CMC Markets
CMC Markets
Rating: 88%
Min Deposit
$ 0
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CMC Markets Forex Broker - Your Experienced Financial Partner in FX Trading

Currency Management Corporation CMC Markets forex is a financial broker that offers access to several markets in the world. This UK-based firm provides trading opportunities in the foreign exchange (forex; FX) market, spread betting, and contract of differences (CFD) markets. With its headquarters in London, UK, CMC markets also has offices in Sydney, Singapore, and 11 other international cities.

It is also important to note that CMC Markets is listed on the London Stock Exchange and is regulated under four tier-1 firms, underscoring its reliability and making it one of the most experienced and capable forex brokers in the trading business with world-class service.

  • Over 30 years of experience
  • Educational guide and webinars
  • No minimum deposit
  • Low FX fees and no charge for most deposits or withdrawals
  • Over 12,000 instruments to trade
  • Analysis with in-house specialists

A Brief History of CMC Markets

CMC Markets was founded by Peter Cruddas back in 1989, primarily functioning as a market maker in the FX market. In 1992, it was authorized by the Financial Services Authority in the UK. Five years later, this pioneering company launched its online trading platform.

At the turn of the century, CMC Markets expanded its offerings to include CFD markets, followed by the introduction of online spread betting in 2001. The introduction of these two instruments took CMC markets to new heights.

CMC Markets Review Summary

CMC Markets is, overall, an all-encompassing broker. It offers everything an online trading company must offer. Whether it be security, account types, spreads, or the number of instruments available, this broker does a good job in all the domains.

Licenses
Licenses

CMC Markets is a fully licensed firm. It is authorized by five regulators, out of which four are tier-1 and one, tier-2.

Platforms
Platforms

CMC Markets has an in-house trading platform called "Next Generation," which is available on both web and mobile trading platforms. Additionally, an MT4 platform is available.

Privacy and Protection
Privacy and Protection

CMC Markets has been operating for over 20 years now. It is also listed on the London Stock Exchange.

Spreads/Fees
Spreads/Fees

Spreads differ across instruments. Overall, the trading fees are moderate. The spread for currencies starts from as low as 0.6, while the minimum spread for commodities is 0.26.

Mobile
Mobile

The broker uses the "Next Generation" trading platform on its mobile user interface (UI). The UI is simple to use, smooth, and highly responsive. Therefore, it is worth using.

Customer Care
Customer Care

Customer support on CMC Markets is available 24/5. Users can contact the broker through various channels. The customer support is extremely helpful.

Regulators of the CMC Markets

Obtaining licenses from a tier-1 regulator is a significant accomplishment. CMC Markets boasts licenses from 4 tier-1 regulators, with an additional license from a tier-2 regulator based in New Zealand. This comprehensive regulatory framework solidifies CMC Markets a trusted broker.

  • Financial Conduct Authority (FCA – 173730);
  • Australian Securities & Investment Commission (ASIC – 238054);
  • Investment Industry Regulatory Organization of Canada (IIROC);
  • Monetary Authority of Singapore (MAS).

Being a regulated firm, CMC Markets has to follow the rules for dealing with retail/private client money. This means that your money is considered retail/private client money unless you are told otherwise, and you agree to give up the ownership of your funds.

Retail/private client money, such as cash, margin, and unrealized gains are kept separate from CMC Markets' funds. This separation ensures the safeguarding of retail/private client funds, making them inaccessible to creditors in the event the company goes bankrupt.

Retail/private client money is held in separate bank accounts at reputable banks, such as NatWest, Barclays, Lloyds, and Barclays Bank Ireland PLC Frankfurt Branch.

CMC Markets
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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Trading Instruments Offered by CMC Markets FX Broker

CMC Markets excels in its instrument offering. There is a large array of products on offer to its clients. Below are the asset classes provided by CMC Markets to its clients:

FX

One can trade currency pairs in CMC Markets as a CFD. Traders can trade CFDs of approximately 300 currency pairs. CMC Markets offers all three types of currency pairs – major, minor, and emerging pairs.

  • Major pairs: EUR/USD, USD/CAD, GBP/USD, etc.
  • Minor pairs: EUR/GBP, GBP/JPY, AUD/CHF, CHF/JPY, etc.
  • Emerging pairs: USD/NOK, USD/HKD, EUR/CZK, etc.

Indices

Clients can trade CFDs using indices, similar to how FX pairs are traded. The broker offers over 90 indices. Indices available for trading on CMC Markets forex brokers include Germany 40, UK 100, US 30, Australia 200, Canada 60, China A50, Euro 50, and France 40.

Cryptocurrencies

With CMC Markets, clients can trade CFDs on cryptocurrencies, and the good news is CMC Markets Bitcoin trading is also available. Some of the most traded cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, and Dash are available for trading. Besides, CMC Markets offer a unique range of cryptocurrency indices for trading. With indices, a trader does not need to take a single position but instead holds multiple positions in different coins. Three indices are offered:

  • All Crypto Index – As the name suggests, this index contains all the cryptocurrencies available on the broker's platform.
  • Major Crypto Index – This index contains and keeps track of the market's largest, most recognized, and most liquid cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.
  • Emerging Crypto Index – The emerging crypto index is composed of the altcoins such as Dash, NEO, Tron, Monero, Stellar Lumens, and Cardano.

Commodities

One of the most traded instruments among CFDs is commodities. CMC Markets offers a wide range of commodity products. Clients can engage in both cash as well as forward commodities trading. Some commodities traded at high volume include Brent and WTI crude oil, natural gas, gold, and silver. The spread for gold starts from as low as 0.26 points. Overall, CMC Markets' commodities trading offering is superior.

Shares

CMC Markets showcases its versatility in offering instruments to trade in this category. This broker allows a client to take positions on over 9,400 global shares. Apart from shares, it has 1,000 exchange-traded funds for trading. Some extensively traded shares include Apple, Tesco, BP, Lloyds Banking Group, and Rio Tinto.

Treasuries

CMC Markets is one of the few brokers that offers treasury trading. Some of its treasury products include Canada Bank 3-Month, Euro BTP, US T-Bond Cash, and UK short sterling – cash.

Highlights of CMC Markets' Offering:

  • Availability of several kinds of instruments.
  • Unique feature of crypto indices.
  • CMC Markets Bitcoin trading offers competitive rates compared to other brokers.
CMC Markets
CMC Markets is a UK-based financial services company that offers online trading in shares, spread betting, CFDs, and FX across world markets.
CMC Markets Broker – Take a Better Position

CMC Markets. Fees, Commissions, and Spreads

CMC Markets charges spreads on all of its offered products. Let us review the spreads on each one of them. The variation in spread charged for major, minor, and exotic pairs is as follows: The minimum spreads for major pairs such as EUR/USD, USD/CAD, and GBP/USD starts from 0.6. For minor pairs such as AUD/GBP, AUD/JPY, and EUR/NZD, the minimum spread starts from 0.9. Finally, for emerging pairs, the minimum spread starts from as low as 1.6 and goes up to 85.0. CMC Markets forex leverage can go up to 500×, which is a great offering.

Index Spreads

There are over 60 cash and forward indices available for trading. The spread on these indices starts from as low as 1 point and changes with time. For example, for UK 100, the spread change over the trading day is as follows:

Minimum spread Trading hours
2 07:00 – 8:00
1 8:00 – 16:30
2 16:30 – 21:00
4 21:00 – 0 7:00

Cryptocurrency Spreads

You can trade popular cryptos by pairing them against the US dollar on a CFD or spread betting account. The trading hours for these cryptocurrencies are from Sunday at 11 pm to Friday at 9 pm. The minimum spread for some of the most traded cryptocurrencies is given below.

Cryptocurrency Minimum spread
Bitcoin/USD 75
Ethereum/USD 5.25
Bitcoin cash/USD 1.3
Litecoin/USD 50
Ripple/USD 0.7

Commodities, Shares, and Treasuries

The minimum spread for commodities starts from as low as 0.26 and goes up to 20. It is 0.3 for natural gas and 20 for feeder cattle. CMC Markets offers 9000+ global shares. For shares, the broker charges something called the CMC additional spread. This spread differs across different countries.

CMC Market's additional spread in the UK, Austria, Belgium, Germany, France, and Japan is 0.10%. However, it is 0.12% in Italy, 0.18% in Poland, and 0.25% in Singapore. In the US and Belgium, the spread varies from 1 to 4 cents (each side). Regarding treasuries, the minimum spread is 1.0 and goes up to 6.0. The average spread falls somewhere around 2–2.5.

Holding Costs

The spread bets held past the end of the trading day (5 pm, NYC time) are subject to a holding fee. This cost can be positive or negative based on the currency traded and applicable holding CMC Markets rates. For shares and indices, the holding rates depend on the underlying interbank rates for the instrument, plus 0.0082% on a long position and minus 0.0082% on a short position.

Other Costs

Some of the other costs that the broker charges include rollover cost, guaranteed stop-loss order charge, market data fees, commissions (only on share CFDs), and an account inactivity charge of 10 GBP charged if the account is not used at all for a period of 1 year.

Scalping and Hedging

With this leading online broker, you can scalp and hedge your funds.

Pros

  • The spread is quite small for several instruments.
  • There is no commission on currencies, indices, cryptos, and commodities.

Cons

  • The spread goes up to 85 for 1 currency pair, making some instruments' rates quite high.
  • A commission is charged on share CFDs.

Account Types and Registration Steps

There are 3 CMC Markets account types you can create. Let's explore each of them in detail.

CFD Account

As the name suggests, this is an account for trading CFDs. With CMC Markets, you can trade thousands of CFDs on different markets such as FX, indices, commodities, cryptocurrencies, shares, and treasuries. Below is a breakdown of instruments available in each market:

  • Forex – 300+
  • Indices – 80+
  • Commodities – 100+
  • Shares – 9400+
  • Cryptocurrencies – 21
  • Treasuries – 50+

Spread Betting

With this unique account, you can trade tax-free on the price movements of several products, ranging from currency pairs and indices to commodities, cryptocurrencies, shares, and treasuries. A CFD account provides access to more than 9500+ instruments to trade, whereas a spread betting account offers 9000+ instruments. However, the spreads in this account are more or less the same as those for a CFD account.

Note: Spread betting is currently available only for clients who are residents of the UK or Ireland.

Corporate Account

The corporate account offers many more offerings than the other 2 accounts. With CMC Markets' corporate account, you can access prime derivatives, prime FX, and API direct services. However, most account features, platform features, number of instruments, and costs are the same as those of the other 2 accounts.

CMC Markets Account Opening Process

A CMC Markets free demo account is automatically created once the e-mail is verified. The process is simple and smooth.

Opening an account with CMC Markets is simple and straightforward. Below is a step-by-step guide to get started:

Step 1:

Log on to CMC Markets. Locate the CMC Markets Login and "create account" options. Click on "Start trading."

CMC Markets signup procedure 1
Step 2:

A small pop-up window will open, as shown. Here, you will have to enter your e-mail address and choose a password.

A one-time password will be sent to your registered е-mail address to verify the authenticity of the provided е-mail. After verification, a CMC Markets demo account will automatically be created for you. If you wish to create a live trading account, click on the "Continue" button.

CMC Markets signup procedure 2
Step 3:

You will have to fill in the details shown in the image below.

CMC Markets signup procedure 3
Step 4:

After clicking "Get started," there are 3 steps left to complete the account opening process. In the first one, you will have to give your personal information such as name, date of birth, nationality, mobile number, etc.

You must then provide your "Address" details and fill out the "Your finances" page to complete the creation of your real account.

CMC Markets signup procedure 4
Step 5:

Once the above step is complete, the system will redirect you to the "My Accounts" tab, where you will have to upload the ID proofs below.

The support team will contact you with any queries, or your account will be activated. You can visit the broker's main page CMC Markets sign in and start trading by providing your credentials.

CMC Markets signup procedure 5
CMC Markets
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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CMC Markets Deposits and Withdrawals Options

CMC Markets FX broker offers its clients a range of convenient deposit and withdrawal methods. Traders can fund their accounts using popular options such as bank wire transfers, credit/debit cards, and electronic payment systems like PayPal.

Deposits

Users can fund their CMC Markets account via credit card, debit card, and bank transfer. These are the standard methods and are universal to all countries. In Australia, clients can also use POLi, BPAY, and PayPal. Moreover, there are different funding methods for customers in different regions. There is no CMC Markets minimum deposit requirement. Also, note that the card or account used for a deposit must and should match the one on the trading account; otherwise, the deposit amount shall be returned.

Withdrawals

Withdrawal to any account is free of cost. However, in Australia, a transaction fee of 1% is charged for credit card deposits and 0.6% for debit card deposits. Withdrawals from CMC Markets are strict: the broker adheres to several rules and conditions. The FX broker follows anti-money laundering rules, one of which dictates that the withdrawal method should be the same as the deposit method.

Also, if the withdrawal amount is very large, you might be asked to withdraw only via bank transfer. Moreover, during withdrawal, the bank account details and the trading account details must completely match. Withdrawals are processed the same day if the request is made before 2 pm for UK residents and 11 am for non-UK residents.

Pros

  • No minimum deposit requirement.
  • No fee on withdrawal to any account.

Cons

  • E-wallet deposits are not universal.

Safety and Fund Protection Assured for Traders

One of the most critically examined factors in choosing a broker is its security. As mentioned, CMC Markets is licensed by 4 tier-1 regulators, creating a high level of trust. It is also worth mentioning that this company has been in the brokerage business for over 20 years, creating confidence in its future sustainability.

CMC Markets provides upfront protection as well. That is, in case of conflict of interests and dishonest practices, clients are safeguarded because the broker is under the supervision of regulators. Moreover, European clients get a 50,000 GBP insurance protection of their funds under the Financial Services Compensation Scheme. This insurance scheme comes into effect when a broker faces bankruptcy or goes into administration, ensuring that clients (creditors) are paid.

Pros

  • The broker is authorized by 4 tier-1 regulators.
  • The broker is listed on the stock exchange.
  • The broker has experience of over 2 decades.

Cons

  • The insurance protection scheme does not apply to non-European clients.

Get to Know the Trading Platforms at CMC Markets

MC Markets has exceptional trading platform offerings. The broker provides 3 platforms: Next Generation, MetaTrader 4, and mobile trading.

Next Generation

This award-winning platform is equipped with every feature a trader needs for analysis. The platform is available on both web as well as mobile interfaces. Both of these platforms give a complete package of tools and features to enhance trading. From technical indicators and several drawing tools to news insights, this platform is ideal for all types of traders.

MetaTrader 4

MetaTrader 4 is one of the most popular CMC Markets trading platforms for trading currencies, indices, commodities, et cetera. This platform is simple to understand, fast, and very user-friendly. Furthermore, it is equipped with great features that are extremely helpful to technical analysts.

CMC Markets Next Generation Platform

Mobile Trading – 2 Options Available

For mobile trading, customers can choose either the Next Generation or MetaTrader 4 platforms. These mobile applications are available on both iOS and Android operating systems.

We found the user interface and features to be exceptional. The platforms have several trading features and tools and are as smooth as butter.

Pros

  • The broker offers Next Generation and mobile platforms in addition to MT4.
  • There are numerous trading tools for technical traders.

Cons

  • Novice traders can find it difficult to trade on the mobile platform.
  • Android
  • iOS

Trading Features and Special Tools

As mentioned, 3 trading platforms are enabled for customers: 2 of them (Next Generation and the mobile platform) have been exclusively developed by CMC Markets. Since MetaTrader 4 is one of the most popular and well known trading platforms, we shall explore the features of the Next Generation platform.

Trading Features – Next Generation

Chart features

To support your analysis, there are multiple chart types, over 115 technical indicators, several drawing tools, and a pattern recognition system. Moreover, there is a chat forum community.

There are about 12 types of charts accessible on this platform, including candlesticks, bar lines, spread, Heikin Ashi, and line breaks.

Over 35 drawing tools can be used on your charts. You can draw trend lines, support and resistance lines, Fibonacci retracements, and more.

Technical Indicators

In doing analysis, almost every technical trader requires indicators. For the convenience of such traders, the Next Generation CMC Markets trading platform is equipped with more than 115 indicators, including simple averages, Bollinger Bands, MACD, and RSI.

Pattern Recognition

This platform is equipped with a pattern recognition feature that can scan for different technical patterns. For example, the tool can scan for patterns such as head and shoulders, wedges, and triangles.

Client Sentiment

With this feature, you will know what percentage of CMC Markets clients have gone long versus the percentage of clients who have gone short. This knowledge can be very helpful in understanding client sentiment. Other charting features include:

  • Extensive price history
  • Several chart intervals
  • Customizable charts
  • Price action comparison
  • Direct trading from charts
  • Module linking
  • Chat forum community

News

CMC Markets global analysts always keep their clients updated on market developments.

Specifically, the platform grants access to Reuters news, market insights, and a market calendar.

Order Execution

The order execution on the Next Generation platform is smooth, fast, and fully automated. Also, there are multiple order types for traders to manage their trades efficiently and reduce risk.

Multiple Order Types

There are 6 order types you can place on this platform.

  • Market orders
  • Limit orders and stop orders
  • Partial closing of trades
  • Stop-loss orders
  • Trailing stop-loss orders
  • Take-profit orders

Moreover, there is a unique order type called guaranteed stop-loss order (GSLO). GSLO is a stop-loss order that will give you the surety that your stop loss will be triggered at the exact price you want, irrespective of market conditions. Note that there is a small premium charged for this order.

Execution Alert

On the CMC Markets Next Generation platform, you can set a notification for an order execution or a price crossing a particular level. You can choose to receive the notification over e-mail, SMS, or as a pop-up.

Pros

  • There are several new feasible trading features.
  • The pattern recognition tool is very helpful. It reduces analysis time.
  • The GSLO order is available.

Cons

  • There is a premium on GSLO orders.

Reliable and Professional Customer Service

The customer support on CMC Markets is impressive. Clients can get in touch with the support team through the following ways:

Customer support operates 24/5. The customer support team is highly receptive and answers queries within a few minutes. On live chat, questions are answered instantly. As far as the quality of support is concerned, they are truly professional in their responses. If you're into social media, you can reach them via Twitter and Facebook. Moreover, you can get help by checking out the frequently asked questions (FAQs) on the official website.

Customer support offers assistance in 9 languages: Polish, French, Deutsch, Spanish, Svenska, English, Italian, and Norwegian.

Pros

  • Support is extremely responsive and helpful.
  • The queries are answered within a few minutes.
  • Support is available in different languages.

Cons

  • Possible delays or errors in processing fund withdrawals or deposits.
  • They may provide inconsistent or inaccurate information about their products or services.
Live Chat
Yes
Phone
+44 20 7170 8200

CMC Markets is available in the following languages:

French
German
Polish
Spanish
Swedish

Additional Benefits CMC Markets Has to Offer

Education

On the official website of CMC Markets, one can obtain knowledge, catering for beginners to professionals, all for free. The broker offers trading webinars, trading strategies for professionals, and even guides on its platform. The available education is divided into 3 levels: beginner, intermediate, and advanced.

News and analysis

With CMC Markets, you can always stay updated on the happenings in the market. The broker's website provides timely news updates. With features like economic calendar, non-farm payrolls, market insights, and a weekly outlook, you can stay well-informed about markets.

Visit “FOREX BROKERS ACADEMY” for more information.

Go To ACADEMY

Awards & Recognitions

In this CMC Markets review summary, we will not miss the opportunity to say that CMC Markets is a great broker that has satisfied clients since 2013. In support of its exceptional performance, below are some of the awards it broker has earned.

Award Year
Best Online Trading Platform 2013
Best Investor Education 2014
Best Mobile Trading Application 2014
Best Forex Customer Service 2015
Best Research Tools 2016
Best Value for Money 2017
Best Education Materials/Programs 2018
Highest Overall Client Satisfaction 2018
Best Trading App 2019
Best Platform Features 2020
Highest Overall Customer Satisfaction 2020
No.1 Web-based Platform 2021

Hence, from the above awards, we can conclude that CMC Markets has been doing exceptionally well in all aspects, including customer service, trading platforms, trading features, education material, and overall trading experience.

Best Trading App 2019
Financial Times Investment & Wealth Management Awards
No.1 Web-based Platform 2021
ForexBrokers.com
Highest Overall Customer Satisfaction 2020
Investment Trends UK Leverage Trading Report

FAQs

Does CMC Markets Offer a Demo Account?

Yes, CMC Markets demo is free, and you can place orders using virtual cash. This CMC Markets free demo account allows traders to try different platforms and features and then open a real account that meets their requirements.

How Do You Activate a Real Trading Account at CMC Markets?

Once registration and verification are complete, your CMC Markets account will be enabled. However, to execute real trades, you will have to add funds.

How Can You Get a Refund of the Premium from CMC Markets When the GSLO Is Not Put to Use?

After you remove the GSLO order from the account, convert this order to a regular or trailing stop-loss order to reclaim your premium. Another way to reclaim your premium is by closing your position.

Can You Shift Accounts on Your Trading Platform at CMC Markets?

Yes, you can shift accounts right from your trading platform. On the main screen of the trading platform, click either on the account number or the power button, and then click on the 'Switch accounts' to access other accounts.

Conclusion

In this CMC Markets forex review, we've covered every aspect one must consider before choosing a broker. First, this broker is quite secure as it has been in the market for over 2 decades and is licensed by tier-1 regulators. Secondly, the spread, fee, and commission are satisfactory: they are neither too high nor too low. The spread is well-priced, ensuring affordability to traders of all account sizes. Regarding the instruments offered, there are products meeting the needs of almost all traders.

The trading platforms, overall, offer an excellent experience. We are highly impressed by all its features, ranging from technical tools to news and insights. The platforms are, no doubt, ideal for the majority of clients.

We also like the concept of GSLO as it can prove to be very helpful for clients trading with large volumes. The support offered is exceptional. The queries are answered in a few minutes, and the solutions are precise and helpful. In summary, this broker can be considered ideal for all types of traders (beginners, intermediates, or advanced). So, if you're looking for a standard platform, you can consider CMC Markets.

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