CMC Markets Review, Rating 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 we comply 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.
- Access over 10,000 financial instruments
- Trade CFDs on the multi award-winning platform
- Margins from just 0.20%
- 100% automated execution
- Cash rebates for high volume traders
- Share CFD commissions from 0.10%
- Extensive suite of risk management tools
60,082 spread betting, CFD and forex trading clients already trade with the broker
Powerful web and mobile platforms
CMC Markets is using its in-house web-based platform called Next Generation. The platform is well suitable for professional traders and offers wide range of innovative features. In 2013, Money AM has voted the platform as “Best Online Charts”.
New Generation offers customizable settings such as multiple timeframes, auto save, pattern recognition scanner and very advanced analytical charting capabilities. There is also, of course, mobile version of the platform accessible via your iPhone and iPad.
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.
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.
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.
Minimum spreads start from 0.7 pips for major currency pairs. For CFDs, there is a commission charge for every trade executed. The commission fee depends which country you are from and starts from 0.09% of the volume traded.
Margin starts from 0.20%. You have to maintain the minimum account balance in order to continue using this broker’s services. Leverage is up to 500:1.
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.
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 2019 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.
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