Introduced in 1989 by Peter Cruddas with the name Currency Management Corporation. 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.
The 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.
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.
CMC Markets Review: 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 platforms
- Research tools
- Educational Material
- Personal client services
- CFDs
- ETFs
- Suitable for beginners and professionals
- Award-winning company
- Advanced risk management
- No minimum deposit
- Regulated
- Tax-free spread betting
- Well established company
Cons:
With so many advantages, CMC Markets has a few disadvantages as well. Here are the cons of CMC Markets:
- Limited product portfolio
- High stock CFD fees
CMC Markets Review: Regulation and Scam
CMC Markets is a highly regulated financial company that operates under the regulations of the Financial Conduct Authority with registration number 173730. Moreover, its 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 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.
CMC Markets Review: Trading Account Types
CMC Markets allows the traders to register with them through their online website. After getting registered, they can choose the type of account to go live. The CMC Markets has the following accounts to invest in:
Spread Betting Account
The most popular account of CMC Markets is spread betting; traders go for this account type to have a tax-efficient investing. In spread betting, the investors speculate on the price movements of various financial instruments globally. A spread betting account gives traders the right to enjoy a lot of facilities.
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 spread betting account:
- Cash rebates available except 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
CFD Account
Contract for difference is a derivative agreement that could be traded with this account type. Investors trade on the price movements of the underlying financial instruments. With the CFDs, traders can benefit from the opening and closing price of the trade instruments.
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
- Customer support
- Telephone trading
- Advanced tools
- Trading platforms
Corporate Account
Basically designed for the corporate traders who want to have CFD trading access for their business. The account has several advanced facilities to bring the best for corporate traders or businesses. Investor of such account have below listed facilities:
- Insights from an expert analyst
- Insights from Reuters and Morningstar
- Award-winning 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
- Account netting
- Order boundaries
- Hedging of physical position
- Price depth ladder
- Telephone trading
- Customer support
- Trading platforms
- Charting tools
- Alerts
CMC Markets Review: Account Opening
Account opening is not a difficult process; traders can easily visit the official website, 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.
CMC Markets Review: Trading Platforms
CMC Markets is a forex broker of the UK that has the world’s best trading platforms to help investors achieve their desired goals. The trading platforms of CMC Markets are designed for easy to use and powerful trading simultaneously.
The trading platforms incorporate professional-grade features, security, lightning-fast execution, analysis, and support all the market strategies. CMC Markets has MetaTrader4, Webtrader, and Mobile Application softwares as trading platforms. These are the three most popular platforms used worldwide.
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 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
- User-friendly
Web Platform
Web platform or browser of the CMC Markets is the service that helps traders connect with the markets directly. It is a customizable web platform offered by the forex broker to invest and monitor the markets. The web browser works on devices such as laptops, systems, and mobile as well.
It has 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 an award-winning broker for its mobile trading application. Giving traders total control of their investments in the markets. Traders can visit markets anytime and anywhere they want. Moreover, they have to just simply download it on their mobiles and customize it as per need.
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 of market
CMC Markets Review: 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 instruments for trade from around 11000 instruments. Moreover, there are markets as well to trade and diversify the portfolio of the investors.