CM Globals 2025 Review: Everything You Need to Know
CM Globals has garnered mixed reviews in the forex trading community. While it offers a diverse range of trading instruments and account types, concerns regarding regulation and high spreads have raised eyebrows among potential users. This review synthesizes various expert opinions and user experiences to provide a comprehensive overview of CM Globals.
Note: It's important to highlight that CM Globals operates under different entities across regions, which impacts its regulatory status. This review aims to present a balanced view based on the most current and relevant information available.
Ratings Overview
How We Rated This Broker: Ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data about the broker's offerings.
Broker Overview
Founded in 2012, CM Globals operates as a forex and CFD broker primarily based in Australia. The broker provides access to the MetaTrader 5 (MT5) platform, which is known for its advanced trading capabilities. CM Globals offers a variety of tradable assets, including forex, metals, cryptocurrencies, energies, stocks, and indices. However, it has faced scrutiny due to its regulatory status, particularly as its licenses from the Australian Securities and Investments Commission (ASIC) have been revoked.
Detailed Breakdown
Regulatory Regions
CM Globals claims to be regulated by ASIC in Australia and holds registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). However, multiple sources indicate that its ASIC licenses have expired, putting its legitimacy into question. Some reviews labeled it as a "suspected scam," highlighting the need for caution when dealing with this broker (WikiFX, TraderKnows).
Deposit/Withdrawal Currencies and Cryptocurrencies
CM Globals accepts various deposit methods, including bank transfers, credit/debit cards, and e-wallets like Neteller and Skrill. The minimum deposit requirement is set at $100. However, the lack of transparency around withdrawal methods and potential fees has been a point of concern for users.
Minimum Deposit
The minimum deposit to open an account with CM Globals is $100, which is relatively standard in the industry. However, users have reported that higher initial deposits are required for lower spreads, making it less accessible for novice traders.
There is no substantial information available on bonuses or promotional offers from CM Globals, which may limit its appeal compared to competitors that provide such incentives.
Tradable Asset Classes
CM Globals offers a wide array of tradable assets, including 43 forex pairs, cryptocurrencies like Bitcoin and Ethereum, and various commodities and indices. However, the limited number of cryptocurrency pairs (only four) may deter crypto enthusiasts.
Costs (Spreads, Fees, Commissions)
Spreads at CM Globals start from 1.7 pips, which is above the industry average. Users have expressed frustration over the high spreads, particularly on lower-tier accounts. Additionally, the broker does not charge commissions, but the overall cost of trading may still be higher due to the spreads.
Leverage
CM Globals offers leverage of up to 1:500 for international clients, which is appealing to experienced traders. However, the lack of negative balance protection raises concerns about the risks associated with high leverage.
The only trading platform available is MetaTrader 5 (MT5), which is widely regarded for its robust features. However, the absence of MetaTrader 4 (MT4) may be a drawback for traders who prefer that platform.
Restricted Areas
CM Globals does not accept clients from several jurisdictions, including the United States and Canada, due to regulatory restrictions. This limitation can hinder its global reach and accessibility.
Available Customer Service Languages
Customer support is reportedly available in English, but the absence of live chat options has been criticized. Users have reported slow response times and inadequate support, further impacting the overall user experience.
Repeated Ratings Overview
Detailed Rating Analysis
Account Conditions
The account types offered by CM Globals include basic, class, plus, pro, and master, each with varying spreads and deposit requirements. However, the high spreads on lower-tier accounts have been noted as a significant drawback, with many users suggesting that these conditions make it difficult to profit from trading.
While CM Globals offers the MT5 platform, it lacks additional trading tools or educational resources that many competitors provide. The absence of comprehensive research tools can hinder traders, especially those new to the market.
Customer Service and Support
Customer service has received poor ratings, with users reporting slow response times and a lack of knowledgeable support staff. The absence of live chat options further exacerbates these issues, making it difficult for traders to get timely assistance.
Trading Setup (Experience)
The overall trading experience is marred by high spreads and limited customer support. Users have expressed frustration with the trading platform's reliability, citing issues such as slow execution times and a lack of transparency regarding fees.
Trustworthiness
The trustworthiness of CM Globals is questionable, given the recent revocation of its ASIC licenses and the mixed reviews from users. This lack of regulation raises concerns about the safety of client funds and the overall legitimacy of the broker.
User Experience
User experiences vary widely, with some praising the variety of trading instruments while others criticize the high costs associated with trading. The overall sentiment suggests that while the broker has potential, significant improvements are needed to enhance user satisfaction.
In conclusion, while CM Globals offers a range of trading options and the MT5 platform, the high spreads, questionable regulatory status, and inadequate customer support raise significant concerns. Traders should proceed with caution and consider alternative brokers that offer better conditions and support.
