CMS Forex Review

MIN. DEPOSIT
0 Users (0 votes)
Odds0
Services0
Support0

Overview

Company information   CMS Forex is a trading company established by developers, IT specialists and traders. The year of establishment is 1999. However, since then, the technologies behind the website… more

Read Full Review

Details

BrokerCMS Forex
Website URLhttp://www.cmsfx.com/
Founded1999
HeadquartersBritish Virgin Islands
Support NumberToll Free: 1.877.FOREXGO
Support TypesPhone, E-mail, Live Chat
LanguagesEnglish
Free Demo AccountYes
Account CurrencyAUD, CAD, EUR, GBP, USD, NZD, CHF, JPY
US Traders Allowed No

Full Review

  1. Company information

 

CMS Forex is a trading company established by developers, IT specialists and traders. The year of establishment is 1999. However, since then, the technologies behind the website and, therefore, the central trading platform of the company are not adequately evolving when comparing it to the rest of the world. The last update of the technologies is from 2008 which is almost ten years after the initial launch of the platform.

The website of CMS Forex is simplistic and with good design. The colors are well chosen, and every client can see the thoughts behind it. It is easy to navigate, find the information you’re looking for and to trade.

The company is with registration in the British Virgin Islands. Therefore, the licenses and the jurisdiction comes from the UK and the financial and trading institutions there. The number of clients who use this company is growing now, and more and more people trust CMS Forex.

 

  1. Trading information

The variety of trading options for most companies is colossal. However, with CMS Forex, as the name suggests, this is not the case. The company has its focus on financial trading. They offer forex services and no metal or commodity trading. Thanks to that specific they can deliver higher quality service, to optimize their processes. The company provides the most possible and usable currency pairs which people look for. That makes the brokers services impressive as the quality is supposed to be higher and the service to be improved over the years. Some people from the company suggest that a few services and currency pairs allow deeper analyzing the behavior of the individuals and, therefore, adjusting services and offerings to the particular needs, requirements and expectations of individual clients. On top of that having the smaller portfolio and being a company with this kind of structure suggest fewer customers but one with more information and experience which makes this company more professional and able to deliver specific service to the particular type of clients.

CMS Forex offers tights spreads. The typical spread for EUR/USD pair is 2.1 pips, but it can go as low as 0.9 pips, which is excellent according to industry standards.

The leverage is 200:1 and the minimum trade size is 0. The company offers scalping and hedging. No traders from the US and no Islamic accounts are allowed.

 

  1. Trading platforms

Most companies around the world use MetaTrader 4 or 5 because of the features which get better with every new update. These systems have different advantages in comparison to most other systems. They are wide used, and most traders are familiar with them. This makes every new client comfortable with the ecosystem and more willing to bet and put money on the individual currency pair. However, the central platform which the company uses is not MetaTrader 4 even though it is an option, but VT trader. The company which designed and programs that system and platform are Visual Trading Systems FOREXTRADER Pro. The system allows specific functions to be used and allows limit orders, stop orders, market orders. Also, each client can have access to trailing stop orders, OCO Orders, One click trading systems. Several other features are the 24h Trading, Charting package, the trade off charts, streaming news feed, email alerts and mobile alerts. This platform allows great personalization. The platform, however, has some disadvantages. It does not permit mobile usage, it requires download and cannot be used for a browser or a smart device. The reason for all of that is the old technology and the lack of upgrades from the people behind the platform. At the moment, in 21 century, the platform is not well adapted to the reality surrounding us, and that is easy to see once the client visits the website of the company.

 

  1. Security and customer service

When it comes to safety and different ways to protect the money and the deposits of the clients, the company relies very much on old technologies. Firewalls are not used, or if they are they are old versions which are not efficient enough, according to modern standards. SSL encryption is not present on the website and. Therefore, mobile money transactions are not safe and can easily be hacked. All these specifics make the company less reliable and less attractive for traders than many other companies in the industry.

The website only supports English and the support which the company offers is Chinese, English, Japanese and Russian speaking. The different methods to contact the company include phone, forums, call backs, chat and email. These are the most popular and usable methods today.

 

  1. Deposits & withdraws

 

This company offers deposits and accounts to be open in different currencies. These are AUD, JPY, GBP, CHF, USD, CAD. The minimum size of the deposit is $250. Being quite conservative, the company operates only with credit and debit cards and wire transfers. These are the methods every client can take advantage of when he/she wants to make a deposit or to withdraw the money.

Withdraws can only be done using a method that has already been used for making the deposit.

 

  1. Deposit bonus and loyalty programs

At the current moment, the website of the company nor their support inform for any deposit bonuses which the clients can have. They do not offer such options at the moment but according to specialists in the field, this will soon change as it is a common practice among prominent and trustworthy companies in this business.

Open an Account
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating