Trading with CMC Markets, it is likely that you already have some extensive knowledge on how the broker works and everything that has to offer.
Certainly, if you have taken a look at our CMC Markets review, you will be well aware of these points.
Taking a closer look at the broker in certain areas though is important. That is why we have decided to drill down on the areas around the CMC Markets minimum deposit and funding methods in particular.
These are points that can really impact your decision on trading with the broker or not, so they are definitely worth a closer, more detailed look.
Let’s get started.
CMC Markets USA
The first very important point to note is that, if you are a USA-based trader, the broker is unfortunately unavailable at the moment in the US.
This may change at a later day, but for the moment, US-based traders are not accepted.
CMC Markets Base Currency
The base currency is the currency in which you can trade with any major broker. Through top forex brokers, many base currencies are typically made available. This makes it easy for you as a trader to trade in the currency that you know well and are comfortable with.
The CMC Markets base currency available depends on your account type, however, CFD and corporate accounts, in particular, allow for every major currency to be traded.
If your account is a spread betting on, then the accounts will cater for GBP and EUR as a base currency.
CMC Markets Funding Methods
CMC Markets accepts a variety of major funding methods. This includes bank transfers that are available. You should check with your banks in regards to their policy with fees associated with bank transfers, They may charge a fee on their end where there is no fee associated with the CMC Markets end.
Credit card deposits are also accepted through both Visa and Mastercard. These are the most used card deposit methods, although other cards like American Express are not accepted at the moment.
Moving to eWallets, this popular funding method is also catered for through CMC Markets. PayPal is the only service which is available at the moment although more may be made available in the future as the demand arises.
Typically, the processing periods for any deposit to CMC Markets run to a maximum of 1-2 days from the deposit to being able to trade with your funds.
CMC Markets Minimum Deposits
Having taken a look at the various funding methods available and the base currencies you can avail of to fund your forex trading journey, let’s take a closer look at the CMC Markets minimum deposit and how it applies to each account type.
CFD accounts through CMC Markets are available around the world. These accounts function as Standard private accounts for traders with the broker and are the most common type of account held with them for regular traders.
When operating with the kind of CMC Markets account type, there is no minimum deposit to be concerned about (here you can see some other brokers with no minimum deposit). You can get started trading here with as little as $1.
With that said, the broker does recommend you to deal with at least $200 in your account when you are trading. This is to make sure you get the full experience of using the broker’s services.
The CMC Markets corporate account is again one that is available to traders around the world.
Surprisingly, there is also no CMC Minimum deposit associated with the corporate account although it can be registered under your business or trading name.
Spread Betting Account
The CMC Markets spread betting account is available to those located within the UK only. This is predominantly to do with remaining compliant with regulation in other areas. This form of trading is where you can earn based on speculation and the movement of spreads.
There is no minimum deposit in place on this account type either although again, the broker does recommend that you deposit at least $200 in order to fully avail of their services.
The final CMC account type for us to take a look at here is the CMC Pro account. This account type is available to anyone who holds a CFD Trading account, or a CMC Spread Betting account although they must first satisfy two of the following three requirements to upgrade account type.
- CMC Pro account holders must possess an average of 10 significantly sized transactions per quarter consecutively over the previous four quarters.
- Additionally to that, their financial portfolio of assets which can include cash deposits must be in excess of $500,000.
- The final requirement is that the trader should possess at least one year of working experience in the financial industry with knowledge of leveraged trading products. Two of these three requirements must be met in order for the broker to remain compliant with ESMA regulation among others.
The benefits that you can look forward to as a CMC Markets Pro trader include being able to access as much as 500:1 in leverage on major markets when the maximum available to regular traders in the same markets is 30:1. You can also receive further protections from new ESMA regulations as they come into force. Beyond this, you can also avail of the services of a dedicated CMC Markets account manager.
These are all excellent and very worthwhile benefits of your trading does happen to meet the volume and other requirements to open a CMC Markets pro account.
With CMC Markets, as we have previously mentioned, they remain very focused on abiding by the rules of their regulators.
The knock-on effect of this compliance means that they cannot offer any form of CMC deposit bonus to traders at the moment.