CMC Markets Review 2020

CMC Markets belongs to the high ranked forex brokers globally. It is famous for its online financial services. This CMC markets review guides about their services, products, researches, and many other aspects of this company.

cmc markets review
4.6/5
78% of retail CFD accounts lose money
 

Short Summary

Minimum Deposit

0 $

Assets

CFDs, Spread betting, Forex, Cryptos, Commodities, Stocks, Treasuries, Custom indices

Demo Account

Yes

Islamic Accounts

No

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Before trading with CMC Markets, you must be aware of the positive side and negatives of this firm.

Pros
  • A variety of instruments
  • Real-time news
  • Low forex fees
  • Excellent web & mobile Trading Platform
  • Great Researches
Cons
  • Account opening is not easy
  • High stock fees
  • Social trading is not allowed
  • No MT5 integration
  • Don’t offer bonuses even on an average basis

Introduction

78% of retail CFD accounts lose money
 

CMC Market is the short form of “Currency Management Corporation”. This CMC markets review discloses its background and history. Have a look at it.

Year Founded

  • CMC Markets founded in 1989.
  • In 1996, it introduced a trading platform to deal with FX.
  • It started trading in CFDs in the year 2000.
  • In 2001, it introduced spread betting.

Owner

Peter Cruddas is the owner of CMC  markets. He is a successful English banker and businessman. His consistency of hard work has made CMC Markets a brand.

Headquarters

CMC Markets has a head office in London. Other offices are in

  • Frankfurt
  • Sydney
  • Singapore
  • Toronto

Choosing clients

While looking at CMC Markets review, first you need to clear if you are eligible to work with them. This firm chose clients from specific countries. Many countries are unable to trade with this broker.

Acceptable Clients

CMC Markets only accepts traders from Canada, Denmark, France, Germany, Italy, Norway, Poland, Sweden, Spain, and the United Kingdom.

Not Acceptable

Residents of the USA cannot work with CMC Markets. Many Asian countries like Pakistan and India also not qualify to work with them.

Regulation

78% of retail CFD accounts lose money

“Prevention is better than cure” is a famous saying. This is applicable in while choosing a forex broker. It is important to check for the registration of the company. Before you invest in CMC Market, you should be aware of its regulation.

  • The Financial Conduct Authority (FCA) regulates CMC Markets by registration number of 173730. Moreover, the following authorities regarding their countries regulate it.
  • Investment Industry Regulatory Organization of Canada (IIROC), Canada.
  • Australian Securities and Investment Commission (ASIC), Australia.
  • Financial Markets Authority (FMA), New Zealand.
  • Monetary Authority of Singapore (MAS), Singapore.

Some facts regarding the regulation of CMC Markets.

  1. This firm does not hold any banking license.
  2. Most of the clients are a part of a top-tier financial authority
  3. It is listed on London Stock Exchange also.
  4. They also provide negative balance protection.

Safety

CMC Markets also works for the safety of their investor fund. Let’s see how it works.

  • According to the rules of the Financial Conduct Authority of the UK, brokerage houses have to put their money and net worth in segregated accounts. So in case of bankruptcy, they will be able to return the amount of the clients. CMC Markets follows this rule.
  • CMC Markets provides negative balance protection for UK and European clients. Negative balance protection.
  • For residents of the Uk and Europeans, the amount for the protection fund is £85,000.
  • For the residents of Canada, this amount is 1,000,000 CAD.

Overall this company sounds safe and secure. Going through different portfolios regarding CMC Markets review, people found them a trusted and quality broker.

Assets

CMC Markets provide an extensive catalog of products to trade. They don’t offer in futures and forex options. They offer CFDs, Forex, Cryptos as CFDs, Commodities, Stocks, and even Treasuries.

This table might help you to understand better about their range of assets.

Bond CFDs
56
Commodity CFDs
135+
Cryptos
15
Currency pairs
330+
ETF CFDs
990+
Stock CFDs
8500+
Stock index CFDs
90+
Treasuries
50+

Fees and Margins

78% of retail CFD accounts lose money

CMC market does not deduct high fee as commission and other charges. Even their non-trading fee is very low.

  • Low fee of forex trading
  • No charges on Withdrawals
  • High Stocks USD fee
  • Low Inactivity fee
  • The initial minimum deposit is negligible.

Trading Fee

Assets Spread Margins
Forex
0.7
3.3%
Indices
0.3
5%
Cryptocurrencies
1.4
50%
Commodities
0.3
5%
Stocks
0.10
20%
ETF’s
0.10
20%
Treasuries
1
20%
  • Their average spreads are 0.7 to 0.8 pips.
  • Average margins are 3.34 percent of the actual amount.
  • Leverages start from 30:1 and approximately near to this amount. It may be variable as the product varies.

Non-Trading Fee

  • Non-Trading fee is generally the fee on deposit and withdrawal. CMC Markets takes care of their client by not deducting any kind of fee on withdrawal.
  • The inactivity fee is very low of CMC Markets. This fee is applicable after one year of inactivity. This fee is £10. If you do not trade consistently for the 12 months you have to pay this monthly then.

Account Opening

78% of retail CFD accounts lose money

Some facts regarding opening accounts at CMC Markets are as follows.

  • No minimum deposit. You can open it for free.
  • Account opening is completely digital.
  • Besides these qualities, the account opening is pretty complex in CMC Markets.

CMC offers two types of accounts which we will discuss further. Now see how you can open an account in CMC Markets.

  • First of all, select your residential country.
  • Submit your email and password.
  • CMC will send you a reference code by which you can further proceed.
  • Then you have to choose your account type.
  • You have to provide documents for verification of your identity and residency. You can use your pictures of your id card, driving license or passport to show identity. For residency, you can share detail and pictures of your bank statement, electricity or utility bill, and credit card detail.
  • This verification might take 2 days. And you can use a demo account from this company.
  • After all this verification you can fund your account according to your strategy.

Types of Accounts

78% of retail CFD accounts lose money

As mentioned earlier, CMC Markets offer two types of accounts.

  • CFD
  • Spread betting

But every person cannot run this account. Let us explain to you how it works and their conditions.

What is CFD Account?

First of all, you should know what CFD is. ​Contracts for difference (CFDs) are a derivative product that enables you to trade on the price movement of underlying financial assets (such as indices, shares, and commodities).

  • for CFD’s. CFD accounts are available all over the countries wherever this firm is working.
  • The account base currencies involved in it are GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD.
  • Capital Gain Tax (CGT) is applicable while using this type of account.
  • This account also provides you the facility of joint accounts.
  • Pricing is done by deducting regarding spreads and commission at a share of CFD.
  • Corporate accounts are also available.

What is a spread betting account?

It is a strategy or in slang language it is gambling. In which a trader bets on the future price of the product.

  • This account is only available in the United Kingdom and Ireland.
  • The currency it involves is only GBP and EUR.
  • It is not allowed in corporate accounts.
  • Pricing is done at spreads only.
  • A joint account is also allowed.
  • Capital Gain Tax (CGT) is not applicable while you are running for a spread betting account.

Deposits & Withdrawals

78% of retail CFD accounts lose money

CMC Markets offers you the easiest way of depositing your money.

  • You can open your account without any fee.
  • Deposit can be done by using Bank wires.
  • Master Cards, Visa Debit and Credit Cards are also acceptable.
  • The facility of depositing funds with the help of an electronic wallet is also available.

While you go for withdrawal, it is charge-free. But there is a complication in it.

  • You have to pay 15 Euros if you made an international Bank Transfer more than one time for a day.
  • Withdrawal is quite a slow process.

You have to follow these steps to withdraw your money from your card.

  • Go to CMC’s web trading platform
  • On the left sidebar
  • Click ‘Funding’ option
  • Click on ‘Withdraw’
  • Choose the method for withdrawal
  • Add your desired amount
  • Now confirm the process

Account Base Currencies

If you use any base currency like GBP and you also trade in this asset, you don’t have to pay any conversion fee. But if you trade in GBP and your account base currency is USD then you have to pay a conversion fee. This is the same while doing withdraw. There are ten account base currencies are available at CMC Markets.

  • Australian Dollar
  • British Pound
  • Canadian Dollar
  • Euro
  • New-Zealand Dollar
  • Norwegian Krone
  • Polish Zloty
  • Singapore Dollar
  • Swedish Krona
  • United States Dollar

Trading Platform

78% of retail CFD accounts lose money

CMC Markets offers mobile, desktop, and web trading platform. The trading platforms designed by their own company also works very well. Their trading platforms have a good contribution to a good CMC Markets review.

Web Trading platform

CMC Markets offers two trading platforms. These are

  • MetaTrader4
  • CMC’s Next Generation, CMC Markets’ trading platform

Features of CMC Next Generation

  • CMC Next Generation has a single step verification login. This not considered as a safe login.
  • It has great customization.
  • This platform has a clear fee report. Due to this, it keeps a good record of trading history, withdrawals, profits and commissions.
  • It is well -designed.
  • Research reports are also up to date with advanced tools in it.
  • Search functions also performs very well.
  • This platform is user friendly and easy to use.
  • It is available in 9 languages.
  • Chinese
  • English
  • French
  • German
  • Italian
  • Norwegian
  • Polish
  • Spanish
  • Swedish

Placing orders

You can place an order in many ways.

  • Market
  • Limit
  • Stop
  • Trailing Stop-loss
  • Guaranteed Stop-loss
  • Good till time
  • Good till canceled
  • You can also set price alerts and notifications.

Mobile Trading platform

CMC Next Generation and MT4 both are available on mobile. Both are working efficiently on the mobile phone. CMC has the same features on mobile as it is on the web. It is available on iOS and android. It is also user friendly with great design and customization on it. You can also set stop loss, limits, good till the time, and even guaranteed stop loss on mobile phones. But you can set multiple alerts and notifications on your mobile platform.

Desktop Trading platform

Both these software are also available as desktop platforms. But CMC Next Generation is poor in design with not good functions on the web. A short comparison will help you get this point better.

Ratings of CMC Next Generation

Web Trading Platform – Excellent

Mobile Trading Platform – Excellent

Desktop Trading Platform – Average

That’s why people refer to use MetaTrader4 while using a desktop trading platform because of this vastness of languages in it. Good design and friendly systems.

Auto Trading

CMC Markets facilitates its customers by Auto-trading. MetaTrader4 is generally used for Auto trading while working with CMC Markets.

Research

78% of retail CFD accounts lose money

CMC Markets review about their research is very satisfactory. The reason for this excellent review is the

  • Multiple trading ideas and strategies by the experts.
  • Charting is very good and most of the time it is accurate.
  • Fundamental data is available on every asset. By which anyone can seek assistance.
  • The economic calendar is designed in such a way that it alarms the trader about any news and any special events.
  • Research reports have no comparison.
  • CMC also provides news regarding the latest political breakings and conflicts. This news is brought to the customers by Reuters and CMC.
  • CMC has various forums regarding analysis and research of the market. For example, IG TV and CMC Blog. They provide important education regarding technical any fundamental analysis of the market.

Education

78% of retail CFD accounts lose money

CMC Markets prefers to educate their traders. They educate their traders by

  • Web Channels e.g CMC TV
  • Various Articles and blogs
  • Webinars
  • Educational videos on Social Media Channels
  • Trading tutorial videos

Moreover, they also provide a demo account to practice the skills of the trader. For the beginners, CMC Markets is fruitful in this way. Because they work hard to train their clients. Their articles are also easy to understand.

Promos

CMC Markets review about promos and offering different bonuses is not too impressive. They rarely offer a promo or a bonus deal.

Customer Services

78% of retail CFD accounts lose money

CMC Market review regarding their customer services are good.

  • CMC Markets have a good customer service department.
  • You can contact them through phone, chat, and email.
  • There is a live chat session in which you can ask about your queries.
  • Phone support is also very responsive.
  • Their social media accounts are always updated.
  • But this firm does not have a 24/7 service. Although it works for the 5 hours from Monday to Friday with great responsibility.
  • Customer services are available in 9 languages.

CMC Markets Review

78% of retail CFD accounts lose money

This broker is reputable. It is listed in one of the top forex brokers of the world. Due to their services, This firm is awarded several times. In conclusion, CMC Markets review shows that people like to work with them. Almost 90,000 people are working with them globally.

Forexscams.com provides essentials information regarding forex broker. For more broker reviews visit our website. Tell us about this CMC Markets review.

Feel free to contact us in any query