Reviewed by: and verified by Market Chartist and CMC Markets.

CMC Markets is one of the oldest and best-regulated providers of online CFD trading and spread betting services.

FREE DEMO SIGN UP

67% of retail investor accounts lose money

This information has been verified in September 2021 by CMC Markets

General

Broker:
CMC Markets
Company Name:
CMC Markets
Founded:
1989
Regulator:
FCA
Platform:
CMC Markets, MetaTrader 4
Payment Methods:
Bank transfer, card payment, PayPal
HQ:
United Kingdom
Publicly Listed:
Yes
Trust Score:
 
4.8/5
95/100

Features

Min. Deposit:
$0
EURUSD Spread:
Typically 0.7
Average Spread:
0.7
Leverage:
Retail 1:30. Pro 1:500
US Clients:
No
Active Clients:
~40.000
Dealing Desk:
Yes
Web Trading:
Yes
Managed Accounts:
No
Withdrawal Process Time:
3-5 days
CFDs Offered:
Yes
Fees:
Commission, for trading shares on a CFD account, Holding costs on Cash or Spot products (product dependent, Spread and inactivity fee.

Pros

- Regulated by FCA
- Well Established Broker
- Low Min. Deposit

Cons

- No MetaTrader 5 support


CMC Markets Review

CMC Markets is one of the oldest and best-regulated providers of online CFD trading and spread betting services. The founder of the brokerage is Peter Andrew Cruddas, who set up the operation back in 1989.

Cruddas is a well-known philanthropist, political personality, and one of the richest people in London. He has a more than 60 percent share in CMC Markets.

The company maintains corporate branches and physical offices in Germany and the UK. The German branch of the operation is CMC Markets Germany GmbH. The company has secured a license with the German regulator BaFin. Its license number is 154814.

CMC Markets Website
CMC Markets Website

The entity representing the UK side of the operation is CMC Markets UK Plc and CMC Spread Bet Plc. The FCA registration numbers of the two entities are 173730 and 170627, respectively. Being licensed in both Germany and the UK makes the operation MiFID-compliant and thus able to legally peddle its services in several other countries.

The billing address of the brokerage is CMC Markets, 133 Houndsditch

Billing City/ State/Postal Code:, London EC3A 7BX.

The broker has a regulated branch operating under the supervision of ASIC, out of Australia.

There are several CMC markets regional offices in countries like Austria, Sweden, Poland, Spain, Canada, etc.

Despite its solid regulatory status, the reputation of the brokerage is something of a mystery. Some user feedback sites give it a low rating and list scores of trader complaints. Others rank it high and still feature many negative reviews.

What do traders appreciate about CMC Markets?

  • Many traders like the CMC Markets trading platform. It is easy to use and offers a good selection of tradable assets.
  • The broker processes trader deposits quickly, and the registration process is smooth as well.
  • Fast execution is another feature of the CMC Markets trading platform that users appreciate.
  • Some users have pointed out that the broker processes withdrawals just as quickly as deposits. According to the broker, most trader withdrawals are processed on the same day.
  • The CMC Markets support has earned some accolades from various feedback-providers.
  • The Demo account is yet another feature many beginners have found useful.

On the downside, complaints abound on the user forums as well.CMC Markets is a dealing desk broker, and some traders cannot digest this fact. Many complaints boil down to alleged asset pricemanipulation.

  • Some traders have found it difficult and lengthy to open a trading account. When requesting assistance from support, they have also found the support staff unresponsive.
  • Others have complained about the trading conditions. Some users have found the spreads exceedingly steep on some assets.
  • Spread manipulation is usually a complaint every broker has seen. Some users have accused CMC Markets of manipulating (delaying) trade execution, however.
  • Other users have found that the broker charges too many fees, and thus the service becomes an expensive one.

Why would you want to join CMC Markets? What makes the broker attractive for traders?

  • The top priority of the broker is the client. According to the official CMC Markets website, the core purpose of the broker is to provide “the ultimate trading experience.”
  • The broker holds the funds its traders have deposited in segregated bank accounts, thus ensuring their safety.
  • CMC Markets is a member of the Financial Services Compensation Scheme. What this means is that should the broker ever go bankrupt, its traders will be able to recoup their deposited funds.
  • The broker supports multiple order types, allowing its clients to enter and exit trades in the blink of an eye. It also allows traders to control possible slippage through the use of advanced order management options.

CMC Markets Platform and Tools

Feature CMC Markets
Virtual Trading(Demo)
Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Social Trading / Copy Trading
Proprietary
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Currenex
ZuluTrade
MirrorTrader
Charting - Drawing Tools(Total)
Charting - Indicators / Studies (Total)
Watchlists
Order Type - Trailing Stop

CMC Markets features an attractive-looking and powerful Web Trader. Those who wish can also download the desktop version of MT4 from the broker’s website free of charge.

The WebTrader features an attractive-looking, colorful interface, chockfull of options, functionalities, charting tools, and tradable asset selection filters.

The charting and technical analysis features of the platform are outstanding. CMC Markets’ Web Trader has bagged several awards for its advanced charting component.  In addition to scores of objects, drawing tools, and technical indicators, the platform also offers a generous selection of preset templates that allow traders to trigger complex technical analysis setups at a single click.

CMC Markets Platform
CMC Markets Platform

Traders can access more than 115 technical indicators, 12 chart types, and 70 chart patterns.

CMC Markets’ Web Trader allows users to create new layouts, fully customizing the trading interface they use.

The platform used for CFD and Forex trading is the same one the broker uses for spread betting. Its selection of special tools covers a graphical trader sentiment indicator, as well as a pattern recognition scanner to help beginners locate technical analysis-based trading opportunities.

All-in-all, the web platform is a great alternative to the downloadable MT4 version the broker also supports. Those who want to take their technical and fundamental analysis to the next level may wish to opt for the classic MT4 platform.

CMC Markets’ version of MT4 delivers superb charting, a fully customizable trading environment, as well as outstanding execution speeds and direct trading off the chart.

It also supports auto trading through Expert Advisors, although CMC Markets’ traders may not be able to use this functionality.

Both trading platforms support Demo accounts that traders can use to put the broker’s trading conditions to the test before wading into the real-money action.

Commissions and Fees

As mentioned at the beginning of this review, some traders have complained that CMC Markets charges too many commissions.

The broker charges an average spread of 0.7. In addition to that, it also charges some commissions and fees, such as:

  • Commission for trading shares on a CFD account
  • Various holding fees on products, including inactivity fees.  

Research and Education

Feature CMC Markets
Daily Market Commentary
Forex News
AutoChartist
Trading Central (Recognia)
Delkos Research
Acuity Trading
Social Sentiment - Currency Pairs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Economic Calendar
Calendar Includes Forexcasts
Economic News Sentiment
Trade Ideas - Backtesting

To help traders find satisfaction and profits in trading, the broker offers a handful of research and education tools.

  • Daily market commentary and Reuters news within the platform to help with the fundamental aspect of analysis.
  • Client webinars and beginner trading videos. The latter aim to ease traders into the flow of Forex/CFD trading, explaining to them the basics and touching on some more advanced concepts. Such webinars cover technical indicators and platform guides.
  • An economic calendar with forecasts is a great tool for those looking to cash in on the market swings some real-world events/developments elicit.
  • A detailed guide on cryptocurrencies, including what they are, how they work, and how the financial instruments that use cryptos as underlying assets work. 

The broker has a team of in-house analysts who share their expertise with traders in the form of articles.

Customer Service

The quickest and simplest way to contact the CMC Markets support staff is through the phone number featured on the homepage of the official site: +44 (0)20 7170 8200.

Email addresses one can also use for contact are contact@cmcmarkets.ca, clientservices@cmcmarkets.com, and some other regional phone numbers and email addresses.

The broker offers support through its offices in Sweden, Austria, Ireland, Singapore, Poland, Spain, Norway, New Zealand, Italy, France, Germany, Australia, and Canada.

Mobile

Feature CMC Markets
Android App
Apple App
Charting - Draw Trend Lines
Charting - Can Turn Horizontally
Charting - Technical Studies/Indicators
Watchlist - Syncing
Trading - Forex
Trading - CFDs
Alerts - Basic Fields

CMC Markets’ proprietary Web Trader is available inmobile app versions for Android and iOS devices. These apps deliver the same impressive charting features and functionality as their desktop-based counterpart.

Conclusion

CMC Markets is a well-established Forex and CFD brokerage with a solid history. Its reputation is a mixed bag, however. Being a dealing desk broker, it has drawn the ire of some users, while others appreciate its services.

Its proprietary trading platform is perhaps its greatest selling point. Most users like it. Its charting features are superb indeed.

The trading conditions the broker offers are decent. Some traders have, however, complained that CMC Markets charges too many fees.

FREE DEMO SIGN UP

67% of retail investor accounts lose money

Editor

Having started his online career back in 2005, over the years, James has written for scores of websites, covering online poker, eSports, Forex trading, binary options, and digital ledger technology... Continued

Comments on CMC Markets

Your email address will not be published. Required fields are marked *