deposit:
- $1
Trading platform:
- MetaTrader4
- Mobile Apps
- Web Trading platform
- BaFin
- CNMV
- FCA
- 0%
CMC Markets Review 2024
deposit:
- $1
Trading platform:
- MetaTrader4
- Mobile Apps
- Web Trading platform
- BaFin
- CNMV
- FCA
- 0%
- Traders and investors from different regions — 93%;
- Traders who prefer trading with tight spreads — 95%;
- Investors — 91%;
- Forex and CFD traders — 97%.
- Regulated by FCA (UK), ASIC (Australia), BaFin (Germany) and other highly regarded financial market supervision authorities;
- 50+ international awards;
- Proprietary platform featuring 86 indicators;
- In the market since 1989, with offices in Europe, Asia, and Australia.
Traders Union expert opinion on CMC Markets
CMC Markets is an international Forex and CFD broker. The company has been in the market for over 30 years, working continuously on expanding its offices and the choice of trading instruments. The broker focuses on active traders, but is also suitable for copy trading and algorithmic trading using the MetaTrader 4 platform. CMC Markets is regulated by multiple financial supervision authorities. Its operation is supervised by seven oversight bodies in Europe, Asia, America and Australia. Clients have access to 10,000+ financial instruments, and Australian access can also invest in the stock market. In addition to MT4, the company offers an advanced proprietary platform Next Generation designed for working with market, limit and pending orders, in-depth market analysis and leverage trading of 8 classes of CFDs. CMC Markets offers a truly extensive choice of currency pairs as well as quality education, free demo accounts and analytics.
- Fully regulated operation.
- Wide variety of trading instruments.
- Zero deposit/withdrawal fee.
- The broker does not offer a choice of accounts.
- Cent accounts are not available.
- Not the tightest spreads in the market.
Expert opinion on CMC Markets
“With education and demo accounts, it seems that CMC Markets is suitable for novice traders. However, I would not recommend this company for beginners, as this broker does not offer cent accounts. Professionals may find CMC Markets interesting, particularly trading on its proprietary platform. I believe this broker is reliable, but I would not call its spreads and commissions the best in the market.”
Key features of CMC Markets
About CMC Markets in brief
CMC Markets clients do not pay non-trading fees, provided their accounts are active. Commissions per trade can be viewed as average, but there are instruments, where the fees are rather high.
- Average spreads on currencies, no commission per lot;
- The broker does not charge non-trading fees.
- Unbeneficial conditions for trading certain CFD classes.
A trading account can be opened on the broker’s website. There are no requirements for the initial deposit amount.
- Online account registration.
- Any amount of the initial deposit.
- A separate website for each region
The company does not charge deposit/withdrawal fees and supports many payment methods. Traders can deposit different currencies, but they will be converted into the account currency.
- No fees charged by the broker.
- A good choice of payment methods.
- Any currency can be used.
- Additional fee for bank transfers.
The broker offers the MetaTrader 4 platform, but its web version is not available. CMC Markets clients use the Next Generation platform to trade in the browser. It is a proprietary platform of the company that supports 2FA, advanced interface settings, scanners, and backtesting tools.
- Deliberate interface.
- A multitude of useful tools.
- Sign-in using 2FA.
- Web version of MT4 is not available
In terms of functionality, Next Generation mobile apps are just as good as the web platform. They also have 2FA security, the option to set different order types, while their interface is less customizable.
- Available on Android, iOS, iPad devices;
- Quick account and transaction management;
- Simple navigation.
- Less customizable than the web platform
The Next Generation proprietary platform is available only as mobile apps or web versions. The company offers the MT4 platform for trading on PCs and laptops.
- MT4 functionality is easy to understand.
- Wide choice of indicators.
- Simple asset search and navigation.
- No economic calendar.
- 2FA and biometric authentication are not supported.
CMC Markets provides access to trading a huge number of financial instruments; there are almost 10,500 instruments, including 330+ currency pairs. In terms of the number of trading instruments, the broker is far ahead of its competitors, although it does offer limited access to trading at stock exchanges.
The company publishes analytics of its own experts and also from third-party sources. The information is updated daily. The proprietary platform allows for in-depth market analysis using built-in tools.
- Free news and forecasts.
- Wide analysis possibilities of the trading platform.
- Fundamental data from Thomson Reuters
- Live webinars featuring analysts are not available in all countries.
CMC Markets has offices in 13 countries and each can be contacted by phone or email. At the same time, a live chat is not available in all countries, and support is not provided on Saturdays and Sundays.
- Phone numbers in 13 countries;
- Multilingual support;
- Live chat button on the web platform.
- Support operates five days a week.
The company offers a big library with educational articles and video tutorials on the Next Generation platform. Also, a demo account for risk-free practicing is available.
- Free trading fundamentals training;
- Demo accounts for МТ4 and Next Generation;
- Video tutorials.A
- Only traders from certain countries have access to webinars
CMC Markets is a multi-regulated brokerage company founded in 1989. The broker has over 50 awards and is quoted at LSE (London), one of the largest exchanges in Europe.
- Seven regulatory authorities oversee the broker’s operation;
- Listing at the London Stock Exchange;
- Client deposits are held in segregated accounts.
- Only traders from the UK, Canada and the EU are protected with the compensation mechanism.
All details about the service, available instruments, and broker-provided trading conditions are described in the sections below.
Fees
CMC Markets clients do not pay non-trading fees, provided their accounts are active. Commissions per trade can be viewed as average, but there are instruments, where the fees are rather high.
- Average spreads on currencies, no commission per lot;
- The broker does not charge non-trading fees.
- Unbeneficial conditions for trading certain CFD classes
Trading instrument | Fee level | Fee size |
---|---|---|
S&P 500 (CFD) | Medium | Average spread is 0.5 pips, no additional fee charged |
Euro Stoxx 50 (CFD) | Medium | Average spread is 1.6 pips, no additional fee charged |
EURUSD | Medium | Average spread is 0.7 pips, no additional fee charged |
Inactivity fee | Medium | GBP 10 is charged on accounts with no activity for 12 months |
Fees for trading at CMC Markets
CMC Markets charges average-market spreads.
The company does not charge additional fees for trading currency pairs, and the mark-up of the broker is included in the spread. Trading conditions for other types of CFDs differ, but the commission is only charged on stocks and ETFs.
We also compared commissions and fees charged by CMC Markets and other Forex brokers: GoMarkets and Fusion Markets. These companies were included in the comparison, as they are popular among traders, offering quality service. Below are the comparison of fees for trading CFDs and currency pairs.
Fees for CFD trading
Compared to competitors, the fees charged by CMC Markets on indices and stocks are rather average, but on some of them even high.
CMC Markets | GoMarkets | Fusion Markets | |
---|---|---|---|
Average Spread for S&P 500 in pips | 0.5 | 0.5 | 0.31 |
Average Spread for Euro Stoxx 50 in pips | 1.6 | 2 | 1.31 |
Average Spread for CFDs on Apple in pips | 0.05 | 0.03 | 0.01 |
Average Spread for CFDs on Vodafone in pips | 0.04 | 0.02 | 0.01 |
For trading U.S. and Canada stocks, the company charges 0.10% fee on the position amount or $0.02 per each contract, but no less than $10.
Region/Country | Fees | Minimum fee charged |
---|---|---|
Europe | ||
UK | 0.10% | GBP 9 |
Germany, Portugal, Austria, Italy, Belgium, Spain, Netherlands, Finland, France, Ireland | 0.10% | EUR 9 |
Sweden | 0.10% | SEK 89 |
Norway | 0.10% | NOK 79 |
Denmark | 0.10% | DKK 90 |
Switzerland | 0.10% | CHF 9 |
Poland | 0.18% | PLN 50 |
North America | ||
USA | USD 0.02 per share | USD 10 |
Canada | CAD 0.02 per share | CAD 10 |
Asia and Pacific | ||
Singapore | 0.10% | SGD 10 |
Japan | 0.10% | JPY 1000 |
Australia | 0.10% | AUD 7 |
New Zealand | 0.10% | NZD 7 |
Hong Kong | 0.18% | HKD 50 |
Forex trading fees
CMC Markets offers average spreads on currencies, while the commission per lot is zero.
CMC Markets | GoMarkets | Fusion Markets | |
---|---|---|---|
Commission per lot | No | $4-$6 depending on the regulator | $4.5 |
Average EURUSD spread in pips | 0.7 | 0.6 | 0.03 |
Average GBPUSD spread in pips | 0.9 | 0.9 | 0.12 |
Average AUDUSD spread in pips | 0.6 | 0.6 | 0.04 |
Average USDJPY spread in pips | 0.7 | 0.6 | 0.05 |
Average USDCAD spread in pips | 1.3 | 0.7 | 0.08 |
A special calculator on the Traders Union website allows you to calculate fees for trades with various Forex brokers.
CalculatorNon-trading fees
The broker does not charge non-trading fees (deposit/withdrawal).
The only type of a fee that is charged not for trading is the inactivity fee. It is charged on accounts that have not been active for 12 months.
CMC Markets | GoMarkets | Fusion Markets | |
---|---|---|---|
Account maintenance fee | |||
Inactivity fee | |||
Deposit fee | |||
Withdrawal fee |
Analysis algorithm for fees
To determine the level of CMC Markets fees, Traders Union compared them with the fees of other brokers that TU has previously reviewed.
TU analyzed the following types of fees charged by brokers:
- Trading fees. This includes spreads, commissions per lot, swaps, and currency exchange fees when making transactions;
- Non-trading fees: These are all fees that brokers charge that are not related to trading. This includes inactivity fees, financial transactions (deposit/withdrawal of funds), and others.
Account registration review
A trading account can be opened on the broker’s website. There are no requirements for the initial deposit amount.
- Online account registration.
- Any amount of the initial deposit.
- A separate website for each region.
CMC Markets does not provide services for the U.S. residents, and there are also other countries where the broker does not operate.
It can be any amount.
You can even start with depositing one unit of account currency.
Account types and functions
The choice of accounts is different depending on the country. However, the accounts described below are available in all jurisdictions.
Spread Betting account | CFD account | |
---|---|---|
Supported countries | UK, Ireland | All other countries where the company operates |
Account currency | GBP, EUR | USD, EUR, AUD, GBP, SEK, PLN, CAD, NZD, SGD, NOK |
Trading fee | Variable spreads | Stock CFDs: variable spreads + commission per share or percentage of a trade |
Profit tax charged | ||
Joint account | ||
Corporate account |
For UK traders with high trading volume, the broker offers FX ACTIVE and ALPHA accounts that come with a discount on trading fees, and the Plus plan for investing in 1,600+ shares and ETFs at stock exchanges. In countries, where clients are divided into Retail and Professional, Pro accounts are also available with tighter spreads and high leverage, but with no negative balance protection.
Key benefits of accounts for traders with high trading volume:
- ALPHA — 5-40% discount on the spread + 3% on account balance.
- FX ACTIVE — spreads from 0.0 pips and 0.0025% commission per transaction.
- Pro — 5-20% discount on the spread, leverage up to 1:500.
A CFD account is available in all jurisdictions, so TU experts registered it and tested its conditions.
Account opening instructions
To open an account on CMC Markets, access the broker’s official website and choose your country of residence in the footer.
Follow the next steps:
- Click Open Live Account to start registration.
- Fill out your personal data, phone number and email.
- Provide information about your investment capital and strategy preferences, and come up with a password.
- Once you submit the registration form, a 6-digit confirmation code will be sent to your email.
- Use it along with the password and email to access your User Account for the first time.
- Now you can set the parameters of your trading account: currency and leverage.
Deposits and withdrawals
The company does not charge deposit/withdrawal fees and supports many payment methods. Traders can deposit different currencies, but they will be converted into the account currency.
- No fees charged by the broker.
- A good choice of payment methods.
- Any currency can be used.
- Additional fee for bank transfers.
Currencies for deposits
The company offers a wide choice of account currencies.
The available account currencies depend on the trader’s country of residence. EU residents can open accounts in EUR, USD or the national currency of their country, if it is supported by CMC Markets. UK and Ireland residents can open accounts only in EUR and GBP, while USD is not available to them.
It is possible to make a deposit in a currency different from the account currency, but a conversion fee will be charged in this case.
Below is a comparison of the available account currencies available at CMC Markets and other brokers.
CMC Markets | GoMarkets | Fusion Markets | |
---|---|---|---|
Number of available account currencies | 10 | 10 | 8 |
Why are we giving so much attention to this issue? Conversion fees depend on the account currency. They can be charged on withdrawals, if the account currency and withdrawal currency are different. There are also conversion fees if the account currency does not match the currency of the trading instrument.
To avoid payment conversion fees for bank transfers, TU recommends using the banks that offer multicurrency accounts. Such accounts can be opened at many online banks. The other convenience online banks offer is that you can do everything on your smartphone.
Compare brokersAvailable deposit methods and fee sizes
CMC Markets does not charge deposit fees.
Payment methods available to traders depend on their country of residence and can be viewed in the User Account.
CMC Markets | GoMarkets | Fusion Markets | |
---|---|---|---|
Bank transfer | |||
Visa/Mastercard | |||
EPS (Electronic Payment Systems) |
The transfer processing time depends on the funding method. Deposits from cards and e-wallets typically appear in the account within minutes. Bank transfers usually take 2-5 business days.
In addition to cards, bank transfers and EPS, the broker’s clients can also use online banking to make deposits.
Withdrawal fees and available methods
CMC Markets offers withdrawals to bank cards and accounts, and also supports popular electronic payment systems, such as PayPal.
If a trader does not request instant transfer and withdraws funds within his country of residence, the broker does not charge any fees. At the same time, the payment system processing the transaction may charge its own fees. If a client uses an international bank transfer, he pays the bank’s fee. It is calculated in the account currency and amounts to USD/15 EUR/15 GBP. The fee is the same for instant accrual to the bank account. This option can be selected in the process of submitting the withdrawal request.
Several conditions need to be considered when using cards and electronic payment systems. Traders cannot withdraw to an electronic wallet an amount higher than the deposit made using this method. Withdrawals to Mastercard cards are not available to UK and Ireland residents using the Spread Betting account.
CMC Markets | GoMarkets | Fusion Markets | |
---|---|---|---|
Bank transfer | |||
Visa/Mastercard | No | ||
EPS (Electronic Payment Systems) | |||
Withdrawal fee |
!The broker handles withdrawals for verified clients only.
The duration for funds to be received can range from several minutes to 5 business days, contingent on the trader’s chosen method and country of residence.
Here are the steps for withdrawing funds from CMC Markets accounts:
- Log in to your user account;
- Navigate to the My Accounts section and select Withdrawal;
- Choose a method available in your country;
- Provide transfer amount;
- Select the Instant option, if you’d like to receive your funds within several minutes;
- Confirm the initiation of the withdrawal.
Trading in the web version
The broker offers the MetaTrader 4 platform, but its web version is not available. CMC Markets clients use the Next Generation platform to trade in the browser. It is a proprietary platform of the company that supports 2FA, advanced interface settings, scanners, and backtesting tools.
- Deliberate interface.
- A multitude of useful tools.
- Sign-in using 2FA.
- Web version of MT4 is not available.
Choice of trading platforms at CMC Markets
Overall score | Availability | |
---|---|---|
Web platforms | 1 | |
Mobile apps | 6 | |
Desktop platforms | 1 |
The web platform of Next Generation is available in two versions:
- For desktop computers and laptops, including MacBook.
- For smartphones, tablets, and iPad.
Let’s take a closer look at the CMC Markets’ proprietary platform, as there is a huge number of reviews about WebTrader МТ4 online.
Next Generation is a multilingual platform.
CMC Markets language choices (using Next Generation as an example)
Functionality
Next Generation is suitable for both novice and experienced traders, as it is easily customizable; it supports watchlists and allows users to work with different types of orders. There is a detailed guide on how to use the platform on the CMC Markets website.
Furthermore, traders can create a demo account on Next Generation and test the platform without making a deposit. The platform has easy navigation, and even beginners will be able to search for needed assets.
Security settings
The Next Generation has reliable security against hacker attacks and theft of funds held in the trading accounts of users.
Тraders can enable the two-factor authentication (2FA) feature, which will require them to enter a special code every time they sign in. The 2FA feature operates via text messages or special software for generating OTP passwords.
Asset search features
It is quite easy to select assets on the platform.
The tools required for that are in the upper part of the screen in the most frequently used widgets menu.
There are two types of asset searches on Next Generation:
- Quick search by the name of the asset: click on the magnifying glass icon and specify the ticker.
- Search by CFD class: click on Products and select the required category.
Order types
All platforms supported by CMC Markets allow traders to work with the following order types:
- Market
- Limit
- Pending
- Guaranteed Stop Loss
- Trailing Stop Loss
Detailed information about each of them can be found in the guide on how to use the trading platform on the website.
Advanced order types include:
- GTT — Good 'til time
- GTC — Good 'til canceled
Price change signals
Many web platforms, including MT4 and MT5, do not support the price alerts options, but Next Generation does.
Price change signals can be received in three ways: on the trading platform, by email or text message. Users can also subscribe to notifications on the events in the economic calendar, news releases and changes in the market trends.
Trading statistics
CMC Markets clients are given access to detailed information about their trading expenses and earnings.
Trading history is available on the platform, but also Excel reports can be sent to a trader’s email upon request.
Mobile Trading Apps
In terms of functionality, Next Generation mobile apps are just as good as the web platform. They also have 2FA security, the option to set different order types, while their interface is less customizable.
- Available on Android, iOS, iPad devices;
- Quick account and transaction management;
- Simple navigation.
- Less customizable than the web platform
If a trader doesn’t want to learn the functionality of the broker’s proprietary mobile platforms, they can use the MT4 app. The trading conditions are identical.
Noteworthy, CMC Markets has a special app adapted to iOS tablets.
The mobile platforms are available in several languages.
Language selection at CMC Markets (using Next Generation Mobile as an example)
Functionality
In terms of functionality, CMC Markets apps are just as good as popular mobile platforms, with all the necessary features required to manage positions and trading accounts.
Security settings
CMC Markets developers introduced several security tools to protect client data from unauthorized access and use.
Users can set up OTP or fingerprint authorization options.
Asset search features
It is very easy to find an asset.
As you type its name, suggestions will appear on the screen. You can also click on Popular Products and select a trading instrument there.
Types of orders
The order types available on mobile apps are the same as on the web platform, specifically:
- Market
- Limit
- Pending
- Guaranteed Stop Loss
- Trailing Stop Loss
Advanced order types include:
- GTT — Good 'til time
- GTC — Good 'til canceled
Alerts for price changes
If you are using a proprietary app of CMC Markets, you can receive price alerts.
In the Notifications menu, select the type of the alert and method of notification.
Trading in desktop platforms
The Next Generation proprietary platform is available only as mobile apps or web versions. The company offers the MT4 platform for trading on PCs and laptops.
- MT4 functionality is easy to understand.
- Wide choice of indicators.
- Simple asset search and navigation.
- No economic calendar.
- 2FA and biometric authentication are not supported.
To download the MT4 desktop, go to Trading platforms on the broker’s website, select MetaTrader 4 and download the installation file with the .exe extension.
Once the installation is complete, select the interface language.
Language selection at CMC Markets (MetaTrader 4 Desktop)
Functionality
MT4 Desktop allows traders to trade independently and also use automated trading. Traders can change the placement of deposits, scale charts and add custom indicators, if necessary.
MetaTrader 4 is better suited for novice traders thanks to a minimum of functions and simple interface. However, professional traders are advised to choose a platform with wider functionality, such as MT5 or cTrader.
Security settings
Two-factor authentication is not available on MT4. The platform is considered outdated due to the lack of proper security level the OTP or biometric authentication, including fingerprint or Face ID, could provide.
Asset search features
To find a specific asset, click View and select Symbols. The list of assets by groups available on CMC Markets will open. Ticker search is not supported.
Types of orders
The following order types are available to CMC Markets clients:
- Market
- Limit
- Pending
- Trailing Stop
Advanced order types include:
- GTT — Good 'til time
- GTC — Good 'til canceled
Alerts for price changes
The МТ4 desktop is the only version of the MetaTrader 4 platform that features price alerts.
To receive notifications to email, users need to specify it in the platform settings.
To receive signals as push notifications to a smartphone, users need to take several steps. First, install the MT4 mobile app, then enter your MetaQuotes ID. It can be viewed in the settings of the desktop platform, in the same menu as the email.
Trading statistics
All information on closed transactions can be viewed in the History section at the bottom of the trading platform.
Trading Instruments
CMC Markets provides access to trading a huge number of financial instruments; there are almost 10,500 instruments, including 330+ currency pairs. In terms of the number of trading instruments, the broker is far ahead of its competitors, although it does offer limited access to trading at stock exchanges.
CMC Markets opens wide opportunities for trading Forex, but also commodities and stock indices. CMC Markets boasts one of the best choices of stock CFDs among international brokers.
CMC Markets | GoMarkets | Fusion Markets | |
---|---|---|---|
Fiаt currency pairs | 330+ | 49 | 80+ |
Indices (CFD) | 80+ | 14 | 15 |
Stocks (CFD) | 10,000+ | 407 | 111 |
Commodities (metals, energies, etc.) | 100+ | 10 | 26 |
Bonds (CFDs) | 55 | 5 | 0 |
Cryptocurrencies | 18 | 13 | 13 |
Forex trading is highly risky. Risks increase when using leverage. Before commencing trading, retail traders must comprehend its principles and acknowledge the potential loss of funds, as the majority of them (up to 89% of the total) experience losses.
CMC Markets offers the option of trading with leverage up to 1:30, which is the regulator’s requirement. At the same time, for high-risk instruments, the leverage is even lower. For example, for cryptocurrencies, it is up to 1:2. Negative balance protection can reduce the losses, but not rule them out completely. Professional clients can trade with leverage up to 1:500, but without the negative balance protection.
Market analysis tools
The company publishes analytics of its own experts and also from third-party sources. The information is updated daily. The proprietary platform allows for in-depth market analysis using built-in tools.
- Free news and forecasts.
- Wide analysis possibilities of the trading platform.
- Fundamental data from Thomson Reuters
- Live webinars featuring analysts are not available in all countries.
Trading platforms, including MT4 and the broker’s proprietary platform are used for market analysis using indicators and Japanese candles. Other types of analytics are available on the company’s website and in the special section of the Next Generation web version.
Economic calendar
Economic calendar is a must-have for fundamental analysis.
It is not available on MetaTrader4 or the CMC Markets website, but it is available to clients using the Next Generation web platform.
In the News&Analysis section in the top menu, there is a Market Calendar based on data from Thomson Reuters. It features important macroeconomic data and events that could impact prices of financial instruments.
Analytics and market reviews
Weekly Forex market reviews are available to all CMC Markets clients, and traders from Australia can also monitor information on the stock market in the special Earnings Season section of the website.
Furthermore, the company provides access to OPTO, a website featuring analytics, podcasts, news, technical analysis and fundamental analysis of global financial markets.
Experts’ views
CMC Markets experts provide daily analytical forecasts on various assets. They are published on the official website of the company. CMC Markets analysts have real experience of trading in the financial markets, working at hedge funds and top research centers.
Price charts and indicators
The broker’s proprietary platform offers excellent analytical features even despite the fact that Next Generation is a web and not a desktop platform.
The platform offers 80+ indicators for technical analysis. Unlike MetaTrader platforms, the indicators are at the bottom on Next Generation. The order of the indicators also differs from MT4 and MT5. The first on the list are ATR, MACD, RSI, and the following can be filtered by a trader by class or in an alphabetical order.
In addition, there is a magnifying glass for manual search of required indicators. There is a favorites tab, 18 time frames, historical data from 1 day to 5 years.
Additional analytical tools
There is a newsfeed on the official CMC Markets website. For each office, there is a separate newsfeed, which means that the clients get news focused on their region. Also, additional analytical tools are available in different countries. For example, UK and Ireland clients can participate in webinars on different markets and ask analysts questions. Residents of Australia get access to podcasts, livestreams and events, and also advanced information for investors.
Technical support
CMC Markets has offices in 13 countries and each can be contacted by phone or email. At the same time, a live chat is not available in all countries, and support is not provided on Saturdays and Sundays.
- Phone numbers in 13 countries;
- Multilingual support;
- Live chat button on the web platform.
- Support operates five days a week.
Ways to contact the company:
- Phone;
- Online chat;
- Email;
- A visit to a physical office.
CMC Market has a client-oriented approach to servicing traders. Support is available in 9 languages.
Support languages at CMC Markets
A phone call is the fastest way to contact CMC Markets. The calls are charged based on the rates of your mobile operator.
The 24h live chat in reality operates with breaks. If a trader leaves a question during a break, the response is sent to the email, which can take some time, from several hours to two days.
The operators respond quickly and provide good answers, but their services are slightly obtrusive. To TU’s inquiry about trading conditions, the operator recommended opening a demo account or leaving a phone number for a client manager to call.
Another disadvantage of CMC Markets support is that it does not operate on weekends. This can be a critical problem for clients trading cryptocurrencies, as the crypto trading continues on weekends, not just business days.
Educational tools
The company offers a big library with educational articles and video tutorials on the Next Generation platform. Also, a demo account for risk-free practicing is available.
- Free trading fundamentals training;
- Demo accounts for МТ4 and Next Generation;
- Video tutorials.A
- Only traders from certain countries have access to webinars
The company provides the following forms of education:
- Articles on Forex basics;
- Demo accounts;
- Show video tutorials on the proprietary platform;
- Online training with a mentor;
- In-depth learning about cryptocurrencies.
The basic knowledge offered by CMC Markets includes trading strategies, Forex basics, and fundamental and technical analyses. The formats of education include texts, tutorials, videos, chart screenshots, which makes it easier for beginner traders to understand.
Once you’ve completed the theory part, you can move to a demo account to gain a better understanding of how Forex trading works. CMC Markets offers demo accounts for all versions of trading platforms. You can open an account on the MT4 desktop, and then connect to it from your phone or vice versa. Demo trading is also available on the proprietary platform.
Trader protection and fund safety
CMC Markets is a multi-regulated brokerage company founded in 1989. The broker has over 50 awards and is quoted at LSE (London), one of the largest exchanges in Europe.
- Seven regulatory authorities oversee the broker’s operation;
- Listing at the London Stock Exchange;
- Client deposits are held in segregated accounts.
- Only traders from the UK, Canada and the EU are protected with the compensation mechanism.
Does CMC Markets have licenses?
The company holds licenses of 7 financial oversight authorities, including top-level in terms of security and reputation the FCA (UK) and ASIC (Australia).
What is the level of reliability of CMC Markets?
Before starting to work with any brokerage company, evaluate it using the following criteria:
- Protection methods it offers;
- The period of operation in the market.
Protection methods
CMC Markets is a holding of 7 companies. Not all of them offer compensation mechanisms, but all of them operate under the oversight of the regulatory authority of the jurisdiction where they are registered.
Jurisdiction | Compensation amount per client | Licensing authority | Legal entity |
---|---|---|---|
Canada | CAD 1,000,000 | CIRO — Canadian Investment Regulatory Organization | CMC Markets Canada Inc |
Australia | AUD 0 | ASIC — Australian Securities and Investments Commission | CMC Markets Asia Pacific Pty Ltd |
EU | EUR 20,000 | BaFin — Bundesanstalt für Finanzdienstleistungsaufsicht | CMC Markets Germany GmbH |
UK | GBP 85,000 | FCA — Financial Conduct Authority | CMC Markets UK plc и CMC Spreadbet plc |
New Zealand | USD 0 | FMA — Financial Markets Authority | CMC Markets NZ Limited Company |
Middle East | AED 0 | DFSA — Dubai Financial Services Authority | CMC Markets Middle East Limited |
Singapore | SGD 0 | MAS — Monetary Authority of Singapore | CMC Markets Singapore Pte Ltd |
The offices operating under the licenses of FCA, ASIC, and BaFin provide traders with negative balance protection, but only to retail traders without the status Professional.
How long has it been in operation?
CMC Markets has been in the market for over 30 years, since 1989, regularly opening new offices in different regions. This indicates that it does not have financial problems and it is still honest with its clients.
Being listed on the London Stock Exchange obligates CMC Markets to conduct transparent activity and report quarterly about equity, capital reserves and net income.
The company holds clients’ funds in segregated accounts at world’s largest banks. If CMC Markets is unable to fulfill its financial obligations, clients from the EU, Canada and the UK will receive compensation from the reserves of regulatory authorities.
The long experience in the Forex market, regulation by respected financial authorities and participation in compensation funds testify to CMC Markets’ reliability.
Top Forex brokers ratingSummary
CMC Markets is a broker with a truly rich choice of assets and medium-level trading fees.
The company offers a proprietary platform as well as the popular MetaTrader 4. The Next Generation proprietary platform offers excellent analytical possibilities and is convenient to use.
CMC Markets provides analytics, an economic calendar using trustworthy sources, educational articles, and video tutorials. The company offers free demo accounts for different platforms to allow traders to learn how to trade and test conditions of CMC Markets.
The broker is quite reliable and has been in the market for several decades. It does not have a minimum deposit requirement, which means that traders can start with any amount, but cent accounts are not available.
FAQs
CMC Markets is for you if you prefer to conduct in-depth technical analysis and seek a wide choice of trading instruments.
We have compiled a list of the most FAQs about CMC Markets and provided brief answers to them.