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Based on my careful research and personal experience as an independent trader, I found that CMS, formally China Merchants Securities International Company Limited, provides a diverse range of trading instruments, but with some crucial limitations prospective clients should be aware of. For me, the standout point is that while CMS is regulated in Hong Kong and offers 20+ years of history, it does not support forex trading—a major consideration for those focused exclusively on currency markets. Instead, CMS specializes in instruments typical for a securities broker: clients can access Hong Kong and select overseas stocks, a wide variety of futures contracts—including Hang Seng Index futures and mini contracts—commodities, stock options, bonds, funds (such as equity and balanced funds), ETFs, and indices. This breadth is appealing if you wish to diversify across asset classes. However, CMS does not appear to offer cryptocurrencies or spot forex trading, meaning it falls short for traders, like myself, who prioritize those instruments. From a risk and regulation perspective, I urge caution—particularly since reports of withdrawal issues and account freezes have surfaced. Regulatory oversight exists, but with limitations, and the FCA license in the UK is revoked. This further reinforces the importance of undertaking thorough due diligence and being wary if your focus is outside traditional securities and futures. For traders whose priorities align with stock, futures, or fund trading, CMS does cover many needs; otherwise, I would advise clearly weighing these constraints before opening an account.