General Information
Capital Market Solutions Inc., operating under the CMS Prime brand, is a regulated global Forex broker offering trading in forex, commodities, indices, and stock CFDs to over 100 countries. It operates on popular platforms like MetaTrader 4 and MetaTrader 5, providing a secure trading environment. CMS Prime's product range includes over 40 currency pairs, commodities such as gold and oil, various indices, and stock CFDs, available through advanced trading platforms that cater to diverse trading strategies.
The broker offers three account types: Standard, Premium, and ECN. The Standard account requires a $500 minimum deposit, the Premium account $10,000, and the ECN account $20,000 for professional traders. Each account provides specific features tailored to meet individual trading needs and preferences.
Pros and Cons
CMS Prime, a regulated retail forex broker, offers both advantages and disadvantages for traders. Key benefits include a trustworthy and secure trading environment, a diverse range of trading instruments such as forex, commodities, indices, and stock CFDs for market diversification, and various account types to suit different trader needs and experience levels. The platform also supports popular trading systems like MetaTrader 4 and MetaTrader 5 and provides dedicated customer support during business hours.
However, CMS Prime lacks transparency in certain areas; it does not disclose specific information such as the expiry date of its license or contact details, which could be a concern for some traders. Additionally, the absence of detailed spread information may complicate the assessment of pricing competitiveness. Traders considering CMS Prime should weigh these pros and cons carefully.
Is CMS Prime Legit？
CMS Prime is a retail forex broker that is regulated by the Vanuatu Financial Services Commission. It holds a Retail Forex License with license number 40437, issued to Capital Market Solutions Inc. The effective date of the license is August 21, 2020.
Market Instruments
CMS Prime offers a variety of trading instruments for its clients. Here is a breakdown of the trading instruments available:
1. Online Forex Trading: CMS Prime allows clients to trade more than 40 currency pairs in the online forex market. Traders can access these currency pairs through popular trading platforms like MetaTrader 4 or MetaTrader 5. The liquidity pool is sourced from top tier liquidity providers, ensuring competitive pricing and market depth.
2. Commodities Trading: CMS Prime provides online trading of essential commodities such as Gold, Silver, and Oil. Traders can engage in spot contracts or future contracts. Spot contracts have no expiry date, while future contracts have an auto-roll functionality, allowing for continuous charting and technical analysis.
3. Indices CFDs: Indices are used to track the performance of economies, industries, or sectors. CMS Prime offers trading in a diverse range of indices across the US, Europe, and Asia. Clients can trade indices as cash (spot) contracts or future contracts. Similar to commodities, future contracts have an auto-roll functionality, providing seamless trading and continuous charting.
4. Stock CFDs: CMS Prime allows traders to access a growing list of equities as stock CFDs. Stock CFDs enable clients to buy and sell stocks without owning the underlying assets. Traders can benefit from both rising and falling shares across various sectors such as Technology, Energy, Utilities, Healthcare, Industrial, and Consumer products. Leveraged trading is available, allowing traders to gain exposure to shares with a smaller amount of capital.
Account Types
CMS Prime offers a range of trading accounts to suit various levels of traders, each with unique features:
Standard Account: Requires a $100 minimum deposit with spreads from 1.2 and leverage up to 1:500. It offers swap-free trading for the first 14 days, no commissions, and supports both MT4 and MT5 platforms. Instruments available include Forex, Metals, Indices, Commodities, Shares, and CFDs.
Deluxe Account: With a $1,000 minimum deposit, this account provides tighter spreads starting at 0.8 and leverage up to 1:300. It also offers the first 14 days swap-free and supports comprehensive trading on MT4 and MT5 without commission fees.
VIP Account: Tailored for experienced traders with a $5,000 minimum deposit, offering the lowest spreads starting at 0.6 and reduced leverage of 1:200. This account starts accruing swaps from day one and facilitates trading on all standard instruments via MT4 and MT5.
ECN Account: Aimed at professional traders, this account requires a $20,000 minimum deposit and features spreads from 0.0 with leverage set at 1:100. It includes commissions on trades and provides access to all supported instruments on both trading platforms.
All accounts offer mobile trading capabilities, daily market reports, market execution with a stop-out level at 30%, and cater to different trader needs ranging from beginners to professionals looking for direct market access.
Pros and Cons
CMS Prime, a regulated retail forex broker, offers both advantages and disadvantages for traders. Key benefits include a trustworthy and secure trading environment, a diverse range of trading instruments such as forex, commodities, indices, and stock CFDs for market diversification, and various account types to suit different trader needs and experience levels. The platform also supports popular trading systems like MetaTrader 4 and MetaTrader 5 and provides dedicated customer support during business hours.
However, CMS Prime lacks transparency in certain areas; it does not disclose specific information such as the expiry date of its license or contact details, which could be a concern for some traders.
How to Open an Account？
To open an account with CMS Prime, please follow these steps:
1. Visit the CMS Prime website.
2. Click on the “Open Live Account” button, depending on whether you are opening an account as an individual or a company.
3. Fill in the required personal information, including your first name, last name, email address, and password. Confirm the password to ensure accuracy.
4. Provide your country of residence and select the corresponding country from the dropdown menu.
5. Enter your country code and telephone number in the designated fields. This is the phone number CMS Prime will use to contact you.
6. Choose the desired account currency from the available options (e.g., USD).
7. Read and acknowledge the risk warning that trading Forex & CFDs carries risks.
8. Review the provided information to ensure its accuracy.
9. Click on the “Submit” or “Open Account” button to complete the account opening process.
After submitting your account application, CMS Prime will typically review it and verify your information. Once approved, you will receive further instructions on how to fund your account and start trading. It's important to note that additional documentation, such as proof of identity and address, may be required to comply with regulatory requirements.
Leverage
CMS Prime offers traders the flexibility of high leverage up to 1:500.
Currency Pairs & Spreads
CMS Prime provides users with the opportunity to trade more than 50 currency pairs. Each trade involves 10,000 currency units. While the company does not charge transaction fees, there is a spread fee applied, the exact details of which are marked as floating and unknown. CMS Prime offers three account types: Standard, Premium, and ECN. The Standard account requires a minimum deposit of $500, offers spreads starting from 1.2 pips, and leverage up to 1:500. The Premium account requires a minimum deposit of $10,000, offers spreads starting from 0.8 pips, and leverage up to 1:300. The ECN account requires a minimum deposit of $20,000, offers spreads as low as 0.0 pips, and leverage up to 1:200. Each account type caters to different trading preferences and experience levels, providing traders with options that suit their needs.
Trading Platform Available
CMS Prime offers a comprehensive suite of trading platforms designed to cater to the needs of modern traders. The platforms include a newly launched Android App, WebTrader, MetaTrader 4 (MT4), and MetaTrader 5 (MT5), each equipped with unique features to enhance trading efficiency and experience.
Android App and WebTrader
These platforms mark CMS Prime's latest innovations, providing seamless access to Forex, Indices, Commodities, and Equities all in one marketplace.
Features include seamless transactions for easy deposit and withdrawal within the app, flexible account management, real-time tracking with live charts, in-chart trade settings for precision trading, efficient one-click trading, risk management tools, market insights with lists of top gainers and recommended picks, enhanced security with biometric authentication, and multi-language support covering nine languages.
An iOS version is announced to be coming soon.
MetaTrader 4 (MT4)
MT4 is renowned for its user-friendly interface and comprehensive analysis tools. It supports a wide range of asset classes including currencies, indices, commodities, and stocks.
Key features include live and demo accounts, one-click trading, a variety of order types, advanced charts and indicators.
The platform is available on PC, iOS, and Android devices.
It also supports Expert Advisors (EAs) for automated trading.
MetaTrader 5 (MT5)
As the next-generation multi-asset platform, MT5 offers an enhanced trading interface with an extensive array of analytical tools and indicators.
Similar to MT4, it supports live and demo accounts, one-click trading, various order types, advanced charts and indicators.
MT5 is accessible on PC, iOS, and Android devices.
It also facilitates EA trading.
Additional Services
CMS Prime provides a full FIX API solution that can integrate with MT4/MT5 or any other trading platform used by traders. This comes with a free coverage account for added convenience.
The service boasts benefits such as ultra-low latency, maximized trading revenue potential, lower operating costs, dedicated customer support, risk management tools, FIX APIs & Bridges for connectivity solutions.
Overall, CMS Prime's range of platforms ensures that traders have access to state-of-the-art tools necessary for effective trading in today's financial markets.
Deposit & Withdrawal
CMS Prime provides a flexible and convenient range of payment methods to fund your trading account, catering to a global clientele with various preferences. The options include:
Card Payment and Wire Transfer: These traditional methods are widely used for their reliability. CMS Prime accepts major currencies like USD, EUR, AED, and CNY for these payment types, and there is no deposit limit, offering flexibility for traders to fund their accounts according to their financial capacity.
Perfect Money and Tether: For traders preferring digital payments or cryptocurrencies, CMS Prime supports Perfect Money and Tether, providing a secure and fast way to transfer funds with the same accepted currencies as card payments and wire transfers (USD, EUR, AED, CNY) without any deposit limits.
Online Payment in Thai Baht: Specifically for traders in Thailand or those using Thai currency, CMS Prime offers an online payment option accepting THB with a generous deposit limit up to THB 1,990,000.
Online Payment in Vietnamese Dong: Another specialized service for traders using Vietnamese currency (VND), this method also features no deposit limit, ensuring that traders can invest as much as they need without restrictions.
Educational Resources
CMS Prime offers a comprehensive range of educational resources to assist traders in enhancing their knowledge and skills. One of the notable resources is the trading tutorial videos available in the CMS Prime trading academy. These videos cater to both novice and experienced traders, providing training on various topics. Whether you are new to trading or require assistance with specific concepts, the tutorial videos can be a valuable resource.
The trading tutorial videos cover a wide range of topics, categorized for easy navigation and a smoother learning process. Some of the topics covered include basic forex education, understanding chart formation patterns and candlesticks, forex trading indicators, and MT4 tutorials. These videos aim to provide a solid foundation in trading principles, technical analysis, and platform usage.
For traders who are new to the stock market, CMS Prime also offers an introduction to the stock market as part of their educational resources. This can be beneficial for those looking to expand their trading horizons beyond forex and explore other markets.
In addition to the tutorial videos, CMS Prime provides useful trading tools such as the Pivot Table Calculator, Fibonacci Calculator, and Profit/Loss Calculator. These tools can assist traders in performing calculations and analysis to support their trading decisions.
Trading Hours
Clients can use the client portal and website at any time, but the trading hours depend on the specific market. CMS Prime lists the opening hours for each asset in its product description, for example, Forex can be traded 24 hours a day, Monday to Friday.
Customer Support
Clients can reach out to the customer support team through email by sending a message to support@cmsprime.com. The customer support team is available from Monday to Friday, from 08 am to 06 pm. Additionally, clients can also contact CMS Prime via phone at +(971) 4 451 9328 during the specified business hours. The customer support team is dedicated to providing assistance and resolving any issues clients may have regarding their trading experience or account-related matters.
Significantly, you can contact them through live chat, which is convenient and timely.
Conclusion
In conclusion, CMS Prime is a legitimate retail forex broker regulated by the Vanuatu Financial Services Commission, offering a range of trading instruments such as forex, commodities, indices, and stock CFDs. With three account types and convenient deposit and withdrawal options, it caters to diverse trading preferences. The availability of MetaTrader 4 and MetaTrader 5 platforms, along with a FIX API solution, enhances the trading experience. The educational resources, including tutorial videos and additional tools, support traders in expanding their knowledge and skills. However, it is worth noting that the lack of specific information regarding the license expiry date and the licensed institution's contact details may raise concerns. Additionally, some traders may find the minimum deposit requirements for certain account types relatively high. Nevertheless, CMS Prime's customer support is available to assist clients with their inquiries and concerns, ensuring a satisfactory trading experience.
FAQs
What trading instruments are available at CMS Prime？
CMS Prime offers a range of trading instruments including forex, commodities, indices, and stock CFDs.
What are the account types offered by CMS Prime？
CMS Prime offers three account types: Standard, Premium, and ECN. Each account type has specific features and requirements tailored to different trading preferences and experience levels.
What are the deposit and withdrawal options at CMS Prime？
CMS Prime provides various payment methods including card payments, wire transfers, Perfect Money, USDT, online payment methods for Thai Baht and Vietnamese Dong, Ali Pay, and selected local payment methods.
Which trading platforms are available at CMS Prime？
CMS Prime offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, both of which are popular and versatile. Traders can also utilize a full FIX API solution to link their preferred trading platform with CMS Prime's infrastructure.
What educational resources does CMS Prime offer？
CMS Prime provides a trading academy with tutorial videos covering various topics such as forex education, chart formation patterns, candlesticks, indicators, and MT4 tutorials. Additionally, there are educational resources available for those interested in the stock market.
How can I contact customer support at CMS Prime？
You can reach out to CMS Prime's customer support team by sending an email to support@cmsprime.com or by calling +(971) 4 451 9328 during business hours (Monday to Friday, 08 am to 06 pm).
2024-07-29 18:22
2023-12-06 21:09
