Chat waiting times averaged 30 to 40 seconds during several contact attempts. The broker also runs 13 satellite offices on 4 continents to support licensed operations in other venues. Twitter and Meta accounts were filled with up­-to-­date comments and active client interactions. Next Generation does not have back testing capabilities, forcing some account holders to use MetaTrader 4, which is inferior to the home­grown platform in other ways. The same holds true for an API interface that permits the use of more sophisticated trading platforms that support algorithmic and automatic trading routines. Client positioning data embedded within the proprietary software is an excellent feature that could have been enhanced if social or copy trading was also available.

Access to this feature alone might entice a serious trader to open a live account with CMC Markets. Many resources can be accessed directly through the website while news sources can be filtered by region and asset class. If there is one criticism, it would have to be regarding the lack of a dedicated search function or well-organized archive, which makes it difficult to find many topics.

CMC Markets is a publicly-traded company on the London Stock Exchange. It has the reputation of a relatively low-risk online brokerage for trading high-risk securities like forex and CFDs. CMC Markets offers full support for MT4 and its award-winning proprietary platform, Next Generation, which has a broad range of advanced order management, technical analysis tools, and a built-in Reuters news feed. Overall, the Next Generation mobile app provides a superior trading experience compared to other proprietary apps on the market and is more beginner-friendly than the MT4 mobile app.

CMC Markets Review – Frequently Asked Questions

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. We tested it and collected the options and costs in How to withdraw money on CMC Markets. Having a long track record, being listed on a stock exchange and being regulated by top-tier authorities are all great signs for CMC Markets’s safety. This calendar is powered by Thomson Reuters, and lists the most important data releases each day. Each event has a ‘market impact’ meter depicting the effect it might have on financial markets, and also links to previous and forecasted data for each indicator.

Grouped modules can be linked to Reuters’ market news, client sentiment, charts and order tickets for fast analysis. As you can see from the table, the trading costs are built into the spread, which is variable and gets wider or tighter depending on trade volume and market volatility. Online orders for US, UK, Japanese, and Canadian-listed company shares incur no brokerage fee for trades over $1,000 in value. To become eligible for an Alpha account, traders need to have a minimum account balance of £25,000.

Is CMC Markets the Right Online Trading Platform for You? 🚩

Overall, CMC Markets offers an average selection of platforms compared to other brokers, but the Next Generation is user-friendly and offers a number of impressive trading features. According to the assessment of CMC Markets, this brokerage company provides a demo account and a live account with no minimum deposit requirement to its clients. Being FCA regulated lends credibility, as do the extents to which CMC emphasizes account security. Negative balance protection gives clients peace of mind, and the premium for guaranteed stop loss execution is reasonable, given the account-saving risk management it provides in volatile market conditions. There are no unwieldy costs, and free withdrawal through wire transfer is a welcome feature.

• However, the platform feels outdated and some features are hard to find.
• Some of the top-tier regulatory authorities regulate this forex broker, and it is listed on the London stock exchange.
• The broker’s dealing desk acts as the initial counter-party on all CFD trades and spread bets but pricing is automated through the platforms, reducing conflict of interest potential.
• However, the trader should check with a qualified tax professional regarding this tax-exempt, which might differ as per the country of residence.
• This is a useful learning tool to minimize some amount of risk, especially with inherently high-risk trades like forex and CFDs.

If you want to use this feature, you should have a large screen monitor to use these features more effectively. The insight series and weekly outlook series provider board market coverage, and can be filtered by asset class. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated.

AvaTrade vs CMC Markets – Verdict

The live chat service had a wait time of 8 minutes when tested for this review. The broker’s excellent and easy-to-use mobile app lets you manage your cmc markets review account and trade from anywhere. The mobile app also has many useful features that include execution alerts and its client sentiment indicator.

AvaTrade charges an above-average $50 per month inactivity cost after three months, while CMC Markets deducts just $10 after one year. Trading is offered on both MT4 and its powerful, innovative proprietary platform that features numerous technical and fundamental analysis tools. According to our assessment of CMC Markets (a forex broker), they offer a wide variety of assets with well-diversified portfolios and low trading costs. They cater to traders of all experience levels, including institutional clients, and provide a comprehensive range of services to meet their trading needs.

76% of retail investor accounts lose money when spread betting and/or trading CFDs with CMC Markets. CMC Markets supports both its award-winning, proprietary trading platform (Next Generation) and the industry-standard MetaTrader 4 (MT4). The advantage of brokers offering third-party platforms such as MT4 is that traders can take their own customised versions with them should they decide to migrate to another broker. Additionally, CMC Markets offers its own platform (Next Generation), which is more beginner-friendly than MT4 and offers some excellent analysis features. Unique to residents of the UK and Ireland, CMC Markets offers a Spread Betting Account, which allows traders to access the financial markets and trade tax-free. Spread betting is allowed on Forex, indices, cryptocurrencies, commodities, shares, and treasuries.

Countries That Can Trade Forex with CMC Markets 🌎

These fees apply if you hold a CFD position open overnight and the rates vary depending on the asset and the market at that particular time. In terms of non-trading fees, the only one to note is an inactivity fee charged by the broker. The CMC Markets inactivity fee is $15 per month once you have been inactive for one calendar year. When it comes to making deposits and withdrawals from the broker, several methods are accepted. These include wire transfers, credit cards, and certain eWallets such as PayPal.

Demo account holders can switch to a live account from the demo dashboard, without having to re-register. CMC Markets is a reputable broker that has received high ratings in various categories, including being the best forex trading platforms. For traders who desire an automated trading experience, CMC Markets provides the MT4 offering, which has a more restricted product range than the Next Generation platform.

Live chat responses are instant and the same goes for phone calls. E-mails, on the other hand, are commonly responded in 24 hours or less. The platform has built-in Reuters and Morningstar news feeds, which are top-notch news services, along with an economic calendar covering a wide range of corporate and economic events. On the other hand, our review found that the cost of trading individual stocks by using the CMC Markets’ platform can be best assessed by using a hypothetical $2,000 investment that is held for 1 week.

CMC’s educational tools rank in the top-tier of what’s offered by competitors. An extensive trader’s library will get lower­-skilled clients up to speed quickly, though the technical and fundamental tutorials are beginner level and lacking in advanced instruction. A large share of educational resources is devoted solely to platform and software instruction, which is quite useful given Next Generation’s abundance of features.

CMC Markets is considered one of the top forex brokers in terms of competitive fees. One of the benefits of using this platform is the negative balance protection, which helps clients feel more secure in volatile market conditions. Both are available from the web platform; the former leads you to CMC’s ‘News and Analyses’ blog, while the Thomson Reuters news feed opens up in a separate window on the platform.

Additionally, any secondary buy orders processed on a trading day are limited to a value of $1000 per stock. Our assessment of online brokers has identified CMC Markets as a reliable option, with the added advantage of in-person assistance. In 2023, CMC Markets was recognized as the leader in 11 categories, demonstrating its commitment to providing exceptional trading experiences to its users. This website is using a security service to protect itself from online attacks.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Meta Trader4 has also won an award from the Investment Trends 2019. The award was for both email support and phone support in the UK and reflected user satisfaction with forex, spread betting and FX trading support. While there is no doubt the CMC Markets vision for their Apple-based mobile apps is grand, to date users say it isn’t yet delivering on that vision – not even close. With user review headlines with comments like “just ok” and “fails at the basics” predominant among more positive reviews, it is hard to get too excited about managing your CMC markets adequately account on the go. CMC Markets offers a well-balanced asset selection, outstanding order execution, and supports algorithmic trading. Since eToro serves its core trader base of millennial and GenZ traders who prefer casual, mobile social trading better, it takes an overall lead over CMC Markets as a broker.

The trader should also provide some of the information like their tax status and in some cases, this broker asks for a national insurance number from their client. Consider the information provided on the website according to your objectives, financial situation and needs. We are just factual information providers and are not making any suggestion or recommendation of a particular product. Do not enter any personal information as it would be made public and not provided to the bank or product provider.

However, traders should be aware of the high commissions on the commission-based account. Since CMC Markets operates in 70+ countries with different regulatory guidelines and varying products offered in particular regions, fees vary. However, overnight trading fees, inactivity fees, and spreads are charged as standard by the broker.

The ability to drill down into one’s trading activity beyond the basic metrics can be invaluable to all traders. Introductory guides to trading the wide array of products offered are also available along with a section comprised of videos devoted to trading strategies. A healthy roster of online webinars, offered through a partnership with Trade With Precision, fills the need for advanced topics, but there’s no archive of previous programs.

Any UK Forex broker such as CMC Markets is required to identify their customers who use their services provider because they comply with anti-money laundering regulations. They should adhere to the licensing conditional orders asked by the FCA. For this, the trader should manually provide the supporting documents to this broker. They need to include a proof of address and a government-issued ID to broker.

Although submitting these documents may take some time, it ensures the safety of all traders. Additionally, CMC Markets also provides the option of a joint account. Traders are given the option to choose their preferred trading platform. The MT4 platform is suitable for trading in commodities, forex, and indexes only.

The platform features advanced charting with 115 indicators/overlays, 12 chart types, and 35 drawing tools; highly customizable watchlists; client sentiment; and a streaming Reuters feed. https://traderoom.info/ Charts can be popped ­out to build and optimize complex desktop layouts. Clients who want to study long-­term trends will find price histories going back 20 years on major instruments.