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CMC Markets Review (December 2022)

Well-Regulated Broker With 10,000+ Tradable Assets

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Overall Rating

4.2/5

FAST FACTS

Fees: Spreads from 0.3 pips

Best For: Trading CFDs

76% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

CMC Markets is one of the longest-standing brokers in the industry. The company has been around since 1989 and offers an extensive range of tradable markets worldwide. This includes countries throughout Europe including Denmark, France, the United Kingdom, Italy, Norway, Poland, Sweden, Spain, and others.

The broker offers a strong combination of low spreads, trusted regulation, and a vast degree of experience to add to the more than 10,000 available assets. Here, we will take a closer look at what makes CMC Markets one of the top choices for traders industry-wide.

Pros

  • Long established industry name
  • Wide range of assets to trade
  • Well-regulated in multiple jurisdictions
  • Competitive fees and spreads

Cons

  • Limited choice of account types
  • MT4 platform only available on desktop

Trust

4.5/5

A trusted reputation and strong regulatory backing are at the cornerstone of any successful broker. Having been around for more than three decades, CMC Markets understands the importance of both and has many elements in place to ensure traders feel safe and secure when trading. 

First of all, and most importantly, the broker has excellent regulatory approval in place. CMC Markets is regulated in multiple jurisdictions by several top-tier regulators. This includes the FCA in the UK, BaFin in Germany, MAS in Singapore, ASIC in Australia, and the IIROC in Canada. This extensive range of regulatory approval provides evidence that the company takes its security obligations seriously, and runs a well-trusted operation. Further than that, the company is also publicly listed on the London Stock Exchange, and being FCA regulated in the UK, participates in the Financial Services Compensation Scheme which ensures the protection of assets up to £85,000 in the unlikely event that the company failed to meet its financial obligations. 

In all, the broker has an extremely strong reputation over its more than 30 years in the industry and this stands to its benefit in terms of attracting new and experienced traders and their trust.

Investment Products

4.5/5

CMC Markets provides a deep and extensive range of assets to choose from. In total, there are more than 10,000 tradable assets across many different markets. This range includes a huge number of CFDs with spread betting also available but only if you are a client registered in the UK. 

There are more than 330 forex currency pairs on offer to trade. This is a massive number of pairs including combinations of major, minor, and exotic FX currencies. The selection in this area is among the largest offered by any major broker. More than 150 assets are tradable in the categories of commodities, indices, and bonds, while there are more than 20 other specialized trading instruments known as “Countdowns” that are available for spread betting. 

Several cryptocurrency CFDs can also be traded including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP. There is also a wide range of stocks, which can be traded as real assets. These number almost 5,000 in total from more than 20 stock markets around the world.

Commissions & Fees

4/5

Fees are extremely competitive at CMC Markets. Spreads on forex start from 0.3 pips on major currency pairs. No commission is charged on trading with the broker when trading the vast majority of assets. The exception here is when trading stocks. These attract a commission from 0.1% with a $7 commission fee depending on the asset. On other CFD assets like indices, bonds, and commodities, the spread also stays competitive and generally starts from around 0.9 pips depending on the asset traded. 

When it comes to making deposits and withdrawals from the broker, several methods are accepted. These include wire transfers, credit cards, and certain eWallets such as PayPal. Whilst these services may have their own fees, the broker does not typically charge any fees from their side on these deposits. The same is true for withdrawals where the same methods are also accessible. 

Overnight fees are charged on all CFDs as they are at every other broker. These fees apply if you hold a CFD position open overnight and the rates vary depending on the asset and the market at that particular time. In terms of non-trading fees, the only one to note is an inactivity fee charged by the broker. The CMC Markets inactivity fee is $15 per month once you have been inactive for one calendar year.

Trading Platforms

3.7/5

There are several trading platforms made available by the broker. The most well-known of these is MetaTrader 4. This platform is available on desktop, and mobile but not as a webtrader platform with CMC. This is one of the most well-respected platforms in the industry and very well-known for high levels of customizability and its ease of use with an extensive number of charting tools and indicators available. 

The broker also offers its own proprietary trading platform known as the CFD Next Generation Platform. This trading platform provides a very user-friendly experience overall and is available as a web-based trading platform. 

If you are trading on mobile, there is also a handy and light trading platform that you can download to trade, manage your account, and keep updated with the latest news. A proprietary stock trading platform is also available and is web-based. This platform is provided free of charge but there is an option to upgrade to a subscription model with additional features.

Customer Support

4.1/5

Customer service at CMC Markets is provided in 10 different languages and several different mediums. These include a live chat function, email, and phone support on multiple local numbers depending on your location. 

Response and assistance from the support team is fast, knowledgable, and always professional while a detailed educational section also provides many additional answers and support for traders at all levels.

Summary

4.2/5

Overall, as would be expected from a broker with three decades of experience in the industry, CMC Markets covers all areas well and has a very strong and trusted reputation with the regulation in place to support it. 

Trading costs are kept as low as possible, and the range of choice ensures there is something for all types of traders. This broad spectrum of possibilities is another positive that will ensure CMC Markets continues to attract a large number of users.

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