CMC Markets
- Written By Forex
- Updated:
If you’re searching for a reliable global broker with good prices on CFDs and spread betting, plus loads of stuff to trade (over 12,000 things!) and cool platforms, CMC Markets might be a good fit.
In this review, we’re checking out the important stuff, so you can decide if CMC Markets is right for you. On Trustpilot, they’ve got a 4/5 rating from over 2,290 reviews. Most folks (65%) gave them 5 stars, but about 11% left 1-star reviews. We last checked their Trustpilot score in August 2025.
CMC Markets Overall Summary Table | |
Year Founded | 1989 |
Minimum Deposit | $0 |
Tradable Instruments | Forex, Commodities, Stocks, Indices, Cryptocurrencies, Interest Rates, Bonds, Share Baskets, Treasuries, ETFs |
Open an Account | How to Open an Account at CMC Markets |
Trading Costs | Spreads, Fees, and Commissions at CMC Markets |
Key Pros and Cons
Before diving deeper, here’s a quick overview of the main advantages and disadvantages of trading with BlackBull Markets:
- Key Pros
- Extensive, interactive education content
- Award-winning proprietary web-based trading platform and mobile trading app
- Simple, spread-based pricing model
- Extensive CFD product list
- Additional risk management tools available (GSLOs)
- No fees on deposits and withdrawals as well as no minimum deposit requirement
- Award-winning customer support service
- Key Cons
- No US and Japanese clients
- Limited account type options
- Limited account funding methods
- Negative Balance Protection limited to EU and UK retail clients
Company Information
The Foundation of CMC Markets
Founded by Peter Cruddas in 1989, CMC Markets (short for Currency Management Corporation) is currently one of the leading global providers of online CFD trading and spread betting. The brokerage has offices in London, Vienna, Madrid, Frankfurt, Oslo, Beijing, Shanghai, Warsaw, Toronto, Sydney, Auckland, Dubai, and Singapore, serving more than 1.5 million clients from 70 countries.
Proprietary Platform Launch
In 2010, the broker launched its in-house trading platform, Next Generation, and started trading publicly on the London Stock Exchange in 2016, with an initial market capitalization of £693 million. CMC Markets Plc (LSE: CMCX) became a constituent of the FTSE 250 index on June 20th of the same year.
The CMC Markets Group is comprised of the following corporate entities with their respective offices:
- CMC Markets UK Plc, office address: 133 Houndsditch, London, EC3A 7BX, United Kingdom
- CMC Markets Asia Pacific Pty Ltd, office address: Level 20, Tower 3, International Towers 300 Barangaroo Avenue, Sydney NSW 2000, Australia
- CMC Markets Austria CMC Markets Germany GmbH, office address: The ICON Vienna, Wiedner Gürtel 13 Turm 24 / 10. Stock 1100, Vienna, Austria
- CMC Markets Canada Inc, office address: 81 Bay Street, Suite 3550, Toronto, Ontario M5J 0E7, Canada
- CMC Markets China, office address: Level 11, Excel Center, No. 6 Wu Dinghou Street, Xi Cheng District, Beijing 100033, China
- CMC Business Services Ltd, office address: Suite 3404, Level 34, Shanghai Tower, No.501, Middle Yincheng Road, New Pudong District, Shanghai, China
- CMC Markets Germany GmbH, office address: Garden Tower, Neue Mainzer Str. 46-50, 60329 Frankfurt, Germany
- CMC Markets NZ ltd, office address: Level 39, 23 Albert Street, Auckland 1010, New Zealand
- CMC Markets Norway, office address: Fridtjof Nansens plass 6, 0160 Oslo, Norway
- CMC Singapore, office address: IOI Central Boulevard Towers, West Tower Unit #25-03, 2 Central Boulevard, Singapore
- CMC Markets Spain, office address: Paseo de la Castellana 40, 9th Floor, 28046 Madrid, Spain
- CMC Markets Germany GmbH sp. z o.o. Oddział w Polsce, office address: ul. Emilii Plater 53, 00-113 Warszawa, Poland
- CMC Markets Middle East Ltd, office address: Office 2903, ICD Brookfield Place, DIFC, Dubai, United Arab Emirates
- CMC Markets Bermuda Limited, office address: Park Place, 55 Par-La-Ville Road, 3rd Floor, Hamilton HM11, Bermuda
We should note that CMC Markets does not accept clients based in certain countries, including Japan, Brazil, Belgium, Argentina, South Africa, and the United States. Check the broker’s terms and conditions for the full list of restricted jurisdictions.
Catering to Traders Worldwide
One of the impressive features of AvaTrade is its truly global reach, which is something that will appeal to traders all around the world. Their website is configured for over 25 separate countries and regions and supports at least 20 different languages.
Multiple Industry Awards
AvaTrade has won multiple industry accolades from reputable outlets, such as The European, International Business Magazine, FXEmpire, and Daytrading.com.
Why Trade with CMC Markets?
Now, let us provide a quick list of the key features that we like about CMC Markets.
Aspect | What we like |
Regulation | A broker with a good reputation, solid compliance track record, and licenses from first-tier regulatory bodies. |
Education | Abundant educational materials are available, probably among the best in the industry. |
Trading Platforms | An award-winning proprietary web-based platform and mobile trading app. Both are rich in features. Additional trading tools are available on both Next Generation and the MetaTrader platforms. |
Trading Instruments | An exceptionally wide selection of over 12,000 tradable markets across various asset classes, such as currency pairs, commodities, stocks, stock indices, exchange-traded funds, cryptocurrencies, and treasuries. |
Ways to Trade | Opportunity to choose between traditional CFD trading, options trading, and spread betting (available to UK customers). Despite their advantages, you should be aware that all three forms of trading involve a high risk of losing money rapidly due to leverage. |
Customer Support | An award-winning, 24/5 support service via several channels, including email, live chat, and telephone. |
Regulation
CMC Markets, like other big-name brokers we checked out, is a global online CFD and Forex broker. They're approved and watched over in a bunch of places. Their regulatory record looks good because they stick to the tough rules set by four top-level regulators.
- The Financial Conduct Authority (FCA) in the United Kingdom
- The Australian Securities and Investments Commission (ASIC) in Australia
- The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany and the EEA
- The Canadian Investment Regulatory Organization (CIRO) in Canada
Additionally, CMC Markets is regulated by four second-tier financial watchdogs:
- The Monetary Authority of Singapore (MAS)
- The Financial Markets Authority (FMA) in New Zealand
- The Dubai Financial Services Authority (DFSA) in the UAE
- The Bermuda Monetary Authority (BMA) in Bermuda
A breakdown of the various regulation regimes is presented below.
Flag | Region | Entity | Authority | License |
 | UK | CMC Markets UK plc | Financial Conduct Authority (FCA) | Registration number 173730 |
| Australia | CMC Markets Asia Pacific Pty Ltd | Australian Securities & Investments Commission (ASIC) | AFSL No. 238054 |
| Singapore | CMC Markets Singapore Pte. Ltd | Monetary Authority of Singapore (MAS) | Registration number/UEN 200605050E |
| Canada | CMC Markets Canada Inc | Canadian Investment Regulatory Organization (CIRO) | |
| Germany/EU | CMC Markets Germany GmbH | BaFin | Registration number 154814 |
| New Zealand | CMC Markets NZ Limited | Financial Markets Authority (FMA) | Registration number 1705324 |
| Bermuda | CMC Markets Bermuda Limited | Bermuda Monetary Authority (BMA) | Registration number 202302718 |
| United Arab Emirates | CMC Markets Middle East Ltd | Dubai Financial Services Authority (DFSA) | Registration number F002740 |
If CMC Markets’ UK branch goes broke, the Financial Services Compensation Scheme (FSCS) will cover UK retail clients for up to £85,000 because they have an FCA license.
For EU and EEA retail clients, the BaFin license means they can get up to €20,000 each from the Compensation Scheme of Securities Trading Companies (EdW) if the broker has money problems.
But since CMC Markets isn’t regulated by the CFTC, they can’t offer online trading to customers in the US.
Regulation
4.5/5
- The multi-jurisdiction regulation improves client trust
- FCA regulation translates into £85,000 compensation per covered client
- BaFin regulation translates into €20,000 compensation per covered client
KYC Procedure for Account Creation and Depositing
Signing up with CMC Markets turned out to be a fast and hassle-free process. The procedure takes place entirely online and requires around 15 minutes. Our live account was verified within 1 business day. The registration was rather standard and included the following steps:
Selecting a country of residence, providing an email address, and choosing a strong password
Entering a confirmation code sent via email
Selecting an account type and base account currency
Entering your personal details and some financial data
At this stage, you can use a demo account. For a live account, the broker will require you to verify your identity and provide proof of residency. For identity verification, you must upload a photo of both sides of your driver’s license, national ID card, or passport. To verify your residency, you should upload a recent bank statement, utility bill, mortgage, or credit card statement.
Once the trading account is verified by the broker, you will be able to make an initial deposit to begin trading.
Just so you know, CMC Markets will have you take a quick test to see if CFD trading is right for you. They’ll ask about your job, how much you earn, and what you know about trading. It’s basically a rule thing to make sure you know what you’re getting into and can handle the risks before you start.
Account Opening
4/5
- Fast sign up process (up to 15 minutes)
- Sign up includes a suitability test
Account Types
CMC Markets doesn’t give a lot of details on account types, but it looks like they have two main choices. If you sign up under the Bermuda, UK, or Canada licenses, you can get an FX Active account. This account is for people who trade a lot. Spreads start at zero pips on major currencies, and commissions are a flat $10 for US shares and £9 for UK shares. For Forex, it’s $2.50 per standard lot with FX Active accounts.
- CFD trading account
- Spread betting account
CFD Trading Account
This is the standard account type, available to clients based in all of the broker’s countries of regulation. It features an all-inclusive spread, which covers all trading costs and, as a result, there will be no additional commissions charged for trading CFDs. The only exceptions are stock CFDs, which are associated with a small commission charge of $10 for US stocks and £9 for UK stocks. This account type is very suitable for beginners, because pricing is simple – they will only have to pay a bid-ask spread on all trades without the need to additionally calculate costs.In addition, they are able to deposit any amount they wish, because the brokerage does not have a minimum deposit requirement. Traders from New Zealand can access the highest leverage ratios possible , up to 1:500, while in other jurisdictions, there are leverage caps in place for retail investor accounts. The standard CFD trading account supports the following base currencies: GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, and SGD. A similar account is available for MT4, but the number of forex pairs is lower at 175+ and customers cannot trade stocks or bonds.
Spread Betting Account
This account type is available only to clients based in the United Kingdom and Ireland. Trading costs are covered by the spread and there are no hidden fees. Clients can access more than 12,000 trading instruments across several asset classes, including forex pairs, indices, commodities, shares, ETFs, interest rates, and bonds. Another advantage is that clients will not have to pay any capital gains tax or stamp duty on their gains from spread betting. The account supports two base currencies, EUR and GBP.
No ECN/STP Accounts
Right now, the broker doesn’t have ECN/STP accounts for European customers. Usually, these accounts have the lowest spreads and a small fee, so both fast-paced traders and pros like them. But, the Bermuda side has FX Active accounts with spreads from 0.0 pips on 6 main pairs, plus cheaper spreads on other currencies and a $5 commission each way per standard lot.
Multi Accounts Manager (MAM/PAMM)
CMC Markets does not offer MAM/PAMM solutions to accommodate money managers.
Islamic Account (Swap-Free)
CMC Markets also does not offer a swap-free account type, suitable for traders of the Muslim faith. These accounts comply with the Sharia Law, which does not allow paying or earning interest.
Demo Account
This brokerage has a free demo account you can use forever. It’s just like real trading, so it’s great for trying out new strategies without risking any cash. You get $10,000 in fake money to play with! It also helps newbies get used to the platform and all its features.
We should note, however, that CMC Markets’ demo account does not display stock quotes.
Account Types
3/5
- CFD trading and Spread betting accounts are available
- Swap-free accounts are not on offer at the moment
- No ECN/STP accounts offered
- The CFD trading account is suitable for novice traders
Trading Fees and Other Costs
It’s super important to keep your trading costs down. Do your homework on any brokerage before deciding to trade there. Like other CFD and forex brokers, CMC Markets has two main kinds of fees you need to know about
- Trading fees: spreads, commissions, and overnight funding fees
- Non-trading fees: account management fees, deposit, withdrawal, inactivity, and currency conversion fees
Let us provide a breakdown of these two categories to see how CMC Markets fares on this front.
Costs/fees | What is this? | With CMC Markets |
Spreads | The cost incorporated into the bid and ask prices of what you trade. A wider bid-ask spread translates into greater expenses. | Spreads are competitive. The CFD trading account offers minimum spreads from 0.2 pips on major forex pairs. |
Commission | A flat fee paid upon opening or closing a position often used as an alternative to charging via the spread. | No commissions on spread betting accounts in the UK. Commissions of $10 and £9 on US and UK shares traded via CFD accounts. Spreads from 0.0 pips and 25% spread discounts for six major currency pairs, plus a $2.50 commission per side, per standard lot with FX Active accounts. |
Financing charges | The cost of maintaining leveraged positions open overnight. | The broker will not charge an extra fee on top of the daily swap rates. |
Deposit fees | Fees charged by the broker to fund your account. | None (see Deposit Methods below) |
Withdrawal fees | Fees charged by the broker to withdraw money from your account. | None in most countries (see Withdrawal Methods below) |
Inactivity fees | Fees charged on dormant trading accounts. | £10 per month, or the equivalent in your base currency, after one year of no trading activity. No inactivity fees at the EU-regulated entity. |
Spreads
CMC Markets’ spreads are pretty competitive with other brokers that use the market-maker pricing thing. They have fixed and variable spreads based on what you’re trading, but forex pairs are variable. One thing that’s not so great is they don’t tell you what the average spreads are, just the lowest ones for the most popular forex pairs.
Instrument | CMC Markets | IG | FXCM | OANDA |
EUR/USD | 0.5 | 0.6 | 0.0 | 1.0 |
USD/JPY | 0.7 | 0.7 | 0.0 | 1.1 |
GBP/USD | 0.9 | 0.9 | 0.0 | 1.2 |
USD/CHF | 1.5 | 1.5 | 1.1 | 1.3 |
AUD/USD | 0.6 | 0.6 | 0.0 | 1.1 |
USD/CAD | 1.3 | 1.3 | 0.0 | 1.5 |
NZD/USD | 1.7 | 1.8 | 0.0 | 1.4 |
Instrument | Standard CFD Trading Account (Minimum Spreads) |
EUR/USD | 0.5 |
USD/JPY | 0.7 |
GBP/USD | 0.9 |
USD/CHF | 1.5 |
AUD/USD | 0.6 |
USD/CAD | 1.3 |
NZD/USD | 1.7 |
Next, let us see how CMC Markets fares compared to its closest competitors when it comes to minimum spreads for precious metals and energies.
Instrument | CMC Markets | IG | FXCM | OANDA |
Gold | 0.26 | 0.30 | 0.27 | 7.56 |
Silver | 2.50 | 2.00 | 0.029 | 3.00 |
WTI Crude Oil | 2.50 | 2.80 | 0.01 | 3.00 |
Commissions
At CMC Markets, you don’t pay extra commission fees for CFD trading because they make their money from the bid-ask spread. So, when you open or close a trade, there are no broker fees for you. But if you’re in the UK and trading stock CFDs, there’s a commission: $10 for US stocks and £9 for UK stocks. Also, if you have an FX Active account in Bermuda, they charge $2.50 commission on each side per standard lot for forex trades.
Spreads & Commissions
4/5
- CFD trading spreads are competitive
- No commissions on forex trades with CFD accounts
Financing Charges
When you keep a currency position open overnight, there’s a fee called an overnight financing charge, or swap rate. It’s based on the interest rate difference between the two currencies you’re dealing with, and if you’re in a long or short position. Forex swap rates come from the tomorrow-to-next-day (tom-next) rate in the main market and are shown as daily or yearly percentages. CMC Markets adds adjustments to the tom-next rates for long positions and takes them away from the rates for short positions.
- Swap rate for long (buy) positions = tom-next rate % + 0.0027%
- Swap rate for short (sell) positions = tom-next rate % – 0.0027%
The daily swap rates for some of the most actively traded currency pairs are as follows:
Currency Pair | Long Position | Short Position |
AUD/USD | -0.0043% | -0.0013% |
EUR/USD | -0.0094% | 0.0038% |
GBP/USD | -0.0042% | -0.0016% |
USD/JPY | 0.0081% | -0.0137% |
Deposit fees
Withdrawal fees
CMC Markets generally does not charge internal fees on withdrawals regardless of the payment method you use. However, customers from certain jurisdictions may pay additional fees when withdrawing via international wire transfers.
Inactivity fees
The broker starts charging an inactivity fee of £10 or the equivalent in other base currencies after 12 consecutive months of no trading activity. The fee is deducted from your available account balance each month.
We consider the amount reasonable, not to mention the inactivity period is fairly standard. Some brokerages start charging dormancy fees after 3 months of inactivity, while others charge an administrative fee on top of the inactivity fee.
Inactivity Fees
2.5/5
- Inactivity fee of £10 per month after 12 successive months of no trading activity
Overall on Fees
CMC Markets gives you a fair shake with their CFD trading setup. Spreads are tight, and they don’t charge commissions or extra fees besides the usual overnight costs. Just a heads-up: if you don’t log in and trade for a year or more, they’ll hit you with an inactivity fee. Now, if you’re into FX Active accounts, the spreads can be as low as zero pips on main forex pairs, but you’ll pay a $5 commission for each round turn ($2.50 in and $2.50 out) per standard lot.
Trading Fees and Other Costs
3/5
- Competitive spreads on CFD products
- No extra fees on top of standard swap rates
- No extra forex commissions with CFD trading accounts
- An inactivity fee will be charged after 12 months of dormancy
Desktop Trading Platforms
CMC Markets gives you their own trading platform, plus others like MT4 and TradingView. Just so you know, which platforms you can use depends on where you live. First, let’s check out their Next Generation platform.
The Next Generation Platform
CMC Markets’ Next Generation trading platform is packed with features.
First off, it has a charting tool with over 115 technical indicators, drawing tools, 70+ chart patterns, and 12 chart types for in-depth analysis. People really like CMC Markets’ charting – they even won Best Broker for Charting in a 2017 UK trading report.
Also, the platform has a tool to help you spot common chart patterns on different timeframes. Plus, you can link different parts of the platform together. Change the product in one section, and all the linked sections update automatically.
There are other cool market analysis tools too. For example, a pattern scanner alerts you when patterns like triangles or wedges show up on 120 popular products. There’s also a tool showing what other CMC Markets clients are trading in real time. The Next Generation platform lets you change how things look. You can save up to five different setups, like a five-minute chart view or a market overview setup. You also get access to order options to control your trades and manage risk. These include boundary orders, trailing stops, price ladders, and guaranteed stop-loss orders.
Market news and analysis are right there on the platform, including articles and videos from CMC Markets’ analysts, videos from CMC TV, Morningstar reports, and Reuters news. The main problem? You can’t do automated trading on Next Generation. If you want to automate your strategies, you’ll need to use MetaTrader.
MetaTrader 4
MetaTrader 4, the go-to software for forex trading, lets you change things up and has a lot of tools and charts. If you go with CMC Markets, you not only get some tools already there, but can get tons of others for free or for a price. CMC Markets’ MT4 has a dozen extra things you can add, like Mini Terminal and Sentiment Trader, along with 15 tech tools like Pivot Points or Keltner channel.
You can also trade small amounts, which helps you control risk, mostly when using leverage. The coolest thing is that you can build, test, and make better automated trading plans using the MQL4 language. And lastly, you can use MT4 Trading Signals to copy what other traders do as it happens. Pick who to copy by looking at different things about them.
TradingView
CMC Markets lets its clients trade through TradingView. It’s got great charts and lets you talk shop with other traders. You can spot good trades using its tools, with more than 20 chart types and over 110 drawing tools. Plus, there’s a community for sharing ideas and plans.
There are about 13 kinds of alerts you can set, like for price or volume changes. TradingView comes with over 400 technical indicators, and you can even make your own with Pine Script. It works on computers and phones, so you can keep tabs on your trades when you’re out.
Desktop Platforms
3.5/5
- Next Generation proprietary platform available
- Advanced features and trading tools
- Third-party platforms like MetaTrader 4 and TradingView are supported
- Algorithmic trading only on MetaTrader 4
Mobile Trading Platforms
Like many top forex brokers, CMC Markets has a mobile app for both iPhones and Androids. It works just like their online platform.
With this easy-to-use app, traders can easily manage their trades from anywhere. They can also use advanced order options and charts that look great on mobile. Plus, you can trade in more than 12,000 markets with CFDs or spread betting.
Other key features of the CMC Markets mobile trading app include:
- Fully customizable dashboard and ability to use topical watchlists
- Access to a rich suite of analytical tools, including 40 technical indicators and 13 types of charts
- Ability to set up alerts via push notification, email, or text message
- Access to a Client Sentiment tracker tool that displays the behavior of other traders and updates in real time
- Free access to market news and analysis from the broker’s in-house analysts and other reputable sources like Reuters and Morningstar. A comprehensive economic calendar is also available
- There are also some new security features available such as fingerprint authentication and lock-app timer
We should not forget to mention that CMC Markets’ in-house mobile app has received multiple industry awards, such as:
- Best Mobile/Tablet App for 2019 from the Investment Trends UK Leverage Trading Report
- Best Trading App for 2019 at the Financial Times Wealth Management Awards
- Top Mobile/Tablet App for 2019 at the Shares Awards
Beyond the broker’s proprietary mobile app, you can use third-party mobile apps like MetaTrader 4 and TradingView to benefit from valuable features like one-click trading, micro lot trading, various add-ons, market sentiment tool, and more.
CMC Markets Mobile Trading Platform
Android | iOS | |
Minimum System Requirements | Android 8.0 and up | iOS 16.0 or later |
User Rating | 4.0/5 | 4.0/5 |
User Reviews | 2,940+ votes | 222 ratings |
Supported Languages | English, French, German, Hungarian, Italian, Norwegian, Polish, Portuguese, Simplified Chinese, Spanish, Swedish | English, French, German, Hungarian, Italian, Norwegian, Polish, Portuguese, Simplified Chinese, Spanish, Swedish |
Forex Pairs | 300+ | 330+ |
Other Tradable Assets | CFDs on indices, commodities, shares, interest rates, and treasuries | CFDs on indices, commodities, shares, ETFs, and treasuries |
Features | Over 40 technical indicators and drawing tools, advanced order tickets, real-time market calendar with push alerts, access to market analysis, client sentiment analysis | 13 chart types, over 40 indicators, dozens of drawing tools, advanced order types and trading alerts, access to real-time news and analysis, client sentiment analysis |
Biometric Authentication | Yes | Yes |
2-Factor Authentication | Yes | Yes |
Mobile Trading
5/5
- Award-winning in-house mobile app for iOS and Android devices
- Third-party mobile apps for MT4 and TradingView are available
- The apps offer similar functionalities like their desktop versions
Trading Instruments
CMC Markets is mainly for forex and CFD trading; you can’t trade actual stocks there like you can with some big stock and CFD brokers. You can only do that through their CMC Invest section. What’s really cool is they have a ton of stuff you can trade – over 12,000 things in all the main categories.
Asset Class | CMC Markets | Rating | IC Markets | OANDA |
Forex | 330+ | Excellent | 61 | 48 |
Indices | 80+ | Excellent | 25 | 14 |
Commodities | 100+ | Excellent | 22 | 31 |
Stock CFDs | 9,000+ | Excellent | 2,100+ | 1,600 CFDs, 2,100+ physical stocks |
Cryptocurrency | 14 | Good | 18 | 13 |
Bonds | 50+ | Excellent | 9 | 10 |
Futures | 0 | n/a | 4 | 0 |
Options | 6 | Good | 0 | 0 |
Let us take a closer look at the product lineup.
Foreign Exchange
Right now, CMC Markets lets you trade over 330 currency pairs – that’s way more than usual. Spreads on big pairs like EUR/USD and AUD/USD start at 0.6 pips, which is pretty standard. But ECN brokers like IC Markets or Pepperstone sometimes have even lower spreads, like 0.0 pips if you use commission-based accounts. That being said, CMC Markets gets your orders done super quick, usually in about 30 milliseconds. Something cool they have is currency indices, which are like groups of pairs with the same base currency. They’ve got about 12 you can trade, like the CMC USD Index, CMC GBP Index, CMC EUR Index, and CMC AUD Index. In Europe, Australia, and the UK, you can use leverage up to 1:30 for currency pairs and 1:20 for currency indices.
Stock Index CFDs
You can trade CFDs on over 80 cash and indices, like the Australia S&P ASX 200, FTSE 100, DJIA 30, S&P 500, and DAX 30. Leverage goes up to 1:20 for major indices, spreads start at 0.5 points for the US SPX 500, and there aren’t any extra fees. CMC Markets has way more index CFDs to pick from than most others.
Stock CFDs
At CMC Markets, you can trade CFDs on more than 9,000 stocks from 23 countries using their Next Generation platform. Stock CFD leverage goes up to 1:5 in the EU, UK, and Australia. The lowest commission you’ll pay is £/€9 for UK and EU shares, and $10 for US shares. Plus, there are over 1,000 ETFs with spreads from 1.0 point and leverage to 1:5. ETF CFD trading starts at $10 commission. CMC Markets stacks up well against big names like IG for stock and ETF CFD trading.
Commodity CFDs
You can trade over 100 different commodities with cash or forward contracts. This includes things like energy, metals such as gold, silver, platinum, and palladium, plus agricultural products like coffee, sugar, and wheat. Spreads start as low as 0.26 for gold.
The most you can borrow is 20 times your investment, but that’s only for gold. For everything else, it’s 10 times. There are also commodity indexes that focus on particular sectors like precious metals, energy, and agriculture. The borrow rate for these is up to 10 times. Generally, CMC Markets has more commodity options than most others.
Cryptocurrency CFDs
You can trade up to 14 different digital currencies against the US dollar as CFDs. This selection is like what most big crypto brokers offer. In Europe and Australia, the most leverage you can get is 1:2. But the spreads on some of these can be bigger than what other companies offer. You’ll see well-known cryptocurrencies like Bitcoin, Ethereum, and Litecoin, plus some altcoins like TRON, EOS, or NEO. They also have 3 crypto indices for trading – All Crypto Index, Major Crypto Index, and Emerging Crypto Index.
Bond CFDs
CMC Markets lets you trade CFDs on over 50 government bonds from the EU, UK, and US. They also offer CFDs on interest rates like Euribor. Bond CFD trading has a max leverage of 1:30, and interest rate CFDs are capped at 1:5. The cool thing is, they don’t charge any commissions for trading these. It’s a pretty nice selection since not all online brokers let people trade bonds and interest rates.
But, you can’t trade futures CFDs at CMC Markets, or some of those harder-to-find instruments that professional traders look for.
Last but not least, CFD trading is one possible way to operate with CMC Markets’ trading instruments. Clients residing in the UK and Ireland are also able to benefit from the advantages of spread betting such as:
- Gains from spread bets are not subject to capital gains tax
- No obligation to pay stamp duty, as traders simply speculate on price movements and do not actually own the underlying assets
- No commissions are charged on spread bets.
Traded Instruments
3.5/5
- CFD trading and Spread Betting are available
- The CFD product offering is well above average
- Leverage ratios cannot be changed by clients to better manage risk
- No futures CFDs
Trade Execution
The good part is that your orders get filled fast – usually around 35 milliseconds because they do it themselves. Plus, the spreads are pretty good (that is, low trading costs), and you don’t pay any commissions on CFD trades and spread bets. CMC Markets makes money from the spread between the buying and selling prices. The exception is stock CFDs, where they charge small commissions on each side of the trade for CFD trading accounts.
The bad part is that as a market maker, CMC Markets is on the other side of your CFD trades and spread bets. So, they’re basically trading against you. It’s important to know this before you decide if you want to trade with them.
For the time being, CMC Markets does not appear to offer STP or ECN order execution.
Trade Execution
3/5
- Dealing Desk broker model
- Fast execution, competitive spreads, and no commissions
- CMC Markets acts as a counter-party to all trades
- Average execution speed of 35 milliseconds
- No STP or ECN execution
Deposit Methods
CMC Markets doesn’t ask for a minimum deposit, so new traders can begin with any amount they’re okay with. Also, they don’t charge fees for deposits, no matter how you pay. Keep in mind, though, your bank might charge extra fees for transfers from some countries, but that’s not something CMC Markets can control.
You can deposit money in 10 different currencies like GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, and SGD if you’re opening a CFD or FX Active account. If you’re in the UK or Ireland and want a spread betting account, you can only use GBP or EUR. One thing is that they don’t have a ton of ways to pay. Your choices are:
Method | Processing Time |
Credit and Debit Cards by Visa or Mastercard | Instant processing of deposits |
PayPal | Instant processing of deposits |
Bank Transfer | Processing time of 1 to 3 business days depending on country |
Currently, there are no deposit bonuses available at CMC Markets.
Deposits
3.5/5
- No minimum deposit requirement
- 10 base currencies
- No fees charged on deposits
- A limited selection of payment options
- No deposit bonuses available
Withdrawal Methods
UK-based withdrawals will be processed the same day, if the withdrawal request is sent before 2:00 pm GMT. Non-UK withdrawals will be processed the same day, if the withdrawal request is submitted prior to 11:00 am GMT.
CMC Markets will not charge any additional fees on withdrawals, in case the latter are made via local bank transfers, credit or debit cards, and PayPal.
On the other hand, if you withdraw via an international bank transfer, you may incur additional fees but the charges are country and bank-specific.
Additionally, we should note that if you trade through a spread betting account, you will not be able to withdraw funds to credit or debit Cards by Mastercard.
Withdrawals made via debit or credit cards may take up to 5 business days to clear, while international bank wire transfers may take 3 to 5 business days. Withdrawals via PayPal will usually clear within 1 business day.
Withdrawal Methods
4/5
- No fees charged on withdrawals by CMC Markets
- Fast processing of PayPal withdrawals (1 business day)
Customer Support Contacts
CMC Markets offers a professional customer support service on weekdays, from 8 am to 8 pm. You can contact the broker’s support team via several channels:
Support Contact | Available | Response |
Live Chat | Monday through Friday | Less than 30 seconds |
Telephone contact | Monday through Friday | Less than a minute |
Email contact | 24/5 | Within several hours |
FAQs | 24/7 | On the website |
Live Chat: This is the fastest way to reach a representative of the brokerage. We were pleased with our live chat experience, because we received a response in less than half a minute and obtained relevant and precise information about the matters we were interested in. We asked about CMC Markets’ spread betting conditions.
Telephone contact: Contacting CMC Markets over the phone also turned out to be quite fast – the response time was no longer than 30 to 40 seconds. We contacted the broker’s UK office during local business hours by dialing +44 (0)20 7170 8200 and were treated in a truly professional manner. But what is more important, we received very precise information about the matters of interest to us. The broker’s support team for other regulated entities can be contacted over the phone during local business hours.
Email Contact: You can also send your inquiries by email. The brokerage has provided several email contacts, as follows:
FAQs: If you have more general inquiries, you can always check out the broker’s extensive list of Frequently Asked Questions (FAQs) for a possible resolution. In the CMC Markets Help Center, you will find FAQs related to account applications, charges, products, trading platforms, security, trading issues, user guides, account funding, and withdrawals, among others.
We should also mention some of the awards CMC Markets has earned for the exceptional quality of its customer support service.
- Highest Overall Customer Satisfaction, 2019, Investment Trends UK Leverage Trading Report
- Customer Service, 2018, Investment Trends Australia Leverage Trading Report
- Customer Service Team of the Year – Small, 2018, Australian Service Excellence Awards
- Highest Overall Client Satisfaction, 2018, Investment Trends UK & Australia Leverage Trading Report
As was the case with other industry leaders like Pepperstone, CMC Markets did not receive the top mark here, because it does not offer customer support service over the weekend.
Support Contact
4/5
- Live chat and phone contact were of great use
- Extensive FAQs section
- No support service over the weekend
Research and Educational Materials
- Trading guides presented as videos on topics, such as Technical Analysis, Fundamental Analysis, and Trading Strategies
- Written guides on topics such as Trading the News and an Overview of Financial Markets
- Video and written guides on CFD trading
- Written guides on Bitcoin, Ethereum, the risks and benefits of cryptocurrency trading
- Written and video guides covering all aspects of Forex trading
- An interactive guide focused on spread betting, including strategies
- A comprehensive guide on CMC Markets’ proprietary trading platform, Next Generation, including order execution, charting, features, technical and fundamental tools
- A guide on using MetaTrader 4
- Live events such as regular in-house webinars, where you can access live analysis from industry experts and acquire new skills in real time. These events are meant to suit both beginners and more advanced traders.
Currently, CMC Markets does not offer any e-books.
In terms of research, the brokerage offers content such as:
- Fundamental data analysis via Morningstar reports that can be accessed through the Next Generation platform
- Daily market news and analysis by CMC Markets’ in-house analysts available on the broker’s web page. An additional news feed by Thomson Reuters is available on the Next Generation platform.
- CMC TV – the broker’s YouTube channel that provides market updates and technical analysis several times a week
- A customizable Economic Calendar that offers near real-time updates on key macro data and other events.
Let us also mention some of CMC Markets’ awards related to its educational content:
- Educational Materials/Programs, 2018, Investment Trends Australia Leverage Trading Report
- Education Materials, 2016, Investment Trends UK Leverage Trading Report
Research & Education
4.5/5
- Versatile educational content
- Host regular webinars
Security and Money Guarantees
Our team of experts at Bestbrokers.com believes that your money is safe with a trustworthy, multi-regulated global brokerage like CMC Markets. Our key findings include:
- Over 3 decades of business history and growth
- Tier-1 ASIC, BaFin, CIRO, and FCA regulation
- FSCS and EdW compensation for clients from the UK and Canada
- Negative balance protection for clients from the UK, EU, and Australia
- Guaranteed stop-loss order available for CFD and spread betting positions
Having ASIC, CIRO, BaFin, and FCA watching over them means this broker is honest and open. These top licenses also say that client money has to be kept separate from the broker’s money in trust accounts at good banks. This keeps your money safe. If you’re a regular client of CMC Markets UK plc, your money is with banks like Natwest, Barclays, Lloyds, HSBC, and Ulster Bank. And if you’re with CMC Markets Germany GmbH, your funds are in a separate account at Barclays Bank in Frankfurt.
Since CMC Markets is a publicly-traded brokerage company, listed on the London Stock Exchange, it is obligated to report its financial results on a regular basis.
Also, if you’re a retail client in the EU, the EdW covers you. But if you’re in the UK, the Financial Services Compensation Scheme gives you even better protection if a broker goes bust.
Also, CMC Markets offers a valuable risk management tool such as negative balance protection, but only to its retail clientele located in the EU and the UK. In other words, client losses cannot exceed their initial deposit. If a negative balance occurs, CMC Markets will absorb that loss and will automatically restore the clients’ account balance back to zero. Negative balance protection is a useful risk management tool, particularly for novice traders.
Another risk management tool that CMC Markets’ clients can use to protect their active positions includes guaranteed stop-loss orders (GSLOs). The guaranteed stop-loss order sets an absolute limit on your potential losses, while also minimizing the risk of slippage. If you have made an incorrect prediction of market movement, your active position will be automatically closed by the broker’s trading software at the specified price level, regardless of market volatility or gapping. Note that the GSLO incurs a premium charge. If the order is not triggered, CMC Markets will refund that premium in full. GSLOs can be used on both CFD trading and spread betting positions.
Oh, and one more thing! CMC Markets has snagged over 50 awards, so they must be doing something right. For example, Shares Awards gave them Best Spread Betting Service and Financial Services Provider of the Year in 2018. Plus, Investment Trends Australia Leverage Trading Report thought they had the Best Platform Features in 2018, and Canstar named them Broker of the Year for Online Share Trading back in 2021.
Security of funds
4.5/5
- High-trust ASIC and FCA regulation
- EdW and FSCS compensation
- Risk tools such as GSLOs available
- Impeccable reputation with over 50 industry awards
- LSE-listed company
- Negative balance protection is available only in EU, Australia, and UK
Conclusion
Our team of experts at BestBrokers.com believes that CMC Markets may be a good choice for novice forex traders because of:
- Its solid regulatory background
- Its award-winning educational content
- The absence of minimum deposit requirements
- Its exceptional customer support service
- Its risk management tools, including GSLOs and negative balance protection
However, since the brokerage does not offer any ECN/STP account types, it may not suit the needs of traders who seek institutional grade pricing and direct market access.
Overall
3.5/5
- Award-winning in-house trading platforms
- Award-winning customer support service
- Some of the best education materials within the industry
- Competitive CFD pricing
- No ECN/STP accounts
- Limited choice of payment methods
- Inactivity fees will be charged
- Negative balance protection limited to two jurisdictions
- No US clients
