July 06, 2020

Top Forex Brokers

cmcmarkets Review

CMC Markets latest Updates and Comparison

Regulated by FCA, CMC Markets is one of the first forex brokers to provide trading services for anyone and everyone interested. There are over 330 currency pairs available including all major pairs. At the moment of the review, the broker didn’t offer any bonuses or promotions for new or exciting traders. CMC Markets UK plc (173730) and CMC Spreadbet plc (170627) are authorised and regulated by the Financial Conduct Authority in the United Kingdom.

Shares Magazine has awarded CMC Markets with “Financial Service Provider of the Year 2016” and “Best Online Trading Platform 2016" by Shares  Awards 2016. There are other awards listed on their website, received over the years from various trading resources and magazines. The broker’s website, however, is rather confusing to navigate through.

Security of funds

Under our FCA obligations the broker complie with Client Assets (CASS) rules to ensure all client funds are protected.  CMC Markets distinguishes your money from their own and hold it in separate bank accounts.

The Financial Services Compensation Scheme (FSCS) protects eligible claimants up to £50,000 in the event that the broker is unable to meet the financial obligations.

For new traders

  • One of the established industry leaders
  • Three decades of trading know-how
  • Award-winning customer service
  • Highly-regarded trader education
  • Advanced risk management
  • Tax-free spread betting profits
  • No minimum deposit

For experienced traders

  • Award-winning trading platform
  • Wide range of charting tools
  • Fast, automated excecution
  • Expert news & analysis
  • Competitive spreads
  • Advanced trading tools
  • Tax-free spread betting profits

CMC Markets web and mobile platforms

Trading Platform

 

MetaTrader 4 

MetaTrader 4 (MT4), developed by MetaQuotes, is one of the most popular forex trading platforms worldwide. In addition to FX, you can also trade CFDs across a range of popular indices and commodities.

MT4 allows you to use automated programs called Expert Advisors (EAs), which monitor the markets and can be set to trade on your behalf. You can build your own program or use an existing EA.

  • Create an account for free – no minimum deposit required
  • 30 years' industry experience
  • Listed on the London Stock Exchange
  • Extensive educational and risk-management tools

MT4 features & benefits

CMC Markets is pleased to offer the MT4 platform - the most advanced and wanted platform online today. 
​Discover the benefits of trading on MT4:

  • Get competitive spreads in line with our Next Generation platform
  • Automate your trading with trading robots (Expert Advisors)
  • View and copy other traders’ strategies
  • Analyse the markets with a range of advanced chart types, indicators and drawing tools
  • Download free MT4 indicators and add-ons to enhance your suite of trading tools
  • Configure your setup and choose from over 22 languages
  • Trade on the move with the MT4 app for iPhone or Android devices

CMC Markets Account Types

The broker reviews its account types, differences and advantages of each. You have to choices “Fixed Risk Account” and “Regular Account”. With fixed account traders have access to guaranteed stops. The feature is not free and you have to pay an extra for it.

CMC Markets Payment Options

Payment methods are very scarce with just credit card and wire transfers accepted. Minimum deposit requirement is $1 at CMC Markets, however the broker suggests depositing $2,000 for better results. What do we say about it? Newbies, don’t even think about depositing so much! As for professionals, try the broker with couple of hundreds first; see if there is a good chemistry between you two.

CMC Markets Dynamic charting capability

Award-winning charts provide a host of features to support your chart analysis, including multiple chart types, over 80 technical indicators and drawing tools, a pattern recognition feature and our chart forum community.

Trading Conditions

Leverage is up to 500:1

Trading instruments: Forex, Indices, Commodities, Cryptocurrencies, Shares

Margins from just 0.20%

100% automated execution

Share CFD commissions from 0.10%

Extensive suite of risk management tools

FX pair Min spread (pts) No. of CFDs per lot Min lots Max contract size (lots) Margin rate
AUD/USD 0.7 100,000 0.01 40 5%
EUR/GBP 1.1 100,000 0.01 20 3.3%
EUR/JPY 1.5 100,000 0.01 20 3.3%
EUR/USD 0.7 100,000 0.01 40 3.3%
GBP/USD 0.9 100,000 0.01 10 3.3%
NZD/USD 2 100,000 0.01 20 3.3%
USD/CHF 1.5 100,000 0.01 20 5%
USD/JPY 0.7 100,000 0.01 40 5%

 

Risk management

Extensive range of risk-management features to help you manage trading risk effectively, helping to secure potential profits and minimise losses. If you want 100% certainty that a trade will close at an exact price if it moves against you, this forex broker offers guaranteed stop-loss orders (GSLOs) for a premium. The premium is refunded in full if the GSLO is not triggered.

CMC Markets Customer Support

When seeking help, you can get in touch with the broker’s representatives via email, fax, online chat or phone. There are some local phone numbers listed on the CMC Markets website.

There is quite a collection of educational materials on the site, which is useful for both beginners and expert traders.

How was the rating of CMC Markets performed compared to other brokers? 

This 2020 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on CMC Markets FX broker performance and features. 

Overall our online CMC Markets review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online CMC Markets or you find inaccurate details CMC Markets broker review please get in touch with us and the changes will be applied.