CMC Markets Broker Review 2024: a good Forex Broker?
CMC Markets is regulated by top-tier financial regulators in multiple jurisdictions, including the UK and Australia. The company is also listed on the London Stock Exchange (LSE) since 2016. These factors make CMC Markets trustworthy and have a low-risk rating. Under the FCA’s Client Money rules, CMC Markets is required to segregate client money (unless you agree otherwise) from CMC’s own funds. The funds held in segregated bank accounts do not belong to CMC and will be held in a way that enables it to be identified as client money. We earn commissions from some affiliate partners at no extra cost to users (partners are listed on our ‘About Us’ page in the ‘Partners’ section).
The breadth of charting capabilities and the broad range of trading instruments will suit traders of all levels and even institutional https://traderoom.info/cmc-markets-a-wholly-reliable-brokerage/ investors. Users of the company’s premium Alpha tier save 5% to 40% on spreads and can earn 3% interest on available account equity. The Next Generation platform promises fast, 100%-automated executions with multiple order types.
This includes countries throughout Europe including Denmark, France, the United Kingdom, Italy, Norway, Poland, Sweden, Spain, and others. In general, the review team recommends CMC Markets to the more novice of traders as they would benefit from its wide range asset offering. Much like the CFD Account, the Corporate Account allows for more profit regardless of the rise or fall of the markets.
- Information is accessible and easy to locate, whether you seek out educational materials, require customer service, or just want to get straight to placing trades via one of the trading platforms.
- To gather data, we sent a questionnaire to each of the 18 brokers, covering multiple areas critical to a forex trader’s experience.
- These video sessions range from roughly 30 to 45 minutes in length and also include technical analysis of the relevant charts.
- CMC Markets is a group of companies offering Forex trading services since 1989.
This makes them an excellent option for traders who wish to tread carefully and place profitable trades on a regular basis. CMC Markets trading materials are excellent for novice traders, who have limited knowledge around trading and intend to gather enough information around forex trading strategies and methods. It must be noted that the broker also offers trading videos, webinars, trading guides and a comprehensive glossary of different forex terms.
CMC Markets Regulation / Money Protection
The business support personnel themselves don’t really use their app because I have asked on numerous occasions on features, the answer was weak or did not meet my expectations. If I can find another platform that offers me good margin trading facilities with a lower commission, I would jump ship. The news section is quite terrible, and there’s no indication of the top movers on a particular market. For e.g. if I wanted to find out who are the top movers on the US market during a live session, nobody has been able to give me an answer. Educational resources and market research tools play a vital role in empowering traders with knowledge and insights to make informed trading decisions.
- Overnight financing costs are standard for the industry, and we found no hidden expenses that might surprise traders.
- With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
- This insurance scheme comes into effect when a broker faces bankruptcy or goes into administration, ensuring that clients (creditors) are paid.
- CMC has a market called weighted currency indices, which basket together one currency again many others.
- Traders can access daily market analysis, commentary, and insights from CMC Markets’ team of analysts and experts.
Is CMC Markets trusted?
CMC Markets is a regulated European Forex broker with 30 years of experience. The broker offers more than 10,000 trading instruments with narrow spreads and its own Next Generation trading platform. Moreover, CMC Markets also publishes daily trading videos on its CMC TV channel on YouTube, where the broker’s analysts share their trading ideas and the latest technical analysis of the markets. As an FCA regulated broker, CMC Markets needs to comply with CASS i.e. client assets regulation. As a result, when a trader opens a trading account with the broker, he/she is categorized as a retail client and their fund is held in separate accounts. Hence, every client’s fund is fully protected and not available or accessible by the firm’s creditors.
After completing this step, you’ll then be able to select an account type. The first step is to go ahead and open the main page of CMC Markets. You’ll be able to spot the Create Account button in blue at the top right corner. Keep in mind that the broker doesn’t provide services to residents from some countries. If you choose to mislead the broker by selecting a random country, you will fail to verify your account later on.
CMC Markets launches API Direct to give brokers and institutions better access
The introduction of these two instruments took CMC markets to new heights. A trusted reputation and strong regulatory backing are at the cornerstone of any successful broker. Having been around for more than three decades, CMC Markets understands the importance of both and has many elements in place to ensure traders feel safe and secure when trading. CMC Markets is a trustworthy company with excellent customer service. Today once again I was impressed by their professionalism, considering that most brokers on the market lack this kind of qualities.
Additionally, traders can also find ample information and details around CFDs, benefits of CFD trading, forex trading indicators, introduction to financial markets etc. A professional trader can provide you with useful information about a forex broker and also help you in analyzing their services and offerings. Here, we’ve analyzed the services and offerings of UK’s leading broker, CMC Markets. The broker provides exciting, advanced and innovative trading services and solutions to forex traders around the world. With more than twenty five years of experience in forex trading, the broker has won several awards and accolades for its platform, customer service and educational offerings.
What’s more, mobile apps can keep you up-to-date and close to the markets whenever you need them. The apps provided by this broker offer all the necessary tools for analyzing and managing your trading orders. In conclusion, CMC Markets emerges as a reputable brokerage firm with a strong regulatory standing, diverse asset offerings, advanced trading platforms, and robust security measures. The broker’s commitment to transparency, client protection, and innovation positions it as a competitive choice for traders seeking a reliable and feature-rich trading environment. CMC Markets offers technical analysis tools and charting capabilities on its trading platforms, allowing traders to conduct in-depth technical analysis of price charts, indicators, and patterns.
It’s a good choice for those who want to trade on tight spreads, with a platform built on exceptional tech. The customer support team plays a crucial role in resolving issues and providing appropriate answers to the queries and concerns of all the traders. With CMC Markets, you’ll never have any issues in getting in touch with their customer support team. The broker can be easily approached via live chat, phone, email and fax. On the other hand, the iPad app allows traders to make the most of their iPad’s big screen as it offers an intuitive layout, advanced forex trading charts and tools. With the Android forex trading app, traders can manage their open trading positions and view as well as trade on the basis of live streaming asset prices.
The proprietary Next Generation platform boasts advanced functionality and an attractive, user-friendly interface. I have compiled the table below to help you better understand the difference between the trading fees of CFC Markets’ two retail trading accounts and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large. CMC Markets offers 2 types of live accounts for trading CFDs; the CFD account and the Corporate account. Both account types are very similar in terms of their offerings, however, the CFD account is for retail traders and the Corporate account is for professionals.
Whether it be security, account types, spreads, or the number of instruments available, this broker does a good job in all the domains. The broker also offers its own proprietary trading platform known as the CFD Next Generation Platform. This trading platform provides a very user-friendly experience overall and is available as a web-based trading platform.
