Established in the 1989, CMC Markets is one of the most renowned brokers in the UK. The broker offers plenty of assets such as 9,400 stocks, 1,000 ETFs, more than 30 commodities, 8 cryptos and 330 forex pairs. The broker also boasts an affordable fee structure with low forex spreads, no deposit or withdrawal fees apart from international bank transfers that hold a transfer fee of 15 pounds. If you are a stock, commodity, ETF or forex trader you should definitely signup as the broker offers some really good value.
However, if you are a broker in the US and across the globe, looking to get started with trading you should definitely have a look at Capital.com. With one of the most extensive educational resources and a customer support program that offers every investor their own dedicated account manager, Capital.com promises to be a broker that will be by your side through thick and thin. Sign up now and become one of the thousands of readers who have already used this platform and given us positive reviews.
|Ease of Use||7|
|Deposit & Withdrawal Options||10|
|Demo Account & Educational Resources||8|
|Safety & Regulation||10|
CMC Markets Introduction
Conceived in 1989, CMC Markets is one of the oldest and most reputable brokers in the broker industry of the UK. The broker is listed on the London Stock Exchange and regulated by the Financial Conduct Authority of the UK (FCA). This is truly a global broker that offers its services in most countries in the world, and in the list below you can check whether or not that includes yours.
|Antarctica||Antigua and Barbuda||Argentina||Armenia||Aruba|
|Bolivia||Bosnia and Herzegowina||Botswana||Bouvet Island||Brazil|
|Brunei Darussalam||Bulgaria||Burkina Faso||Burundi||Bahrain|
|Bermuda||Bhutan||Bolivia||Bosnia and Herzegowina||Botswana|
|Bouvet Island||Brazil||Brunei Darussalam||Bulgaria||Burkina Faso|
|Burundi||Cameroon||Cape Verde||Cayman Islands||Central Africa|
|Chad||Chile||China||Christmas Island||Cocos Islands|
|Colombia||Comoros||Congo||Cook Islands||Costa Rica|
|El Salvador||Equatorial Guinea||Eritrea||Estonia||Ethiopia|
|Faroe Islands||Fiji||France||French Guiana||French Polynesia|
|Indonesia||Iraq||Ireland||Isle of Man||Italy|
|Nauru||Nepal||Netherlands||Netherlands Antilles||New Caledonia|
|Myanmar||Palau||Panama||Papua New Guinea||Paraguay|
|Puerto Rico||Romania||Rwanda||Saint Barthélemy||Saint Kitts and Nevis|
|Saint Lucia||Samoa||San Marino||Saudi Arabia||Senegal|
|Serbia||Seychelles||Sierra Leone||Singapore||Sint Maarten|
|Slovenia||Solomon Islands||Somalia||South Africa||South Korea|
|South Sudan||Spain||Sri Lanka||Suriname||Swaziland|
|Togo||Tokelau||Tonga Islands||Trinidad and Tobago||Tunisia|
|Turkey||Ukraine||United Arab Emirates||United Kingdom||Uruguay|
|Uzbekistan||Vatican||Venezuela||Vietnam||Virgin Islands UK|
CMC Markets Pros & Cons
- Plenty of Asset Classes & Options
- Decent Customer Service
- Competitive Fee Structure
- Good Educational Resources
- Amazing Referral Program
- Slow Signup Procedure
- No Dedicated Account Manager
With CMC Markets, you do not need to worry about choosing from different types of accounts. CMC Markets has done a good job of providing a one-glove-fits-all solution for consumers from all around the world. With that account, you have access to all of the tradeable assets they offer and all of the tolls in their trading platform.
#1 CMC Markets Fees
CMC Markets offers a very decent fee structure that many traders will find attractive. However, on the negative side, the broker does charge commissions (covered in the section below).
CMC Markets Deposit & Withdrawal Fees
Generally, there are no deposit or withdrawal fees for trading with CMC Markets, which bodes well for users. However, there is a £15 charge for international bank transfers which may make trading expensive for beginners or small-time foreign traders who plan on funding from or withdrawing to a bank account abroad. But there’s nothing to worry about, since there are plenty of other ways in which international traders can trade without any deposit and withdrawal fees such as credit/debit cards or electronic wallets and we’ll get to those in a miunute.
CMC Markets Inactivity Fees
A £10 inactivity fee is associated with your account if you have not used the platform for a period of 12 months. While having an inactivity fee is not ideal, the fact that it comes into effect after an entire year is good news for traders in the sense that most brokers enact inactivity fees after only a couple of months of inactivity. The fact that CMC Markets gives you a year provides you with plenty of time to withdraw your funds before any inactivity fees start to kick in, especially if you do not want to use the platform anymore.
CMC Markets Forex Spread Rates
The forex spread rates offer some really good value for traders, especially from major currency pairs. Some of the spreads on commonly traded major forex pairs are shown below:
|Major Pairs||Spread Rates|
The EUR/USD, AUD/USD, GBP/USD currencies have some really good spread rates associated with them. Usually, brokers have spread greater than 1 or 2 pips for the aforementioned currencies. Let’s have a look at some of the minor pairs that are on offer.
|Minor Pairs||Spread Rates|
Some of the pairs that offer some really good value are EUR/AUD, AUD/NZD, EUR/NZD, which provide better value than most other brokers. However, there are pairs like EUR/NOK that are quite expensive and may not make much sense to trade in small amounts. Now let’s decouple some of the emerging pairs.
|Emerging Markets Forex Pairs||Spread Rates|
The USD/CZK and USD/RUB offers some really good value for users. The fact that the broker offers the Russian Ruble and at such a competitive spread is something that really fascinated us while we were analyzing this broker, and could single-handedly tilt the scale for those looking to trade this particular currency pair. However, there are other currencies like the Mexican Peso (MXN) and the South African rand (ZAR) that are quite expensive and may not be profitable to trade on a daily basis.
Commission On Stock CFD’s
The broker charges some expensive commissions for trading stock CFD’s from different markets. Attached are some commissions for trading stock from different countries
|Country||% Commission Per Trade||Currency||Minimum Commission|
|US||2 cents per unit||USD||USD 10.00|
|Canada||2 cents||CAD||CAD 10.00|
|Hong Kong||0.18%||HKD||HKD 50.00|
The minimum commission plus the percentage commission can be expensive for small time traders however, if you trade in bulk then these commissions may not matter much to you.
The fact that the broker does not have any deposit and withdrawal fees and offers good forex spreads means that the broker scores a solid 8. The only reason it loses a few points is due to the inactivity fees and commissions.
CMC Markets Fees Score: 8/10
#2 CMC Markets Signup Process
The signup process for CMC Markets is completely online. However, the procedure can be a bit complicated process at times. For instance, the documents required to register may vary from country to country which can cause some consternation among potential users. The common documents requested from most users include:
- Valid passport
- Valid photo driving licence
- Valid national ID card
Proof Of Residence Documents
- Bank statement in your name posted to your residential address (no online statements)
- Mortgage statements in your name
- Utility bills. All proof of residence documents must be dated within the last three months.
The broker loses a few points because it can take up to 2 days or more to verify your account. The fact there are brokers like easyMarkets that can verify your account the very same day that you apply means that the broker loses a few points in this dimension.
CMC Markets Signup Process Score: 7/10
#3 CMC Markets Minimum Initial Deposit
If you want to try out the platform but do not have a lot of funds to invest, no need to worry. CMC Markets has doesn’t require any minimum initial deposit. You can test out the platform with whatever amount you feel like investing and determine if the platform is for you or not.
CMC Markets Minimum Initial Deposit Score: 10/10
#4 CMC Markets Ease of Use
CMC Markets is available via mobile, desktop and web platforms.
CMC Markets Mobile & Web Platform
CMC Market’s mobile and web platforms are really good. They offer a decent and descriptive interface and some really good customizability features, such as the option to design your own dashboard. The dashboard, however, does seem a bit cluttered but it is customizable so you could declutter it if you prefer less information. You can set price alerts or news alerts that can give you timely information for the assets that you hold on the portfolio in order to make important business decisions.
CMC Markets Desktop Platform
CMC does not have an in-house proprietary desktop platform. Instead, it uses the Meta Trader 4 platform. While the Meta Trader 4 platform is quite advanced, it lacks good graphics which is visible from the picture of the platform below. The CMC platforms seem to be much more intuitive than what Meta Trader offers. However, an advantage of the Desktop platform is that you can add alerts and notifications, something not available in the other platforms.
The lack of advanced research tools such as advanced statistical measures and charting tools, coupled with the lacklustre desktop platform means that the broker loses a few points.
CMC Markets Ease of Use Score: 7/10
#5 CMC Markets Deposit & Withdrawal Options
There are various options through which you can deposit or withdraw your funds. It is always good for a broker to have multiple deposit and withdrawal options to provide you with the options that best suit your needs. Some of the options offered are as below:
- Bank or Wire Transfer
- Credit/Debit Cards
- E-Wallets such as Skrill & Paypal
The broker scores a perfect score in this dimension because they offer customers the most important and popular options to use their funds in the manner that they see fit.
CMC Markets Deposit & Withdrawal Options Score: 10/10
#6 CMC Markets Customer Support
The platforms with which you can access customer support are the standard platforms that every broker uses. You can access the platform via:
- Live Chat
- Telephone at +44 (0)20 7170 8200
- Email at [email protected]
The customer support is available in several languages such as :
However, the email response time can be a bit slow at times and the fact that the broker does not offer dedicated and free account manager like Capital.com means that the broker loses a few points.
CMC Markets Customer Support Score: 7/10
#7 Asset Classes
CMC Markets is one of the very few brokers in our database like Capital.com that fulfills the perfect score criteria for this dimension. The following asset types are allowed:
|Stock Indices||30 +|
With more than 1000’s of stocks and hundreds of forex options and a 1,000 ETFs users are literally spoiled for choice. CMC has you covered if you are a stock trader, commodity trader or a bond or a stock indice trader wanting to use the platform.
Forex & Stocks
You can trade in various major, minor or emerging pairs such as:
There are some really good varieties that you can find here such as Czech, Russian and Norwegian currencies. This kind of variety is not available with most brokers and something unique to the CMC platform only.
Commodities & Bonds
With more than 30 commodities and 20 bonds there are plenty of choices for you as a trader here. Some of the common commodities offered are:
There’s plenty of variety in commodities and in bonds you can buy different types of government bonds such as US T-bills or US long term bonds moreover, you can also find various types of EURO Bund and EURO Cash bonds.
Stock Indices & Crypto
Some of the common indices offered by the platform includes:
- US 100
- US 30
- UK 100
- UK 30
- Germany 30
- Australia 200
You have a variety to create a diverse portfolio by buying indices from different countries. Stock indices are often a passive way of investing and act as a way of reducing risks in portfolios and CMC gives you this opportunity by giving you the option to take stock indices from some of the best performing international markets.
Some of the crypto options offered are:
The crypto options are much more than those offered by the other brokers that just focus on 3 or 4 major cryptos, CMC goes an extra step in providing more options for crypto.
The vast number of options offered by CMC means that the broker scores a perfect score over here.
CMC Markets Asset Classes Score: 10/10
#8 Referral Program
Trading in groups is always fun as you can bounce your ideas with someone to ensure that you make the best decisions that you can make to earn better rewards. CMC provides you with this opportunity by giving you $250 in rewards for referring your friends and platform to the platform. You can earn more and more funds by referring more and more friends to the platform.
In order to earn the referral reward your friend must place trades on the account with a minimum aggregate turnover of US$500,000 in share CFDs (excluding US Shares) or US$2,000,000 across all CFD classes.
The referral program scores a perfect score because of the great value that it provides for users.
CMC Markets Referral Program Score: 10/10
#9 Demo Account & Educational Resources
CMC Markets provides a demo account that allows you to test out a trading strategy before actually investing any money into it. The demo account has most of the features of an actual amount that can help you in training for trading with an actual or live account
The educational resources offered are more extensive than most brokers such as the fact that the broker offers you the opportunity to learn trading from
- Basic educational videos of trading with different assets
- Articles on trading assets and current market news related to different asset types
The extensive educational resources portfolio ensures that you are well trained to use the platform and always ready to make the most informed decisions that would maximize the benefit you receive from your buying and selling decisions. The only reason that the broker loses a couple of points here is that it does not offer courses to learn to trade that other brokers like Capital.com offer.
CMC Markets Demo Account & Educational Resources Score: 8/10
#10 Safety & Regulation
CMC Markets is regulated by a tier-1 broker in the Financial Conduct Authority (FCA). Moreover, the broker is also listed on the London Stock Exchange which makes it answerable to extra rules and regulations apart from the ones imposed by FCA. This bodes well for users because the more regulation a broker has means that it follows strong rules and regulations to avoid any irregularities. The fact that the broker is regulated by a tier-1 broker and listed on the London Stock Exchange means that it scores a perfect 10.
CMC Markets Safety & Regulation Score: 10/10
CMC Markets vs. Capital.com
CMC Markets is one of the highest ranked brokers in our database however, we feel that the broker could improve on a few dimensions
Capital.com has one of the best customer support cycles as it gives you a dedicated account manager who advises you on your trades and keeps a record of your transactions so you do not get lost in a customer support cycle. Often, availing customer service can be a problem because lots of brokers are slow in providing customer service and you have to explain your problem to different representatives to solve it.
Sign Up Procedure
With Capital.com, the signup procedure only takes a few hours and it is very streamlined compared to CMC Markets. You can open up your trading account only within a few minutes with Capital.com rather than waiting for a few days for your account to be verified.
Comprehensive Educational Resources
Capital.com has a lot of educational resources to train any kind of trader looking to deal in any kind of asset. Often brokers offer a few basic educational resources for traders but Capital.com does a good job in this regard and it is with you in helping you learn to trade savvily and efficiently. Some of the resources offered are as below:
- Tutorial videos on using the platform
- Educational videos on trading different assets
- Educational articles
The resources offered to teach you everything from learning how the platform works to educational videos and webinars. Capital.com also offers asset trading training guides.
- CFD training guides
- Commodities training guides
- Indices trading guides
- Trading psychology guides
- Shares trading guides
- Forex trading guides
Capital.com has you covered if you want to start trading an asset that you have not traded before. They also offer 5 courses that are aimed at training beginners and refreshing the knowledge of experienced traders.
Capital.com Online Courses
- Introduction to financial markets
- ABC of derivatives
- Financial instruments
- Derivatives and risks of trading
- What are leverage and margin
The online courses are designed for beginners but anyone can benefit from them in learning the basics and good practices and knowledge of the industry.
So what are you waiting for signup today for the best broker in the business that has more assets, better educational resources and more comprehensive education resources.
Related: If you want to learn more about this broker, you can read this excellent review of Capital.com.
CMC Markets has a diverse asset range with 9,400 stocks, 330 forex pairs, 30 plus commodities and over a 1,000 ETFs at competitive rates. Moreover, the broker also has a good customer service and offers a really good referral program for you to get started with trading with your friends. Signup now to test out the platform if you are a stock, forex or commodity trader.
If you are a beginner or a trader in the US you should check out Capital.com as CMC Markets does not offer services in the US. Capital.com offers a very good platform for beginners with a dedicated account manager to help you in your journey towards becoming a great trader. Capital.com offers all the asset types and options that CMC Markets does at competitive spreads and rates. Hence, you should definitely try out Capital.com as you would enjoy the platform as most of our ardent readers do.