CM Trading is an online broker established in South Africa in 2014. It offers CFDs on currencies, stock, indices, commodities and cryptocurrencies on a selection of modern platforms.
|#||Broker's Features||LEGACYFX Availability||CM TRADING Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||✔||❌|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||✔||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare LegacyFX vs Cm Trading.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. LegacyFX offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures, while Cm Trading offers Currencies, Commodities, Indices, Cryptocurrency.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. LegacyFX is STP, while Cm Trading is STP.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. LegacyFX recommended minimum capital is 500, while Cm Trading has a Minimum Deposit Requirement of .
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. LegacyFX is regulated by CySEC, BaFin, FCA, while Cm Trading regulated by FSCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. LegacyFX offers UDS, EUR, GBP different account currencies for each account types, while Cm Trading offers account currencies.
Languages Available: Next lets have a look at each broker's different Language options. LegacyFX offers English, Spanish, Italian, German, while Cm Trading offers Arabic, Chinese, English, Indonesian, Malaysian, R Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. LegacyFX offers Credit/Debit Cards, Neteller, Skrill, Bank Wire Transfer different payment methods for each account types, while Cm Trading offers Cash-U, Credit/Debit Cards, Neteller, Bank Wire Transfer payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, LegacyFX makes MT5 available to clients, while Cm Trading offers MT4.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, LegacyFX is more reliable based on our criteria above. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. LegacyFX broker is regulated in more major hubs. LegacyFX offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. One of the criteria we looked at before opening an account on a forex broker is the minimum deposit amount. LegacyFX broker offers lower minimum deposit requirement.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.