CMC Market Trade MT5 Account Types & How to Open

When we set out to review the account offering at CMC Market Trade MT5, we expected to find a standard menu of retail trading accounts — perhaps a Standard, a Pro, and an Islamic option, as is common among MetaTrader 5 brokers. Instead, our records show no publicly disclosed account tiers, no minimum deposit figures, and no spread or commission schedule. The broker's official domain, wamsm.com, is registered in China, and the firm was founded on 31 March 2023, but beyond that, the public footprint is almost entirely empty.

We cross-checked the information we hold against aggregated industry data and found no independent user reviews, no verified trading platform screenshots, and no third-party confirmation of any account features. In FXCanary's assessment, this absence of information is itself a red flag. A legitimate broker — even a small one — typically publishes at least basic account details to attract clients. CMC Market Trade MT5 does not, and we were unable to confirm whether any live trading accounts are actually offered to the public.

Our records list two regulators for CMC Market Trade MT5: the Australian Securities and Investments Commission (ASIC) and the Japanese Financial Services Agency (FSA). The ASIC licence is recorded as number 406684, with a Market Making (MM) type, and the FSA licence is recorded as 関東財務局長（金商）第1662号, also Market Making. However, the status of both licences is marked as '—', meaning we could not verify their current validity.

This is where the story becomes concerning. ASIC and the FSA are among the most stringent regulators in the world. A broker holding valid licences from both would be subject to strict capital requirements, client money segregation, and regular audits.

Yet CMC Market Trade MT5 has zero employees on record and no verifiable website or social-media presence. In our experience, such a combination is highly unusual for a regulated entity. We attempted to match the licence numbers against public registers, but the information available to us does not confirm that these licences belong to this specific broker.

We must therefore treat them with caution.

The ASIC number 406684, if genuine, would correspond to an Australian financial services licence. The FSA number 関東財務局長（金商）第1662号 is a Japanese Kanto Local Finance Bureau registration. Both are specific and would be verifiable on the respective regulators' public registers. However, we have not been able to confirm that these licences are held by the entity operating wamsm.com.

In fact, our records flag CMC Market Trade MT5 as a 'Fake Broker' in industry watchdog records and as a clone or impersonator firm. This means that the licences may have been copied from a legitimate, unrelated company. We have seen this pattern before: a new, unregulated entity adopts the name and licence details of a real broker to appear credible. Traders who check the licence number might find it valid — but it would belong to someone else. We strongly advise verifying any licence directly with the regulator before depositing funds.

The broker's name includes 'MT5', which suggests that MetaTrader 5 is the intended trading platform. MetaTrader 5 is a widely used, legitimate platform, and many brokers offer it. However, we could not confirm that CMC Market Trade MT5 actually provides a working MT5 platform. There is no evidence of a downloadable terminal, a web-based version, or a mobile app linked to wamsm.com.

In our review, we found no user testimonials or third-party reviews describing the platform experience. This is a significant gap. A broker that cannot demonstrate a functional trading platform is unlikely to offer a reliable trading environment. Even if the platform is available, the lack of independent confirmation means we cannot vouch for its stability, execution speed, or the integrity of price feeds. Traders should be extremely cautious about entering credentials or depositing funds on a platform that has no verifiable track record.

Our records do not disclose any leverage figures for CMC Market Trade MT5. This is a critical omission. Leverage is one of the most important risk factors in forex trading, and a responsible broker will clearly state its maximum leverage and the margin requirements for each account type. Without this information, traders cannot assess their potential exposure.

If the broker were truly regulated by ASIC, it would be subject to a leverage cap of 1:30 for retail clients. Under the FSA, the cap is typically 1:25. However, since we cannot confirm the licences, we cannot assume these limits apply. In fact, if the broker is operating without valid regulation, it may offer leverage as high as 1:500 or more, which would be extremely dangerous for retail traders. We advise treating any leverage offer with extreme suspicion, and we recommend that traders never risk more than they can afford to lose.

We found no information about minimum deposit requirements, accepted payment methods, or withdrawal procedures for CMC Market Trade MT5. In our experience, a legitimate broker will provide clear details on how to fund an account and how to withdraw profits. The absence of such information is a major red flag.

Even more concerning is the lack of any independent user reviews. If traders had successfully deposited and withdrawn funds, we would expect to find some feedback online. The fact that there is none suggests that either the broker is not operational, or that clients have not been able to share their experiences — possibly because they have lost money. We could not verify any payment processing, and we strongly advise against sending funds to an entity that cannot demonstrate a transparent financial operation.

We were unable to find any details about the account opening process for CMC Market Trade MT5. There is no information about required documents, verification steps, or the time it takes to open an account. A typical regulated broker will require proof of identity and address, and will conduct a suitability assessment. Here, we have nothing.

This lack of transparency is particularly worrying because it suggests that the broker may not be conducting proper KYC (Know Your Customer) checks. This could expose traders to money laundering risks and other financial crimes. In FXCanary's assessment, a broker that does not disclose its account opening process is not a broker we can recommend. We urge traders to walk away from any entity that cannot provide clear, verifiable information about how to open an account.

Demo accounts are a standard offering for most forex brokers, allowing traders to test the platform and strategies without risking real money. We found no evidence that CMC Market Trade MT5 offers a demo account. This is another significant omission.

A broker that does not offer a demo account may be trying to push traders directly into live trading, which increases the risk of impulsive decisions and losses. Alternatively, it may simply not have a functional platform to demo. Either way, we see no reason to trust this broker with a live account. We recommend that traders only consider brokers that offer a risk-free demo environment, and we note that the absence of a demo here is consistent with the overall pattern of opacity.

In summary, CMC Market Trade MT5 presents a deeply concerning profile. The broker has no verifiable account types, no disclosed fees, no confirmed platform, and no independent reviews. The licences on file are unverified and may belong to another entity. The broker is flagged as a fake and a clone, and it has no employees on record.

We cannot recommend this broker to any trader. The risks are severe: potential loss of funds, identity theft, and lack of legal recourse. If you are considering trading with CMC Market Trade MT5, we strongly advise you to look elsewhere. There are many well-regulated brokers with transparent account offerings and a solid track record. In FXCanary's assessment, the absence of information is not a minor gap — it is a warning sign that should not be ignored.