose headquarters are in Johannesburg.

CMTrading is a South African-based forex and CFD broker with a bespoke copy trading service.

CMTrading vs Other Brokers

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