CMC Markets stands out as a reputable forex broker globally, catering to a diverse clientele that includes novices, seasoned traders, and institutional investors alike. Traders can explore this CMC Markets review to learn about a wide range of products, from forex and CFDs to stocks, ETFs, and indices that this broker provides.
They can benefit from feature-packed trading platforms and extensive educational resources. Additionally, the round-the-clock customer support available five days a week is a significant advantage for users.
Introduction to CMC Markets
Founded in 1989, CMC Markets (traded on the LSE as CMCX) is a respected forex broker based in the U.K. While they don’t cater to U.S. clients, it has a solid presence around the globe.
Its trading platforms, including the CMC Markets Next Generation and the downloadable MetaTrader 4, are designed to meet the needs of everyone from newbies to seasoned institutional investors. Plus, they offer mobile apps for iOS and Android, which are perfect for trading on the move.
With around 12,000 instruments available, including CFDs, forex pairs, indices, commodities, shares, and ETFs, there’s plenty to explore. Their comprehensive “Learn” portal helps users get familiar with the platform and develop effective forex trading techniques. With clear pricing, competitive spreads, direct trading from charts, and a demo account for practice, active traders will find a lot to appreciate.
Usability of CMC Markets Broker
CMC broker makes it easy for users to trade on its mobile app, web-based CMC NextGeneration Platform, and MetaTrader 4 platform. All these platforms work smoothly together, including the mobile version, and allow trading in forex pairs, indices, commodities, shares, ETFs, and more.
As per our CMC Markets review, the platform is advanced, with many features and a wide range of assets to trade, yet the website remains simple to navigate. Information is easy to find, whether you’re exploring educational resources, needing customer support, or ready to start trading on a platform. New users can also practice with a free demo trading account to get comfortable with trading.
CMC Markets Pros and Cons
Pros
- Check out the demo account: All you need is your name, email, and a password to create a free CFD practice account and get 10,000 virtual GBP to play with.
- Huge selection of products: Traders can explore more than 12,000 instruments, from forex pairs and indices to commodities, fixed income, stocks, and ETFs.
- Awesome Next Generation trading platform: This top-notch web platform offers incredible insights and analysis, featuring 12,000 instruments, over 115 indicators, and 70 chart patterns.
Cons
- CMC Markets isn’t open to U.S. clients because of regulatory issues, so it can’t be seen as a global broker.
- If you’re a speculative investor looking to trade CFDs, you won’t find any crypto options on CMC Markets’ platforms.
- There’s a big difference in what you get with the Next Generation platform compared to MetaTrader 4. Next Generation offers more features and a wider range of assets, while MT4 is the only downloadable option available.
CMC Markets Trading Experience
When we reviewed CMC Markets CFD broker, we found it offers three unique trading platforms: the CMC Next Generation platform, MetaTrader 4 trading platform, and mobile apps for CMC Markets that you can use on both Android and iOS devices.
1. Desktop Trade Experience
CMC Next Generation is an awesome web-based trading platform that’s often considered one of the top choices out there. It comes packed with a wide array of tools and features that cater to both newbies and seasoned traders alike. You can trade over 12,000 different tradable instruments, including forex pairs, indices, commodities, stocks, ETFs, and fixed income options.
When it comes to user experience, CMC doesn’t skimp on quality. Even with all its features, Next Generation is super easy to navigate. Plus, they offer demo accounts, which are perfect for anyone wanting to practice their trading strategies without any risk. There’s also a selection of cryptocurrencies available, but that’s mainly for professional traders.
For those into technical analysis, the platform has everything you need, including:
- An extensive selection of technical indicators and charting tool
- A price projection too
- Module linkin
- A chart forum
Traders can also take advantage of features like client sentiment, pattern recognition, and customizable layouts. To top it off, the desktop version includes news, insights, and educational resources.
2. Mobile Trade Experience
CMC broker provides trading options for iPhone, Android, and tablets. They say that the trading experience is pretty much the same across all devices, but the web version does have more charts and technical indicators compared to the mobile app.
Here’s what you can expect from the mobile trading experience:
- Mobile-friendly charts featuring 40 technical indicators and 15 drawing tools
- The ability to place, edit, and close trades directly from the charts
- Customizable dashboards
- Sentiment trackers and watchlists
- Access to 12,000 tradable instruments
- Push notifications for price changes, orders, and market events
- Spread betting and CFD trading on various instruments like UK 1000, EUR/USD, gold, commodities, indices, ETFs, and more.
CMC Markets Regulation and Security
CMC broker is super secure and follows strict regulations as per our CMC Markets broker review. They provide top-notch encryption and two-factor authentication and maintain the highest privacy standards. Your data is encrypted while being sent.
CMC uses robust authentication methods and cybersecurity measures. Their team members who handle customer data are trained to prioritize privacy and security.
The company has prestigious regulatory licenses for the U.K., Australia, Singapore, New Zealand, and Germany. CMC has earned our top rating for regulation.
CMC Markets is regulated by the FCA, which, along with U.S. agencies like the NFA and CFTC, is recognized as a leading regulatory authority.
Top Features of CMC Markets
- Great Trading Support: CMC Markets gives users access to a wide variety of research materials. They collaborate with Morningstar to deliver the latest reports on many assets. This is backed by a strong knowledge base that helps traders improve their skills and make smarter decisions.
- Extensive Asset Options: The platform provides over 9,500 tradable assets, including foreign exchange pairs, commodities, indices, shares, bonds, ETFs, treasures, and cryptocurrencies. This diverse selection means there is something for every trader’s preferences and strategies.
- Strong Focus on Customer Service: CMC Markets takes customer service seriously. Their team is available 24 hours a day, 5 days a week, providing support in multiple languages. They promptly reply and resolve any inquiries or issues.
- No Minimum Deposit Requirement: One of the great features of CMC Markets is that there is no minimum deposit needed to start trading. This makes it accessible to everyone. Plus, there’s no minimum withdrawal limit, so you can take out your earnings anytime.
CMC Markets Review – Range of Offerings
CMC is a company that allows people to invest in many different markets and products. You can trade CFDs, which stands for contracts for difference, on various things like forex (currencies), indices (market performance indicators), shares, ETFs (exchange-traded funds), commodities (such as oil and gold), and fixed income (like bonds).
CMC provides a huge selection with 12,000 different trading options, including:
- 330 forex pairs
- Over 80 indices
- 11,000 shares and ETFs
- More than 100 commodities
- Over 50 fixed income instruments
Each of CMC’s trading platforms offers different tools and options. The Next Generation platform is a very powerful one, allowing you to trade in stocks, ETFs, forex, indices, commodities, and fixed income. If you’re only interested in trading forex, indices, and commodities, MetaTrader 4 is a suitable choice.
People in the U.K. and Ireland also have the opportunity to try spread betting, which is another way to speculate on the markets.
CMC Markets Trading Technology
The Next Generation platform provides fast and fully automated trading with various order options. Each year, the company publishes a report detailing how trades were executed. This report includes information on price, cost, speed, and the likelihood of trades being completed.
In 2023, the TCF and Conduct Committee oversaw the execution quality. They monitored these features daily and created monthly reports. These reports contain details about trades by order type, compare execution prices, and offer data on spreads, slippage, and any manual trades.
CMC Markets Fees and Pricing
CMC Markets has a pricing plan that changes based on your trading style, account type, and the assets you trade. Generally, trading costs are low. For foreign exchange pairs, costs start from 0.3 pips, which is quite affordable in the industry. If you have a CFD Account, there are basic charges for trading shares, depending on where the shares are from geographically.
Stockbroking Accounts also have charges that differ based on location. Frequent traders pay as low as $9.90 or 0.075% per trade, whichever is higher. For shares listed in the US, UK, Canada, or Japan, there are no trading charges. However, there are extra costs for additional services like alerts, data feeds, and international bank transfers.
A good feature for frequent CFD traders is the ability to get rebates on forex pairs, commodities, indices, and shares. Once you reach certain trading amounts, you receive rebates that increase with more trading.
Besides regular trading fees, there are subscription costs for accessing some stock market data and for using the Stockbroking Pro platform, which costs $49.00 monthly. There are also charges for holding foreign exchange pairs and commodities, which include a 1% fee.
If you want a guaranteed stop-loss on a trade, the CMC broker charges a fee. If your trading account is inactive for 12 months, a $15 monthly fee applies. However, once you start trading again, you can get up to 3 months of these fees reimbursed.
Another positive point is that CMC Markets does not require a minimum deposit or withdrawal to start trading. You can deposit money in various currencies, making it convenient. They also aim to process customer withdrawals quickly.
Even though the fees can seem complicated, CMC offers some of the best prices for frequent Australian traders compared to other local companies.
Conclusion
It’s clear in this CMC broker review why it stands out as a top choice among brokers in the Australian market. This market-making platform provides an extensive array of asset options, catering to a diverse group of investors and accommodating various trading strategies and preferences.
Moreover, the broker’s trading platforms rank among the industry’s finest, featuring sophisticated charting tools, in-platform news, research, signals, and much more.
As a regulated entity in Australia, CMC Markets adheres to stringent standards that prioritize the security of client funds and interests. Additionally, their exceptional customer service, available in multiple languages, further enhances the overall appeal of their offerings.