I have tested CMC markets for a while now and I have to say that I am really happy with the service. The platform is really user-friendly and the customer service is excellent. I would definitely recommend CMC markets to anyone who is looking for a good online broker.
Summary CMC markets
A well-balanced broker who caters to new investors and traders alike. It might emphasize the trading products, but it's low entry thanks to an account minimum of 0 USD (or local currency).
CMC markets is a broker that charges zero commission and has a broad product offering of 12.000 unique instruments including stocks, ETFs, commodities, and bonds. For the traders amongst us, they provide CFDs, Forex, and more.
Come one, come some?
Investors and traders can create a CMC account if they are from one of the following countries listed below. Note, this list is not exhaustive though hence it is a good idea to go to CMC markets once in a while.
- Hong Kong
- United Arab Emirates
- United Kingdom
As of the writing of this review, the website is available in English, German, French, Italian, Norwegian, Polish, Spanish, Swedish and Chinese.
Industry awards & Our recognition
From an industry standpoint, CMC market has won Investopedia's Best Overall Forex Broker for 2020. However, from an investing-guides and review standpoint, its offering assures a well-balanced portfolio for investors & traders alike, to choose products fitting their needs best, at different times.
Regulation & Safety
CMC markets is regulated by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) & the UK Financial Conduct Authority (FCA).
Your money is kept safe as per Client Assets (CASS) rules that state all client funds are protected & your money is held separately from the company's bank account.
Finally, the Financial Services Compensation Scheme (FSCS) ensures you are entitled & protected to 85.000 British pounds, should CMC markets go bankrupt. This is, however, a very unlikely event and the FSCS serves as a final safety net.
Learn to trade at CMC markets
Education is the main priority with CMC markets, which is why it offers most, if not all, of its guides, webinars events, and videos for free, no login needed! The content varies from how to analyze a stock for beginners to day trading more complex products.
Customer service is key
Not only do CMC markets offer customer service, but they are also efficient and friendly whilst doing so. In our experience, they have kept up their promise on-site, which states that:
- 98% of calls are answered within 20 seconds
- Open whenever the market is
- Available to make you a better investor/trader
Next to the option to call, they also offer an extensive FAQ on-site, easy categorization of queries for quick assistance & an email address for those with specific queries but limited on time.
Step by (baby) step
Next to improving your knowledge, CMC Markets also offers a free demo account to practice what you have learned. It's a cost and obligations-free way to experience their platforms and decide if this is the right fit for you.
CMC markets platform review
CMC markets has at least 90.000 active clients using their products. None of them are US based by the way, as they do not access clients from the united states. It's currently offering Next generation, MetaTrader 4 & a mobile trading app.
Next generation platform
The next-generation trading platform is the broker's default web desktop platform offered to all clients. It has a multitude of useful features ranging from simple sentiment (how many clients bought this instrument) to advanced price pojection. As an investor, this is most likely the platform to choose while over time familiarizing yourself with more trader-like views.
Nowadays, lots of brokers offer the possibility to trade through MetaTrader 4. If you are familiar with algorithmic trading or similar advanced trading features, this platform is for you.
Mobile trading app
The mobile trading app offered by CMC markets is a condensed and optimized version of their next-generation platform, specifically made for mobile. It has been simplified and minimalized to the extent that assists you to navigate and invest easily and confidently.
Cost & Commissions
Below you can find a brief overview of the costs of a typical CMC markets account:
- An inactivity fee is charged for accounts inactive for 12 months, ranging from 10 English pounds in the UK, to 15 Singaporean Dollars in Singapore.
- Market data (live prices of instruments) are free, except for specific trading products, which require you to opt-in.
- Deposit is free
- Withdrawal is free
Conclusion of CMC markets review
CMC markets is a strong choice if you live in any of the countries it accepts clients in. You can enjoy high security, free education, problem-solving customer service, variety in platforms & low costs. Therefore, this broker received 4.5 out of 5 stars from us!
|Broker name||Type||Review||Rating||Broker site|
|CMC markets||Investor & Trader||This page||4.5||Visit broker|
If you choose a trading broker, please remember: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.