CMS Trader Review
CMSTrader, a leading investment advisor and online forex and CFD broker, owned and managed by a Dominican registered holding company called Safe Side Trading Ltd. Established in 2013, CMSTrader is registered with the New Zealand Financial Service Provider (FSP). They operate from 4 different countries namely Bahrain, New Zealand, Australia and Dominica. Apart from offering online trading services for forex and CFDs, CMSTrader also provide customized wealth management for their clients. With decades of experience behind their management team, CMSTrader conduct its operation with professionalism and integrity.
CMS Trader Review Video
CMS Trader Reliability – Is CMS Trader a Scam?
As one of the newer brokers in the industry, CMSTrader has so far done well in making a name for itself in the competitive online forex & CFDs trading industry. Despite the fact that it was only established in 2013, the online trading community regards this broker as one of the best brokers around. The fact that the broker’s holding company is based in Dominca and it is only regulated under the New Zealand’s Financial Service Provider (FSP) for the New Zealand’s market, traders are still signing with CMSTrader with no hesitation. So how did this broker manage to achieve such a high level of trust with the online trading community?
Professionalism And Integrity
First of all despite the fact that CMSTrader is regulated for one jurisdiction, this has not prevented them from conducting the global operations with professionalism and integrity. They are able to offer their traders with a full suite of trading platforms as well as a wide selection of trading accounts to suit the varying needs of their traders. From beginners to the more seasoned trader, there is a trading platform that will meet these traders’ particular trading needs. For example for beginner traders, they have access to social trading ability which mitigates the need to have prior trading experience.
24/7 Customer Support
CMSTrader is also one of the rare few forex brokers who are willing to provide customer support on a 24/7 basis. While most leading brokers limit their support hours to the trading week, CMSTrader has extended their support services to also cover the weekends. Their support staff are also able to communicate easily with their clients since they are bi-lingual. They are committed to looking after the needs of each and every one of their clients.
CMSTrader also makes the extra effort to provide their traders with their CMS Prepaid MasterCard so withdrawals can be done more quickly and efficiently. In an industry which is saturated with brokers, only a handful of brokers offer such a developed product.
Our conclusion is that CMSTrader truly strives to ensure their traders have an enjoyable trading experience with them. And they are constantly trying to improve the level of their services by continuing to innovate. In short, CMSTrader has remained true to its commitment of trying to stay ahead of other brokers in the industry through constant evolution.
To provide their clients with access to the financial markets, CMSTrader offer 3 main types of trading platform each with their own individual strong points.
Web based, this trading platform is user friendly and comes integrated with a whole host of unique trading features. The trading platform also allows traders to conduct their trading in real time as well as letting traders trade on a social trading platform.
A stable and highly configurable trading platform, the SIRIX station is easy to use and enables you to place trades with the liquidity providers almost instantaneous. It also comes with a sophisticated trading feature which lets you analyze the effects of news and lets you react to market changes faster.
As powerful as the desktop version of the SIRIX station, the SIRIX mobile platform enable traders to trade the markets from the palm of the hands on their smartphones. It is available as a trading app on Google Play Store and Apple’s APP store.
4 types of trading accounts are provided by CMSTrader, Mini account, Silver account, Gold account and Exclusive account.
Requiring only a minimum deposit of $500 to open, the Mini account grants you access to the SIRIX WebTrader platform and let you trade with more than a hundred different types of currency pairs
Meant for the more experienced trader, the minimum deposit requirement for the Silver trading account is $5000. You have access to both the CMS WebTrader and Mobile Trader. It also gives you direct access to the trading floor
To open a Gold trading account, you will need a minimum of $50,000. You get a choice of fixed or variable spreads. The service is also customized to your specific trading needs.
Exclusive accounts are only available to those who have a minimum of $100,000 to trade with. The trading account is only available by invitation only.
For those who require it, the Islamic trading account is also available and is compliant with Sharia law. Overnight positions on this type of trading account do not incur any interest.
Commission & Spreads
For the Mini and Silver type of trading accounts, the minimum spreads starts from 2 pips. However, Gold and Exclusive accounts also get a discount on their spreads making the spreads lower by 1 pip.
The customer support service at CMSTrader is 24/7 and is provided through live chat, email, fax and telephone. The languages supported include English, Arabic and French. The website is also translated into several languages such as Arabic, French, Italian and Russian.
- 24/7 Multi-Lingual customer support
- Choices of trading account types
- CMSTrader Prepaid MasterCard
- Selection of trading platforms
- Social Trading Supported
- Wide range of assets
- Only regulated in New Zealand
- Website access restricted to non account holders
- Lack of information on trading conditions
- Minimum deposit requirement higher than most brokers
- No support for Major Asian Languages
CMSTrader has managed to stay ahead of most brokers in the industry as the services which they offer are extremely competitive. Some of their offerings are exclusive and are not found anywhere else. They provide their traders with a good selection of trading platforms which are ideal for both beginners as well as experienced traders. Our recommendation is this broker deserves some serious consideration.