CMC Markets Review
CMC Markets, founded in 1989 is a UK based global CFD and forex broker. They are listed on the London Stock Exchange and are highly regulated by several authorities. CMC Markets offer a wide range of products, competitive pricing and has its own Next Generation trading platform that has quality tools and charting. Their goal is to provide their clients with the best possible trading experience.
|Nationalities||No USA Clients|
|Is a corporate Account Possible?||YES|
|Sign Up process||Medium|
|Funding options||credit/debit cards, bank transfer|
|Forex: Spot Trading||YES|
Regulation and Trust
CMC Markets comply with Client Assets (CASS) to ensure all clients funds are protected. All client’s funds are therefore held in separate bank accounts. They are highly regulated by several financial authorities including: the Financial Conduct Authority (FCA), Investment Industry Regulatory Organization of Canada (IIROC), Australian Securities and Investment Commission (ASIC), Financial Markets Authority (FMA) in New Zealand and Monetary Authority of Singapore (MAS).
Commissions & Fees
CMC Markets offer low spreads available to all customer segments regardless of the account type. The average spread on the EUR/USD is as low as 0.7 pips. A commission fee is charged on share CFDs when an order is executed and varies based on the country where the share product originates. For example, for the UK market a commission charge of 0.10% is charged with a minimum commission charge of 9 GBP. On the US market, a commission of 2 cents per unit is charged with a minimum commission charge of 10 USD. Other costs to be aware of include, a charge for overnight holding, a monthly inactivity fee and a fee to view share prices on their platform.
As of 2019, CMC Markets have 53,308 active clients, this is down 10% from the previous financial year. For the financial year 2019, the value of client trades was down 13% to £2,259 billion compared to the previous financial year.
CMC Markets are present on Twitter, Facebook, Instagram and YouTube. Their Facebook pages attracts a following of over 30 thousand people. The CMC Markets trading app has been downloaded by over 100 thousand users with a rating of 3.1 stars. CMC Markets are very good at engaging with their users and reply to nearly every review left.
Although CMC Markets platform may seem advanced for some beginner traders, it is modern, clean and provides fast, automated executions. Their platform allows you to search for different products and markets and an insights tab is available allowing traders access to the latest news.
Their app is user friendly and showcases a live market calendar with push alerts. The app is customizable allowing your dashboard to showcase only what you deem important. They offer great indicators and drawing tools which help traders make better trading decisions.
CMCs website is clean and provides clear information. You can easily compare the different types of trading accounts available including the spread betting account, CFD account and corporate account. You can compare the instruments, costs, platform features and additional key features of each account, ensuring you chose the right account for you.
Functionality and Tools
For the most part, CMC Markets provide a simple trading experience for beginner to advanced traders. Their Next Generation platform is customizable, has over 115 technical indicators and drawing tools; 12 built in chart types and more than 70 chart patterns. Tools include client sentiment analysis, multiple layouts, a pattern recognition scanner and module linking. CMC Markets have extensive research available to traders including dedicated sessions on learning to trade through webinars or through their guides. They also have educational resources on cryptocurrencies and how to trade Forex.
A risk-free demo account is available which mirrors the live platform. You can use their demo account to test your trading skills before moving onto a live account.
When you choose to trade with CMC Markets you have two trading platform options, MetaTrader 4 and CMC’s Next Generation platform. MetaTrader 4 is widely used by traders and allows you to trade CFDs and Forex across multiple indices and commodities. CMC’s Next Generation Platform is available for both web and mobile trading and has a wide variety of asset classes available. CMC Markets allow for one-click trading allowing you to trade instantaneously. You also have the ability to set boundaries and control potential slippage.
CMC Markets offer a great mobile trading app that has been built individually for iPhone, iPad and Android devices. The iPhone app offers live streaming prices and charts whilst the iPad trading app allows you to experience trading with an intuitive layout and advanced trading tools.
CMC Markets have a dedicated Client Services team available 24 hours a day, 5 days a week with 98% of calls answered in under 20 seconds. They also have the option to contact them by email or through the live chat. CMC Markets customer service is available in multiple languages including English, Chinese, German, Italian, French and Spanish. They also offer a great FAQ section to answer any questions you may have.
With over 30 years of experience, it is no surprise that CMC Markets have won numerous awards. Their Next Generation platform is advanced and boasts many technical indicators and tools. Their application is also great for on-the-go trading and they have risk-management features in place to help you manage your trading risk. They are highly regulated which ensures your funds are protected from fraudulent activities
78% of retail investor accounts lose money when trading CFDs with CMC.