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

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
World Wide Markets
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 WORLD WIDE MARKETS
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.

World Wide Markets is regulated by Financial Conduct Authority, MiFID, BVI FSC. World Wide Markets have provided Forex, CFD trading services since 2010.

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 8 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters Number 146, Road Town Tortola, British Virgin Islands 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) 48
Commodities Offered 21
Stocks Offered 1606
Bitcoin No No Yes
Majors No Yes Yes
Indices No Yes Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies No Yes Yes
Metals No Yes Yes
Agriculturals No No Yes
FTSE No No Yes
Dow Jones No Yes Yes
Dax No Yes Yes
Nikkei No Yes 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

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

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 Yes Yes
WebTrader No Yes Yes
Mirror Trader No No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms VT Trader AlphaTrader Xstation5

APPS

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

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 World Wide Markets

Demo account No Yes Yes
Mini account Yes No Yes
Micro account No No Yes
Standard account Yes No Yes
ECN Account Yes No No
Islamic account Yes No Yes
Zero spread account No No No
VIP account No No Yes
Fixed spreads No Yes Yes
Variable spreads Yes Yes 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 Yes Yes
Hedging No Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No No Yes
STP broker No No Yes
Market maker Yes Yes Yes
Min trade Varies Varies 0.01 Lot
Max trade Varies Varies 100 Lot
Min deposit $1 $50 $1

RISK MANAGEMENT

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

FUNDING METHODS

Credit card No Yes Yes
Bank transfer Yes No Yes
Standard account Yes No 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 2-5 business days 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,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number No +1 855-299-7498 44 2036953085
Live Chat No Yes Yes
Website cmsforex.com www.worldwidemarkets.com 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 Yes
Deposit Fee Varies No 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 01/12/2019.

All information collected from www.worldwidemarkets.com. Last updated on 01/12/2019.

All information collected from www.xtb.com. Last updated on 01/12/2019.

Company

CMS Forex website is not operational.

World Wide Markets is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with World Wide Markets, minimum deposits start from $50.

With World Wide Markets you can trade Spot forex, gold, Oil, indices and CFDs. If you like to trade on the go, World Wide Markets have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

World Wide Markets offer AlphaTrader, FlashTrader, MetaTrader 4 / MT4 / MT MAT, Mobile Platforms, WebTrader, ZuluTrade, WWM Equity Trader platforms to make your trades.

The spreads offered by World Wide Markets for the most popular instruments are:
3 EUR/USD, variable FTSE 100, variable GOLD,
4 GBP/USD, variable DOW/JONES, variable 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 World Wide Markets?

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, World Wide Markets 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 World Wide Markets to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

CMS Forex is regulated by Closed, while World Wide Markets is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, World Wide Markets will have very strict guidelines to follow to ensure they protect their retail trader clients.

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 World Wide Markets have been around for 9 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. World Wide Markets 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 World Wide Markets 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 World Wide Markets are based in Number 146, Road Town Tortola, British Virgin Islands .

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, Also, if you’re looking to trade cryptocurrencies,

neither CMS Forex nor CMS Forex 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 World Wide Markets also allows scalping and hedging. You can't trade with EAs (expert advisors) on CMS Forex but you can trade EAs (expert advisors) with World Wide Markets.

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

World Wide Markets 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 and World Wide Markets both charge points. Therefore, both brokers are equally affordable for this instrument. 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 World Wide Markets?

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

Objectively, World Wide Markets is more reliable based on our criteria above. World Wide Markets has a wider range of instruments to trade. World Wide Markets 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.