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Do you know that to open an account for trading activities at CM Trading, the CM trading minimum deposit is $250? In general, it is not easy to find a reliable list of CM trading minimum deposits in the global and local markets, especially when it comes to a complete list from a reputable source.
So, below is a detailed review of this regulated forex brokerage and its minimum deposit. That will help traders to make a more informed decision regarding how to make deposits in their accounts.
About CM Trading
The founders of CM Trading have years of experience in online trading, so they created an online one-stop-shop platform for efficient trading in the financial market. In addition, CM Trading also offers its traders to trade with commodities, forex, and indices.
A key goal of CM Trading is to provide its traders with competitive spreads, effective services, and, most importantly, exceptional execution of their trades.
In addition, CM Trading ensures that its traders have an enjoyable experience with them. Also, they want their customers and business partners to have a beneficial relationship; therefore, CM Trading strives to provide professional and reliable services to its clients as a global trading platform.
What is a CM Trading minimum deposit?
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CM Trading requires a minimum deposit amount of $250 to open a trading account. However, the amount of minimum deposit to open an account may vary for the first-time trader depending upon the type of account selected by the trader. At the same time, it requires 72 hours for the activation of the deposits.
CM Trading deposit fees and payment methods
Traders can deposit into their CM Trading account through the following deposit methods:
- E- Wallets such as Neteller, FasaPay and M-Pesa.
- Bank wire transfer
- Debit and credit cards
In the case of wire transfers, traders must provide the documentation of payment. Whereas CM Trading requires the front and back signed copies of the debit/credit card in debit and credit cards.
On the backside of the copy, the CV code should be hidden, and on the front side copy of the card, the trader should mention their name, card expiry date, and first and last four digits of the card.
Also, CM Trading allows the traders to deposit their funds into the live trading account without any fees. Generally, payment processing is done on the same working day.
Additionally, there is an option for a local bank to make deposits at the CM Trading platform for the residents of Dubai.
However, the payment method you use to make deposits must be authorized under your name.
Alternatively, your bank signed and stamped official letter will be accepted if your name is not mentioned on the card. Otherwise, you also give a bank statement that shows your name and card number. Except for these, CM Trading allows the trader only to send a copy of the card with your name and the last digit of your card number.
Moreover, the time for the activation of the deposits may vary according to the type of payment method you select to fund your trading account. Such as:
- If you deposit by debit or credit card using the CM Trading website, the activation process of the deposit starts immediately.
- If you deposit e-wallets, then CM Trading requires up to 1 hour to activate the deposit.
- If you deposit a bank via bank wire, cash, ATM, and EFT, the activation process will take two to three business days.
However, the withdrawal method of CM Trading is the same as its deposit method. Therefore, you have to select the withdrawal option and fill in the required information in the online request form for the withdrawal.
The minimum withdrawal amount is $20, and usually, the finance department requires three to four working days to answer your payment request.
In addition, CM Trading requires a withdrawal fee that may vary according to the withdrawal method and the size of the amount of the trader. CM Trading allows the traders to utilize USD and Euro as their deposit currencies.
Moreover, to make a deposit, traders should first select the type of currency.
However, it is currently unknown if the traders charge conversion fees when depositing funds to their trading account in ZAR.
So, it is important for the traders to first take advice from the customer support desk of the broker before depositing funds into their trading account.
How to deposit a minimum amount: a step-by-step guide?
The following steps explain how to fund your account with CM Trading. You can follow these simple and accessible steps to deposit your funding in the CM Trading account:
- On the broker’s website, click the Accounts section
- You can log in here
- To make a deposit, click the “make a deposit” option
- Select the method of deposit that suits your needs
How safe is my deposited money with CM Trading?
The CM Trading holds segregated accounts for any funds it receives from traders. In addition, CM Trading uses a tier-1 bank option for additional security. Having a tier 1 rating indicates how healthy and strong the bank is financing.
How can CM Trading benefit from Tier 1 banks?
The Tier bank is among the safest and most secure regarding client capital. It describes the financial strength of any bank.
What does it mean to deposit funds in a Tier bank from CM Trading?
If you have to deposit money, even if it is minimum, it goes directly into the Tier bank, which means your money is safe in the bank. It is applicable even if the CM Trading system goes out of business in some cases. This is because the Tier bank has enough capital that it accomplishes your withdrawal requests in all matters.
Hence, you can say that the deposit in CM Trading is safe and secure, even if it is a minimum one.
But, there are a lot of risks while trading in the financial efforts. It mostly happens when you haven’t put much effort into researching the market or are a beginner but invest more than you can handle.
Pros and Cons
CM Trading has both advantages and disadvantages at the same time. Here are all pros and cons that you may face while depositing your money
Pros
- The broker has to segregate the client money from its funds
- Islamic account is available to facilitate all nations
- The minimum deposit is only 250 USD or EUR to apply for a first-grade account
- The CM Trading is regulated by FSCA that ensures safety
- A variety of payment methods are available.
Cons
- The deposit fees and withdrawal fees are variable according to the money.
- Inactivity of fee-charging
- The broker provides a limited range of instruments to trade
Bottom line
While funding the CM Trading account, the minimum deposit is 250 USD or EUR, accessible to everyone, whether a beginner or experienced trader. Also, with CM Trading, you have many options for payment methods, and all the money you deposit is safe.
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