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CMG Review

CMG Review

 

Overall, CMG stands for Capital Markets Group. CMG is regulated by the Australian Securities and Investments Commission (ASIC). CMG offers its clients the use of the MetaTrader4 platform.  CMG offers its clients an impressive maximum leverage ratio of 1:500.

 

CMG at a Glance

 

📅 Year Founded2015
📍 Head Office
St. Vincent and the Grenadines, Kingstown.
⚖️ Financial Regulatory Bodies
the Australian Securities and Investments Commission (ASIC)
📈 Managed accounts
No
📊 Institutional accounts
Yes
☪️ Islamic AccountYes
💰 Minimum Deposit
$250 / R 4 101,88
👍 Demo Trading Account available
Yes
🌐 Countries not accepted for tradeThe United States
💰 Withdrawal options
Bank Wire Transfer, Credit Card, Neteller, Skrill (Moneybookers), Connectivity, China UnionPay, and B2B Transfer.
📒 Deposit options Bank Wire Transfer, Credit Card, Neteller, Skrill (Moneybookers), Connectivity, China UnionPay, and B2B Transfer.
💻Platform(s) providedMetaTrader4
🖥️ OS compatibility
Yes, Mobile and Desktop
📈 Tradable assets
Over 80 currency pairs, CFDs, precious metals, commodities, and oils
📓 Languages supported on the websiteEnglish
📓  Customer support languagesEnglish
☎️ Customer service hours24 hours a day, six days a week.
Maximum Leverage1:500
👉 Open a account👉 Click Here

 

Overall Rating

4.2/5

Rated #365 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker
CMG

 

CMG Review – 18 key points quick overview:

 

 

CMG is a forex broker company in St. Vincent and the Grenadines. With regards to what exactly is a Forex broker, it is a firm that gives traders admittance to platforms that let them buy and sell foreign currencies.

 

Finding a reputable CMG review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

 

Below is an in-depth review regarding CMG to help you make an informed decision before opening your account or trading on their platform.

 

The different names for Forex brokers are retail forex brokers or currency trading brokers. There are slight differences as Retail currency traders use these brokers to gain access to the 24-hour currency market for theoretical purposes.

 

Forex brokers can also provide services to not just individual traders, but also provide for institutional clients and large businesses, for example, investment banks.

 

CMG is a Vincentian forex broker company that is based in Kingstown.

 

CMG stands for Capital Markets Group; they are a global forex and CFD broker that is registered by the Financial Services Authority and was established back in 2015. The broker says they work relentlessly to provide their clients with competitive pricing, fast order execution, and reliable trading infrastructure.

 

The company also claims to be constantly updating its services to stay ahead of its competition and even goes so far as to say they are the best in the industry.

 

CMG Awards and Recognition

 

CMG Awards

 

When it comes to deciding what broker to choose, a trader has to look at the broker’s stability and reputation over the years.  Awards gained by a brokerage by esteemed organizations do provide much more confidence in the world of forex.

 

Although CMG is rated highly by many happy customers in personal reviews, there is no information available on the CMG homepage about any official awards received.

 

CMG Accounts

 

CMG Accounts

 

A forex account that is held by the trader is normally given by the broker with the sole purpose of trading different currencies and market instruments. Usually, the number and type of accounts that a trader can open with a broker company differ according to the broker or country in which they operate.

 

Normally the country of residence of the broker would provide the regulatory authorities under which they would fall.

 

Overall Rating

4.2/5

Rated #365 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker
CMG

 

 CMG Types of Accounts and their Features

 

Clients who wish to sign up with CMG will be automatically signed up for a MetaTrader4 account, which is the only option that is available so, there is no need to compare conditions on multiple account types with this company.

 

The standard account type that is offered has a minimum deposit requirement of 250 USD with above-average maximum leverage of up to 1:500, the spreads are varied but claim to begin at 0.2 pips and micro-lots are available but depend on the instrument with which you are trading.

 

In order to actually open this account, the broker requires compliance documents before you receive approval for trading.

 

You will need proof of ID in the form of either a passport, ID, or driver’s license, then you will need proof of residence, there are several documents accepted as proof of residence, and all of the acceptable documentation can be viewed on their website under ‘Support’ and ‘Legal Documents.

 

Overall Rating

4.2/5

Rated #365 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker
CMG

 

 CMG Deposits and Withdrawals

 

CMG Deposit and Withdrawal

 

📍 When you have an account with a Forex broker, you will find that each company offers different ways to make deposits and withdrawals, CMG offers the following methods for both deposit and withdrawal:

💳 Bank Wire Transfer,

💳 Credit Card,

💳 Neteller, Skrill (Moneybookers),

💳 Connectivity,

💳 China UnionPay,

💳 B2B Transfer.

 

 CMG Cost and Fees, Commissions, and Spreads

 

CMG Fees

 

Each broker charges its own costs which entail commissions, spreads, and margins. Traders should be aware of exactly what their broker’s fees will involve before making the decision to trade with them.

 

The following describes what exactly a spread, margin, and commissions are:  The spread of a currency pair is the variance between the bid and the asking rate.

 

A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

 

A margin means that it is the amount of money essential in your account in order to open a place. Margin is planned based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.

 

The commissions are the costs levied by the broker on a client for making trades on the client’s behalf. The level of commissions will differ between various brokers and it will also depend on the different kinds of services, accounts, and trades done by the brokers.

 

There are, however, execution-only brokers, they do not get involved with any direct personal investment guidance. These brokers charge much fewer commissions but the traders have to take complete control over how they trade the markets.

 

Although contract for differences (CFDs) trading is a method of offshoot trading that allows traders to gamble on the rising or falling prices of fast-moving global financial markets. This type of trading of shares does incur a commission. CFD trades on different markets have no commission but do wrap a spread around the market price of a certain instrument.

 

Commission fees apply depending on the account you hold. Even though there is only one account type, you can become a wholesale client if you have a balance of 500,000 USD in your account, CMG has hinted that these clients receive lower or zero commission fees.

 

For everyone else, commission fees, as well as rollover interest, do still apply except for trades with commodities. When it comes to spreads, CMG claims their varied spreads begin at 0.2pips however the average spread is more in the range of 2.3pips which is well above their competitor’s rates.

 

 CMG Leverage

 

CMG Leverage

 

Leverage is the ability that will enable a trader to gain greater exposure to the market than the sum a trader deposited to begin a trade. Leveraged products increase a trader’s prospective revenue – yet also create a risk for loss.

 

The amount of leverage is conveyed as a ratio, for instance, 50:1, 100:1, or 500:1.

 

For example, if a trader has $1,000 in his trading account and is trading ticket sizes of 500,000 USD/JPY, that leverage will compare to 500:1.

 

CMG offers its clients an impressive maximum leverage ratio of 1:500.

 

 CMG Bonuses

 

To attract new business from traders, Forex brokers normally lure them with eye-catching deposit bonuses.  For new investors, this can be very handy, but one has to know what to determine is a decent bonus.

 

A bonus is a way to reward traders for deciding to choose a certain broker since once the account is opened, the trader will have the same expenses as any other. The bonus is just a reward for the trader’s choice that gives some of these expenses back to the trader, once proving himself as an active trader.

 

Furthermore, since 1 August 2018 The European Securities and Markets Authority (ESMA) has placed investor protection measures on the marketing, distribution, or sale of CFDs to retail clients, which stops brokers from directly or indirectly providing the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, other than the realized profits on any CFD provided.

 

At this time CMG does not seem to be offering any special bonuses or promotions, finding a broker who offers realistic terms and conditions with their rewards is actually a rare find. That being said, CMG could still benefit from offering their clients a little incentive, but one should never choose their broker based on this category alone.

 

Since the company does say that they are constantly adapting in order to stay ahead of their competition you should definitely check their website in the future to see if anything has been added.

 

 CMG Trading Platforms, Software, and its Features

 

CMG Trading Platforms

 

Brokers provide different trading software for their clients. This is normally called a trading platform and it is used for making trades.

 

A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

 

The choice of which platform to choose mostly depends on what a client would like to trade, therefore it will be one of the standards when choosing a broker too.

 

CMG offers its clients the use of the MetaTrader4 platform

MetaTrader4 desktop and mobile – This is one of the most popular and widely used platforms in the trading industry, MetaTrader4 is known for having a user-friendly interface, excellent educational material, and intuitive research tools that appeal to both beginners and advanced traders. MetaTrader4 is compatible with several operating systems such as Linux, Mac, Windows, IOS, and Android.

 

📍 The platform does not overload your computer, is available in over 30 different languages, and offers the following execution modes:

➡️ Instant execution

➡️ Execution on request

➡️ Execution by market

 

The platform also offers automated trading by programming with MetaQuote’s proprietary MQL4 language and constructing custom indicators

 

 CMG Markets, Products, and Instruments

 

CMG Market Instruments

 

The majority of brokers will provide various kinds of market instruments for trading. A new trend that is picking up momentum is trading in cryptocurrencies.

 

The following are various types of cryptocurrencies: The most well-known of these is Bitcoin (BTC) which is the digital currency with the major market capitalization and price levels since it began in 2008. It controls 50 percent of the total crypto market cap.

 

Ethereum (ETH) is the second major cryptocurrency after Bitcoin and provides developers to create smart contracts on a platform.

 

Another cryptocurrency is Litecoin (LTC) which is similar to Bitcoin but varies in terms of scalability.  Litecoin is also a very popular altcoin and LTCUSD is a fork of Bitcoin (BTCUSD), copied from Bitcoin’s code and with some changes and launched as a new project.

 

Ripple (RPL) is also popular amongst large banks with the Ripple network a next group real-time gross settlement system. It gives a trader instant cross-border fund transactions at very low costs.

 

Lastly, Bitcoin Cash (BCH) was produced by the Bitcoin hard fork in 2017 as a new form of the blockchain with altered rules.

 

Your other market instruments consist of Commodity markets which offer different asset opportunities for traders. Investing in contract-based tradable goods is a dependable way to alleviate risk during times of inflation or economic uncertainty.

 

Precious metals are another dependable investment for traders. This consists of trading in gold and other precious metals which are hard commodities.

 

A lot riskier is your energy products because this is affected by political and environmental situations. The great supply and demand however make it a popular trading choice.

 

Your normal currency trading known as Forex trading, also named currency or FX trading, involves the monetary exchange market where individuals, companies, and financial institutions exchange currencies for one another at fluctuating rates.

 

Lastly, you get your Equity or stock indices which are actual stock market indexes. They measure the value of a specific unit of a stock market. They can signify a specific set of the largest companies of a nation or they can represent a specific stock market.

 

CMG gives its clients the ability to trade in over 80 currency pairs, CFDs, precious metals, commodities, and oils.

 

Overall Rating

4.2/5

Rated #365 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker
CMG

 

 CMG Safety and Regulation

 

CMG Safety and  Security

 

When a broker is regulated by a governing regulatory organization, the risk is lowered for traders.  This will determine if CMG is safe to trade with.

 

CMG is regulated by the Australian Securities and Investments Commission (ASIC).

 

 CMG Customer Support

 

Prospective traders have to be assured that whoever they choose to invest with will give them the required support and assistance whenever and wherever they might need it.

 

The CMG customer support team can be reached via email, telephone, or live chat on their website. The consultants are available 24 hours a day, six days per week.

 

 CMG Research

 

Would-be traders must do what is possible in the inquiry around theoretical trading before beginning to do it. Trading with confidence and success counts heavily on knowledge and understanding of the markets, consequently research options accessible by brokers form an essential part of its features when choosing the right company to trade with.

 

When you log onto the CMG website, they advertise things like an economic calendar, technical analysis, and other tools one would find extremely useful, however, these options do not seem to be accessible from the website so they are most likely referring to the built-in tools that come standard with the MetaTrader4 platform.

 

Disappointing as most brokers offer their own unique research tools in order to help clients get ahead, a news feed, calculators, economic calendar, and other analyses would be greatly beneficial to the existing and new clients of CMG.

 

 CMG Education and Training

 

CMG Education

 

New clients of CMG should try and gain as much information as possible about what type of trading expertise will be needed to be effective in the world of forex and commodity trading.

 

CMG’s website should provide all the information one needs to gain skills and knowledge to be able to trade successfully with them.

 

Unfortunately, CMG does not seem to offer any educational material on its website other than its demo account. The demo account is extremely useful but not for a beginner who knows absolutely nothing about trading. A few articles, how-to videos, and even a glossary would be greatly beneficial to new traders looking to sign up with the company.

 

Conclusion

Overall, CMG stands for Capital Markets Group. CMG is regulated by the Australian Securities and Investments Commission (ASIC). CMG offers its clients the use of the MetaTrader4 platform.  CMG offers its clients an impressive maximum leverage ratio of 1:500.

 

Disclaimer

CMG cautions possible traders that Forex and CFDs trading constantly carries a high level of risk, thus may not be appropriate for all investors.

Before customers decide to trade the products offered by CMG, they are recommended to anticipate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use CMG’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While CMG assures traders to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor.

 

Overall Rating

4.2/5

Rated #365 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

80

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker
CMG

 

Frequently Asked Questions

Trading Environment

 

How many instruments can I trade with CMG?

You can trade several different instruments with CMG, which include the following:

  • Over 80 currency pairs
  • CFDs
  • Precious metals
  • Commodities
  • Oils

 

Which platforms are supported by CMG?

CMG provides the following popular trading platforms:

  • MetaTrader4

 

Does CMG offer leverage?

Yes, CMG offers maximum leverage of 1:500.

 

What spreads can I expect with CMG?

CMG offers spreads variable spreads from 0.2pips but the average seems to be 2.3pips.

 

Does CMG charge a commission?

Yes, they do.

 

Is CMG regulated?

Yes, CMG is regulated by the Australian Securities and Investments Commission (ASIC)

 

Is CMG a recommended forex trading broker for experts and beginners?

Yes, CMG is recommended for both beginner and expert traders thanks to their demo account and the MetaTrader4 platform.

 

What is the overall rating out of 10 for CMG?

7/10

 

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.

 

Does CMG offer a demo account?

Yes, they do

 

Can I convert my demo account to a live trading account with CMG?

The demo account can be used at real-time prices and trading conditions for a period of 30 days.

 

Which live trading accounts does CMG offer?

CMG only offers their Standard live trading account.

 

What are the available deposit currencies for a live trading account?

Only USD

 

 

Deposits and Withdrawals

 

What is the minimum deposit for CMG?

250 USD

 

How do you make a deposit and withdrawal with CMG?

CMG offers the following deposit and withdrawal methods:

  • Bank Wire Transfer
  • Credit Card
  • Neteller
  • Skrill (Moneybookers)
  • Connectivity
  • China UnionPay
  • B2B Transfer

 

The same method that was used to fund an account must usually be used to withdraw money again and monies will only be refunded to accounts that carry the same name as the trading account with CMG.

 

Does CMG charge withdrawal fees?

No, but fees from financial institutions may apply

 

How long does it take to make a withdrawal?

CMG claims that withdrawals usually take only a few days. Traders should note however that depending on a specific bank service it may take several days for the money to be available in a client account.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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