TradersCM offers its clients several account types. It claims that all of them are commission-free and provide true ECN/ STP connectivity (which we doubt), variable spreads, and high leverage levels (up to 1:500) on the MetaTrader 4 platforms.
Besides, it provides Islamic (swap-free) services for Muslim clients on Mini accounts.
While the initial investment required to open an account with TradersCM seems ok, the spreads offered are way too high, starting out at 2.4 pips for the EUR/USD pair. Even if you deposit $5 000, the broker offers spreads averaged 1.7, while most brokers provide spreads within the range 1.0 – 1,5 for this pair. Nonetheless, the worst part is that TradersCM is not authorized to provide brokerage services. Besides, it does not allow scalping.
The Company. Security of Funds
Traders Capital Markets (TradersCM) is a UK-based forex and CFD broker that uses the MT4 platform. All the magical words, to attract traders, like DMA(Direct Market Access), STP, ECN, are present on this broker’s website.
Furthermore, according to the information on this website, TradersCM is a brand owned and operated by Traders Capital Markets Pvt Ltd.., and the broker claims to be a registered by both UK’s FCA and Australia’s ASIC. Unfortunately, none of this is true, as we checked in the online registers of both regulators.
In addition, when we downloaded its MT4 demo platform, it turned out to be provided by another company – TradeFXM Limited, a private limited company based in UK, which also is not licensed by FCA. We cannot tell which of the two companies operates the brand, but either way – this broker is highly suspicious, as it makes false claims.
Considering the above said, we would advise you to stay away from TradersCM and choose among brokerages duly regulated by UK’s FCA, Australia’s ASIC or CySEC.
Like most brokers, TradersCM supports the widely used MetaTrader 4 (MT4).
tools MT4 Terminal is a perfectly equipped with all the tools traders need. It offers ease of use, advanced charting package, technical analysis indicators, back-testing capabilities, different order options, and the chance to create and use automated trading programs (Expert Advisors).
Methods of Payment
TradersCM offers its clients the following payment methods: bank wire transfer, credit/debit card, and e-wallet Skrill, Neteller, WebMoney.
TradersCM Review Conclusion
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about TradersCM Review.