CMC Markets AU Review 2024

Last updated Mar 1, 2024
Логотип CMC Markets AU
4.5/5
Trading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

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 closely examine their services and the features they offer.

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

Foundation Year1988
Official Websitehttps://www.cmcmarkets.com
Regulated in CountriesUnited Kingdom, Germany, Canada, Australia, New Zealand, Singapore, United Arab EmiratesMore Details
Minimum Deposit
  • 1 AUD
Spreadfrom 0 points
Max Leverage1:30
Trading Assets
  • Forex
  • Indices
  • Cryptocurrency
  • Stocks
  • Bonds
  • ETF
  • Precious Metals
  • Energy Carriers
  • Agricultural Commodities
  • Options
Trading Platforms
  • MetaTrader 4
  • Next Generation
  • CMC Markets
Email Support
  • support@cmcmarkets.com.au
Hotline Phones
Social Media

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.

Reliability and Regulation

Rating:5/5

The following organizations regulate CMC Markets' operations:

Legal EntityRegulatorReview
CMC Markets UK review
CMC Markets EU review
CMC Markets CA review
Current review
CMC Markets NZ review
CMC Markets SG review
CMC Markets 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.

CMC Markets highly emphasises the security of client funds, adhering strictly to regulatory requirements. All retail client money is held in segregated client money bank accounts, separate from the company's funds. This segregation complies with the ASIC Client Money Reporting Rules and Regulations. CMC Markets, regulated by ASIC under AFSL No. 238054 for derivative products and AFSL No. 246381 for stockbroking services, ensures that client funds are clearly distinguished from its assets, adding a layer of protection for clients.

The firm conducts regular risk assessments of the central banks where client funds are deposited, ensuring their safety and compliance with regulatory standards. CMC Markets does not use retail client money to hedge with counterparties or as working capital. This policy further safeguards client assets against company liabilities.

Regarding fund management, CMC Markets performs daily client money reconciliations, ensuring that the amounts held in segregated accounts accurately reflect the retail client assets. The total value of a client's trading account is considered client money and is maintained in segregated trust accounts. CMC Markets undergo periodic internal audits and reviews overseen by independent Non-Executive Directors to ensure compliance and safeguard client funds.

In the event of CMC Markets' liquidation, retail clients' funds held in trust or segregated accounts would be returned to them after deducting the administrators' costs for handling and distributing these funds. This process ensures that clients' investments are prioritized over the company's general creditors in such scenarios, providing additional financial security.

Account Opening

Rating:4/5

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 client of the broker and open a real or demo account, it is necessary to fill out a form on the company's website.

Click the "Start trading" button and choose the type of account.

CMC Markets Account Types
CMC Markets Account Types

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

CMC Markets Registration form
CMC Markets Registration form

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 (AUD, USD, or HKD).

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 and 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.

Account Types

Rating:4/5

CMC Markets offers three types of accounts: two accounts for CFD trading and one for share investing. All accounts provide 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:

CFDFX ActiveShare Trading
Account CurrencyAUD, USD, HKDAUD
Minimum Deposit1 $
Trading PlatformsMetaTrader 4Next GenerationMetaTrader 4CMC Markets
Spreadfloatingfrom 0.7 pipsfor EURUSD~ 0.7 pipsfloatingfrom 0 pipsfor EURUSD~ 0.2 pipsfixed0 pips
Commission per Tradeper 1 lot2.5 $per 1 lot11 $
Trading AssetsForexIndicesCryptocurrencyStocksBondsETFPrecious MetalsEnergy CarriersAgricultural CommoditiesStocksBondsETFOptions
Opened Positions
Leverage1:1-1:301:1
Margin Call / Stop Out80% / 50%— / —
Order ExecutionMM
Demo Account
Islamic Account
RegisterRegisterRegister

CFD Trading

CFD Trading with CMC Markets offers traders two distinct account types: the standard CFD account and the FX Active account, each tailored to different trading styles and preferences. The CFD account is designed for traders who prefer trading without transaction fees. This account type offers wider spreads but eliminates the cost of commissions on trades, making it an attractive option for those who prioritize transparent cost structures in their trading activities.

On the other hand, the FX Active account caters to traders seeking tighter spreads, starting from as low as 0.0 pips on six major forex pairs. This account type introduces a commission model, charging a fixed rate of 0.0025% per transaction. Despite the presence of commissions, this account is ideal for those who engage in frequent trading and require narrow spreads for optimal trading conditions. Both accounts provide access to over 12,000 instruments, including a vast range of forex pairs, indices, commodities, shares, ETFs, and more, allowing traders to diversify their portfolios extensively.

Share Investing

CMC Markets offers a value-packed alternative for investors looking beyond the traditional big bank-backed brokers. As Australia's favoured non-bank broker, CMC Markets provides access to many investment opportunities. With the ability to invest in over 45,000 international and domestic shares and ETFs, investors have a world of options at their fingertips. This diverse range of investment choices includes global heavyweights like Apple and Tesla, allowing for a truly international investment experience.

A standout feature of CMC Invest is the offer of $0 brokerage on international stocks from the US, UK, Canada, and Japan, presenting a significant cost advantage for investors trading in these markets. This fee structure, combined with the ability to access over 45,000 shares and ETFs across the ASX and 15 international markets, makes CMC Markets an attractive option for those seeking global exposure. The simplicity of the service is further enhanced by the convenience of their app, which allows for transactions across 16 markets from a single AUD balance, streamlining the investment process.

CMC Pro

CMC Pro is an exclusive account tailored for Australian CFD traders who demonstrate a high level of commitment and experience in trading. This account is designed for those identified as 'wholesale clients' under the Corporations Act, offering them a range of benefits and higher leverage opportunities than retail clients.

Key Features of CMC Pro

  1. Increased leverage. Pro account holders can access higher leverage, providing greater market exposure for a smaller initial investment. This feature allows funds to be utilized more effectively, though it's essential to acknowledge the risks associated with increased leverage.

  2. Exclusive perks. CMC Pro clients enjoy various benefits, including cash rebates for high-volume trading, access to sophisticated order types, direct market access, and invitations to premium events. These perks enhance the trading experience and reward high-volume activity.

  3. Early access to new products. Pro account holders get early access to new products and initiatives by CMC Markets, ensuring they are always at the forefront of trading innovations.

  4. Funds segregation. Despite being classified as wholesale clients, Pro account holders have their funds protected in segregated bank accounts, ensuring security and trust.

Eligibility for CMC Pro

To qualify for a CMC Pro account, traders must meet the 'wholesale client' eligibility criteria. This includes having net assets of at least AUD 2.5 million or a gross income of AUD 250,000 per annum for the last two financial years. Additionally, traders must demonstrate significant trading experience, evidenced by at least 50 trades per quarter in any 4 quarters over the last 5 years, with a notional value of at least $500,000 each quarter. This experience can be from trading with CMC Markets or other providers. A short online test is also available to assess the trader's knowledge and sophistication in trading.

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 trading CFDs on multiple 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.

Alpha

CMC Markets introduces "Alpha," a premium service tailored for traders and investors who demand more from their trading experience. Alpha is the epitome of high-end trading, offering unparalleled resources and benefits, making it an ideal choice for high-volume CFD traders and share investors seeking a professional edge.

Premium Support and Exclusive Pricing

Alpha members benefit from immediate access to a dedicated point of contact, ensuring personalized and prompt assistance for all their trading needs. This level of support is coupled with exclusive pricing on a range of top-tier services, providing a cost-effective trading experience.

Tailored Services and VIP Perks

Staying ahead in the market is vital, and Alpha facilitates this with tailored market insights and technical analysis. Members also have the privilege of requesting stock reports and making larger trades, adding depth to their trading strategies. Additionally, Alpha offers unique money-can't-buy experiences, such as meeting experienced traders and renowned analysts at exclusive events.

Partnership with Forbes Australia

Stepping up to Alpha opens doors to premium membership benefits like a unique partnership with Forbes Australia. Members enjoy a complimentary subscription to Forbes' digital and print magazines, access to the exclusive Forbes Club network, and invitations to bespoke Forbes Australia events. These opportunities are about gaining market knowledge and connecting with a network of professionals and like-minded individuals.

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.

Commissions

Rating:4.5/5

CMC Markets does not charge fees for depositing or withdrawing funds. Trading commissions are pretty low. However, there is an inactivity fee for dormant trading accounts.

CFD Trading costs

Spreads and Swaps

The primary source of income for CMC Markets 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).

AssetAverage spreadSwap longSwap short
EURUSD0.7 pips-6.92 pips-0.93 pips
AUDUSD0.7 pips-7.00 pips-0.08 pips
GBPUSD0.9 pips-3.66 pips2.55 pips
USDJPY0.7 pips12.51 pips18.06 pips
USDCAD1.3 pips-1.93 pips4.19 pips
USDCHF1.2 pips7.40 pips13.29 pips
NZDUSD1.5 pips-3.85 pips4.10 pips

Commission per lot

CMC Markets implements a commission structure for its FX Active account, charging a fee for each lot traded. Specifically, the broker levies a cost of $2.5 per transaction on the FX Active account. This rate is considered low compared to average commissions charged by other Forex brokers in the market.

BrokerIC Markets AustraliaRaw SpreadPepperstone AURazorCMC Markets AUFX ActiveVantage AURawAdmirals AUZero.MT5
Commission per lot$3.5$3.5$2.5$3$3

Inactivity Fee

It's important to note that CMC Markets charges an inactivity fee. This monthly charge of AU$15 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.

Share Trading Costs

Share Trading Costs at CMC Markets are structured to provide value and flexibility for both Australian and international stock trading. The brokerage offers competitive rates for different types of traders, catering to various investment needs.

Australian Listed Products Brokerage Fees

Order TypeStandard Account FeeALPHA Account Fee
First Buy Order ≤ $1,000$0$0
All Other Buy Orders$11.00 or 0.10%$9.90 or 0.075%
All Sell Orders$11.00 or 0.10%$9.90 or 0.075%

Note: The first buy order fee is limited to orders under $1,000 per stock per trading day.

International Shares Brokerage Fees

RegionValue of Shares (AUD)Brokerage Fee (AUD)
US, UK, Japan, CanadaAll$0*
Outside US, UK, Canada, JapanAll$59.95 or 0.59%**

*Minimum trade value of $1,000 applies. **Brokerage is the greater of the dollar value or the percentage amount shown.

Options Trading Brokerage Fees

MethodTrade ValueBrokerage (including GST)
Phone Only$0 – $8,000$44.00 + clearing house fee
Over $8,0000.55% + clearing house fee
Online Platform$0 - $10,000$33.00
Over $10,0000.33%

mFunds Pricing

Fee TypeBrokerage Fee
mFund Transactions$29.95 or 0.11%, whichever is greater

Deposit and Withdrawal

Rating:4.5/5

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 SystemCurrenciesDeposit FeeOperation Limit
PayPalPayPal
AUDUSDHKD
1%
Bank TransferBank Transfer
AUDUSDHKD
Credit and Debit CardsCredit and Debit Cards
AUDUSDHKD
1%
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 SystemCurrenciesWithdrawal FeeOperation Limit
PayPalPayPal
AUDUSDHKD
0%
Bank TransferBank Transfer
AUDUSDHKD
0%
up to 100000 AUD
Credit and Debit CardsCredit and Debit Cards
AUDUSDHKD
0%

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 3-5 days, while bank transfers can take up to 5 days.

Markets and Products

Rating:4.4/5

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

What markets are available?

  • 312 currency pairs
  • 141 commodities
  • 12 Forex indices
  • 81 stock indices
  • 22 cryptocurrencies
  • 10,361 stocks
  • 1,204 ETFs
  • 34 stock baskets
  • 60 bonds

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.

Trading InstrumentMax. Leverage for Retail Traders
Forex
1:30
Precious Metals
1:20
Energy Carriers
1:10
Agricultural Commodities
1:10
Indices
1:20
Stocks
1:5
ETF
1:5
Bonds
1:30
Cryptocurrency
1:2

Trading Platforms

Rating:4.5/5

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

MetaTrader 4 CMC Markets
MetaTrader 4 CMC Markets

Next Generation

The Next Generation (NGEN) platform boasts extensive capabilities and a high level of customization, for which international experts have repeatedly awarded it.

CMC Markets platform
CMC Markets platform

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 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.

CMC Markets Watchlist
CMC Markets Watchlist

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.

CMC Markets Charts
CMC Markets Charts

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.
CMC Markets Pattern Scanner
CMC Markets Pattern Scanner

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.

Share Trading Platform

The CMC Markets standard share trading platform has advanced charting packages, offering over 100 indicators for comprehensive market analysis. This feature-rich platform is designed for new and experienced traders, enabling them to identify market trends and fine-tune trading strategies effectively. With an intuitive interface, it provides easy access to essential tools for market analysis.

CMC Markets Share Trading Platform
CMC Markets Share Trading Platform

Traders can leverage various trading tools, including unlimited conditional orders for precise entry and exit strategies. The economic calendar and Morningstar stock filter aid in making informed decisions by providing insights into market events and helping identify stocks that meet specific investment criteria. Additionally, the platform offers a unique subscription service for Investment Portfolios, allowing traders to follow proven strategies with an initial free trial period.

The platform also integrates various news and market analysis sources, including live news feeds, comprehensive stock-level analysis from Morningstar, and detailed research from the screener. Social media integration through CMC TV on YouTube and Twitter feeds ensures traders are constantly updated with the latest market trends and analyses. Furthermore, the integration with Sharesight for tax and portfolio reporting streamlines the tracking and management of investments. CMC Markets provides mobile apps for convenience and continuous access, allowing traders to manage their portfolios on the go.

Analytics

Rating:5/5

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 Analysis
CMC Markets Analysis

Education

Rating:5/5

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.

Learn To Trade with CMC Markets
Learn To Trade with CMC Markets

Customer Support

Rating:4/5

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 traders from Australia:

CMC Markets Pros and Cons

Advantages of CMC Markets

  1. Regulation. CMC Markets is regulated by leading financial authorities, including the ASIC, 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 Next Generation 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 seek a trustworthy and reputable broker with extensive experience.

Visit CMC Markets AUTrading CFDs carries high risks. You may lose all invested funds
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

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