Launched in 1989 in the UK, CMC Markets has a rich history in the online retail brokerage industry. It offers Forex, spread betting, and CFDs on commodities, indices, stocks, Cryptocurrencies, and treasuries. Although it is headquartered in the UK, it has offices in major financial centers around the world, including Germany, Australia, Canada, and Singapore, and it is regulated by the financial agencies of these countries.
Pros
· CMC Markets is regulated by multiple tier-1 financial regulators in different jurisdictions, including the FCA in the UK, the ASIC in Australia, the IIROC in Canada, and the MAS in Singapore. Additionally, it is listed on the LSE.
· It provides protection against negative balance, and clients’ funds are kept in segregated accounts in some of the biggest banks.
· It offers over 10,000 CFD instruments, so traders can speculate on everything from forex to bitcoin and gold.
· CMC is a global brand, attracting customers from different parts of the world.
· Its desktop and mobile platforms are easily customizable.
· It provides a range of sophisticated trading tools, including client sentiment, pattern recognition, analytic insights, chart forums, price alerts, and more.
· It has won a number of awards over the years in recognition of its unique platform, educational materials, and customer service.
· There is no minimum deposit requirement when trading with this broker.
· The broker offers low prices and tight spreads.
· It offers an in-depth learning academy, with help in the form of webinar tutorials, videos, courses, and written resources.
· It provides social trading platforms, where users can share ideas and help each other.
Cons
· CMC Markets offers no safe exclusion of additional margin-call obligations.
· It charges special fees for guaranteed stop-loss orders, and there are commissions for stock CFDs.
Overall Ranking
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Overall
Investment Opportunity
Commissions & Fees
Safety
Research
Smartphone Usage
Customer Service
Education
Platforms & Tools
Extended Review and Information
CMC Markets is a leading forex, spread betting, and CFD broker that offers over 10,000 tradable instruments across forex, cryptocurrencies, stocks, indices, bonds, and commodities. Through its offices in the major financial centers around the globe, CMC Markets serves over 60,000 clients from different parts of the world, and it is regulated by most of the tier-1 financial regulators.
How to Open your Account
It is easy to start trading with CMC Markets. All you have to do is to open a live account with the broker and fund it with your desired trading capital. The broker offers two types of live accounts — CFD trading account and corporate account — but both account types are actually similar. Interestingly, there is no minimum deposit requirement for opening an account.
As a new trader, it is advised to experiment with a demo account first to test your trading skills and understand the broker’s platform before opening a live account. CMC Markets provides unlimited demo trading funded with £10,000 virtual money.
Trading Instruments Available
The broker offers a wide selection of financial products across different asset classes, such as currency pairs, commodities, stocks, treasuries, indices, and Cryptocurrencies. All in all, there are over 10,000 trade-able instruments:
· More than 330 currency pairs
· Over 9587 shares and ETF CFDs. This is a huge amount of available instruments to trade from.
· More than 50 treasuries. This is a rare trading opportunity, not offered by many brokers.
· Over 110 commodities.
· More than 90 indices.
· Over 12 Cryptocurrencies, including bitcoin, ether, litecoin, XRP (ripple), and others.
Deposits and Withdrawal Methods
To fund your trading account, you can use your credit/debit card or do a bank transfer. The broker accepts only MasterCard, VISA, and UK-Issued credit/debit cards. For bank wire transfers, there is a charge of about £15 for express transfers. It is important to note that the broker doesn’t accept third-party deposit — the name on the bank account or credit/debit card must match the name on the trading account.
You can withdraw via the same methods, but the name must match the name on the trading account. CMC Markets doesn’t place a minimum or maximum limit for withdrawals. Every withdrawal request is verified by phone before processing.
Please note that any fees charged here are not the fault of CMC Markets, but due to the 3rd party which handles the deposit or withdrawal.
Interface
CMC Markets has a proprietary web-based platform, Next Generation trading platform, which can be accessed with any HTML5 web browser. The platform comes packed with many unique features, such as linking, advanced charting, pattern recognition, and multiple stop options, including guaranteed stop-loss orders. It is fast, reliable, and easy to navigate.
In addition, the broker provides its clients with the MT4 platform, which is widely used among retail traders. The broker also provides the mobile versions of its Next Generation platform and the MT4 platform.
Education and Research
CMC Markets provides a range of educational resources to help both new and experienced traders. The resources include articles, market analysis, platform guides, and guides to using technical indicators. In addition, there are trading videos and regular webinars.
Its research offering includes Insights News, CMC Markets Blog, CMC TV, and its print magazine called Opto. Additionally, it provides third-party content from Morningstar and Reuters.
Commissions and Fees
Trading cost is very important when considering a broker to invest with, and CMC Markets offers highly competitive pricing, with average spreads on EUR/USD as low as 0.74 pip. The spread is even lower for some indices, such as DAX 30, which starts at 0.3 pip.
There are commissions for trading stock CFDs, and there may be other special fees for using certain features on the platform. For example, there may be extra charges to use the guaranteed stop-loss order. High volume spread betters may get trading rebates though.
Customer Support
The customer support staff can be reached through the phone or email, and clients have the option of communicating in different languages, including Chines, French, German, Italian, Spanish, Sweedish, and English. Its live chat channel can only be accessed from within the trading platform.
Awards
CMC Markets has won multiple prestigious awards in its 30-year history, and the most recent ones include:
· Best FX Broker for Commissions & Fees, according to ForexBrokers
· Foreign Forex Broker of the Year and Foreign CFD Broker of the Year, from Invest Cuffs 2019 Award
· Financial Services Provider of the Year 2018, from Shares Awards
· Best Spread Betting Service in 2018, from Shares Awards
· Best Spread Betting Service in 2018, from UK Forex Awards
· Highest Overall Client Satisfaction in 2018, from Investment Trends 2018 UK Leverage Trading Report
Regulations and Jurisdictions
Although the broker is based in the UK, it operates in multiple jurisdictions and is authorized by four tier-1 regulators, such as the Financial Conduct Authority (FCA), the Australian Securities & Investment Commission (ASIC), the Investment Industry Regulatory Organization of Canada (IIROC), and the Monetary Authority of Singapore (MAS).
In the event of bankruptcy, U.K. clients are protected by the Financial Services Compensation Scheme up to £50,000. Furthermore, CMC Markets is a publicly traded company that is listed on the London Stock Exchange (LSE).
Conclusion
With over three decades of experience in the financial markets, CMC Markets is a leading brand in the Forex, spread betting, and CFD markets. It offers over 10,000 trade-able products across Forex, indices, stocks, bonds, Cryptocurrencies, and commodities.
Overall, we highly recommend CMC to all types of traders, from beginner to professional due to their wide array of services which will perfectly cater to any trader. Second of all, it is a safe space to trade with some of the highest current customer satisfaction. Click the button below to give CMC Markets a try!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. This does not constitute as investment advice or personal recommendations as your specific financial circumstances have not been considered. No warranty is given in regards to the accuracy and completeness of information. Past performance is not an indicator of future results.