CMC Markets, in business since 1989, is a significant Forex and CFD broker with a solid reputation and a wide variety of assets available for trading. Commission-based account holders may need more support with the high trading costs associated with their account type.
No minimum deposit is required for either of CMC Markets’ live accounts: the commission-free version spreads the EUR/USD at 0.7 pips and costs 0.005%, while the commission-based account spreads the currency pair at 0.1 pips and fees 0.005%. (which comes to 50 USD for each lot traded).
Traders can use either MT4 or the company’s proprietary, state-of-the-art trading platform, which comes equipped with technical and fundamental analytical tools. CMC Markets’ lack of a live chat facility is a significant deficiency that makes it challenging for new traders to get started with the broker, even though customer support is provided 24 hours a day, five days a week.
If you are interested in the cmcmarkets review, you should read the review on TradersUnion’s site.
Pros and Cons of CMC Markets
Pros
· CMC Markets, which has been in business since 1989, is publicly listed and regulated in four tier-1 and two tier-2 jurisdictions, making forex and CFD trading with the company risk-free.
· Market participants can take advantage of competitive pricing, with discounts and rebate schemes potentially varying by country (and any applicable regulations).
· CMC Markets’ Next Generation platform is a potent weapon, with over 12,000 items.
· The user experience at CMC Markets is second to none because of the superior quality of their UI, innovative tools, thorough market analysis, and innovative mobile app.
· CMC Markets’ Invest app allows Australian traders to purchase and sell stocks and other securities on the exchange.
· By modifying the portfolio’s weighted percentage of various investments, CMC Markets’ Dynamic Trading tool for institutional clients will allow for finer-grained allocation adjustments upon its 2021 rollout.
Cons
· The number of tradable symbols in MC Markets’ MT4 offering is smaller. Beeks VPS, with plugins from Autochartist and FX Blue, substantially bolstered its offering in 2021.
· CMC Markets contains a wealth of educational content but no interactive features.
· CMC TV has slowed down its video output in recent months, focusing instead on weekly webinars.
Is CMC Markets safe?
With a perfect Trust Score of 99, CMC Markets is a safe investment option. Publicly traded CMC Markets, which does not operate a bank, has been authorized by five tier-1 regulators (high trust), one tier-2 regulator (medium trust), and none of the three tier-3 authorities. CMC Markets has authorization from several tier-1 regulators, including the Australian Securities & Investments Commission (ASIC), the Investment Industry Regulatory Organization of Canada, the Monetary Authority of Singapore (MAS), the Financial Markets Authority (FMA) of New Zealand, and the Financial Conduct Authority. Read up on the Trust / Distrust model.
Check out the best trading platforms in Australia at the TradersUnion website.
Stocks, Exchange-Traded Funds, and Indices from CMC Markets
In addition to more than 9,400 international stocks, CMC Markets provides access to 1,000 exchange-traded funds. You can trade 4,800+ U.S. equities, 894 UK stocks, 572 Canadian stocks, and 22 share baskets, including well-known companies like Apple Inc., Rio Tinto, and Lloyds Banking Group. Stocks from 21 additional countries are available, each with its trading hours and commission structure. Furthermore, 100 of the world’s largest indices, including the Germany 30, UK 100, US 30, and Australia 200, are available to you through Contracts for Difference hertube .
CMC Markets Forex
More than 330 currency pairings (both spot and forward) are available for CFD trading on CMC Markets. The CMC USD Index, CMC GBP Index, and CMC EUR Index are some unique currency indices offered by CMC Markets.
CMC Markets Cryptocurrencies
Bitcoin, Ether, Bitcoin Cash, Litecoin, Ripple, Dash, EOS, Monero, Stellar, Cardano, Neo, and Tron are just some of the cryptocurrencies available for Contracts for Difference trading on CMC Markets.
Our Verdict
CMC Markets is a renowned Forex and CFD broker known for its dependability and significant trading assets. Commission-based investors may be happier with the trading costs.
Spreads on the EUR/USD begin at 0.7 pips in the commission-free account, while they begin at 0.1 pips, and expenses total 0.005% in the commission-based version. (equating to $50 per exchanged lot). Traders can choose between MT4 and the company’s state-of-the-art trading platform. For novice traders, CMC Markets’ lack of a live chat feature might be a significant hindrance.
