Who They Are?
CMC Markets is the global leader in providing online financial services and advice, including market-leading contracts for difference (CFDs) and spread betting.
The firm has competitive fees and it ranks high on our list of the best forex brokers. The firm also is ranked as the best overall forex broker for 2020, as well as best for offering so many different types of offerings.
As an online broker, CMC Markets provides clients with one of the largest product catalogs available in the online brokerage community. And as advertised on its website, clients can trade up to 10,000 instruments, which opens up many new opportunities, especially with longer-term portfolio managers.
It has a good reputation internationally for being rigorous in making sure that markets are fair for both individuals and businesses.
Regulated exchanges have established reputations and have built brand identities that consumers recognize and respect. This allows a firm to set itself apart from competitors and offers clients a level of confidence.
UBS’s segregated account services, in contrast, are provided by a network of bank subsidiaries based in the UK and Europe. All accounts are available online, and clients can deposit funds via their local bank.
Not only that, but having brokers who are knowledgeable and responsive is critical for anyone trading online. It’s also key for you to find brokers who can help you easily set up an account and make trades.
CMC Markets offers top-notch financial research to its clients, comparable with other online forex brokers in the market.
This is one of the most critical features you can find in any broker. In order to understand why it’s so important, let’s first take a look at the history of retail FX trading and the role that negative balances have played over the years. Additionally, CMC offers stop losses, as well. And click here to learn more about forex deposit bonus by Traders Union.
Costs
CMC generates money on the spread as well, specifically through customer trades that “cross” the bid/ask spread.
The commissions that come with trading on Next Generation are charged to your account only in the case that you trade individual shares and ETFs. The fees that come with trading are based on the type of trades you place.
There’s a possibility that some of your winnings will be charged to your account directly upon order execution. Disclosures indicate that larger position sizes incur wider spreads, but details are platform-dependent.
Both of these platforms have disclosed the margin and overnight holding charges for both their CFD and spread betting accounts are below the industry average. They’re competitive and well above average. There was an abnormal amount of variance in both spread charges, though.
It is not mandatory for CMC users to make any deposit at the time of opening an account. However, if the user wants to trade the smallest of trade sizes, the smallest required trade size will need to be deposited.
While it has an activity fee of £10 a month (or its equivalent in the account’s base currency) for each live account with no trading activity in 12 months, and a market data fee for certain CFD shares, CMC doesn’t charge any other non-trading related fees.
Trade Experience Web Trader
With a unique proprietary next generation trading platform for web, tablet, and mobile, the Meta Trader 4 solution will please technical traders looking for a way to get a modern and sophisticated trading platform on their desktop or mobile devices.
This charting platform is designed to optimize the desktop layout and help you study long-term trends, price histories going back 20 years, and price projections and pattern recognition tools. It also provides a connection to the client-based trader’s forum.
Next Generation allows you to place orders with three different types, and you can attach “take profit” and/or “stop loss” orders to them. You can also set an initial stop loss when placing your orders, and you can modify that stop loss during the trade.
For pending orders, traders can choose both guaranteed and trailing options when filling out the order ticket before executing their order. A trader who wishes to lock-in their price is choosing market-related, or open, as a type of option.
Range of Offerings.
CMC Markets offers clients a broad range of instruments. They also promise to offer products with the shortest expiration time and highest liquidity. For this reason, it’s a good idea for clients who plan to hold their positions for a long period of time.
CMC’s margin rates start at 20% on UK and US shares. Different margin rates apply for large positions.
Customer Service
A broker that does not take customer service seriously is doomed to fail. CMC Markets is very aware of this fact.
Contact options cover all the bases. You have the ability to communicate by email, phone, and live chat. Support is available during business hours for those needing assistance.
When it comes to customer service, this broker is one of the best in the business. Contact times average 30 to 40 seconds. There are 13 satellite offices on four continents to support licensed operations in other venues. Click here to check out the CMC markets reviews by Traders Union.
Security
CMC Markets Limited is regulated by the Financial Conduct Authority (FCA) and is registered under number: 749290. Registered address: 2D Upper Basildon Street, London, SE15 1YD.
FCA’s client money rules ensure that client assets are protected in the unlikely event that CMC becomes insolvent. This means that client assets are held in segregated accounts at regulated banks. These funds are also held in a number of UK regulated custodians and brokers.
In order to mitigate their exposure to any financial crisis in Europe, CMC clients use both the FSCS and other products provided by a range of European banks to disperse risk further.
There are other financial products and services out there, such as futures, exchange-traded funds, and peer-to-peer lending, that also offer trading platforms and tools to help you analyze the performance of the market.
With its two-factor and biometric authentication, along with a countdown timer that logs the user out of the app if it isn’t being used, CMC’s software is aligned with the best the industry has to offer.
