CMC Markets Review: Expert Opinion & 107 Customer Ratings



cmcmarkets review

With competitive EUR/USD spreads starting from 0.7 pips and a diverse selection of trading instruments, including forex pairs, shares, and cryptocurrencies, CMC Markets caters to a global audience. The broker is regulated in key markets like the UK, Australia, Singapore, NZ, and Canada, ensuring a high level of trust and safety with a trust score of 91. CMC Markets provides a comprehensive suite of educational resources, including detailed explanations of technical indicators and user guides for their trading platforms.

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  1. A trader working with a broker entity regulated offshore would not have these benefits guaranteed to them.
  2. There are other brokers who are regulated in the UK that you can try out, you should read our review again and check out the CMC Website to decide if they meet your trading needs.
  3. First named Currency Management Corporation and later (thankfully) shortened to simply CMC Markets, the now global London-based trading corporation rapidly outgrew its truly humble beginnings.
  4. Some of CMC Markets’ learning offerings are categorized below by the type of trader.

Alongside these partnerships, it offers institutional liquidity, outsourced trading technology and connectivity, as well as pre and post-trade processing and trade reporting. All of this is available at no additional charge and much of it is available to the public as well as CMC clients. Many of the major providers have a general education program and support their traders with news and in house analysis. However, OPTO stands out from the crowd and to my mind, this elevates the CMC offering above the competition. You can either buy your way in with a minimum deposit of £25k and join their Alpha.

CMC Markets Minimum Deposit and Withdrawal

Clients also have additional asset protection through the Financial Services Compensation Scheme (FSCS), up to £85,000, but no layers of private insurance, which is an omission, given CMC’s large industry footprint. Negative balance protection is now mandated under ESMA rules that went into effect in 2018. The broker’s dealing desk acts as the initial counter-party on all CFD trades and spread bets but pricing is automated through the platforms, reducing conflict of interest potential.

Trade Experience

Platform can be a little unstable at busy «news» periods of the day so you need to manage your stops closely but other than that would highly recommend. Steven Hatzakis is the Global Director of Research for CMC Markets secured Best in Class honors for its research offering in our 2024 Annual Awards, thanks to its diverse lineup of high-quality in-house and third-party market research and analysis. CMC Markets offers CFD trading in the world’s top cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Dash, EOS, Monero, Stellar, Cardano, Neo and Tron. Opening an account with CMC Markets proved to be relatively easy with our team, giving them a score of 8 out of 15. One factor that scored down the brokers ease of account opening score was the comprehensive personal information required, which we found excessive when compared to other top brokers.

Is CMC Markets a Legitimate, Trustworthy Platform? 🤨

This gives me peace of mind that they can be trusted and will always operate in an open and transparent manner. The Next Generation platform from CMC Markets has been meticulously crafted to serve the preferences of today’s traders. It stands out for its intuitive interface and state-of-the-art technology. To create an account, complete the online application form on the CMC Markets website and provide the required identity papers.

cmcmarkets review

cmcmarkets review

CMC Markets provides an outstanding mobile trading experience, allowing for robust and flexible trading from anywhere. I think this may cost them a few clients since crypto is becoming increasingly popular every day. If you prefer a broker that offers crypto funding, you might want to check out Hugo’s Way. Withdrawal timeframes at CMC Markets vary based on the method utilized, with bank wire transfers normally taking 1 to 2 working days and credit/debit card withdrawals processing in the same period. However, owing to banking processes, it may take longer for funds to reach your account. No, CMC Markets generally provides CFDs, forex, and spread betting but does not often provide options trading.

What Can You Trade With CMC Markets?

cmcmarkets review

The company also has offices in 12 countries, with its main headquarters in London. The broker’s website is available in nine languages — English, French, Spanish, Austrian, German, Norwegian, Swedish, Polish, and Italian. We tested it for a second time, and the wait time was less than 2 minutes and the answers to our questions were relevant, cmc markets review although the live chat agent left the chat abruptly. When our team tested it for the first time, we did not get any response after about 5 minutes but received an email within 30 apologizing for the delay and providing an answer to the question we asked. Step 4) Fill out your full name, select account currency and click ‘NEXT’.

MetaTrader is a powerful platform with impressive features but the interface appears dated in comparison with the Next Generation Platform. What distinguishes MetaTrader is its ability to perform strategy backtesting and automated trading. Introductory guides to trading the wide array of products offered are also available along with a section comprised of videos devoted to trading strategies.

cmcmarkets review

CMC Markets offers industry leading spreads in assets ranging from forex to CFDs on commodities and indices. Overnight financing costs are standard for the industry and we found no hidden expenses that might surprise traders. CMC Markets shines in this category, with extensive research and analysis from in-house analysts and third-party materials that include Morningstar quantitative equity research reports (live accounts only). Access to this feature alone might entice a serious trader to open a live account with CMC Markets. Many resources can be accessed directly through the website while news sources can be filtered by region and asset class. If there is one criticism, it would have to be regarding the lack of a dedicated search function or well-organized archive, which makes it difficult to find many topics.

For instance, their spreads average 1.30 pips for pairs like EUR/GBP and GBP/USD, which is significantly lower than competitors’ spreads that can reach up to 2.50 pips. This disparity represents potential savings of up to 48% for traders choosing CMC Markets. To gauge how CMC Markets’ pricing stacks up against the industry, we conducted a comparison of their average spreads with those of their competitors. The comparison, detailed in the table below, reveals that CMC Markets consistently offers lower no-commission spreads. Scrolling down, there are multiple headlines about “server error” and one that says “terrible.” One user discovered that the app re-routed them mid-trade to a different brokerage! They reported having to go back to CMC’s mobile website to make the trade through the correct brokerage.

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