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CMC Markets Review
- 300+ Assets
- A+ Mobile App
- Fast Payouts
- Low Deposit
Editors Summary
CMC is a well-established and well reputed Forex and CFD broker with a long history. The top regulatory bodies regulate them in the world of Forex, and they are all about the customer. With tight spreads and many trade order types to give you greater control over your trading. There are so many features that support your experience from the customisable mobile dashboard to the variety of charts that give you the information that you need in a format that is easy to digest.
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Introduction
CMC Markets offer their services to 60,000 clients across the globe from their 15 offices. Established in 1989, they have built a solid reputation based on trust and the experience of their many traders. Regulated by some of the world's most recognised regulatory bodies including ASIC, (Australia), IIROC, (Canada) and the FCA (UK), they are listed on the LSE under CMCX.
The platform, built on proprietary software offers you the chance to trade in CFDs. With opportunities to trade on both their web-based platform and from any number of mobile devices, the company offer a feast of analytical and educational tools to help enhance your experience.
There are many reasons why you might be considering CMC Markets as your choice of broker, but how do you know how they stand up against others in the market? Thanks to our comprehensive broker review, we can offer you all that you need to make an informed decision. Our experience knowledge makes us exceptionally well placed to provide our recommendations.
Account Types
The choice offered by CMC Markets is simple, but this is by no means a negative. There is no minimum deposit required, and you can't benefit from additional educational tools or other benefits by simply adding more funds. Everyone gets the same when they open an account. You can choose from either the live account to conduct your CFD trading or practise include this on the demo platform.
Live Account
There is one basic live account type which does not require a minimum deposit to open. Follow the links on the site and enter the information as needed. You will be asked to prove your identity with two forms of identification – the first either a driving license, ID card or passport and the second some acceptable form of proof of address.
Once you have opened an account you will need to verify an email and then, as soon as you deposit funds, you are ready to start placing trades.
Demo Account
For those who prefer to try the platform before they start risking their funds, the demo is perfect. You can trade as you would on the live platform without risking any of your private funds. The demo rewards you with a certain amount of virtual funds which you can use to practise strategies and techniques.
When you are ready to transfer to a live account, you use the same log-in details to set it up. Deposit funds then you are prepared to start trading for real.
Trade Features And Payouts
There are many things to consider when trading CFDs. Understanding the trade types and tools and the payouts that can be achieved is essential. There are many CFD features that you can use to assist you. While these tools can help you to increase profits, things like leverage can also mean that you increase your risk of losses.
CMC Markets offer several features that are competitive with other brokers. These include:
Leverage
When trading assets, the average leverage is around 30:1. What this means is that by using leverage, you can gain exposure to more significant trading positions. Using a leverage of 10:1 you can take a trade amount of $1,000 and enter that trade at $10,000.
While wins can be significant, the losses can be equally as substantial and you could wipe out your entire capital. Leverage should be used with great care and is more advisable on short term price movements.
Spreads
The spreads are where you make your money but also how the broker makes theirs. CMC Markets make no money from commissions. Instead, they make their money through the spreads. Spreads start at 0.7 for the major assets such as oil and gold but are more massive when trading on the outcome of the less popular items. With some assets, you can enjoy spreads of around 75 points.
Stop Loss
If you want to limit your losses and automatically exit a trade when the price starts to head in the wrong direction, you can set up what is known as a stop-loss order before you enter the trade. This means that as soon as it starts to go past a certain point, you exit and minimise the risk.
It doesn't stop there, though. Beyond stop loss, there are also other multiple order types to help you control your trades. Some of these are subject to a premium though so ensure that you do your research.
Platform Types
CFD trading is carried out on their propriety, award-winning, Next Generation platform. They are continually updating and improving the platform to stay ahead of the curve and keep the user experience current and consistent. For those who wish to download and trade you can also use WebTrader4 and the newer version, WebTrader5.
For those who wish to trade on the move, you can also download the app for Android and iOS.
Bonuses And Promotions
If you refer a friend to CMC Markets, once they have reached the conditions of the bonus, which must be met within 3 months, you will both receive a bonus of $250. There are also cashback rewards available when you reach specific trading requirements.
There doesn't appear to be a welcome bonus, but then there is no requirement for a deposit to become a member. You can set up an account with no funds, but the recommended minimum is $200 with $1 minimum trades.
Mobile Trading
CMC Markets offer a choice of apps for both iOS and Android. It should be noted that there are two different apps - one for spread betting and one for CFDs, so be sure to download the right one.
The home page dashboard is customisable so you can bespoke it to suit your trading requirements. You can also control how and what notifications you receive using the main menu.
CMC Markets offer several features that are competitive with other brokers.
Deposits And Withdrawals
You can fund your account using debit or credit card (excluding Amex or Diners) or by transferring funds from your bank. The payment method must be in your name and not a friend or relative. Funds deposited from another source will be returned. Deposits from outside of the UK may be subject to charges.
Withdrawing funds is simple – you click on the payment tab and then "withdrawal". Money can only be sent to an account in your name, and CMC aims to process withdrawals the same day if made before 2 pm.
Special Features
One of the features of this broker is their excellent range of educational tools. There are videos, webinars, seminars and a "Trading Smart" selection of articles. CMC Markets also boast a wide variety of charts. With multiple versions to choose from and 115 indicators, you can use their charting and analysis to enhance your CFD experience.
They also offer excellent execution control with a range of trader order types so that you can set up your trading positions.
Customer Support
Customer support is available through various forms, and it is actively encouraged. If you have any questions, take advantage of it. You will find help via the live chat icon in the bottom right of the screen which clearly states how long you can expect to wait for a response.
In addition to this we found the FAQ section to be particularly helpful if you have a question it highly likely that you will find the answer within the many FAQ headers.
We want to help our readers in any way we can, but sometimes it's better to talk directly with your investing site to get the answers you need. For example if you have a specific query about your account you'll need to contact them in person due to security.
Alternatively, if you find that contacting your investing partner isn't working, you can contact us and we will be more than happy to try on your behalf. We have excellent working relationships with many of the sites we list and recommend.
CMC Markets
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Email:
[email protected]
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Phone:
+44 020 7170 8200
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Address:
CMC Markets UK plc, 133 Houndsditch, London, EC3A 7BX, UK
Conclusion
CMC is a well-established and well-reputed CFD and Forex broker with a long history. They are regulated by the top regulatory bodies in the world of CFD, and they are all about the customer. This is evident from the many ways in which they offer support and the platform that they offer.
With tight spreads and many trade order types to give you greater control over your trading, you can be confident of one of the best CFD experiences you will find online. There are so many features that support your expertise from the customisable mobile dashboard to the variety of charts that give you the information that you need in a format that is easy to digest.
Access to the platform is designed for those that like to trade on the move, and the offering is continually evolving.
Our Review Rating System (More Info)
Frequently Asked Questions
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Are CMC Markets legit, will they scam me?
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Licensed and regulated by some of the most respected regulatory bodies in the industry and established for 30 years, you can be confident when trading with them.
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Do they have a decent mobile or tablet app?
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There is a choice of apps for mobile and tablet which are available for both Android and iOS that can be customised to suit your preferences.
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What bonus do they offer for new traders?
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There is no specific bonus for new traders however they do operate a refer a friend scheme where both parties can be rewarded with $250 subject to conditions.
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Can I start trading on a free demo account?
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Signing up for a demo account is free and will give you access to trade using virtual funds on a practice version of the live trading platform.
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What's the min. deposit and ideal trade amount?
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You can open an account without any funds, but you can only trade once you have credited your account. It is recommended that you deposit a minimum of $200.
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Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Charles has worked at brokers since he finished his studies at university. Starting as a Junior Trading assistant and progressing into a Business Development we’re delighted that he’s been part of the team since 2015.
