CMC Markets

CMC Markets Review: Is CMC Markets Broker Good?

Broker overview and general information

CMC Markets is a trading name operated by CMC Markets Germany GmbH, CMC Markets UK plc and CMC Spreadbet plc. The company is a brokerage founded in 1989 by Peter Cruddas, who initially operated as Currency Management Corporation and focused on Forex trading. In 2000, the company expanded into spread betting and CFDs (contracts for difference), which led to its rapid growth and popularity among investors worldwide.

CMC Markets was listed on the London Stock Exchange in 2016 and is a member of the FTSE 250 index, reflecting the company's sound financial position. CMC Markets also has over 310,000 clients worldwide.

Broker Licensing and Regulation

If you ask whether CMC Markets is good or not, you must first consider the license factor. The broker has the following licenses:

• CMC Markets Germany GmbH is a company licensed and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) under registration number 154814.

• CMC Markets UK Plc and CMC Spreadbet plc are registered in the Financial Conduct Authority's Register of Companies under registration numbers 173730 and 170627.

CMC Markets Products and Services

Trading products

• Forex
  Trade over 330 currency pairs, including majors like EUR/USD, GBP/USD, and USD/JPY, all via CFDs (contracts for difference) with competitive spreads and low margins.

• Indices
  Trade CFDs on over 80 global indices, including the UK 100, US 30 and Germany 40. Users can access these indices with competitive spreads.

• Commodities
  Trade over 100 underlying assets including Brent Crude Oil, West Texas Intermediate, Gold, Silver and Natural Gas, all with tight spreads and flexible pricing.

• Shares
  CFDs on over 10,000 stocks from 23 countries worldwide, including Lloyds Banking Group, Tesco, Apple, Facebook and Tesla, with competitive commissions and margin rates starting at 20%.

• Treasuries
  Trade CFDs on over 50 debt instruments such as bonds, guilds and notes with margin starting at 20%.

Trading Platform

CMC Markets offers two main types of trading platforms:MetaTrader 4 (MT4)andNext Generation PlatformOf the broker himself

1. MetaTrader 4 (MT4)

   • MT4 is a widely known trading platform in the financial markets. It is popular for technical analysis, using Expert Advisors (EAs) for automated trading, and using advanced charting tools. Brokers add extra features to MT4 such as one-click trading and a wide range of trade orders. It is supported on Windows, iOS, and Android.

2. Next Generation Platform

   • The Next Generation platform is a web and mobile trading platform developed by CMC Markets itself. It supports over 12,000 assets including Forex, Indices, Stocks and Commodities. It has comprehensive graphical tools such as real-time charting, over 40 indicators and analytical tools, and powerful portfolio management functions. It supports both web and mobile apps.

CMC Markets Broker Account Types

The broker offers two account types: a real account and a demo account only, with spreads for Forex trading starting at 0.25 pips.

Deposit and Withdrawal Review

Deposit

Deposit channels

• Credit/Debit Card

• Online Banking

• Bank Transfer

Limitations

• No cash or checks accepted.

• We do not accept American Express or Diners Club.

• A credit/debit card or bank account in your own name is required.

Deposit Fee

• There are no fees for UK deposits.

• There may be other fees such as overnight holding charges.

• Fees may vary by bank or card provider.

Withdrawal

Withdrawal Fee

• There are no fees for withdrawals using credit/debit cards or traditional bank transfers.

• There may be a fee for international bank transfers.

Withdrawal time

• Credit/Debit Card Withdrawals:The time frame depends on the card issuing bank. Some banks may process within one hour, while others may take up to 5 business days.

• Standard Bank Transfer Withdrawal:

  • Local Banks: 1-2 business days

  • International Banks: 3-5 business days (subject to UK bank business hours)

Support and Customer Service

Head office (UK)

• Address: CMC Markets UK plc 133 Houndsditch London EC3A 7BX

• Telephone: +44 (0)20 7170 8200 24/5

• Email:[email protected]

CMC Markets Review: Pros and Cons

Pros

• Have a reliable license

• Diverse trading product portfolio

Cons

• There is little information about trading conditions on the website.

• No clear deposit and withdrawal fees are specified.

• No live chat for customer support.

• The website only supports English.

Broker Overview

CMC Markets is one of the brokers regulated by the Financial Conduct Authority (FCA), the financial regulatory body of the United Kingdom. The broker's strengths lie in its wide range of investment products, covering many asset classes, and its extensive customer support and educational resources, helping investors get the information and support they need to make informed decisions.

However, this broker does have some downsides to consider, such as the lack of clear information on account types, prices, and trading conditions on the website, the lack of live chat for customer support, and the website’s support page being available only in English.

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CMC Markets Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide on the broker that suits your needs.