CMC Markets Review
For UK Traders
!! Regulator Warning !!
CFD trading involves complex financial instruments unsuitable for all investors. Before trading gold CFDs, carefully assess your financial situation, knowledge level, and risk tolerance. Never trade with funds you cannot afford to lose
CMC Next Gen platform is hard to use especially for beginners. They should simplify it. I like that their slippage is low & execution is fast.
CMC is a good forex broker for carry trades. They are very transparent with their overnight swaps
Withdrawing funds is so difficult at CMC Markets and they always widen their spread or just lower leverage when it suits them (noticed this on WTI and AUS 200) and there is no transparency.
CMC Markets has everything. I lie the fact that I can trade any asset class with them and their beginner education is top notch
Simply the best! a no-nonsense full service broker that brings their A game to the table. I like their low trading fees, beginner education and extensive range of CFDs and spread bets.
CMC Markets is an FCA UK Regulated & Publicly Traded CFD & Spread Bets Broker offering the MT4 Platform, No Minimum Deposit & Tight Spreads
| 👨 Broker | CMC Markets UK PLC. |
| 👨 Trading Name | CMC Markets |
| 👨 Accepts UK Traders? | Yes |
| 📈 Publicly Listed Company | Yes |
| 📈 CMC Markets Share Price | 326.07 GBP |
| 📅 Year Founded | 1989, London |
| ⚖ Regulators | FCA UK |
| ⚖ Reference No. | 173730 |
| ⚖ FSCS Compensation | Yes |
| 📈 CFD Instruments | Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Share Baskets |
| 📈 Spread Bet Instruments | Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Share Baskets |
| 🚀Leverage | 1:30 |
| 🔎Auditors | - |
| 💻 Platforms | MT4, MT5, CMC Next Gen Platform |
| 📋Account Types | Spread Bet Account, CFD Account, FX Active Account |
| 💰 Minimum Deposit | $0 |
| 💰 Minimum Withdrawal | $0 |
| 📞Live Support | 24/5 |
| 🏖️ Inactivity Fee | $10 |
| 😭 No. of Traders That lose Money | 68% |
| ✅Reason To Trade | |
| ❌Reason To Avoid | |
Regulation -5/5
CMC Markets is a spread Bet & CFD provider regulated by the Financial Conduct Authority (FCA) United Kingdom.
CMC Markets UK is a member of the Financial Services Compensation Scheme (FSCS) .
CMC Markets is available in the UK to both retail & professional/corporate clients/
Can CMC Markets Be Trusted?
Yes, CMC Markets can be trusted. CMC Markets UK PLC is listed on the London Stock Exchange & CMC Market shares are publicly traded. CMC Markets shares are also a part of the FTSE 250 index.
CMC Markets was founded in London in 1989 & has been in operation since then.
Deposit & Withdrawals - 3.8/5
What is CMC Markets UK Minimum Deposit?
In the UK, CMC Markets minimum deposit is $0 making it possible to deposit little amounts until your account balance is sufficient to open a trade.
How Do I Make A Deposit?
CMC Markets offers GBP base currency which will help you avoid currency conversion fees on GDP deposits.
Deposit methods are Bank Transfer & Credit/Debit Cards.
To make a deposit, login to the CMC Web Trader and click on funding. Select your preferred deposit method, enter the amount & submit.
CMC Markets deposits are instant so they will appear in your trading account immediately.
Deposits via credit card will attract a 1.5% deposit fee.
How Do I Withdraw From CMC Markets?
To make a withdrawal, visit login to the CMC Markets Web Trader, click on withdrawal, select your preferred method, enter the amount & submit.
Does CMC Markets UK Charge Withdrawal Fees?
No, CMC Markets does not charge withdrawal fees.
Range of Accounts - 5/5
Which CMC Markets Account Types Are Available?
1. Spread Bet Account
CMC Markets UK offers Spread Bet Accounts with $0 minimum deposit.
On the Spread Bet Account you can trade 12,000 instruments including 330+ forex pairs, 9,000+ Shares, 80+ Indices, 100+ Commodities, 50+ Bonds & 6 Options.
Spread betting differs from CFD trading in that spread betters determine how much they gain/lose for every pip movement.
2. CFD Account
CMC Markets UK offers special CFD trading accounts with $0 minimum deposit, where you can trade 12,000 instruments including 330+ forex pairs, 9,000+ Shares, 80+ Indices, 100+ Commodities, 50+ Bonds & 6 Options.
On CFD accounts every pip movement sees you gaining/losing around $10 per standard lot and this is fixed/cannot be changed.
3. FX Active Account
The FX Active Account offered by CMC Markets UK, is a raw spread account where spreads start from 0.0 pips..
On the FX Active Account, you don't pay any spreads when trading EUR/USD, USD/CAD, GBP/USD, AUD/USD, USD/JPY & NZD/USD/
In exchange for the raw spreads, you must pay fixed $2.5 per side commissions every time you trade.
The FX Active Account also offers 25% rebates so every time you close a trade, 25% of the spread charged is refunded to you.
Account Management - 4/5
What is CMC Markets UK Leverage?
UK traders can access leverage up to 1:30 at CMC Markets.
How To Open A CMC Markets Account
1. Choose Between MT4 or CMC Trading Platforms
CMC Markets only offers the MT4 & CMC Proprietary trading platforms so you must choose which platform you intend to use.
CMC Accounts will not work on MT4, but MT4 Accounts can work on the CMC platform.
After choosing a platform, proceed to enter your email address & create a password.
2. Choose An Account Type
Select either the Spread Bet, CFD or FX Active Account.
3. Choose Your Account Currency
Select your desired account currency. The available account currencies are GBP, EUR, USD, Swiss Franc, Norweigan Krone & Swedish Krona.
4. Enter Your UK National Insurance Number
Enter your UK National Insurance Number, then fill in your address & other personal details. After this you will be required to answer a few questions about your trading experience then a demo account will be automatically created for you.
5. Upload Your ID Documents
At this point, you would have been redirected to the CMC Web Platform where you will see your demo account with $10,000 virtual funds
To activate your live account you need to verify your identity. The accepted documents for identity verification are your Drivers License, National ID Card or Passport.
To verify your address, the accepted documents are your Bank Statement, Utility Bill, Mortgage Statement, Credit card Statement or Drivers License.
Range of Markets -5/5
1. Forex
You can trade CFDs & Spread Bets on over 330 forex pairs using leverage up to 1:30.
2. Shares
You can trade CFDs & Spread Bets on over 10,000 shares including those that make up the FTSE 250 as well as popular U.S. shares.
3. Indices
CMC Markets has NASDAQ indices as well as 79 more popular indices which you can trade as CFDs or Spread Bets.
4. Commodities
You can use CFDs or Spread Bets to trade over 100 commodities (cash & forwards) at CMC Markets UK.
5. ETFs
You can access markets on over 1,000 ETFs using CFD cintractsa or Spread Bets.
6. Treasuries
You het access to CFDs & Spread Bets on over 50 Fixed Income instruments including U.S. Bonds.
7. Share Baskets
You can trade CFDs on a collection of shares that fall under the same theme (such as cybersecurity, Electric Vehicles, etc.). When you speculate on the Share Basket, you get exposure to all the shares in the basket at once.
8. OTC Options
You can trade over 6 OTC Options on EU & US stock indices CFDs/Spread Bets at CMC Markets UK. These options are cash settled.
CMC Markets Fees - 4/5
1. Spread
CMC Markets spreads are not high, instead they can be said to be competitive (meaning within the same range as industry averages).
On the CFD Trading & Spread Bet Account types, the spread starts from 0.5 pips. The EUR/USD spread averages at 1.08 pips & GBP/USD spread averages at 1.3 pips.
If you open the FX Active Account, you get 0.0 pip spread on 6 major currency pairs & a 25% spread discount on 300 FX pairs.
2. Commission
CMC Markets charges a $2.5 per side commission when you trade forex on the FX Active Account.
You also pay a $10 commission on US Share CFDs & $9 commission on UK share CFD trading.
3. Rollover Fees
CMC Markets does not offer swap free trading in the UK so you pay a fee to rollover your CFD position to the next day.
Trading Platforms - 4.5/5
1. CMC Markets Next Gen
CMC Markets Next Gen is a proprietary trading platform developed by CMC Markets exclusively for its clients. The Next Gen platform is available as a web trader & a mobile app.
The CMC Markets Next Gen platform is quite advanced with useful tools like automatic chart pattern recognition scanner.
2. MetaTrader 4 & 5
CMC Markets offers the MT4/5 platforms on mobile, web & desktop.
3. TradingView
CMC Markets has TradingView as part of its platform lineup, and you can access advanced charting when you connect to it.
Trading Tools - 3.5/5
1. Guaranteed Stop Loss
The CMC Markets Next Gen trading platform has guaranteed stop loss on specific instruments. With this tool you can avoid slippage but you must pay a premium in exchange for the guarantee.
2. Client Sentiment
This tool shows you what percentage of CMC traders are buying or selling off an instrument at any given time. Client sentiment is available on the CMC Next Gen platform.
Customer Support -4/5
CMC Markets UK assigns Personal Account Managers to every trader and they reach out to you once you create a profile by registering with CMC Markets.
CMC Markets UK also has 24/5 live chat which is the quickest way to get contact them.
Telephone support (not toll-free) is also available alongside email support.
There is educational support on the CMC Markets Learn Hub, where the articles teach you how to trade spread bets & CFDs.
You also get a trading guide which is basically a bunch of articles on trading but this one has greater depth.
We noticed that the CMC Markets learning hub has no video articles which would have made the learning prices easier.
There is also a free CMC demo account where you can experiment with the markets & learn to trade in a virtual market.
Final Verdict - 9/10
CMC Markets is one of the Best Forex Brokers For Beginners because of their customer support, zero minimum deposit & competitive fees.
Expert traders will also find the Raw Spread & rebates on the FX Active Account useful, especially when executing automated trading strategies.