CMSTrading review screenshot

Broker in review: CMSTrader

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

Location: UK

Regulation: not regulated

Account types: mini, silver, gold

Minimum deposit: $500 (very high requirement)

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 platform: Sirix (desktop, web, mobile)

MetaTrader 4: no

Social trading features: yes

Fast execution: yes

Payment methods: credit cards only

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

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