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With its wide selection of over 12,000 tradable instruments and great pricing, CMC Markets has gained a reputation for being a trustworthy platform that offers an exceptional trading experience.
CMC Markets has been recognized for its Next Generation trading platform, which consists of high-quality research and advanced trading tools. With a global presence in multiple countries, CMC Markets offers a wide range of financial instruments, including forex, indices, commodities, shares, and more.
The company prides itself on providing its clients with innovative trading technology, competitive pricing, and excellent customer service. In this CMC Markets review, we’ll analyze the platform's features, pros, and cons to help you decide whether this platform is suitable for your trading needs.
What Is CMC Markets?
In 1989, CMC Markets was established to offer online trading services for forex and CFD. With over 10,000 trading instruments in its asset portfolio, CMC Markets reviews shows it provides a vast range of CFDs, including indexes, bonds, stocks, trade stocks, and commodities.
During our evaluation of online brokers and CMC Markets review, many of them furnished us with in-person data on CMC Markets. CMC Markets is a highly regarded online broker with membership in the FTSE smallcap index, which speaks to its credibility.
This forex broker is subject to oversight by several prominent regulatory agencies and is publicly traded on the London stock exchange.
The services provided by the company are available to both individual retail traders and institutional clients such as banks, brokers, hedge funds, and trading desks.
A CMC Markets review shows CMC traders are protected by the Financial Services Compensation Scheme (FSCS), a compensation scheme located in the UK. The FSCS provides coverage up to £85,000, equivalent per person, or up to £170,000, or equivalent per joint account.
The broker is known and relied upon worldwide, catering to the needs of active traders with a wide range of tradable assets, competitive pricing, and an advanced trading platform (provided by CMC Pty Ltd).
This platform includes high-quality research, robust charting features, and innovative tools designed to help the best forex traders target markets on a global scale.
Active traders can receive liquidity rebates from CMC Markets, with rebates starting at 5%.
- A business that has been in operation for more than three decades
- A demo account that is free of cost and has no time restriction is available
- There is a vast selection of options, as more than 11,000 trading instruments are available
- There is no need for a minimum deposit
- The mobile and desktop platforms are highly customizable
- The mobile application does not provide any customer support
- The fee structure is not clear and comprises mostly fees that vary
- The opportunity to engage in stock trading is limited to specific geographical areas
Features of CMC Markets
A CMC Markets review shows CMC Markets stockbroking is a reputable and recognized broker popular for its competitive CFD trading and spread betting solutions. The broker is regulated in the United Kingdom and is listed on the highly esteemed London stock exchange.
CMC Markets offers a comprehensive selection of tradable assets on its web version and mobile apps, along with numerous resources, making it an ideal option for traders in the United Kingdom.
According to a CMC Markets review, new trading accounts tend to experience losses frequently. However, you can access domestic and international shares without brokerage fees in Japan, Canada, the US, and the UK.
Furthermore, purchasing Australian shares incurs zero brokerage fees for up to $1000, as per a CMC Markets review. The commission and fees charged to traders vary depending on their type of bank account and the asset class they choose to trade.
Simply put, CMC Market is considered one of the top forex brokers due to its highly competitive fees that meet industry standards.
The negative balance protection feature reassures clients during unstable market situations. Our CMC Markets review' investment account shows that retail traders can use high-quality educational resources crafted by seasoned experts.
CMC Markets, the best forex trading platform, offers three services: active investor, premium, and classic.
This broker provides excellent assets and offers diversified portfolios with low trading expenses. It caters to the trading needs of both novice and institutional traders by providing a comprehensive range of services.
CMC Markets ensures that all traders can access its asset offerings. Plus, CMC Markets Stockbroking Limited provides a comprehensive range of investment products, from shares to managed funds, which customers can trade.
Our CMC Markets review found that their investment account operates transparently regarding the associated costs.
Their website mentions all the costs of their products, enabling active traders to view the applicable fees for different services when buying or selling assets.
CMC Markets Review: Benefits
Why should you trade using forex with CMC Markets? The benefits provided by the platform are as follows:
- Online share trading through this broker does not require a minimum deposit to be paid as a fee.
- CMC Markets provides diverse advanced trading tools such as chat forums, price movements, pattern recognition, analytical insights, etc. However, there are choices available as well. It is essential to consider all of your options.
- One of the key features offered by CMC Market, which is now commonly provided by many online brokers, is negative balance protection. CMC Market also allows traders to access a broad range of options across various asset classes.
- CMC Markets is subject to regulation by multiple authorities and is publicly traded on the UK stock exchange as per a CMC Markets review. The website may receive compensation from third-party companies affiliated with CMC Markets, and links to these sites are provided on the website.
- CMC Markets provides a platform that offers affordable options for trading, including tight spreads, low leverage, and low margin requirements. However, engaging in low-cost share trading on this platform is not recommended.
- Traders can personalize their mobile and desktop platforms based on their needs and wants. They can also assign a rating system that aligns with their individual preferences.
- The Invest account provides its users with a demo trading account, dynamic data, and live data, all fully functional and free. According to a CMC Markets review, CMC markets offer free live ASX data and a chat forum where traders can share their experiences and trade shares to assist one another.
- This platform has been awarded multiple times for its exceptional business performance and is renowned for providing top-notch educational resources and customer service.
- With over 10,000 safety instruments, traders can execute trades on various assets, including forex pairs, forex, Gold, Bitcoin, and other selected investment products.
- CMC Markets offers a comprehensive learning academy with resources such as webinars, tutorials, courses, written trading materials, and videos.
- According to the CMC Markets review, their platform allows clients from various parts of the world to trade in global shares, which has increased the number of customers using their services.
Is CMC Markets Safe?
CMC Markets has gained high trust with an impressive Trust Score of 99 out of 99. The company is publicly traded and does not provide banking services.
It is authorized and regulated by five tier-1 regulators, a mark of high trust, and one tier-2 regulator, which indicates average trust. However, it is not authorized or regulated by tier-3 regulators, which are considered a low trust.
A CMC Markets review shows it holds authorization from several top-tier regulators, including the Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), Investment Industry Regulatory Organization of Canada (IIROC), and the Financial Markets Authority (FMA) of New Zealand.
Where Does CMC Markets Operate?
CMC Markets has a global presence in over 70 countries, including Norway, Ireland, Spain, Italy, France, New Zealand, Singapore, Germany, Australia, and the United Kingdom. The company has established offices in 12 nations and is headquartered in London.
The broker's website can be accessed in nine different languages: English, French, Spanish, Austrian, German, Norwegian, Swedish, Polish, and Italian.
A CMC Markets review indicates CMC Markets is under the supervision of three global financial regulatory organizations and is compliant with their regulations.
- Finanzdienstleistungsaufsicht (BaFin): CMC Markets Germany GmBH, a subsidiary, has been granted the BaFin license 154814 to conduct operations in Germany as well as some other European countries.
- Monetary Authority of Singapore (MAS): CMC Markets Singapore Pte. Ltd. is regulated by the Monetary Authority of Singapore (MAS) under the licensing number UEN 200605050E. The MAS and other regulatory agencies ensure that clients' funds are kept in a secure and separate account from the commercial funds of CMC Markets.
- Financial Services Authority (FCA): As per the regulations of the Financial Conduct Authority (FCA), CMC Spreadbet plc (170627) and CMC Markets UK plc (173730) are authorized to conduct their business in the United Kingdom and several other countries including Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, and Finland.
In addition, CMC Markets Asia Pacific Pty Ltd is also licensed under 238054 by the Australian Securities and Investments Commission (ASIC) and permitted to operate in Australia and other Asia Pacific countries. Bundesanstalt für is also involved in the regulation of the company.
CMC Markets Review: Account Types
Based on CMC Markets reviews, this brokerage firm provides account options, including a demo account with no cost, and a live account that does not require a minimum deposit.
Traders are given the freedom to select their preferred trading platform. However, if they want to trade with assets other than commodities, forex, and indices, they must opt for CMC's alternative trading platform, as the MT4 platform only supports these three types of trading.
CMC Markets provides a state-of-the-art platform and offers Pro accounts specifically designed for professional clients. Additionally, their CMC invests account offers three different account types, which include Share Trading accounts, catering to the needs of their premium traders.
- Corporate account
- Spread betting account
- CFD account
While the accounts discussed above share many similarities but vary in other areas, such as share trading. Although these accounts have identical characteristics, some of the instruments may differ based on the trader's account type.
According to a CMC Markets review, opening an account on the CMC Markets website is a straightforward and uncomplicated process. The traders can easily create their live trading accounts by following the step-by-step instructions provided on the website.
This enables them to start using the trading platforms for live trading quickly. There is no hassle involved in the account opening procedure.
We can review the detailed process of opening an account on the CMC Markets platform to obtain more information. Based on CMC Markets reviews, it is important to consider your objectives, financial situation, and needs.
Additionally, any buy orders placed after the first one on a trading day, up to a maximum value of $1000 per stock, will be processed.
CMC Markets Review: Account Opening Process
Opening an account with CMC Markets is a simple and fast process that involves downloading the online application from their website or mobile app, per a CMC Markets review. Once the account is opened, traders can start live trading or try out demo trading.
However, the trader must provide some necessary documents to comply with the regulators' KYC requirements.
Although it may require some time, submitting all necessary documents ensures that every trader is protected. Additionally, CMC Market provides the option for joint accounts.
Step 1. Registration
Individuals interested in trading with CMC Markets must visit the website's homepage and obtain the registration form to sign up. They must complete the form by providing their full name, address, contact information, and date of birth.
Additionally, traders must disclose details regarding their tax status, and the broker may request a national insurance number from their clients in certain cases.
Step 2. Financial Information
As per the broker's requirement, traders must furnish their financial information, including their current financial standing, employment status, industry expertise, annual income, and online trading experience.
According to a CMC Markets review, they must respond to CMC markets' multiple-choice questions to gauge their trading knowledge. These financial services are mandatory for traders. In addition, traders will be asked about their familiarity with risk management and the use of leverage.
It's important to comprehend the concept of negative balance protection, which ensures that your account balance cannot go below zero. Furthermore, clients can benefit from extra asset protection through the Financial Services Compensation Scheme.
Step 3. Verification Process
To comply with anti-money laundering regulations, UK-based forex brokers like CMC Markets must identify customers and follow specific FCA licensing requirements.
To do this, traders must provide supporting documents, including a government-issued ID and proof of address, to the broker. This process must be done manually.
Step 4. Depositing Funds
If you are utilizing a demo account, adding money is not required, as the account comes with virtual funds. This broker enables its traders to add or withdraw funds using bank transfers or debit/credit cards.
The platform does not impose any minimum deposit limit.
Step 5. Live Trading
Once the trader has made a minimum deposit, they can begin live trading by accessing the CMC Markets website and logging into the user-friendly platform. It is a simple process to locate the desired asset.
According to a CMC Markets review, traders can utilize the search tool, select the asset category, and specify the instrument they require for prompt access.
CMC Markets provides a remarkable attribute that enables users to personalize the entire layout according to their preferences.
What Can You Trade With CMC Markets?
Based on our CMC Markets review, this particular broker provides various trading options exceeding 10,000 across six different asset categories, including forex, indices, cryptocurrencies, shares, treasuries, commodities, ETFs, and others.
In addition, both seasoned and novice traders appreciate the wide range of assets offered by CMC Markets, which the broker constantly expands, making it more comprehensive.
If you're interested in exchange-traded options, you should know that trading fees will apply. Fortunately, all available trading assets are listed on the CMC website, making it easy for traders to navigate and find the assets they want to trade.
According to a CMC Markets review, if you need clarification on which online share trading platform to use, you can consult our comparison tables for guidance.
The Next Generation platform offers three fundamental types of orders that serve the purpose of halting or losing trade. This platform is suitable for traders who engage in frequent trading, although it covers a diverse range of products.
Trading of CFD
According to the CMC Markets review, their platform is widely recognized and regarded as a top choice for CFD social trading, with various assets, including stocks, treasuries, undervalued Crypto, commodities, and more.
Each asset can be leveraged and must comply with ESMA regulations for retail traders. Based on our CMC Markets review, traders can sell their assets short on the platform.
CMC Markets offers a range of financial instruments for trading and spread betting services. Spread betting on preferred assets has the advantage of allowing traders to profit from tax-exempt earnings.
However, traders need to confirm the tax-exempt status with a qualified tax professional, as this may vary depending on their country of residence.
Cryptocurrency CFD Trading
- The wider spreads in CFD trading are due to the high-risk nature of the volatile market. To utilize CFDs, you can use CMC's advanced CFD trading platform. It is recommended to exercise caution when dealing with such trading instruments.
- CMC Markets' most popular client asset class is cryptocurrency trading.
- This broker does not allow trading between different types of cryptocurrencies. However, they do provide a range of trading pairs with competitive spreads.
- The US fastest-growing cryptocurrency pairs available include various options such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, Neo, and others.
CMC Markets Review: Commissions & Fees
During the Annual Awards event in 2023, CMC Markets was declared the Fees and Commissions category winner. The company consistently provides low-spread offerings to all accounts and customer segments.
CMC Markets Fees
- Equity trading charges begin at 0.10%, and additional expenses may be incurred, such as a nominal premium for a Trader offering a guaranteed stop-loss order that will be reimbursed if the order is not fulfilled.
- Based on our CMC Markets review, we have found that this broker earns its revenue through commissions, average spreads, or a combination of both, which varies depending on the asset the user is trading publicly.
- Comparing trading fees for CFD brokers is challenging because it involves considering several factors, such as overnight holding charges, real-time market data feeds, and swap rates. Any omission of these aspects can lead to an incomplete analysis.
- The starting spread for FX pairs is 0.7 pips, a highly competitive rate. Additionally, commissions are applied to the transactions.
- The broker imposes a monthly fee of £10 for inactive bank accounts but offers free live or dynamic data to investors who qualify for the active investor tier.
- The additional details presented are derived from an average of 30 monthly trades. The minimum trade amount is set at $1000 for all markets worldwide. There is no charge for the initial buy order executed on each trading day.
CMC Markets Withdrawal Fees
- CMC Markets charges different fees for withdrawals or inactivity based on the method chosen by the trader.
- The company provides different ways of withdrawing funds and charges fees for processing. The duration of processing may differ depending on the withdrawal method selected.
- Each broker has their own set of regulations and guidelines for withdrawing funds from trading accounts they favor.
- Traders using CMC Markets investment accounts can withdraw their funds to a Payoneer account or a regular bank account via wire transfer.
The methods for making deposits and withdrawals that are accepted include:
- Debit card
- Credit card
- Electronic Wallets
- Bank transfer
CMC Markets Review: Mobile Trading Apps
The mobile application of CMC Markets is well-organized with numerous research tools, advanced charts, preset watchlists, news and educational content, and other features. In short, CMC Markets provides an excellent user experience through its mobile app.
Charting: The mobile app of CMC Markets has an equally impressive charting feature as the web version of the Next Generation platform. Although it only offers 29 out of 86 technical indicators, it still stands out compared to its competitors.
Market research: CMC Markets offers a variety of research categories, including Intraday Update, Morning Call, Price Mover, and Evening Call, as well as other themes accessible through the Next Generation mobile app. The research material includes CMC TV, educational content, webinars, and 23 videos guiding trading strategies.
According to a CMC Markets review, if you subscribe to an event in CMC Markets' economic calendar, you will receive an alert when the event or news release time is approaching, which is a helpful feature.
Ease of use: Unlike major players in the industry, CMC Markets' web and mobile versions don't have the automatic syncing of indicators. However, the watchlists sync with the web version, and users can create presets of the layout with added indicators to apply to other charts on the CMC Markets mobile app.
App overview: The mobile app of CMC Markets has a similar appearance and sensation as its web-based counterpart, the Next Generation platform. The app's creation demanded significant time and effort from CMC Markets, considering the difficulty of arranging a vast amount of data in a small screen space.
Other tools: The CMC Markets mobile app has pre-made watch lists useful for spotting potential trades. These lists consist of popular items, price changes, and trending categories.
Other Trading Platforms
The trading platform offered by CMC Markets, known as Next Generation, is considered one of the best in its category. Even the most discerning traders will find it impressive due to its speed, reliability, and abundance of useful tools and features. CMC Markets also offers the best forex Desktop trading platforms and the best forex mobile trading platforms.
CMC Markets has expanded the number of forex pairs available on MetaTrader from 38 to 176, which has increased the total number of tradeable products to 220.
Although this still falls short of the impressive 12,000 forex pairs offered on the CMC Markets Next Generation platform, CMC Markets' MT4 offering has been upgraded with several enhancements introduced in 2022 to improve the execution quality in line with its in-house platform.
According to our CMC Markets review, the Next Generation platform offers a wide range of charting tools and features. This includes 80 technical indicators and studies, 40 drawing tools, and up to 73 candlestick patterns (including 60 easily attachable ones and 13 chart patterns).
Notable charting features on this platform include the Breakout and Emerging Patterns tools. These chart patterns can adjust automatically when the chart time scale changes, allowing traders to scan through different time frames (from one minute to monthly) and quickly identify any patterns present.
CMC Markets' Next Generation platform does not allow for the execution of automated trading strategies. However, it does offer advanced order types like the Boundary Order, which enables traders to establish deviation parameters and restrict potential slippage.
CMC Markets' MT4 platform is a good choice for automated trading for those willing to settle for a smaller selection of tools.
While evaluating CMC Markets' platforms, we found Next Generation's design impressive as it prioritizes speed and user-friendliness. The layout wizard of the platform allows users to select from predefined layouts or personalized setups and choose between floating or fixed windows.
The feature of module linking is available in five different color-coded levels, which helps in saving time. This function facilitates the update of the instrument displayed on your chart by clicking on the matching symbol in your watchlist.
Based on our CMC Markets review, the platform may require some time to set up if you choose a non-default layout, but it is still user-friendly.
CMC Markets Education Resources
Based on our CMC Markets review, the company provides an extensive range of educational resources, including written materials, videos, and platform tutorials. These resources offer a diverse range of tools and features to assist traders in their endeavors:
- Trading educational articles
- Tutorial videos
- Demo account
- General educational videos
CMC Markets offers educational articles designed to be user-friendly, with concise videos and graphs to explain complicated trading procedures.
These articles cover a range of topics, from CFD basics to advanced trading strategies, and some are based on the insights and experiences of seasoned traders and thorough CMC Markets review.
CMC Markets Review: Market Research
According to our CMC Markets review, it has consistently earned our Best in Class designation for its research services every year due to the variety of top-notch, in-house, and third-party market research and analysis options it provides. Some of these include:
CMC TV is the primary broadcasting service provided by the broker and is similar to IG TV. It generates top-notch market analysis videos.
Although CMC Markets did not produce content as frequently on its main YouTube channel this year, it was observed that the Opto CMC channel had been actively creating quality content. This includes interviews with industry professionals and news videos from ETF TV throughout the week.
Market News and Analysis
The News and Analysis section of CMC Markets provides written research created by their team of analysts, as well as Reuters news headlines.
They offer thorough market coverage by asset class through their Insight and Weekly Outlook series. Daily articles on international markets and related subjects are provided on the Opto Trading Intelligence page of CMC Markets.
CMC Markets provides a wide range of research materials that includes its own Insights News section, CMC TV, a bi-monthly print publication, and the Opto Trading intelligence portal that features articles, podcasts, and a print magazine issued every four months. In addition to that, they also offer third-party content from reputable sources such as Reuters and Morningstar.
CMC Markets Review: Frequently Asked Questions
This section of our CMC Markets review covers common questions you may have about the trading platform.
Are CMC Markets Good for Traders?
CMC Markets has received high ratings as the best forex broker, providing diverse tradable assets. This broker offers many features for traders of all experience levels, including a platform with many features.
According to a CMC Markets review, CMC Markets offers exceptional customer service, educational resources, and advanced market research tools.
Is CMC Markets Platform Good for Beginners?
CMC Markets provides educational resources and tools to help beginners learn about trading. The platform's demo account feature allows new traders to practice trading with virtual funds before risking real money.
That said, the platform can be overwhelming for new traders due to the sheer amount of information and tools available, and it may take some time to get used to navigating the interface.
How Long Does It Take To Withdraw Money From CMC Markets?
It may take up to five business days for withdrawals to be processed by CMC Markets. Domestic banks typically process withdrawals within one to two business days, while international banks may take between three to five business days.
Based on our CMC Markets review, it is important to note that this processing time can vary depending on the specific bank used.
Who Owns This CMC Markets Platform?
In 1989, CMC Markets was founded by Peter Cruddas under the name Currency Management Corporation. It was later rebranded to its current name and is headquartered in London, providing trading services to traders worldwide without any geographical limitations.
Can You Trade Crypto on CMC Markets Platform?
Using a CFD account with CMC markets makes trading Bitcoin possible without owning the best crypto exchanges. This approach enables you to predict Bitcoin's price fluctuations and can help you know how to trade crypto CFDs.
CMC Markets Review: Final Thoughts
After a thorough CMC Markets review, it can be concluded that CMC Markets is a reputable broker that adheres to high-level regulatory standards.
It is a leading provider of global forex and CFD brokerage services, boasting of low forex fees, access to various research tools and trading platforms, and excellent customer service. While there are minor flaws, the overall service provided by CMC Markets is exceptional.
Opening an account with this broker is a simple process, and they offer a variety of products such as forex, bonds, mutual funds, stocks, and more.
We recommend that the best forex traders consider this broker due to its outstanding features and no minimum deposit requirement, but it is advised to exercise caution.
According to a CMC Markets review, customers can select dynamic data and find information on the provider's website regarding their target market determinations.