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Is CMS Prime Scam or Legit Broker?

No, CMS Prime is not a trustworthy broker as it lacks a top-tier license. CMS Prime is an offshore broker registered in several offshore zones.

  •  CMS Securities Ltd is authorized and overseen by the Financial Services Commission (FSC) in Mauritius. However, it is a known fact that Mauritius is an offshore zone and it does not provide sufficient protection and stringent laws to ensure the safety of the broker. 
  • Capital Market Solutions LLC is also registered with Saint Vincent and the Grenadines. Nevertheless, brokers registered in the Saint Vincent and the Grenadines are not reliable options for financial investment either, as the jurisdiction facilitates an easily achievable setup with a swift and simplified process, the firm is not obligated to maintain an office in SVG, enabling to run the business without following strict requirements and rules. Learn more about the brokers established in the Saint Vincent and the Grenadines.

About CMS Prime
🏢 Registered inthe Saint Vincent and the Grenadines
🗺️ Type of LicenseOffshore license
🛡️ Is CMS Prime safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

 

What is CMS Prime?

Based on the information on the broker’s website, CMS Prime provides exceptional trading conditions across a range of asset classes and account types tailored to meet the needs of both experienced professionals and beginner traders. The broker enables access to Commodities, Indices and Stock CFDs. CMS Prime claims to offer tight spreads, high leverage up to 1:500, STP execution model, trading on the market popular MT4/MT5 Platforms, and segregation of client funds.

However, to be able to give an objective and detailed information regarding CMS Prime, we conducted a thorough research and came up with the following points:

  • Lack of regulation: Considering regulation is paramount in Forex trading, our investigation uncovered that CMS Prime operates as an offshore broker. It is registered by the Financial Services Commission (FSC) in Mauritius (GB19024331) and the Saint Vincent and the Grenadines (3060 LLC 2023). This implies that the broker conducts its business without adhering to any serious regulatory rules or guidelines, affording it a considerable degree of operational autonomy. 
  • Feedback from clients: Traders are often uncertain about a broker’s trustworthiness. In this case it is essential to turn to reviews from actual traders for informed assessments. Our research showed, that CMS Prime reviews are mostly on the positive side and traders often mention the broker’s tight spreads and favorable conditions.
  • Withdrawal Issues: When we conduct a research on a broker, we pay a close attention to the broker’s withdrawal process. This is one of the most important aspects in Forex trading; if the withdrawal process is insufficient, traders would simply be unable to get their investments and profits. In the case of CMS, there seem to be only a few complaints about the broker, and most of them are not about withdrawals. However, taking into consideration the fact that the broker has only offshore licenses, we strongly advise to be very careful in trusting your funds with this broker.

Overall CMS Prime Ranking

Following our thorough investigation, we have uncovered notable issues concerning the dependability of CMS Prime and its adherence to regulatory standards. Consequently, we are unable to assign a favorable rating to CMS Prime.

  • CMS Prime Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.
RankingCMS PrimeEightcapFXGT
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe?NoYesYes
AdvantagesNoneTrading InstrumentsTrading Platforms

CMS Prime Alternative Brokers

In light of safety concerns related to CMS Prime, we highly advise exploring alternative options that prioritize stringent regulations and enhanced trading conditions. Here is a list of reputable brokers that present reliable choices and a secure trading environment for your consideration:

  • AvaTrade – Good Instruments and CopyTrading
  • Pepperstone – Low Spreads and Competitive Trading Conditions
  • XM – Wide Range of Trading Opportunities

Deposits and Withdrawals

CMS Prime offers a variety of payment methods for funding trading accounts, including Wire Transfer, Card Payment, Perfect Money, etc

  • Certain deposit methods, such as credit cards and Perfect Money, offer instant funding
  • In terms of withdrawals, withdrawal requests are typically processed within a 24-hour timeframe.
  • However, there is not much information regarding the brokers deposit and withdrawal processes. Considering that CMS Prime is registered in an offshore zone, we strongly advise exercising caution when entrusting your funds to this broker.

Account Types

CMS Prime provides a range of account options designed to suit the needs of various traders. Regardless of the chosen account type, all offerings ensure access to a diverse array of financial instruments. CMS account types are Standard, Premium, and ECN, each of them offering different trading conditions to meet different trading expectations. 

  • The minimum deposit to fund the Standard account is $500. For Premium it is $10,000 and $20, 000 for ECN account respectively.
  • The highest available leverage is 1:500 (Standard accounts). For Premium and ECN accounts the leverage is lower: 1:300 for Premium and 1:200 for ECN. 
  • There are also other differences between the account types that shouldn’t be overlooked. 

CMS Prime Review Conclusion

Having examined the available information on CMS Prime, it is evident that this broker offers favorable features such as tight spreads and high-leverage options. However, there are serious concerns regarding the broker’s reliability and credibility. Despite the attractive features and opportunities, the fact that CMS Prime is registered in an offshore jurisdiction raises substantial doubts. Traders are strongly advised to exercise caution when contemplating this broker.

We recommend traders consider brokers with licenses from reputable authorities such as  FCAASIC, or CySEC. Many regulated brokers provide favorable terms and conditions that align with top-tier regulations, fostering a trading environment that prioritizes safety and minimizes risks. Some noteworthy options include EightcapHFM, and FXTM.

  • Overall ranking and experience for CMS Prime is Negative

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