CMC Markets Broker Review 2024

Last Updated: November 2024

8.9 / 10

Overall Rating

9 / 10

Investment Offering

10 / 10

Trading Platforms

8 / 10

Deposit & Withdrawal

9 / 10

Research & Education

7 / 10

Commissions & Fees

10 / 10

Regulation & Security

Investment Offering

  • Markets & Instruments:
    • CMC Markets offers access to over 12,000 instruments across multiple asset classes, including:
      • Forex: 300+ currency pairs, one of the largest offerings in the industry.
      • Indices: Major global indices like the S&P 500, FTSE 100, and DAX 30.
      • Commodities: Gold, silver, oil, and agricultural products.
      • Shares: Access to shares from 20+ global stock exchanges, including NYSE, LSE, ASX.
      • Cryptocurrencies: Trade CFDs on major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
      • Treasuries and ETFs: Diverse selection including government bonds and global ETFs.
      • Options: Trade options on indices and shares with zero commission on cash-settled options.
  • Leverage & Trading Types:
    • Leverage: Up to 30:1 for retail clients on forex, with higher leverage available for professional clients.
    • CFDs: Trade CFDs across all the above asset classes with tight spreads and competitive margin requirements.
    • Spread Betting: Available for UK and Ireland residents as a tax-efficient way to speculate on market movements.
  • Unique Features:
    • CMC Alpha: Premium membership offering rebates on spreads, interest on account equity, and priority support.
    • Price+: Volume-based discount scheme offering reduced spreads as trading volume increases.

Guaranteed Stop-Loss Orders (GSLOs): Available for a fee, offering protection against market gaps.

Commissions & Fees

  • Commission Structure:
    • Forex: Spreads from 0.0 pips on major pairs (with a commission of £2.50 per lot per side).
    • Shares: Commission from 0.10% (minimum £9) for UK shares.
    • Cryptocurrencies: Spread-based, with typical spreads around 1.0% for Bitcoin.
    • Indices: Spread from 1 point on major indices like the UK 100.
  • Additional Fees:
    • Overnight Financing (Swap) Fees: Varies by instrument; transparent calculations are provided on the platform.
    • Guaranteed Stop-Loss Fees: Small premium paid for the added protection of GSLOs.
    • Inactivity Fee: £10 per month after 12 months of inactivity.
    • Withdrawal Fees: No fees for standard withdrawals, but bank transfers may incur charges based on the method and region.
  • Summary Table by Region:

Region

Asset

Commission/Fees

UK

Forex

From 0.0 pips + £2.50 per lot

UK

Shares

From 0.10% commission (min £9)

Global

Cryptocurrencies

~1.0% spread on Bitcoin

Global

Indices

From 1 point spread



Deposit & Withdrawal

  • Supported Methods:
    • Deposits: Bank transfer, credit/debit cards, and PayPal (varies by region).
    • Withdrawals: Bank transfer, typically the same method used for deposit.
  • Minimum Deposit:
    • No strict minimum deposit, though £100 is recommended to start trading.
  • Processing Times:
    • Deposits: Instant via cards/PayPal, 1-3 days for bank transfers.
    • Withdrawals: Processed within 1-3 business days.
  • Conditions:
    • Withdrawals to cards are typically free, while some bank transfers may incur third-party charges.

Trading Platforms

  • Web-Based & Mobile Platforms:
    • Next Generation Platform: CMC's proprietary web platform with advanced charting tools, technical indicators, and over 80 drawing tools.
    • Mobile App: Fully functional, providing all the features of the web platform, optimized for trading on the go.
  • Desktop Platforms:
    • MetaTrader 4 (MT4): Available for users preferring the industry-standard platform, offering EA support and custom indicators.
  • Features:
    • Charting Tools: Access to advanced charts with over 115 indicators and studies.
    • Order Types: Multiple order types including market, limit, stop, and trailing stop.
    • User Experience: Highly rated for its intuitive interface and fast execution speeds.

Research & Education

  • Educational Resources:
    • CMC Markets Learn Hub: Comprehensive educational hub with tutorials, webinars, and detailed trading guides.
  • Research Tools:
    • News & Analysis: Real-time market news, expert commentary, and economic calendars.
    • Technical Analysis: Access to advanced tools and third-party research like Morningstar.
  • For Advanced Traders:
    • Tools like the Pattern Recognition Scanner and access to in-depth market analytics.

Mobile Trading

  • Features:
    • Mobile App: Mirrors the desktop experience with full trading capabilities, including advanced charting, order management, and account tracking.
  • User Experience:
    • The app is well-regarded for its intuitive design and seamless integration with desktop/web platforms.

Regulation & Security

  • Regulatory Bodies:
    • Regulated by top-tier financial authorities including the Financial Conduct Authority (FCA) in the UK, ASIC in Australia, and MAS in Singapore.
  • Investor Protection:
    • UK clients are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000.
  • Security Measures:
    • Fund Segregation: Client funds are held in segregated accounts to ensure protection.
    • Platform Security: Utilizes SSL encryption, two-factor authentication (2FA), and robust security protocols.