CMC Markets UK PLC Review 2024

Last updated Mar 1, 2024
Логотип CMC Markets UK
4.3/5
67% of retail investors lose money when trading CFDs with this broker
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 GBP
Spreadfrom 0.2 points
Max Leverage1:30
Trading Assets
  • Forex
  • Indices
  • Stocks
  • Bonds
  • ETF
  • Precious Metals
  • Energy Carriers
  • Agricultural Commodities
Trading Platforms
  • MetaTrader 4
  • CMC Markets
Email Support
  • clientmanagement@cmcmarkets.co.uk
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
Current review
CMC Markets EU review
CMC Markets CA review
CMC Markets AU 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.

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 the company's.

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.

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.

Enter your email, create a password, and choose a trading platform (CMC Markets 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 (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.

Account Types

Rating:2.5/5

CMC Markets offers two main types of accounts: a standard trading account and a CMC Pro. Both 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:

Spread BettingCFDFX Active
Account CurrencyGBP, EURGBP, USD, EUR, AUD, CAD, NOK, NZD, PLN, SEK, SGD
Minimum Deposit1 £
Trading PlatformsMetaTrader 4CMC Markets
Spreadfloatingfrom 0.2 pipsfor EURUSD~ 0.7 pips
Commission per Trade
Trading AssetsForexIndicesStocksBondsETFPrecious MetalsEnergy CarriersAgricultural Commodities
Opened Positions
Leverage1:1-1:30
Margin Call / Stop Out80% / 50%
Order ExecutionMM
Demo Account
Islamic Account
RegisterRegisterRegister
  1. Spread Betting. It is ideal for traders in the UK seeking to benefit from market movements without paying stamp duty or capital gains tax. Best suited for those interested in a tax-efficient trading option.

  2. CFD. Suitable for experienced traders who want to trade a variety of instruments globally. Perfect for traders looking to hedge physical positions and willing to pay capital gains tax.

  3. FX Active. Designed for active forex traders focusing on high-volume trading in the FX markets. It is ideal for those who need advanced tools and are comfortable with commissions on share trades.

CMC Pro

CMC Pro is a specialized account type designed for professional traders looking for a provider that recognizes their level of commitment to trading. This account is intended for those who are active in trading CFDs.

It should be noted that CMC Pro does not offer the same levels of protection as retail accounts, so traders should be aware of all associated risks. Nonetheless, CMC Pro offers a premium trading experience based on the company's 30 years of experience.

To be eligible for CMC Pro, traders must meet specific criteria. This includes active trading (at least 10 significant transactions per quarter over the last year), a financial instruments portfolio exceeding €500,000, and at least one year of experience in the financial sector.

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 Alpha

CMC Alpha is a premium membership program offered by CMC Markets, designed to elevate the trading experience for its members. This program is tailored for traders who maintain an account value of £25,000 or more, unlocking exclusive benefits to enhance their trading journey.

As a member of CMC Alpha, traders can enjoy spread discounts ranging from 5% to 40%, allowing for significant savings on trade costs. Additionally, the program offers the opportunity to earn up to 3% interest on the available equity in the account. This feature rewards traders for their maintained balance and helps maximise their trading potential. Members are granted immediate access to CMC Price+ tier 3, which has advantages, including enhanced pricing.

One of the CMC Alpha program's standout features is the premium subscription to the Financial Times, providing traders with valuable insights and the latest financial news. This benefit complements the traders' strategies by informing them of global market trends and economic events. Furthermore, CMC Alpha members receive priority customer service, ensuring that their queries and needs are addressed promptly and efficiently.

To join this elite group, traders must apply for a standard spread betting or CFD account with CMC Markets. Upon funding the account with a minimum of £25,000, they automatically qualify for the "CMC Alpha" program. This membership automatically places them in tier 3 of the CMC Price+ membership at the start of each month, offering up to 20% off spreads. The more a member trades, the more trading points they earn, enabling them to ascend the spread discount tiers for even more significant benefits.

Commissions

Rating:4.7/5

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

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

Inactivity Fee

It's important to note that CMC Markets charges an inactivity fee. This monthly charge of $10 (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.

CMC Price Plus

CMC Price Plus is CMC Markets' tiered-volume discount scheme, rewarding traders with reduced spreads from 2% to 40%. Traders earn points for every trade on the spread betting and CFD trading platforms. These points accumulate monthly, determining the discount tier. The scheme features a carryover of discounts to the next month, encouraging sustained trading activity.

CMC Markets is FCA-regulated, FTSE-listed, and provides a secure trading environment. It has been recognized for its platform technology and spread betting services.

CMC Price Plus Tiers

TierTrading Points RequiredSpread Discount
10Up to 0%
2100Up to 9.1%
32,500Up to 20%
45,000Up to 27.3%
525,000Up to 40%

Deposit and Withdrawal

Rating:4/5

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
Bank TransferBank Transfer
USDEURGBP
from 100 GBP
VisaVisa
USDEURGBP
from 10 to 50000 GBP
MastercardMastercard
USDEURGBP
from 10 to 50000 GBP
MaestroMaestro
USDEURGBP
from 10 to 50000 GBP
Онлайн банкингиОнлайн банкинги
USDEURGBP
from 10 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
Bank TransferBank Transfer
USDEURGBP
0%
VisaVisa
USDEURGBP
0%
from 10 to 40000 GBPfrom 10 to 40000 USDfrom 10 to 40000 EUR
MastercardMastercard
USDEURGBP
0%
from 10 to 40000 GBPfrom 10 to 40000 USDfrom 10 to 40000 EUR
MaestroMaestro
USDEURGBP
0%
from 10 to 40000 GBPfrom 10 to 40000 USDfrom 10 to 40000 EUR

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.

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
  • 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

Trading Platforms

Rating:4.5/5

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.

MetaTrader 4 CMC Markets
MetaTrader 4 CMC Markets

CMC Markets

The CMC Markets 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 – 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 neighboring tab, and analytical tools are available.

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.

On the broker's website, thematic sections and class schedules are published. 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 the 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 client funds' security.
  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 looking for a trustworthy and reputable broker with extensive experience.

Visit CMC Markets UK67% of retail investors lose money when trading CFDs with this broker
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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