CMC Markets Review 2022: Scam Or Legit?

CMC Markets

$20

Min Deposit

0.0

Min Spread

2021

Foundation

+2

Broker Trusted Points

The CMC Markets company is registered on the London Stock Exchange and is an integral part of the FTSE 250 Index. Headquartered in London, the company has expanded its services in hubs like Sydney and Singapore. 

Introduced in 1989 by Peter Cruddas with the name Currency Management Corporation (CMC Markets). CMC Markets has been growing since its inception; it is a UK-based financial services company that offers traders services such as online trading of shares, CFDs, forex, etc. It is working under the name of CMC Markets UK Plc. 

With its evolution with time, the company’s name changed from Currency Management Corporation to CMC and then later was abbreviated to CMC Markets in 2005. In addition, the firm has been regulated by the Financial Services Authority (FSA) since 1992, which was earlier known as AFBD. 

Readers will have a lot to know about the CMC Markets through this article. Understanding a service provider before trading with them makes the experience worth investing in and boosts the trade. 

Is CMC Markets Legit? Check Regulation 

CMC Markets is a highly regulated financial company that operates under the regulations of the Financial Conduct Authority (FCA) with registration number 173730. Moreover, CMC Markets’ other branches are regulated by authorities such as the CMC Markets Germany is regulated by BaFin, having registration number 154814. 

Hence, the firm abides by the laws of the regulatory bodies Financial Conduct Authority (FCA) and ensures full security of trade and data. CMC Markets is a legitimate company and is not a scam. Traders can invest with the firm and trust the facilities offered to connect with global markets. 

In addition, it has its working in other countries as well like the CMC Markets Canada. Traders can visit the CMC Markets website and get all the information regarding the trade and services.

Pros and Cons

Investors who trade with CMC Markets have ample advantages with the company. CMC Markets works to bring the best out of their clients and have a successful trade in the financial markets. 

Pros:

  • Low forex fees
  • Trading platform 
  • Research tools 
  • Educational Material
  • Personal client services
  • Trading CFDs 
  • ETFs 
  • Automated trading
  • Suitable for beginners and professionals 
  • Award-winning company 
  • Advanced risk management
  • No minimum deposit 
  • Learn how to spread bets
  • Regulated
  • CMC Markets Mobile app
  • Tax-free betting 
  • Well established company 

Cons: 

With so many advantages, CMC Markets trading has a few disadvantages as well. Here are the cons of CMC Markets: 

  • Limited product portfolio 
  • High stock CFD fees

Trading Account Types?

CMC Markets allows the traders to register with them through their online website to have CMC Markets trading facility. After getting registered, they can choose the type of account to go live. They can have retail investor accounts, or professional accounts, whichever they feel comfortable with. In addition, they have the choice of trading instruments or trading CFDs or other derivatives available with the broker.

The CMC Markets has the following CMC Markets account types to invest in: 

Spread Betting Trading Account

The most popular account of CMC Markets is spread betting; traders go for this account type of CMC Markets to have a tax-efficient investing. In this account, the investors speculate on the price movements of various instruments globally. The account gives traders the right to enjoy a lot of facilities. 

It is available for retail investors accounts or professional trading accounts. 

They can bet on the rise and fall of prices in the market; in addition, there is no minimum deposit required to begin the trade. Below are the benefits of the trading account: 

  • Cash rebates available except for shares 
  • Demo account 
  • Negative balance protection for retail traders 
  • Account netting
  • Order boundaries 
  • Price depth ladder
  • Telephone trading 
  • Support during market hours 
  • Professional customer services
  • Analysis tools 
  • Trading platforms 
  • CMC Markets Mobile app

CFD Trading Account 

Contract for difference is a derivative agreement that could be traded with this CMC Markets account. Investors trade on the price movements of the underlying financial assets. With the CFDs, traders can benefit from the opening and closing price of the trade instruments. 

Similar to the above-mentioned account, CFD accounts could be accessed as professional or retail investor accounts.

These offer a number of benefits for the investors, such as they can start with a minimum of 3.3% of the full value of the market position to open a trade, have to pay no stamp duty on the profits earned from CFDs, and have tight spreads on the 11000 markets available. In addition, the investors can have the following advantages: 

  • Can take a position on the rise and fall of the market
  • Zero minimum deposit required
  • Demo account 
  • Cash rebates 
  • Negative balance trading allowed
  • Order boundaries 
  • Account netting
  • Hedging a physical position
  • Price depth ladder
  • Client support 
  • Telephone trading 
  • CMC Markets mobile app
  • Advanced tools 
  • Trading CFDs

Corporate Trading Account

Basically designed for the corporate traders who want to have CFD trading access for their business and be the market maker. The CMC Markets’ account has several advanced facilities to bring the best for corporate traders or businesses. Investors of such accounts have below listed facilities: 

  • Insights from an expert analyst
  • Insights from Reuters and Morningstar 
  • Advanced Charting
  • Guaranteed stop-loss orders
  • Manages risks
  • Allows market position on rising and fall of the market
  • No stamp duty is payable
  • Zero minimum deposit
  • Cash rebates except on shares
  • Negative balance protection 
  • CMC Markets Mobile app
  • Account netting
  • Order boundaries
  • Hedging of physical position
  • Price depth ladder
  • Telephone trading
  • Customer service
  • Trade platforms
  • Charting
  • CMC Markets trading tools
  • Alerts 

How To Open Account? 

Account opening is not a difficult process; traders can easily visit the official website of CMC Markets, www.cmcmarkets.com, and open their trading accounts. Below we have mentioned steps that are followed for opening an account with CMC Markets: 

  • After visiting the website, the first step is to click the start trading option at the top right. Traders then have to select the country they will be trading from and click the continue button. 
  • The next step is to register with an email id and a password, and then traders can choose from spread betting and CFD trading and click on the continue button for further process. 
  • Traders then have to fill in information like name, email, date of birth, address, and contact number. 
  • The fourth step is to answer a few questions regarding the employment status of the trader and experience in the financial market trading and click on the submit button. 
  • Traders receive an email link for verification through third-party video identification. There the clients are asked to show their documents and identity proofs. 
  • Clients have to also upload a residency verification document to the company. 
  • At last, traders have to wait for verification from the CMC Markets and agree to the terms and conditions to begin trading. 

Trading Platform

CMC Markets is a broker in the UK that has the world’s best trading platform to help investors achieve their desired goals. The trading platform of CMC Markets is designed for easy to use and powerful trading simultaneously. Moreover, these help traders in making strategies and analyzing the market. 

The generation trading platform of CMC Markets incorporates professional-grade features, security, lightning-fast execution, analysis, and support for all the market trading strategies. Thus, if traders use the services properly CMC Markets can act as a market maker.

CMC Markets has MetaTrader4, Webtrader, and Mobile Application softwares as a trading platform. These are the three most popular platforms used worldwide. 

CMC Markets’ safe trading platform makes it convenient for traders to invest and have market forecasts. The trading platform is unique and most preferred among market traders. Thus, making trade easy with the different trading platforms of CMC Markets broker. 

MetaTrader4 (MT4)

A trader can use the most popular trading platform, MT4, with CMC Markets. The advanced software was developed by Metaquotes in 2005 and has been widely accepted for its user-friendly interface. The technology can be used with all the financial markets and instruments accessible with CMC Markets. 

MT4 has the below-listed facilities to trade and predict the market changes:

  • Customizable 
  • Suits all trading style 
  • Thousands of indicators and signals
  • Micro lots from 0.01
  • Trading signals
  • Chart types 
  • Analysis tools
  • Automate trading with algos
  • Easy to download
  • Works with all devices
  • Intuitive  

Web Platform

The web platform or browser of the CMC Markets is the next-generation trading platform service that helps traders connect with the financial markets directly. It is a customizable web platform offered by the CMC Markets forex broker to invest and monitor the markets. The web browser works on devices such as laptops, systems, and mobile as well. 

CMC Markets clients can have the benefits such as: 

  • One-click trade
  • Customizable 
  • Multiple screens 
  • Time frames
  • Real-time trade 
  • Price alerts
  • Automated execution
  • Mobile trading 
  • History 

Mobile Trading Apps

CMC Markets is a broker known for its mobile trading application. Giving traders total control of their investments in the markets. Traders can visit markets anytime and anywhere they want through CMC Markets applications. Moreover, they have to just simply download it on their mobiles and customize it as per need. 

Mostly, traders have a CMC Markets android app, however, traders can have access to other mobile applications as well. This makes online trading easier and more convenient. 

Here we have its features: 

  • One-click trade
  • Instant notifications
  • Connects from market
  • Accessible 
  • Optimized charts
  • Client sentiment tracker 
  • Customizable dashboard
  • Topical watchlist
  • News and insights on market

Trading Instruments 

Having a wide variety to pick from has always been a satisfying factor in any field. With CMC Markets, traders can select their financial securities for trade from around 11000 complex instruments. Moreover, there are markets as well to trade and diversify the portfolio of the investors. 

Markets available with CMC Markets are:

  • Indices
  • Forex
  • Commodities
  • Shares
  • ETF trading
  • Treasuries 

Commission and Spreads

CMC Markets has no extra charges to take from its clients. They can easily invest and trade with the UK-based brokerage company and earn. The company does not aim to earn from their clients’ losses. CMC Markets has a commission on the trading of share CFDs when the clients enter and exit the market. 

Moreover, this depends on the country of residence of the client. For countries, there are different commission percent: 

UK = 0.10%

US = USD 0.02

Germany = 0.10%

Spain = 0.10%

France = 0.10%

Spreads are another charge that traders may have to pay for trading. The spreads are the difference in the buy and sell price of a trading instrument. Traders pay the spreads on their financial instruments to the broker. There are different spread charges for the instruments, like UK 100 has a minimum spread of 1; similarly, US 30 has a minimum spread of 2, etc. 

Leverage 

The leverage is the ratio of upliftment offered by the brokers to enhance the trading capability of the client. It helps them invest small and have a high market position to open. CMC Markets offers maximum leverage of 1:500 for professional corporate clients and 1:30 for retail clients. 

The clients can use the leverage and double their profits; however, they should be aware of the risk involved with it. 

Deposit and Withdrawal

Deposit and withdrawal of the funds in the trading accounts of CMC Markets are straightforward. They are required to deposit the funds via the mode they feel comfortable with. There are several options for deposit and withdrawal of funds with CMC Markets offers:

  • Bank transfer 
  • Credit/debit cards
  • E-wallets 

The bank transfer is trading through banks, while credit/debit is trading via cards provided by banks and the e-wallets are the digital trading style. Moreover, there is no deposit fee charged from the trader, and there are options of base currency to trade.

With the withdrawal of funds, traders have to inform the broker about it through a form. After which, the broker verifies the trader, and within a day, the withdrawal process is completed. The withdrawal, however, may have a charge if it is required on the same day or is done through an international bank. 

There may be certain CMC Markets withdrawal fees that could be asked to be paid before withdrawal depending on the instrument and the method of trading.

Education and Research

CMC Markets is best when it comes to learning; traders can educate themselves with the facilities of the broker. There is educational material for enhancing trade knowledge and understanding of the clients. It is necessary to be updated and have a proper market understanding. A wrong decision of a trader may lead to losing money rapidly. Traders can use the following CMC Markets offers: 

  • Articles
  • Demo account
  • Trading platform tutorials
  • Videos 
  • Webinars 

Research is an essential part of the CMC Markets; traders can use the facility to analyze the markets and instruments. It will help them have an insight into the trade and market with better knowledge. Traders can have news before its release in the market, predict the market movements and use the tools to be successful investors. 

Traders have the following research tools: 

  • Next Generations 
  • Interactive charts
  • Trade ideas
  • Analysis tools
  • Economic calendars 

Customer Services

CMC Markets offers professional customer service is 24 hours available to help their clients. Traders can connect with them through various modes and communicate their problems. The professional team of CMC Markets tries its level best to solve the queries. Clients can contact them through: 

Contact number: +44(0)20 7170 8200

Email address: [email protected] 

Moreover, there are other countries’ contact and email addresses available on the website as per the needs of clients, and they can be contacted 24/5. 

Final Verdict

A forex broker of the UK, which is listed with the London Stock Exchange and is regulated by the top tier authorities, itself makes the company best to trade with. So investors can trade with the company and benefit from their services, enjoy profits, and educate. 

Being listed with the London Stock Exchange makes it a preferred choice among traders. CMC Markets offers the best services to its clients due to the listing and is the best service provider in the market. 

Trading is not that simple a task; therefore, traders should check with their brokers or financial advisors. When a trader makes a wrong prediction they may end up losing money rapidly.

CMC Market’s complete review is given in the article, which will introduce the traders to the company and its services without false boosting. Happy Trading 

FAQ’s

What are the costs of trading with CMC Markets?

The traders are not required to pay any extra cost to begin trading with CMC Markets. They do not have any minimum covering/deposit requirement and trade commission. However, traders can go through their cost section for more details. Commission and spreads are charges in certain cases of international bank transfers etc. 

How to open an account with CMC Markets?

Traders can open their accounts with CMC Markets within a few minutes. Here are the steps to open an account: 

  • The first step after visiting the website is to click on the trading option of starting at the top right. Traders then have to select the country they will be trading from and click the continue button. 
  • The next step is to register with an email id and a password, and then traders can choose from spread betting and CFD trading and click on the continue button for further process. 
  • Traders then have to fill in information like name, email, date of birth, address, and contact number. 
  • The fourth step is to answer a few questions regarding the working of the trader and experience in the financial market trading and click on the submit button. 
  • Traders receive an email link for verification through third-party video identification. There the clients are asked to show their documents and identity proofs. 
  • Clients have to also upload a residency verification document to the company. 
  • At last, traders have to wait for verification from the CMC Markets and agree to the terms and conditions to begin trading. 

What are the trade instruments available with CMC Markets?

CMC Markets traders can have access to 11000 complex instruments due to market volatility and have the following markets:

  • Indices
  • Forex
  • Commodities
  • Shares
  • ETF trading
  • Treasuries
  • The first step after visiting the website is to click on the start trading option at the top right. Traders then have to select the country they will be trading from and click the continue button. 
  • The next step is to register with an email id and a password, and then traders can choose from spread betting and CFD trading and click on the continue button for further process. 
  • Traders then have to fill in information like name, email, date of birth, address, and contact number. 
  • The fourth step is to answer a few questions regarding the employment status of the trader and experience in the financial market trading and click on the submit button. 
  • Traders receive an email link for verification through third-party video identification. There the clients are asked to show their documents and identity proofs. 
  • Clients have to also upload a residency verification document to the company. 
  • At last, traders have to wait for verification from the CMC Markets and agree to the terms and conditions to begin trading. 

What are the trade instruments available with CMC Markets?

CMC Markets traders can have access to 11000 trade instruments and the following markets:

  • Indices
  • Forex
  • Commodities
  • Shares
  • ETF trading
  • Treasuries
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