CMC Markets Review
Overview and Background information
CMC Markets is a publicly-traded forex broker founded in 1989. CMC Markets is a leader for low-cost and professional trading. This broker offers an indeed wide range of tradable instruments with about 10,000 of them. CMC Markets serves over 50,000 clients worldwide through its 15 offices globally, with a staff count of 687 people across its entities regulated in the UK, Canada, and Australia. The company has a market capitalization of over £290 million as of September 2019.
CMC Markets is authorized by the following regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).
CMC Markets operate majorly through their Next Generation web platform. The platform is fast, reliable and contains numerous tools that help and support traders of all skill levels.
The platform contains a whopping 79 technical indicators and 74 chart patterns that are attachable to the chart. This offers traders the opportunity to analyze the markets better. The platform also comes equipped with a social sentiment capability.
In addition to this web platform, CMC Markets also offer MetaTrader Platforms. Although the web platform does not support automated trading, MT4 does.
Apart from the MetaTrader mobile app, CMC Markets offers a mobile trading platform which bears close semblance to the web –based version of the Next Generation Platform.
Deposit and Withdrawals
Deposit and withdrawal methods at CMC Markets are bank wire transfer, and bank cards through VISA and MasterCard.
CMC Markets offers highly competitive spreads on pairs. Low spread in CMC Markets is available to all customers and account types. With EUR/USD, the typical spread is 0.81 pips with an average of 0.7 pips.
CMC Markets also charges swap on holding positions open overnight. They also charge a commission on certain account types. Another charge that is levied by CMC Markets is that of the “Guaranteed Stop-Loss Order”. The GSLO costs $8 per 100,000 units using the EURUSD. If not triggered this cost is automatically refunded.
CMC Markets are market makers. This means the orders are fulfilled in-house. This does not affect the speed of execution however, but it does raise concerns about conflict of interest.
Customer support at CMC Markets is good with phone, mail and live chat options. CMC can be contacted through [email protected] by mail or through + 44 (0)20 7170 8200 by phone.
CMC Markets offer varying account types ranging from Demo/Virtual accounts to VIP accounts. The minimum initial deposit required to open a live account at CMC Markets is $1.00. The maximum leverage is 1:300 while the minimum trade size is 0.01 lots.
Instruments offered by CMC Markets are as follows: a total of 180 currency pairs and 9,848 CFDs. They offer cryptocurrencies, precious metals, commodities, bonds, stocks, indices, etc .as CFDs.
CMC Markets has a host of rich educational and research content to aid in trading the financial markets. They offer Insights News, CMC Markets Blog, CMC TV, and even publish a print magazine (Opto).
CMC Markets offers rebates to its clients. This is
CMC Markets is altogether an awesome broker that has excelled in bringing thousands of tradable assets to its clients. This affords clients the opportunity to diversify their portfolio as they wish. Coupled with their Next Generation Platform, CMC Markets have their spot sealed at the top when it comes to forex brokers.
You can find out more about trading forex by reading our blog or interact with other forex traders at our forex forum. You can also read more broker reviews to guide you if you need to choose a new broker. For personal experiences of other traders with different brokers, visit our forum page on forex brokers.
Are you a beginner looking to learn forex from scratch? Or do you need to refresh your knowledge on forex? Check out free courses and quizzes on our courses page. Visit our store for forex materials such as books and other gadgets to make your trading experience easier. You can make use of free forex tools such as pip calculator, position size calculator, etc. at our tools page.