CMC Markets Verified Reviews from Actual Traders

While customers can utilize the platform’s trading journal, they are unable to drill deeper into trading activity. Several other platforms offer better portfolio analysis features than CMC does. The spread, or difference between the buy and sell price, is the overriding fee charged on each instrument traded. Your cash positions may also be subject to overnight holding costs at the end of the trading day, which can be either positive or negative. This CMC Markets app review yields a robust product on par with the web and desktop trading platforms.

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As was the case with other industry leaders like Pepperstone, CMC Markets did not receive the top mark here, because it does not offer customer support service over the weekend. CMC Markets will not charge any additional fees on withdrawals, in case the latter are made via local bank transfers, credit or debit cards, and PayPal. If you hold a currency position overnight, you will incur an overnight financing charge, or swap rate. This charge is determined by the overnight interest rate differential between the two currencies included in the respective pair and whether you are holding a long or short position.

Since CMC Markets is a publicly-traded brokerage company, listed on the London Stock Exchange, it is obligated to report its financial results on a regular basis. We should also mention some of the awards CMC Markets has earned for the exceptional quality of its customer support service. Sixth, you will be able to use advanced order options for better management of trade entry, exit, and risk exposure. Those options include boundary orders, trailing stops, price ladders, and guaranteed stop-loss orders, among others.

How We Chose the Best Brokers for Forex Trading

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.

To view certain CFD share pricing (Australia, Hong Kong) you will need to take cmc markets review out a subscription. The fee for the Australia subscription is 20AUD (or equivalent) monthly. The fee for the Hong Kong subscription is 120HKD (or equivalent) monthly. If the account balance on the dormant account is zero no fee will be assessed. But accounts reactivated after a period of zero balance dormancy for three consecutive months will then be assessed a 30GBP (or equivalent) fee for reactivation.

Inactivity Fee

• 71% of retail investor accounts lose money when trading CFDs with this provider.
• Click here for a full list of our partners and an in-depth explanation on how we get paid.
• Meta Trader4 has also won an award from the Investment Trends 2019.
• The award was for both email support and phone support in the UK and reflected user satisfaction with forex, spread betting and FX trading support.

The brokerage accepts deposits made in 10 different base account currencies, including GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, and SGD. In case you wish to open a spread betting account (only for residents of the UK and Ireland), you can deposit funds in two base currencies only, GBP and EUR. Founded by Peter Cruddas in 1989, CMC Markets (short for Currency Management Corporation) is currently one of the leading global providers of online CFD trading and spread betting. The brokerage has offices in London, Vienna, Madrid, Frankfurt, Oslo, Beijing, Shanghai, Warsaw, Toronto, Sydney, Auckland, Dubai, and Singapore, serving more than 1.5 million clients from 70 countries. Forex traders will not be disappointed with CMC’s screener, which covers 330-plus available currency pairs and even indices.

Range of investments

If you live in the U.K., check out the review of CMC Invest at our sister site, UK.StockBrokers.com. CMC Invest is available via mobile on a stand-alone basis with commission-free trading across all account types. Most notably, the trading platform allows you to develop, optimize and backtest automated trading strategies using the MQL4 programming language. On the other hand, the lack of CFTC regulation means that CMC Markets cannot provide online trading services to clients based in the United States. Investors can trade competitively priced CFDs on forex, indices, shares, ETFs, commodities, and fixed income. The company offers top-level encryption, two-factor authentication, and the highest privacy standards.

CMC Markets stands out as a highly reputable and powerful online broker, particularly for CFD and forex trading. Its proprietary Next Generation platform is a true highlight, offering an exceptional suite of advanced tools, charting capabilities, and research resources that cater to active traders. In terms of spreads, CMC Markets compares well with other brokers using the market-maker pricing model. While CMC Markets offers both fixed and variable spreads depending on the instrument, forex pairs specifically have variable spreads.

Trading Instruments

While CMC Markets offers a $0 minimum deposit and a free demo account, its advanced Next Generation platform might have a learning curve for absolute beginners. However, their extensive educational resources can help new traders get up to speed. If you are an active trader, particularly in forex and CFDs, and prioritize advanced tools, in-depth research, and robust platform performance, CMC Markets is undoubtedly one of the best options available. We highly recommend exploring their Next Generation platform and utilizing their free demo account to experience their offerings firsthand. I opened a live account, placed real trades on both the Next Generation platform and MT4, explored its mobile app, and closely examined spreads, execution speed, and available markets. This review is based on firsthand experience—not just specs and marketing claims—so if you’re considering CMC Markets this year, here’s what you need to know.

It’s important to note that CMC Markets charges an inactivity fee. This monthly charge of $15 (or the equivalent in another account currency) is levied on a client’s trading account if there is no Forex market activity for 12 months. The fee is charged monthly until the client begins trading, closes the trading account, or the account balance runs out. One of the advantages of working with CMC Markets is the absence of minimum deposit requirements.

• It provides a safe space to apply what you learn without risking real capital.
• FSCS is an independent body that offers protection to customers of financial services firms that have failed.
• But the broker seems reliable, although there are some disadvantages.
• The brokerage has offices in London, Vienna, Madrid, Frankfurt, Oslo, Beijing, Shanghai, Warsaw, Toronto, Sydney, Auckland, Dubai, and Singapore, serving more than 1.5 million clients from 70 countries.
• With 35 years to hone the CMC Markets platform, the company has created a superb user experience across mobile, desktop, and web-based platforms.

Whether this pattern entirely unfolds remains to be seen, but there is supporting evidence… You can group together different modules so that whenever you change the product in one module, all other grouped modules will be automatically updated to display that new product. CMC Markets does not offer MAM/PAMM solutions to accommodate money managers. We should also note that CMC Markets will conduct a suitability test, asking you to provide information about your employment, income, trading knowledge, and experience. The company holds highly regarded regulatory licenses relevant for the U.K., Australia, Singapore, New Zealand, and Germany. CMC Markets is regulated by the FCA which, along with U.S. regulatory agencies (NFA and CFTC), is widely considered to be the preeminent regulatory body.

Is CMC Markets an ECN broker?

With CMC Markets, you will be granted access to both in-house and third-party trading platforms. The broker’s offering of third-party trading software is quite solid, encompassing MT4 and TradingView, although platform availability varies based on country. Let’s start by examining closely the proprietary Next Generation platform.

Their educational content is robust, designed to help traders of all levels enhance their skills. It offers a seamless user experience consistent with the web-based platform. The look & feel is intuitive and sleek, making it easy to navigate even on smaller screens. CMC Markets understands the importance of mobile accessibility for traders. Their mobile trading apps, available for both iOS and Android, extend the robust capabilities of the Next Generation platform to your fingertips.

CMC Markets has been voted the Best Broker for Charting, based on highest user satisfaction among spread bettors, CFD and FX traders in the Investment Trends 2017 UK Leverage Trading Report. Our commitment to providing unbiased, comprehensive reviews of forex brokers is rooted in extensive research and expert analysis. We evaluated 18 forex brokers based on rigorous criteria, focusing on key aspects such as regulatory oversight, costs, trading experience, and available offerings. Our methodology ensures that our recommendations are based on reliable data and a thorough understanding of the industry. CMC provides a seamless user experience across its mobile app, web-based CMC NextGeneration Platform, or the MetaTrader 4 platform. Usability across all platforms, including mobile, is consistent with access to a range of forex pairs, indices, commodities, shares, ETFs, and more.

The fee is deducted from your available account balance each month. CMC Markets does not charge any deposit fees, which is a fairly standard practice among international brokers. We should note that CMC Markets does not accept clients based in certain countries, including Japan, Brazil, Belgium, Argentina, South Africa, and the United States. Check the broker’s terms and conditions for the full list of restricted jurisdictions.