A TopBrokers360 CMC Markets Review for 2024
Exploring the world of online trading can be a thrilling experience, and choosing the right broker is a crucial step in 2024. CMC Markets, a renowned global broker established in 1989 and listed on the London Stock Exchange, has been a key player in this field, offering a diverse range of trading options. Our CMC Markets review aims to shed light on what the platform offers, breaking down the complexities in order to make sure this is the broker for you. If you are an experienced trader or just starting out, understanding the ins and outs of these platforms is vital for your trading journey. Now, let’s take a look at what makes CMC Markets stand out in the financial trading landscape.
Pros and Cons
Pros:
- Diverse Trading Options
- User-friendly Trading Platforms
- Low Forex Fees
- Strong Regulation
- Rich Educational Resources
Cons:
-
- Higher Stock CFD Fees
CMC Markets Trading Platforms
When it comes to trading platforms, CMC Markets offers a robust and intuitive experience through two main platforms: the Next Generation platform and MetaTrader 4 (MT4).
Image source: CMC Markets Trading Platforms
Next Generation Web Platform
This platform is tailored for a comprehensive trading experience. It is renowned for its advanced charting package, offering over 115 technical indicators and a variety of chart types. Unique features like the price projection tool and pattern recognition scanner add to its appeal. It’s designed for both beginners and seasoned traders, with tools like module linking and client sentiment analysis enhancing the trading process.
MetaTrader 4 (MT4)
MT4 caters specifically to forex traders, known for its automation capabilities and robust features. It’s a popular choice for those who prefer technical trading, offering a range of analytical tools and the ability to implement automated trading strategies.
- Advanced Charting Tools
- Over 115 Technical Indicators
- Customizable Interface
- Client Sentiment Analysis
- Pattern Recognition Scanner
- Price Projection Tool
- Automated Trading on MT4
CMC Markets Product Review
In reviewing the trading instruments or assets offered by CMC Markets, it is evident that they provide a vast and diverse range of options to cater to various trading interests and strategies. Here’s a summary:
CFD Instruments:
Forex: CMC Markets offers a competitive edge in forex trading with tight spreads starting from as low as 0.5 pips on EUR/USD. They provide over 330 currency pairs, covering major, minor, and exotic pairs.
Indices: Access over 80 global indices with CMC Markets, featuring spreads as low as 1 point on key indices like the UK 100. This variety allows for broad market exposure.
Cryptocurrencies: The platform supports trading on 21 cryptocurrency instruments via CFDs. This is a convenient option for those looking to trade in the volatile crypto market without the need for a wallet or exchange account.
Commodities: Offering over 100 cash and forward commodity instruments, including oil and gold, with spreads starting from 0.2 points on Gold.
Shares: A vast selection of over 9,400 shares from 23 countries with competitive pricing. Margin rates for shares start from 20%.
Treasuries: More than 50 treasury instruments are available, including gilts and bonds, with margin rates beginning at 20%.
Share Baskets: A unique offering is the ‘share baskets’, which provide diversified exposure to certain themes like autonomous driving.
Spread Betting: Available primarily in the UK and Ireland, offering tax efficiency.
Comparing the Trading Accounts
➟ Visit CMC Markets for more information on their CFD Account Types
Curious about which CMC Markets account suits your trading style? Let’s break it down for you.
Image source: CMC Markets Account Types
CFD Account
The CFD Account is ideal for traders looking to trade Contracts for Difference (CFDs) across a wide range of products. It offers the flexibility of trading over 10,000 products, including forex pairs, indices, commodities, and more, with no minimum deposit requirement. This account type also features advanced order management, comprehensive charting tools, and a suite of trading tools and educational resources.
Corporate Account
Designed for corporate entities, this account type mirrors the CFD account in terms of product availability and features. It allows corporate traders to access over 10,000 trading products with the same advanced platform features as the CFD account. This includes detailed charting tools, a range of order types, and mobile trading capabilities.
License & Regulations – Can CMC Markets be Trusted?
➟ Check out the Why CMC Markets page for more info.
CMC Markets is regulated by several reputable financial authorities worldwide, reinforcing its position as a trustworthy and secure trading platform. This includes authorization and regulation by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and the Monetary Authority of Singapore (MAS). Additionally, they are overseen by the Investment Industry Regulatory Organization of Canada (IIROC) and the BaFin in Germany. These rigorous regulatory standards across different countries ensure a high level of safety and fairness for traders using CMC Markets, making it a globally respected broker.
Payment Methods at CMC Markets
The payment methods for funding a CMC Markets account include using a credit or debit card and bank transfers. It’s important to note that the account or card used for funding must be in your name, as third-party payments are not accepted. CMC Markets does not accept cheques, cash deposits, AMEX, or Diners cards. For payments made from outside the UK, additional charges may apply for bank transfers. Cards need to be enrolled in 3D secure (Verified by VISA or MasterCard Secure Code) for successful deposits.
Customer Support
➟ Need assistance? Learn about the support options available at CMC Markets.
Customer support at CMC Markets is comprehensive, yet it’s available only 24/5, not 24/7. The support team can be reached through various channels, including email, live chat, and phone, with a proud note on the website saying “98% of calls answered in under 20 seconds”. The support staff is known for being knowledgeable and helpful, providing valuable guidance for both technical and account-related queries. While the support is robust, the limitation in operating hours could be a factor for traders who operate in different time zones or prefer round-the-clock assistance.
There is also an in-depth FAQ section as well as a glossary to assist with the smaller questions you may have.
Image source: CMC Markets Support Page
Email:
[email protected]
Telephone:
+44 (0)20 7170 8200
Frequently Asked Questions
Is CMC Markets reliable?
CMC Markets is recognized for its robust regulatory compliance and a broad range of trading options, showcasing its reliability in the trading industry.
Is my money safe with CMC Markets?
The platform ensures the safety of funds through stringent regulatory practices, including segregated client accounts.
Is CMC good for beginners?
CMC Markets is beginner-friendly, offering intuitive platforms, comprehensive educational materials, and demo accounts for practice.
Does CMC Markets have a monthly fee?
Generally, CMC Markets does not charge a monthly fee, but be aware of possible inactivity fees for dormant accounts.
Can CMC Markets be trusted?
With top-tier regulations and a longstanding presence in the industry, CMC Markets has earned trust globally.
Who owns CMC Markets?
CMC Markets is a publicly listed company on the London Stock Exchange, owned by its shareholders.
What is the minimum deposit for CMC Markets?
Most account types at CMC Markets have no minimum deposit requirement, offering flexibility for traders.
How can I access CMC Markets app on my mobile?
The CMC Markets app provides mobile access to trading platforms, available on both iOS and Android devices.
What types of accounts does CMC Markets offer?
CMC Markets offers several account types including CFD accounts, corporate accounts, and spread betting accounts (in some regions).
How do I open a demo account with CMC Markets?
Opening a demo account can be done through their website, offering a risk-free way to practice trading strategies.
How can I log in to CMC Markets?
You first get to the CMC Markets login page, click the tab if you would like to log in to your Spread Betting Account or your CFD Account, and then you will be directed to the correct page, where you will fill in your credentials and start trading.
What are the leverage options at CMC Markets?
CMC Markets offers varying leverage options depending on the instrument and trader’s location, adhering to local regulatory limits.
