We have split the CMC Markets platform review into six sections, both for mobile and desktop. Trading shares of companies outside Australia, the US, the UK, Canada, and Japan incur a brokerage fee of $59.95 or 0.59% . You’re also charged an additional spread on share CFDs, however, this is already included in Buy/Sell price you see on the platform. For every trade you make with CMC Markets, the instrument has a spread. A spread is the difference between the Buy and Sell price, by which CMC Markets makes money.
There are three account tiers based on the volume and size of trades made. We’re glad you find the platform easy to use and the customer service team responsive and help resolve any issues you’ve had. US CPI data came out at 1.30pm and desktop platform and mobile apps failed . As happened on this occasion, CMC Markets seem to be particularly prone to login errors “login details not recognised, please contact us on tel.xxxxxxxxx). Unable to login as US markets experienced massive drops. Disadvantages of trading with CMC Markets include – CFDS available only, customer support is only available 24/5, charges high stock CFD fees.
- Platform is amazing and absolutely up to standards but unfortunately there is no API access to platforms and can not be opened on multiple devices at the same time.
- You can only deposit money from accounts that are in your name.
- When choosing a broker, regulation is one of the most important things to look out for.
- That being said, you’ll still need to fund your CMC Markets account if you want to partake in any live forex trading.
- CMC Markets NZ Ltd. is authorised and regulated by the New Zealand Financial Markets Authority , reference number FSP41187.
Spreads are competitively low and all financial instruments, with the exception of individual shares, have specified margin percentages. CMC’s margin rates on shares “start from 20% on U.K. and U.S. shares. Different margin rates apply for large position sizes on shares, depending on which tier the position size falls under.” CMC Markets’ dedication to providing clients with top notch research is to be commended. It is comparable with the best that the online forex brokerage arena has to offer. Under the FCA’s Client Money rules, CMC Markets is required to segregate client money from CMC’s own funds.
CMC Markets Overview
These stories range from in depth analysis of specific stocks, indices and sectors to forecasts of how upcoming economic data could impact the market. For clients in the UK an important difference between spread betting and CFD trading is how they are taxed. Profits from spread betting are free from capital gains tax. Spread betting is also only available to clients in the UK or Ireland, while CFDs are available worldwide. This feature allows traders to execute orders with a single click and no secondary confirmation. Being able to place a trade with a single click saves time and is especially useful for short term traders.
Essentially, CMC’s web-based platform is the company’s de facto flagship offering and has far more functionality than does its MT4 white-label. This would not be as big of an issue were it not for the fact that MT4 is its only downloadable offering. CMC Markets delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app. In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you’re looking for and what you can trade. The Next Generation platform also offers two important features for active traders who value speed in placing orders.
Because of its intuitive and sophisticated nature, CMC Markets’ platforms cater to professionals and new traders alike. The Next Generation web-based platform can be easily learned by novices, and the MetaTrader platform can be used by traders who already have knowledge of that platform. At CMC Markets, we are committed to providing our clients with a wide range of products and the best possible execution. Our goal is to offer a user-friendly and intuitive platform that meets the needs of our clients, and we are glad to hear that we have been successful in doing so for you. Thank you for taking the time to share your positive experience with us. We are thrilled to hear that you find CMC Markets to be the best platform for the range of products and execution.
CMC Markets Key Takeaways in 2022
The online trading and CFDs, how spread bets work, and investment trends will determine benefits to s, and, and exposure to different products. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74%-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The platform is affordable to use and provides access to many different trading pairs.
So, before you decide to trade in any Broker platform check our review and then start trading. You can easily find the legit broker platform vs the scam broker platforms via Trading Critique broker reviews. It’s then been a very long process to withdraw my money. The customer service was quick but I still have not received my money. Not for me, I have used multiple platforms and CMC is subpar. You will find an impressive asset listing of over 10,000+ instruments.
There are several training videos covering a variety of trading topics including fundamental analysis, technical indicators, forex and CFD trading, spread betting, etc. I like how these videos are grouped for beginners, intermediate and advanced traders. The company makes it easy to trade many different kinds of assets – whether you use CMC Markets Canada, UK, or any other country-specific platform.
Is the quality of customer service satisfactory?
In another great feature, you can set alerts for economic calendar events too, just like on the web platform. You can use multiple deposit/withdrawal options and CFD account base currencies. Withdrawals are mostly free, except for same-day or international bank withdrawals. CMC Markets offers two account types, which differ based on the countries they’re available in, the range of accepted account base currencies, pricing and taxes. In the sections below, you will find the most relevant fees of CMC Markets for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.
- The broker is also available on social media; Facebook, Twitter, LinkedIn and YouTube.
- This helped me get familiar with the platforms, practice trading strategies and test the brokers service.
- Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis.
- Alerts on your orders or prices levels can be set up via push notifications, SMS or email.
Stop – A pending order where the entry is at a predetermined point above or below the prevailing market rate depending on whether it’s a buy or sell. The trader also has the option of selecting the expiration time of this order. Limit – A pending order where the entry is at a predetermined point below or above the prevailing market rate depending on whether it’s a buy or sell.
We also ensure all reviews are published without moderation. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Also don’t believe any of the positive reviews and contact your national fraud help desk just to check before you invest anything into any unregistered online broker. I got assigned a very friendly account manager who convinced me to put in some money and the results were great.
Research & Educational Tools
Forex traders just need to complete the account opening process to get started and will enjoy tight spreads and low CMC Markets fees after doing so. CMC Markets also gives you access to top-tier financial research through its global team of market analysts on its “Insights” module. Introductory guides to trading the wide array of products offered are also available along with a section comprised of videos devoted to trading strategies. A healthy roster of online webinars, offered through a partnership with Trade With Precision, fills the need for advanced topics, but there’s no archive of previous programs. Next Generation has three basic order types with the option of attaching “take profit” and/or “stop loss” orders to them.
8AM GMT is the London open, when there is a great deal of liquidity in the forex market and therefore tighter spreads in currency pairs. 4PM GMT is shortly after the opening of the New York stock exchange. Moreover, the CMC Markets Next Generation TRading platform is highly powerful and versatile with numerous configuration options and plenty of tools for the trader to meet their needs. CMC Market makers have low pricing, narrow spreads, and leverage, as well as low margin requirements as low as 3.34 percent. FXCC platform has many advanced features for trading; this includes a built-in library with more than 50 indicators for indicating technical analysis. There is also access to plus embedded charts, stop and pending orders, the market for accurate analysis.
Covers market moving news such as earnings releases and the reaction to it. A more in depth report covering the major stories of the day. This recaps the results of important economic releases and other news. CMC Markets accepts clients from the majority of countries globally.
Easy to use system
Called them up, they didn’t even know about it, then after a while saying we detected the problem at 5am and it was a problem with Macquarie. Asked for compensation and every little question the CS person had to run back to “senior” colleagues, couldn’t answer anything on their own. I lost a https://traderoom.info/ of trading and will be moving my portfolio elsewhere. CMC Markets offer its clients one of the leading platforms in the market –MetaTrader4 . MetaTrader 4, also known as MT4, is an advanced trading platform that provides users with a wide range of market indicators to use when making their trades.
One of the few drawbacks with CMC Markets, besides the fact that it doesn’t accept U.S. clients, is that its tradable asset base covers only CFDs. This means you cannot use this broker to purchase real stocks, mutual funds or bonds for long-term investment and income purposes. CMC Markets does have excellent pricing, education and research resources, however, and offers top-tier trading platforms that should suit any active CFD trader. The firm’s fees are competitive within the industry and it ranks high on several of our lists. The company is ranked as the winner for Investopedia’s Best Overall Forex Broker for 2020 as well as Best Forex Broker for Range of Offerings.
It also cmc markets review “professional charting, powerful tools and innovative platform navigation”. I recently reported a trading issue to CMC customer service which had resulted in a losing trade. I was quite surprised how quickly and fairly they put things right for me, refunding the loss I had incurred. I personally find trading platform very well designed for amateur traders like myself, and CMC are not so full of hubris they refuse to give you a fair hearing when things go wrong. I have tried numerous platforms, CMC’s online platform is really good, once you get to know all the functions, its packed with info and tools, withdrawals are simple once you are set up. Their support teams been very helpful and I would recommend this online trading platform.
We’re listed on the London Stock Exchange and headquartered in London, with several international offices in many of the world’s leading financial centres. This allows us to support over 86,000 clients worldwide, who altogether execute 68.4 million CFD and spread bet trades annually ( ). Negative balance protection is now mandated under ESMA rules that went into effect in 2018. The broker’s dealing desk acts as the initial counter-party on all CFD trades and spread bets but pricing is automated through the platforms, reducing conflict of interest potential. Unlike some of their competitors’ platforms, Next Generation does not have a built-in tool for analyzing trading activity. The ability to drill down into one’s trading activity beyond the basic metrics can be invaluable to all traders.
It remains at a set distance from the current price, allowing you to lock in profits. Here you can specify the price at which a position will be closed if the market moves adversely. These range from basic trend line and channel drawing tools to a variety of Fibonacci and Gartley tools. Again these are visually represented beneath the chart making them easier to use and understand.
The applicant can now decide if they want to continue to live account registration. The applicant can now click on Continue to complete the process. With leverage, the trader will only need to deposit a percentage of the full value of a position.
In this day and age, an online broker that does not place a high priority on addressing the needs of its customer in an efficient and satisfactory manner may be doomed to failure. Contact options cover all the bases, with email for clients and prospective clients, 24/5 local phone support, and comprehensive FAQ and support libraries. Live chat can also be launched from within the Next Generation platform, which is very convenient. Chat waiting times averaged 30 to 40 seconds during several contact attempts. The broker also runs 13 satellite offices on 4 continents to support licensed operations in other venues. Twitter and Meta accounts were filled with up-to-date comments and active client interactions.