CMC Markets Review 2024
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CMC Markets is #3 in our rankings of CFD brokers. |
| Top 3 alternatives to CMC Markets |
| CMC Markets Facts & Figures |
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Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage. |
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| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting |
| Demo Account | Yes |
| Min. Deposit | $0 |
| Mobile Apps | iOS & Android |
| Trading App |
The award-winning app from CMC Markets has transformed mobile trading. The app’s modern and customizable interface offers a unique user experience, distinct from competitors. Moreover, with its comprehensive charting capabilities featuring 25 technical indicators and 15 drawing tools, as well as its fast and stable trading environment, it’s an exceptional choice for traders. |
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| Payments | |
| Min. Trade | 0.01 Lots |
| Regulated By | FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA |
| MetaTrader 4 | Yes |
| MetaTrader 5 | No |
| cTrader | No |
| DMA Account | No |
| ECN Account | No |
| Social Trading | Yes |
| Copy Trading | No |
| Auto Trading | Expert Advisors (EAs) on MetaTrader |
| Signals Service | Yes |
| Islamic Account | Yes |
| Commodities |
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| CFDs | CMC lets you trade CFDs on 12,000+ assets across currencies, indices, commodities, shares, ETFs and treasuries. Spreads are relatively tight, there are no hidden fees and the industry-leading MetaTrader 4 platform is also supported for leveraged trading. Year after year, CMC shines as one of the best CFD brokers in the market. |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| FTSE Spread | 1 pt |
| GBPUSD Spread | 0.9 |
| Oil Spread | 3.5 |
| Stocks Spread | 0.02 |
| Forex | CMC presents an extensive array of 300+ forex pairs characterized by tight spreads and rapid executions, surpassing the offerings of many competitors in terms of currency diversity. Forex indices also present a fairly unique and holistic way to speculate on the value of key currencies like the USD, EUR and GBP. |
| GBPUSD Spread | 0.9 |
| EURUSD Spread | 0.7 |
| GBPEUR Spread | 1.1 |
| Assets | 300+ |
| Currency Indices |
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| Stocks | CMC provides opportunities on over 10,000 stock CFDs and offers reliable support during market hours based on tests. You also gain complimentary access to new and excellent analysis from reputable third-party outlets. On the downside, there’s no trading in real stocks in some countries. |
| Spreadbetting | CMC Markets’ range of 12,000+ spread betting instruments surpasses most competitors, allowing you to speculate on forex, indices, commodities, shares, ETFs and treasuries. You can trade on both CMC Web or MT4, though we recommend the award-winning CMC terminal for a top-notch mobile and web trading experience - perfect for spread betters who prefer to trade on the go. |
CMC Markets is an online brokerage, offering spread betting and CFD trading across major global markets. Traders can access thousands of assets including forex, commodities, indices and stocks. Our review of CMC Markets covers the online trading platforms, UK regulation, deposit options, fees and more.
About CMC Markets
CMC Markets was established in 1989, offering global trading services from central headquarters in London. The company is a well-regarded UK broker, listed on the London Stock Exchange and authorised by the Financial Conduct Authority (FCA). Today, there are over 90,000 active traders. CMC boasts trading awards for platform engineering and software features, supported by many positive user reviews.
Trading Platforms
The CMC Markets group offers two online trading platforms; suitable for both new and experienced traders. You can find terminal tutorials and access guidance on the broker’s website.
Next Generation
The Next Generation platform is a user-friendly browser-based solution for trading CFDs and spread betting:
- 20-year price history
- Price projection tool
- Client sentiment tool
- 115+ technical indicators
- Trade directly from charts
- 70+ chart patterns & 35+ drawing tools
- Fully customisable to suit all trading styles
- Copy-trading from analysts or other traders
- Chart intervals ranging from 1 second to 1 month
- Online forum access for platform help and discussion
Next Generation
MetaTrader 4
The industry favourite platform for trading forex and CFDs, MT4 can be downloaded to computers and offers:
- Trading signals
- Sentiment trader
- Micro lots from 0.01
- Customisable interface
- Range of charts and tools
- 2,500 pre-built trading robots
- Thousands of indicators & signals
- Build custom algorithmic trading solutions and expert advisors (EAs)
MT4
Note, the CMC Markets MT4 platform does not offer trading in shares – you will need to use the broker’s proprietary solution to trade stocks.
Assets
CMC Markets offers clients live trading opportunities on over 10,000 assets:
- Forex – 330+ forex pairs, majors, minors and exotics
- Indices – 80+ cash and forward indices including FTSE 100
- Commodities – 100+ commodities including gold and crude oil
- ETFs – 1,000+ instruments across sectors or within an index such as S&P 500
- Rates & bonds – 50+ government bonds and interest rates including UK Gilt
- International shares – 8,000+ global shares including Apple, Amazon and Boeing
- Share baskets – 28 exclusive CFD portfolios tracking emerging markets including autonomous driving and cybersecurity
Trading Fees
The broker offers competitive floating spreads. Typical spreads on major currency pairs such as EUR/USD and USD/JPY are 0.7 pips. Indices including UK100 and Germany30 are offered at 1.0. A full list of spreads per instrument can be found on the broker’s website.
CMC Markets charges a commission on CFD share trading. Fees vary but are generally charged at 0.10%. Notably, stock CFD fees are higher vs other brokers such as Trading 212 that doesn’t charge commissions.
Other costs include a £10 monthly inactivity fee after a year of no trading plus a guaranteed stop-loss order premium.
Leverage Review
UK traders can access leverage up to 1:30, in line with ESMA regulations. Forex leverage is available up to 1:30, indices are offered at 1:20 while shares and commodity trading are capped at 1:5. Users trading on margin should utilise risk management tools such as stops and limits to minimise risk exposure.
Mobile Trading
CMC Markets offers mobile-friendly trading software for both platforms. Available for free, the apps can be downloaded to iOS and Android devices. The applications promise an interactive trading experience while retaining most of the desktop platform functionality:
- Built-in ID verification
- Customisable dashboard
- Open, close and modify trades
- Alerts and instant notifications
- 40+ technical indicators & drawing tools
- Mobile optimised trading with 5 chart types
- Market news, insights & an economic calendar
Mobile app
Deposits
There is no minimum deposit requirement to open a live CMC Markets account. Deposits are free however bank charges may apply. Accepted payment methods include:
- PayPal – instant
- E-wallet – instant
- Bank wire transfer – up to 3 working days
- Credit/debit card – instant though Amex is not accepted
Withdrawals
There are no charges for withdrawing profits. UK withdrawal requests are processed on the same day if submitted before 2 pm. To withdraw funds from your CMC Markets account, select the payment option within the platform interface, choose the desired payment method, and input the withdrawal amount. Note you may need to submit security documents in line with the broker’s KYC checks.
Demo Account
The broker offers a demo account with access to virtual funds. Registration is simple, requiring a valid email address and phone number. Demo accounts are a good way to understand platform features and to test strategies in a risk-free environment. The practice account simulates real trading conditions with floating market spreads. There is no time limit or expiry on the CMC Markets demo account.
CMC Markets Bonuses
At the time of writing, CMC Markets does not offer any promotions or rebate deals to new or existing clients, this includes no deposit bonuses. This is aligned with ESMA trading regulations that restrict incentivising UK traders with bonuses and competitions.
Regulation Review
CMC Markets UK Plc is licensed by the Financial Conduct Authority (FCA). The FCA is a highly respectable regulatory body responsible for overseeing the UK’s financial markets. As per regulatory conditions, the broker segregates client funds in top-tier banks, offers negative balance protection and FSCS protection up to £85,000.
Additional Features
Our CMC Markets review was pleased to see multiple support features for clients. This includes international trading insights, details of company earnings, day trading guides, online videos and tutorials, courses, plus forum access. Education topics include CFD trading, automated platforms, bonds and social investing. CMC Markets also runs live virtual webinar events available to register at no charge and downloadable podcasts.
Trading Accounts
The broker offers two account types for spread betting or CFD trading.
Features of both accounts include:
- Account netting
- Fractional trade sizes
- Spreads from 0.3 pips
- Risk management tools
- Positions on rising and falling markets
- Free access to education, webinars, market insights and news
With the CMC Markets CFD account, hedging is available but clients may have to pay market data fees, share trading commissions and capital gains tax.
Benefits
- FCA regulated
- Demo account
- 24/5 customer service
- 10,000+ tradable assets
- High-quality mobile apps
- Negative balance protection
- No minimum deposit requirement
Drawbacks
- High CFD stock fees
- £10 monthly inactivity fee
- No binary options trading
- No cryptos such as Bitcoin
Trading Times
CMC Markets follows standard office hours. CFD and spread betting hours run from Sunday 9 pm to Friday 10 pm. Note, timings may vary by instrument. Also, public holiday dates such as Easter can cause changes to trading hours, though these are reflected within the platform and highlighted in economic calendars.
Customer Support
CMC Markets offers a range of customer support options, available 24/5:
- Live chat – logo on website
- Telephone – +44(0)20 7170 8200
- Email – clientmanagement@cmcmarkets.co.uk
- UK address – CMC Markets UK PLC, 133 Houndsditch, London, EC3A 7BX
User reviews show high levels of satisfaction with the customer support offered. The team can help with a range of issues such as a forgotten trading pin or login problems.
Client Safety
The broker is fully GDPR compliant and all personal data is encrypted. Two-factor authentication can be added to all accounts as a mandatory step in the login process or when making an online payment. We’re satisfied the broker provides a relatively secure trading environment.
Should You Choose CMC Markets?
CMC Markets offers CFD trading and spread betting opportunities across thousands of assets. UK traders can be assured of the FCA regulation, free demo account and extensive educational resources. Our review was also pleased to see powerful platform options including mobile apps. Overall, the broker is a great option for beginners and experienced investors.
FAQ
Does CMC Markets Offer A Demo Account?
Yes, CMC Markets offers a demo account for both online trading platform options. Practice your day trading strategy with access to interactive charts, pending orders and dozens of technical indicators. You can also test automated trading strategies with zero risk.
What Is CMC Markets Trading Platform Options?
CMC Markets offers the established MT4 solution as well as its proprietary Next Generation platform. Both are excellent trading terminals that are also available as mobile apps. Once you have opened a spread betting or stockbroking trading account with CMC Markets, you can use the platforms for free.
Is CMC Markets Regulated?
Yes, the broker is regulated by the UK Financial Conduct Authority (FCA) under registration number 173730. This is a promising sign the brokerage is trustworthy. Client fund segregation, leverage caps and negative balance protection are just some of the benefits of UK regulation. See our review for more details.
What Are CMC Markets UK Trading Hours?
CMC Markets trading hours are industry standard. Currency pairs and indices, for example, are available from Sunday 9 pm to Friday 10 pm. Outside of standard trading hours, users may see wider spreads due to reduced trading volumes.
How Can I Reset My CMC Markets Account Password?
Select ‘forgot password’ on the CMC Markets live trading account login page. Reset instructions will be sent to the registered email address. The password reset process only takes a few minutes.
Top 3 CMC Markets Alternatives
These brokers are the most similar to CMC Markets:
- IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
- Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for traders at all levels.
- Vantage FX - Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
CMC Markets Feature Comparison
| CMC Markets | IG Index | Pepperstone | Vantage FX | |
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| Rating | 4.7 | 4.7 | 4.8 | 4.7 |
| Markets | Forex, Stocks, Commodities | Forex, Stocks, Commodities | Forex, Stocks, Commodities, Crypto | Forex, Stocks, Commodities |
| Minimum Deposit | $0 | $0 | $0 | $50 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | 0.01 Lots |
| Demo Account | Yes | Yes | Yes | Yes |
| Regulators | FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB | FCA, ASIC, FSCA, VFSC |
| Bonus | - | - | - | - |
| Education | Yes | Yes | Yes | Yes |
| Platforms | MT4 | MT4 | MT4, MT5, cTrader | MT4, MT5 |
| Leverage | 1:30 (Retail), 1:500 (Pro) | 1:30 (Retail), 1:222 (Pro) | 1:30 (Retail), 1:500 (Pro) | 1:500 |
| Visit | 69% of retail CFD accounts lose money. |
69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
75.1% of retail investor accounts lose money when trading CFDs |
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| Review | CMC Markets Review |
IG Index Review |
Pepperstone Review |
Vantage FX Review |
Trading Instruments Comparison
| CMC Markets | IG Index | Pepperstone | Vantage FX | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Crypto | No | No | Yes | No |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | Yes | Yes | Yes | Yes |
| Gold | Yes | Yes | Yes | Yes |
| Copper | Yes | Yes | Yes | Yes |
| Silver | Yes | Yes | Yes | Yes |
| Corn | No | No | Yes | No |
| Futures | No | Yes | No | No |
| Options | Yes | Yes | No | No |
| ETFs | Yes | Yes | Yes | Yes |
| Bonds | Yes | Yes | No | Yes |
| Warrants | No | Yes | No | No |
| Spreadbetting | Yes | Yes | Yes | Yes |
| Volatility Index | Yes | Yes | Yes | Yes |
CMC Markets vs Other Brokers
Compare CMC Markets with any other broker by selecting the other broker below.
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| Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage. | ||