CMC MARKETS Review 2020 and Technical Opinions

Filippo Last Updated: November 2020 20 min read
security 97
cost 40
trading 62
education 100
Rated: Excellent
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In this CMC Markets review, you’ll find everything you need to dispel any doubt, including our feedback on CMC Markets, both practical and technical, after years of experience on the platform.

The best thing you could is to open a free demo account to try out first-hand the CMC Markets platforms, to be able to fully follow this review.

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CMC Markets Review
Security

Security is one of the most important, if not the most crucial, matters to pay attention to while looking for a broker platform. Here we will take a closer look at exactly what the broker has to offer in terms of security features and more.

CMC Markets

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Foundation and Offices

CMC Markets was founded in London in 1989, at first as a foreign exchange broker. Now, it has 15 offices worldwide and is listed as CMCX on the London Stock Exchange (LSE).

The offices are located in:

  • CMC UK, its main headquarters is in 133 Houndsditch, London, EC3A 7BX.
  • CMC Australia is located in Level 20, Tower 3, International Towers, 300 Barangaroo Avenue, Sydney, NSW 2000
  • CMC Canada on 100 Adelaide St W, Suite 2915, Toronto, Ontario, M5H 1S3.
  • CMC China (Beijing) based at Oriental Plaza, No1 East Chang An Avenue, Unit 22, Room 1901, Tower E2. Dong Cheng District, Beijing 100738 T.
  • CMC China (Shanghai) in Shanghai Tower, Z3-2 Lujiazui Financial Center, Room 3404, Floor 34. Pudong District, Shanghai.
  • CMC Singapore has its office in 50 Raffles Place #14-06 Singapore Land Tower. Singapore, 048623

Regulations

CMC Markets is regulated depending on the jurisdiction you are located in, thus they are able to operate legally and adhere to the rules within each area.

The company is regulated by four renowned top-tier entities, and New Zealand’s FMA. The following regulatory bodies which it adheres to are:

  • CMC Markets UK Plc is regulated by FCA with license number 173730.
  • CMC Markets Singapore Pte. Ltd. is regulated by MAS with license number 200605050E.
  • CMC Markets NZ Limited is authorised and regulated by FMA. Their licence number is FSP41187.
  • CMC Markets Asia Pacific Pty Ltd is regulated by ASIC, authorised by the license number 238054.
  • CMC Markets Canada Inc is regulated by IIROC and ther license number is 12570.

Money Protection

When looking for a broker it is important to know how your funds will be protected and what rights you have in case of bankruptcy or insolvency.

First of all, CMC has segregated accounts to protect clients’ money, not for their direct use or daily expenses. In this way, your money will be unaffected in the case of bankruptcy or insolvency.

According to their website “retail client money is held separately from CMC Markets’ own funds so that under property, trust and insolvency law, client money is protected and therefore unavailable to general creditors of the firm, if the firm fails”.

Another positive protection is that you may not lose more money than the amounts you deposit, therefore you will never have a negative balance. This is known as “negative balance protection”.

In the UK and Canada, regulations cover you up to £85.000 and $1.000.000 respectively. This insurance helps to cover your funds if the broker were to have such problems as bankruptcy or insolvency.

Awards

As mentioned above, CMC Market has a vast number of awards with a total count of over 180 accolades. 50 of these were granted to the company in the last two years, from 2018 until 2020.

This year, the company has won three awards. One of them is for the best web-based platform given to them by ForexBrokers who also honored them for offering their clients the highest number of forex pairs.

The third one was given to them by ADVFN’s International Financial Awards for offering the best spread betting and CFD educational tools.

Not Accepted Clients

CMC Markets’ platform is regulated and authorised in many different countries. With that said, there are still a few locations around the world where they do not offer services. These locations are as follows:

    • Zimbabwe
    • United States of America
    • DPR Korea
    • Iraq
    • Iran
    • Syria
    • Belgium
  • Pros
    • Offices in many countries around the world
    • Regulated by top tier bodies, proving reliability
    • High standard recognition with over 180 awards
    Cons
    • Customers in the USA are not accepted

    CMC Markets Review
    Costs and Accounts

    If you were to decide to open a Live Standard Account on CMC Markets’ platform you would have to have your ID or Passport at hand. You would need to prove your residence, answer a short questionnaire, and finally make your first deposit.

    Before we go into the types of accounts it is important to note that this broker does not offer islamic accounts for clients who would like to be compliant with the sharia law.

    If you’re interested in opening this forex trading account type, we strongly recommend checking out our top 10 best swap free islamic accounts.

    CMC Markets

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    Account Types

    CMC Markets offers a very wide range of account types. Getting started with them is really easy and the verification process is very intuitive. Moreover, they provide a very wide range of additional services which is what we’re going to disclose in this section.

    Demo

    CMC Markets offers a demo account with virtual money. It means you can experiment with the platform, learn how to trade or try new strategies before taking your funds to the real trading environment.

    All you need while signing up is to select your country, language, add your email and choose a password. This account does not expire so if you are a beginner it is a great way to learn, and if you are an expert it might be a smart way to test a move before applying it with your actual funds.

    CMC Markets CFD Account

    If you are ready to start trading CMC Markets has a standard trading account called CFD Account. Even though it is a basic trading account it offers over 10,000 tradable CFD assets which include over 300 forex pairs.

    There is no minimum amount established for first deposits. Another important advantage is that spreads start from 0.3 pips and no additional commission for CDFs are added there are commissions on shares beginning at 7 USD.

    CMC Corporate Account

    The CMC Corporate Account is aimed at satisfying institutional traders. Once you open this CFD account you may deposit any amount, since the platform does not ask for a minimum.

    This account works as a Multi-Account Manager (MAM), which means that trade orders can be entered to different accounts from the same terminal. This would require a high understanding of how trading works.

    CMC Corporate Account has the same spreads and commissions as the account mentioned above. It offers over 10,000 tradable CFD assets and more than 4,000 stocks.

    CMC Stockbroking Account

    CMC Markets offers a Stockbroking Account that is only available for Australian traders. Once you create this account there is no minimum deposit.

    For active users there is a Frequent Trader Program which according to CMC’s website “provides the lowest brokerage and advanced features for high volume traders” that will help clients save money spent through commissions.

    CMC Spread Betting Account

    The CMC Spread Betting Account is available only for traders in the UK jurisdiction. You may bet on the spread deciding if a certain price will rise or fall.

    Spreads on forex begins from 0.7 pips. This account offers 10,000 different assets.

    CMC Markets Professional Account

    The CMC Markets Professional Account is available in three different countries or regions. You must demonstrate you are eligible because it is for commited traders with the level of funds and experience available.

    As a professional client you may even use a leverage amount of up to 500:1 on forex once you have met all the criteria required.

    If you are within the EU and the UK there are three requirements and you must match at least two.

    • You must have an average of 10 significant sized transactions per quarter in the past year.
    • Have a financial instrument portfolio of over €500.000 or equivalent, either in your bank or your trading account.
    • Significant experience in the financial services sector.

    If you are registered with the Australian entity, you must meet one of the three criterias.

    • Same EU and UK requirements.
    • At least $AUD 2.500.000 of net assets.
    • A minimum of $AUD 250.000 of incomes in the last 2 calendar years.

    If you would like to open a CMC Market Professional Account in Singapore, you will need to comply with at least one of the three following requirements:

    • At least $SGD 300.000 incomes in the last year.
    • A minimum amount of $SGD 2.000.000 of net assets.
    • A total of at least $SGD 1.000.000 of financial assets.

    Account Base Currency

    Being an international financial company, CMC Markets offers a wide variety of base currencies such as GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK, SGD.

    Please note that it is important that the base currency you choose matches the currency in your bank account or credit card. This way you will not be charged any conversion fees when you deposit or withdrawal.

    Deposit

    Here we will take a look at everything you need to know when making a CMC Markets deposit.

    CMC Markets Minimum deposit

    CMC Markets does not require minimum deposits for CFD Accounts, Corporate Accounts or Spread Betting Accounts.

    Deposit Methods

    CMC Markets has three different deposit methods which you can use depending on your requirements.

    If you choose wire transfer it will take one business day to process the deposit. When you make your first deposit using a credit card, either Visa or Mastercard, it will usually be instant unless it is your first deposit in which case it may take a little longer.

    There are also eWallets or online payment methods such as PayPal which tend to allow instant deposits.

    Deposit Fees

    Deposits with CMC Markets do not commonly have fees, but some may be applied in the following case scenarios:

    • As mentioned above, there might be a conversion fee if your base currency does not match the currency you make a deposit with.
    • It could be possible that your bank may charge a commission fee when you are using wire transfers.

    Withdrawals

    Here are more details on the withdrawal process with the broker when you reach that time.

    Withdrawal Methods

    The withdrawal methods on any CMC Markets accounts include the same methods as mentioned above on the deposit methods, that is to say, wire transfer, credit card (Visa or Mastercard), and PayPal.

    Withdrawals may take from one to three days to finalize.

    Withdrawal Fees

    Withdrawals with CMC Markets are generally fee-free. The only exceptions here may be if your bank applies a fee on wire transfers, or you are withdrawing to an account with a non-base currency, and need to pay a conversion fee.

    Spreads & Commissions

    At the moment, CMC Markets only offers floating spreads, which is the price difference between the ask and bid that alter depending on the market’s movements. The fees will depend on the changes on the market.

    It is important to mention that this company does not offer zero spread trading. However, all the available accounts have forex spreads starting from 0.3 pips that do not charge further commissions.

    With that said, commissions are only charged on stocks, and they begin at $7 adding a fee on the investment of 0.10%. These fees may vary depending on the market.

    Fees

    Here is a look at another couple of fees you may find when trading at the broker.

    Overnight Fees

    There are a few fees that might be charged, such as overnight fees on every asset. This is because the broker is purely a CFD provider and charges rollover fees. The mentioned fees are charged daily when the market hours close.

    Rollover fees have specific and different values for every asset and pair. You can see each asset’s fee on the broker’s platform.

    If you are an Islamic trader we invite you to check the following link, as you may be interested in Swap Free accounts.

    Inactivity Fees

    This platform has inactivity fees for all accounts that move actual funds, that is to say, fees do not apply to the demo account.

    If you have been inactive as an account holder for one calendar year, you will be charged with a monthly fee of $15. This inactivity fee will be charged until you log back in and continue using your account. This is because there must be a way to maintain the broker’s cost since it is hosting your capital.

    CMC Markets reserves the right to close your account in case you do not have enough funds to cover the $15 inactivity fee.

    Pros
    • An easy to use demo account for new and experienced traders
    • A variety of accounts to choose from
    • An important choice of base currencies
    • No minimum deposit
    Cons
    • The lack of a swap free account
    • Few deposit methods available
    • The absence of a zero spread account

    CMC Markets Review
    Trading

    Trading on CMC Markets is simple and intuitive for both beginners and experienced traders. For all levels of financial knowledge it is important to understand the broker’s trading features. Let’s see what CMC has to offer.

    CMC Markets

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    Trading Features

    Here is a closer look at the range of trading features you can expect to find at the broker. This includes a closer look at execution styles, accepted trading techniques, the minimum order size, and more.

    Executions

    CMC Markets is a DMA broker. The acronym means “direct market access”. Just as the name might imply, you may trade directly in the market accessing their prices without using an intermediary such as a dealing desk.

    CMC Markets will ensure all their users the best prices available.

    Sizing

    CMC Markets has a minimum trade size of 1 micro lot, in other words 0.01 standard lots. This is for forex trading and it implies that you may open positions as low as $1,000, not including leverage. If you decide to add leverage, the amount will be minimized.

    Techniques

    CMC Markets does allow scalping and hedging, and as mentioned before, spread betting is only accessible for those who have an account within the UK entity. CMC Markets does not allow algorithmic trading and the use of VPS is prohibited in the platform.

    Risk Management

    CMC Markets is well aware of the importance of risk management for their clients, and for this reason they offer five different tools.

    First, the company has both stop losses and take profits, tools that will insure you against losses and secure gains. Both support guaranteed stop, so you can pre-select your loss price, available for small mark-ups.

    The third tool would be limit orders. This way you may ask CMC Markets to buy or sell when the asset you are interested in reaches a specific price.

    CMC offers trailing stops as a way to safeguard your profits. You may set your loss limit at a certain percentage according to the asset you are holding. This way, if the price goes up, so does the stop-loss price.

    The fifth and last risk management available are margin calls. With this, you will be warned if your equity falls below a fixed level.

    Leverage

    CMC Markets offers up to a 500:1 leverage, but it will solely depend on the regulation area you are at, and by all means according to the asset. The maximum leverage on forex major pairs are as following:

    • For the EU and UK there is a maximum leverage of 30:1.
    • Australian based traders have a top leverage of 500:1
    • For Canadian customers there is a leverage of up to 100:1.
    • Singaporean clients are offered 20:1 as maximum leverage.
    • A maximum leverage of 500:1 is also available for CMC Markets Professional Account. If you have any doubts about this account you may check the account section above.

    Platforms & Mobile

    Platforms either on desktop or on mobiles for trading on the go, are essential when choosing a broker, and risking your funds. Let’s see what CMC Markets offers.

    Charting and Trading tools

    Charting and trading tools are provided on every single platform. The company has 81 chart indicators, and 24 drawing tools. On top of that, you may carry out one click trading and set orders directly from the chart. Price alerts are also available.

    MetaTrader 4

    MetaTrader 4 or MT4 is one of the best trading platforms in the world. This powerful trading platform has over 50 indicators and charting tools. It works with high quality encrypted communications methods between you and the servers.

    You may use this platform on your phone, tablet or computer desktops, but not through webtrader. It works on Windows, androids, and iOS systems such as apple phones, tablets or macs.

    CMC Markets CFD Next Generation Platform (Proprietary)

    The CFD Next Generation Platform, available as a webtrader, is a proprietary platform offered by the broker which is known to be very user-friendly, and intuitive alongside providing you with a wide range of tools and features for a comprehensive trading experience.

    This trading platform has all the MetaTrader features that were mentioned above, but it visually improved, and with improved ease of navigation. It works with fast execution, and also provides for a capability to manage your account including making deposits and withdrawals. If you have further questions on deposits and withdrawals, please look for the section above.

    CMC Markets Stockbroking Platform (Proprietary)

    CMC Markets Stockbroking Platform is another proprietary trading platform with a number of order types available. It only works as a webtrader, a web interface. You may deposit and withdraw.

    This platform offers a news section where you can monitor the stock market. Also, note that even though CMC Markets Stockbroking Platform is free, it has the option to pay a $49 monthly subscription in order to access additional features.

    CMC Markets Mobile Platform

    CMC offers a light mobile platform that can be downloaded on smartphones and tablets, that are either android or iOS systems. You may read news and alerts directly from the platform.

    You may customize your layout to suit your needs and goals. It makes the platform even more user friendly and intuitive for traders.

    Markets

    Although CMC Markets offers over 10,000 assets, not all of them are available worldwide. This is because some of the assets may not be within some of the areas or regulations CMC Markets is under.

    Forex

    For the foreign exchange markets, CMC has over 330 currency pairs, including forex futures. All spreads begin from at least 0.3 pips. There are major, minor and emerging forex pairs on CMC Markets.

    Commodities

    There are a total of more than 110 commodities, both hard such as gold, and soft commodities such as agricultural wheat, corn, coffee, sugar and soybeans. Energies are also included in this category.

    Indices

    CMC Markets offers not only US, EU and AU indices, it actually has over 30, including Canada, India, Singapore, Taiwan and more.

    The spreads begin at 0.9 pips, and there are no requotes or swaps charged.

    Stocks

    There are over 4,900 stocks from 29 different stock exchanges around the world, including shares from US, UK, EU and more.

    Bonds

    For bonds, CMC Markets has 50 treasuries with bonds from countries like US, EU, Japan, and more.

    Cryptoassets

    There are a total of 5 cryptocurrencies available for trading: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP).

    Countdowns

    This is a spread betting concept that has over 20 instruments for short term assets. As the company’s website states, there are “competitive payouts of up to 90%”.

    You have a timeframe of 30 seconds to decide if you will bet on the ascent or descent of a settlement price. Once you pick the asset and the amount you would like to invest, you may earn or lose funds depending on the price movement.

    Products

    CMC Markets $200 Welcome Bonus Offer

    CMC Markets offers an attractive AUD $200 Welcome Bonus to use when trading. It is not necessary to make a deposit in order to activate the bonus. You have 30 days to use it before it expires.

    You may not withdraw the AUD $200, but you may do so with any profit you make trading it. If you would like to know more about this promotion, please read the terms and conditions.

    CMC Markets Active Trader Program

    The CMC Markets Active Trader Program offers three different tiers: classic, active investor and premium trader. In the active trader program, you will have lower trading fees.

    Additionally, you may acquire certain benefits regarding the trading platform features and additional services, such as:

    • Free access to the premium stockbroking platform.
    • A free stock screener to filter your equities.
    • Help with tax reports.

    Social Trading – Copy Trading

    CMC Markets does not offer social or copy trading features at the moment. Alongside that, although many brokers might grant their clients the use of trading robots to help determine a decision in MT4 (MetaTrader 4), CMC will not. Trading robots or any feature that tries to duplicate trading positions are not permitted.

    Pros
    • Good variety of trading platforms
    • A considerable amount of available assets
    • No deposit is needed to get the bonus
    • An active trader program with special benefits
    • A guaranteed stop loss tool for risk management
    Cons
    • No forex nano lot trading
    • No algorithmic trading allowed
    • No copy trading available
    • No social trading features

    CMC Markets Review
    Education and Support

    Support and education are not only critical for new traders. It is a must because it is another form of constant support for this risky but profitable industry.

    CMC Markets

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    Languages

    Even though CMC Markets is an international broker, it does not offer a vast variety of languages. It has a total of 10 different languages including English, Spanish, Chinese, French, German, and a few others available.

    Research

    CMC Market has an expert analysis team which includes 5 market analysts with different specialities from around the world including experts in the Asia-Pacific region, some focusing on derivative products, others in market analysis, and more.

    CMC also offers daily morning news and updates about the market and its movements. Upon that, there is a customisable economic calendar to mark special dates or events that may cause a rise or fall on a certain asset. It is thought to help make trading decisions.

    Customer Service

    Customer service at CMC Markets can be contacted in a variety of ways. You may also choose CMC Markets’ live chat, email or phone calls that include over 10 different phone numbers. This makes them very accessible and they typically provide you with a fast and professional answer to your question.

    Education

    A very important aspect on this broker platform is their educational section. In this category they have webinars, training on technical indicators, and platform and trading tutorials. They also offer a range of training opportunities if you are interested in shares, crypto, and getting to know more about CFDs.

    CMC also has a trading glossary available on their site. You may also visit or subscribe to their Youtube channel and find even more educational trading videos.

    Pros
    • They have an excellent educational section on their website and YouTube
    • They offer good customer service
    • An acceptable research section
    Cons
    • They could improve the number of languages available for their clients around the world

    CMC Markets Review
    Our Opinion

    After completing a comprehensive CMC Markets review, our overall opinion is that CMC Markets is one of the most trustworthy brokers in the industry, having around 180 awards to prove that.

    The company’s 30 years experience, having been active since 1989, have made this platform intuitive for both beginners, experienced, and active traders. CMC is supervised by top tier regulatory bodies such as MAS from Singapore and IIROC in Canada, making it one of the few forex brokers that are regulated in Canada.

    It is also important to highlight that CMC asks for no minimum deposits. They offer good enough value on spreads, security, an excellent number of assets, and of course their services, both CFDs and Stockbroking.

    On the other hand, this company does not offer a zero spread forex account, but does maintain the available spreads low. Another downside is that it does not have Islamic accounts for traders who would like to be sharia compliant.

    Another inconvenience for some might be that CMC Markets does not offer social trading or copy trading features at all. This may take away a certain number of traders focused on these areas. Still though, the broker remains a major player in the industry, and for very good reason, a popular and positive choice for many trading forex and others markets.

    CMC Markets Pros and Cons

    It is important to pay attention to this broker´s advantages and disadvantages to see if they meet your needs as a trader. Please read the following summary of pros and cons.

    Pros

    • CMC is an international broker with more than 10 offices around the globe.
    • This broker has over 30 years of experience.
    • The company is highly regulated and compliant.
    • CMC Markets has been granted over 180 awards in total.
    • They have an important number of account types for you to choose.
    • There are low costs and commissions on this broker.
    • You may choose from a wide variety of trading platforms.
    • There are over 10.000 assets available for traders.
    • The platform has a great educational section on their website and YouTube.
    • No minimum deposits.
    • A user friendly and intuitive platform.
    • A good broker for beginners and experienced traders.

    Cons

    • CMC does not have a swap free account.
    • There is no zero spread account.
    • There are no copy nor social trading features available, even though it might be common in other brokers.
    • There is a limited variety of deposit methods.
    • Customers from the United States are not allowed.

    CMC Markets FAQs

    Is CMC Markets regulated?

    Yes, CMC is regulated by several regulatory bodies such as the following: FCA (173730), MAS (200605050E), ASIC (238054), IIROC (12570), FMA (FSP41187). For more information, check the CMC Markets Regulation section on our CMC Markets Review.

    What is the minimum deposit for CMC Markets?

    The CMC Markets trading platform does not require minimum deposits.

    How long does it take to withdraw from CMC Markets?

    Withdrawals will vary and take from 1 to 3 days. The fastest withdrawal method would be via credit card. For more information check our CMC Markets Review.

    Is CMC Markets a MT4 broker?

    Yes, CMC Markets offers MetaTrader 4, CMC Markets CFD platforms and CMC Markets Stockbroking platform.

    Does CMC Markets accept PayPal?

    Yes, CMC Markets welcomes PayPal customers for both deposits and withdrawals.


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