CM Globals Forex Broker

CM Globals Forex Broker - Complete Information Guide

1. Broker Overview

　　CM Globals, formally known as CM Globals Pty Limited, is an emerging forex and CFD brokerage that was established in 2012. The company is headquartered in Melbourne, Australia, with additional offices in Ottawa, Canada, and Cholpon-Ata, Kyrgyzstan. As a private entity, CM Globals operates under the umbrella of the Cortez Morgan family, which has a century-long history in various industries, including mining and financial services.

　　The primary market served by CM Globals includes retail investors, with a focus on providing trading solutions to over 150,000 individual investors worldwide. The broker has developed a diverse portfolio of trading products, including forex, commodities, cryptocurrencies, and indices, catering to a broad spectrum of investor needs.

　　Throughout its operational history, CM Globals has made significant strides in establishing itself in the competitive brokerage landscape. The firm has achieved notable milestones, such as receiving regulatory licenses from the Australian Securities and Investments Commission (ASIC) and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The business model of CM Globals revolves around retail forex trading and providing institutional services, ensuring a comprehensive trading environment for its clients.

2. Regulatory and Compliance Information

　　CM Globals is regulated by two prominent authorities: the Australian Securities and Investments Commission (ASIC) and FINTRAC in Canada. The ASIC license number is 625 075 498, while the FINTRAC registration number is M21737310. However, it's important to note that both regulatory licenses have faced expiration issues, raising concerns about the current compliance status of the broker.

　　The Australian entity, CM Globals AU Pty Ltd, was registered on February 3, 2023, and its license expired on May 6, 2023. The previous entity, Como Trade Pty Limited, had its license revoked on March 7, 2023. In Canada, Como Foreign Exchange Limited, registered on November 4, 2021, is not regulated for forex trading activities, which highlights a gap in regulatory oversight.

　　CM Globals adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, ensuring that all client funds are kept in segregated accounts. This practice enhances the safety of client deposits, as funds are protected from operational risks. Additionally, CM Globals is part of an investor compensation fund, which provides further assurance to its clients regarding the safety of their investments.

3. Trading Products and Services

　　CM Globals offers a wide array of trading products, making it a versatile choice for traders. The broker provides access to 43 currency pairs, including major, minor, and exotic forex options. In addition to forex, CM Globals also offers Contracts for Difference (CFDs) on various asset classes, including indices, commodities, stocks, and cryptocurrencies.

　　The available CFDs include popular commodities such as gold and silver, alongside indices like the S&P 500 and NASDAQ. Currently, CM Globals supports trading in four cryptocurrency pairs: BTC/USD, ETH/USD, LTC/USD, and XRP/USD. The broker frequently updates its product offerings, aiming to keep pace with market trends and investor demands.

　　For retail traders, CM Globals provides a comprehensive trading environment, including educational resources and market analysis tools to support trading decisions. However, institutional services and white-label solutions are not explicitly mentioned, indicating a focus primarily on retail trading.

4. Trading Platforms and Technology

　　CM Globals exclusively uses the MetaTrader 5 (MT5) platform, renowned for its user-friendly interface and advanced trading features. The platform is accessible on multiple devices, including desktop, Android, and iOS, enabling traders to manage their accounts conveniently from anywhere.

　　The broker does not currently offer a proprietary trading platform or the widely used MetaTrader 4 (MT4). The MT5 platform supports various execution modes, including Market Making, which may affect trading conditions and spreads. CM Globals' trading infrastructure is designed to ensure quick order execution, with a reported latency of 0.0004 ms for order transmission.

　　Additionally, the broker supports automated trading through the MT5 platform, allowing traders to utilize expert advisors (EAs) and algorithmic trading strategies. However, there is no mention of API access, which may limit some traders seeking advanced automation capabilities.

5. Account Types and Trading Conditions

　　CM Globals provides several account types tailored to different trading preferences and capital requirements. The available accounts include:

• Basic Account: Minimum deposit of $100, spreads starting from 1.9 pips, and no commissions.
• Class Account: Minimum deposit of $1,000, spreads starting from 1.7 pips.
• Plus Account: Minimum deposit of $2,500, spreads starting from 1.5 pips.
• Pro Account: Minimum deposit of $5,000, spreads starting from 1.3 pips.
• Master Account: Minimum deposit of $10,000, spreads starting from 1.0 pips.

　　All accounts come with investment assistant services and daily trade support. The broker does not offer Islamic accounts, which may limit options for traders seeking Sharia-compliant trading solutions. Leverage varies depending on the account type, with a maximum of 1:500 for international clients, while Australian clients face limited leverage due to local regulations.

6. Fund Management

　　CM Globals supports a variety of deposit methods, including bank transfers, credit/debit cards, and e-wallets like Neteller, PayPal, and Skrill. The minimum deposit requirement varies by account type, starting at $100 for the Basic Account. Deposits are processed instantly, with no associated fees.

　　Withdrawals can be made through similar channels, and the processing time is generally prompt, though specific timeframes are not detailed. There are no withdrawal fees, but it is advisable to check with the broker for any potential third-party charges that may apply based on the payment method used.

7. Customer Support and Educational Resources

　　CM Globals offers customer support through multiple channels, including phone, email, and an online contact form. However, live chat support is currently unavailable. The support team operates during business hours, and assistance is primarily provided in English.

　　In terms of educational resources, CM Globals provides various materials aimed at helping traders enhance their knowledge and skills. The educational offerings include webinars, tutorials, and market analysis reports to assist traders in making informed decisions. However, the depth and variety of these resources may not be as extensive as those offered by some competitors.

8. Regional Coverage and Restrictions

　　CM Globals primarily serves clients in Australia, Canada, and other regions, with a presence in 12 countries globally. However, the broker does not accept clients from specific jurisdictions, including the United States, Israel, Turkey, and Japan, due to regulatory restrictions. This limitation may affect potential clients looking for a broker with a more global reach.

　　In conclusion, CM Globals presents a mixed picture for traders. While the broker offers a range of trading products and utilizes a reputable platform, concerns about its regulatory status and high spreads may deter some potential clients. Traders are encouraged to conduct thorough research and consider their individual needs before engaging with CM Globals.