CXM Trading Information
CXM trading is a forex and CFD broker offering a range of financial instruments including forex pairs, stocks, cryptocurrencies, indices, metals, and energies. The broker offers various types of accounts with different deposit requirements and leverage ratios, including a Cent account, Standard account, Premium account, ECN account, and FIX API account. The platform used by CXM trading is the popular MT4 platform, which allows for social trading. The broker offers several deposit and withdrawal methods, including bank wire, cryptocurrencies, stable cryptocurrencies, and Union Pay.
What Type of Broker is CXM Trading?
Pros & Cons
Pros:
- Wide range of instruments available for trading, including forex pairs, stocks, cryptocurrencies, indices, metals, and energies.
- Different types of accounts with varying minimum deposit requirements and maximum leverage options, providing flexibility to traders with different needs and preferences.
- Availability of the popular MetaTrader 4 (MT4) platform, as well as social trading features for more collaborative and interactive trading experiences.
- Multiple deposit and withdrawal options, including bank wire, cryptocurrencies, stable coins, and UnionPay, with minimal to no commission charges and relatively low minimum amounts.
- 24/5 email customer support available for any queries and concerns.
Cons:
- Limited educational resources, which may pose a challenge to novice traders who need more guidance and training.
- No live chat or phone support options, which may not be ideal for traders who prefer more direct and immediate assistance.
- High minimum deposit requirements for some of the more advanced account types, which may not be accessible to traders with limited capital.
Is CXM Trading Legit?
CXM Trading operates under robust regulatory frameworks with two distinct licenses. The brokerage holds a Straight Through Processing (STP) license (No. 612233) from the strict and reliable UK's Financial Conduct Authority (FCA), indicating high standards in transparency and operational fairness.
Additionally, CXM Trading has an offshore-regulated Retail Forex License (No. GB21026337) issued by the Financial Services Commission (FSC) in Mauritius. While offshore licenses are often viewed with a degree of caution, the regulation still indicates an adherence to certain financial regulations.
Market Instruments
CXM Trading offers a wide range of tradable instruments that include forex pairs, stocks, cryptocurrencies, indices, metals, and energies. The variety of tradable instruments offers traders the opportunity to diversify their portfolio, hedge against market volatility, and take advantage of multiple market opportunities.
Spreads & Commissions
CXM Trading provides detailed information about spreads, min and max trade size, lot size, margin and leverage in their trading specification form. Spreads on major currency pairs such as EURUSD are low, at around0.7 pips. However, the broker does not mention anything about commissions, making it difficult for traders to estimate their overall costs.
Account Types
All account types support trading in forex, metals, CFDs, and cryptocurrencies. The minimum lot size for all account types is 0.01 lots. The required minimum initial deposit amount varies significantly across account types, ranging from $500 for the CENT account to $50,000 for the FIX API account. The maximum leverage ratio available also differs by account type, from 1:500 for the ZERO account to 1:200 for the FIX API account.
The ZERO and STANDARD accounts are suitable for beginners or traders with smaller volumes, as they have lower initial deposit requirements. The ECN and FIX API accounts are more geared towards experienced traders or those who need higher leverage ratios. The CENT account is suitable for traders who want to try out micro-trading with smaller amounts.
Leverage
CXM Trading offers a maximum leverage of 1:500 for most of its account types. However, high leverage also comes with higher risks, as larger losses can be incurred if trades go against the trader.
Trading Platform
CXM Trading offers only one platform option which is the popular MT4 platform. It offers advanced charting tools, user-friendly interface and a social trading feature. However, the company does not provide any proprietary platforms which may be a disadvantage to some traders. Also, the platform customization options are limited.
Deposit & Withdrawal: Methods and Fees
CXM Trading offers a variety of deposit and withdrawal methods to its clients. For bank wire transfers, the processing time is 2-5 business days, with no commission charged for either deposits or withdrawals. For crypto deposits and withdrawals, the available currencies are BTC, ETH, BCH, and USDT, with processing times ranging from instant to 1 working day. However, crypto deposits and withdrawals have a 1% commission fee. Stablecryptos, such as USDT, have no commission and offer instant processing time for both deposits and withdrawals. Lastly, UnionPay allows for instant deposits in RMB, with no commission charged. However, withdrawal processing times can take 1-5 business days. It should be noted that there is a relatively high minimum deposit and withdrawal amount for all methods.
Social Trading
CXM Trading's social trading platform empowers you to either replicate the strategies of top-performing traders or attract followers to profit from your trading expertise.
Customer Service
CXM Trading provides its clients with 24/5 contact form andemail customer support. This means that clients can reach out to the support team via email at any time from Monday to Friday and receive a response within a reasonable timeframe. However, CXM Trading does not offer live chat or phone support, which can be a disadvantage for traders who prefer real-time assistance.
Conclusion
In conclusion, CXM trading is a forex and CFD broker that provides traders with a range of trading instruments, including forex pairs, stocks, cryptocurrencies, indices, metals, and energies. The broker offers several account types, including Cent, Standard, Premium, ECN, and FIX API accounts, each with varying minimum deposit requirements and leverage levels. CXM trading also provides a range of deposit and withdrawal options, including bankwire, cryptocurrencies, stablecryptocurrencies, and UnionPay.
Frequently Asked Questions (FAQs)
- Is CXM Trading a regulated broker?
- Yes. It is regulated by FCA and offshore regulated by FSC.
- What types of trading accounts does CXM Trading offer?
- It offers five types of trading accounts, including Cent, Standard, Premium, ECN, and FIX API accounts.
- What trading platforms does CXM Trading support?
- It supports the popular trading platform MetaTrader 4 (MT4) and also offers social trading functionality.
- What financial instruments can I trade with CXM Trading?
- It offers a range of financial instruments to trade, including forex pairs, stocks, cryptocurrencies, indices, metals, and energies.
2022-12-16 18:47
2024-06-18 10:34