CM Trading established a great reputation among its clients in Africa and is recognized as a trustworthy broker worldwide.
However, despite its regulations and outstanding platform features, problems arose from its clientele feedback and a warning from Nigeria’s Securities and Exchange Commission (SEC).
This TRU insight offers a comprehensive review of CM Trading, including its platform fees, trading platforms, and safety features.
An Overview of CM Trading
Located in Johannesburg, South Africa, Global Capital Markets Trading South Africa Proprietary Limited (GCMT SA), which trades as “CM Trading,” is a well-regulated broker founded in 2012.
Company Details
| Company Name | BLACKSTONE Marketing SA(PTY)LTD |
| Founded on | 2013 |
| Website Language | English, Arabic |
| Support Language | English, Arabic |
| Office Location | South Africa, Mauritius, Israel |
Despite its regulations, CM Trading comes with a few drawbacks. While it offers six accounts on two separate trading platforms, CM Trading minimum deposit and trading costs are also higher compared to those of other brokers.
It also charges higher withdrawal fees and deposit fees than other brokers, which, when combined with currency conversion fees, may not be favorable for some traders.
On the bright side, CM trading has a trained customer service team that offers one-on-one trading and platform support.
The table below sums up its main advantages and disadvantages:
| Pros | Cons |
| – Beginner-friendly – Copy trading accounts – Great customer support | – Local regulation only – Expensive withdrawals |
Account Information
Our experts also found that, although CM Trading offers a good range of forex pairs for trading, the broker has a limited selection of cryptocurrencies and equities.
Nonetheless, here is some information about CMTrading’s account:
| Base Currencies | EUR, USD |
| Number of Forex Pairs | 50 |
| Number of Crypto Pairs | 23 |
| Copy Trading | Yes |
| Hedging | Yes |
| Scalping | Yes |
| Islamic Account | Yes |
Financial Assets
Compared to several other brokers, CM Trading offers a similar range of assets to trade, but with a greater number of cryptocurrencies available.
Here is detailed information on CM Trading’s financial assets:
| Instrument | Number of Assets | Leverage |
| Commodities | 15 | 100:1 |
| Cryptocurrencies | 23 | 5:1 |
| Forex | 50 | 200:1 |
| Stock CFDs | 95 | 20:1 |
| Indices | 17 | 50:1 |
| Metals | 7 | 50:1 |
Deposit and Withdrawal
After registering and successfully accessing the CM Trading login, you can start depositing funds through the CM Trading client portal.
Our experts have tested the acceptable payment methods for CM Trading, and the following is a comparison of these methods.
Note: All payment methods accept funds in EUR and USD. Funding your account in a currency other than the base currency will incur a margin at an exchange rate determined by CM Trading.
| Payment Method | Deposit Fees | Withdrawal Fees |
| Bank Transfer | Market rate plus 2% | Market rate minus 2% |
| Mastercard | Market rate plus 3% (concerning all deposits by debit/credit cards) | Market rate minus 4% (pertaining to all withdrawals) |
| Visa | Market rate plus 3% (related to all deposits by debit/credit cards) | Market rate minus 4% (pertaining to all withdrawals) |
| Fasapay | Unpublished | Withdrawals not allowed |
| Neteller | Unpublished | Withdrawals not allowed |
If you’re wondering how long each payment method takes, our experts tested each method and found that the duration for each method is as follows:
| Payment Method | Processing Time |
| Bank Transfer | Local bank transfer is completed within 24 hours, while international bank transfers take up to five days |
| Mastercard | Instant deposits, but withdrawals take up to three days |
| Visa | Instant deposits, but withdrawals take up to three days |
| Fasapay | Instant deposits, but withdrawals are not allowed |
| Neteller | Instant deposits, but withdrawals are not allowed |
Overall, our experts note that CM Trading’s deposit and withdrawal processes are poor compared to those of other brokers.
Trading Tools
Among the features unique to CMTrading are its trading tools:
CopyKat
The web version of CMTrading, the CM WebTrader platform, offers access to its copy trading tool: CopyKat.
CopyKat enables traders to view professional traders’ trading strategies and replicate them in real-time. Traders can also benefit from automated copying.
Overall, the CopyKat system is user-friendly and supports one-click trading.
Guardian Angel
Our experts found that CMTrading operates a Smart Communication System for its customers, known as Guardian Angel.
This trading tool offers support and direct messages regarding market trends, highlighting market volatility indicators. It also provides a stop loss calculator and automated feedback on how traders execute trades.
Trading Platforms
CM Trading offers trading platforms for both mobile and desktop use:
CM Trading Web Trader
The web version of CMTrading has more functionality than its mobile version, but some traders may find it limiting. According to our expert partners, among the limited features of the CM Trading Web Trader are:
- Trader sentiment display
- Nine timeframes
- Six chart types
- Multiple indicators
Unlike MT4, this web version does not offer advanced features such as automated trading and does not support third-party tools.
What our experts find interesting is that the Web Trader allows traders to copy trades using the CopyKat system.
MetaTrader 4
CM Trading offers an MT4 platform, so traders can take a customized version of the platform if they wish to migrate to another broker.
Although CM Trading offers MT4 both as a desktop and mobile app, our experts note that there is some loss in functionality in the mobile trading platform, such as reduced time frames and fewer charting options.
On the bright side, traders can close and alter existing orders, trade on charts, and calculate profits and losses.
Learn about MetaTrader 4 here: What is MetaTrader 4 (MT4) – TradersUnited
CM Trading App
CM Trading only recently launched its mobile trading app. Upon testing the app, our experts found that downloading and setting up is easy, but it has limited functionality compared to apps tested previously.
The main things you can do within the app are:
- Basic trading on charts
- Account management
- Fund withdrawal and deposit
Although you can also set stop-loss and take-profit levels, as well as open and close positions, no research is available on the app.
Some other cons of the app that our review experts found are:
- does not sync with the trader’s MT4 account
- does not have algorithmic trading functionality
- not customizable
CM Trading Review
Our trading expert partners evaluated CM Trading based on key factors, such as fees and trading regulations. Below are these features:
Safety and Regulation: 3.5/5
According to our experts, traders should prioritize broker safety and regulation above all else. Hence, they researched CM Trading’s current regulation and found that two top-tier regulatory bodies are currently overseeing the broker:
| Regulator | Jurisdiction | License No. |
| Financial Sector Conduct Authority (FSCA) | South Africa | 38782 |
| Seychelles Financial Services Authority (FSA) | Seychelles | SD070 |
Here’s how CM Trading ensures client funds security:
- Segregation of client funds from operating capital in South African banks
- Frequent auditing of finances and client operations
- Stop-out levels are set at 50%, making it unlikely for trading accounts to fall into negative balances
On the other hand, our experts found that CM Trading does not have negative balance protection.
Moreover, South Africa’s FSCA and Seychelles’ FSA do not offer the same consumer protection level as top regulators, such as:
- Financial Conduct Authority (FCA)
- Australian Securities and Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
Although FSCA and FSA offer some client protection, brokers with top-tier regulations provide more robust investor compensation schemes and stricter compliance standards.
User Trust: 2.7/5
Our expert review partners gave CMTrading a 2.7-star rating, as their research suggests that the broker is averagely trusted.
Based on their observation, the most common negative experiences that CMTrading users express on review sites are the following:
- Loss of funds
- Persistent calls from individuals or managers to persuade traders to replenish deposits or to invest in general
- High costs and spreads
- Lengthy withdrawal time
- Additional document requests upon withdrawal
- Arrogant customer service personnel
- Unrealistic bonuses
- Ineffective copy trading
On a more positive note, CM Trading has expanded its presence in South Africa and the Middle East since commencing operations in 2012.
Fees and Costs: 2.6/5
Although CM Trading offers a wider range of account types than other brokers, it has high minimum deposit requirements and trading costs.
Our experts found that the broker’s trading accounts have higher minimum deposits compared to similar accounts from other brokers. It also doesn’t provide the low ongoing trading costs that adept traders would search for.
According to our experts, spreads at CMTrading are also wider than average. To demonstrate, other brokers trade one EUR/USD lot for approximately $9 each.
However, a trader can only purchase the same lot with Gold and Premium Accounts, which are extremely expensive for most traders, given that they require a CM Trading minimum deposit of $10,000 and $100,000, respectively.
Warning Against CMTrading
In an article published on June 21, 2025, the Securities and Exchange Commission (SEC) in Nigeria issued a warning regarding the CM Trading platform.
According to the regulator, the platform was not registered and is deemed unfit to offer trading and financial services to residents in Nigeria.
The SEC stated that CMTrading reportedly claimed to be affiliated with GCMT South Africa Pty Ltd, which the FSCA and FSA allegedly licensed as a securities dealer.
According to the commission, the platform is not registered to solicit investments or operate in any capacity in the country’s capital market.
The commission encouraged traders to exercise caution when investing with CM Trading and to verify the registration of any investment platform to protect themselves from fraudulent entities.
Should You Trade with CM Trading?
Although CMTrading promises a unique and robust investment platform, several users have advised against using it.
Whether CM Trading is legit or not will always depend on how skillful you are at managing risks. Forex trading, by its nature, is inherently high-risk and speculative; therefore, it may not be suitable for all investors.
Since it’s inevitable for you to sustain losses, you should not invest funds that you cannot afford to lose.
To help you stay aware of the risks and learn some effective ways to apply expert risk management tactics, our seasoned traders at CommuniTrade are here to help.
FAQs
Is CM Trading legit?
The broker is legitimate and regulated by the FSCA and FSA. Although it may not offer the same robust consumer protection as other brokers overseen by top-tier regulators, such as ASIC and the FCA, CM Trading’s regulation, established market presence, and diverse trading instruments strongly suggest that it is not a scam.
Is CM Trading suitable for new traders?
Thanks to its comprehensive educational resources (i.e., webinars and video courses), CM Trading proves to be suitable for beginners as it is designed to teach the basics of trading.
Its proprietary platform makes it easy for novice traders to navigate and conduct trades. The availability of free demo accounts also allows traders to practice their strategies and familiarize themselves with the trading process without risking real capital.
How to Start CMTrading?
Below is CM Trading’s very own beginner trading checklist to help you get started:
- Identify your trading style
- Set clear financial goals
- Choose the right trading platform and broker
- Practice with a demo account
- Learn Technical and Fundamental Analysis basics
- Set a budget and develop a risk management strategy
- Develop a trading plan
- Start small and scale gradually
Still Unsure Whether CM Trading Is the Right Broker for You?
This CM Trading review highlights the most important aspects that our experts consider crucial regarding the broker. While we have laid all the information down for you to decide, you may need more answers and seek the help of adept traders.
Fret not! Our experts at CommuniTrade have all the necessary insights that you need to make a well-informed decision on whether to invest your money in CMTrading and many other brokers.
Ask questions, express your ideas, and learn from the experience of others so you can see the full picture when it comes to brokers like CM Trading.
