CMC Markets Review 2024: Read Before You Trade

cmc markets review

The Fx platform lets you rank all 388 fx pairs based on change and market so you can see what is most volatile and what are the cheapest and most expensive crosses to trade. They are also split into developed markets, which will traditionally have more liquidity and emerging markets, where prices may be more volatile. CMC Markets offers industry-leading spreads on assets like forex and CFDs on commodities and indices. Overnight financing costs are standard for the industry, and we found no hidden expenses that might surprise traders.

Limited Leverage Options

cmc markets review

The regulatory status of different subsidiaries is covered at the footer of each page. The Trading Costs page clearly outlines all the costs, such as spreads and overnight holding fees. A User Agreement (Terms of Business) document is available on the CFD Legal Documents page.

The complete package for new & experienced traders

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. This regulated online broker offers 11,000+ contracts-for-difference (CFD) and spread betting instruments for both retail and professional traders. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. The platform offers a variety of learning materials, including specific trading guides for CFDs, spread betting, forex, and stocks, as well as more advanced topics including fundamental and technical analysis.

Next Generation Trading Platform

It’s wise to compare CMC Markets with other brokers offering established platforms, lower fees, and a wider range of traditional asset classes. The platform features advanced charting with 115 indicators/overlays, 12 chart types, and 35 drawing tools; highly customizable watchlists; client sentiment; and a streaming Reuters feed. Charts can be popped ­out to build and optimize complex desktop layouts. Clients who want to study long-­term trends will find price histories going back 20 years on major instruments.

cmc markets review

When compared to other brokers, the spreads are slightly higher which may not be great for scalping or automated strategies that rely on small pip movements. I would also like to see them include MT5 and either Autochartist or Trading Central to assist traders with their market analysis. Other than that, they are certainly worth consideration alongside some of the top brokers in the industry. CMC Markets offers thousands of trading instruments in CFDs and spread betting (UK only) from various asset classes such as forex, commodities, cryptocurrencies, shares, indices, treasuries and ETFs. The broker offers its exceptional proprietary “Next Generation” trading platform for the best trading experience.

cmc markets review

Where is CMC Markets based?

  1. Note that professional clients are exempt from negative balance protection.
  2. Regardless of the CMC Markets entity you choose — i.e., U.K., Singapore, Australia, Germany or Canada — the minimum deposit is zero.
  3. As such, it is more suitable for more active traders trading intra-day.
  4. All of this puts them up with there with the best trading brokers in my opinion.
  5. You can quickly change between chart intervals ranging from one second to one month.

However, as well as being a client-facing forex broker, CMC Markets also provide liquidity to a wide range of smaller brokers. This means that there should always be good FX liquidity capable of filling large and high-frequency orders from even the most active traders. Compared to IG, CMC Markets trading platform feels a bit more professional, it has a classic black background, more flashing lights and a slightly more urgent trading ticket. As such, it is more suitable for more active traders trading intra-day. CMC Markets trading platform is very much a technology-driven solution that aims to offer institutional-grade tools and execution to retail and experienced clients.

On major indices, such as the S&P 500, 0.6 is the average spread cost during peak trading hours (the fees are built into the spread). CMC’s fees for trading are relatively low, especially for forex, with the average spread on EUR/USD being 0.7 during peak trading hours. The most efficient way to minimize conversion fees is to use a multi-currency bank account at a digital bank.

This calendar is powered by Reuters and it is streamed on the Next Generation platform. This is one of my favourite tools for anticipating future market conditions. CMC Markets UK and European clients are insured by the Financial Services Compensation Scheme (FSCS). The scheme can compensate eligible clients if the broker becomes insolvent.

Deposits made by credit/debit card and PayPal are instantly available in your account. Local bank transfers are typically processed within two business hours and international bank transfers can take up to 5 working days. When testing the support via chat, there was often a short delay and placement in a queue. The wait was not long, but clearly longer than some market leaders where responses are usually immediate. For email inquiries we typically received a response within 1 business day.

Testing its many features was a breeze, and I assessed that the platform could be used to carry out comprehensive technical analysis. This is made possible due to the fluidity of its charts, supplemented with a wide array of analytical tools. Additionally, it offers penetrating market research and very competitive trading fees – the essential conditions for successful news trading. However, including third-party research content would make its market research more nuanced. The broker has an intuitive trading platform, a variety of trading instruments from different markets, and very competitive fees. Yes, they charge depending on the client’s account base currency and exchange location of the shares being traded.