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CMC Markets Review & Rating [yyyy]

CMC Markets Review & Rating 2022

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Is CMC Markets good? CMC Markets is a multi-award-winning broker providing trading products and services to a global client base. The broker offers forex and CFDs for trading on its advanced trading platforms.But is CMC Markets legit?

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Thanks to its performance and achievements as a broker, the company has won numerous awards. Read this CMC Markets review to discover what this broker offers and to understand the reason for its national and international recognition.

Overview

Company
8/10
Trust
8/10
Trading Platform
8/10
Account Types
8/10
Costs
7/10
Customer Support
8/10
Regulation
9/10
Cryptocurrency
7/10

Company

8 /10

Founded in 1989, CMC Markets is one of the older brokers on the market. By being able to offer the services online, the broker has significantly expanded its target group and now has customers in more than 100 different countries. Active as a market maker, CMC Markets primarily focuses on trading CFDs.  Here traders can trade very classic underlyings, but also decide to bet on the cryptocurrencies. 

This CMC Markets review shows that the broker is good through a variety of opportunities for profitable trading, an innovative service, a proprietary terminal, fast transactions and other advantages. 

The broker, despite the extensive and successful experience of cooperation with market players, continues its development and does everything to increase the number of clients of the platform.

And yet, is CMC Markets scam like many that we have already reported, or is it a broker that we can believe to be 100% reliable? You will find out about this after reading our extensive CMC Markets broker review.

Pros and cons

Pros

  • Regulated
  • Good variety of trading platforms.
  • Interesting range of tools available.
  • No deposit is required to get the bonus.
  • A program for active traders with special benefits.
  • Guaranteed stop loss tool for risk management.

Cons

  • No copy trading.
  • No social trading options.

Trust

8 /10

Is CMC Markets a safe platform? Yes. Customers' deposits at CMC Markets are held in different segregated bank accounts. These funds are held at top European banks such as NatWest, Barclays and Lloyds, Ulster Bank in Ireland, Deutsche Bank in Germany and Barclays in France.

CMC Markets' accounts are regularly audited by internal auditors. PricewaterhouseCoopers audits the files every year and the reports are sent to the regulatory authorities.

CMC Markets UK and European clients are covered by the Financial Services Compensation Scheme (FSCS). The scheme can compensate eligible clients up to £85,000 per person if the broker becomes insolvent. Canadian clients are insured for up to one million Canadian dollars by the Canadian Trader Protection Fund (CIPF). The MAS jurisdictions are entitled to insurance up to 50,000 Singapore dollars.

CMC protects its trading platforms and websites with Secured Socket Layer (SSL) encryptions to ensure adequate protection of the user against identity thieves and cyber hackers.

Trading Platform

8 /10

CMC Markets tries to provide a comfortable environment for trading by providing the following two platforms:

Next Generation

This is CMC Markets' award-winning proprietary platform. It is web-based and thus requires no downloads or installations. It is also available on mobile devices as it runs directly in most modern web browsers. The Next Generation platform is designed with multiple windows and layouts. The platform is loaded with analytical tools, complex map package, advanced order management, news, etc.

Here are some of the features:

  • 12 different types of cards including OHLC, Kagi, Renko cards, etc.
  • More than 115 technical indicators.
  • Fully customizable layouts, charts and indicators.
  • Trade off the charts.
  • Loaded with tools like pattern recognition, client sentiment, module linking, etc.
  • News from Reuters is streamed on the platform.

MetaTrader 4 (MT4)

CMC Markets Review - Trading platform

MT4 was developed by the Russian software company MetaQuotes and is used by millions of investors worldwide. It is a well-known platform for trading Forex and CFDs. CMC Markets provides access to trade thousands of instruments on the MT4 trading platform. MT4 can be downloaded from the CMC Markets website and installed on a Windows PC. The mobile versions are available and can be installed on iOS or Android devices.

Here are some features of MT4:

  • Available in more than 20 languages.
  • Multiple chart types and time frames.
  • Wide range of analysis tools including technical indicators and drawing tools.
  • Automated trading using Expert Advisors (EAs).
  • MetaEditor for creating custom indicators and EBs.
  • Access to the MetaTrader market where signals, custom indicators, EAs and other tools can be purchased or purchased for free.
  • Multiple order types, including risk management tools.
  • Monitoring features such as live quotes, account monitoring, trade monitoring and trade history, etc.
  • Alerts via the platform, SMS and email.
  • Trade on the go using MT4 android app or MT4 iOS app.

Account Types

8 /10

To open a standard account on the CMC Markets platform, you will need to have your identity card or passport at hand. Then you will also need to prove your residence, answer a short questionnaire and make the first deposit.

Before we look at the broker's account types in detail, it is important to note that CMC Markets does not offer Islamic accounts for users who want to abide by Sharia law.

Demo

CMC Markets offers a demo account with virtual currency . This means that you can try the platform, learn how to trade or try new strategies before investing your capital in the real-world trading environment.

To register this type of account, simply select your country, language, and then provide your email and password. The demo account does not have an expiration term, so if you are a beginner it can be a great way to learn, while if you are an expert it could be a good tool to try a trade before applying it with your real capital.

Account CFD CMC Markets

If you are ready to trade, CMC Markets has a standard trading account called the CFD Account. Although it is a basic trading account, it offers over 10,000 instruments such as CFDs , also including over 300 forex pairs.

The first deposit with CMC Markets does not require any minimum amount. Another advantage is that the broker's spreads start at 0.3 pips and there is no additional commission for CFDs, but remember that the commissions on stocks start at $7.

CMC business account

The CMC corporate account is aimed at institutional traders. Open this CFD account, you will be able to deposit any amount, as the platform does not impose a minimum.

This account works as a Multi-Account Manager (MAM), so trading orders can be executed for different accounts from the same terminal. For this, CMC's business account requires a good understanding of how trading works.

The CMC business account has the same spreads and commissions as the standard account. It offers over 10,000 instruments such as CFDs and more than 4,000 stocks .

CMC stock account

CMC Markets offers a dedicated equity trading account, available only to Australian traders. Again, once the account is created, the deposit does not provide for a minimum amount.

For active users, CMC Markets offers the Frequent Trader Program which, according to the broker's website, “offers the lowest brokerage and most advanced features for high volume traders,” features that will help clients save on commissions.

Account Spread Betting CMC

CMC's spread betting account is only available under UK regulation. You will be able to bet on spreads, deciding whether a certain price will go up or down.

Forex spreads start at 0.7 pips and over 10,000 instruments are available.

CMC Markets professional account

The CMC Markets Professional Account is available for three countries or regions. Being a professional trader account, with high funds, you will need to prove your eligibility to open it.

As a professional client, once you have met all the requirements in your country, you will also have access to higher forex leverage, up to 500: 1.

If you are a resident of the EU or the UK you will need to meet at least two of the three proposed requirements.

  • Having carried out on average, in the past year, 10 transactions per quarter of significant size
  • Own a portfolio of financial instruments of over €500,000, in your bank or trading account.
  • Have relevant experience in the financial services industry.

If you fall under the jurisdiction of the Australian entity, you will need to meet one of three criteria.

  • Same EU and UK requirements.
  • At least $2,500,000 AUD in equity.
  • Income of at least $250,000 AUD in the past 2 years.

If, on the other hand, you want to open a professional CMC Market account in Singapore, you will need to satisfy at least one of the following:

  • Income of at least SGD $300,000 in the past year.
  • A minimum of $2,000,000 SGD in equity.
  • At least $1,000,000 SGD in financial instruments.

Cryptocurrency

7 /10

As part of the CMC Markets review, we checked whether cryptocurrencies are part of the broker's trading offer. In fact, these are another part and can be traded using CFDs. 

The rise in the price of cryptocurrencies has attracted more and more interest in recent years. Therefore, CMC Markets has also started trading and now offers 12 digital currencies on which CFDs can be opened. These include, for example:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • Dash 

The digital currencies are traded as currency pairs with fiat currency. The digital currency market is always on the move. It is precisely for this reason that it is advantageous for traders to be able to benefit from rising and falling prices. However, it is also important to look at trading costs.

Costs

7 /10

This CMC Markets review highlights the fees and costs you can incur when trading with this broker. The broker makes their money through the spread and commissions on share CFDs. There are no additional fees (except for $10 inactivity fees after one year). There are also no fees for deposits and withdrawals. However, there may be a fee for an "express transfer" (not absolutely necessary). Overall, the forex and CFD broker is very transparent with the fees and costs. I couldn't find any hidden costs.

Fees and costs for traders at CMC Markets:

  • The broker make money through the spread and commissions
  • no hidden costs
  • No deposit and withdrawal fees
  • Inactivity fee from 1 year ($10)
  • Possible fees for exotic stock market data

Customer Support

8 /10

The customer desk is available 24 hours a day from 9 p.m. Sunday to 10 p.m. Friday. The communication channels available are telephone, email, and instant web chat.

The support page has a glossary of approximately 220 financial market terms and detailed definitions. It also has top Frequently Asked Questions (FAQs) grouped accordingly.

The broker is also available on social media; Facebook, Twitter, LinkedIn, and YouTube.

Notably, CMC Markets supports a wide range of languages ​​including English, German, French, Polish, Spanish, Swedish, Italian, and Norwegian.

Regulation

9 /10

Regulation is one of the crucial, if not the most important factors to analyze when choosing a reliable broker. In fact, regulation will help you avoid falling into bad investments or scam.

 

Is CMC Markets regulated? Is CMC Markets scam possible? These are some of the questions that many traders ask themselves.

In this CMC Markets review, we found that this broker is regulated by the following regulatory bodies:

  • CMC Markets is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom (UK) with license number 173730. This license controls the activities of the United Kingdom and Europeans through its MiFID passports.
  • CMC Markets is authorized and regulated by the Australian Securities and Investments Commission (ASIC) with license number 238054.
  • CMC Markets New Zealand is licensed by the New Zealand's Financial Markets Authority (FMA) with license number 41187.
  • CMC Markets in Singapore is licensed by the Monetary Authority of Singapore (MAS).
  • In Canada, the Investment Industry Regulatory Organization of Canada (IIROC) regulates the brokerage activities of CMC Markets.

These regulators show that this broker is reputable and a CMC Markets scam is impossible. The authorization of CMC Markets offers a certain security for the trader. If a broker is regulated, a check is carried out with regard to compliance with the requirements.

Conclusion

To conclude our CMC Markets review, we can say this CFD brok is one of the best you can find out there. The company is fully regulated and licensed. For  almost thirty years, CMC Markets has been known as a professional broker with impressive experience, prestigious awards, and a large base of loyal clients. The company has been successfully operating in the market since it was launched, making profitable online trading possible.

No initial deposit, no slippage, a convenient terminal, tight spreads, fast order execution, platform support for different strategies, etc. - those advantages that distinguish the organization favorably among similar companies. Today, we can't call CMC Markets scam, however, CMC Markets opinions from the platform's clients can not only affect its rating within the project but also warn traders about possible system problems, which is also important for an investor.

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