The mobile app comes with 25+ technical trading tools, fifteen drawing tools, and five chart types. The mobile trading delivers a similar level of performance as the web version with the ability to autosave a chart and multi-chart view for mobile devices with a big screen such as iPad. Traders can try out the mobile app experience using a free to download demo account.
Trading features
“Trade with leverage as high 1:200 (professional traders) and take a look at a wide selection of add-on trading features”
UK residents are provided with a maximum leverage of 1:30 which is in compliance with FCA regulation and 1:200 for non-UK customers. CMC Markets has gone above and beyond to satisfy its clients demand trading features. Traders are offered a variety of tools to manage better their trade entry, exit, and risk. Examples of these tools are:
- Guaranteed stop-loss orders (GSLO) – This stop loss function is similar to the ordinary stop loss however with the GSLO you are guaranteed that your open orders will close in case of volatile price movements. This is a paid service.
- Price ladder – Using a larger spread, traders are able to enter trades that have high prices compared to the first bid and ask price.
- Hedging – Traders are able to open both a buy and a sell trade of the same asset.
- Boundary orders – This orders apply when the market is volatile and assist to put a limit to what extent would you like your order to be picked. If not within limits, the order is rejected.
- Unrealized profit – Traders can open trades using profits which are from open orders yet to be closed.
Commissions & Spreads
“Competitive fixed spreads from as low as 0.7 for forex pairs”
CMC Markets uses a fixed spread for almost all trading instruments with the exception of some shares which they charge a commission for each trades entry and exit. The prices for the FX pairs are least with the most traded pairs, such as EUR/USD which has a spread of just 0.7. However, the spreads increase with exotic pairs such as the USD ZAR which have a spread of 85 pips. Indices and commodities have spread from as low as 0.3 points. Shares attract both a fixed and a variable spread.
CMC Markets charges £10 inactivity fee for accounts that have no trading activity for a consecutive period of two years. The amount is deducted from the account balance.
*All of these figures are taken directly from the broker’s website data.
Bonus & Promotions
“Monthly rebates and refer a friend bonus for Australia, New Zealand, and Singapore traders”
CMC Markets is bound by its regulator not to run any bonus programs or promotions within Europe. However, there is still a rebate program that means to reward loyalty and trading activity. The rebate compensates back traders money based on the monthly trading volume. The rebates apply to the following asset classes; forex, indices, and commodities. For forex, traders are required to meet a monthly trading volume of 50m to become eligible for the rebate. The rebate benefits are calculated based on tiers and traders with high trading volumes get more rebates. Traders who trade on indices are required to meet a monthly trading volume of 80m while commodities traders are required to meet a monthly trading volume of 10m. The rebate program has more terms and we recommend you visit their terms and conditions page to check these out.
Outside Europe, CMC Markets runs refer a friend bonus. This bonus is run by Singapore, New Zealand, and Australia entities. Through this bonus, traders and the referee can earn $250 by referring a friend who opens an account with CMC Markets. There is no limit to the number of people you can refer.
Customer support
“Multilingual customer support available on a 24/5 basis. Help available through in-depth FAQ’s, Live Chat, email, and phone”
CMC Markets runs a 24/5 customer support program. Traders can get in touch with the customer support team via the following means; Live Chat, telephone support (+44 20 7170 8200), email (clientmanagement@cmcmarkets.co.uk), and a physical visit to their office (map).
The customer support team is very responsive and they will get back to your inquiries within a short time. From our experience, once we initiated the live chat, it took less than a minute to have the customer support online. They showed the highest level of professionalism during the course of the chat and were empathetic. The same applied to the email sent to them to check out some of their services. It took less than 15 minutes before they replied by email and we were given an option to open the ticket once more if the solution wasn’t satisfactory.
Customers can also get help by visiting CMC Markets Twitter page or their Facebook page. You will get additional guides and posts on these two social media channels. Alternatively, you can visit their website support section for the frequently asked questions (FAQ). Areas covered under this section include; getting started, Charges FAQ, password reset and much more topics.
The customer support is available in the following languages, Polish, French, Deutsch, Austrian, Spanish, Svenska, English, Italian, and Norwegian.
Research
“CMC Markets provides traders with a live calendar, real-time market updates, and market commentary section”
CMC Markets provides its customers with the latest market news and reports on their dedicated news and analysis section. In this section, you will find market commentary by CMC Markets financial experts, chart analysis, weekly outlook, technical analysis, and fundamental analysis. This section covers the following asset classes: forex, stocks, and indices.
Traders can utilize the CMC Markets customizable economic calendar to keep track of the upcoming market’s events. The economic calendar can be configured to give comparisons between key indicators, view dashboards, filter releases, and much more. You can view the news impact on the market highlighted in green, red and yellow.
CMC Markets clients are able to access the live news directly on the trading platform; therefore, you will get real-time Reuters news and trade macroeconomic news in real time.
Education
“E-books, videos, and webinars for beginners, intermediate, and veteran traders”
CMC Markets has a detailed education section that is suitable for both newbie and experienced traders. The educational materials are in the form or articles, e-books, videos, webinars, and seminars. For instance, in the forex section, there are articles that explain what forex is, forex strategies, and videos that cover common trading mistakes, and support and resistance. The educational section has beginner, intermediate, and advanced sections.
Trading experience
“Novice, intermediate and veteran traders will find this broker resourceful”
CMC Markets is an online broker that has taken a different approach from its competitors and its efforts seem to have paid off. Its unique selling point being the ‘Next Generation platform’ seems to be a key attraction to all trader profiles. While this trading platform seems to look complex on the outside; it becomes easier when you have a spin on it. Even easier when you use a mobile app. Other aspects of this broker have impressed us too, such as its excellent customer service, rich educational material, and fast deposit and withdrawal processing times.
FAQ
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Is CMC Markets regulated?
Yes, the broker is regulated by four leading regulators FCA included.
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Where is CMC Markets based?
CMC Markets is based in 133 Houndsditch, London EC3A 7BX, United Kingdom.
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How does CMC Markets make money?
CMC markets makes money by charging a spread on asset ask and bid prices.
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How do I deposit in CMC Markets account?
You can make a deposit to CMC markets account via debit card, credit card, and bank transfer
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What is the minimum deposit for CMC Markets?
There is no minimum deposit. You are required to fund your account with an amount that will support to place a trade.
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How do I withdraw money from CMC Markets?
Log in to your account and click on the payment icon, then select withdraw.
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What is the max leverage in CMC Markets?
The maximum leverage is 1:30 for UK residents and 1:500 for non-UK.
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How do I open an account with CMC Markets?
Opening an account is a two-step process. Fill out a registration form and fund your account. Non-UK traders will be asked for additional verification documents. After submission and verification, the account will be ready.
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Does CMC Markets use MetaTrader?
Yes, the use MT4 and their proprietary platform.
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What is CMC Markets leverage?
The broker depends on the country and the asset class. FX has 1:30 leverage, shares and treasuries 1:5, indices and commodities are 1:20 for UK residents.
Conclusion
“Highly regulated broker across multiple jurisdictions”
CMC Markets is a highly evolved broker with a wide range of trading tools, an advanced trading platform with features, not offered by other brokers and some competitive trading conditions. The fact that this broker is so highly regulated across multiple jurisdictions speaks volumes as to its seriousness.
