CMC Markets Review 2024: Pros, Cons & Key Features

CMC Markets is a well-known online trading platform that offers CFD instruments across forex, indices, commodities, shares, and treasuries. It offers an extensive array of educational material, great tools, and an easy-to-use platform perfect for new and experienced traders.

In this CMC Markets review, we will analyze its features, fees, platforms, and what makes this forex broker unique. Overall, CMC Markets offers a robust and customizable platform with powerful charting tools, responsive customer support, and a solid reputation among regulators, placing it as a reliable addition to all traders.

Key Takeaways

• CMC Markets is regulated by top-tier authorities to ensure client security.
• Provides extensive educational resources for traders at all experience levels.
• Responsive customer support available through multiple channels.
• Provides powerful mobile trading app for on-the-go access.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Our Take On CMC Markets Forex broker

CMC Markets is an established forex broker offering an advanced trading platform and extensive educational resources, making the broker a good option for beginner and experienced traders. With a wide range of tradable instruments, including forex, indices, and commodities, CMC Markets offers competitive spreads, fast execution, and a user-friendly platform that caters to different trading styles. Additionally, the broker’s strong regulatory background and commitment to client security inspire trust. Overall, CMC Markets is a reliable choice for traders seeking a blend of innovation and support in their trading journey.

Pros and Cons

CMC Markets Key Features and Services

CMC Markets stands out with its extensive features and services, offering traders innovative tools and resources for a streamlined trading experience. Below is a list of key features and services provided by CMC Markets –

Is it safe to trade with CMC Markets?

As per our CMC Markets review, we can say that CMC Markets is safe, one of the most recognized platforms, and a market leader in CFD trading. CMC Markets launched the first online Forex pairs next-generation trading platform in 1996. It also launched its Sydney office in 2002 and ASIC-licensed CMC Markets Asia Pacific Pty Ltd in 2004. Some top-tier regulatory authorities regulate this forex broker, which is listed on the London stock exchange.

This Australian forex broker has won an award for the highest overall customer satisfaction, best CMC Markets customer service, best pro platform features, best educational resources, Best value for money, client sentiment, and several more in the past year. Also, CMC Markets has consecutively won Australia’s best value broker award for 9 years. Hence, it is one of the best forex brokers in Australia; you can also find more platforms suited to your needs. It also has awards like the Best Mobile Trading Platform in 2022.

Under FCA’s client money rules, CMC Markets must segregate client money from CMC’s own funds. The funds held in segregated bank accounts do not belong to CMC. CMC Markets Asia Pacific Pty Ltd provides excellent customer services and offers trading services in CFDs and securities through its online share trading.

We know it is hard to compare trading fees for CFD brokers. Verdict CMC Markets offers excellent pricing that fits all types of traders. In-house analysts run regular CFD trading, conduct focused events, and conduct informative live webinars.

Risk warning –

CFD and spread bets are complex instruments and come with a high degree of risk of losing money rapidly due to leverage. 79% of the retail investor accounts lose money when trading CFD and carrying out spread betting with the credit providers. You should always consider whether you understand how CFDs and spread bets work and whether you can afford to take the risk of accounts losing money.

Consider the information provided on the website according to your objectives, financial situation, and needs. If you’re unsure of anything, seek professional advice. We are just factual information providers without making any suggestions or recommendations for a particular product. Do not enter any personal information as it would be made public and not provided to the bank or product provider.

Is CMC Markets a regulated broker?

This broker is regulated by various financial conduct authorities globally. Some of them are:-

• UK Financial Conduct Authority (FCA): CMC Spreadbet plc is registered with the FCA (registration number 173730).
• Canada’s Investment Industry Regulatory Organization (IIROC)—CMC Markets Canada Inc. is a member of the IIROC.
• Australia’s Australian securities and investment commission (ASIC)
• New Zealand’s Financial Markets Authority (FMA)
• Singapore’s Monetary Authority of Singapore (MAS)

Trading Platforms Available

As per the CMC Markets review, this platform provides two trading options for its traders. The first option is Metatrader 4, which CMC Markets fully supports. However, it only covers the CFD and Forex trading aspects, not spread betting. The second option is to use a proprietary trading platform CMC Markets offers.

Regardless of the trader’s platform, this online broker allows users to trade through their main desktop website. This means the trader does not need to download any software but can also use CMC Markets’ mobile trading app. CMC markets are a great choice for global Forex and CFD traders.

Open an online share trading account, trade shares with an investing account, and take advantage of Australia’s lower Brokerage. Now, you must wonder how to apply for a CMC market investment or trading account. To sign up for a CMC market investment account, click on “apply now,” which will redirect you to the application form.

CMC Markets charges an online share trading platform that helps traders carry out their trades and spread betting through mobile trading apps. The mobile app can be downloaded from the CMC Markets website or directly from the Google Play or Apple App Store.

The next-generation platform has flexible and easy-to-use features, allowing you to manage your trade effortlessly. CMC market is well-trusted across the globe, and it delivers the best trading experience with tradable instruments.

CMC Markets Fees

• As per our CMC Markets review, we can say that this broker’s earnings are generated from commissions, average spreads, or a combination of both, depending upon the asset publicly traded by the user.
• Spreads on FX pairs start with 0.7 pips, which is very competitive; commissions are charged.
• Equity trading starts from 0.10%; other trading costs exist, such as a small premium Trader for a guaranteed stop-loss order, which will be refunded if the order is not executed.
• We know it’s hard to compare trading fees for CFD brokers. There are also overnight holding costs, market dynamic live data feeds, and swap rates.
• This broker charges brokerage fees for bank accounts inactive of £10 per month. All the active investor tiers would benefit from free live or dynamic data.
• The further information displayed is based on an average of 30 monthly trades. A minimum trade value is $1000 across all international markets. $0 for the first buy order processed on any trading day.

CMC Markets Withdrawal Fees

• The withdrawal fees or inactivity fees of CMC Markets vary depending upon the withdrawal method chosen by the trader.
• Every broker has their preferred withdrawal rules on how they can withdraw their funds from their trading accounts.
• It also offers several withdrawal methods and processing fees; their processing times might vary as per the method chosen.
• CMC Markets investment accounts allow traders to withdraw their funds through a wire transfer to a Payoneer account or a normal bank account.

Account Types

As per CMC Markets review, this broker offers account type with a free access demo account and a live account without a minimum deposit. The trader has a choice of trading platform. MT4 trading platform only allows commodity, forex, and index trading. If the trader is interested in trading with other assets, they must choose CMC’s Next-generation platform. CMC Markets offers Pro accounts for professional clients.

CMC invest account provides three account types (including Share Trading accounts) for its Premium trader-

– CFD account
– Spread betting account
– Corporate account

• Even though the above-mentioned accounts have more similarities, they differ in other platforms like share trading. For example, all the above-mentioned accounts have the same features, but some of the instruments differ from the trader’s type of account.
• The account opening process is very easy and effortless and can be carried out on the CMC Markets website. It is a simple step-by-step process that helps traders set up live trading accounts quickly and start using the platform for live trading.
• For further details, let’s check out the step-by-step account opening process on the CMC Markets platform. You should consider this information service on your objectives and financial situation and according to your needs. Second and each subsequent buy order processed on any trading day, up to the value of $1000 per stock.

Account Opening Process

The account opening process with CMC Markets is easy and quick, and the online application can be downloaded as a mobile app from the website. After opening an account, the trader can start with live trading or proceed with the demo trading as per their choice, but the trader should submit some of the documents required to satisfy the regulators’ KYC requirements.

These documents might take time to submit, but they guarantee every trader’s safety once it is done. CMC Market offers a joint account option as well.

Step 1. Registration

To register, the trader should proceed to CMC Markets’ homepage, download the registration form, and fill in basic details such as full name, address, contact details, and date of birth. The trader should also provide some information like their tax status, and in some cases, this broker asks for a national insurance number from their client.

Step 2. Financial Information

The trader should provide some financial services about their financial status, which is mandatory as the broker asks. They also need to state their employment status and the industry experts they work for and give details about their annual income and experience online trading securities. They should also answer some of CMC markets’ multiple-choice questions to understand the trader’s knowledge in trading.

Moreover, the traders will be questioned about their knowledge of risk undertaking and applying leverage. You should also understand negative balance protection, which means that your account balance cannot go negative. Clients can have additional asset protection with the help of the Financial Services Compensation Scheme.

Step 3. Verification Process

Any UK Forex broker such as CMC Markets is required to identify the customers who use their services provider because they comply with anti-money laundering regulations. They should adhere to the licensing conditional orders asked by the FCA. For this, the trader should manually provide the supporting documents to this broker. They must include proof of address and a government-issued ID to the broker.

Step 4. Depositing Funds

If you are using a demo account, there is no need to deposit funds as the account is already provided with the account’s virtual funds. This broker allows its traders to deposit or withdraw funds through bank transfer or debit credit card. There is no minimum amount to deposit on the platform.

Step 5. Live Trading

After adding a minimum deposit, the trader can proceed with live trading. To start live trading, the trader needs to go to the CMC markets website. Then, they log in to the trading platform, which is very easy to use. The trader can easily find the asset they are looking for.

Further, traders can use the search function and asset class and specify the instrument they are looking for to access it quickly. It permits users to customize the layout completely, which is one of the best features offered by CMC Markets.

Deposit and Withdrawal options

• The broker’s options are bank wires, credit cards, and debit card transfers concerning deposits and withdrawals.
• Even though other best forex brokers offer several transfer options, this broker’s lack of them can be considered an impediment.
• Since these are the only trading options offered by the broker, it does not charge any fees for withdrawals and deposits; however, traders should note that there are third-party bank charges.
• Deposit and withdrawal charges are commission-free, but 1% is charged on the various credit cards; debit card charges are 0.6%.
• If you deposit a large sum of money, the fees could be more substantial. On average, there are 10 trades per month.

Accepted deposit and withdrawal methods are -:

• Debit card
• Credit card
• Bank transfer
• BPAY
• PayPal
• Electronic Wallets

Instruments offered for trading

As per our review, this broker offers more than 10,000 next-generation trading instruments across six asset classes, including Forex, cryptocurrencies, indices, shares, commodities, treasuries, ETFs, and several others. Further, experienced traders and beginner traders find this broker’s asset offering more comprehensive as CMC Markets charges continue to expand its asset base.

Exchange-traded options are also available. Trading fees occur when you trade. Besides, the trading assets are all listed on the CMC website, and the trader can easily navigate the online share trading to find the asset they choose to trade. If you are still looking for guidelines, you can compare our comparison tables to find the online share trading that suits you.

The generation has three basic order types to help stop or lose the trade. Although we cover a wide range of products, this is a great place for frequent traders.

Trading of CFD

As per CMC Markets review, the CMC market is one of the most popular and leading platforms that offers social trading of CFDs in the form of assets such as treasuries, stocks, commodities, cryptocurrencies, and several more. Further, every instrument can use leverage and should follow ESMA regulations for retail traders. The trader can short-sell their assets on the platforms.

Spread Betting

CMC Markets invests in several financial instruments that are available for trade and spread betting facilities. The benefit of using spread betting on the preferred choice of assets is that the trader can benefit from tax-exempt profits and make money. However, the trader should check with a qualified tax professional regarding this tax exemption, which might differ as per the country of residence.

Cryptocurrency CFD Trading

• CMC Markets offers cryptocurrency trading as the most popular client assets class.
• Cross-cryptocurrency trading is not available. This broker offers several pairs along with competitive spreads.
• Some of the USA crypto pairs that are offered are Bitcoin, Ethereum, Bitcoin Cash, Neo, Ripple, and more.
• The spreads are wider than those of traditional currency pairs because of the high risk involved in the volatile market. If you wish to use CFDs, you can use CMC’s next-generation CFD trading platform.

Risk warning –

Trade CFDs work and spread betting are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of the retail investor accounts lose money when trading CFDs and carrying out spread betting with this credit provider. You should always consider whether you understand how CFDs and spread bets work and whether you can afford to risk losing your money.

Customer Support

As per CMC Markets Review, this platform offers dedicated customer support available 24×5, and traders can use their FAQ section. It also offers customer support through phone, email, and live chat. The phone support is answered immediately. This broker has been voted as the best phone and email customer service in 2019, offered by Investment Trends UK Leverage Trading Report.

Technical support would benefit the active investor. Contact the CMC Markets customer team. Traders will receive an answer on the same day. Traders can contact CMC Markets via email or phone between 7:30 a.m. and 5:30 p.m. (Sydney Time).

Research and Educational Resources

As per our CMC Markets review, CMC Markets offers a wide choice of available educational resources in written text and videos. It also offers platform tutorials for its traders. CMC Markets education materials offer a variety of tools & features: –

• Tutorial videos
• Demo account
• General educational videos
• Trading educational articles
• Webinars
• Glossary

CMC Markets’ educational articles are very easy to read, and they are supported by short videos and graphs to help traders understand complex trading processes. Some of the articles are based on the trader’s trading experience, and some of the topics range from CFD fundamentals to trading strategies.

Our Conclusion

Based on the CMC Markets review, we can say that CMC Markets is a well-known broker regulated by top-level regulatory authorities. It is one of the best forex and CFD brokers offering services worldwide. Some advantages include low forex fees, several research tools, trading platforms, and dedicated customer service. Even though it has a few drawbacks, its service is seamless.

Opening an account is very easy, and the popular product range selection covers forex and several asset classes like bonds, mutual funds, stocks, and others. We recommend that traders try this broker because it offers excellent features with no minimum deposit with caution. Here, the customer can also choose dynamic data. Target market determinations can be found on the provider’s website.

FAQs

Are CMC Markets Good for traders?

CMC Markets is a reliable trader choice, offering a wide range of assets, advanced trading tools, and competitive pricing. Its robust platform and strong customer support make it a solid option for both beginners and experienced traders.

Is CMC market trustworthy?

CMC Markets is generally considered trustworthy, as it is a well-established, regulated broker with a long track record in the financial industry. It is authorized by top regulatory bodies, including ASIC, FCA, FMA, MAS & BaFin, which adds credibility and security for traders.

Is CMC Markets Platform good for beginners?

Yes, CMC Markets is a good platform for beginners due to its user-friendly interface, educational resources, and demo account feature. It offers easy access to trading tools and educational content that can help new traders build their skills before trading with real money.

How long does it take to withdrawal money from CMC Markets?

Withdrawals from CMC Markets typically take 1 to 3 business days, depending on the withdrawal method. Bank transfers may take longer, while e-wallets like PayPal or Skrill can be processed more quickly

Who owns this CMC Markets Platform?

CMC Markets is a publicly-traded company listed on the London Stock Exchange (LSE). It was founded by Peter Cruddas in 1989, and he currently holds a significant stake in the company. However, the platform is primarily owned by its shareholders.

General Disclaimer :-

CFD products and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of the retail investor accounts lose money when trading CFDs and carrying out spread betting with the product provider. Based on the CMC Markets review, CMC Markets compares a wide set of banks, insurers, and product issuers.

You should always consider whether you understand how trading CFDs and spread bets works and whether you can afford to take the risk of losing your money. Please ensure that you read the relevant product disclosure statement (PDS) and Target market determination (TMD) before taking action. We are not owned by any of the banks, and we are not a product issuer or credit provider.

Trading forex and CFDs with leverage poses a significant risk of loss. We are just information providers and are not making any suggestion or recommendation of a particular product. We recommend seeking independent advice along with professional advice before committing to any plan. This is not personal advice.