CMC Markets Review

August 2022

76% of retail investor accounts lose money when trading CFDs with this provider.

CMC Markets was established in 1989 and currently caters to over 300,000 traders worldwide. They offer spread bets and CFD trading on 11,000 different instruments spread across FX, commodities, indices, shares, cryptocurrencies and bonds. This broker has offices in the major financial centres throughout Europe and other parts of the world such as China, Singapore, or Australia. The broker is quoted on the London Stock Exchange and has recently won various awards for the services it offers.

Pros

  • Established in 1989
  • Publicly Traded
  • User friendly “Next Generation” Platform
  • Award-winning customer support

Cons

  • Not available in a wide range of languages
  • No automated trading on proprietary platform

Is Trading With CMC Markets Safe?

CMC Markets is regulated by two top tier financial authorities:

  1. Financial Conduct Authority (FCA) – the regulatory body for the UK
  2. Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) – the regulatory body for Germany


The qualities and strictness of scrutiny from these financial regulators guarantee that this broker will maintain standards of transparency, accountability and trust needed to enter a trading relationship.

Spreads & Fees

As with all FX brokers, CMC Markets makes its profits from widening the bid offer spread. This means that their prices are slightly wider than those found in the interdealer market. While many brokers charge a commission for trading CFD shares this house will maintain its policy of widening the bid offer spread. Other fees may apply for carrying positions overnight.

The table below shows the minimum spreads for each of the major forex pairs as listed on the CMC Markets website and compares them against the industry average.

CMC Markets Spreads

Note: Spreads are variable and can change depending on the time of day and market conditions. For information purposes only.

CMC Markets offers competitive spreads for 6 of the 7 major pairs as well as the cross EUR/GBP. This compares favourably to other brokers that maintain very tight bid offer spreads for the most traded currency pairs such as EUR/USD and GBP/USD or USD/JPY, but then apply wider spreads when quoting the other majors or minors and crosses.

Trading Platforms

This broker offers the Metatrader MT4 platform and their in-house platform Next Generation. The MT4 is probably one of the best known trading platforms for retails traders, no need to mention its usefulness here. The Next Generation platform stands out very well also compared to MT4 or other platforms. What we liked about this platform, in particular, was the ease with which you can get yourself set up and learn its features. No need for downloads as you can trade directly through your browser. The platform holds a very large set of technical analysis tools and comes with a Reuters news live feed.

CMC Markets Trading Platforms

Mobile Trading

This broker offers mobile Access with apps for its Next Generation platform. Apps are available for Android and iOS. Of course, you could also use the MT4 mobile app if you prefer that platform for your PC. The mobile apps are user friendly and have all the functions to trade and manage on the go. The broker was awarded Best Mobile/Tablet App and Rated Highest for Charting, in the Investment Trends Report 2019.

Benefits of the CMC Markets trader app include:

  • On chart trading
  • A full array of charting tools
  • Position & risk management on the go

The CMC Next Generation app is available both in the App Store and Google Play.

CMC Markets Mobile Trading

Education

CMC Markets also excels in this field with award-winning content for traders to learn from scratch as well as for more seasoned players to hone their skills. The broker won Best Education Materials & Programmes 2020 from Investments Trends' Leverage Trading Report.

The educational material offers live webinars, online videos and a trading library with an extensive range of topics and subjects. Some of the topics you will find include the following:

  • How to Build a Simple Trading Strategy
  • Trading Economic News & Events
  • Technical & Fundamental Analysis – The Differences
  • Top 3 Trading Mistakes & How to Avoid Them
  • Considerations when defining Trading Goals
  • A Simple Guide to Risk Management
  • How to Trade Penny Stocks
  • Top 10 Platform Hints
  • What is Fibonacci Trading

The quality of their articles and videos are of the highest standard and given that the topics go from entry level to expert you are most likely to find these resources useful.

The platform also offers demo accounts allowing you to get an idea of whether the platform is right for you, or to practice your trading strategies if you are just getting started.

Research

Research is a very in-depth and thorough aspect of their services. They offer analysis from a team of 3 individuals with decades of experience between them. They bring financial market backgrounds from the hedge fund industry & regular contributions to some of the best known and respected news outlets such as Bloomberg, Fox Business or CNBC to name a few. They also have online articles with up to date news on oncoming events and market analysis. Their articles are updated frequently and relevant to ongoing financial market issues.

Trader Support

Customer support from this broker has also received accolades from the financial industry. The broker received Best Telephone & Best Email Customer Service award from the Investments Trends 2020 UK Leverage Trading Report. Online chat with customer support is not available, which may be a shortcoming for some.

You can speak to Support via:

  • Telephone
  • Email

Verdict

CMC Markets has an award-winning service in all aspects of the FX broker services. It was also awarded Best In-House Analysts by Professional Trader Awards 2019 & No. 1 Most Currency Pairs from ForexBrokers.com Awards 2020. Along with the awards mentioned earlier, the broker clearly supplies a cutting-edge service. This broker has something to offer to new and experienced traders alike. New traders will have access to educational materials of a high standard, award-winning customer service and no minimum deposit. Experienced traders will be able to take advantage of an award-winning trading platform, competitive spreads and advanced trading tools.

76% of retail investor accounts lose money when trading CFDs with this provider.