BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

CMS Forex
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT CMS FOREX
Ingot Brokers
7.8 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT INGOT BROKERS
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

CMS Forex website is not operational.

Ingot Brokers is regulated by ASIC. Ingot Brokers have provided Forex, Spread betting, CFD trading services since 2004.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 19 years in business
  • Yes
  • Yes
  • Yes Over 14 years in business
  • Yes Segregates clients funds
  • Yes Regulated by ASIC
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters Sydney, Australia Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex No Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No No
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 34 48
Commodities Offered 0 21
Stocks Offered 200 1606
Bitcoin No Yes Yes
Majors No Yes Yes
Indices No No Yes
US Stocks No Yes Yes
Penny stocks No Yes Yes
Energies No Yes Yes
Metals No Yes Yes
Agriculturals No Yes Yes
FTSE No No Yes
Dow Jones No No Yes
Dax No No Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No No No
MT4 Mac No No Yes
WebTrader No No Yes
Mirror Trader No No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms VT Trader No Xstation5

APPS

iOS image No Yes Yes
Android image No Yes Yes
Windows image No Yes Yes
Available Languages

English, Arabic, and Chinese

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by CMS Forex and Ingot Brokers

Demo account No Yes Yes
Mini account Yes No Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account Yes No No
Islamic account Yes No Yes
Zero spread account No No No
VIP account No Yes Yes
Fixed spreads No Yes Yes
Variable spreads Yes No Yes
See account options

Losses can exceed deposits

See account options

Losses can exceed deposits

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes No Yes
Hedging No Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No Yes Yes
STP broker No No Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 0.01 Lot
Max trade Varies None 100 Lot
Min deposit $1 1,000 $1

RISK MANAGEMENT

Stop losses No Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops No Yes Yes
Price alerts No Yes Yes
Signal trading No No Yes

FUNDING METHODS

Credit card No Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No Yes Yes
Skrill No Yes Yes
Payment processing time Varies 1 business day Same day if requested before 1PM
Withdrawal processing time Varies 1 business day Same day if requested before 1PM
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number No 61280385040 44 2036953085
Live Chat No Yes Yes
Website cmsforex.com https://www.ingotbrokers.com.au/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) Not offered Not offered 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered Not offered 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered Not offered 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered Not offered 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered Not offered 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered Not offered 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered Not offered 0.1 pips
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No
Commission No Yes
Deposit Fee Varies Yes No
Withdrawal Fee No No No
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from cmsforex.com. Last updated on 01/08/2019.

All information collected from https://www.ingotbrokers.com.au/. Last updated on 01/08/2019.

All information collected from www.xtb.com. Last updated on 01/08/2019.

Company

CMS Forex website is not operational.

Ingot Brokers is an online forex trading service provider who are regulated by the ASIC. To open an account with Ingot Brokers, minimum deposits start from $300.

With Ingot Brokers you can trade CFDs, energies, precious metals, and commodities. If you like to trade on the go, Ingot Brokers have iPhone appAndroid app so you can trade from anywhere on your phone.

Ingot Brokers offer MetaTrader 4, INGOT MT4 Tools Kit, Mobile Trading, Zulu Trade platforms to make your trades and support 2 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Ingot Brokers for the most popular instruments are:
2 EUR/USD, n/a FTSE 100, 0.5 GOLD,
3 GBP/USD, n/a DOW/JONES, 5 Crude Oil,
see all the spreads here.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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CMS Forex or Ingot Brokers?

ECN execution or access to MT4?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), CMS Forex is likely the better choice. However, if you want a broker that offers MetaTrader4 as a trading platform, Ingot Brokers may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider CMS Forex to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

CMS Forex is regulated by Closed, while Ingot Brokers is regulated by ASIC.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

CMS Forex has been around for 20 years, while Ingot Brokers have been around for 15 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

CMS Forex does not use tier one banks as their banking partner. Ingot Brokers uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both CMS Forex and Ingot Brokers are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

CMS Forex are based in , while Ingot Brokers are based in Sydney, Australia .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, Ingot Brokers have a slightly larger variety of currency pairs with 34 pairs, compared to offered by CMS Forex. Also, if you’re looking to trade cryptocurrencies, Ingot Brokers offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, CMS Forex may be a better fit as Ingot Brokers does not offer commodity trading.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. XTB, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

CMS Forex does allow scalping but doesn't allow hedging. While Ingot Brokers does not allow scalping but does allow hedging. You can't trade with EAs (expert advisors) on CMS Forex but you can trade EAs (expert advisors) with Ingot Brokers.

In terms of risk management tools, neither CMS Forex or Ingot Brokers offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

Ingot Brokers accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, CMS Forex charges points, while Ingot Brokers charges 0.60 points. Therefore, CMS Forex is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: CMS Forex or Ingot Brokers?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, CMS Forex is more reliable based on our criteria above. Ingot Brokers has a wider range of instruments to trade. Ingot Brokers offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Most brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.