CM Globals Review: A broker with diverse account types but high spreads
Written by:
Written on:
10 June 2023
Last edit:
12 July 2023
Our rating:


CM Globals Review: A broker with diverse account types but high spreads
Written by:
Written on:
10 June 2023
Last edit:
12 July 2023
Our rating


Trading is risky.
See how CM Globals compares to it's closest alternatives.

Main summary

CM Globals, formally known as Co-Mo Trade, is a regulated Forex and CFD broker from Australia operating on the global market with two regulation licenses in Australia and Canada. The broker is relatively young but managed to accumulate a decent client base of over 150,000 traders worldwide. Because Australia's regulatory body has restrictions on leverage and other key aspects of trading, the broker managed to acquire a second license from Canadian authorities and is offering flexible leverage of up to 500:1 to its global clients.  

In this review of the CM Globals Forex broker, we’ll discuss the broker’s services and products, the security and safety policies and regulations, trading platform details, account types, trading fees, spreads, and more.  In addition to the review, we have also included the step-by-step guide for the account registration and verification process.

Pros & cons of CM Globals broker

  • No fees for deposits or withdrawals
  • Offers access to advanced trading platform MetaTrader 5
  • Lightning-fast and digital account opening/verification
  • Offers access to 43 currencies and numerous other trading assets
  • High leverage of up to 500:1
  • Charges inactivity fees
  • Does not offer access to Islamic accounts
  • Only MetaTrader 5 is offered as the trading platform
  • The website lacks details about fees and other important trading information
  • MetaTrader 5 download page has issues and is not working properly

CM Globals Fact sheet

Main features
Regulations Australia, Canada
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 10 USD per month
Minimum deposit 100 USD
Minimum account activation 100 USD
Number of available assets 112
Leverage up to 1:500. 30:1 as of Australian ASIC regulations
Available trading markets CFDs, CFDs on Stocks, Cryptocurrencies, Energies, Forex, Indices, Metals
Account currencies USD
Demo account Yes
Live account types Co-Basic, Co-Class, Co-Pro, Co-Master
Islamic account -
Negative balance protection -
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Forex 43
Shares 0
Cryptocurrencies 4
Indices 9
Commodities 6
Total 112
Fees & spread
Forex From 1.7 pips
Shares N/A
Cryptocurrencies From 0.01
Indices From 1 USD
Commodities From 0.03
Platforms MetaTrader 5
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Bank Transfer, Bitcoin, Credit/Debit Card, Crypto, E-wallets, Neteller, POLi, PayPal, Skrill
Minimum deposit Bank Transfer, Bitcoin, Credit/Debit Card, Crypto, E-wallets, Neteller, POLi, PayPal, Skrill
Minimum withdrawal Bank Transfer, Bitcoin, Credit/Debit Card, Crypto, E-wallets, Neteller, POLi, PayPal, Skrill
Withdrawal processing time instant
Time to open an account -
Show all

Safety & Security of CM Globals

Choosing a safe and reliable broker is the first step to successful trading. There are various factors to consider when making a decision, but the safest brokers are well-regulated ones. CM Globals is regulated by two different authorities and jurisdictions. The main regulator is the Australian Securities and Exchange Commission (ASIC), and it ensures client fund safety and that other security measures are in place. The ASIC is one of the most reliable Forex regulators and increases the feeling and actual safety of traders. The downside is their maximum allowed leverage of only 1:30, but the broker is also regulated by the Money Services Businesses Canada (MSB) which enables CM Globals to offer up to 1:500 leverage to global traders. The lack of negative balance protection makes it susceptible to harm to traders in case of over-leveraged trading. The broker uses segregated bank accounts for client funds and is part of an investor compensation fund. So, on the regulations side, things are very well-balanced and only the lack of negative balance protection poses an issue. 

cm globals main page.png

Trading assets offered by CM Globals

*CFD stands for Contract for Difference and such instruments enable traders to speculate on underlying asset prices without owning them. 

CM Globals offers a wide range of tradable instruments, including CFDs on stocks, cryptocurrencies, Forex, indices, commodities, energies, and metals. Despite the wide range of trading assets offered, the best one for trading is Forex, because of how many pairs the broker offers for trading. 

Forex trading on CM Globals

The Forex market is very attractive, but depending on your level of experience and the spreads offered by the broker, it may become challenging to achieve profitability. CM Globals spreads start from 1.7 pips on the Co-Basic trading account which is way beyond the industry standard of 1 pip. Because of the expensive spreads, it is not recommended to trade scalping and other short-term strategies with this broker. Since there are no commissions the best way is to use swing and day trading strategies that do not rely on low spreads. We will get into more details on trading account types below. The lowest spreads possible require trading accounts of at least 10,000 USD which is not low and CM Globals is targeting experienced traders and professionals with this policy. 

Stock CFD trading on CM Globals

The stock CFDs are not many, but the spreads are acceptable, starting from 0.05. Stocks can be bought but it is not possible to short them, this is where CFDs on stocks come in handy as they allow traders to open a sell position without owning the underlying asset. There are 50 stock CFDs offered by CM Globals that allow traders to speculate on their prices and make money no matter what the market is doing. 

Cryptocurrency trading on CM Globals

BTUSD, ETHUSD, LTCUSD, and XRPUSD are the four crypto pairs offered by CM Globals as of now. The spreads are low and cryptos are open for trading 24/7. The spread on BTC is about 9 USD per BTC traded which is not high assuming that one BTC is around 0.27 lots depending on the flagship crypto’s price. Cryptos are becoming super popular lately and we hope CM Globals offers more cryptos in the future with low spreads. 

Commodities and indices trading on CM Globals

Various indices, commodities, energies, and metals are offered with low spreads by CM Globals. Gold is a very popular trading asset, especially during these crisis times. The spread on CM Globals’ gold asset class is around 1 USD. 

Account types available for traders on CM Globals

CM Globals offers an advantage with its diverse account types, which come with different spreads and key specs. Let’s discuss each of them and conclude which one is the best. 

Co-Basic, Co-Class, Co-Pro, and Co-Master account types are targeted at traders with different budgets. The two main differences between these accounts are minimum initial deposit requirements and spreads offered. What all accounts have in common is that they all come with investment assistant service, daily trade support and bulletin, and no trading commission based on trading volume. If we consider the high spreads, the trading commissions being zero seems very natural in this case. 

Account TypeSpreads Required Deposit
Co-BasicStarting from 1.7 pips100-1,999 USD
Co-ClassStarting from 1.4 pips2,000 - 4,999 USD
Co-ProStarting from 1.1 pips5,000- 9,999 USD
Co-MasterStarting from 0.8 pips10,000 USD and more

As we can see the spreads are very high for basic account clients. The best spreads can be acquired when the trading account balance exceeds 10,000 USD, this makes CM Global a more expensive alternative to other brokers. Many popular brokers have super low initial deposit requirements and low spreads. 

Pros & cons of CM Globals account types

Average barriers to entry from 100 USD deposit requirementsAll account types have very similar terms and do not provide any advantage 
Enables traders to use a free demo accountSpreads are super high and it requires 10,000 USD to get 0.8 pips spreads which is unattractive
Offers access to MetaTrader 5 

Getting started on CM Globals – Main steps

In this section, we’ll show you how to open a demo and live trading account with CM Globals. The registration process and account activation are all done digitally, and the broker’s web page is very intuitive and user-friendly. After registration, it is possible to open a demo or live account with just a few clicks. 

Step 1: Open an account

cmglobals acc reg form.png

Just click on a registration button and enter basic information like mobile number, email address, and country of origin. After this information is in, clients will be redirected to the main dashboard where they can further verify and complete their accounts or open a demo account right away. There is also a web trader to access the demo account quickly and easily to start testing the waters. 

Step 2: Time to verify your account

Verification consists of several steps. It will be necessary to verify your email address and complete your trading profile. After these steps, it is possible to open a live trading account. But in order to increase your deposit and withdrawal limit of 100 USD, full verification is required by providing proof of identity as per their KYC policy and proof of address with a copy of a bank statement or utility bill. 

Step 3: Make your deposit and start trading

After the verification process has been completed it is easy to open a live account and start trading. The funding methods supported include all the popular methods like bank transfers, Bitcoin, credit/debit cards, crypto, e-wallets, Neteller, POLi, PayPal, and Skrill. With the funding methods being this many, the only challenge is to find your favorite method and start trading. 

Fees & commissions of CM Globals

Comparing CM Globals fees with other brokers

CM Globals fees compared to Interactive Brokers fees

Type of FeeCM GlobalsInteractive Brokers
EUR/USD SpreadFrom 1.7 pipsFrom 0.6 pips
Fees on Deposits0 USD1%
Inactivity fee10 USD per monthNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

CM Globals fees compared to CM Trading fees

Type of FeeCM GlobalsCM Trading
EUR/USD SpreadFrom 1.7 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee10 USD per monthYes, 15 EUR/USD per month after 60 days of inactivity

CM Globals fees compared to plus500 fees

Type of FeeCM Globalsplus500
EUR/USD SpreadFrom 1.7 pipsFrom 0.8 pips
Fees on Deposits0 USDNo
Inactivity fee10 USD per monthYes, 10 USD per month after 3 months of inactivity

CM Globals fees compared to XM fees

Type of FeeCM GlobalsXM
EUR/USD SpreadFrom 1.7 pipsFrom 0.6 pips
Fees on Deposits0 USDNo
Inactivity fee10 USD per monthYes, 15 USD after 12 months, +5 USD/m

CM Globals fees compared to AvaTrade fees

Type of FeeCM GlobalsAvaTrade
EUR/USD SpreadFrom 1.7 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee10 USD per monthYes, 50 USD after 3 months, 100 USD administration fee after a year

CM Globals fees compared to fees

Type of FeeCM
EUR/USD SpreadFrom 1.7 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee10 USD per monthYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms of CM Globals reviewed

The main trading platform that CM Glboals offer to its traders is MetaTrader 5, and numerous useful features are included in CM Globals’ MetaTrader 5 platform. There are three versions available encompassing all the available devices and clients can log in with the same credentials to all three platforms of the WebTrader, Android app, or desktop software. It is worth mentioning that the co-mobile app is down at the moment and is impossible to download from the Android store and test it. It seems the company is still developing and testing its proprietary platform and the standard MT5 is the best platform before it becomes available. 

Education and research tools

CM Globals is a broker that focuses on providing its traders with educational materials which can be used by beginners. The educational resources are sorted in an easy-to-understand and follow manner. Fundamental analysis, technical analysis, trading psychology, and advanced technical analysis are topics covered in the dedicated education section of CM Globals. With these topics, beginners can have a basic understanding of the dynamics of the Forex markets and start practicing on a demo account. There are no tools or custom indicators offered by the broker as of now. 

Customer support of CM Globals

Customer support is available 24/5, but only in English and there are several options to contact the broker’s representatives directly. There is no live chat option which is a downside, but the available methods include visiting physical offices in 4 cities. One office is in Ottawa and Sydney, and two offices are in Melbourne. It is possible to call the broker representatives or leave a message. Email support is also available. 


CM Globals is a Forex and CFD broker regulated in Australia and Canada. The broker is relatively young but has already managed to establish a 150,000+ client base which is not an easy feat for any broker. By obtaining licenses from regulators in Canada and Australia the broker is secure and somewhat flexible, offering leverage of up to 1:500 to international clients. But the broker has high spreads and it will require 10,000 USD or more on your trading account to get spreads from 0.8 pips on major pairs. There are no commissions for trading Forex and trades will have to pay the spread markups. All popular trading asset classes are offered to CM Globals’ clients, including CFDs on stocks, Forex, cryptos, indices, and commodities. The 43 currency pairs will make it possible to find almost any preferable currency and can be attractive for Forex day traders and swing traders. Scalpers won't find this broker useful as spreads are high on all trading accounts. The only trading platform offered is MT5 and it is available on almost all platforms. Customer support lacks the live chat feature and there are no trading tools available as of now. But the broker is relatively young, it is likely they will develop over time and offer even more attractive services and customer support in the future. 

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FAQs on CM Globals

Is CM Globals a good broker?

CM Globals is a regulated Forex and CFD broker. The company’s activities are overseen by the Australian ASIC and Canadian MSB which makes CM Globals a relatively safe broker. The only downsides are high spreads, from 1.7 pips on major pairs, and a lack of negative balance protection.