CMC Markets Review For Traders

CMC Markets (CMC), started in 1989, is a well-known, publicly traded, and highly regarded U.K. forex broker. It has been able to adapt to the constantly changing online brokerage landscape. The ticker symbol for the company on the London Stock Exchange (LSE) is CMCX. Like many other forex brokers, CMC doesn’t let U.S. citizens trade with them. Yet it is a good choice for forex highest leverage.

CMC Online Services

The most important platform from CMC is “Next Generation,” a web-based service with many features.

This, along with the widely used downloadable MT4 platform and a useful mobile app, is all CMC has to offer its customers online.

CMC gives traders access to various CFDs and spreads betting options across several asset classes. In addition to a larger-than-usual number of forex, commodities, indices, and individual shares, the list of products also includes a complete list of government bonds and 14 cryptocurrency offerings.

This gives all types of traders an overwhelming number of possible trading opportunities. Also, the broker has competitive spreads that grow or shrink depending on the size of the trade, and clients’ accounts can’t go into a negative balance situation.

CMC Cares For Its Traders

CMC shows that it cares more about skilled traders by having separate sites for professionals and institutions. However, higher-level perks, like rebates and a free API interface for “professional” traders, are not available to retail traders. Still, all account holders have access to valuable features like guaranteed stop losses (GSLO), free bank wire withdrawals, and more. By Investopedia’s ranking algorithm, CMC Markets was named the Best Forex Broker for 2020, considering how many products this broker offered and how well it did in several CMC Markets review categories.

Who Can Use CMC Markets?

CMC Markets is for any trader, from beginners who want to try forex, CFDs, and spread betting online for the first time to seasoned traders who want to try out a wide range of products.

Advantages Of Trade With CMC

CMC Markets has one of the most effective products for its clients among online forex brokerages. It says on its website that clients can trade up to 10,000 instruments. This gives them many new options, especially for portfolio managers looking to invest long-term.

The Financial Conduct Authority (FCA #173730) is in charge of regulating CMC Markets.

The FCA is one of the most important regulatory bodies in the U.K. and is well-known worldwide for being strict about ensuring that market practices are fair for individuals and businesses.

Simply put, the fact that a reputable government-backed agency regulates a company says a lot about its trustworthiness.

Traders are willing to take the risks that come with the markets, but they would also like to know that their money is not at risk from threats other than the ones they are taking, like counter-party risk. Also, separate client funds are kept in several banks in the U.K. and Europe to spread risk even more.

CMC Markets focuses much on customer service, which includes access to live brokers and a chat service 24 hours a day, seven days a week. This, along with their educational options, helped them move up in the rankings—anyone online trading needs to get in touch with a broker quickly.

It’s excellent that CMC Markets works hard to give its clients high-quality research. It’s about the same as the best online forex brokerages offer.

Drawbacks That Might Occur With CMC

Because of rules, CMC Markets can’t work with people in the United States, so it can’t be called a global broker. This would be a red flag if the company weren’t regulated by the FCA, which, along with the NFA and CFTC in the U.S., is widely thought to be the most important regulatory body.

Regarding spreads, commissions, and products, CMC Markets’ “Next Generation” platform differs from its MT4 platform. The web-based platform from CMC is the company’s authentic flagship product, and it has many more features than the MT4 white label. This might not be a problem if MT4 weren’t the only thing that could be downloaded.

CMC Markets’ CFDs and spread bets have a spread on the S&P 500 that is 5 points higher than the average. This was clear from the index cost disclosures.

Next Generation from CMC doesn’t have back-testing or automated trading features, so algorithmic traders can only use MT4.