CMS Prime is a Forex and CFD Broker that features on its trading platform currency pairs as well as CFDs on shares, commodities, indices. CMS Prime is a subsidiary company of Capital Market Solutions Inc., a corporation that is regulated and overseen by the Saint Vincent and the Grenadines. The minimum deposit the company requires is set at $1 000. The CMS Prime website is available in English, Arabic, Chinese and Persian.
What do we cover in our CMS Prime Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.CMSPrime.com
- Leverage: up to 1:400
- Instruments: Forex, CFDs – Shares, commodities, indices
- Minimum deposit: $1 000 (base currencies: USD, EUR, GBP)
- Demo account: N/A (Page with information about demo account is unavailable)
- Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller, Credit and debit cards (Visa/MasterCard), WebMoney
CMS Prime Trading Platform
For FX and CFD trading, CMS Prime offers MT4. A popular platform used not only for executing trades but also for analyzing financial markets and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. The broker gives access to around 200 tradable assets.
CMS Prime Spreads
As any other CFD broker, CMS Prime charges a spread fee. For the most current spread charges, please visit the CMSPrime.com website. Here is a spread comparison table that contrasts CMS Prime spreads with popular industry competitors.
*Spreads were scanned on the 07.11.2019. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
CMS Prime regulation
Capital Market Solutions Inc. is licensed and regulated by the Saint Vincent and the Grenadines (license number 24495 IBC 2018).
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce CMS Prime.
CMS Prime Pros
- High leverage (two-edged sword tho)
CMS Prime Cons
- Weak regulatory framework, not regulated in the EU nor Australia
- High minimum deposit
- Information about spreads unavailable
To sum up the CMS Prime Review
The CMS Prime broker is licensed and regulated by the Saint Vincent and the Grenadines, which is one of the weakest financial regulators. The company requires a high minimum deposit of at least $1 000 in order to start trading. The company mentions that they offer a free demo, but once I tried to open it I was unsuccessful as the demo page does not exist. Unfortunately, the broker also does not mention how high spreads they charge, which means we were unable to compare them to their competitors. Taking all of this into consideration, CMS Prime does not look from our perspective like a particularly attractive company.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with CMS Prime.
- The MT4 vs MT5 – What you need to know - July 3, 2020
- XM.com Sign up Guide – How to register a new account - July 2, 2020
- Plus500 Professional account – Advantages & How to get it - June 28, 2020