CMC Markets Review 2023: Pros, Cons, Account Types, Spreads, and Fees

Is it worth it to conduct trade through CMC Markets? Today we analyze the company’s unique features, pros, and cons, account type, educational resources, and fees.
10:36 AM, Apr 28, 2023
10:36 AM, Apr 28, 2023

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With a wide range of over 12,000 tradable instruments and competitive pricing, CMC Markets has gained a strong reputation worldwide for its reliable trading services, catering to both experienced investors and novice traders. 

The trading platform offered by CMC Markets called Next Generation, is equipped with advanced trading tools and comprehensive research capabilities. 

In 2023, CMC Markets was recognized as the leader in 11 categories, demonstrating its commitment to providing exceptional trading experiences to its users.

CMC Markets Review: Pros 

  • 30+ years оld business with significant experience in the industry. 
  • There is no minimum deposit needed.
  • Free, unlimited trial account availability.
  • You have access to over 11,000 trading options to select from.
  • Very flexible options for both mobile and desktop use.

CMC Markets Review: Cons

  • Uncertain and largely changing fee structure.
  • There is no in-app client service.
  • Share trading not available in all regions. 

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CMC Markets Review: What Are CMC Markets?

CMC Markets was founded in 1989 as a platform for online trading of Forex and CFD services. It currently provides over 10,000 trading instruments in its asset portfolio, which includes stocks, commodities, indexes, and bonds. 

The broker is highly regarded and is a member of the FTSE smallcap index and is listed on the London stock exchange. It operates under top-tier regulatory authorities' supervision and caters to retail traders and institutional clients, including brokers, banks, trading desks, and hedge funds. 

Our assessment of online brokers has identified CMC Markets as a reliable option, with the added advantage of in-person assistance.

CMC traders are protected by the UK-based Financial Services Compensation Scheme (FSCS), which provides compensation of up to £85,000 or equivalent per individual or up to £170,000 or equivalent per joint account. 

This broker is highly regarded worldwide, and it caters to the needs of active traders by offering a wide range of tradable assets, competitive pricing, and an advanced trading platform called CMC's Pty Ltd platform. 

This platform includes top-quality research, powerful charting, and innovative trading tools designed to target international markets. Furthermore, CMC also offers liquidity rebates for active traders starting at 5%.

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CMC Markets Review: Features of CMC Markets

CMC Markets is a reputable and established stockbroker renowned for its competitive CFD trading and spread betting solutions

It is regulated in the UK and listed on the prestigious London stock exchange. With a wide range of tradable assets available on both web and mobile platforms, CMC Markets offers many resources, making it a top choice for traders in the UK and one of thebest forex trading mobile platforms.

Furthermore, new trading accounts often experience losses. However, CMC Markets allows for access to domestic and international shares with zero brokerage fees in Japan, the US, the UK, and Canada. Furthermore, Aussie shares can be purchased for up to $1000 with zero brokerage fees.

The commission and fees charged by CMC Markets vary depending on the type of bank account holder and the specific asset class the trader selects. 

CMC Markets is considered one of the top forex brokers in terms of competitive fees. One of the benefits of using this platform is the negative balance protection, which helps clients feel more secure in volatile market conditions. 

Our CMC Markets review which dived into their investment account found that retail traders can access high-quality educational resources created by experienced professionals. CMC Markets offers three tiers of services: active investor, classic, and premium.

According to our assessment of CMC Markets (a forex broker), they offer a wide variety of assets with well-diversified portfolios and low trading costs. They cater to traders of all experience levels, including institutional clients, and provide a comprehensive range of services to meet their trading needs. 

CMC Markets Stockbroking Limited enables you to trade a full range of investment products, including managed funds and shares. 

They maintain transparency in their operations by clearly listing all associated costs on their website. This is particularly useful for active traders who wish to buy or sell assets and need to know the applicable costs for various services.

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CMC Markets Review: Benefits

The advantages provided by the platform are as follows:

  • Protection by regulators - CMC Markets is subject to regulation by multiple governing bodies, and it is publicly traded on the UK stock exchange. 
  • Impressive overall performance - The platform has been honored with multiple accolades for its exceptional business performance. It is widely acknowledged as a top-rated resource for high-quality educational materials and unparalleled customer support. 
  • Lots of variety in financial instruments - Traders are offered access to over 10,000 secure financial instruments to execute trades on various assets, including forex, gold, forex pairs, Bitcoin, and other selected investment products.
  • Global financial network and services - According to a review of CMC Markets, their platform enables the trading of shares globally. It has garnered a significant client base from various regions, resulting in increased customer acquisition for its offered services.
  • No minimum deposit on certain trading types - For online share trading through this broker fee, there is no requirement for a minimum deposit.
  • Advanced trading instruments - CMC Markets provides extensive advanced trading instruments, such as chart forums, pattern recognition, analytical insights, price movements, and more. However, there are alternative choices available too.
  • Free and useful educational resources - CMC Markets provides a comprehensive education platform that includes a variety of resources such as webinars, courses, videos, written materials, and tutorials for trading.
  • Low costs - The CMC Markets platform offers affordable trading options with minimal costs, narrow spreads, and reduced leverage. Furthermore, the margin requirements are also set at a low level. 
  • Personalization and customization available - Traders can personalize their best forex trading desktop platforms and mobile platforms to suit their needs, including the option to assign star ratings based on their own preferences.
  • Demo training accounts available - The Invest account provides its users with a demo trading account, real-time data, and full functionality without any cost. Additionally, CMC markets offer live ASX data for free and a chat forum where traders can exchange shares and assist each other.

CMC Markets Review: Is CMC Markets Safe?

With a Trust Score of 99 out of 99, CMC Markets is widely regarded as a highly trusted company. 

It is publicly traded and not involved in banking activities. Furthermore, it has been authorized by five top-tier regulators, which indicates high levels of trustworthiness. One average-level regulator has also authorized it and has not been authorized by any low-level regulator.

To operate, CMC Markets is regulated by top-tier authorities such as;

  • The Australian Securities & Investment Commission (ASIC)
  • Investment Industry Regulatory Organization of Canada (IIROC)
  • Monetary Authority of Singapore (MAS)
  • Financial Markets Authority (FMA) of New Zealand,
  • Financial Conduct Authority (FCA). 

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CMC Markets Review: Where Does CMC Markets Operate?

CMC Markets has a global presence in more than 70 countries, spanning various continents such as Europe, Asia-Pacific, and Oceania. The company maintains its headquarters in London but operates in several other countries through its 12 offices. 

The broker's website is accessible in nine languages, including English, German, Swedish, Norwegian, Polish, Spanish, Italian, French, and Austrian, allowing it to cater to a wider audience. CMC Markets is overseen by several global financial regulatory bodies, ensuring compliance with international standards.

  • Finanzdienstleistungsaufsicht (BaFin) —CMC Markets Germany GmBH has been granted a license number 154814 by BaFin, which allows it to conduct business in Germany and a few other European nations. 
  • Financial Services Authority (FCA) — CMC Markets UK plc (173730) and CMC Spreadbet plc (170627) are under the regulation of the FCA. They are authorized to operate in various countries, including the UK, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, and Finland. 
  • Australian Securities & Investments Commission (ASIC) - In addition, CMC Markets Asia Pacific Pty Ltd, licensed under 238054 by ASIC, is legally permitted to operate in Australia and other Asia Pacific countries. Bundesanstalt für is also involved in regulating the company. 
  • Monetary Authority of Singapore (MAS) — CMC Markets Singapore Pte. Ltd. is regulated by MAS under the licensing number UEN 200605050E. 

The regulatory agencies ensure that CMC Markets keeps clients' funds safe by holding them in a separate and protected account from the company's commercial funds.

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CMC Markets Review: CMC Markets Account Types

According to the assessment of CMC Markets, this brokerage company provides a demo account and a live account with no minimum deposit requirement to its clients. 

Traders are given the option to choose their preferred trading platform. The MT4 platform is suitable for trading in commodities, forex, and indexes only. 

CMC's advanced platform must be selected for those interested in trading other assets. Additionally, CMC Markets has Pro accounts available for professional clients.

CMC's Premium traders have access to various account types, including Share Trading accounts, with the CMC invest account.

  • Business entity.
  • Contract for difference.
  • Money for spread betting.

Although the accounts mentioned above share many similarities, there are differences in other areas, such as share trading. While these accounts offer the same features, some instruments may vary depending on the type of trader's account.

Opening an account is simple and easy, and can be done on the CMC Markets website. Traders can follow a step-by-step process to quickly set up a live trading account and use the available trading platforms.

It is important to consider your objectives and financial situation before using this information service. Additionally, any secondary buy orders processed on a trading day are limited to a value of $1000 per stock.

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CMC Markets Review: Account Opening Process

The process of opening an account with CMC Markets is simple and fast, and the option to apply online is available through their website or mobile app. Once the account is opened, traders can choose to commence live trading or opt for demo trading. 

However, certain documents are needed to fulfill the KYC requirements of regulators. Although submitting these documents may take some time, it ensures the safety of all traders. Additionally, CMC Markets also provides the option of a joint account.

Step 1. Registration

To register, traders are required to visit the CMC Markets homepage and complete the registration form by providing basic personal details, including their full name, address, contact information, and date of birth. 

Additionally, traders may be asked to disclose their tax status, and in certain instances, the broker may request a national insurance number from the client.

Step 2. Financial Information

As requested by the broker, traders are required to disclose certain financial information related to their financial status. 

They must also mention their employment status, the industry experts they are associated with, their yearly earnings, and their experience in online securities trading. 

Additionally, they are expected to respond to a set of multiple-choice questions from CMC markets to assess their proficiency in trading. The traders will be asked about their familiarity with risk management and the utilization of leverage

Furthermore, it is important to comprehend the negative balance protection concept, ensuring that the account balance cannot fall below zero. Customers may also benefit from the extra protection of their assets through the use of the Financial Services Compensation Scheme.

Step 3. Verification Process

All Forex brokers operating in the UK, including CMC Markets, must comply with anti-money laundering regulations by verifying the identity of their customers. 

The brokers must adhere to the licensing terms set by the FCA and require traders to submit supporting documents manually. These documents should include a government-issued ID and proof of address.

Step 4. Depositing Funds

In case you are utilizing a demo account, there is no requirement to add money as the account already comes with virtual funds provided by the platform. 

This brokerage firm offers its clients the option to deposit or withdraw funds using bank transfers or debit/credit cards; no minimum amount is required for making deposits on the platform.

Step 5. Live Trading

Once the trader has deposited a minimum amount, they can start with actual trading. They can initiate live trading by accessing CMC Markets' website and logging into the user-friendly trading platform. 

There, they can easily locate the particular asset they are interested in by using the search function and narrowing down their search by asset class and instrument specification. Additionally, CMC Markets offers a customizable layout feature, which its users highly praise.

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CMC Markets Review: What Can You Trade With CMC Markets?

After a thorough evaluation, it has been determined that this particular broker provides access to over 10,000 modern trading instruments ranging through six different types of assets, including Forex, indices, cryptocurrencies, treasuries, shares, ETFs, and commodities. 

Both seasoned traders and novices find the broker's array of assets quite extensive, as CMC Markets is constantly broadening its selection. Additionally, exchange-traded options are available, and trading fees are associated with each trade. 

The broker's website lists all the trading assets and is user-friendly, making locating the asset you wish to trade simple. For further assistance, refer to our comparison tables to discover the online share trading option that meets your needs.

The Next-generation platform offers three fundamental order types that can aid in halting or closing trades. Despite the variety of products available, this platform is ideal for traders conducting frequent transactions.

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CMC Markets Review: Trading of CFD

According to the review of CMC Markets, it is a well-known and dominant platform that facilitates social trading of CFDs in various assets, including stocks, treasuries, commodities, cryptocurrencies, and more. 

Moreover, each instrument can use leverage and must comply with the retail trader regulations set by ESMA. Additionally, traders are allowed to sell their assets short on the platform.

CMC Markets Review: Spread Betting

According to our CMC Markets review, the platform offers a range of financial management instruments for investment, including spread betting. By using spread betting on chosen assets, traders can earn tax-free profits. 

It is important for traders to consult with a qualified tax expert to ensure this tax exemption applies to their country of residence. 

CMC Markets Review: Cryptocurrency CFD Trading

  • Various cryptocurrency pairs are available in the United States, including Ethereum, Bitcoin Cash, Neo, and Ripple, among others.
  • Due to the market's high volatility, the spreads for CFDs are broader than those for conventional currency pairs. To utilize CFDs, you may utilize CMC's advanced CFD trading platform.
  • The most in-demand asset class among CMC Markets' clients is cryptocurrency trading, which the company provides.
  • This particular broker does not provide the option for trading between different cryptocurrencies. However, they do offer a variety of pairs and attractive spreads.

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CMC Markets Review: Commissions & Fees

As stated in our CMC markets review, the 2023 Annual Awards recognized CMC Markets as the top performer in the Commissions and Fees category due to their ability to consistently offer low spreads to all types of customers and accounts. 

CMC Markets Review: CMC Markets Fees

According to our CMC Markets review, there are various fees you can expect from the platform. Before we clarify what you can expect in terms of regular payments to CMC Markets. 

  • It can be a challenging task to make a comparison between the trading fees of CFD brokers due to various factors such as overnight holding charges, live data feeds reflecting market dynamics, and swap rates. It is crucial to consider all these aspects while evaluating the cost-effectiveness of different brokers.
  • The broker imposes a monthly fee of £10 for inactive bank accounts, but active investors in higher tiers can enjoy access to live or dynamic data without any additional charges. 
  • The information presented is an average of 30 trades made each month, with a requirement of a minimum trade value of $1000 in all global markets. The initial purchase order executed on any trading day incurs no fees.
  • Commissions are applied, and FX pair spreads begin at 0.7 pips, making them highly competitive.
  • Equity trading incurs a starting fee of 0.10%, and additional trading expenses may apply. One example is the premium charged for a guaranteed stop-loss order, which is only reimbursed if the order fails to execute.

CMC Markets Review: CMC Markets Withdrawal Fees

  • Each broker enforces their own set of policies regarding the withdrawal of funds from trading accounts, which must be followed.
  • The platform provides different ways to withdraw funds and charges a fee for processing these transactions. The time it takes to process withdrawals may differ depending on the chosen method.
  • The fees for withdrawing or being inactive on CMC Markets depend on the method of withdrawal selected by the trader. 
  • Traders with CMC Markets accounts can withdraw their funds through a wire transfer to either a Payoneer account or a regular bank account.

The allowed methods for depositing and withdrawing have been approved and are in use.

  • BPAY
  • PayPal
  • Credit card
  • Bank transfer
  • Electronic Wallets
  • Debit card

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CMC Markets Review: Mobile Trading Apps

Our CMC Markets review shows that the mobile app offered by CMC Markets is well-designed and includes various research tools, charts, watchlists, news, educational content, and other features. 

Overall, CMC Markets provides an excellent mobile app experience. The CMC Markets mobile app has a similar appearance and user experience as the web-based Next Generation platform. The app's development required significant effort and attention to detail, particularly when presenting a large amount of information within a small screen space.

Here are a few criteria to keep in mind when it comes to the mobile app:

Ease of use: It should be noted that the web version of CMC Markets cannot automatically synchronize added indicators with the mobile version, unlike the offerings of major players in the industry such as Saxo Bank and TD Ameritrade. Nevertheless, watchlists can still be synchronized with the web version, and users can save indicator layouts as presets to use on other charts through CMC Markets' mobile app.

Charting: The mobile app of CMC Markets is equally impressive as its web version of the Next Generation platform in terms of charting. Although only 29 out of the total 86 technical indicators are accessible, it still stands out positively among the competitors of CMC Markets.

Market research: CMC Markets offers a variety of research materials through its in-house staff, including Intraday Update, Morning Call, Evening Call, and Price Mover categories, as well as other themes that can be accessed via the Next Generation mobile app. These research materials include educational content, webinars, CMC TV, and 23 videos that cover trading strategies. 

Economic calendar: Additionally, subscribe to an event in CMC Markets' economic calendar. You will receive an alert to let you know when the event or news release is approaching, which is a useful feature.

Other tools: The CMC Markets mobile app offers predefined watch lists useful for spotting potential trades. These lists consist of commonly traded products, prices experiencing significant changes, and currently popular categories. 

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CMC Markets Review: Other Trading Platforms

The trading platform called CMC Markets Next Generation is highly regarded by traders due to its exceptional features and tools that are both reliable and speedy. Even the most discerning traders are likely to be impressed by it.

  • Platform usability: The design of Next Generation is particularly impressive as it prioritizes both speed and user-friendliness. The platform provides a layout wizard that offers the option to select between floating or fixed windows and preset layouts or personalized configurations. Additionally, module linking is supported and includes five levels that are color-coded. This feature is beneficial as it saves time by automatically updating the instrument displayed on your chart when you click on the corresponding symbol in your watchlist.
  • Charting: The Next Generation platform has advanced charting capabilities, including 80 technical indicators and studies, 40 drawing tools, and 60 candlestick patterns that can be easily attached (or 73 if chart patterns are counted). The platform's charting features are notable for its Breakout and Emerging Patterns tools, which adjust automatically when the chart's time scale is changed. This allows traders to quickly scan through charts ranging from one-minute to monthly charts and identify any existing patterns with ease. 
  • MetaTrader: CMC Markets has expanded the number of forex pairs available on its MetaTrader platform from 38 to 176, resulting in 220 tradeable products. Despite not rivaling the 12,000 products offered on the CMC Markets Next Generation platform, the company has made several improvements to its MT4 offering in 2022 to enhance execution quality and align it with its proprietary platform.
  • Automated trading: The Next Generation platform of CMC Markets cannot execute automated trading strategies. However, the platform does offer advanced order types, including Boundary Order, which enables traders to establish deviation parameters and control slippage. 

For traders who desire an automated trading experience, CMC Markets provides the MT4 offering, which has a more restricted product range than the Next Generation platform.

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CMC Markets Review: Education Resources

Based on our evaluation of CMC Markets, we found that they provide a vast range of educational resources in both written and video formats

Additionally, they offer platform tutorials to their traders. CMC Markets' educational materials incorporate various tools and features. No information has been excluded in the paraphrased text.

  • Trading educational articles
  • Webinars
  • Demo account
  • General educational videos
  • Glossary
  • Tutorial videos

The educational materials provided by CMC Markets are presented in a user-friendly manner, incorporating concise videos and graphs to assist traders in comprehending intricate trading procedures. 

According to our CMC Markets review, a selection of these materials is based on the personal trading experiences of traders, while others cover topics that span from CFD basics to advanced trading strategies.

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CMC Markets Review: Market Research

Year after year, our CMC Markets review shows that it consistently receives our Best in Class recognition for its research services due to its wide range of superior in-house and third-party market research and analysis options.

  • Research overview: CMC Markets has a comprehensive research portfolio that includes various in-house content such as the Insights News module, CMC TV, a printed magazine produced bi-monthly, and the Opto Trading intelligence portal. Which offers published articles, podcasts, and a printed magazine every four months. Additionally, third-party content from Reuters and Morningstar is also available.
  • Video content: The main broadcasting service offered by brokers at CMC is CMC TV, which is similar to IG TV. This service creates high-caliber videos for market analysis. Although CMC Markets did not produce as much content on its main YouTube channel in 2021, the Opto CMC channel was found to produce excellent content regularly. This content includes interviews with experts in the industry and news videos from ETFTV throughout the week.
  • Market news and analysis: CMC Markets offers a News and Analysis section that contains written research articles from its team of analysts, in addition to Reuters news headlines. The section includes the Insight and Weekly Outlook series, which cover a wide range of markets and can be filtered by asset class. There are also daily market analysis articles available, which provide global market coverage. 

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CMC Markets Review: Frequently Asked Questions

Are CMC Markets Good for Traders?

CMC Markets is a reputable broker that has received high ratings in various categories, including being the best forex trading platforms.

They provide a diverse selection of tradable assets, and their platform is equipped with numerous features that cater to traders of all experience levels. 

CMC Markets is also known for its exceptional customer service, educational resources, and market research tools.

Is CMC Markets Platform Good for Beginners?

Our CMC Markets review shows that CMC Markets is a renowned online trading broker headquartered in London that provides its trading platform services to traders around the world. The broker offers two platforms: their own proprietary trading platform and MetaTrader 4. 

Additionally, CMC Markets has a competitive edge in terms of tighter spreads than its competitors. Moreover, the broker has a low minimum deposit requirement, which is advantageous for new traders.

How Long Does It Take To Withdraw Money From CMC Markets?

​​According to our CMC Markets review, withdrawals in CMC Markets may require up to 5 working days for processing. For local banks, the process can be completed in 1-2 working days, while international banks may take 3-5 working days. 

Who Owns This CMC Markets Platform?

In 1989, a man named Peter Cruddas founded a trading company called CMC Markets, which was originally called Currency Management Corporation before being renamed. The company is headquartered in London and serves traders from all over the world. 

Can You Trade Crypto on the CMC Markets Platform?

As stated in our CMC Markets review, by using a CFD account provided by CMC Markets, it is possible to engage in Bitcoin trading without actually possessing the cryptocurrency. This enables you to make predictions and invest based on Bitcoin's price fluctuations.

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CMC Markets Review: Final Thoughts

After thoroughly analyzing CMC Markets’ key performance metrics, it can be concluded that it is a reputed broker that is regulated by top regulatory authorities. 

It is considered one of the leading CFD and forex brokers that offer services globally. CMC Markets has several advantages, such as low forex fees, multiple research tools, trading platforms, and customer service. Although it has a few minor drawbacks, its service is very efficient.

Opening an account with CMC Markets is a hassle-free process, and it offers an extensive range of popular products that include forex, bonds, mutual funds, stocks, and more. Those excellent features come with no minimum deposit and a wide variety of educational resources you can learn from. 

>>Check the best price for CMC Markets

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