Financial Services Board-regulated GCMT SA, which owns and operates the CM trader brand, represents Blackstone Futures (FSB). Client money is kept in segregated accounts for their safety and protection.
Instruments for trading: –
Forex, Commodities, Indices, and CFDs can all be traded on the CM Trading platform. There are over 50 different instruments to trade, including over 28 currency pairings. There is a minimum trade amount of 0.01 Lot that can be executed with the CM trader. A client’s account may have a bearing on this. A trader and an instrument can have different maximum trade requirements. The STP execution offered by CM Trading provides tighter spreads and greater transparency over the cost of executing trades.
Trading Fees: –
CM trader charges a spread fee, which is the difference between an instrument’s buy and sell prices. CMC Markets’s minimum spread for trading the EUR/USD is 0.7%, lower than the average spread for this currency pair compared to other brokers. A trader would likely pay zero to buy one standard lot of EUR/USD (100k units) at the current exchange rate of 1.1719 and then sell it the following day at the same rate.
Opening a CM Trading Account: –
CM Trading’s account opening process is much easier than those of other brokers. To open a trading account at CM trader, Nigerians must first deposit at least USD 250. After registering for a live account, you can also access demo accounts. Beginner traders who want to trade risk-free before opening a real account will find this rare among brokers. The method of opening an account is quick and simple, and most accounts are ready to trade within minutes.
At CM Trading, how do you open an account?
CM Trading’s main page has a “Register” button that must be clicked to begin the process. To open an account with CM Trading, customers must provide their name, email, birth date, country of residence, and phone number. This is a lot of information for a broker to ask for at this point, but you’ll eventually have to submit it as part of the verification process with any broker. KYC (Know Your Customer) verification is necessary to avoid money laundering and meet regulatory criteria after registering your account.
A government-issued identification card or a driver’s license are acceptable forms of identification accepted by CM traders. A utility bill or bank statement produced within the last three months showing your name and the full address is acceptable proof of residency.
No PO Boxes: –
You can provide CM trader verification documentation by emailing compliance@cmtrading.com with your trading account number as a source in the subject line. Use the “My Account” link found after logging into your trading account. To upload a file, select the type of document and click “Browse.” JPEG/JPG/PDF/Word files can be sent.
The account will be ready to trade within minutes of receiving all of the necessary paperwork. This broker’s account-opening process is much easier and faster than that of many of its competitors. A typical feature to avoid identity theft, the lack of support for PO Box residences, may inconvenience some dealers. Unfortunately, new traders must open a trial account with an active account, which isn’t standard for most brokers and may discourage many novice traders from using a demo account.
