Core Liquidity Markets, also known as CLM Forex, is based in Australian, being part of the Core Liquidity Markets Pty Ltd company. They are regulated by ASIC (the Australian Securities and Investment Commission) and therefore comply with the necessary requirements including segregation of clients’ funds in separate trust accounts. CLM Forex keep their clients’ money at the Commonwealth Bank of Australia, apart from their own business funds. It is important to note, however, that in the case of Australian regulated brokers, there is no compensation scheme covering trades and therefore gains and returns cannot be guaranteed. Here you can find out the necessary information about CLM Forex to help you make a decision about whether or not this could be the right binary options broker to meet your trading needs.
CLM Forex Account Types and Trading Conditions
There is a choice of two types of live account offered by CLM. The first is a standard commission free account, which permits the trading of Micro Lots, and the second is a Pro account which does charge commission however it offers tighter spreads in return. There is also the option of opening a free demo account, which meets the needs of inexperienced traders who are hoping to test the waters of binary options trading, as well as more experienced traders who would like to try out the interface before committing their own finances. To open an account, traders must initially place a minimum deposit of $250. The spreads offered by CLM are variable, with the average spread on a commission free account being around 1.3 pips on the EUR/USD pairing. The Pro accounts do offer a tighter spread of around 0.3 pips on a EUR/USD pair however there is a commission charged of $3.5 per standard lot per side. Leverage ratios go up to 1:500, which is fairly high in the industry.
Trading Platform Offered by CLM Forex
There are numerous trading platforms offered by CLM Forex to their clients including the popular MetaTrader 4, Social Trade, MYFX and FX Lite WebTrader. The FXLite Web Trader platform is web based and is compatible with all modern browsers. It syncs in real time with your MetaTrader 4 account and offers a completely customisable charting package together with technical indicators and money management tools. It allows for CFDs, Metals, Binary Options and Forex trading. The widely used MetaTrader 4 platform is also supported in both mobile and desktop versions. Binary options can be traded through this platform using a special plugin. This platform gives traders all the essential resources and tools including advanced technical indicators and charting package, and impressive automated expert advisors. As it is advised that the platform is constantly connected to the CLM Forex servers if the trader chooses to run EAs, CLM offer a Virtual Private Server hosting service to their clients for a monthly fee, or free of charge to high volume traders who trade more than 50 lots round turn and who maintain a balance of $5000 USD in their account. The CLM trade services are located in Equinix LD4’s EFX1 suite where clients’ data is guaranteed to be kept in the safest possible conditions. CLM also provide user friendly and customisable MAM/PAMM options, with the Multi Account Trader application being embedded in the MT4 terminal or being accessed via FXLite Web Trader. The MYFX trading console is also offered, which is a trading tool application for FX traders who use MT4. This application gives access to a great choice of trading tools and can be accessed for an annual subscription fee of $249, or for account holds with a balance of at least $2500 USD, it can be accessed free of charge. CLM also offers Signal Trader for clients who specialise in algo trading. This is an automated trading solution across a broad spectrum of financial instruments, and it enables clients to automate their trading completely by mirror professional traders’ executed trades. These are executed in real trading accounts, using real money, and are display on the Signal Trader’s website live
Payment Methods and Customer Service Offered by CLM Forex
There are many different methods of withdrawal and deposit into and out of client trading accounts offered by CLM Forex. These include the traditional banking options such as credit and debit cards and bank wire transfers as well as the more contemporary popular e-Wallet methods such as Neteller, WebMoney, Skrill and UnionPay. Accounts can be funded in four different types of currency – Australian Dollars, US Dollars, British Pounds and Euros. The minimum deposit for all account types is 250 units of currency, but the broker do not charge any commissions on withdrawals or deposits. After the initial two withdrawals, for which a fee is charged, up to two withdrawals can be actioned per month without any service charges being applied. Same day processing is actioned on all withdrawals that are executed before 5pm and withdrawal times are rapid, being just 1 to 2 business days for domestic clients and 3-5 business days for international traders when the bank transfer method is used. CLM Forex take their customer support services seriously and offer a range of methods by which their team can be contacted 24 hours a day from Mondays to Fridays. Those with questions or issues can use either the telephone helpful, email support services or the convenient live chat facility to obtain the necessary assistance.
Overall, CLM Forex are a reliable broker who offer a good choice of tradable assets. With plenty of good banking options and a choice of intuitive trading platforms, they are a solid choice for any novice or experienced trader, although their lack of weekend customer support may be an issue.