Are you considering trading on the Forex market but unsure which broker to choose? You've probably heard of CMC Markets, but does it live up to expectations?

This article presents our comprehensive review of CMC Markets and explains why it is one of the top Forex and CFD brokers. We will examine their services and features closely.

So, if you're ready to trade currency, read on for our full review of the Forex and CFD broker CMC Markets!

CMC Markets Broker Overview

The British broker CMC boasts a significant "life experience" – the company began its operations in the financial markets in 1989.

Dynamic development has allowed CMC to gather clients worldwide (over 250,000 in 100 countries). The company has its representations in ten countries, covering all continents except Africa and South America.

CMC Markets is among the most significant market makers in the Forex market and has been repeatedly recognized with awards at prestigious contests.

CMC Markets Review Summary

Our review evaluates the broker CMC Markets on several vital parameters, including regulation, trading conditions, available platforms, analytical tools, educational materials, and customer service quality. Our broker evaluation methodology is based on an objective and comprehensive analysis, which allows us to give you the most complete picture of the broker.

We hope our review will help you make an informed decision about choosing a broker. Continue reading to learn more about CMC Markets.

The following organizations regulate CMC Markets' operations:

Legal Entity	Regulator	Review
CMC Markets UK plc CMC Markets UK plc	FCA FCA	CMC Markets UK review
CMC Markets Germany GmbH CMC Markets Germany GmbH	BaFin BaFin FMA FMA KNF KNF FSAN FSAN CNMV CNMV	CMC Markets EU review
CMC Markets Canada Inc CMC Markets Canada Inc	CIRO CIRO	CMC Markets CA review
CMC Markets Asia Pacific Pty Ltd CMC Markets Asia Pacific Pty Ltd	ASIC ASIC	CMC Markets AU review
CMC Markets NZ Limited CMC Markets NZ Limited	NZ FMA NZ FMA	CMC Markets NZ review
CMC Markets Singapore Pte Ltd CMC Markets Singapore Pte Ltd	MAS MAS	CMC Markets SG review
CMC Markets Middle East Ltd CMC Markets Middle East Ltd	DFSA DFSA	Current review

CMC Markets is regulated in many countries, including the UK, Germany, Australia, Canada, etc. This indicates that the company is subject to the laws of these countries and must adhere to strict standards concerning its clients.

The broker is obliged to follow the Client Assets (CASS) rules, which ensure the protection of client funds. This means that clients' funds are kept separate from those of the company.

If the broker cannot fulfill its financial obligations, the Financial Services Compensation Scheme (FSCS) protects clients' rights by providing compensation of up to £85,000.

The account opening process at CMC Markets involves registration, verification, and selecting account settings. Although the process can take 1-2 business days and requires providing quite extensive information, it remains standard compared to most brokers. The absence of minimum deposit requirements is a significant advantage.

Registration

To become a broker client and open a real or demo account, you must fill out a form on the company's website.

Select your country of residence after clicking the "Start trading" button.

Next, enter your email, create a password, and choose a trading platform (CMC Markets or MetaTrader 4).

After entering your phone number and verifying your email, you can register a trading account at CMC Markets. The broker offers to select:

• Country of residence;
• Instruments for trading;
• Account type;
• Account currency (USD, EUR, or GBP).

By the way, CMC Markets immediately provides access to a demo account. All data is sent to the broker by email.

To continue registration, you need to enter the following information:

• Surname;
• First name;
• Phone number;
• Date of birth;
• Nationality;
• Passport number and its expiration date;
• Identification number;
• Residential address;
• Employment status;
• Source of income;
• Annual income;
• Value of assets;
• Trading information (duration of deals, risk level, and trading experience).

On the last registration page, you need to familiarize yourself with and agree to the rules of the trading platform and all the risks of trading futures.

Verification

To be able to deposit and withdraw funds and trade on a real account, you need to verify your account by confirming your identity and address by uploading the corresponding documents.

The broker reviews your application to open an account within 1-2 business days.

Minimum Deposit

One of the advantages of working with CMC Markets is the absence of minimum deposit requirements. This means you can start trading without depositing large sums of money into your account.

CMC Markets offers only one account for CFD trading, which provides access to a wide range of trading instruments. A demo account is also available for those who want to practice before trading on a real account.

However, despite these offerings, there is a lack of account options that could satisfy the needs of different types of traders. There are no cent accounts, accounts with fixed spreads, Islamic accounts, or investment accounts such as PAMM accounts or copy trading of successful traders.

Trading Accounts

The broker provides the following trading conditions:

Demo Account

The CMC Markets demo account offers a unique opportunity for traders to familiarize themselves with the platform and test various trading strategies without the risk of losing real funds. This account provides virtual funds of £10,000, allowing traders to gain realistic experience in trading CFDs on various markets, including indices, currency pairs, stocks, commodities, and treasuries.

The demo account at CMC Markets has no expiration date, so you can use it for as long as you need.

Order Execution

A dealing desk technology, which is 100% automated, is used. All operations proceed without any dealer intervention. It applies to all trading instruments – Forex, stocks, bonds, commodities. The trader can use the best offers for buying/selling an asset, selecting from 10 different offers on the price ladder.

CMC Markets does not charge fees for depositing or withdrawing funds. As for trading commissions, the broker only earns from spreads and swaps. However, there is an inactivity fee for dormant trading accounts.

Spreads and Swaps

CMC Markets' primary source of income is spreads and swaps. The broker offers competitive spreads starting from 0.7 pips for major currency pairs such as EUR/USD and AUD/USD. Swaps also vary depending on the currency pair and the direction of the position (long or short).

Inactivity Fee

It's important to note that CMC Markets charges an inactivity fee. This monthly charge of $15 (or the equivalent in another account currency) is levied on a client's trading account if there is no Forex market activity for 12 months. The fee is charged monthly until the client begins trading, closes the trading account, or the account balance runs out.

Rebates

You can expect to receive rebates (cashback) from CMC Markets if you're an active trader.

Your total monthly CFD trading volume on Forex must be at least $50 million to qualify for rebates. When you reach this level, you receive either $5, $7, or $10, depending on the level achieved, for each $1 million of your trading volume, starting from the first trade in the month. You also receive a discount on swaps.

At CMC Markets, we recognize the availability of various methods for depositing and withdrawing funds, the absence of broker commissions, and reasonable processing times for transactions.

Deposit Methods

The following options are available for account funding:

Payment System	Currencies	Deposit Fee	Operation Limit
PayPal	USDEURGBP		from 100 USDfrom 100 EURfrom 100 GBP
Bank Transfer	USDEURGBP		from 100 USDfrom 100 EURfrom 100 GBP
Visa	USDEURGBP		from 100 to 50000 USDfrom 100 to 50000 EURfrom 100 to 50000 GBP
Mastercard	USDEURGBP		from 100 to 50000 USDfrom 100 to 50000 EURfrom 100 to 50000 GBP
Maestro	USDEURGBP		from 100 to 50000 USDfrom 100 to 50000 EURfrom 100 to 50000 GBP
Онлайн банкинги	USDEURGBP		from 100 to 50000 USDfrom 100 to 50000 EURfrom 100 to 50000 GBP

CMC Markets does not charge a deposit fee. However, there may be a fee from the payment system, which we have considered in the table above.

Withdrawal Methods

At CMC Markets, the following withdrawal methods are available:

Payment System	Currencies	Withdrawal Fee	Operation Limit
PayPal	USDEURGBP	0%	up to 10000 USDup to 10000 EURup to 10000 GBP
Bank Transfer	USDEURGBP	0%	—
Visa	USDEURGBP	0% limitscommission limits	up to 40000 USDup to 40000 EURup to 40000 GBP
Mastercard	USDEURGBP	0% limitscommission limits	up to 40000 USDup to 40000 EURup to 40000 GBP
Maestro	USDEURGBP	0%	up to 40000 USDup to 40000 EURup to 40000 GBP

The broker does not charge a fee for withdrawals. However, there may be a commission from the receiving bank.

The broker processes withdrawal requests within one business day. Withdrawals to credit cards and PayPal take 1-2 days, while bank transfers can take up to 5 days.

CMC Markets offers various CFD trading instruments for different financial markets.

What markets are available?

Margin Requirements

Margin requirements refer to the percentage of the total value of a trader's position in their account as collateral to open and maintain a position. At CMC Markets, margin requirements vary depending on the trading asset.

The broker offers two trading platforms: MetaTrader 4 and its proprietary CMC Markets platform. Both platforms are feature-rich and provide numerous tools for analysis and trading. However, some traders may find the CMC Markets platform complex for beginners.

MetaTrader 4

MetaTrader 4 (MT4) is one of the world's most popular trading platforms available to CMC Markets clients. MT4 is known for its reliability, powerful analytical tools, and flexibility.

The platform provides a wide range of features, including one-click trading, many technical indicators, charting tools, and the capability for automated trading using expert advisors.

MT4 also offers a comprehensive environment for developing and testing your own trading strategies and indicators with the integrated MQL4 programming language.

The platform is available in various formats, including desktop applications, a web version, and mobile apps for iOS and Android, allowing traders to monitor the market and trade anytime and anywhere.

CMC Markets

The CMC Markets platform boasts extensive capabilities and a high level of customization, for which international experts have repeatedly awarded it.

You can open tabs and windows, resize them, and customize the platform to your preferences.

Let's move on to the platform's capabilities.

1. The product library is conveniently categorized. Each list of CFD instruments can be filtered by popularity, country, category, subcategory, etc. This is useful for creating watchlists.

2. Watchlist – You can create as many as you want based on your chosen criteria. Watchlists can be viewed as a classic table with charts or a quote panel.

3. You can create price alerts for any product.

4. You can choose a dark or light theme for the platform or change the menu layout.

The platform allows up to 4 charts to be displayed simultaneously. For analysis, there are many timeframes (1 second to 1 month) and chart types (Japanese candles, bars, Kagi, etc.).

The chart can be marked up with a multitude of tools. All lines, levels, angles, patterns, labels, etc., are available.

The broker is also generous with indicators. Some indicators overlay directly on the chart (moving averages and their derivatives) and classic oscillators.

The platform also offers analytical tools:

• News from Reuters;
• Economic calendar;
• Various insights;
• Chart forum;
• CMC TV;
• CMC Markets Blog;
• Pattern Scanner is a tool that automatically searches for and draws technical patterns on charts.

Everything needed for a successful CMC Markets trading platform – workspace customization, creating watchlists, charting with indicators, news on a neighbouring tab, and analytical tools are available.

CMC Markets offers a broad array of analytical tools and high-quality information provision.

Traders are provided with information in the following areas:

• Expert commentary on financial markets;
• Commentary and forecasts for currency pairs;
• Technical analysis;
• Fundamental analysis.

The markets researched include Europe, Asia, the USA, Canada, and the UK.

The "Analytics" (News & Analysis) section on the website contains updates from Reuters, a weekly economic calendar, charts, exchange rates for currency pairs, and schedules for trading on Forex and stock exchanges.

Information on all CMC Markets company analysts is also available.

CMC Markets takes education seriously, and its training programs are among the best in the industry.

Forms of education include:

• Seminars,
• Webinars,
• Video conferences,
• Courses.

Leading company traders conduct classes and regularly feature world-renowned financial market experts.

Thematic sections and class schedules are published on the broker's website. Clients can choose the course and sign up through a feedback form. Most lectures and seminars are free for the company's clients.

CMC Markets has a solid technical support system in place. The company has opened 15 offices around the world. Local traders can seek help via local telephone numbers or through email.

CMC Markets' support operates 24/5 from Monday to Friday.

However, it should be noted that the broker's website lacks an online chat option, which could facilitate and expedite communication with support.

Below is the contact information for international traders:

• Phone: +44 (0)20 7170 8200

• Email: clientmanagement@cmcmarkets.co.uk

CMC Markets Pros and Cons

Advantages of CMC Markets

1. Regulation. CMC Markets is regulated by leading financial authorities, including the UK FCA, ensuring the security of client funds.
2. Low trading fees. The broker offers competitive spreads and swaps and does not charge fees for deposits or withdrawals.
3. Wide range of markets and products. CMC Markets provides access to various trading instruments, including currency pairs, stocks, indices, commodities, and cryptocurrencies.
4. Trading platforms. Access to the popular MetaTrader 4 and CMC Markets platforms, which offer flexible settings and an intuitive interface.
5. Analytics. The broker offers extensive analytical materials, including news from Reuters, an economic calendar, and technical analysis.
6. Education. CMC Markets offers comprehensive educational materials, including webinars, seminars, and courses.

Disadvantages of CMC Markets

1. Limited account options. The broker offers a limited number of account types, which may not meet the needs of all traders.
2. Inactivity fee. The broker charges a monthly fee if an account remains inactive for 12 months.
3. No online chat. While support is available 24/5, the lack of an online chat option may hinder instant communication with support.

Conclusion

CMC Markets has been a reliable CFD and Forex broker in the business for a long time. Top-tier financial authorities regulate the company, offers an excellent trading platform, and has low commission fees.

We believe it is an excellent choice for beginners and experienced traders. CMC Markets is a good option if you are seeking a trustworthy broker with extensive experience.