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CMC Markets Reviews Read Customer Service Reviews of www 2 of 59

By May 19, 2022June 20th, 2024Forex Trading

cmc markets reviews

CMC Markets offers CFD trading in the world’s top cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Dash, EOS, Monero, Stellar, Cardano, Neo and Tron. Customer service at CMC Markets is provided in 10 different languages and several different mediums. These include a live chat function, email, and phone support on multiple local numbers depending on your location. We may receive compensation when you click on links to products we review. As soon as you have a problem, you will go round and round until you have told the story so many times you give up. They will come in here and say ‘oh just contact us we can help’, empty promises all day long.As you see their reply below.

Great Broker

They also provide you with a comprehensive range of training videos and other educational resources on the website and platforms. All of this puts them up with there with the best trading brokers in my opinion. CMC Markets is a well-established online broker that has stood the test of time and continues to adopt the latest trade technologies. I like the fact the broker holds multiple regulations from different authorities and carefully abides by the stringent regulatory provisions.

  1. CMC Market gives you the option to trade the spot index and several future contracts, so you can find several variants to access the underlying asset in question in the form of a CFD.
  2. The glossary is arranged in alphabetical order so your search can be more precise.
  3. So if you bought 10 AAPL shares and sold them, you just spent $20.
  4. CMC Markets offers 3 main account types to traders, which are Spread Betting, CFD, and Corporate Accounts.
  5. On the negative side their in-and-out share trading commissions are quite high ($10 minimum).

CMC Markets Trading Instruments

The depth of the product catalogue places this broker in an elite group and active traders especially will appreciate the tight spreads available. Education and research offerings are strong and customer service, while not always the fastest, is reliable. For this review of CMC Markets, we focused on the services provided by CMC Markets UK PLC ( regulated by the UK Financial Conduct Authority (FCA). We conducted our tests with a live CFD Account using the Next Generation Platform and mobile app.

Mobile app is great but cannot access in Malaysia

cmc markets reviews

When testing the support via chat, there was often a short delay and placement in a queue. The wait was not long, but clearly longer than some market leaders where responses are usually immediate. For email inquiries we typically received a response within 1 business day. Customer support is strong at CMC Markets but there is still room for improvement, especially with the wait times experienced for responses via chat. MetaTrader is a powerful platform with impressive features but the interface appears dated in comparison with the Next Generation Platform.

Portfolio Analysis

As a trader residing in Australia, you have access to two real share trading platforms. In addition to supporting the popular 3rd-party MT4 platform from MetaQuotes, CMC Markets offers a powerful proprietary web-based platform called Next Generation, as well as iOS and Android mobile applications. The sophisticated mobile app includes powerful charting features and more than 40 popular indicators and drawing tools. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk. Step 11) Set up your view of the trading platform, and wait for your live account application to be approved. While waiting, you can trade with the automatic demo account created for you.

cmc markets reviews

I have been able to invest in USA stocks fir example utilising a margin of £70 whereas with IG index the minimum position in the same stock would have required margin of over £500. After trying many online brokers CMC markets has become my long term broker of choice. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index so you can trust your funds are always safe and handled correctly . Additionally their customer service is first class , always going above and beyond to make sure your trading experience works well . No commission is charged on trading with the broker when trading the vast majority of assets. These attract a commission from 0.1% with a $7 commission fee depending on the asset.

What fees does CMC Markets charge?

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. An experienced cmc markets review media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

The order ticket is limited to initiating basic market and pending orders, though the latter does offer the added protection of GSLO. CMC does not provide a trading journal nor do they provide tax accounting tools on the platform. 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.

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system. CMC Markets is an online provider of spread betting and contract for difference (CFD) trading services. The company provides access to an electronic trading platform, through which customers can trade CFDs on forex, shares, indices, ETFs, bonds and commodities with competitive spreads. The broker offers a wide variety of tradable assets ranging from forex currency pairs, indices, commodities, cryptocurrencies, treasuries, metals, energies, CFDs and stock shares. I like how these instruments are traded on modern platforms with a variety of essential and advanced tools to assist you in your daily trading routine.

The platform has a clean, easy to use interface along with advanced functionality, making it suitable for beginners as well as experienced traders. CMC Markets earns money mainly from spreads (the gap between the bid and offer prices of an asset). However, in the case of stock CFDs, commissions are also charged.

The trading fees on CMC Markets are moderate and you do not pay commission on all instruments except shares, so if you do not trade shares majorly, you will enjoy overall commission-free trading. Note that you can only withdraw funds to cards if you have used cards to make deposits into your trading account. With the CMC Markets Professional Account, you also get a personal account manager and early access to CMC Markets’ new products and initiatives. No commission fees are charged when you enter or exit a trade on CMC Markets CFD Account, except for trading shares, in which charges starting from $10 apply.

Swap fees (the cost of holding a position overnight) were average at CMC Markets. CMC Markets aim to fix their spreads at a target level but it is not guaranteed. The size of the spread typically depends on the level of liquidity in the market. Liquidity describes the extent to which an instrument can be bought and sold quickly and without moving the market. Tighter spreads are usually seen when there is greater liquidity in the market.

This makes me feel that my funds will be safe and means that I can focus on my trading. The pattern recognition is a tool inbuilt into the Next Generation trading platform. It scans the charts and recognises technical patterns such as triangles and wedges, etc. When the patterns are complete, it creates a price projection box highlighting where the price action may likely go. I haven’t seen many brokers offering this tool and it’s quite useful. CMC Markets offers its own proprietary platforms as well as the MT4 platform to you for trading online.

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