CMTrading vs IronFX - Fees Review included
Which broker is better CMTrading or IronFX? Our expert assessment conducted according to TU’s own methodology showed that CMTrading is one of the top brokers in the financial market with the TU Overall Score of 4.24 out of 10. IronFX is one of the top brokers in the financial market with the TU Overall Score of 7.64 out of 10. Find out more about TU Overall Score.
| Feature | CMTrading | IronFX |
|---|---|---|
Overall |
1.9 |
3.5 |
2.1 |
2.1 |
|
1.9 |
2.9 |
|
1.6 |
4.2 |
|
Investment Instruments |
1.3 |
4.6 |
Platforms and Charting Tools |
1.8 |
4.4 |
Deposit and Withdrawal |
2.4 |
3.7 |
Research |
2.3 |
3.9 |
Education |
2.1 |
4.7 |
Support |
2.4 |
3.9 |
Bonuses |
1.4 |
4.8 |
|
|
|
CMTrading vs IronFX: Pros and Cons
The CM Trading broker has been providing financial services in the international Forex market since 2012. The company is focused on working with active traders and provides optimal trading conditions. CM Trading allows advisors, provides a vast array of instruments for market analysis, and its seasoned professionals always have your back. CM Trading is regulated by the FSCA (Financial Sector Conduct Authority of South Africa) and the FCA (Financial Conduct Authority of Seychelles).
The IronFX broker has been serving clients globally for over 10 years. It offers terms for both active and passive income. The company is registered in Bermuda, and there are no regulatory bodies and no licenses. During its tenure, the broker has received over 30 awards but doesn’t provide data on nominations. When asked about regulation, the broker's support service says that there are several licenses, including the permits of the CySEC (Cyprus) and FCA (Great Britain) regulators. Indeed, a detailed analysis reveals inconsistencies, which are described in more detail in the "Security and protection for clients of IronFX " section. Please note, that the absence of a license means that there is no protection against a broker not fulfilling its obligations and that there is no guarantee of protecting the interests of investors.
| CMTrading | IronFX | |
|---|---|---|
| Overall Pros | A vast array of trading accounts, including ECN accounts and an Islamic account. | wide range of trading assets |
| The presence of a service for copying transactions, which allows you to receive passive income. | variety of bonus programs and promotions | |
| Tons of training materials and instruments for market analysis. | ||
| Segregated accounts are used to store clients’ funds and the broker does not have access to them. | ||
| For trading, you can use built-in advisors or those offered by the MT4 platform. | ||
| Fast registration procedure on the site. | ||
| Demo account availability. | ||
| Overall Cons | The minimum deposit amount is 250 EUR or USD, which is not always a top-tier option for beginners. | Poor regulation |
| Trading accounts can be opened in only two currencies: euros or US dollars. | the information published on the site is incomplete | |
| The broker offers a small number of payment systems for deposits and withdrawals. | there are frequent slippages | |
| periodic delay in withdrawing funds | ||
| High spreads and ECN trading fees |
CMTrading vs IronFX: Safety and Regulation
| Regulated By: | CMTrading | IronFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
FSCA, FCA (Seychelles) |
Bermuda - registration number 51491 |
CMTrading vs IronFX: Trading Conditions
| Trading Conditions | CMTrading | IronFX |
|---|---|---|
Minimum Deposit |
$250 |
$50 |
Trading Platforms |
MetaTrader 4, Sirix, mobile applications for Android and iOS, Web version for trading from a browser |
MetaTrader 4, WebTrader |
Max Leverage (Futures) |
1-200 |
1-1000 |
Supported Markets |
Currency pairs, indices, cryptocurrencies, commodities, CFDs |
Currency pairs, stocks, metals, indices, futures, commodities, and cryptocurrencies |
Trading assets |
150+ |
300+ |
Trading Accounts |
Bronze Account, Silver Account, Gold Account, Premium Account, ECN Accounts, Islamic Account |
Micro, Premium, VIP, Zero Fixed, No commission, Zero Spread, Absolute Zero, demo account |
Base Account Currencies |
USD, EUR |
USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK JPY, BTC, PLN, and CZK |
CMTrading vs IronFX: Fees
Forex Trading Fees
| Fee | CMTrading | IronFX |
|---|---|---|
Standard Account EURUSD Average Spread |
1.50 pips |
1.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$0 |
Zero Spread account - $13.5/Lot |
ECN Account EUR Average Spread |
0,2 pips |
0.0 pips |
CFD Trading Fees
| Fee | CMTrading | IronFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | CMTrading | IronFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
Wire Transfer - 2% on exchange rate only for Nedbank; Debit or credit card/Electronic wallets/Crypto - 0% |
No |
Withdrawal Fee |
Wire Transfer - $20-$50.99 fees $2 $51-$299.99 fees $5 $300+ fees $8; Ozow (Only ZAR), Mpesa (Only KSH) - Conversion Fee 4%; Skrill/Neteller 0%; Debit card - 0% Credit card - 4%, Crypto - 4% |
No |
Inactivity Fee |
No |
3% ‘no trading’ fee when a trader has deposited and requested to withdraw funds without ever entering one trade |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
CMTrading vs IronFX: Trading Assets
| Asset Name | CMTrading | IronFX |
|---|---|---|
Overall |
150+ |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
CMTrading or IronFX: Investment Programs
| Asset Name | CMTrading | IronFX |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: IronFX or CMTrading
| CMTrading | IronFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
SiriX |
No |
|
|
|
CMTrading vs IronFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | CMTrading | IronFX |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
no |
CMTrading vs IronFX: Research
| Research Type | CMTrading | IronFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
No |
CMTrading vs IronFX: Education
| Education Type | CMTrading | IronFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
No |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
IronFX vs CMTrading: Support
| Support Features | CMTrading | IronFX |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
CMTrading vs IronFX: Forex Bonuses and Promo
| Promo | CMTrading | IronFX |
|---|---|---|
Forex Bonus |
No |
"100% Unlimited Sharing Bonus" The "40% Power Bonus up to $4,000" "20% Iron Bonus up to $2,000" |
Affiliate Program |
For teachers and colleagues in the field. The program is open to traders who have experience in training traders, as well as EA developers, business referrers, and signal providers; For professionals in fund management. Traders with extensive experience in the stock markets, financial managers, or investment consultants can become partners. The partner should have its own customer network. |
“Introducing Broker” (IB). Opening a personal account as a broker's representative gives you an advantage in the form of extra bonuses, contests, more favorable trading terms, and rebates. |
Other Promos |
||
|
|
|
Top 5 Reviews on IronFX
-
Comment
I would like to leave a review of ironfx. This company makes me happy! I’ve been working with them for six months now. It is profitable to do business with them! It’s hard to find such good conditions! Trading has already brought me $2,400. I withdraw it without delays. The user account is very convenient. The broker is priceless!
-
Comment
I've been piping for 5 months with this company. I can note that trades have never been canceled. And in general, IronFX does not interfere with trading. There were no problems with withdrawals. It’s an ordinary normal company, I didn’t find anything critical in it. Trading conditions correspond to the market.
-
Comment
I’ve been trading with Iron FX for a while now and have had no problems so far. Among the advantages are good performance and a good personal manager. I’m trading here with a small deposit, but I think that there won’t be any problems and I’ll deposit a decent amount to earn more.
-
Comment
I've been trading with ironfx for almost a year now. Summing up, I would like to express my gratitude to the company’s managers for their responsiveness, and to the company as a whole for offering good conditions and supporting its clients! Don't stop, go forward, and I'm with you.) Good luck!
-
Comment
I started trading with IronFX on the account for novice traders. A small deposit allows you to open trades with a volume that reduces the risk of losses. But trading is real. That is, you trade and learn at the same time. So far, I have had no complaints against the broker regarding trading. I plan to withdraw my funds later.
Top 5 Reviews on CMTrading
-
Comment
I think that CMTrading is reliable and has good conditions. The company has been offering brokerage services to access the Forex market for a very long time. CMTrading has created good conditions for both experienced and novice traders. Its trading platform is fast, spreads are low, and support service is professional.
-
Comment
CMTrading draws quotes. I have already noticed several times that suddenly, out of the blue, spikes that destroy my stops appear. I wrote to technical support several times, but the answer was the same - everything is in accordance with the regulations. And CMTrading doesn’t even take responsibility for the fact that no one else has such quotes.
-
Comment
Cmtrading is a scam. When I first started my trading journey, I encountered fake traders who offered me their advice. Initially, they showed income that seemed inexplicably high. I think that this happened due to manipulations with the balance, thereby constantly pushing me to deposit large amounts. Then they gave advice that led to the loss of all capital. Don't deal with Cmtrading.
-
Comment
I am very disappointed with CMTrading. I am trying to get my money back that is stuck with this broker and so far there is no success. CMTrading treats clients as providers of money. At first, my complaint regarding the cancellation of profits on 5 orders was rejected. Now CMTrading does not want to withdraw my deposit and requires me to pass verification, although I passed it three times.
-
Comment
CMTrading looks like a good broker. But this is only when you trade on a demo account. As soon as you switch to a live one, the conditions immediately change significantly. Limit orders do not work during strong market movements. I set a limit order to sell the EUR/USD pair. The price touched my order twice, but it never opened. I think that I need to change CMTrading to another broker.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.