CXM Trading group includes 2 related companies.
CXM Trading UK - located in the United Kingdom, regulated by the Financial Conduct Authority (FCA).
CXM Trading SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
Be aware, UK company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, SVG company accepts European traders, so one can open a trading account there.
CXM Trading group accepts clients from all over the world, excluding USA, Canada, Sudan, Syria, Iran, North Korea.
Forex broker offers the following underlying assets for trading.
|60+ Currency Pairs||Based on major and minor world currencies.|
|50+ Crypto Pairs||Based on Bitcoin, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash, Metaverse, Monero, Eidoo, Qtum, Zcash, OmiseGO, IOTA, NEO, TRON, SAN, USDT.|
|15 Indice CFDs||Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.|
|10 Metal CFDs||Based on Gold, Silver, Platinum, Palladium, Aluminum, Nickel, Lead, Copper, Zinc.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|60+ Stock CFDs||Based on shares of US, UK and EU companies.|
Registered in both the UK and Saint Vincent and the Grenadines, CXM Trading is a forex broker with a global reach that has been active in the industry since 2019. The broker offers high leverage for traders signed up with the offshore entity, and provides access to a large range of trading instruments.
As all regulated forex brokers in the UK, CXM Trading is restricted by the FCA from offering trading leverage any higher than 1:30 to its clients. However, UK and EU-based traders should know that CXM may still accept them as clients under the offshore branch in Saint Vincent and the Grenadines to gain access to the famous 1:500 leverage that many offshore brokers offer.
Traders who choose to trade with CXM will have a whole range of instruments available that they can take positions in. Among other things, this includes more than 60 forex pairs, stocks of a selection of European and US-listed companies, major equity indices and popular commodities. In addition, CXM also offers trading in more crypto CFDs than most other brokers we have reviewed here on FX-List. This includes cryptocurrencies traded against not only the US dollar, but also against fiat currencies like the euro and Japanese yen, as well as against other cryptos.
Looking at the trading platforms that these instruments can be traded on with CXM, we can see that the broker has chosen the traditional path of offering the MetaTrader 4 (MT4) platform, in addition to a web-based social trading platform. As usual on social trading platforms, users can register as either a “follower” or a “provider” of trades and/or trading signals, something which normally depends on the level of experience a trader has.
Moving over to the different account types to choose from, CXM has a Standard account with a USD 2,000 minimum deposit, a Premium account with a USD 5,000 minimum deposit, an ECN account with a whopping USD 30,000 minimum deposit, and a FIX API account with an even steeper USD 50,000 threshold. All of the trading accounts give access to the full range of trading instruments, and can be used for both copy trading and traditional trading. However, the maximum leverage does vary between the account types, with the FIX API account standing out as the one that offers a lower maximum leverage of 1:200.
All trading accounts can be funded with bank transfer, major payment cards such as Visa, MasterCard, AmEx and UnionPay, the Chinese mobile wallet AliPay, as well as directly with the cryptocurrencies bitcoin, ethereum, bitcoin cash and tether (USDT). An important thing to note, however, is that the broker requires rather significant minimum deposit amounts of between 100 and 500 USD for using most of these payment methods.
In terms of customer service, clients can contact the broker via email or chat, and the broker promises that the support team is available 24 hours a day on all trading days. Unfortunately, however, no phone numbers to the broker are provided anywhere on the website, which is a bit questionable in our view. Further, another problem related to customer service is the lack of a FAQ section on the website. At the time we did this review, the broker’s FAQ page did not contain the answer to a single question, but instead featured only two big sign-up buttons for new users.
In conclusion, we’d like to reiterate that CXM Trading still has a way to go in terms of its customer service experience. A proper FAQ section should be added to the website as soon as possible, and we believe it is also important to have phone numbers available for clients to call in case of any urgent issues. With that in place, however, there is no reason why CXM Trading cannot be one of the leading brokers for high leverage copy trading, particularly for traders interested in stocks and crypto CFDs.