CMSTrader
1.0

CMSTrader

Closed Broker

Cons
  • Broker's site is down.
  • Warning: broker offers confusing information about which company it belongs to. The website mentions 3 (!!!) different companies: IDT Financial Services Ltd., Padorx Ventures Ltd. And Side Side Trading Ltd.

Reviewed broker: CMS Trader

Operated by Pandorx Ventures Ltd.

Established in 2013

Location: Offices in the UK, Australia, Bahrain, Dominica and Singapore

Regulation: Pandorx Ventures Ltd. is registered in the UK, but is not regulated by the FCA

CMSTrader offers trading across forex, indices, commodities and cryptocurrencies

CMS Trader Facts – Is CMS Trader a Scam?

The red flag is the fact that this boker is not regulated, meaning that it is likely to be involved in fraud and scam.  In February 2016 the Ontario Securities Commission issued a warning against CMSTrader for doing business in Canada without proper authorization. On top of that, a small research over the internet shows way too many unhappy client reviews and accusation of CMSTrader being unreliable broker. 

CMSTrader Trading Accounts & Features

Account types: mini, silver, gold

Minimum trade size: 0.01

Maximum leverage: 1:200

Spreads: starting from 3 pips (too high)

Dealing desk execution: yes, for mini account (possible market maker?)

No dealing desk execution: yes, for silver and gold accounts

Fixed spreads: yes

Optional floating spreads: yes, for gold account

Risk management plan: yes

Personal account manager: yes

Islamic accounts (swap free): yes

ECN: no

Currency pairs: 120

CMSTrader Trading Platforms

Trading platform: Sirix (desktop, web, mobile)

MetaTrader 4: this brokerage does not support the MetaTrader 4 (MT4) platform – really unusual sight among online forex brokers today

Social trading features: yes

Fast execution: yes

CMSTrader Methods of Payment

Minimum deposit: $500 (very high requirement)

Payment methods: credit cards only, wire transfers are charged $20

Minimum withdrawal amount: $500 (very unusual requirement!)

How was the rating of CMSTrader performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on CMSTrader FX broker performance and features. 

Overall our online CMSTrader review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online CMSTrader or you find inaccurate details CMSTrader Capital broker review please get in touch with us and the changes will be applied. 

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Regulation and Security
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Platforms and Features
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Deposit and Withdrawal
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Educational Material
1.0 Overall Rating

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Regulation: Financial Conduct Authority (FCA)

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Regulation: UK by the Financial Conduct Authority FCA , Australian Securities and Investments Commission ASIC, Cysec Cyprus, Financial Sector Conduct Authority South Africa FSCA

Regulation: Central Bank of Ireland, ASIC, FSCA, Japan, Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) Cyprus Securities and Exchange Commission, Israel Securities Authority

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