2023 CMC Markets Review Pros, Cons & More

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For example, in Canada there is up to $1 million in protection available per eligible client, under the Canadian Investor Protection Fund (CIPF). In the U.K., if eligible, your funds are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS). FSCS is an independent body that offers protection to customers of financial services firms that have failed. The compensation amount may be up to £85,000 per eligible person, per firm. The CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders; it’s fast, reliable, and packed with impressive tools and features. It’s always important to examine the average spread – rather than the minimum spread – when comparing spreads and trading costs across different forex brokers.

  • As for research, Morningstar Quantitative Equity Research is available with the Pro platform, while the fundamental Morningstar data is free with the standard.
  • They also offer in-depth market analysis, trading tools, and resources.
  • Options include Credit/Debit Cards, Bank Transfers, PayPal, Cash, and cheques.
  • Finally, the customer service team is also prompt and provides quick resolution for all queries.

It’s regulated by top-tier authorities and is known to be a trustworthy Forex broker. CMC Markets provides a deep and extensive range of assets to choose from. In total, there are more than 10,000 tradable assets across many different markets. This range includes a huge number of CFDs with spread betting also available but only if you are a client registered in the UK. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. CMC Markets does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment.

Well-Regulated Broker With 10,000+ Tradable Assets

CMC Markets has a huge product portfolio of over 11,000 instruments consisting of CFDs and spread betting assets. The broker provides around 330+ forex pairs, 80+ indices, 14 cryptocurrencies, 100+ commodities, 50+ treasuries and 9,000+ stocks & ETFs. In terms of Forex, the spread on major currency pairs such as EUR/USD and GBP/USD is typically between 0.7 and 1.2 pips. On commodities such as Crude oil and Gold, the spread can range between $0.1 to $0.5 per barrel and $0.1 to $0.5 per ounce respectively. CMC Markets also offer trading in Cryptocurrency pairs with a spread that varies depending on the market conditions.

  • CMC Markets offers two tiers of online brokerage for investors buying Australian shares, depending on their annual brokerage spend or portfolio size.
  • I mostly use Trading View for analysis and place my trades on the phone.
  • A monthly inactivity fee of $15 is charged after a trading account has been left dormant without any transaction volume for 12 months.
  • Because of its intuitive and sophisticated nature, CMC Markets’ platforms cater to professionals and new traders alike.

Conversely, professionals and institutions will find broadly attractive feature sets that make the service a suitable fit with a few exceptions, such as the high spread costs for certain instruments (S&P­ 500). 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 cmc markets review 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. In this day and age, an online broker that does not place a high priority on addressing the needs of its customer in an efficient and satisfactory manner may be doomed to failure.

Commissions & Fees

This platform is available on desktop, and mobile but not as a webtrader platform with CMC. This is one of the most well-respected platforms in the industry and very well-known for high levels of customizability and its ease of use with an extensive number of charting tools and indicators available. Moreover, CMC Markets offers various channels for customer support, including phone, email, and live chat. Notably, their phone support is highly responsive, with immediate assistance available. According to the Investment Trends U.K. Leverage Trading Report, this broker received recognition in 2019 as the best phone and email customer service provider. However, this ambitious vision for Apple-based mobile apps appears to fall short of expectations, as user reviews indicate.

CMC Markets is a class above the rest

Alongside writing and editing, Marko works on projects related to online technology and digital marketing. Trading shares of companies outside Australia, the US, the UK, Canada, and Japan incur a brokerage fee of $59.95 or 0.59% (the greater of the two). To ensure the best experience, the broker is regulated by the Australian Securities and Investments Commission.

What are the advantages of trading with CMC Markets?

It has tied up with Morningstar to provide its users with the latest news and reports covering a wide range of financial instruments. In addition to this, the broker also grants its users access to numerous value-added tools including economic calendars, stop loss support, and pattern recognition systems. Research and news integration between the website and trading platforms could be improved, with a few resources forcing the client to exit the platform and go to a web page. The firm’s fees are competitive within the industry and it ranks high on several of our lists. The company is ranked as the winner for Investopedia’s Best Overall Forex Broker for 2020 as well as Best Forex Broker for Range of Offerings. CMC Markets offers mobile trading capabilities, allowing traders to access their investment services through internet-connected mobile devices for both account types.

CMC Markets specializes in CFD trading, which means that you buy and sell contracts that have their prices determined by their underlying markets and avoid trading directly in the assets themselves. As you can see below, the CMC platform is ranked the second-lowest out of the leading brokers. By comparison, Pepperstone, which was voted as the broker with the best forex trading platform, has 7 different platforms, including the world-renowned MetaTrader 5 and cTrader.

However, overnight trading fees, inactivity fees, and spreads are charged as standard by the broker. In jurisdictions where CMC Markets offers real shares, a commission is charged. Other fees that may apply to Retail CFD and Corporate account holders are additional market data fees.

In contrast to some of its competitors’ platforms, Next Generation lacks a built-in tool for analysing trading activity. Considering this platform’s many features, it might be a stretch, but this omission has led to a lower ranking in this category. The capability to delve deeper into one’s trading activity beyond basic metrics can prove invaluable to all traders. CMC Markets is an internationally regulated online broker, based in the United Kingdom.

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Forex broker that has successfully adapted to the ever-changing online brokerage landscape. The company is listed on the London Stock Exchange (LSE) under the ticker symbol, CMCX. With the intuitive, native mobile trading app, you can access your account at any time and from any location.

These include the widely recognised MetaTrader 4 platform, CMC’s proprietary Next Generation platform, and the Standard and Pro Stockbroking platforms. There are also mobile versions of the CFD platform for remote access and trading on the go. For Stockbroking accounts, multiple platform choices cater to clients’ specific feature preferences.

Moreover, news sources can be conveniently filtered by region and asset class, enhancing the user experience. The website includes a standard economic calendar for informing users about important events. Despite its impressive educational resources, the absence of a search function can make it challenging to locate less popular topics, giving the impression that this section could benefit from better organisation. Marko has been working on the road for over 5 years, and is currently based in Europe.

But considering the number of trading products offered, traders have plenty of options to diversify their portfolios. If you are looking to trade bonds or options, AvaTrade might be worth consideration instead. CMCMarkets also offer competitive overnight financing rates, also known as rollover or swap rates.

This type of protection guarantees your position is closed should prices fall below your loss tolerance level as the broker will absorb any differences in the event of slippage. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Multiple layouts are available as platform trading tools, allowing you to create and save different trading layouts within the platform. This gives you a much bigger dashboard and allows you to make better use of the available space. Using the quick links in the top navigation toolbar, you can quickly switch between layouts. CMC Markets is a renowned online forex and CFD broker, established in 1989.