CM Prime

Global multi-asset brokerage CMS Prime announces the appointment of Omar Qaryouti as its Chief Operating Officer. CM Prime offers consistent and stable pricing, acquiring from over 100 of the world’s leading banks and many alternative market makers, providing a concrete source of liquidity and direct ECN environment to our traders. Trade Forex, Indices, Commodities

Deposits and Withdrawals

CMS Prime offers a variety of payment methods for funding trading accounts, including Wire Transfer, Card Payment, Perfect Money, etc.

Certain deposit methods, such as credit cards and Perfect Money, offer instant funding.

In terms of withdrawals, withdrawal requests are typically processed within a 24-hour timeframe.

However, there is not much information regarding the brokers deposit and withdrawal processes. Considering that CMS Prime is registered in an offshore zone, we strongly advise exercising caution when entrusting your funds to this broker.

Account Types

CMS Prime provides a range of account options designed to suit the needs of various traders. Regardless of the chosen account type, all offerings ensure access to a diverse array of financial instruments. CMS account types are Standard, Premium, and ECN, each of them offering different trading conditions to meet different trading expectations.

The minimum deposit to fund the Standard account is $500. For Premium it is $10,000 and $20, 000 for ECN account respectively.

The highest available leverage is 1:500 (Standard accounts). For Premium and ECN accounts the leverage is lower: 1:300 for Premium and 1:200 for ECN.

There are also other differences between the account types that shouldn’t be overlooked.

Trading with CMS Prime – Is it a good idea?

So, with all things considered, should you use CMS Prime trading platforms for your financial endeavors? Will it be a reasonably safe decision to make?

For a more generalized look, let’s do a quick round-up of the most important details about the broker:

CMS Prime is a Forex trading broker that offers instruments from other markets as well. The broker claims to have a proper and legit financial license from St. Vincent and the Grenadines Financial Services Authority, as well as the Vanuatu Financial Services Commission, yet we have clearly pointed out that these are mockup licenses that don’t really have any regulatory power.

Then we examined the website and admitted that it looks quite decent. Yet some of the basic details like commissions and spreads were very vague, not allowing us to get a better view of the broker’s trading terms and conditions. The same can be said about retail accounts.

As for trading terms and conditions, the maximum leverage is way too high and dangerous, whereas the minimum deposit requirement does something completely opposite of what the broker wanted to achieve: it repels entry-level traders.

Trading terms and conditions

First, we’ll look into the commissions’ department. Now, we were very enthusiastic to find out whether any CMS Prime account had low or high commission rates, yet we only found out that there’s the option to get a commission-free account while the one with commissions doesn’t really specify the charged amount.

As for spreads, we have exactly the same thing to say: CMS Prime offers an ECN platform, which is known for its super-shallow spread quotes, which leads us to believe that the account responsible for this platform will charge lower spreads. Yet exactly how much is beyond our knowledge.

When it comes to the leverage, CMS Prime goes a little bit overboard by offering a 1:500 multiplication rate. We’ll explain why this is dangerous in the final chapter of our review.

Finally, we’ll take a look at which deposit and withdrawal methods you can use at CMS Prime. As we have discovered during our CMS Prime broker review, there are four main ways to make deposits and withdrawals, including credit cards and e-wallets.

To make but a short synopsis of what we’ve just said, we’re dealing with a Forex broker that clearly has some issues with transparency, as well as its legal measures.