Unique Selling Points
No Minimum Deposit: Unlike most brokers in the financial markets, we deduced via this CMC Markets review that the broker has no minimum deposit requirement. This means that traders can start using the available platforms without making any compulsory deposit of a specific amount. CMC tops the chart of pocket-friendly brokers.
Proprietary Trading Platform: CMC Markets pro platform, Next Generation, is designed with the latest trading technology and a user-friendly interface to enhance its customers' trading experience. The platform features an economic calendar, customizable indicators, chart patterns, and various order types.
Introduction
CMC Markets is one of the oldest brokers in the financial market. It has operated since 1989 and has maintained a track record of quality service. The broker's growth over the years reflects its wealth of experience and expertise in the trading industry. This has further earned its recognition at various times and in various capacities.
With registered clients worldwide, this CMC Market review gathered that the broker has earned the trust and confidence of traders around the globe and, as such, has established a strong presence in the global financial market. Its reliable execution, strong customer support, and innovative trading solutions have all contributed to its solid reputation in the industry.
Supported Countries
As a company with over 30 years of operations, CMC Markets has successfully penetrated different regions worldwide. As of June 2023, this CMCmarkets review gathered that the broker is available in over 70 countries. These countries include Australia, Austria, Bahamas, Belgium, Bulgaria, Canada, Cayman Islands, Cyprus, Denmark, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Italy, Kuwait, Luxembourg, Monaco, Netherlands, New Zealand, Norway, Peru, Poland, Portugal, Qatar, Republic of Korea, Saudi Arabia, Seychelles, Singapore, Spain, Sweden, Taiwan, Thailand, United Arab Emirates, United Kingdom, and Vietnam.
CMC Markets is unavailable in some countries due to existing local laws and regulatory policies. Some of these countries where clients are restricted from trading on CMC Markets include Belgium, Iran, Iraq, Syria, the United States, and Zimbabwe. However, citizens of these listed countries can trade on CMC platforms if they are residents in countries where the broker is licensed.
Customer Service Rating
When it comes to its customer service experience, CMC Markets has received mixed reviews from its clients. On one hand, traders have praised the broker for its swift and hassle-free account registration process. Many clients also commended the broker for its user-friendly platform and website interface, making navigating and executing trades easy. The most positive CMC Markets broker review hinged on the broker's offering of advanced trading tools and resources to help traders improve their skills.
On the other hand, some clients have expressed dissatisfaction with their trading experience with CMC Markets. A major recurring complaint is hitches related to the withdrawal process. Some traders have reported prolonged delays and unnecessary difficulties in taking out their funds. Some other traders have also reported problems relating to platform glitches, disrupting their trading activities and sometimes leading to lost trading opportunities.
Despite the positive and negative CMC Markets reviews, the broker has earned a rating of 4.2/5 on Trustpilot. This high rating suggests that the broker is offering its clients quality service. While the negative CMC Markets reviews may persist, the broker has reiterated its commitment to improving its services and addressing clients' complaints.
Trading Platforms
CMC Markets provides two main trading platforms - the MetaTrader 4 (MT4) and its proprietary trading platform, Next Generation. On whichever platform, the broker ensures traders can access user-friendly tools to execute their trading strategies effectively. Although both platforms share some similar features, other features are peculiar to each platform. Are you thinking of trading on CMC Markets, then here's what you need to know about each platform:
MetaTrader 4 (MT4): This is a popular and widely used platform in the financial industry, making it a go-to choice for many traders. At CMC Markets, traders can use this platform to trade commodities and indices. They'll also have access to comprehensive tools and features for efficient trading. MT4 offers advanced charting tools, a wide range of technical indicators, and access to expert advisors (EAs). The platform also provides customizing layouts and implementable trading strategies and orders, including Trailing Stops.
Next Generation: This is CMC Markets' proprietary trading platform. The platform is designed with the latest trading technology and a user-friendly interface to enhance user experience. This CMC Markets pro platform offers advanced features, including an economic calendar, customizable indicators, Reuters, a news feed, chart patterns, and various order types for precise trade execution. A downside, however, is that the platform doesn't feature automated trading.
*It is essential to mention that both platforms are available on multiple devices, including mobile phones, desktops, and the web. Hence, providing a flexibility that any CMC trader needs to access the markets anytime and anywhere.
Type of Trading Accounts
CMC Markets offers a range of trading accounts to accommodate its clients' different trading preferences and needs. These accounts are designed with similar yet distinctive features. Let's take a look at them!
CFD Trading Account: This allows traders to trade Contracts for Difference (CFDs) on various instruments. Also, traders with this account have access to over 12,000 tradable instruments at leverage ranging from 1:30 to 1:500, depending on the type of client. Different base currencies, including GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, and SGD, are available on the account. Additionally, there is no minimum deposit requirement, and traders get a competitive spread that starts from 0.3 pips.
Stockbroking Account: CMC Markets provides stockbroking accounts for traders who prefer to invest in shares directly. With this account, traders can buy and sell shares on major stock exchanges. However, this account is only available to Australian clients. No minimum deposit is required, and spreads start from 0.3 pips. Also, leverage ranges between 1:30 for retail clients and 1:500 for professional clients.
Spread Betting Account: CMC Markets' spread betting accounts are available for traders in the UK and Ireland. This account type allows individuals to speculate on the price movements of various financial instruments and potentially profit from both rising and falling markets. Traders using this account are not subjected to commissions; like other accounts, there is no minimum deposit requirement. The leverage on this account runs from 1:30 and goes high up to 1:500.
Demo account: CMC Markets offers an unlimited demo account to all its clients. This account is designed to help any CMC trader practice trading strategies without risking their trading capital. While it can help newbies understand the trading environment and the rudiments of making a profit, it is also ideal for professional traders who want to experiment with new trading strategies.
Trading Denominations
Since CMC Markets deals with traders from different regions, it has established a trading system allowing multiple base currencies. This is to help traders avoid unnecessary conversion fees. The available base currencies on CMC Markets include GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK, and SGD.
Company Structure
CMC Markets has a well-established company structure with its headquarters in the United Kingdom. CMC Markets has physical offices in various countries, including Australia, Austria, Germany, Poland, China, Spain, New Zealand, Norway, Singapore, UAE, and Canada, to reach its international clients and further expand its offerings.
CMC's management team consists of experienced professionals with a wealth of experience and impeccable records in the industry. They oversee the company's strategic direction and day-to-day operations, ensuring a robust and efficient trading environment for its clients. CMC Markets' global presence and competent management team contribute to its strong reputation in the financial market.
Licenses and Regulatory Compliance
The activities of CMC Markets in the various regions where it operates are regulated by the existing financial regulators in that region. These regulators include:
Financial Conduct Authority (FCA): The FCA regulates and authorizes the activities of CMC Markets UK Plc. The company operates with registration number 173730.
Financial Markets Authority (FMA): CMC Markets NZ Ltd operates in New Zealand under the authority and regulation of FMA under license number FSP41187.
Monetary Authority of Singapore (MAS): The activities of CMC Markets Singapore Pte. Ltd. Singapore is regulated by MAS. The company operates in the region with license number 200605050E.
Australian Securities and Investments Commission (ASIC): ASIC oversees the activities of CMC Markets Asia Pacific Pty Ltd in Australia. The company operates under license number 238054. This license number is synonymous with the reported number in any CMC markets Australia review.
Federal Financial Supervisory Authority (BaFin): CMC Markets Germany GmbH operates with registration number 154814 in Germany under the authority of BaFin.
Investment Industry Regulatory Organization of Canada (IIROC). IIROC regulates CMC Markets Canada Inc, and it operates in Canada with the license number 12570.
Customer Support
Customer support at CMC Markets can be contacted in many ways, including Live Chat, Telephone, Email, or by visiting any physical office. Although its customer support is only available 24/5, the broker provides a comprehensive FAQ section where traders can find answers to some of their questions.
The customer support comprises responsive and helpful representatives, who many customers rated as helpful and resourceful. Traders can reach CMC's customer support service in multiple languages, including French, Chinese, English, German, Polish, Swedish, and Italian.
Customer Protection
The safety of traders is a top priority at CMC Markets. Hence, the broker has put some strict measures in place to ensure that its clients' funds and personal information are protected from unauthorized access. This CMC Markets review gathered information on some of these measures. These measures include:
Negative Balance Protection: This ensures that clients' trading accounts cannot go into negative balances, preventing them from owing more money than they have deposited. For traders who have the habit of using an overdraft, this feature is an ideal reason to choose CMC Markets.
Segregated Accounts: Client funds are held in segregated accounts, separate from the company's funds. This ensures that client funds are protected in the event of insolvency, reducing the risk of total loss.
Secure Technology: CMC Markets employs advanced security measures, including encryption protocols and firewalls, to safeguard its clients' information and ensure secure online transactions.
Compensation Scheme: In jurisdictions where applicable, CMC Markets participates in investor compensation schemes. These schemes provide additional protection to clients in the event of the company's insolvency within a certain limit.
Financial Regulation: CMC Markets is regulated by reputable financial authorities, such as the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) in Australia. This ensures compliance with strict regulatory standards, including capital requirements and client protection rules. The broker is also subject to frequent performance audits to ensure it fully complies with industry standards.
Trading Information
CMC Markets offers 12,000+ instruments, giving traders a wide range of options depending on their preferences and trading goals. Any trader can profit from this platform because of its decent trading terms and conditions. More details are discussed in the succeeding sections.
Tradable Instruments
The different tradable instruments available on CMC Markets are:
Forex: CMC Markets offers over 330 forex pairs, including major, minor, and exotic pairs, with a tight spread starting from 0.7pips.
Indices: Traders have access to over 30 different indices on CMC Markets. These include US 100, US 30, Germany 30, and SPX 500.
Cryptocurrencies: CMC online broker offers over 21 cryptocurrency trading options, including the popular Bitcoin, Ethereum, Bitcoin Cash, and other alternative cryptocurrencies.
Shares and ETFs: Traders using the broker CMC platform can access over 11,000 shares and ETFs, such as Apple, Microsoft, and eBay. These offerings make the CMC share trading review a great read.
Commodities: There are over 100 commodities available to traders on CMC Markets’ platform. These Commodities include Gold, Oil, and Gas.
Treasuries: CMC Markets allows its clients to trade on over 50 government bonds across different countries, including Japan and the EU.
Leverage
CMC Markets offers leverage up to 1:500. However, this CMC broker review discovered that the leverage generally depends on certain factors such as the type of client (retail or professional), type of asset, and the geographical location of the trader. This is why there is almost no fixed leverage on CMC Markets; each trader will have to determine the leverage individually.
Deposits and Withdrawals
Despite its solid reputation in the industry, CMC Markets provides limited payment options compared to other top players in the industry. The absence of crypto-enabled deposit and withdrawal options further dents the broker's strong reputation. However, the available options are quite effective with reasonable processing time frames.
Deposits
CMC Markets allows traders to fund their accounts using either credit/debit cards or bank transfers. More details are highlighted in the table below.
Banking Options | Minimum Deposit | Processing Time |
Credit/Debit Cards | None | Within 48 hours |
Bank Transfer | Nond | 3 - 4 days |
Withdrawals
The same payment methods for funding a CMC Markets account are also available for withdrawal. However, conversion fees may apply for withdrawals. More details are highlighted in the table below.
Banking Options | Minimum Withdrawal | Processing Time |
Credit/Debit Cards | None | Within 48 hours |
Bank Transfer | Nond | 3 - 4 days |
Trading Education and Training
CMC Markets is very intentional about its clients, providing useful resources to help them improve their trading knowledge and skills and make the best trading decisions. The available resources include the following:
Videos and podcasts: CMC Markets offers various educational resources on its YouTube channel, including informative videos, platform tutorials, and engaging podcasts. Additionally, a selection of this valuable content can be accessed on both its website and trading platforms. Notable series such as the Artful Trader Series, the Opto Sessions series, and the trading strategies video playlist are among the featured resources for users to explore.
Webinars: CMC Markets offers an excellent range of webinars from their in-house analysts and the renowned third-party provider Trade with Precision. These informative sessions are conducted from their offices in Australia and the U.K., providing valuable insights and analysis to traders and investors alike.
Learning Center: CMC Markets provides a comprehensive educational program catering to CMC traders of all experience levels. Their extensive range of topics covers a wide spectrum, from introductory articles on forex trading basics for beginners to advanced strategy guides that delve into the intricacies of cryptocurrency trading. With this vast array of educational material, broker CMC ensures traders can access valuable knowledge to enhance their trading skills.
FAQs
What trading instruments are available on CMC Markets?
CMC Markets offers various trading instruments, including forex, indices, commodities, cryptocurrencies, shares & ETFs, and treasuries.
What customer support options are available?
CMC Markets has a dedicated support team to assist traders with queries or issues. The broker provides customer support through various phone, email, and live chat channels.
What trading platforms can I use with CMC Markets?
CMC Markets provides two main trading platforms: MetaTrader 4 (MT4) and its proprietary Next Generation platform. Traders can choose the platform that suits their preferences.
Is CMC Markets in the U.S.?
No, CMC Markets is currently not available in the U.S. due to the country's regulations and policies.
Is CMC markets good?
Yes. Either as a newbie or professional, CMC traders have access to premium trading tools in a conducive trading environment to help trade conveniently and maximize profits.
Conclusion
With over 30 years in the financial industry, CMC Markets has established itself as a trusted and reliable platform for traders. With its range of trading instruments, user-friendly platforms, and commitment to customer protection, CMC Markets offers any trader a comprehensive trading experience.
CMC Markets' educational resources and strong customer support further enhance the broker's accolades as a top industry player. Hence, its collection of over 40 awards in the last three decades.
Overall, this CMC Markets broker review concludes that beginners and experienced traders will have an enjoyable experience on the broker's platform. We are confident that CMC Markets provides the tools and services to help trades easily navigate the financial market.
