CM Trading is an online forex trading service provider that started its operations in 2011. They offer a variety of platforms to their clients and one of which is the CM Trading CopyKat which has social trading features. With this web-based platform, you can watch, learn and copy the trades of other successful traders. If you are more interested about their forex and CFD platforms then you may read our review here but if you want to know more about their social trading platform then you may continue reading this review.
Demo Account: Unlimited access
The free demo account can be accessed for an unlimited time and comes with $50,000 virtual money. This can be used for testing out the platform so you won’t need to use real money.
Bonuses: Trade with more capital
From time to time, they hold different promotions and as of this writing, they offer a welcome bonus of up to $1,000. With these generous bonuses, you will be able to trade with more capital and have more opportunities to make a profit.
Platform: A single community for beginners and professional traders
With the Sirix CopyKat platform, you will be able to join a growing community of online traders. Here you can watch the performance of other members and follow their trades if you see that they have a good portfolio. Should you decide to copy their trades and they made a profit then you will make a profit as well.
Mobile Trading: Go social using smartphones or tablets
With the Social Mobile App you can continue your social trading activities and do all the same actions that you usually do over the web-based Sirix CopyKat platform.
Trading Instruments: Easily diversify your portfolio
They have over 200 instruments covering which includes markets, stocks, currencies, commodities, indices, Bitcoin and CFDs giving you the ability to diversify your portfolio.
Social Network Integration: None
Unfortunately, the platform currently doesn’t allow linking accounts with popular social media sites like Facebook, Twitter and Google+.
Automated Trade Copying: Comes with auto-pilot
Copying of trades are set to auto-pilot so once you pick a user and set the system to copy his trades, the platform from then on will automatically execute the same positions that the selected user executes. It’s very simple and doesn’t have any complex setups.
Account Protection: 2 options
There are two copy methods to choose from and it is up to you on which one to use to protect your account. You may use the “Allocate equity” to set your own trade size based on your desired equity and leverage or you may use the “Copy fixed-size positions” to set the size that you wish to copy from your chosen user so every time he trades, it will be copied with only the position size that you have specifically set.
Traders Allowed to Copy: No limit
You can copy as many users as you want because there is no limit. The platform has a filter function so you can browse the top traders based on their profit and loss, number of copiers, risk level and success rate. You may also see the current top performing users on the table and checkout their profiles to check their statistics.
Deposit & Withdrawal/Support
Minimum Deposit: $250 to get started
If you want to start trading, you need to make an initial deposit of $250 to your account and this will be used as your trading fund. It may be a little higher that the requirement of most brokers today but the additional perks cover for it.
Deposit Methods: A number of options
So how do you deposit funds? This can be done in a number of ways. They accept wire or bank transfers, debit or credit cards, CashU, Neteller and Fasapay.
Withdrawal Processing Time: Within 2 to 3 days
Withdrawing funds from your account is easy. After accomplishing the online withdrawal request form, their Finance Department give you a call to confirm your request which then will be processed within 2 to 3 business days.
Channels: Various methods of communication
Their support lines are accessible via phone, email and live chat.
Customer service is available 24 hours a day, 5 days a week.
Supported Languages: 5 choices
They have support for English, Arabic, Chinese, Indonesian and Spanish languages.
Average User Rating: 9.1
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: User-friendly with accessible tools
The Sirix CopyKat trader is not only very easy to use even for beginners but it also comes with useful resources to make the social trading experience even more efficient.
Support: 24/5 support with fast responses
They provide personal support and service that is available 24 hours a day so you can get in touch with them any time of the day. Their responses were generally quick and highly satisfactory.
Reputation: Regulated by the Financial Services Board in South Africa
Aside from their growing reputation in the social trading arena, they belong to the limited list of brokerages that are licensed by the Financial Services Board (FSB), a financial regulatory agency that is based in South Africa.
Editor’s Rating: 90
CM Trading’s Sirix CopyKat features an excellent social trading platform for learning the ins and outs of the marketplace. By simply watching the activities of other successful forex traders and observing what they do, traders can learn any new skill and make profitable trades easily.