CMS Forex Review 2020: Gaining momentum defines Gain Capital, which acquired the prestigious CMS Forex broker in the year 2010. It recognised the gallant efforts made by the foreign exchange organisation and rewarded it through acquisition. The broker firm has an alternate name CMSFX. The company started functioning in 1999, and since then, it has been witness to several extravagant events in the FX market.
The transition of CMSFX into the Gain Capital was smooth as butter. It is offering seamless service precisely to retail traders via proprietary trading accounts. Here’s an attempt at the review of CMS Forex broker.
Regulation of CMSFX
In the initial years, NFA, US was the regulating body monitoring the activities of the broker. But after the acquisition, Gain Capital established its headquarters at the British Virgin Islands. So, all the supervision is at the helm of the parent company. In that case, there is no clarity of regulation.
However, on the other hand, Gain Capital rules the chart as the top-notch financial regulated company.
The forex broker is currently getting operated in the UK, Russia, and the US. It centres in St. Petersburg, London and New York establish it as a profound brokerage service provider.
Aim of CMS Forex
Its goal is to offer a primary and world-class service and platforms to its users. The broker wants to cement the prospects of the forex markets and wishes to draw more and more customers.
PS:- In the past, through the latest trading technologies, it grew swiftly compared to is peers.
Registration of CMS Forex
The company finds its registration at FCM (Futures Commission Merchant) as the Capital Market Services.
Available platforms on CMS Forex
The forex exchange broker is offering varied forms of platforms to its esteemed clients. Fx Tradeport, MetaTrader4, FX Tradeport Plus, and VT Trader™ 2.0. These options make the broker ahead of its competitors in terms of providing the most excellent platforms for bidding, buying, selling and trading.
Out of these alternatives, VT Trade is the sliver of hope, which is miles ahead of many platforms. It is customisable, flexible and sports a user-friendly interface. There are more than 110 vital technical indicators that elevate the experience of customers by helping them fetch a better deal in no time. A trader can also build his/her indicators using them. It clocks a plethora of management tools along with custom price alerts. Besides, the option of automated trading is the icing on the cake.
Account types on CMSFX
It precisely offers two types of accounts to its customers:-
Live account and Demo account.
Demo account:- Before starting to trade, the brokerage firm provides a demo account for getting accustomed to the real account and its functioning. There are 30 days to master the script of working. A trader can make a glib transition after learning it.
Live account:- It is where the world of forex and other instruments is available and thrives in reality. Learned people can come here and start taking their chances through transacting on different currencies and assets.
When a user deposits the UK, due to high security, it gets stored in the account of forex UK.
Minimum deposit:- On CMS Fx website, one has to make a deposit of $ 250, that might seem a bit high considering other brokers in the fray.
Minimum contract size:- Mini lot ( 1000 currency units)
Material for education:- The portal is providing study material to investors and traders for keeping them on the hook, learned. It helps in getting the required information on the market. Beginners can subscribe to live online trading courses on it for learning technical analysis and personal growth.
Currently, the company is not offering any promotions or bonus facility to its customers.
Options of banking
For depositing and withdrawal of funds, the CMSFX is offering facilities like Paypal, bank wire transfer, credit card, debit card, and cheque. These options are safe on security parameters, and users can take their chances without a hitch or hiccups. It is allowing money withdrawal at any time of the day. However, it might take up to 24 hours to process.
Customer care service
These services account for a brokers reputation. If the problems raised by customers remain insolvent, it sends a negative message. But CMSFX is managing it quite well. It is offering multiple ways to clients for reaching out and address their issues. Moreover, to make it better for users from all walks of life, it provides services in multiple languages. Apart from English, the customer care help is available in the following dialects: Russian, Arabic, French, Spanish, German, Japanese etc.
The company is working since eons and seen moments like thick and thin, hunky-dory and glory. Powered by its experience, it has the potential to draw its customers to a safe zone when it comes to trading forex. Though it lacks some advanced version of MetaTrader (MT5) but compensates well with the effervescent VT Trade. However, for choosing the forex currency, it is wholly left upon the users’ discretion. And every platform is worth a try at least once.
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