What is CLMarkets?
CLMarkets is a brokerage firm established in Australia, which operates through Saint Vincent and the Grenadines offshore with a global purpose. The company has been operating since 2013 and has since gained quite a good reputation among the industry, along with a number of traders they serve around the globe.
CLMarkets trading proposal gives traders a healthy way of doing whatever strategy or level you are doing. CLM also diversified its portfolio by offering a wide range of accesses and markets with Equity, Commodities, FX, Indices, Cryptocurrencies, and Gold. In addition, there is a developed Money Managers program, including MAM and PAMM accounts, which provides access to a wide range of services through tailored trading conditions.
Is CLMarkets secure or is it a scam?
CLMarkets operates at two locations, with one entity is located in Australia and licensed by ASIC. The second entity is based in the offshore region of Saint Vincent and the Grenadines, which only registers financial firms and does not provide strict regulation.
Although, together with the serious and respected operating guidelines obtained from ASIC, we consider CLMarkets to be a safe broker to trade with.
Numerous established standards should be followed by firms prior to receiving their ASIC license while continuing to be constantly monitored in terms of reliability. In addition, ASIC, being one of the most customer-oriented regulatory bodies, covers the needs of traders and supports them in many ways, including money security, training materials, and support at all stages. Therefore, trading with Australian-regulated brokers allows you to trade in a protected environment and unparalleled trading conditions.
Platforms for Trading
CLMarkets has chosen to be the mainstay of the most complete charting platform and the most popular among traders worldwide. This platform is MetaTrader4, a software suited for beginners and professionals, the most popular among manual or automated strategy traders, developers, and more.
In addition to its powerful trading capabilities, MT4 also provides access to over 100 trading instruments available from a single account and interface. The broker servers located in LD4 deliver light-stream speeds for your executions and connect quotes from a number of liquidity providers for the best results.
CLMarkets offers two types of accounts with a great opportunity to engage in trading with relatively small first deposits for both Standard and ECN accounts. Also, these two allow you to choose the most appropriate option according to your trading style, either with all costs included in the spread or with a raw spread plus commission charge per trade.
As we have already mentioned, the Standard account features spread only where spreads start from 1.3pips. The ECN account spreads start from 0 pips but add a commission of $3 per side.
See, for example, some CLM spreads below for better comprehending the pricing of the company.
Besides holding a position longer than a day, you can either take advantage of the interest rate or get charged an extra fee in case you stay longer. This interest rate is also known as a rollover or overnight charge, which is different for each instrument and calculated on the basis of the base rate.
Also, while trading with CLM, you will use a high leverage ratio, as ASIC still allows these levels for retailers as well. Some Forex instruments are thus provided at a 1:500 ratio. On the other hand, each instrument has its own level defined by the company and the regulatory restriction. However, make sure you learn how to use leverage smartly as unrealized use can dramatically increase your risks.
What payment methods does CLMarkets use?
Depositing funds to your CLMarkets account is easy. The broker supports various methods, counting in depositing by Bitcoin, Credit, Debit Card, Bank Wire Transfer or Skrill, Neteller, Boleto.
Minimum Deposit Amount
The minimum deposit amount in CLM, defined by the type of account you wish to open and starting from a minimum of $1,000 for the Standard Account, is $50,000 for Platinum One. Although the deposit requirement is quite high and can be reached mainly by professional or high-volume traders, the CLMarkets target is mainly on those customers.
When it comes to the majority of the payment methods, CLMarkets waived fees that are usually charged by the payment provider, and that means you benefit from free deposits, too. However, depending on the country or are there some small charges that may apply, withdrawals will be charged a minimum of $5 for all withdrawals.
We see a company that operates trading conditions suitable for beginner traders, professionals, or Money Managers.
Trade costs are also set at a good level, so you can access vast trading instruments. Also, being an ASIC-regulated firm brings stability to your account under which protection is applied.