As a CMC Markets’ client, your money is held separately from CMC Markets’ own funds. It is held in segregated client bank accounts distributed across a range of major banks, which are regularly assessed against our risk criteria. Under the BMA rules, retail clients must be provided with negative balance protection.
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With competitive pricing and almost 12,000 instruments spanning virtually every market and asset class, CMC Markets is a great choice for global forex and CFD traders. Furthermore, the CMC Markets Next Generation platform is powerful and versatile, with plenty of customization tools and configuration options. CMC Markets offers multiple apps for mobile trading, including MetaTrader, TradingView, its in-house Next Generation CMC Trading App, and CMC Invest for exchange-traded securities. For the purpose of this review, I focus on CMC Markets Next Generation, also known as the CMC Trading App mobile app, which supports over 12,000 markets, including forex, CFDs, shares and crypto. It’s always important to examine the average spread – rather than the minimum spread – when comparing spreads and trading costs across different forex brokers.
KYC Procedure for Account Creation and Depositing
Other ways CMC Markets https://traderoom.info/cmc-markets-a-wholly-reliable-brokerage/ increases the usability of its platform includes providing trading ideas via its OPTO trading intelligence news and research website. The website also features useful news and analysis, as well as an extensive ebook financial library and a Thomson Reuters economic calendar. Furthermore, you can find links to CMC’s YouTube channel known as CMC TV that features expert updates about significant market movements several times a week.
forex strategies
Customer support can be extremely important if you have a problem with a trade, so the importance of being able to contact your broker during market hours to resolve an issue cannot be stressed enough. In addition to webinars, the broker offers tutorial videos on how to use its platform, trading strategies, technical and fundamental analysis, portfolio management and other important information. Some of CMC Markets’ learning offerings are categorized below by the type of trader.
We recommend CMC Markets for their low fees with their commissions-free Standard Account and FX Active account, which has low commissions and discounts on spreads . There is no minimum deposit to get started and minimum slippage when trading. You can choose between CMC Next Gen Trading Platform which includes a guaranteed stop loss and MT4 which has automation features. CMC Markets is recommended for its high reputation for trust being regulated in more regions than most Forex brokers. Some brokers also demonstrated their platforms live via videoconferencing, and our experts conducted hands-on testing with live accounts to further validate the platforms’ functionality and user experience.
MetaTrader 5
I would recommend the Next Generation platform if you want a web platform that you can quickly start trading on. Both terminals achieve almost 100% core platform uptime, meaning the stability of both platforms is very high. CMC Markets offers leverage trading in line with respective regulatory requirements. The broker acts as the sole execution venue, not operating on an order book. We appreciate that the broker does not charge for deposits or withdrawals, though international transfers may come with a fee depending on the account and country.
- There is a fixed, low commission at $2.50 per $100,000 notional value traded.
- The margin requirement for forex starts at 3.34%, which means you only have to put up 3.34% of the full trade value.
- This transparent pricing model allows CMC Markets to secure the #1 spot in the Commissions and Fees category, again gaining a 5-star rating.
- It offers a broad range of tools and features suitable for both beginners and expert traders.
- Whilst these aren’t the fastest withdrawal times, they are in line with most forex brokers.
- The brokerage accepts deposits made in 10 different base account currencies, including GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, and SGD.
You can also trade CMC Markets’ exclusive forex indices that include the CMC USD Index, the CMC GBP Index and the CMC EUR Index. The broker’s proprietary trading platform also has a useful live chat feature for CFD accounts located when you log in under the Support, Live Help feature. The live chat service had a wait time of 8 minutes when tested for this review.
The Mobile Trading App is continuously updated to incorporate the latest technological advancements, ensuring that traders have access to cutting-edge tools and features that enhance their trading performance. For traders seeking detailed market insights, both Interactive Brokers and CMC Markets offer comprehensive research features. They provide daily market commentary and forex news from renowned sources like Bloomberg and Reuters, ensuring traders stay informed with credible information. Furthermore, both brokers feature a sentiment-based tool, allowing users to gauge the market’s mood using long or short position data. Additionally, Interactive Brokers and CMC Markets include an economic calendar to keep traders updated on major news events globally.
If there is one criticism of the platform, it is the lack of a dedicated search function or a well-organized archive, which makes it difficult to find certain stories. This CMC Markets trading platform review yields positive marks, despite some deficiencies. Although client sentiment is accessible, users can view current sentiment for “all” or “top clients” only.
CMC Markets trails other brokers when it comes to funding methods with just credit/debit cards, bank transfers, and PayPal support. Rollover costs apply if you are looking to keep a trade open beyond its expiry date. Executing a rollover causes your profit or loss from the original contract to be realized and a new contract to open at the mid-price, reducing the spread cost by 50%. Commissions for stock CFDs are also in line with other low-cost brokers, coming in at $0.02 on US shares and 0.10% on UK shares. The interest is calculated daily and paid into the account at the start of the following month.
The only exception to this rule at the EU entity are the CFDs on stocks where nominal commissions are charged per side on CFD trading accounts. In addition to its automation features, MT5 offers more advanced tools than its predecessor, including a greater number of timeframes and pre-installed indicators. The platform’s built-in features include an economic calendar and a depth of market display with level II prices to aid market analysis.
- This approach allows traders to select an account that aligns with their trading preferences without worrying about excessive costs.
- CMC Markets, established in 1989, is a leading forex broker offering a wide range of over 9,500 CFD products.
- The 12,000 available instruments span CFDs, forex pairs, indices, commodities, shares, and ETFs.
- Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004.
For Trading Platforms and Tools, both earn 5 stars; however, across 63 brokers on ForexBrokers.com, CMC Markets ranks #4 while FOREX.com ranks #7. This account type is ideal for those who engage in high-volume trading and require fast, efficient market entry and exit. The lower spreads are particularly beneficial in reducing overall trading costs, while the superior execution speeds minimize slippage, maximizing potential trading outcomes. Additionally, Professional accounts offer greater transparency in pricing and are compatible with high-frequency trading strategies, making them an excellent choice for scalpers and algorithmic traders. This setup ensures that professional traders can leverage market opportunities effectively, capitalizing on the precision and agility that Professional accounts provide.
The broker’s Next Generation platform was launched in 2010, winning multiple awards by 2014. All the traditional avenues are offered, including direct contact with the head office or international offices, plus a contact phone number and email. There is also a helpful live chat within the Next Generation trading platform.
