CMC Markets Review

By | May 6, 2021

About CMC Markets review: In this review of CMC we will discuss, what is CMC, account opening process, tools provided, fees and more.

What is CMC Markets?

CMC Market is a CFD and forex broker, which was founded in 1989. It is regulated by the UK’s FCA. It has a long operating history which makes it safe for the customers.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. 

CMC Markets

Account opening

Account opening at CMC is simple and fully digital. There is no minimum deposit required. But it usually takes a long time to verify your account, as it has a bit of a confusing registration process.

What is the minimum deposit at CMC Markets?

The required CMC Markets minimum deposit is $0. This will suit you if you want to start trading but has small money.

Account Types 

CMC Markets offer two types of account :

CFD Account Spread Betting Account 
Available inAll countries where CMC Markets operatesUK, Ireland
Account base currenciesGBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGDGBP, EUR
PricingSpread plus commission for stock CFDsSpreads only
Capital gain taxableYesNO
Joint account availableYesYes
Corporate account availableYesNo

In addition, you can open a Pro account that allows you higher leverage. To open a Pro account, you have to satisfy the following criteria:

  • Placed 10 trades in the previous quarter and these trades were relevant with significant size.
  • Your portfolio exceeds €500k.
  • You worked in the financial sector for at least one year.

Fees

CMC Markets fee snapshot 

Assets Fee Terms
S&P 500 CFDThe fees are built into the spread, 0.5 points is the average spread cost during peak trading hours.
Europe 50 CFDThe fees are built into the spread, 1.6 points is the average spread cost during peak trading hours.
EURUSDThe fees are built into the spread, 0.7 pips is the average spread cost during peak trading hours.
Inactivity fee£10 monthly fee after 12 months of inactivity
CMC markets

CFD Fees

CMC Markets CFD fees for a $2,000 long position held for one week

S&P 500 index CFD fee$1.5
Europe 50 index CFD fee$1.9
Apple CFD fee$21.5
Vodafone CFD fee$25.2

Forex Fees

CMC Markets forex benchmark fees of a $20,000 held for one week

EURUSD benchmark fee$8.0
GBPUSD benchmark fee$6.0
AUDUSD benchmark fee$7.1
EURCHF benchmark fee$8.2
EURGBP benchmark fee$9.0

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Trading Platform

Trading platform provided by CMC Market is highly customizable and has modern design. It is highly customizable and has good charting tools. CMC provides three types of trading platforms. 

  1. Web Trading Platform

You can choose between two web trading platforms:

  • ‘Next Generation’, CMC Markets’s own trading platform
  • MetaTrader 4, a third-party platform

Web trading platforms are available in 9 different languages. 

  1. Mobile Trading Platform

Its mobile trading platform is somewhere same as a web trading platform. They have similar kinds of search function and ordering function. Mobile app too has modern design and is customizable.

  1. Desktop Trading

CMC does not have its own desktop trading platform. For desktop trading, the client is left with MetaTrader4 as an option. Where. MetaTrader4 is far away from CMC in terms of web trading platform.

Products Offered 

CMC only focuses on trading in CFD and Forex. You can not trade other real time assets with CMC.

CMC Markets Product Portfolio

Currency pairs (#)338
Stock index CFDs (#)92
Stock CFDs (#)8000
ETF CFDs (#)1000
Commodity CFDs (#)136
Bond CFDs (#)56
Cryptos (#)15
CMC markets

Research and Education

CMC Markets has good research tools. Its news feed and charting tools are amazing. They used to publish articles and blogs on a continuous basis. Brokers are available to help traders every time.

They have good educational tools as well. The live webinars, video lectures and podcasts allow new learners to learn the fundamentals of the market. The video tutorials provide in depth and detailed knowledge of every topic related to the market. 

Pros Cons
Great web and mobile platformsHigh stock CFD fees
Advanced research and educational toolsComplicated account verification
No minimum depositLimited product portfolio
Credit/Debit card available£15 fee for international bank transfers
Data on asset fundamentalsNo two-step (safer) login

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Customer Support

You can contact CMC Markets via:

  • Live chat
  • Phone
  • Email

CMC Markets’s customer services are available in 9 multiple languages. 

Safety

CMC Markets is considered safe because it is regulated by the top tier institutions. Along with this, it also holds a good financial position and is also listed in the London Stock Exchange.

CMC clients are protected under scheme, which is as follows;

CMC Markets investor protection

Country of clientsProtection AmountRegulator Legal Entity
UK, EU, and countries except below£85,000Financial Conduct AuthorityCMC Markets UK plc, CMC Spreadbet plc (for spread betting accounts, available in the UK)
CanadaCAD 1,000,000Investment Industry Regulatory Organization of Canada (IIROC)CMC Markets Canada Inc.
AustraliaNo protectionAustralian Securities and Investments CommissionCMC Markets Asia Pacific Pty Ltd
New ZealandNo protectionFinancial Markets AuthorityCMC Markets NZ Limited Company
SingaporeNo protectionMonetary Authority of Singapore CMC Markets Singapore Pte Ltd
CMC markets

The verdict 

CMC Markets is a good CFD broker. It is beneficial for those who are ready to take risks.  As mentioned earlier CFDs are highly complex instruments with 75% traders being at a loss while trading the same. Customers are protected under the protection scheme. Hence, before investing must check that you come under scheme or not. 

It provides a free demo account for lifetime, no minimum investment, no withdrawal fee and inactivity fee kicks after 3 months. So you can definitely give it a try.

CMC markets

CMC Markets

9.1

Account

9.2/10

Trading Platform

9.3/10

Products Offered

9.1/10

Customer Service

8.9/10

Pros

  • No minimum deposit
  • Data on asset fundamentals

Cons

  • High stock CFD fees
  • Limited product portfolio
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