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CMC Markets Review
CMC Markets gives traders access to hundreds of spread betting and CFD instruments to trade in forex, indices, cryptocurrencies, commodities, shares, ETFs, and treasuries, enabling them to construct a diverse trading portfolio.
Their online trading platform, includes various chart formats, over 115 technical indicators and drawing tools, a pattern detection feature, and a chart discussion forum.
CMC Markets provides mobile trading apps for iPhone, iPad, and Android devices, enabling traders to manage their accounts and trades from any location. There are also a variety of risk-management solutions available to help you manage trading risk. For example, they charge a premium for guaranteed stop-loss orders if you want 100 percent certainty that a trade will close at a certain price even if it goes against you (GSLOs). The fee is entirely refunded if the GSLO is not activated.
- Established in 1989
- Regulated by Financial Conduct Authority
- Segregates client funds
- Min. deposit from $200
- Not ASIC Regulated (See alternatives)
- Inactivity Fee
- Limited range of instruments
- Doesn’t allow EAs (See alternatives)
A minimum deposit of $200 is required to open a live account. CMC Markets offers a demo account that you may utilise to explore with and learn about their platform.
Regulated by the Financial Conduct Authority (FRN: 173730) in the United Kingdom and the Financial Markets Authority (FMA) in New Zealand (FSP 41187), CMC Markets utilises tier-1 institutions to hold all customer cash in a separate bank account. CMC Markets was founded in 1989 and is headquartered in the United Kingdom.
While we show you the specifics of CMC Markets’ spreads, fees, platforms, and trading tools, we recommend that you open their website in a new tab by pressing the link below to obtain the most up-to-date information straight from them.
What are the spreads and expenses at CMC Markets?
Llike most brokers, CMC Markets, charges a fee based on the spread, which is the difference between both item’s purchase and sell price.
The fees and spreads displayed here are based on the minimum spreads listed on the CMC Markets website.
|EUR/USD(Average: 0.7 pips)||0.7 pips||0.09 pips||0.1 pips|
|GBP/USD(Average: 1.1 pips)||0.9 pips||0.38 pips||0.1 pips|
|USD/JPY(Average: 1.1 pips)||0.7 pips||0.19 pips||0.1 pips|
|AUD/USD(Average: 0.8 pips)||0.9 pips||0.17 pips||0.2 pips|
|USD/CHF(Average: 2.3 pips)||1.5 pips||0.35 pips||0.2 pips|
|USD/CAD(Average: 2.9 pips)||1.7 pips||0.27 pips||0.3 pips|
|NZD/USD(Average: 3.6 pips)||2.0 pips||1.1 pips||0.3 pips|
|EUR/GBP(Average: 2.4 pips)||1.1 pips||1.0 pips||0.1 pips|
Spreads are changeable and are provided solely for informational reasons.
As you can see, the minimum spread for trading EUR/USD at CMC Markets is 0.7 pips, which is pretty typical when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with CMC Markets to similar brokers.
How much does CMC Markets charge to trade 1 lot of EUR/USD?
If you bought one standard lot of EUR/USD (100,000 units) with CMC Markets at 1.1719 and then sold it the next day at the identical price, you would most likely pay $9.5. Here is a general breakdown of the fees and how they compare to IG and XTB.
|Spread from:||$ 7.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 7.00||$ 6.00||$ 2.00|
|$1 less||$5 less|
|VISIT CMC MARKETS||VISIT IG||VISIT XTB|
All fees/prices are for informational purposes and are subject to change.
What can you trade with CMC Markets?
CMC Markets provides over 9,277 different trading products, including over 32 currency pairings. We’ve summarised all of the different types of instruments offered by CMC Markets below, along with comparative products from IG and XTB.
|FX / Currencies||CMC Markets||IG||XTB|
|# of forex pairs offered||32||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||CMC Markets||IG||XTB|
|# of commodities offered||0||34||21|
|Index & Stock CFDs||CMC Markets||IG||XTB|
|# of stocks offered||9000||8000||1606|
|SEE CMC MARKETS’S INSTRUMENTS||SEE IG’S INSTRUMENTS||SEE XTB’S INSTRUMENTS|
What’s the CMC Markets trading experience like?
1) Platforms and apps
CMC Markets provides a user-friendly bespoke trading platform in the form of a browser-based WebTrader. If you’re looking for a MetaTrader broker, check out our MT4 broker comparison.
They now provide mobile apps for Android and iOS, making it simpler to monitor and make transactions while on the go.
2) Executing Trades
The minimum and maximum trading requirements at CMC Markets vary based on the trader and the asset.
CMC Markets may offer fewer entrance criteria as a market maker than an ECN broker, which benefits from a higher volume of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower small payment, lower minimum trade requirements, and no trading commission.
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most common financing options available to CMC Markets traders below.
- Guaranteed stop loss
- Allows scalping
- Allows hedging
- Low min deposit
- Demo account
- Mini account
- Standard account
- Managed account
- Credit cards
- Bank Transfer
3) Client support
English, German, French, Polish, Spanish, Swedish, Italian, and Norwegian are among the languages supported by CMC Markets.
4) What you’ll need to open an account with CMC Markets
Because CMC Markets is regulated by the Financial Conduct Authority, every new customer must go through a few simple compliance checks to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so keep it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also have to complete a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their site immediately, it is crucial to note that you will not be able to execute any trades until you pass compliance, which may take several days depending on your scenario.
79% of retail investor accounts lose money when trading CFDs with this provider.