CM Trading Review

Overall, CM Trading has a trust score of 90 out of 100 being trusted by more than 1 million traders. CM Trading is regulated by the FSA and the FSCA. They offer instant access to MT4 with personalised 1 on 1 support sessions.

CM Trading Nigeria at a Glance

🏛️ Headquartered	South Africa
🏛️ Nigerian Based Office	No
👍 Accepts Nigerian Traders?	Yes
📅 Year Founded	2012
📱 Nigerian Office Contact Number	None
⚖️ Regulation	FSA, FSCA
🔎 License Number	Seychelles – SD070 South Africa – 2013/045335/07 and FSP 38782
⚖️ CBN Regulation	None
✴️ Regional Restrictions	The United States, Hong Kong, Israel, EU regions
☪️ Islamic Account	Yes
📈 Demo Account	Yes
📈 Retail Investor Accounts	4
📊 PAMM Accounts	No
📊 Liquidity Providers	Anonymous
💰 Affiliate Program	Yes
📊 Crypto trading offered?	Yes
🚀 Offers a Nigerian Account?	No
💻 Dedicated Nigerian Account Manager?	No
📈 Maximum Leverage	1:200
📈 Leverage Restrictions for Nigeria?	No
💳 Minimum Deposit (₦)	41,700 Nigerian Naira (equivalent to $100)
💳 Nigerian Naira Deposits Allowed?	Yes
💰 Active Nigerian Trader Stats	1.3 million
📈 Active Nigerian-based CM Trading customers	Unknown
💰 Nigeria Daily Forex Turnover	370,000+
💳 Deposit and Withdrawal Options	Bank Wire Transfer Bank Transfer OZOW Electronic Fund Transfer (EFT) Skrill Neteller Credit Card Debit Card MPesa Local Mobile Money Cryptocurrencies
💰 Segregated Accounts with Nigerian Banks?	No
💻 Trading Platforms	MetaTrader 4, CM Trading Web, CopyKat, Expert Advisors, Trading apps
💰 Tradable Assets	• Currency trading • Stocks • Indices • Cryptocurrencies • Commodities • CFDs
🌐 Offers USD/NGN currency pair?	No
🌐 USD/NGN Average Spread	N/A
📈 Offers Nigerian Stocks and CFDs	None
👨‍💼 Languages supported on Website	English, Arabic
👥 Customer Support Languages	Multilingual
👥 Customer Service Hours	24/5
👥 Nigerian-based customer support?	No
💰 Bonuses and Promotions for Nigerians	None
✴️ Education for Nigerian beginners	Yes
📊 Proprietary trading software	Yes
💰 Most Successful Nigerian Trader	Uche Paragon ($20 million net worth)
✔️ Is CM Trading a safe broker for Nigerians?	Yes
✔️ Rating for CM Trading Nigeria	8/10
✔️ Trust score for CM Trading Nigeria	91%
👉 Open an account	👉 Open Account

CM Trading Review – 15 key points quick overview:

1. ✅CM Trading Overview
2. ✅CM Trading Regulation and Safety of Funds
3. ✅CM Trading Account Types and Features
4. Account Registration
5. CM Trading VS Exness VS Tickmill – Broker Comparison
6. Trading Platforms
7. CM Trading Range of Markets
8. CM Trading Broker Comparison for Range of Markets
9. CM Trading Trading and Non-Trading Fees
10. CM Trading Deposits and Withdrawals
11. CM Trading Education and Research
12. CM Trading Affiliate Program
13. Verdict on CM Trading
14. CM Trading Pros and Cons
15. Frequently Asked Questions

CM Trading Overview

👉 While CM Trading does not have regulation through the Central Bank of Nigeria (CBN), it is a trusted and reputable online broker that Nigerian traders can trust. We will reveal all the ins and outs of CM Trading operating in Nigeria. From how to log in to how to register as a trader to an affiliate. 

👉 CM Trading is based in South Africa and does not feature local offices in Lagos, Nigeria, which means that Nigerian traders must contract the South African branch for customer service and support.

🥇 CM Trading has been in operation since 2012 and its marketing activities are carried out through Blackstone Marketing Pty Ltd in South Africa. There is a choice between retail investor accounts offered, suited to different types of traders according to their skill and experience.

👉 There is also a range of educational material offered, helpful trading tools, and powerful trading platforms through which trading and other activities can be carried out.

👉 This CM Trading review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.

Distribution of Traders

The distribution of traders for CM Trading is as follows:

➡️️​ Nigeria – 37.74%

➡️️​ South Africa – 27.57%

➡️️​ Kenya – 16.95%

➡️️​ Bulgaria – 3.68%

➡️️​ Switzerland – 2.29%

Popularity among traders who choose CM Trading

🥇 CM Trading has an exceptionally large market share in Nigeria, with over 37% of its clients originating in the country, this places CM Trading in the top 3 brokers for Nigerian traders.

CM Trading Regulation and Safety of Funds

👉 CM Trading is a fully licensed broker that aims to ensure that its trading platforms are secure, safe and that there are transparent conditions offered to all traders. CM Trading operates through the following entities:

➡️️​ GCMT South Africa Pty Ltd, which is trading as CM Trading, is registered under 2013/045335/07. In addition, this entity is a representative and an agent of Blackstone Marketing Pty Ltd, which is registered under 2010/010099/07 with Financial Service Provider (FSP) number 38782.

➡️️​ GCMT Limited trades as CM Trading and is a licensed Securities Dealer that is registered in Seychelles. CM Trading is registered under 8425982-1 and is regulated by the Financial Services Authority (FSA) in Seychelles, under license number SD070.

👉 The Financial Sector Conduct Authority (FSCA) is a respected and well-established market regulatory and regulatory authority in Africa. It is the only regulatory body for financial institutions in South Africa that covers banks, retirement funds, administrators, insurers, and all market infrastructures, ensuring that consumers are protected.

👉 CM Trading has been regulated by the FSCA since 2012 and this license and regulation can be verified by Nigerian traders when they visit the official FSCA website.

👉 In addition to the FSCA regulation, CM Trading obtained FSA regulation in 2021, striving to provide quality trading services in this region to beginner traders and professional investors.

CM Trading Account Types and Features

👉 CM Trading offers some of the best trading conditions in the industry, distributed across four unique retail investor accounts. Each of these accounts serves to provide different traders with unique trading conditions and features that will suit their trading needs and objectives.

The account types that CM Trading offers are:

➡️️​ Bronze Account

➡️️​ Silver Account

➡️️​ Gold Account

➡️️​ Premium Account

Live Trading Accounts

✅ Bronze Account

👉 The Bronze Account offered by CM Trading is an entry-level account that has the following unique features.

Account Feature	Value
💳 Minimum Deposit	41,700 Nigerian Naira equivalent to $100
💳 Maximum Deposit	416,500 Nigerian Naira equivalent to $999
📊 Demo Account	Yes
📈 Educational materials	Yes, Trading eBook, Webinars
✴️ Market Reviews	Yes
📈 Spreads from	Regular spreads
🔎 Live Trading Signals	No
📊 Risk-Free Trades offered	No
🎓 Personal Assistant offered?	No
📈 Trading Central Trading Signals	No
👨‍💼 Trading Central Live Trading Signals	No
🚀 Cashback Rebates	No
🔎 Access to ECN?	No
📊 Market News and Analysis For Fundamental Analysis	No
📈 Special Offers	No
✅ Dedicated Trading Room	No
📊 Trading specialist offering investment advice	No

✅ Silver Account

👉 The Silver Account is one of CM Trading’s most popular options because it is suited to most types of traders.

Account Feature	Value
💳 Minimum Deposit	417,000 Nigerian Naria equivalent to $1,000
💳 Maximum Deposit	4,169,682 Nigerian Naira equivalent to $9,999
📊 Demo Account	Yes
📈 Educational materials	Yes, Trading eBook, Webinars
✴️ Market Reviews	Yes
📈 Spreads from	1.2 pips EUR/USD
🔎 Live Trading Signals	Yes
📊 Risk-Free Trades offered	1 Risk-Free Trade
🎓 Personal Assistant offered?	Yes
📈 Trading Central Trading Signals	Yes
👨‍💼 Trading Central Live Trading Signals	Yes
🚀 Cashback Rebates	No
🔎 Access to ECN?	No
📊 Market News and Analysis For Fundamental Analysis	No
📈 Special Offers	No
✅ Dedicated Trading Room	No
📊 Trading specialist offering investment advice	No

✅ Gold Account

👉 The Gold Account offers some of the best trading conditions to active traders, high-frequency traders, expert advisors, algorithmic traders, and other short-term, competitive traders.

Account Feature	Value
💳 Minimum Deposit	4,170,000 Nigerian Naira equivalent to $10,000
💳 Maximum Deposit	41,700,000 Nigerian Naira equivalent to $99,999
📊 Demo Account	Yes
📈 Educational materials	Yes, Trading eBook, Webinars
✴️ Market Reviews	Yes
📈 Spreads from	0.9 pips
🔎 Live Trading Signals	Yes
📊 Risk-Free Trades offered	3 Risk-Free Trades
🎓 Personal Assistant offered?	Yes
📈 Trading Central Trading Signals	Yes
👨‍💼 Trading Central Live Trading Signals	Yes
🚀 Cashback Rebates	Yes
🔎 Access to ECN?	Yes
📊 Market News and Analysis For Fundamental Analysis	No
📈 Special Offers	No
✅ Dedicated Trading Room	No
📊 Trading specialist offering investment advice	No

✅ Premium Account

👉 The Premium Account is dedicated to professional traders who want the most from their trading account. This account has the best features and options available.

Account Feature	Value
💳 Minimum Deposit	41,700,000 Nigerian Naira and more (equivalent to $100,000+)
💳 Maximum Deposit	None
📊 Demo Account	Yes
📈 Educational materials	Yes, Trading eBook, Webinars
✴️ Market Reviews	Yes
📈 Spreads from	0.9 pips
🔎 Live Trading Signals	Yes
📊 Risk-Free Trades offered	3 Risk-Free Trades
🎓 Personal Assistant offered?	Yes
📈 Trading Central Trading Signals	Yes
👨‍💼 Trading Central Live Trading Signals	Yes
🚀 Cashback Rebates	Yes
🔎 Access to ECN?	Yes
📊 Market News and Analysis For Fundamental Analysis	Yes
📈 Special Offers	Yes
✔️ Dedicated Trading Room	Yes
📊 Trading specialist offering investment advice	Yes

✅ Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.

👉 There is a certain degree of risk involved when trading financial markets and CM Trading offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

✅ Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

👉 CM Trading is a forex broker that is compliant with all requirements surrounding Sharia law as well as the principles of Islamic Finance. CM Trading offers swap-free trading accounts that are exempted from swap charges and rollover interest when Muslim traders hold positions overnight.

👉 In addition, Muslim traders are only given access to financial instruments that are Shariah-compliant, which means that cryptocurrencies and stocks are not available for trading when using an Islamic swap-free account.

Account Registration

👉 To register an account with CM Trading, Nigerian traders must complete a short online form. Once the application has been completed, traders must verify their email addresses and provide proof of their identity and proof of residence.

👉 Once the information and documents have been verified, the account will be approved, and traders can fund their account using the flexible deposit options provided by CM Trading.

CM Trading VS Exness VS Tickmill – Broker Comparison

	ACY Securities	CM Trading	RoboForex
💰Forex	Yes	Yes	Yes
🔨 Precious Metals	Yes	Yes	No
💰 ETFs	Yes	No	Yes
📊 CFDs	Yes	Yes	No
📈 Indices	Yes	Yes	No
💵 Stocks	Yes	Yes	Yes
💳 Cryptocurrency	Yes	Yes	Yes
💰 Options	No	No	Yes
💸 Bonds	Yes	No	Yes
🔋 Energies	Yes	No	Yes

Trading Platforms

👉 CM Trading offers the following trading platforms:

➡️️​ MetaTrader 4

➡️️​ CM Trading Web

➡️️​ CopyKat

➡️️​ Expert Advisors

➡️️​ Trading apps

✅ MetaTrader 4

👉 CMTrading’s MetaTrader 4 platform has been completely integrated into the broker’s service portfolio, enabling customers to experience trading as it should be, including tight spreads, no requotes, and market execution. MetaTrader 4 is the appropriate platform for all trading strategies despite the account type that traders use.

👉 It gives assistance and all the tools necessary to properly trade utilizing expert advisors and permits trading methods such as hedging, algorithmic trading, auto trading, or scalping. These are crucial aspects in completing effective trade execution utilizing Technical Analysis without delay.

👉 Traders who have developed their own expert advisors can easily integrate them into CM Trading’s MetaTrader 4. Alternatively, advanced traders can develop expert advisors using MetaTrader 4’s programming language.

👉 MetaTrader 4’s programming language also permits the development and modification of custom-made indicators and a wide range of advanced charting tools.

✅ CM Trading Web

👉 For currency traders, CMTrading WebTrader is a significant change because it enables them to trade from their mobile devices such as smartphones and tablets without having to download or install any software.

✅ CopyKat

👉 CM Trading’s proprietary CopyKat trading platform is suited to beginner and professional traders who want to copy the trading strategies of successful traders. With CopyKat, traders can follow expert traders and copy their trades to their own trading accounts.

👉 Every time these successful traders trade, the trades will take place on the account of the trader and when these traders make a profit, so will the trader.

 

✅ Expert Advisors

👉 MetaTrader 4’s expert advisors (EA) facilitate automated trading. The MQL programming language, developed specifically for automated trading, is used to generate EAs.

👉 There are numerous pre-existing classes and methods in the robust computer language that traders may use to swiftly build and implement new trading techniques. Meta Editor is also supplied with each MT4 platform. The Meta Editor is a compiler that has been designed expressly to be used by this MQL programming language.

✅ Trading Apps

👉 CM Trading offers iOS mobile device users the opportunity to access the proprietary WebTrader when they download and install it to their devices. The CM Trading app helps traders analyse currencies, access real-time data, and place orders.

👉 Any economic news release that occurs throughout a normal 24-hour trading day may have a significant impact on the main currency pairs in the forex trading sectors. Having access to conversations, quotations, market news, and their retail investor accounts from anywhere and at any time is a big plus for skilled and active currency traders.

👉 This is the primary reason why forex trading software has grown so popular. All the well-known forex brokers provide their customers with mobile apps, and CM Trading is no exception.

CM Trading Range of Markets

👉 CM Trading offers the following range of tradable instruments:

➡️️​ Currency trading

➡️️​ Stocks

➡️️​ Indices

➡️️​ Cryptocurrencies

➡️️​ Commodities

➡️️​ CFDs

CM Trading Broker Comparison for Range of Markets

	Exness	CM Trading	Tickmill
➡️️​ Forex	Yes	Yes	Yes
➡️️​ Precious Metals	Yes	Yes	Yes
➡️️​ ETFs	No	No	No
➡️️​ CFDs	Yes	Yes	Yes
➡️️​ Indices	Yes	Yes	Yes
➡️️​ Stocks	Yes	Yes	Yes
➡️️​ Cryptocurrency	No	No	Yes
➡️️​ Options	No	No	No
➡️️​ Energies	Yes	Yes	Yes
➡️️​ Bonds	No	No	Yes

CM Trading Trading and Non-Trading Fees

Spreads

👉 The spreads that traders can expect from CM Trading will depend on what they trade, the retail investor account they use, and what the market conditions are on the day of trading. The typical minimum spreads that traders can expect include:

➡️️​ Bronze Account – Regular spreads

➡️️​ Silver Account – 1.2 pips EUR/USD

➡️️​ Gold Account – from 0.9 pips EUR/USD

➡️️​ Premium Account – from 0.9 pips EUR/USD

Overnight Fees, Rollovers, or Swaps

👉 When Nigerian traders keep their positions open for longer after the trading day has passed, they may incur overnight fees. These rates are determined by the position that traders hold, the financial instrument they trade, and their position size.

To determine the overnight fees on positions, traders can use the following formula:

➡️️​ The overnight fees = Duration of the position/number of nights x Swap (buy or sell) x No of Lots x Point value

Deposit and Withdrawal Fees

👉 CM Trading charges deposit fees when traders use cryptocurrencies to fund their accounts. Withdrawal fees are applied to the following withdrawal methods:

➡️️​ Bank Wire Transfer – 2%

➡️️​ Bank Transfer – 2%

➡️️​ OZOW – 2%

➡️️​ Electronic Fund Transfer (EFT) – 2%

➡️️​ Skrill – 2%

➡️️​ Neteller – 2%

➡️️​ Credit Card – 2%

➡️️​ Debit Card – 2%

➡️️​ MPesa – 2%

➡️️​ Local Mobile Money – 2%

➡️️​ Cryptocurrencies – 4%

CM Trading Deposits and Withdrawals

👉 CM Trading offers the following deposit and withdrawal methods:

➡️️​ Bank Wire Transfer

➡️️​ Bank Transfer

➡️️​ OZOW

➡️️​ Electronic Fund Transfer (EFT)

➡️️​ Skrill

➡️️​ Neteller

➡️️​ Credit Card

➡️️​ Debit Card

➡️️​ MPesa

➡️️​ Local Mobile Money

➡️️​ Cryptocurrencies

CM Trading Education and Research

👉 CM Trading offers the following educational materials:

➡️️​ eBooks

➡️️​ Training Videos

➡️️​ Webinars

➡️️​ Live Seminars

👉 For those who want to learn about the fundamentals of trading, CM Trading’s eBooks are an excellent source of information. Financial markets, strategy, psychology, money management, technical analysis, and more are all discussed.

👉 There are two different areas for introductory courses and in-depth courses provided by CM Trading in addition to eBooks. These well-illustrated videos provide a wealth of information about trading. Trading platforms, trading tools, and social trading are some of the topics covered in this course.

👉 CM Trading sometimes offers free webinars that traders can sign up for, but they are infrequent. Participating in online trader chats is a great way to broaden your trading horizons. Traders can also view previous webinars on the official CM Trading website.

👉 In terms of research tools, CM Trading offers the following options to advanced traders:

➡️️​ Daily Market Reviews

➡️️​ Trading Signals

➡️️​ Economic Calendar

➡️️​ Calculators

➡️️​ Fundamental Analysis

➡️️​ Technical Analysis

CM Trading Affiliate Program

👉 CM Trading offers a comprehensive parentship program that offers the following:

➡️️​ Quick pay-outs and complete transparency

➡️️​ Dedicated customer service and support

➡️️​ A personal manager

➡️️​ An FSCA-regulated environment

➡️️​ Attractive and flexible commission schemes

➡️️​ Fresh, localized marketing material

➡️️​ A high conversion rate

👉 In addition, CM Trading also offers a loyalty program that can be divided into the following tiers:

➡️️​ Bronze – with competitive plans, certificate of achievement, online marketing tools, IB starter pack, and free webinar hosting.

➡️️​ Silver offers access to all the benefits in the Bronze Tier along with a personal business developer, marketing budgets, and promotional material.

➡️️​ Gold offers access to the same benefits as Bronze and Silver in addition to extra targets commissions, customized marketing material, exclusive business cards, custom-built websites, and the attendance of CM Trading at events.

➡️️​ The Platinum tier is the highest and offers unrestricted access to exclusive tools as well as promotions, professional guidance, financial advice, and assistance.

Verdict on CM Trading

👉 CM Trading is a South-African online trading broker that offers a wide range of trading instruments spread across several financial markets. CM Trading offers online trading that caters for traders despite their trading experience, skill, or unique trading style, making it ideal for Nigerian traders.

👉 CM Trading offers MetaTrader 4, which is a popular trading platform, WebTrading, and mobile trading apps that can be used to keep traders updated while they are on the move. In addition, the proprietary mobile app has the same functions as the CM Trading web-based platform.

👉 CM Trading offers commission-free trading despite the type of trading account traders use and there are a plethora of trading tools offered including daily market review, market trends, market volatility indicators, and other powerful features.

👉 CM Trading has a dedicated customer support team that offers professional guidance in all matters relating to the trading industry. CM Trading also offers several payment methods and deposit currencies, allowing traders to deposit in their local currency.

👉 While deposit fees are only charged on crypto payments, CM Trading applies withdrawal fees to all withdrawal options, which is a drawback.

CM Trading Pros and Cons

✔️ Pros	❌ Cons
Axi is a multi-regulated and award-winning CFD and forex broker	There are inactivity fees charged
The platforms are user-friendly and available across devices	There is limited leverage offered to retail clients
Nigerians can deposit funds in Nigerian Naira using local deposit methods	Deposit and withdrawal fees can be applied
There are no account fees charged	There is only one trading platform offered
AutoChartist, MetaTrader 4 NextGen, and PsyQuation are offered	The demo account expires after 30 days
There is a comprehensive trading academy provided
There is an active and helpful Axi community provided
Signal providers and free VPS is offered

Frequently Asked Questions

What is the overall rating for CM Trading out of 10?

Our review of CM Trading reveals that the overall rating is 8/10.

What is the minimum deposit required to register an account with CM Trading?

41,700 Nigerian Naira (equivalent to $100).

Is CM Trading regulated and by whom?

Yes, CM Trading is well-regulated by FSA and FSCA.

Is CM Trading suitable for beginner and professional traders?

Yes, CM Trading is suitable for novice traders and professional traders.

Can CM Trading trade forex on my behalf?

No this broker cannot trade on your behalf, but their trading specialists stand ready to offer you their full support and trading tools to make the best trading decisions.