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CMC Markets Review

CMC Markets | FXLORDS

About it

CMC Markets is an international entity established 25 years ago in the UK as a small Forex broker. Now, the company is listed for trading in the London Stock Exchange and has market capitalization of $725m.

CMC is regulated by the Financial Conduct Authority (FCA). It has 14 subsidiary offices all around the world including Australia, New Zealand, Beijing, Singapore, Canada and many European cities, making it a global broker.

CMC Markets offers trading in CFD’s, binaries and spread betting. It’s website is modern and rich and through its’ platforms, clients can trade an impressive number of 338 Forex pairs, 87 indices, 111 commodity, 46 treasuries and 9,413 share. It is definitely one of the biggest firms in the industry and it is a market leader.

Review Overview

Compliance to Different Authorities
Speed and Ease of Procedures
Platform Execution
Technology and Facilities
Client Support and Offers

Acceptable

CMC is consider one of the biggest brokers in the Forex trading industry, however it doesn't present a product that reflect its image

How does it help me learn?

CMC Markets‘ educational section is comprehensive and covers everything a client might need to start and keep trading with the company. It helps train and educate new and more experienced traders through an excellent set of channels. They include:

  • Demo Accounts and Account Managers – Through CMC Markets demo account, clients are granted access to advanced charting, market commentary and various trading tools. In case of any technical problem, trading assistance or account difficulties, support is available by account managers.
  • News and Analysis – CMC covers breaking economic news events with commentaries, videos and webinars, presented by one of its’ market analysts. The company also offers live streaming news feed from Reuters within its’ desktop spread betting platform, CFD trading platform and mobile apps.
  • Webinars – CMC hosts webinars on a daily basis addressing a lot of subjects, such as Forex basics, platform skills, trading strategies and market analysis.
  • Trading Guides – They consist of an introduction to trading, fundamental and technical analysis, trading strategies, as well as a comprehensive manual to CMC Markets platform and features. There are other tutorials about spread betting, binary options and CFDs trading. Trading Guides are available as both videos and written material.
  • Video Tutorials – CMC possesses a huge library of videos which explains many aspects of trading as well as the use of its’ the trading platforms.
  • CMC TV – A daily updated YouTube channel that discusses every angle about online trading. Subjects include experts views, trading strategies, platform tutorials and detailed introductions to spread betting, binary options and CFDs trading.

How is the client support service in general?

The company presents high standard of service across the entity and its’ subsidiary offices. CMC Markets‘ client support is available via telephone, email and live chat. Response to emails is best described as brief and professional. Staff available for support by phone were knowledgeable and courteous. Live chat is available 24/5.

What does the industry say?

CMC Markets‘ has its share of negative comments from traders in regards to execution and account opening procedures. However, the company received 50 awards in the last 2 years alone, recognizing the quality of CMC Markets’ service and its determination to deliver innovative technology to its’ clients. These awards include the Best Online Trading Platform, Best Financial Services Provider, Best Forex Customer Service and the Best Investor Education.

How safe is my money?

CMC Markets is authorized and regulated by the Financial Conduct Authority (FCA) in the UK. The company is also a member of the Financial Services Compensation Scheme (FSCS) which protects clients up to £50,000 in the event the company is unable to meet its financial obligations. What’s worth mentioning here is that CMC Markets has enacted over 43 million trades last year and serviced more than 500,000 client worldwide.

What platforms does CMC Markets offer?

Instead of using MetaTrader platforms, CMC Markets continued to develop its own in-house download platform which has a lot of features but doesn’t seem to be reliable. The platform is flashy, comprehensive and easy to use, but it freezes and needs to be restarted continuously. It comes with many useful tools, but many of them are similar to those available in MT4 and MT5. Those tools include an advanced charting package which equips ten different chart types, 75 technical indicators and 10 drawing tools. There are mobile phones, IOS, Android, Windows and Tablet versions of this platform.
On its platform, CMC Markets also developed a handful of excellent trading features for clients, such as the Pattern Recognition Tool which searches for common technical patterns and candle shapes to provide a price projection. There is also the Client Sentiment Feature to display the percentage of CMC Markets‘ clients who have bought versus the percentage who have sold a particular financial instrument. It also offers the Chart ForumCMC Markets‘ social network which lets clients discuss and share chart analysis and trade set-ups, as well as receiving commentary from CMC‘s analysts and other traders.

What about its trading conditions?

CMC Markets offers 1 click execution and the ability to trade directly from the charts but its’ terms and conditions advise that under certain market conditions, re-quoting may be necessary. However, CMC guarantees to execute the client’s order regardless of market volatility or a gap, for a premium, which could lead to the belief that CMC‘s dealing desk might keep re-quoting client’s orders as long as he is not paying a premium. The margin requirement on the major pairs is 0.2% and leverage is 1:500.

How much will it cost me?

CMC Markets has minimum spreads between 0.7 and 0.9 for the major pairs, but the company states that spreads can widen and the price set for the stop loss or take profit points might not always be filled if there are volatile market conditions. CMC Markets doesn’t require a minimum deposits to open an account. CMC Markets doesn’t offer Islamic accounts and open positions overnight are subject to holding costs, which is another version of Swap charges.

Any special deals?

CMC Markets‘ promotion is limited to cash rebates to clients on an increasing scale dependent on how much they trade each month. However, condition to be eligible for this promotion is not feasible for the individual trader, but is suitable for institutions. To qualify for this promotion, the client has to trade a minimum of 1 million. The rebate offered is small and doesn’t justify the size of trading volume required to qualify.

The bottom line

CMC Markets is a big broker and a well established company. It offers a good download and mobile trading platform, enabling clients to trade in spread betting and CFDs and binary options.
The company doesn’t offer MetaTrader platforms, instead, CMC offers its’ own in-house developed platform which has some innovative features and shares a lot similarities with MT4 and MT5, however, it doesn’t seem to be reliable.
 The platforms functionalities proves the company’s advancement from the technological stand point but still falls short in execution as reviews and comments from the online community clearly state. Getting started is a little harder and unreasonably delayed.
The operation of the company’s subsidiaries has positive feedback and seems to be efficient.

Do you like this broker?

If you like this broker and want to open a live account, send us a request by filling the form below and we will reimburse you the full rebate generated from your trading.

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About Razi Hammoudeh

Razi’s professional experience was gained over the course of more than a decade working with leading Forex market makers in the Middle East, Asia and Europe where he learned about trading, financial instruments and global markets. Being exposed to the wide range of skills he acquired along the years, he continued to develop his trading strategies and further improving his track record in Forex trading. He used innovative business development strategies to find FXLORDS, helping it to rapidly become a major provider of education and trading tools to the successful trader. He is an enthusiastic individual, motivated by challenge and renowned for pushing the limits, always looking to gain some more experience and help as much as possible along the way.

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