Forex Trading Africa annually reviews forex brokers regarded as the best in the world who accept South African traders. We provide valuable information on the platforms, analysis and tools as well as pricing for you to base your decision on when choosing the right broker for your trading needs.

To trade forex in South Africa, you need to open an account with a regulated broker. Forex is traded over-the-counter through a network of brokers and financial institutions as opposed to a centralised exchange. Forex is a risky instrument to trade. You can minimise the risk by trading through a regulated forex broker who you can trust.




Founded in 2012, CM Trading is a South African-based forex, CFDs, index and commodity trading broker that is making a name for itself on the global markets. CM Trading is the brand name of Global Capital Markets Trading (GCMT) and is based in Johannesburg, South Africa.

CM Trading is a MetaTrader broker which means forex traders happy to trade off one of the world’s most popular electronic trading platforms will find they have all the necessary analytics and tools at their disposal to trade effectively, whether they are beginner, intermediate or advanced traders.

CM Trading also offers the CopyKat which is the easiest platform to use to watch and learn how to trade from the experts. CopyKat trading is performed on autopilot mode, you simply choose the right experts to follow whose trades you want to copy. The CopyKat system automatically does everything for you.

CM Trading is regulated by the Financial Sector Conduct Authority (FSCA) which is a top-tier authority. Along with features such as Guardian Angel and a stringent adherence to the Forex Privacy Policy, CM Trading is considered a safe broker to use by forex traders in South Africa.

CM Trading says on its site that it was created by traders for traders. It’s a decent broker and forms part of a global parent company. The company has been the recipient of 19 prestigious industry awards. Most recently it was received the Best Financial Broker Africa 2020 and the Fastest Growing Online Broker Middle East 2019.







Parent company

Global Capital Markets Trading Ltd (Seychelles)


Based in

Johannesburg, South Africa


Regulation and license

CM Trading is regulated by the Financial Sector Conduct Authority (FSCA) under the name Blackstone Marketing SA (Pty) Ltd. CM Trading or Global Capital Markets Trading (GCMT) is a representative of the parent company.

FSCA is the regulatory body for the financial markets in South Africa.


Does CM Trading accept forex traders in South Africa?





CFDs expirations





Best forex broker for

CM Trading is recommended for both beginners, intermediate and advanced traders who are interested in trading multiple financial assets via the popular MetaTrader platforms. CM Trading also appeals to forex traders who are interested in copying the trades of more experienced traders using the CopyKat platform.


Trading platform

MetaTrader 4

Sirix WebTrader

CMT CopyKat Social Trading Platform

CM Mobile trading app


Web-based trading platform



Mobile trading platform



Minimum to open

Minimum deposit US$250 (R3 740)* on Mini account

Minimum deposit US$1 000 (R14 950)* on Standard account

Minimum deposit US$5 000 (74 740)* on Executive account

* Conversion rate at December 2020


Account currency

US Dollar

South African Rand



Leverage up to 400:1



Typical spread of 1.5 pips on EUR/USD

Standard lot size is 100 000 units


Scalping and hedging



Electronic Communication Network (ECN)


Trading on ECN with CM Trading provides you with access to razor sharp spreads starting from 0.1 pips on EUR/USD and a 200:1 leverage ratio.


Deposit methods

Wire/bank transfer

VISA or Mastercard debit/credit card



Online Naira


Withdrawal methods

To withdraw funds from a CM Trading account, visit the CM Trading website, open up the Withdrawal link and complete the online withdrawal request form. Your request is sent to the Finance Department and you’ll be contacted by them via email within 24 hours.

CM Trading offers Gold and Premium account holders a VIP CMT debit Mastercard linked to their trading account. The debit card can be used in restaurants, hotels and stores to pay for services or goods. It can also be used to withdraw money from ATMs.


Live accounts open

Over 1 million registered clients (2020)


Most recent awards

CM Trading has received more than 10 prestigious industry awards since it was founded in recent years. This includes the Best Financial Broker Africa 2020 and the Fastest Growing Online Broker Middle East 2019.




CM Trading is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. It is considered safe to use by forex traders in South Africa and abroad.

FSCA is an independent institutions established by statute to oversee the South African non-banking financial services industry. It regulates the Johannesburg Stock Exchange (JSE), the largest exchange in the African continent.

FSCA operates in much the same way as regulatory bodies in Europe and the UK. This means that investors can be certain their deposits are safe and segregated from operating capital in major Tier 1 banks.

CM Trading also offers a feature called Guardian Angel which warns of any major changes in the market instantly.

In addition to following strict regulatory requirements to safeguard clients’ funds and providing a reliable trading environment, CM Trading maintains the highest industry standards in basic data encryption and server security.


Market Leading Insurance

CM Trading partners with a Civil Liability insurance programme for a limit of €5 million with includes market leading coverage against errors, omissions, negligence, fraud and various other risks that may lead to financial loss.


Accounts held with major global banks

CM Trading’s strength and international standing enables the company to provide liquidity through major global banks.


Segregation of funds

Clients’ funds are received and held in separate bank accounts from those used by CM Trading. These funds are off the balance sheet and cannot be used to pay back creditors in the unlikely event CM Trading goes into default.


Negative balance protection

CM Trading provides its clients with negative balance protection which means that even in highly volatile trading conditions when margin calls and stop-outs do not function correctly, no client is responsible for paying back a negative balance.




The Top 10 benefits of trading financial instruments through CM Trading are:

  1. Personal account manager
  2. Daily market analysis
  3. Free forex trading signals
  4. Social trading and Copytrading platforms
  5. Unlimited access to educational webinars
  6. On-demand video training guides
  7. Regulated by FSCA
  8. Negative Balance Protection
  9. Guardian Angel Plugin for MT4
  10. 24/5 customer support




CM Trading offers leverage up to 400:1.

Leverage refers to how much of a position a trader can control with funds allocated to it by the broker. A leverage of up to 400:1 means a CM Trading client can control a position of US$40 000 with only US$100 of his or her own funds.


Competitive spreads and fees


All accounts offered by CM Trading are spread only, meaning they are commission-free.

  • Spreads as low as 1.2 pips for EUR/USD on the Silver account
  • Spreads as low as 0.9 pips for EUR/USD on the Gold and Premium accounts


Web-based and mobile trading


CM Trading is a MetaTrader broker. Clients have the choice of MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both popular electronic trading platforms can be accessed via the web or via a mobile device.



CM Trading offers an easy-to-use app for trading forex remotely. It is available for Android phones and iPhones and can be downloaded from the respective app stores. The CTM app allows clients to deposit, withdraw and transfer funds on the go and provides easy mobile access to the trading platforms as well as analytics, tools and educational videos.


Derivative trading instruments


CM Trading offers multiple derivative trading instruments with a focus on forex, indices and CFDs. A derivative is a contract between two or more parties where the value of the underlying asset is agreed upon and settled when the contract is closed. Parties do not take ownership of the financial asset, they merely speculate on price changes.

The most common derivatives are Futures, Forwards, Options and Swaps. Most derivative instruments are traded over-the-counter (OTC) meaning trading bypasses a central exchange.


CM Trading product portfolio

Forex 50 plus : majors, minors and exotics
Cryptocurrencies Including Bitcoin, Ethereum, Ripple and Litecoin
Commodities Including cocoa, coffee, copper, cotton and sugar
Metals Including platinum, gold and silver
Energies Including brent and crude oil
Indices Access global indices including USA500 and UK100
CFDs Expiration rollovers Access to S&P, NASDAQ, DAX and DOW


Free demo account


CM Trading offers beginner forex traders a free Demo account that they can use to hone their trading skills before trading on a live account with real money. Demo accounts are instantly available when a new client opens any type of account with CM Trading.

There is zero risk trading forex with a demo account because clients only use ‘fake’ money to open positions. CM Trading clients then progress to a Mini trading account when they feel confident trading with their own money.


MetaTrader trading platforms


CM Trading is a MetaTrader broker which means its clients have access to one of the world’s most popular electronic trading platforms. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) offer virtually all the charting, analysis and indicators a forex broker in South Africa needs, regardless of level of expertise.

MT4 and MT5 are available for desktop, web trading, multi-terminal trading and trading on mobile devices. This includes Android, iPhone and iPad.

CM Trading also offers:

  • Sirix platform
  • CopyKat platform


Multiple analysis and trading tools


CM Trading offers clients a wide choice of analysis and trading tools.

The most popular are:

  • Fundamental analysis
  • Technical analysis
  • Sentimental analysis
  • Forex daily signals
  • Support resistance
  • Expert Advisors
  • Free education series
  • Guardian Angel
  • eBook
  • Social Trading
  • Economic Calendar
  • Daily forex news
  • CM Trading signals


Educational resources


CM Trading shows a real commitment to educating its clients on trading the financial markets by producing a great selection of educational videos and webinars. CM Trading offers a 3-part LIVE Masterclass designed by its Chief Trading  Strategist as well as a host of training videos.

The webinars and training videos offer clients valuable industry tips on trading strategies and market insights. These are designed to improve clients’ trading knowledge and help them hone their trading strategies. Every live webinar is followed by a Q&A session where viewers can put questions to the presenter.


Learn for free


CM Trading offers a unique 3-part LIVE education series for its clients that’s aimed to take forex traders from beginners to pro. CM Trading’s popular Masterclass was designed by the company’s Chief Trading Strategist, Fred Razak, and is an in-depth online webinar that walks you through the steps of trading the financial markets successfully and with confidence.


CopyKat trading


CM Trading offers the CopyKat platform to its clients. This popular trading system allows forex traders to copy the market’s Top 100 traders without any previous knowledge of the markets. CopyKat allows CM Trader’s clients the opportunity to watch, learn and then copy the complex strategies used by successful traders in the system.

Copycat trading is also known as social trading or coattail investing.


Islamic account


CM Trading offers an Islamic account that is only available to clients of Muslim faith. Forex Islamic accounts are also known as swap-free accounts because there is no swap or rollover interest on overnight positions which is against the Islamic faith. The Islamic account applies to all types of accounts offered by CM Trading (except for ECN).




CM Trading rewards first-time customers with a number of bonuses. These include:

  • make a first-time deposit and receive a free ebook
  • deposit $500 and get up to a 20% bonus of up to $1,000
  • deposit $1000 and you can apply for a free Intercash International debit card




CM Trading offers 4 types of trading accounts:


Minimum deposit US$250 / R3 730*
Leverage up to 400:1
Spreads types Regular
Includes Demo account

Islamic account

Daily market review

Weekly market review

CM Trading eBook



Minimum deposit US$1 000 / R14 930*
Leverage up to 200:1
Spreads types As low as 1.2 on EUR/USD
Includes Demo account

Islamic account

Daily market review

Weekly market review

CM Trading eBook

1 risk-free trade

Personal assistant




Minimum deposit US$10 000 / R150 000*
Leverage up to 200:1
Spreads types As low as 0.9 pips on EUR/USD
Includes Demo account

Islamic account

Daily market review

Weekly market review

CM Trading eBook


3 risk-free trades

Personal assistant

Volume cash back

VIP CMT debit card



Minimum deposit US$100 000 / R1.5 million*
Leverage up to 200:1
Spreads types As low as 0.9 pips on EUR/USD
Includes Demo account

Islamic account

Daily market review

Weekly market review

CM Trading eBook


3 risk-free trades

Personal assistant

Volume cash back

VIP CMT debit card

Customised account

Trading specialist

Access to Trading Room

Special offers

VIP CMT debit card



Note: US$ to Rand conversion as at December 2020




CM Trading has proven itself as a safe and reliable broker for forex traders in South Africa. The brokerage was recently awarded the Best Financial Broker Africa 2020. CM Trading has received this award for 3 years in a row. The brokerage is based in Johannesburg, South Africa and is regulated by FSCA which is a top-tier authority.

CM Trading offers competitive spreads and no commission on deposits. Its pricing is on par with the market average and its product portfolio is varied. If you are content to trade forex via one of the popular MetaTrader platforms, CM Trading offers everything you need to successfully trade currency pairs, indices and commodities on the global markets.

An added benefit is CM Trading’s commitment to educating its clients on trading risky financial instruments such as forex and CFDs. In addition to watching a host of online trading videos, clients can participate in CM Trading’s 3-part LIVE webinar hosted by its Chief Trading Strategist who takes beginners through the complicated steps of developing a sound trading strategy and trading financial instruments successfully and with confidence.




Trading foreign currencies on margin carries a high level of risk and it may not be suitable for all traders and investors. Forex is a highly leveraged financial instrument and these high risk stakes can result in you losing a substantial amount of money. Consider your appetite for risk before trading forex using real money on a live account.