Top Options
75/ 100
Regulated: Regulated by the FCA
Min Deposit: £200
Min Trade Amount: £1
US Clients:
Free Demo Account:
Trading Platform: Web-Based, Mobile, iPad
Payment METHOD NAME Charge Time

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Full Review

About CMC Markets

CMC Markets is a forex, CFD and spread betting brokerage company located in London, UK. CMC Markets is regulated by the Financial Conduct Authority (FCA). CMC Markets has been in business for 22 years and has won numerous awards including the 2012 Best Spread Betting Service (Shares Magazine) and both Best Online Trading Platform and Best Online Charts from MoneyAM in 2013. In addition, CMC Markets was voted by MoneyAM as the forex brokerage with the “Best Online Education” for the third consecutive year. A 2013 award for the “Best Forex Spread Betting Company” at the UK Forex Awards rounds off what has been a good period for the company.

CMC Markets also has a US branch and an Australian branch that presents traders with the opportunity to trade under conditions prevalent in the US and Australian markets. These branches are regulated by the Commodities and Futures Trading Commission (CFTC) in the US, and the Australian Securities and Investment Commission (ASIC).

CMC Markets

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Trading Market

This broker supports in excess of 7,000 assets, in over 30 different markets, which can be utilized to activate spread bets, including currency pairs, commodities, stocks and indices. In particular, the range of commodities on offer is highly competitive and very impressive. For instance, CMC Markets quotes gold with exceptionally small spreads, which can be as low as 0.3 points.

When you register with CMC Markets, you can select between two types of accounts, which are the regular and fixed risk. If you opt for the latter, then you can restrict your losses by implementing guaranteed stop-losses although you will incur a small insurance fee whenever doing so.

As stated, one of CMC Markets primary objectives is to offer very economical spreads that tend to average about 0.7 points. In addition, these spreads remain fixed irrespective of the size of your bets. This broker also offers extensive leverage facilities, which can be as high as 400:1. This feature implies that your supporting margins can be as low as 0.25%. However, if you plan to trade commodities then you will find that you will incur slightly higher transactional fees.

Commissions and Spreads

The spreads payable on some currency pairs that are available for trading on CMC Markets is given below:

Product Minimum spread Typical Spread
AUD/CAD 2.3 2.998
AUD/NZD 3.9 3.446
AUD/SGD 6.3 6.797
AUD/USD 0.7 0.868
CHF/JPY 2.4 3.024
EUR/AUD 1.9 2.341
EUR/CHF 2.6 2.725
EUR/GBP 1.0 1.302
EUR/JPY 1.6 1.788
EUR/NOK 36.9 41.900
EUR/SGD 8.7 9.412
EUR/USD 0.7 0.923
GBP/JPY 2.5 2.898
GBP/USD 0.9 1.638
NZD/JPY 2.5 2.721
NZD/USD 2.0 2.014
USD/CAD 1.7 2.176
USD/CHF 1.5 1.668
USD/JPY 0.7 0.784
USD/SGD 6.0 6.063

 

Trading Platforms

CMC Markets has clearly established itself as a leader in the spreading betting industry since it was founded in 1989. The company has recently launched its latest trading platform, titled the ‘Next Generation Platform’ that has been based on over twenty years of accumulated experience and the latest advances in mobile and on-line technology. The key features of this impressive tool are:

–       100% automated execution

–       Dependable, reliable and highly competitive pricing

–       The platform can be readily customized to clients’ tastes

–       Consistent performance

–       Mobile options and applications

–       Committed customer support during trading hours.

Specifically, the Next Generation platform boosts an extensive range of ground-breaking facilities and tools in addition to the ones just listed. For example, you will discover that CMC Markets have specifically devised as many features of its new platform as possible so that they are totally customizable. Consequently, you can adapt this platform so that it is fully complies with you ideal stipulations. Not only can you organize your favored technical indicators and tools but you can also save as many as five individual layout templates for future use.

Another impressive feature of the Next Generation platform is that it incorporates a powerful ‘advanced charting package’ that supports facilities, such as the following:

–       pattern recognition capable of identifying over sixty well-known candlestick patterns, such as ‘head and shoulders’

–       in excess of 80 technical indicators

–       advanced chart types, such as Roint and Renko

An advanced range of trading tools is also integrated into the platform that can help you acquire a deep understanding of the prevalent market conditions, such as:

  • Reuters news
  • Pattern Recognition
  • Client sentiment Gauge.
  • Advanced order functionality
  • Boundary spread bets.
  • Price, fundamental and technical entry alerts

CMC Markets also offers mobile applications that recently received a prestigious award in a leading report devoted to the spread betting industry. This prize specifically emphasized the advanced status of the mobile solutions offered by CMC Markets.

Charting Packages

CMC Markets has one of the most advanced charting tools on the market today.

a)    The proprietary charting package gives traders the ability to choose between 10 different chart types, including the more advanced Renko, Heikin-Ashi, 3 line break, Kagi and Point and Figure. Traders can also use 24 drawing tools to help annotate your charts and highlight key trading levels and patterns. There is also the ability to add 26 technical overlays and 48 technical studies including the Zero Lag MACD, with up to 20 years’ worth of price history for backtesting.

b)    Mobile Charting Package: The mobile charting package comes with live streaming charts, ability to add over 20 technical indicators and 10 drawing tools, and crosshair function with zoom and dynamic line features. All chart analysis saved automatically when opened through a watch list.

c)     The charting package includes a Pattern Recognition Scanner which automatically collates data from over 120 tradable assets and alerts you to potential technical trading opportunities.

d)    There is a Chart Forum which connects traders on the CMC Markets platform and gives them the ability to discuss, share and instantly copy technical analysis from each other, within the CMC Markets web platform.

Bonuses and Benefits

CMC is presently not supporting any bonuses offers. Critics of this company claim that the lack of initiatives to entice new custom is perhaps the company’s biggest weakness. However, the CMC retorts by stating that it has adopted a strategy to attract new traders entailing the usage of free high standard educational facilities and the support of exceptionally low spreads. The firm has assessed that the provision of such services provides more benefits to its customers over the long term compared to the limited short-term impact of a bonus.

Educational Facilities

As this broker supports extensive educational resources, it claims to be a leading authority in this matter. However, the tools provided tend to primarily address the needs of beginners as they are basic in nature and content. This information focuses on introducing the concepts of the following key topics of trading, which are Trading Mistakes to Avoid, Economic Announcements, Financial Markets, Company fundamentals, Trading Plans, Trendlines and Resistances and Supports.

Consequently, many experts advise that although this data is useful for novices it definitely does not satisfy the needs of intermediate and advanced investors. As such, if you belong in these latter two categories then you may be disappointed by CMC’s offerings.

However, other professional traders adopt completely the opposite tone by insisting that the training material provided by CMC is second to none. For instance, they stress that the eight week ‘Trading IQ’ course is exceptionally diverse and very informative. If you join this course then you will even be entitled to a free trading day. As such, if you can use this offer well then you will be entitled to keep your profits. In contrast, CMC will cover all your losses if you fail.

Customer Service

CMC Markets Customer Support can be contacted through the following means:

a)    Live Chat.

b)    Telephone: +44 (0)20 7170 8200

c)     Fax: +44 (0)20 7170 8499

d)    Email: [email protected] 

Deposit and Withdrawals

Traders on CMC Markets can perform account deposits and withdrawals with:

a)    Credit/debit Cards: Only VISA, MasterCard and UK-issued credit/debit cards are accepted.

b)    Bank wire transfers, which could be standard or express transfers. Express transfers are charged 15 GBP by CMC Markets.

Cheque or cash deposits are not accepted. Traders must ensure that the transfer is made using a bank account or credit card which bears the trading account holder’s name as it appears on the account.

Deposit Limits

There is no set minimum deposit amount on the CMC Markets UK platform. However for new accounts, the CMC Markets team recommends a minimum deposit of 1000 pounds, irrespective of whether credit cards or bank wires are used. Deposits made with bank wires will usually attract some fees at the bank level. 

Withdrawal Limits

There are no minimum or maximum withdrawal limits on CMC Markets. However, the beneficiary name on withdrawal requests must match the account names on the ID documents, and all withdrawal requests are verified by phone prior to the processing and transfer of the fund.

Strengths & Weaknesses

Strengths

CMC has produced an outstanding brand-new trading platform that enables investors to concentrate on the operational performance of their selected assets by filtering out distracting, irrelevant and misleading price movements and formations. In addition, clients can enhance their spread betting performance by utilizing extensive credit facilities as long as their account balance exceeds £10,000.

CMC also offers its customers free demo facilities so that they can increase their skills and experience at spread betting without exposing any of their own equity. These extensive facilities will also allow clients to become proficient at operating the trading platform serviced by CMC Markets. Key strengths include:

–       The ‘Next Generation’ Trading Platform

–       Wide-ranging credit facilities if entry criteria are satisfied

–       A library of impressive educational resources

–       Highly competitive spreads.

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Weaknesses

Clients are required to retain a specified amount within their account balance in order to support their active positions. The firm does not offer any bonus incentives for new clientele. The main weaknesses are listed as:

–       The £100 account balance must be maintained in order to support all active spread bets

–       An initial deposit of £200 initial is required to open an account

–       Limited or no special offers

7.   Conclusion

The prime mission of CMC Market is to provide its clients with highly competitive spreads and to support a powerful trading platform enabling them to focus on the pkey trading aspects of their spread bets. Consequently, if these features particularly appeal to you, then CMC Markets could well be your ideal spread betting broker.