CMTrading Review 2024

3.5 / 5
CMTrading is #25 in our CFD broker rankings.

CMTrading is a great choice for traders based in South Africa looking to access highly leveraged forex and CFDs, plus copy trading tools and short-term signals.

- Daytrading Review Team

CMTrading is one of South Africa's leading online day trading brokers, offering trades with leverage up to 1:1000 on the MetaTrader 4 and browser-based Sirix platforms as well as a bespoke copy trading service. The brokerage launched in 2012 and holds a license with South Africa’s Financial Sector Conduct Authority (FSCA).

CMTrading Webtrader, MT4
Forex, CFDs, Indices, Shares, Energies, Metals, Cryptos
Neteller, UnionPay, FasaPay, Skrill, Wire Transfer, Visa, Mastercard, Bitcoin Payments, M-Pesa, Debit Card, Credit Card, Finrax

Forex Trading

Trade 50 forex pairs with floating spreads starting from 2+ pips on the regular account through to a minimum of 0.9 pips on premium ECN accounts. Traders benefit from in-depth forex education resources on CMTrader's academy and from daily signals.

Stock Trading

Trade CFDs on 110 global stocks including Alibaba, Apple and Citigroup with 1:10 leverage and spreads from 0.1. Traders can also speculate on nearly 20 stock indices covering major exchanges in the UK, US, Hong Kong, Japan and Europe. This is a wider selection than most brokers.

CFD Trading

Trade CFDs on forex, shares, indices, energies, metals and cryptocurrencies with variable leverage up to 1:200 and floating spreads. Traders can use the popular MetaTrader 4 platform or try the user-friendly, web-based Sirix, which also delivers real-time trading tips and detailed market forecasts.

Crypto Trading

Trade 23 of the most popular cryptocurrency assets, including BTC, ETH and SOL, in CFD pairs with USD and spreads from 0.02. Traders will not own the underlying tokens with these derivatives.

Copy Trading

The broker's Copykat solution lets clients watch, copy and replicate the success of others traders. Clients can start mirroring positions once they have opened an account with a $250 minimum payment.

✓ Pros

  • The broker supports the powerful MetaTrader 4 platform plus a proprietary Webtrader and a bespoke social trading feature
  • There's a decent array of educational resources for beginners on the online academy
  • Clients can access free short-term forex signals from the broker's platform

✗ Cons

  • Spreads are uncompetitive across accounts compared to competitors
  • The broker's market coverage is limited, including only 100+ stocks
  • There are no additional third-party analysis tools such as AutoChartist

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.

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

3.3 / 5

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.


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.

Top 3 Alternatives to CMTrading

Compare CMTrading with the top 3 similar brokers that accept traders from your location.

  1. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

  2. FP Markets – Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to day traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.

  3. IC Markets – IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

CMTrading Comparison Table

Compare CMTrading With Similar Brokers
CMTrading AvaTrade FP Markets IC Markets
Rating 3.5 4.9 4 4.8
Markets Forex, CFDs, Indices, Shares, Energies, Metals, Cryptos CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
Demo Account Yes Yes Yes Yes
Minimum Deposit $100 $40 $200
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Education Yes Yes Yes Yes
Platforms CMTrading Webtrader, MT4 WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade Iress, MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
Leverage 1:200 1:30 (Retail) 1:400 (Pro) 1:30 (UK), 1:500 (Global) 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
Payment Methods 12 13 15 14
Visit Visit Visit Visit Visit
Review AvaTrade
FP Markets
IC Markets

Compare Trading Instruments

Compare the markets and instruments offered by CMTrading and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare CMTrading Trading Instruments
CMTrading AvaTrade FP Markets IC Markets
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes Yes No
Silver Yes Yes Yes Yes
Corn Yes Yes Yes Yes
Crypto Yes Yes Yes Yes
Futures No Yes No Yes
Options No Yes No No
ETFs No Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No No No No
Spreadbetting No Yes No No
Volatility Index No Yes Yes Yes

CMTrading vs Other Brokers

Compare CMTrading with any other broker by selecting the other broker below.


The most popular CMTrading comparisons:

  1. CMC Markets vs CMTrading
  2. IC Markets vs CMTrading

Customer Reviews

There are no customer reviews of CMTrading yet, will you be the first to help fellow traders decide if they should trade with CMTrading or not?

Submit Your Own Review of CMTrading

If you have experience trading with CMTrading please share your personal review of the broker and what you think are strong and weak points. Thank you.

CMTrading is one of South Africa's leading online day trading brokers, offering trades with leverage up to 1:1000 on the MetaTrader 4 and browser-based Sirix platforms as well as a bespoke copy trading service. The brokerage launched in 2012 and holds a license with South Africa’s Financial Sector Conduct Authority (FSCA).