- Competitive pricing and low-spread
- High-quality trading experience
- Comprehensive trading environment
- Layout and navigation challenging
- Customer service
- Additional fees
- CMC MARKETS Review
- Is CMC Markets a good broker
- Making an investment offer
- Commissions & fees
- Average spreads
- Active trader programme
- Commission-based pricing
- Trading shares with an alpha rebate
- Guaranteed Stop-Loss Order
- Mobile trading apps
- Ease of use
- App Overview
- Other trading platforms
- Platform usability
- Automated trading
- Learning Centre
- Educational videos and podcasts
- Room for improvement
CMC MARKETS Review
CMC Markets, founded in 1989, manages approximately 69 billion Australian dollars in client assets, including Australian stockbroking operations and partnerships. CMC Markets has 13 locations and 663 employees in the U.K., Canada, and Australia, serving 308,6440 active clients, including FX clients. The reputation of CMC Markets is solid everywhere. Because of its competitive pricing and wide range of more than 12,000 tradeable products, it offers a fantastic trading experience. In addition, quality research and cutting-edge trading tools abound on CMC Markets’ exclusive Next Generation trading platform.
Is CMC Markets a good broker
CMC Markets is, without a doubt, a leading broker in almost every respect. CMC Markets excels as an online FX and CFD broker by providing a comprehensive trading environment. Cost-effectiveness, user-friendliness, accessibility, learning resources, portability, depth of research, diversity of markets, and quality of trading instruments are only a few of its many outstanding features.
Making an investment offer
More than 12,000 CFDs, several FX pairs, and access to global equities markets are all provided by CMC Markets. In addition, the EUR/USD rate and the inverse USD/EUR quote are provided for each of the 158 currency pairings that CMC Markets offers. This unique feature has doubled the 316 available pairings at CMC Markets.
Trading in the underlying asset is not possible with cryptocurrency; however, it is possible with CFDs like buying Bitcoin.
Commissions & fees
Because of its unflinching low-spread offering, accessible to all customer categories and account types, CMC Markets won Best in Class in the Commissions and Fees category.
According to CMC Markets’ price statistics for August 2021, the company offers competitive pricing that outperforms the industry standard, with average spreads on the EUR/USD of 0.73 pips.
Active trader programme
CMC Markets has updated its active trader service to align with its new Price Plus Scheme. Based on your accrued Trade Points, this programme enables you to receive savings on trading expenses.
A new pricing model, named FX Active, was introduced by CMC Markets in 2022. It adds a fee per trade to already-competitive spreads. For trading, the EUR/USD and five other currency pairings, FX Active’s commission-based pricing is $2.50 per side with minimum spreads of zero pips.
Trading shares with an alpha rebate
Free services, including premium reports, market data, and Trading Central, are available through CMC Markets’ Alpha offering. Three levels of the Alpha platform: Classic, Active Investor, and Premium Trader. Each level has different trading criteria.
Guaranteed Stop-Loss Order
CMC Markets provides GSLOs, much like many of its rivals. These orders ensure that the stop-loss order price will be respected, although employing GSLOs carries a charge, as it does with most brokers. If the GSLO is not triggered, CMC Markets automatically reimburses the additional fee, shown in the trade ticket window.
Mobile trading apps
The mobile app from CMC Markets has a simple appearance and features, including several research tools, robust charts, preconfigured watch lists, integrated news and instructional material, etc. The CMC Markets mobile app offers a fantastic user experience.
Ease of use
One small flaw discovered was that Saxo Bank and TD Ameritrade, two market leaders, do not instantly sync new indicators uploaded to the online version with its mobile equivalent.
The CMC Markets mobile app closely follows the Next Generation platform’s web-based design in terms of appearance and functionality.
There is little doubt that CMC Markets gave the app’s creation adequate attention, particularly in light of the difficulty of arranging much data on a screen.
The charting capabilities of the CMC Markets mobile app are comparable to those of the Next Generation platform’s web edition. However, that is still a substantial offering compared to many of CMC Markets’ rivals, even though only 29 of the 86 technical indicators are available.
Other trading platforms
Even the pickiest traders will be drawn to CMC Markets’ next-generation trading platform since it leads the market and is packed with valuable tools.
You may select between standard layouts and bespoke settings using the layout wizard on the platform. Windows can be either floating or fixed. With five colour-coded layers, module connection is supported.
Charting on the Next Generation platform includes 80 technical indicators and studies, 40 sketching tools, and 60 simply attachable candlestick patterns. The Breakout and Emerging Patterns tools on the Next Generation platform are two of the unique charting capabilities available on this platform. In addition, by automatically adjusting to the new time scale, traders may quickly and simply scan any time frame, from minutes to months, for existing chart patterns.
Advanced order types like CMC Markets’ Boundary Order enable traders to establish deviation parameters and limit slippage. However, the Next Generation platform doesn’t support automated trading strategies. CMC Markets’ MT4 solution provides automated trading for traders, albeit with a much narrower product selection.
CMC Markets’ MetaTrader offering now includes 220 tradable goods, up from 38 before. This increase is due to the addition of 176 FX pairs. In addition, in 2022, CMC Markets enhanced its MT4 service to match its proprietary platform’s 12,000 trades.
CMC Markets is a market leader due to its comprehensive training programmes for foreign exchange (FX) and contracts for difference (CFD) traders. Articles, videos, podcasts, and even real-time webinars are all examples of these types of materials.
The teaching resources provided by CMC Markets are comprehensive and suitable for traders of all skill levels. CMC offers a range of training resources, from the fundamentals of forex trading and introductory articles to advanced strategy guides that include cryptocurrency trading materials.
Educational videos and podcasts
The CMC Markets YouTube channel features informative videos, lessons, and podcasts.
In-house analysts and third-party vendor Trade with Precision lead CMC Markets’ Australian and U.K. webinars.
Room for improvement
CMC Markets may better compete with educational giants IG and AvaTrade by adding quizzes and progress monitoring and centralising all its training content.
Compared to its Opto CMC channel, CMC Markets’ main YouTube channel decreased video content creation in 2021.