Overall Rating: ★★☆☆☆ (2.5/5.0)

CM Trading is a South African-based forex and CFD broker founded in 2012 and operated by Blackstone Marketing SA (Pty) Ltd. It offers the MetaTrader 4 platform, a proprietary CopyKat social trading feature, and access to a variety of asset classes, including forex, indices, commodities, and cryptocurrencies. While it is regulated by the FSCA, CM Trading is not licensed by any tier-1 regulator, and its trading conditions — particularly spreads and fees — are less competitive compared to industry leaders. This CM Trading review outlines its offerings, risks, and who it may suit.

Key Features

CM Trading aims to attract beginner and intermediate traders with social trading tools, bonus promotions, and crypto funding options.

• Trading Platforms:
  • MetaTrader 4 (MT4) – desktop, mobile, and web versions
  • CopyKat – Social trading platform for copy-trading top traders
  • WebTrader – Browser-based proprietary interface
• Markets Offered:
  • Forex, indices, commodities, stocks, and cryptocurrency CFDs
• Account Types:
  • Bronze, Silver, Gold, and Premium
  • Differ in terms of spread, support level, and training resources
• Leverage:
  • Up to 1:200 for forex trading

Regulation and Security

CM Trading is moderately regulated but lacks global tier-1 licensing.

• Regulated by the FSCA (South Africa) – FSP No. 38782
• Not licensed by FCA, ASIC, or CySEC
• No client compensation fund or investor protection beyond FSCA rules
• Client funds said to be held in segregated accounts, but no third-party audit or guarantee

Pricing and Costs

CM Trading has above-average spreads and unclear commission policies.

• Spreads:
  • EUR/USD average 2.5 to 3.0 pips, which is relatively high
  • Commodities and crypto CFDs also come with wide spreads
• Commissions:
  • Standard forex trades are commission-free (spread-only), but ECN accounts carry undisclosed commission rates
• Minimum Deposit:
  • Starts from $250 for Bronze account
  • Premium accounts require $10,000+
• Deposit & Withdrawal Fees:
  • CM Trading does not charge deposit fees
  • Withdrawal fees vary by method (up to $25)
• Inactivity Fee:
  • $15/month after 60 days of inactivity

Educational Resources and Customer Support

CM Trading provides beginner-focused education and multilingual support.

• Education:
  • Video tutorials, webinars, market glossary, eBooks
  • One-on-one training for Silver accounts and above
• Market Analysis:
  • Daily technical updates, weekly insights, and trading signals
• Customer Support:
  • 24/5 live chat, phone, and email support
  • Local support for clients in South Africa and Nigeria

Risk Management Tools

The broker offers basic tools but lacks more advanced protections.

• Risk Tools:
  • MT4 stop-loss, take-profit, and margin alerts
  • No guaranteed stop-loss orders
  • Leverage fixed by account type, with no customisation options
• Copy Trading Risks:
  • Users copying trades via CopyKat have limited control over execution or strategy management

Pros and Cons

Pros

• FSCA regulated and regionally focused support
• MetaTrader 4 and CopyKat social trading platform
• Beginner-friendly resources and account types
• Crypto deposit and withdrawal options

Cons

• Not regulated by any top-tier financial authority
• Wide spreads and limited fee transparency
• High inactivity and withdrawal fees
• No MT5 or advanced trading features
• Lack of investor protection or compensation scheme

Conclusion: Is CM Trading the Right Choice?

CM Trading may appeal to beginners in Africa and the Middle East, especially those looking for localised support, social trading, and basic education. However, its high trading costs, lack of top-tier regulation, and limited transparency make it a less attractive choice for experienced or high-volume traders.

If safety, low spreads, and tighter regulatory standards are your priority, consider alternatives like Pepperstone, IC Markets, or FXCM.