CXM Direct Review

CXM Direct began operations in 2015, and has grown to become a multiple award winning FX and CFD brokerage. Awards garnered include the 2022 World Business Outlook's Best Copy Trading Platform, Asia Pacific and the 2021 Fastest Growing Broker, Asia Pacific award. It also won the 2022 WikiFX award as the Best ECN/STP Broker (Global).

I. Background and Company Overview of CXM Direct

CXM Direct operates a UK brand and a global brand, in keeping with the latest trends of offering different contract specifications to clientele in different markets.

Why are retail traders being drawn to CXM Direct?

• Assets from 8 different classes are featured, giving CXM Direct the status of a FX/CFD broker with some of the most diversified product offerings in the market.
• The copy trading system also allows for what is known as reverse-copy.
• The presence of a PAMM account system for those interested in passive investments.

II. Trading Platforms and Tools

What trading platforms are available on CXM Direct?

You probably guessed it. The MT4 and MT5 are the platforms of choice for CXM Direct, and its clients have access to these two platforms in the various formats (desktop, browser-based version and mobile apps for Android and iOS devices).

In addition, there is a copy trading platform for both traders that want to become Managers (the traders providing signals) and those who want to copy the signals of these Managers. A separate Ratings and Statistical module ensures an objective, data-driven process of Manager selection.

There is also a PAMM account that enables those who want to invest passively into a fund managed by an active trader on CXM Direct to do so.

Some additional trading tools available to traders on CXM Direct to enhance their trading include:

• A forex VPS service.
• Access to Trading Central's daily technical analysis and research platform.
• Unique candlestick charting package, courtesy of CXM Direct and Trading Central that features several graphical representations related to the technical analysis provided by the latter.

III. Account Types and Spreads

The following account types are available on CXM Direct:

1. Standard account
2. Standard Bonus account
3. ECN account
4. Cent account

The Standard account has a $50 minimum deposit requirement and offers trading in FX pairs, metals, stock CFDs and cryptos. Margin call/stop out levels are set at 50% and 30%, respectively.

The Standard Bonus account has the same account conditions as the Standard account.

The ECN account has a $100 minimum deposit requirement. Apart from this change, it also has the same account conditions as the Standard and Standard Bonus accounts.

The Cent account comes with a minimum deposit requirement of $10 and has a different leverage provision than all the other account types.

IV. Contract Specifications

The contract specifications differ from one account type to another, but the differences are not much.

• Leverage is unlimited for the Standard, Standard Bonus and ECN accounts, but is set at 1:2000 for the Cent account.
• There are no restrictions to trading style or use of EAs.
• Copy trading is allowed on all accounts.
• The minimum order size is 0.01 lots.
• All accounts are swap-free and commission-free.
• The use of EAs is allowed.

V. Security and Regulation

The CXM Direct brand is operated by different entities in its various areas of jurisdiction.

CXM Prime Ltd is in charge of the brand's UK operations, where it is authorized by the Financial Conduct Authority with license number 966753.

The brand operates under the CXM Global banner in Mauritius, where it is authorized by the Financial Services Commission with Investment Dealer License number GB21026337.

CXM Direct LLC operates from St. Vincent & Grenadines, where the company is registered with number 444LLC2020 IBC).

Due to regional and regulatory restrictions, residents of Algeria, UK, USA, Canada, Belarus, China, Syria, Iran, DPRK, Myanmar, Russia, Sudan, Syria and Ukraine cannot operate accounts with the global brand of CXM Direct. UK customers are to register and trade with CXM Prime Ltd, which is regulated by the FCA.

VI. Customer Support and Education

You can access customer support on CXM Direct using four main channels. These are listed below:

• Online contact form
• Email: info@cxmdirect.com
• Live chat
• Twitter: twitter.com/cxmdirect

Conclusion

The partnership with Trading Central to deliver in-depth analysis, research and expanded charting features should make CXM Direct one of the brokers you should start trading with.