CMC Markets Reviews 2023: Features, Cost & Alternatives

CMC Markets Reviews 2023: Features, Cost & Alternatives

cmc markets review
cmc markets review

We also compared CMC Markets’s fees with those of two similar brokers we selected, IG and XTB. This selection is based on objective factors such as products offered, client profile, fee structure, etc. CMC Markets mobile trading platform is one hell of a beautiful mobile app packed with all sorts of features, a simple interface and very useful information at a glance. I’ve been a professional investor for over 20 years and it is my considered opinion that services such as CMC should be avoided by almost all “investors”.

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A User Agreement document is available on the CFD Legal Documents page. Spreads are highly competitive and CMC Markets is an industry leader in keeping costs low for active traders. Crispus is a Financial Analyst for Invezz covering the stock, cryptocurrency and forex markets.

Is this your company?

CMC Markets’ proprietary Next Generation trading platform is packed with quality research and innovative trading tools, and CMC Markets finished Best in Class across 11 categories for 2023. CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments. We are a publicly listed company, therefore the information on our substantial beneficial shareholders can sourced. Furthermore, as an FCA regulated firm, we strive to ensure that we always uphold our regulatory obligations and pay due regard to the interests of our clients and treat them fairly.

All 3 mobile apps are loaded with helpful features traders can use while on the go. You can trade CFDs on forex, indices, cryptocurrencies, shares, ETFs, commodities and government securities via this online broker. An execution service in actual stocks, bonds and mutual funds is not available through this broker, however, and you should not consider CFDs suitable for long-term investment and income generation purposes. Customer support can be extremely important if you have a problem with a trade, so the importance of being able to contact your broker during market hours to resolve an issue cannot be stressed enough.

Absolutely awful customer service from a firm that prides themselves on such. They took over 5 weeks to respond to a serious issue and then the response is a blanket reply which doesnt go to addressing the issue at all. I dont often complain publicly but it’s amazing that firms dealing with your money can get away with such disregard of service. CMC Markets offers their proprietary web platform, mobile app and MetaTrader 4. Third-party research from Reuters and Morningstar is also available for clients with live accounts. For clients in the UK an important difference between spread betting and CFD trading is how they are taxed.

This regulated online broker offers 11,000+ contracts-for-difference and spread betting instruments for both retail and professional traders. The platform features advanced charting with 115 indicators/overlays, 12 chart types, and 35 drawing tools; highly customizable watchlists; client sentiment; and a streaming Reuters feed. Charts can be popped ­out to build and optimize complex desktop layouts. Clients who want to study long-­term trends will find price histories going back 20 years on major instruments. The platform also provides price projection and pattern recognition tools as well as a built­-in connection to the client­-based trader’s forum. CMC Markets places an emphasis on customer service, which includes 24/5 telephone support with access to live brokers and a chat service.

Deposits made by credit/debit card and PayPal are instantly available in your account. Local bank transfers are typically processed within two business hours and international bank transfers can take up to 5 working days. When testing the support via chat, there was often a short delay and placement in a queue.

Is CMC Markets available in the US?

For example, for some clients US shares can have a minimum charge of $10 in-and-out. I have tried numerous platforms, CMC’s online platform is really good, once you get to know all the functions, its packed with info and tools, withdrawals are simple once you are set up. Their support teams been very helpful and I would recommend this online trading platform. Educational articles on the website such as ‘How to Trade Bitcoin’ and ‘What is a trailing stop order? Webinars cater to both beginners and experienced traders and cover topics ranging from the outlook for the global markets to making the most of the Next Generation trading platform.

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It follows the FCA’s client money rules and is very trustworthy with negative balance protection. CMC Markets Next-Generation trading platform has a lot to like, with access to many trading pairs and tight spreads, as well as some helpful advanced trading tools. However, there aren’t great automated trading features, which is something to keep in mind as you consider the rest of our CMC Markets review. Also, CMC Markets withdrawal fees are minimal to non-existent, depending on the method you use.

CMC Markets share price forecast

The best Broker available in UK, Easy and very Fast Money transfer In and Out. Is CMC Markets legit features all the key aspects you need to look at to see if a broker is safe and legit. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. At certain times, CMC Markets also organizes live webinars and regional seminars.

When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker’s regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

  • However, in the case of stock CFDs, commissions are also charged.
  • Note that the platform’s demo account has no trial date, meaning it can never get expired or be limited to a time frame and it provides an unrestricted trade volume.
  • MetaTrader 4, also known as MT4, is an advanced trading platform that provides users with a wide range of market indicators to use when making their trades.
  • A User Agreement document is available on the CFD Legal Documents page.
  • Spread betting can result in saving on your profits, as there is no capital gains tax.

Stock index CFD fees are low, while stock CFD fees are high. To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees. We ranked CMC Markets’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

CMC Markets Fees, Commissions, Margin Rates and Account Minimums

The company has also stood the test of time, having been founded way back in 1989. With the ever-increasing rate of FX and CFDs brokers going out of business, CMC’s 25 years’ experience is reassuring. While it shouldn’t be the determining factor when selecting a reliable broker, knowing client funds are in safe hands provides traders with confidence. Spread betting is a popular alternative option to CFD trading in the United Kingdom. Unlike in CFD where traders own contracts of the underlying instrument, spread betting means one is simply betting on the movements of the financial instruments. Spread betting can result in saving on your profits, as there is no capital gains tax.

Furthermore, there are a few questions based on compliance to confirm one’s trading skills and experience.It might take up to 10 minutes for new account registration and completion. While being able to tour the platform almost immediately, it should be noted that trades cannot take place until the account has been approved and pass compliance. It may cmc markets review take several days to get feedback on registrations. To register, it is safe to go straight to the CMC Markets official website. From the main CMC Markets official website, anyone can access video tutorials on how to make use of the apps on iOS or Android. All these allow a trader to get deeper and perform quick technical analysis on the dashboard.

Pay a spread on every non-equity and a commission on every equity CFD trade. All European and UK customer deposits are subject to the UK Deposit Guarantee Scheme. All deposits are covered by the UK Deposit Protection Fund FSCS up to a maximum of GBP 50,000 per client.

Unlike some of their competitors’ platforms, Next Generation does not have a built-in tool for analyzing trading activity. Given all the features that have been included on this platform, maybe it’s asking for too much to include this as well, but this omission dropped them into the lower-ranking tier for this category. The ability to drill down into one’s trading activity beyond the basic metrics can be invaluable to all traders. Differences exist between CMC Markets’ “Next Generation” platform and its MT4 platform in terms of spreads, commissions, and product offerings.

Traders will be able to refer their contacts to one of the industry’s pioneering companies and earn a commission once the client starts trading. Once the code has been entered, a Demo account has been created. The applicant can now decide if they want to continue to live account registration.

CMC Market’s online trading platform is easy enough for retail investor accounts to use, but also offers some nice depth and advanced risk management tools. With research tools, access to global markets, and a next-generation trading platform, there’s a lot to like about this online broker. There are more than 330 forex currency pairs on offer to trade. This is a massive number of pairs including combinations of major, minor, and exotic FX currencies. The selection in this area is among the largest offered by any major broker. One of the few drawbacks with CMC Markets, besides the fact that it doesn’t accept U.S. clients, is that its tradable asset base covers only CFDs.

cmc markets review

Upon careful analysis, we have determined that CMC markets slightly outperform Roboforex. The trading platform is accessible both on desktops and mobile devices, and it’s a straightforward platform that won’t take much learning if you’re an experienced trader. When it comes to making deposits and withdrawals from the broker, several methods are accepted. These include wire transfers, credit cards, and certain eWallets such as PayPal. Whilst these services may have their own fees, the broker does not typically charge any fees from their side on these deposits. The same is true for withdrawals where the same methods are also accessible.

CMC Markets recommends articles based on your trading experience, with topics ranging from CFD fundamentals to trading strategies. You can choose from an impressive selection of more than 80 technical indicators, along with various other editor tools. There are also extra features, such as automatic trendline drawing tools, and the option to save your favourite charts. The CMC Markets mobile trading platform is user-friendly and well-structured.

How to Open a CMC Markets Demo Account – Step by Step Guide

However, in the case of stock CFDs, commissions are also charged. In our research, CMC Markets showed a good level of transparency in areas such as their regulatory status, fees and general background information. Information and materials are readily available on the website. The regulatory status of different subsidiaries is covered at the footer of each page. The Trading Costs page clearly outlines all the costs such as spreads and overnight holding fees.

Whenever I put a stop loss it goes to stop loss then goes back the other way again. Then when get stopped out it returns back to moving like a snail again I dont understand this I am not the only person trading in the world. I strongly believe these people are ripping off their own customers.