OVERVIEW OF CMC MARKETS
CMC Markets is amongst the most reputed and trusted brokers in the market. That’s why we have decided to conduct CMC Markets review with its distinct features, services, price policies, customer support, and pros and cons.
The Forex broker platform was founded in the year 1989. The platform is well-regulated by five tier-1 jurisdictions alongside two tier-2 jurisdictions authorities which include the Financial Markets Authority (FMA) of New Zealand, the Financial Conduct Authority (FCA), The Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC) and Monetary Authority of Singapore (MAS).
- Minimum deposit: $0
- Trust Score: 99
- Tradeable Symbols (Total): 12000
CMC Markets Offers various products and services related to trading in several financial assets. More than 10,000 tradeable instruments are available on the platform, which gives many opportunities for traders to choose the best.
You can trade on the platform in more than 158 forex currency pairs, over 9,000 shares, 100 commodities, 12 cryptocurrencies, and 50 Treasuries.
Traders can access in-depth educational materials, and research reports, videos and live trading sessions on the platform. Regarding the pricing policies, It offers quality products and services at low charges. The platform mostly charges through the spreads from cross-trades. Generally, the amount of CMC Markets spread depends on whether your account is classified as CFD or spread betting. You can trade on Meta Trader 4 and 5 on the platform. It also provides traders with a mobile trading app.
CMC MARKETS REVIEW
The broker’s platform has an experience of more than 30 years in the financial market. It is well-regulated by the most reputed institutions globally. It is popular for delivering extraordinary services to investors and clients. The best part about the platform is that it provides quality services at reasonable prices. Also, the fees and commission structure are transparent, with no hidden charges.
CMC Market offers great customer support to their clients 24/5. It is an interactive broker; you can get all the answers to your queries from the experts. It also provides training, making it suitable for beginners and advanced traders. The platform provides traders with next generation trading system, which makes trading more convenient and easy. CMC Market provides its client with a smooth and uncomplicated account opening procedure. You can apply online through the websites or mobile app. You may require some KYC and documentation for opening accounts. However, all the documentation procedure is for traders only as it will help to ensure secure trading. Remember, asking for KYC and documentation is a good sign of a forex brokerṣ.
With the above benefits for subscribing to CMC Markets, certain limitations exist. The education and training programs are not up to current market standards. Also, the biggest drawback with CMC Markets is it does not accept US Clients. It also lacks in providing backtesting and automated trading facilities. However, if we analyze the overall services of the platform, CMC is amongst the best brokers available in the market, with great performance reports and customer satisfaction.
OUR ASSESSMENT OF CMC MARKETS
Traders with high account balances are eligible for various exciting benefits such as personal assistance, extra ordinary tools, high leverage, etc.
CMC Market also provides a demo account facility. So you can also start trading with a demo account. It will help you analyze all the services, including technical and fundamental tools, research reports, charts and indicators, education and training material, customer support and overall success rate to determine whether the broker suits you.
Summary
CMC Markets is a good broker to start your trading experience with. Credibility and security are the two most important elements which traders look for when choosing a forex broker, and in these criteria, CMC markets stand out. The platform provides clients with guaranteed stop-loss execution, protection against negative balance, training, education, analysis and risk management tools. Pricing policies are also good, and they also provide traders with a seamless withdrawal and deposit facility, which is a must for a trader.
However, with all the positive aspects, there are a few negative aspects also of subscribing to CMC Markets. They may charge less commission, but there are many extra charges like inactivity fees, overnight swap charges, data fees, etc. Also, the platform lacks in providing backtesting and automated trading facilities.
Whether to choose CMC Markets or not depends on what you are expecting from your brokers. As per our CMC Market review, the advantages of going for the platform are more than the disadvantages. According to our market assessment, it surely gets placed among the top forex brokers, and on a scale of 5, we give the CMC market four-point seven ratings.
Pros
CMC Markets is a user-friendly platform suitable for beginners and advanced traders. Also, it is available on both desktop and mobile apps to trade at your convenience. Plus, you can trade in various financial assets at one destination.
CMC markets are the right choice if you are looking for low trading charges and quality services. You can also get several exciting offers and discounts on its products and services with competitive pricing. However, the offer availability depends on the country you are trading in.
CMC Markets has a good market reputation and performance track records, which is the biggest advantages. So in case you are not happy with the broker, you can write a negative review, and if your complaint is genuine, the platform will try to solve the problem and safeguard its reputation.
Cons
CMC market is present in more than 70 countries but does not accept US clients due to regulatory issues. It was a big drawback as the US is a big market that dominates the world.
The educational and training material offered by CMC markets is comparatively robust. Also, limited videos, webinars, and content related to the financial market can be a red flag for beginners.