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Score

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/10

CMSTrader

United Kingdom|5-10 years|
Suspicious Regulatory License|MT4/5 full license|Regional Brokers|High potential risk|

https://www.cmstrader.com/#

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
SafeSideTrading-Server MT5
Server Location Finland

Contact

+44-2038687251
Support@cmstrader.com
https://www.cmstrader.com/#
https://www.facebook.com/encmstrader/?business_id=1626451967576825

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

More

Danger

CH FINMA
2021-01-28

Warning

SG MAS
2017-05-11

Contact number

English

+44-2038687251

Spanish

+44-2038687252

Broker Information

More

Company Name

Safe Side Trading LTD

Company Abbreviation

CMSTrader

Platform registered country and region

United Kingdom

Company website
Twitter
Facebook

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-03-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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CMSTrader · Company Summary

General Information & Regulation

CMSTrader is a Forex and CFD broker, founded in 2013, based in London, UK, and currently not subject to any effective regulation.

Market Instruments

CMSTrader offers investors a range of trading assets, including currency pairs, commodities, indices, stock CFDs, and precious metals.

Minimum Deposit

CMSTrader offers investors three different trading accounts: Mini account (minimum deposit of $500), Silver account (minimum deposit of $10,000), and Gold account (minimum deposit of $50,000). CMSTrader requires $ as a start, apparently higher than most brokers, as they only ask $100-$200 for traders to start trading.

CMSTrader Leverage

Trading leverage differes depending on different trading accounts. The maximum trading leverage for the Mini account is up to 1:200, 1:400 for the Silver and Gold accounts. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

The spread on the CMSTrader Mini account is 3 pips for EURUSD, which is well above the industry standard. Most legit brokers offer normal spreads between 1.1 pips and 1.5 pips on EURUSD.

Trading Platforms

Unlike most other dealers, CMSTrader offers traders not the most popular MT4 trading platform on the market today, but the Sirix trading platform, which is compatible with desktop, web, and mobile devices.

Deposit & Withdrawal

CMSTrader welcomes various deposit and withdrawal methods, mainly wire transfer, credit/debit cards (VISA, MasterCard, Maestro), and CMSTrader MasterCard. Popular payment methods such as Skrill, Neteller, and FasaPay are not available. The minimum amount for deposit & withdrawal is USD100, and the maximum amount is both USD 10,000.

CMSTrader Pros & Cons

CMSTrader Advantages Include:

1. Islamic accounts offered

CMSTrader Disadvantages Include:

1. No regulation

2. High minimum deposit requirements

3. Higher spreads, not competitive

4. Non-MT4 trading platform

5. Limited payment options

User Reviews

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User comment

4

Comments

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FX1225355498
more than one year
Trading costs are too high, and Mini accounts require at least $500. The spread of the EURUSD currency pair is as high as 3 pips, while the average spread in the industry is only about 1.5 pips.
2023-02-20 14:03
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0
0
FX1100093040
more than one year
I don't have a shred of desire to trade with CMSTRADER... It doesn't offer the MT4 platform, it requires too high a minimum deposit threshold, it charges high spreads and it has NO regulation... The complete opposite of an attractive broker!
2022-12-06 10:29
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0
0
K线图
more than one year
Stay away from them if you don't want to lose your money! They are a scamming gang! May they go to jail soon! It is best to sentence him to life imprisonment and stop coming out to harm others.
2022-11-29 18:16
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0
0
五月桃
more than one year
A 100% scammer, trying to get my $500 withdrawn, but still no reaction on their side. Their customer support also sucks, unresponsive at all. I would definitely not trade with this broker again.
2022-11-29 16:36
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