CMCMarkets CFD Broker Review 72

CMCMarkets is a well-established, global online trading brand, with offices in several spots around the world, and a unique trading platform. The operator is indeed licensed and the various companies representing it are all registered and legitimate.

 

Overview

The operator is indeed licensed and the various companies representing it are all registered and legitimate.

In the UK, the CMCMarkets brand is pushed by CMC Markets UK Plc (registered under number 173730), and CMC Spreadbet Plc., (registered under number 170627). The authority that has granted the two above-said companies operating licenses, and which regulates their activity, is the FCA (Financial Conduct Authority). UK licensing gives the brokerage the right to peddle its services all over the EEA.

In addition to the above-mentioned two companies, CMC Markets Asia Pacific Pty Ltd, and CMC Markets Stockbroking Ltd are also lined up behind the brand, as its Australian “anchors”. Both companies are registered and licensed, and they both possess AFSL (Australian Financial Services Licenses – #238054 and #246381 respectively).

The operator is keen on being very transparent in regards to its corporate background and the services it offers. There’s a full Financial Services Guide available on the Australian site of the brokerage, where all the fees and charges are discussed in detail.

Should you consider CMCMarkets as your main trading choice? First of all, the brokerage grants you control over execution, it is – as showcased above – licensed and regulated, it allows you to trade anywhere, and it guarantees the safety of your deposits. Last, but certainly not least, CMCMarkets delivers excellent value for money.

Account Types

In this regard, CMCMarkets have definitely kept things simple. They only offer two account types: a CFD account and a Corporate Account. As a retail trader, you know which one is the right one for you…

There are no minimum deposit requirements for either of the two accounts, and profits accrued through both of them are subject to capital gains tax. A free demo account is available too.

Trading Platform/Software

The CMCMarkets trading platform is a unique, in-house creation. Despite the fact that it is…well, NOT MT4, it is surprisingly powerful and it offers a slew of attractive features.

For starters, it supports no fewer than 5 order execution types. There are regular stop-loss orders, guaranteed stop-loss orders, trailing stops, take-profits as well as market-, limit- and stop-entry orders.

Order management is ensured by the broker too: boundary orders can be used to combat slippage, trading is possible directly from the charts and one-click trading is available too. Positions can be rolled forward automatically, with the reduced spread, and trading can be done with unrealized profit.

The charting package offered by the brokerage is an award-winning one. It provides access to more than 80 technical indicators and there are no fewer than 10 chart-types supported. What’s perhaps most interesting in regards to analysis in CMCMarkets’ offer, is the automatic pattern-recognition feature, which gives even beginners a fighting chance in the otherwise cruel and unforgiving arena of trading.

The platform resolution can be changed, there’s multi-screen support and the module-linking feature allows for fast platform navigation.

There’s no shortage of trading tools either. The platform features a market calendar, a client sentiment analyzer, a pattern recognition scanner, price ticker, CMC TV, CMC twitter feed and a number of other such goodies, that traders can use to streamline their decision-making process. On the CFD account, there is a handy portfolio mixer available too.

Alerts can be set for several events like completed chart patterns, order execution and of course: price.

The mobile trading apps deliver similarly generous feature-bundles as the full-fledged version. These include advanced charting, watch-lists, real-time alerts and customizable home screens.

Deposit Options

Traders can fund their CMCMarkets accounts via credit- and debit cards and bank transfers. That’s it. The operator does not accept cash deposits. While traders do not need to make a real money deposit to activate their accounts, they will obviously not be able to place a trade unless sufficient funds are available.   

Markets

CMCMarkets lets its clients trade Forex, indices, commodities, shares and treasuries. Altogether, these categories cover around 10,000 tradable assets. Everything is CFD-based of course, so traders will never gain actual possession of the instruments they trade.

Customer Support

Customer support is based on an exhaustive FAQ system, which does indeed cover every bit of the operation, and which can be navigated very handily. Email and phone support are available too.

Safety

CMCMarkets is trustworthy, serious and safe, though it has accrued some negative user feedback that may be worthy of attention.

Final Thoughts

Everything accounted for, CMCMarkets shapes up as an attractive and safe trading destination. It is  licensed and regulated, it features an attractive trading platform and its trading conditions are decent.

Pros

  • Unique proprietary trading platform with great features
  • Excellent support

Cons

  • Some unsavory feedback from clients
CMC Markets Overview
Regulation: FCA
Assets offered: Cryptocurrency Exchange
Minimum Deposit: No Minimum Deposit
Deposit Options