CMC Market Review: What You Need To Know
When it comes to trading the forex market, it is important to settle on a reputable and regulated forex broker. CMC Markets meets the threshold as it is regulated in four btier-1 jurisdictions in addition to offering a wide range of financial products catering to the needs of each trader.
The U.K. forex broker is listed on the London Stock Exchange, which adds a layer of credibility in an industry where trust and reputation is of utmost importance. In an industry where there are hundreds if not thousands of forex brokers, CMC stands out in part because it is the undisputed king of low-cost trading.
Backed by the Next Generation platform, the broker is also able to deliver terrific trading tools ideal for carrying out widespread market research and making informed decisions in the financial markets. Being one of the largest market makers, CMC Market continues to offer competitive spreads and incentives for traders.
CMC Market Trading Platforms
CMC Market offers user-friendly trading platforms, ideal for trading various securities in the financial markets. Its powerful patent platforms are ranked by the highest surveys and feature mobile versions for both Android and iOS devices.
The market maker offers two types of trading platforms. The Next Generation trading platform is fast, reliable, and built using HTML5. MetaTrader 4 is also available as an alternative trading platform. The two trading platforms come with 79 technical indicators as well as 74 chart patterns. Automated trading is currently not available on the Next Generation platform. However, it is available on the MT4 trading platform.
The trading platforms also come with multiple assets and pattern recognition scanners that alert for trading opportunities. Access to spread betting is very much possible in addition to digital 100 trading, which allows traders to speculate in the financial markets with limited risk.
CMC Markets also offers a mobile app that allows trading while on the go. The app comes with powerful charts, multiple research tools as well as predefined watch lists for scanning. The mobile app interface resembles that of the web-based version.
CMC Market CFDs
A wide array of securities are on offer to trade on CMC markets. The CFDs include stocks, commodities indices as well as shares, treasuries, and currency pairs. The market maker offers support to more than 9,500 CFDs as well as major, minor, and exotic currency pairs totaling more than 330.
CMC Markets offers stockbroking in certain jurisdictions, such as Australia. Stockbroking allows clients to select and trade over 9,000 stocks available through the broker. When it comes to cryptocurrency trading, the market maker accords support for Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, and EOS.
|Currency Pairs Total||180|
|CFDS Offered Total||9,848|
|Cryptocurrency Trading As Actual||No|
|Cryptocurrency Trading as CFD||Yes|
CMC trading accounts
CMC Market offers two types of trading accounts: CMC Markets CFD and Corporate Accounts that vary on offerings, given regulatory restrictions in various jurisdictions. The two accounts come with the same universal features and set of features. They may differ on spreads, depending on the security one is trading.
In addition, CMC markets offer a Demo account that allows beginners to polish their trading skills, risk-free, before making a transition to a live account. Strong 24/5 customer support is available in addition to opportunities to communicate with well-known specialists on matters forex trading
The market maker also does offer Islamic trading accounts upon request on customer support.
CMC Market Trading Fees
CMC Market charges some of the lowest feed when it comes to trading CFDs. Competitive CFD spreads, as well as commissions, are always on offer throughout the trading session, allowing traders to maximize returns with each trade. The market maker also offers spreads of as low as 0.7 for the EUR/USD currency pair.
While the forex broker does charge overnight holding fees of $20 in Australia and Hong Kong, in some areas, it does not charge anything for trades held overnight.
Liquidity rebates are on offer for active traders that surpass $25 million in trading volumes per month.
CMC Market Leverage
Leverage makes it possible to trade much bigger volumes than what an initial capital can support. CMC Market offers leverage depending on regulations of each jurisdiction. For instance, traders from Australia and New Zeeland can enjoy the leverage of as much as $1:500. Clients in the European Union, on the other hand, must contend with a leverage level of 1:30.
CMC Markets Deposits and Withdrawals
CMC Markets has limited options for deposits and withdrawals. It only offers support for bank transfers as well as credit and debit cards from Visa and Mastercard. Transactions take one or two days to go through, both on withdrawals and deposits. The U.K. Forex broker does not charge any fees on deposits and withdrawals
While the market maker does not have a minimum deposit requirement. It recommends an initial investment of at least 200GBP to cater for trading costs.
CMC markets offer round the clock customer service, 24 hours a day, five days a week. Some of the contact options include local telephone numbers email as well as web-based live chat. The average connection time is 1 minute.
On its website, one can access answers to a variety of frequently asked questions pertaining to CMC accounts, as well as the kind of services offered.
How Safe is CMC Markets
CMC Markets is a low-risk forex broker, as it does not operate as a bank. The forex broker boasts of authorization from four tier-1 regulators and one tier 2 regulator that validates its reputation as a reliable and compliant forex broker.
The forex broker has been in operation for more than 20 years, conversely affirming its credentials in the business. Trust and reliability are not the only attributes that make this market maker stand out, but the fact that it is regulated’ by some of the biggest, financial regulatory bodies in the world.
The market boasts of compliance certificates from the Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), and the Financial Conduct Authority (FCA).