This review on CMC Markets aims to give you a detailed evaluation of the broker and help you decide if it meets your trading needs. Our analysis covers essential aspects of CMC Markets such as its regulatory compliance, product offerings, account types, trading fee, payment methods, trading platforms, advantages, disadvantages, and customer support service. With a thorough examination of these factors, you can make an informed decision on whether IC Markets aligns with your investment objectives and trading approach.
Table of Contents
CMC Markets Broker Overview
CMC Markets is a global Forex and CFD provider established in 1989 by CMC Group, a publicly-traded company listed on the London Stock Exchange and a constituent of the FTSE 250 Index. CMC offers a wide variety of global markets, including forex, indices, commodities, shares, ETFs, cryptocurrencies, and treasuries, with access to over 12,000+ instruments.
CMC Markets offers deep liquidity and attractive spreads on over 330+ currency pairs through web and mobile trading. Its award-winning proprietary platform, Next Generation, offers strong security, industry-standard charting, advanced order executions, in-class insight and analysis, and customization of its features. For traditionalists, MetaTrader 4 is offered. CMC’s account holders also get access to dedicated customer support services and a range of educational resources, including, courses, tutorials, webinars, and events.
CMC Markets Features
| Broker | CMC Markets |
|---|---|
| Foundation | 1989 |
| Head Office | CMC Markets UK plc, 133 Houndsditch, London EC3A 7BX. |
| Global Offices | United Kingdom, Austria, Canada, China, Germany, New Zealand, Norway, Poland, Singapore, Spain, UAE, Italy, and France. |
| Regulations | ASIC (Australia), IIROC (Canada), MAS (Singapore), and FCA (United Kingdom). |
| Publicly Listed | Yes |
| Products | Forex, CFDs, Spread Betting |
| Trading Platforms | Next Generation and MetaTrader 4 (MT4). |
| Mobile Trading | Available |
| PC Trading | Available |
| Minimum deposit | $0 |
| Maximum Leverage | 1:1 – 1:500 1:1 – 1:30 (EU Traders) |
| Minimum trade size | 0.01 |
| Demo Account | Available – Open Demo Account |
| Base Currencies | GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD |
| Payment Options | Wire Transfer, Credit / Debit Cards, Electronic Payments. |
| Asset Classes Offered | Forex, Indices, Commodities, Shares, ETFs, Cryptocurrencies, Treasuries. |
| Languages | English, German, French, Spanish, Italian, Polish, Swedish, Norwegian |
Pros of CMC Markets
- Regulated by multiple top-tier financial regulatory bodies, including the FCA and ASIC, IIROC, and MAS.
- Listed on the stock exchange which builds more trust and transparency.
- Offers a wide range of over 12,000+ financial instruments, including over 330 currency pairs.
- Provides traders with fast trade execution speeds and competitive pricing.
- Offers low forex-trading fees.
- Offers a loyalty program, CMC Price Plus, which rewards active traders with reduced trading costs.
- Offers a choice of industry-standard trading platforms including Next Generation, its user-friendly proprietary trading platform, and the popular MetaTrader 4 trading platform.
- Good customer support service.
Cons of CMC Markets
- Charges an inactivity fee of $10 (or currency equivalent) on accounts with no trading activity for a period of one year.
- Does not offer 24/7 customer support
- Provides limited options for funding and withdrawing funds.
- Charges a fee for withdrawals under a certain amount
- Provides limited educational resources for more advanced traders.
- Some traders have reported issues with platform stability and glitches in the past.
- Does not accept US residents.
Regulation.
CMC Markets is licensed and Regulated by top-tier regulatory bodies around the world, theses include;
- Australian Securities & Investment Commission (ASIC),
- Investment Industry Regulatory Organization of Canada (IIROC),
- Monetary Authority of Singapore (MAS), and
- The Financial Conduct Authority (FCA).
These regulatory bodies ensure the strict compliance of financial institutions to the laws that protect financial consumers.
Asset Classes
CMC Markets offers a wide range of asset classes with over 10,000+ instruments to trade from. Assets classes offered by CMC Markets include; Forex, Indices, Commodities, Shares, ETFs, Cryptocurrencies, and Treasuries.
| Assets | No. Instrument Offered | Margin |
|---|---|---|
| Forex | 300+ | 3.3% |
| Indices | 60+ | 5% |
| Cryptocurrencies | 15 | 50% |
| Commodities | 90 | 5% |
| Shares & ETFs | 9,000+ | 20% |
| Treasuries | 30+ | 20% |
Spreads and Commissions
CMC Markets offers one of the lowest spreads compared to other industry-standard brokers, with spreads on major instruments going as low as 0.3 pips. Also, commissions are charged when trading shares on the brokerage platform, with a minimum commission charge of $7.
Trading Fees
CMC Markets provides its clients with a very transparent fee structure with no hidden charges around the corner.
The fees charged by the brokerage platform include; an overnight fee charge(if held overnight); dormancy fee (after one year of inactivity); market data fee and a guaranteed-stop-loss-order premium which is refunded in full if GLSO (guaranteed-stop-loss-order) is not triggered.
Deposit and Withdrawals
CMC Markets allows the processing of payments and withdrawals through;
- Wire transfers and
- Card payments.
Note – Account funding can only be done with a card or account in the account holder’s name, as third-party names would not be allowed for the processing of payments and withdrawals.
Also, Withdrawals on CMC Markets are processed on the same day, as long as the withdrawal is made before the cut-off time by 2 pm (for clients in the UK) or 11 am (for clients outside the UK).
Trading Platforms
CMC Markets provides clients with two trading platforms, one of which is their advanced proprietary trading platform called the Next Generation trading platform and the other is a third-party trading terminal called the MetaTrader 4 which has been one of the most popular trading terminals amongst traders.
CMC Trading Platform Details
| CMC Markets Platform Features | Specifications |
|---|---|
| Trading Platforms | Next Generation and MetaTrader 4 (MT4). |
| Social Trading: | Yes |
| Copy-Trading: | Yes |
Customer Support
CMC Markets offers an award-winning customer support service with a dedicated support team with a surprisingly fast response rate, ranging from 3-5 minutes. The customer support team is available 24/ 5 and can be reached via live chats, email, and telephone.
Summary
CMC Markets is a great broker overall, and clients stand to enjoy a bunch of optimal trading features and conditions which include; an advanced and comprehensible proprietary trading platform; over 10,000+ instruments to trade from; low-cost trading; fast order execution; a great customer support team, and much more.
On the other hand, CMC Markets is considered safe and trustworthy to trade with, as they have consistently built a great reputation over the years and are licensed and regulated by top-tier regulatory bodies across the globe including the FCA, ASIC, IIROC, and MAS.