best forex broker 2018

CMSTrading Review

CMS Trader Review

The Company and Security of Funds

Broker in review: CMSTrader

Operated by Pandorx Ventures Ltd.

Note: 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.

Warning: February 2016, Ontario Securities Commissions issued warning against CMSTrader. Many negative user reviews all over the internet.

Established in 2013

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

Location: UK

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

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. 

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

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

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 2018 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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