Recently opened a live account with cms only to find out they are funding new live accounts with $500 free :mad:
You have to open a demo and make $500 to qualify. I’m going to give it a go as there is nothing in the TOS against 2nd account holders. I have a USD account but I could do with a GBP based account too
For those who have not heard of cms please see below.
CMS Forex is a registered Futures Commission Merchant, a Forex Dealer Member of the NFA (National Futures Association) and is registered with the CFTC (Commodities Futures Trading Commission), an agency of the United States government.
Inc 500
CMS Forex ranks as the 7th Fastest Growing Financial Services Company in America and the Fastest Growing Forex Dealer in America
“What it does: Foreign exchange trading for retail investors. Why it’s growing: This and the four other currency-trading companies on this year’s list are now able to provide to the masses technology and information comparable to what institutions get, much like what E-Trade did for stock investors in the 1990s. American dream: CEO Vera Hawkin came to the U.S. 18 years ago from the Soviet Union. At first she washed dishes and cleaned homes, then she started her own travel agency. A money manager lost a good part of her savings trading currencies; that misfortune led her to study the field, then to offer foreign exchange classes at her travel agency, and finally to start CMS Forex.”
Sounds Interesting. Looks like you have to open a demo account by 8/31 to qualify. US Customers start a demo with 10k sso it will be a nice test of my methods . Thanks for the info.
P.S: Looks like they use VT Trader as there platform. I’m a metatrader user but a lot of people like VT also.
I guess the obvious catch is that they expect you to lose the $$$ before every trading long enought to cash it out. If you trade we’ll they you can make there money work for you. See their terms:
[I]Capital Market Services International � BM, Ltd. (CMS International) will deposit 500 USD* into a Live trading account when you trade successfully on your Demo account. No initial deposit is required from you! CMS International will open a LIVE trading account for you and deposit 500 USD* of our own money for you to trade with. See full terms and conditions below.
Terms and conditions: Limit one (1) bonus per household. Once you realize your profit of 500 USD* [/I][I]notify us by clicking here[/I]. Demo and Live account must have the same base currency. The amount that CMS International deposits into your live trading account cannot be withdrawn or transferred before 30 round-turn lots have been traded on the account. Once 30 round-turn lots have been traded, the money can be withdrawn and/or transferred freely. In order to be eligible, you must open a new demo account with an initial balance of 10,000 USD* before August 31, 2007 (profit must be realized before January 1, 2008).
I don’t think they are hoping we blow our accounts, what would be the point of giving us money just to blow. I have a live USD account with cms as well, I think they are one of a few honest retail brokers. I often feel left out that I can’t try out some new super duper mq4 indicator but i guess i’ts like the apple computer users they are somewhat limited to the games and software they can install yet overall they love the product. Same with me and vt.
Hi guys, by mistake I opened a USD100000 demo account and want to change it to the 10,000 account to qualify for the $500 bonus. Do you know of a way to change the account type or to how to close the account?
no problem, if you can get the $500 for a real live account I think THAT will be the best “demo” account for anyone. You can trade live yet not risk your own money but at the same time experience real trading that is a hellava lot different to demo ( As I’m just finding out lol )
Cryten, in what way do you find the live trading different from the demo trades? Do you mean it is different because you are now more emotionally involved because it is real money? Or are the charts and rates in demo account different from real account?:eek:
Oh boy, this broker has huge connection problems!! I have been trying for like last 30 mins to see the same message “Connection problems” retry/ext… b;ah blah blah! It was all well a couple of hours ago. Can we use other trading platforms like metatrader to work with cmsfx?
In demo mode (for all brokers) you are filled at whatever price you buy or sell at. That is why alot of traders complain about “slippage” with cms there is an option called “traders range” mine is set to 0 so if price is moving fast that I can’t get the price I bid for they do not automatically process my order with the next available price. From what I can tell with most other brokers there is not this safety feature and your order can be processed 5, 10 or even 70 pips away! I am considering changing trader range to 2 or 3 pips but thats it.
“Simulated Conditions
Many CMS Forex clients initially get introduced to trading by opening a demo trading account. Please note that trading conditions on your demo account may differ from trading conditions on your live account. While both demo and live accounts use the same real-time price feeds, you may experience differences in execution, especially during periods of high market volatility. Therefore, certain trading strategies that may be successful on your demo account may not be successful on your live account. Success on a demo does not necessarily imply success with a live account.”
I can’t login to demo or my real account. Unfortunately you opened your demo right now lol. I have been using cms for nearly a year now, this is about the 2nd time I couldn’t login. Hopefully it will be sorted soon though.
Oh great! what a nice time for my entry in CMS Not a good omen haha, and thanks for the explanation of difference between demo and live:) I was using metatrader on money-tec and was doing rather well, made about $300 in 2 days on a $5000 deposit demo account. Now… I am scared! lol
Congratulations! You traded successfully on your Demo account and Capital Market Services International � BM, Ltd. (CMS International) will deposit 500 USD into your Live trading account.
Your next step is to send us an application for a Live Account Opening [CLICK HERE] and as soon as your application has been reviewed and approved we will provide you with further details i.e. Login Name and Account No.
Note that we also require bank details, stated on the application, although no initial deposit is required (if bank details are not correct or incomplete we are reserving the right to close the account immediately due to anti-money-laundry restrictions).
Terms and conditions: Limit one (1) bonus per household. Once you realize a profit of 500 USD* notify us by clicking here. Demo and Live account must have the same base currency. The amount that CMS International deposits into your live trading account cannot be withdrawn or transferred before 30 round-turn lots have been traded on the account. Once 30 round-turn lots have been traded, the money can be withdrawn and/or transferred freely. In order to be eligible, you must open a new demo account with an initial balance of 10,000 USD* before August 31, 2007. (profit must be realized before January 1, 2008)
CMS International reserves the right to change the terms of this promotion, and all promotions, at any time without notice. This promotion cannot be combined with any other special offers or promotions provided by CMS International.
Thanks people for this thread I would never have known this,
so I signed up today on the demo, got my $500 & sent the report in.
On another forum it has been posted that they do drag their feet a little
in crediting the money to your live account, but I can wait, there ain’t
any rush.
I’m having a different problem entirely. I setup my demo account, and apon trying to login, I’m hit with “incorrect username/password” over and over. I’ve double and rechecked my e-mail, even copy/pasted, and it’s still not letting me login.
For someone who hasn’t any money to spend to trade, but has been demo-trading for nearly a year, this is a great opportunity for me.
If anyone knows how to resolve it, I would much appreciate it. I thought at first it was a port issue, but I’m not sure why it would give me a u/p error and not a connection error.
Yes this does seem to happen to me as well, I know
I have put in the correct username & password but I
get an error, twice, then the third time it lets me in.
This has happened each time I have closed the window.
Not sure why it happens, but try this method, then if you have
no success wipe it from your 'puter & try to download it again.
Then if no success you will need to speak to CMS. :wishes:
PS Also try to clear all cookies & on-off-line files from your browser/s.
