Trading is hard enough without having to worry if your broker is going to go bust. I used to flit between IG and CMC Markets back then, IG had a few more markets, but the platform was a bit basic. CMC Markets had tighter pricing and because the platform had a dark background, https://forexarena.net/ and more flashing lights you felt like a real pro. Despite the fact that CMC’s heritage is in the FX markets, I could never really get the hang of them so I’d trade indices, and FTSE 100 shares (but also because CMC only really did the main market stuff back then).
Is CMC Markets A Good Broker For Day Trading?
The company is listed on the London Stock Exchange (LSE) under the ticker symbol CMCX. CMC Markets is overseen by multiple regulators worldwide, including FCA, ASIC, IIROC, and others. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with CMC Markets please share your personal review of the broker and what you think are strong and weak points.
Is CMC Markets A Regulated Forex Broker?
I recently gave them another full test with real money and live trades, interviewed their founder, and sat down in the studio with their head of product. In this review, I give my opinion on what CMC Markets is good cmc markets review at, where they let themselves down, and what sort of traders they are appropriate for. Michael’s webinar’s are a great support and very educational, along with the companies excellent customer service and platform.
Excellent broker but HIGH SPREADS
- Professional traders can also open a separate account granting access to higher leverage.
- The broker achieves fast average execution speeds, successfully fills most client orders, and offers an excellent proprietary platform with advanced charting capabilities.
- CMC Markets execution was amazing, withdrawals and deposits using PayPal took less than a minute and their trading software was a perfect mixture of professional features packed in a very aesthetically pleasing format.
- If there is one criticism, it would have to be regarding the lack of a dedicated search function or well-organized archive, which makes it difficult to find many topics.
- Clients who want to study long-term trends will find price histories going back 20 years on major instruments.
I’ve been trading with CMC Markets for over a year now, and my experience has been exceptional. The platform is incredibly user-friendly, with intuitive navigation and a sleek design. I particularly appreciate the wide range of instruments available, which allows me to diversify my trading portfolio easily. Their customer service is top-notch; whenever I’ve had an issue or question, the support team has been prompt and helpful. The educational resources provided have been invaluable, helping me to refine my trading strategies and improve my market knowledge.
Account Types
CMC Markets definitely has one of the best market ranges of all the brokers out there. The iPhone and Android apps were designed with the active CFD trader in mind. They both feature live streaming prices and charts, pending order execution alerts, a Reuters news feed and CMC Markets’ client sentiment indicator. CMC Markets does not require a minimum deposit, making its accounts quite affordable. It also offers raw spreads from 0.5 pips and supports commission-free trading (except for share CFDs). Finally, it provides robust support content and reliable customer support, making it a perfect choice for casual trading.
CMC traders are covered under the Financial Services Compensation Scheme (FSCS) – a UK-based compensation scheme – up to £85,000 or equivalent per individual, or up to £170,000 or equivalent per joint account. CMC Markets provides an outstanding mobile trading experience, allowing for robust and flexible trading from anywhere. The brand is very well regarded and is regulated by multiple financial bodies.
One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative. In the UK, cryptocurrencies are only available to clients with professional accounts. This restriction stems from the FCA’s January 2021 ban on the sale of crypto-derivatives to retail consumers. CMC Markets’ instruments offering beats the industry average for every asset class.
Trade indices with tight spreads, lightning-fast execution and the highest-rated customer service in the industry. Another key feature I liked when testing the platform was the share baskets. CMC has created it’s own sectors on popular themes like driverless cars, cannabis and cyber security. This regulated online broker offers 11,000+ contracts-for-difference (CFD) and spread betting instruments for both retail and professional traders. The broker’s excellent and easy-to-use mobile app lets you manage your account and trade from anywhere. The mobile app also has many useful features that include execution alerts and its client sentiment indicator.
In our 2024 Annual Awards, CMC Markets finished Best in Class in the Commissions and Fees category thanks to its consistently low spread offering, which is available for all customer segments and account types. CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of nearly 12,000 tradeable instruments. CMC was previously sued when two clients alleged it sold “highly risky and unsuitable” CFDs to retail investors between November 2011 and April 2021. One applicant claimed to have become “consumed” with CFD trading and ultimately lost $226,000 in four years, while the second applicant claimed to have lost $270,000. During five years of share price growth, Commercial Metals achieved compound earnings per share (EPS) growth of 29% per year.
Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). FX Active’s commission-based pricing comes in at $2.50 per side with minimum spreads of zero pips, resulting in a 0.5 pip all-in cost when trading the EUR/USD (using August 2023 data) and five other currency pairs. For example, the spread on the NZD/USD on CMC Markets’ standard account offering comes in at 1.5 pips, but drops to an all-in cost of 0.5 pips (after commissions) with the FX Active pricing. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation.