CMC Markets ā€‹Review 2020

CMC Markets Summary

CMC Markets was founded in 1989, starting its operations in the United Kingdom. This Forex broker has gained a positive reputation on its different assets that have strengthened CMC Markets. CMC Markets is a global CFD and Forex trading broker that has much to offer.

This CMC Markets review will dive into the details of this Forex broker and inform you on all the different features of CMC Markets.

CMC Markets is a global CFD and Forex trading broker that is regulated by more than four different financial regulators around the world. Among other regulators, CMC Markets is regulated by theĀ Financial Conduct Authority (FCA) in the UK and by the Australian Securities and Investment (ASIC) in Australia.

CMC Markets offer tight spreads and require very low non-trading fees. Non-trading fees that you will not be required to pay with CMC Markets include: withdrawal fee, deposit fee, account fee and minimum deposit. Additionally, CMC Markets established a premium trading platform that will ensure better quality for your trading needs.

CMC Markets Main Features
šŸ›ļøEstablished in:
1989
šŸ›ļøHeadquarters:
UK
āš–ļøRegulations:
FCA, ASIC
āš–ļøCountry of regulation:
UK,Ā  Australia
šŸ’°Minimum Deposit:
$0
šŸŽ®Platforms:
Next Generation; MT4
šŸŽ®Demo Account Available:
Yes
šŸ’±Leverage:
1:500
šŸ’°Withdrawal fee amount:
$0
šŸ’°Inactivity Fee:
Yes

Background

CMC Markets is a Forex broker that has been operating since 1989, headquartered in London. The aim for this Forex broker is to provide clients with the best trading environment. CMC Markets believes in promoting online trading, innovation, and always improve the investment methods of their clients in financial markets. This Forex broker is publicly traded and listed on the London Stock Exchange.

Pros

  • Regulated by theĀ Financial Conduct Authority (FCA)
  • Regulated by the Australian Securities and Investment Commission (ASIC)
  • Low non trading fees
  • No minimum deposit required for trading account
  • No withdrawal or deposit fee
  • Offers CMC Next Generation trading platform
  • Wide range of financial products
  • Different means of communication for customer service
  • Free Demo Account provided
  • Wide range of account base currencies

Cons

  • No 24\7 customer service available
  • Account verification is complicated
  • International bank transfer requires a fee

Safety & Regulation

CMC Markets is currently headquartered in the UK, and it is regulated by the Financial Conduct Authority in the UK, the Australian Securities and Investment Commission (ASIC). This Forex broker also provides the option for negative balance protection and it is publicly listed, adding more transparency to CMC Markets.

This CMC Markets will demonstrate the different protective and preventive measures that will be taken for active traders.

Is CMC Markets Safe?

CMC Markets is a regulated and licensed Forex trading broker that is registered with more than four different top-tier financial regulatory agencies from all over the world. In addition to the regulations that CMC Markets comply with, this Forex trading broker provides negative balance protection and investor protection, in the case that an active trader has reached a negative balance or the Forex trading broker ends up in bankruptcy.

Pros

  • Regulated by the Australian Securities and Investment Commission (ASIC) in Australia
  • Regulated by theĀ Financial Conduct Authority (FCA) in the UK
  • Regulated by the Financial Markets Authority (FMA) in New Zealand
  • Regulated by the Monetary Authority of Singapore (MAS) in Singapore
  • Regulated by theĀ Investment Industry Regulatory Organization of Canada (IIROC) in Canada
  • Provides negative balance protection
  • Publicly listed on stock exchange
  • Offers investor protection amount for active traders of CMC Markets

Cons

  • Does not hold a banking license

Regulation

CMC Markets is currently regulated by five different financial regulatory agencies from all over the world. This Forex trading broker is currently regulated by the Australian Securities and Investment Commission (ASIC) in Australia, by theĀ Financial Conduct Authority (FCA) in the UK, by the Financial Markets Authority (FMA) in New Zealand, by the Monetary Authority of Singapore (MAS) in Singapore, and by theĀ Investment Industry Regulatory Organization of Canada (IIROC) in Canada.

Protection

CMC Markets offers two types of preventive measures, which proves the safety of this Forex broker. Ā The first measure is that CMC Markets offers active traders negative balance protection, in the case that the client is still financially protected even when a balance in the negatives. The second measure is that CMC Markets offers investor protection amount to the CMC Markets traders to protect the client funds in case that the broker goes bankrupt.

In addition, CMC Markets complies with all of the regulations from the financial agencies, including the storage of client funds in segregated accounts and conducting regular audit reports.

Awards

CMC Markets has been awarded as the Best Customer Service and Best Overall Satisfaction, and the Best Platform Features of 2018. This was awarded by the Investment Trends 2018 UK Leverage Trading Report, which is all based on the highest user satisfaction among spread betters, CFDs, and Forex active traders.

CMC Markets Fees

CMC Markets offers different financial services that are free of charge, whether it is while you are trading currency pairs or while you are depositing funds into your trading account. CMC Markets offers free financial services because this Forex trading broker values your comfort and feedback.

This CMC Markets review will inform you of the different trading and non-trading fees that you are required to pay with CMC Markets.

Trading Fees

CMC Markets offers two different trading accounts: the CFD Account and the Spread Betting Account, and each trading account has a different set of trading fees. With the CFD Account, spreads for currency pairs start from 0.7 points, and commissions on shares starting from 0.1%.ā€‹ The CFD Account offers very competitive spreads and transparent pricing, which is essential for trading.

As for the Spread Betting Account, this trading account allows you to trade tax-free, and spreads start from 0.3 pips. You will find that the Spread Betting Account also offers competitive and tight spreads for active traders.

Pros

  • Low non-trading fees
  • No deposit or withdrawal fees
  • No commission charged for both trading accounts
  • Competitive and tight spreads available
  • Transparent pricing provided for both accounts

Cons

  • Commission charged on shares trading

Non-Trading Fees

CMC Markets does not charge traders for any non-trading fees of any kind. This means that active traders will not be charged for any financial transaction in a non-trading sense. CMC Markets does not require a deposit fee or withdrawal fee, so you can make deposits and withdrawals free of charge. However, you will be charged with an inactivity fee of 10EUR or its currency equivalent, after staying inactive on your trading account for 12 months.

Leverage

CMC Markets has a standard maximum leverage level up to 500:1 for non-UK and non-European clients, but European and UK clients have a standard maximum leverage level up to 30:1.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

CMC Markets Fees Compared To Competitors
CMC Markets FXTM Saxo Bank
Account Fee No No No
Inactivity Fee Yes Yes Yes
Deposit Fee 0USD 0USD 0USD
Withdrawal Fee 0USD 3USD 0USD

Account Opening

CMC Markets offers two different trading accounts: The Spread Betting Account and the CFD Account. The CFD Account and the Spread Betting Account, and each trading account have a different set of trading fees. On the plus side, you will not be required to make a minimum deposit or be charged with the commission.

This CMC Markets review will demonstrate on how to open a Live Account through a step-by-step guide.

Pros

  • No minimum deposit
  • Different trading accounts for each trader type
  • Competitive and tight spreads
  • Easy and fast account opening process
  • Fully digital process to open an account

Cons

  • None

Minimum Deposit

The minimum deposit for CMC Markets is 0USD, which means that you are not required to make a minimum deposit to start trading with CMC Markets.

CFD Account

The CFD Account for CMC Markets provide competitive and tight spreads that start from 0.7 pips for Forex and 1 pip for indices. In order to minimize financial risk, risk management tools are used to protect client funds such as: regular, trailing, and guaranteed stop-loss orders (GSLOs). CMC Markets offers 3.3% margin rates for Forex pairs and currency pairs.

Spread-Betting Account

The Spread-Betting Account for CMC Markets allows you to gain access to financial markets and be able to trade tax-free. You will be able to trade Forex, Indices, Commodities, Stocks, and Cryptocurrencies. The Spread-Betting Account offers transparent prices and competitive spreads that starts from 0.7 pips.

For both the Spread-Betting Account and the CFD Account, you will find that there are no hidden costs and you will find all the potential costs on the CMC Markets website.

How To Open a CMC Markets Trading Account

Step One: Choose your country of residence to find out if CMC Markets has access to your country.

CMC Markets Demo Account -1

Step One: Choose your country of residence to find out if CMC Markets has access to your country.

Step Two: Fill in your email and new password for the trading account

CMC Markets Step -2

Step Two: Fill in your email and new password for the trading account

Step Three: Use the verification code from your email account so you can activate your Account.

CMC Markets Step -3

Step Three: Use the verification code from your email account so you can activate your Account.

Step Four: Add a document to verify your identity through your Proof of Identity (POI) and Proof of Residence (POR).

Deposit & Withdrawal

CMC Markets enables traders to make withdrawals from and deposits to their trading account in a fast and seamless way. You will have the choice in the payment method and the account base currency for your trading account; it will all be up to you and what you prefer as a trader.

This CMC Markets review will inform you on the different base currencies and payment methods for your trading account.

Account Base Currencies

With CMC Markets, you will be able to select one from ten different account base currencies for your trading account. The ten account base currencies provided for you to choose from are: AUD, GBP, CAD, EUR, NZD, PLN, SGB, SEK, USD, and NOK. However if you choose to open a spread betting account, you should know that only the Euro and the British Pound are the accepted base currencies.

Australian Dollar (AUD) British Pound (GBP) Canadian Dollar (CAD) Euro (EUR) New-Zealand Dollar (NZD)
Polish Zloty (PLN) Singapore Dollar (SGD) Swedish Krona (SEK) United States Dollar (USD) Norwegian Krone (NOK)

Deposits

CMC Markets provides a fast depositing service, which allows you to have your deposits in your trading account in approximately 2-3 business days maximum. You can choose how to make your deposits in the following three methods: bank transfer, electronic payment, or by a credit\debit card. With CMC Markets, you will not have to worry about a deposit fee, since there is none.

Pros

  • Fast deposit process
  • Variety of payment methods
  • No deposit fee
  • Wide range of account base currencies

Cons

  • None

CMC Markets Deposit Options

  • Electronic Wallet
  • Bank Transfer
  • Credit\Debit Card

Withdrawal

CMC Markets offers a fast executing withdrawal process, which is a rare feature in Forex brokers. The withdrawn funds can be processed and received in approximately 1-3 business days. CMC Markets provides several types of payment methods, such as: bank transfers, electronic wallets, and credit\debit cards. However, it should be noted that if you are opening a Spread Betting Account, then you cannot perform a withdrawal via credit\debit card.

The withdrawal process is easy and painless, without a withdrawal fee. However, if you want to receive a same-day withdrawal service by international bank transfer, then you will be charged with a 15EUR withdrawal fee.

Pros

  • Fast withdrawal process
  • Different payment methods available
  • No withdrawal fee
  • Selection of account base currencies provided

Cons

  • No debit\credit card withdrawals with Spread Betting Account
  • 15EUR withdrawal fee for same-day international bank transfer

CMC Markets Withdrawal Options

  • Electronic Wallet
  • Bank Transfer
  • Credit\Debit Card

Trading Platforms

CMC Markets offers two different types of trading platforms: MetaTrader4 and CMC Next Generation. MetaTrader4 is one of the most popular trading platforms in the world and Next Generation is a CMC Markets in-house generated trading platform.

This CMC Markets review will demonstrate the different features through the CMC Markets Next Generation platform.

  • CMC Next Generation
  • MetaTrader4

Web Trading Platform

With CMC Markets Next Generation web trading platform, you can use it on any operating system and select one of nine different languages. The design is user-friendly and allows you to customize it to your trading preferences. In regards to order types, you will find both basic order types that are available on MetaTrader4 and advanced order types are provided for you.

You can activate price alerts and notifications on economic events you are interested in. In addition, you can look through your trading history where you will find clear and accurate fee reports of your previous transactions. On the other hand, you will only find a one-step login process, rather than a two-step verification process.

Pros

  • Available on all operating systems
  • 9 different languages provided
  • Highly customizable layout
  • User-friendly design
  • Basic and advanced order types available
  • Price alerts can be activated
  • Able to view clear fee reports

Cons

  • No two-step login process

Desktop Trading Platform

CMC Markets has not developed a built-in desktop trading platform for Next Generation, you will only be able to use MetaTrader4 as a desktop trading platform.

Mobile Trading Platform

CMC Markets offers a Next Generation mobile trading platform that can be used on both iOS and Android operating systems and you can choose from the same nine languages that are available in the web trading platform. The design of the mobile application is user-friendly, easy to navigate, and structured well. You can use basic order types and advanced order types, similar to the Next Generation web trading platform.

The Next Generation mobile application allows you to activate price alerts and notifications on economic events that have piqued your interest. Despite the fact that there is no two-step login, the Next Generation mobile trading platform will allow you to login through a swipe-up option or fingerprint option as a form of recognition, which will come in handy.

Pros

  • Available in different mobile operating systems
  • User-friendly and structured design
  • Basic and advanced order types
  • Price alerts and notifications available
  • Swipe-up and fingerprint recognition provided
  • 9 different languages available

Cons

  • No two-step login process

Markets & Financial Instruments

CMC Markets offers seven different asset classes, with thousands of financial instruments available to trade with. The size of the product range of CMC Markets is very uncommon among its main competitors or compared to most Forex brokers in the trading industry.

This CMC Markets will describe the different financial instruments that you can trade with and what financial markets you will gain access to as an active trader.

Pros

  • Wide selection of financial instruments
  • Access to all financial markets available
  • Provides cryptocurrencies
  • Ease of trading access to the financial instruments

Cons

  • None

CMC Markets provides access to seven different financial markets, which are: Forex, Stocks, Indices, ETFs, Commodities, Bonds, and Cryptocurrencies. You will find that you can trade with thousands of financial instruments, including: more than 300 currency pairs, more than 90 indices, and over 8,000 stocks. In addition, you can trade 1,000 ETFs, over 130 Commodities, 56 bonds, and 15 major cryptocurrencies.

What CMC Markets Offers
Forex Stocks
Indices Commodities
Cryptocurrencies Bonds
ETFs

Markets Research & Trading Tools

CMC Markets offers most of the market research materials and trading tools in the Next Generation web trading platform. You will find both research materials and trading tools are found to be useful for novice traders and advanced traders.

This CMC Markets review will identify the different trading tools and market research materials that will be available for you.

Trading Tools

CMC Markets provides various trading tools to assist in market analysis and determine any potential trading opportunities. You will find that the Pattern Recognition Scanner will assist in identifying patterns that will redefine your trading strategies, while the Client Sentiment Analysis informs you on the percentage of CMC Markets clients who have bought versus the percentage who have sold on a particular product, which will help you understand the expectations of other traders. In addition, the Multiple Layout trading tool will generate and save up to five different trading layouts within the platform.

CMC Markets Tools
Client Sentiment Multiple Layouts
Pattern Recognition Scanner Module Linking

Pros

  • Larger trading dashboard
  • Predict for up to 120 products every 15 minutes
  • Automated trading with Module Linking
  • Client sentiment analysis data is based on real-time

Cons

  • None

Market Research

Market research materials are available on the web trading platform, Next Generation. The materials are available for both novice traders and advanced traders to stay updated on the trading world. In addition, you will be able to stay informed by using the different materials in several languages, similar to the customer service.

Pros

  • Available in 9 different languages
  • Trading ideas in multiple forms
  • Research material ā€œChat Forumā€ resembles social trading
  • Morningstar reports as fundamental data
  • Live newsfeed provided by CMC Markets and Reuters

Cons

  • None

CMC Markets offers different market research materials that will allow you to stay updated on the trading world. You will find that the trading ideas are available in several forms, as Insights and as Chat Forums. The Chat Forum resembles more of social trading, enabling you to interact with other traders. Additionally, you can access a live newsfeed with Reuters and daily fundamental analyses with Morningstar reports on the CMC Markets website and trading platform.

Customer Service

CMC Markets offers a 24-hour service that is available in several languages, with a fast response time and accommodating staff. You can contact the customer service with different means, and find that the staff is very helpful.

This CMC Markets review will inform you of the different means of communication available and the evaluation of the customer service.

CMC Markets provides customer service for its active traders that will allow you to answer all of your inquiries. You will be able to reach them for 24 hours a day, but you will not be able to reach the customer service during the weekend. The customer service enables you to contact through different forms of communication via phone call, live chat, and email support. CMC Markets customer service is very helpful and provides a fast response time.

Pros

  • Available in several languages
  • Fast response time
  • Selection of different means of communication
  • Helpful customer service staff
  • Available 24 hours a day

Cons

  • Not available 7 days a week

Means Of Communication

  • Phone support
  • Live chat
  • Email support

According to customer feedback, customer service provides fast response time and offers accommodating answers that are very helpful. The customer service department provides the clients with a safe environment that allows you to ask any questions through different means of communication, which gives the client several methods of communication.

Client Education

CMC Markets offers different client educational resources, including webinars and seminars. All educational resources are available for CMC Markets active traders, allowing you to read educational articles, attend educational events, and watch educational videos.

This CMC Markets review will demonstrate on how to open a Demo Account through a step-by-step guide.

Pros

  • Free Demo Account
  • Different educational resources
  • Summaries of educational content to look through
  • Live webinars and seminars available

Cons

  • None

CMC Markets offers five different educational resources that are available in different forms. You can learn how to trade through online, courses, platform guides, live webinars, trading library, and a free Demo Account. The Demo Account is a free and unlimited account that allows you to trade in a risk-free environment as a simulation to test out the Forex broker.

Client Education Resources

  • ā€œLearn Toā€ Courses
  • Platform Guides
  • Webinars and Events
  • Trading Library
  • Demo Account

How To Open a Demo Account

Step One: Choose your country of residence to find out if CMC Markets has access to your country.

CMC Markets Demo Account -1

Step One: Choose your country of residence to find out if CMC Markets has access to your country.

Step Two: Fill in your email and new password for the trading account

CMC Markets Demo Account -2

Step Two: Fill in your email and new password for the trading account

Step Three: Use the verification code from your email account and start trading.

CMC Markets Demo Account -3

Step Three: Use the verification code from your email account and start trading.

Conclusion

CMC Markets was founded in 1989, starting its operations in the United Kingdom. This Forex broker has gained a positive reputation on its different assets that have strengthened CMC Markets. CMC Markets is a global CFD and Forex trading broker that has much to offer.

CMC Markets is a regulated and licensed Forex trading broker that is registered with more than four different top-tier financial regulatory agencies from all over the world. In addition to the regulations that CMC Markets comply to, this Forex trading broker provides negative balance protection and investor protection, in the case that an active trader has reached a negative balance or the Forex trading broker ends up in bankruptcy.

In conclusion, CMC Markets is a safe and regulated Forex trading broker that can be trusted.

CMC Markets
$0
Min. Deposit
N/A
Bonus
Regulated byFCA, ASIC
Leverage1:500
Customer Support24/5
Open Account

CMC Markets Overall Performance

  • Safety and Regulation 98% 98%
  • Deposit and Withdrawal 98% 98%
  • Market Research & Trading Tools 97% 97%
  • Broker Fees 98% 98%
  • Trading Platforms 97% 97%
  • Customer Service 99% 99%
  • Account Opening 98% 98%
  • Market & Financial Instruments 97% 97%
  • Client Education 99% 99%

Frequently Asked Questions

Is CMC Markets A Good Broker?

CMC Markets is a global CFD and Forex trading broker that is regulated by more than four different financial regulators around the world. Among other regulators, CMC Markets is regulated by theĀ Financial Conduct Authority (FCA) in the UK and by the Australian Securities and Investment (ASIC) in Australia. CMC Markets offer tight spreads and require very low non-trading fees. Non-trading fees that you will not be required to pay with CMC Markets include: withdrawal fee, deposit fee, account fee and minimum deposit. Additionally, CMC Markets established a premium trading platform that will ensure better quality for your trading needs.

Is CMC Markets Legit?

CMC Markets offers two types of preventive measures, which proves the legitimacy of this Forex broker. Ā The first measure is that CMC Markets offers active traders negative balance protection, in the case that the client is still financially protected even when a balance in the negatives. The second measure is that CMC Markets offers investor protection amount to the CMC Markets traders to protect the client funds in case that the broker goes bankrupt. In addition, CMC Markets complies with all of the regulations from the financial agencies, including the storage of client funds in segregated accounts and conducting regular audit reports.

How Long Do CMC Markets Withdrawals Take?

CMC Markets Withdrawals are fast processes, which take approximately 1-3 business days.

What Is The Minimum Deposit For CMC Markets?

The minimum deposit for CMC Markets is 0USD, which means that you are not required to make a minimum deposit to start trading with CMC Markets.

Is CMC Markets Regulated?

CMC Markets is currently regulated by five different financial regulatory agencies from all over the world. This Forex trading broker is currently regulated by the Australian Securities and Investment Commission (ASIC) in Australia, by theĀ Financial Conduct Authority (FCA) in the UK, by the Financial Markets Authority (FMA) in New Zealand, by the Monetary Authority of Singapore (MAS) in Singapore, and by theĀ Investment Industry Regulatory Organization of Canada (IIROC) in Canada.

Is CMC Markets An ECN Broker?

No, CMC Markets is not an ECN broker.

Is CMC Markets Safe?

CMC Markets is a regulated and licensed Forex trading broker that is registered with more than four different top-tier financial regulatory agencies from all over the world. In addition to the regulations that CMC Markets comply to, this Forex trading broker provides negative balance protection and investor protection, in the case that an active trader has reached a negative balance or the Forex trading broker ends up in bankruptcy.