Our Take

CMC Markets is a well-established forex broker that offers a wide array of products and features suitable for beginners, experts,🍒 and even institutional investors. The company’s clients, whether they are trading forex, CFDs, stocks, ETFs, or indices, get to take advantage of multiple feature-rich platforms and a broad variety of educational content. The 24-hours-a-day, five-days-a-week customer service is another win for users. 

Pros & Cons

Pros Explained 

• Demo account available: Users only need their name, email address, and password to set up a free CFD practice account and receive 10,000 virtual GBP.
• Vast array of products: Traders can access over 12,000 instruments including forex pairs, indices, commodities, fixed income, shares, and ETFs. 
• Superb Next Generation trading platform: The institutional-grade Next Gen web platform delivers best-in-class insights and analysis with 12,000 instruments, over 115 indicators, and 70 chart patterns. 

Cons Explained 

• Not available in the U.S.: CMC Markets does not accept U.S. clients due to regulatory constraints, which precludes it from truly being considered a global broker. 
• No cryptocurrency trading, except for professionals: Speculative investors who trade CFDs might miss the opportunity to trade crypto on the CMC Markets trading platforms. 
• Wide variability between offerings of Next Generation and MetaTrader 4 platforms: Next Generation trumps the features and number of assets found on MT4, the only downloadable platform available.

Introduction

Founded in 1989, publicly traded CMC Markets (under ticker LSE: CMCX♍) is a well-regarded U.K. forex broker. Like many other forex brokers, CMC doesn’t accept U.S. users, but enjoys a strong global presence otherwise. The CMC Markets Next Generation trading platform and MetaTrader 4 downloadable platform capably serve a wide range of clients, from beginners to institutional𒐪 investors. CMC also offers mobile apps designed for on-the-go iOS and Android users.

The 12,000 available instrument🏅s span CFDs, forex pairs, indices, commodities, shares, and ETFs. The deep “Learn” portal educates users on platform features and actionable trading strategies. With transparent pricing, reasonable spreads, direct trad♏ing from the chart, and a practice demo account, there’s a lot to like for forex and active traders.

Usability

CMC provides a seamless user experience across its mobꦿile app, web-based CMC NextGeneration Platform, or the MetaTrader 4 platform. Usability across all platforms, including mobile, is consistent with access to a range of forex pairs, indices, commodities, shares, ETFs, and more. 

Despite the advanced functionality of the CMC platform and scores of tradable assets and features, the website is remarkably easy to navigate. Information is accessible and easy to locate, whether you seek out educational materials, require customer service, or just want to get straight to placing trades via one of the trading platforms. New users also have an option to practice with a free demo account. 

Trade Experience

CMC provides three proprietary trading platforms: the CMC Next Generation platform, the MetaTrader 4 platform, and CMC Markets mobile apps available both on Android and iOS operating systems. While both desktop trading platforms are robust, the CMC Next Generation platform offers several superior features when compared to MetaTrader 4.

𒐪CMC Next Generation vs. MetaTrad🅘er 4 Platform Comparison

API access is available for algorithmic traders. 

This CMC Markets trading platform review yields positive marks, despite some deficiencies. For socially minded traders, no copy or social trading is available. Although client sentiment is accessible, users can view current sentiment for “all” or “top clients” only. 

Desktop Trade Experience

CMC Next Generation is a web-based trading platform, rightly regarded as one of the best in class. It offers a broad range of tools and features suitable for both beginners and expert traders. Tradable instruments span over 12,000 forex pairs, i𓆏ndices, commodities, shares, ETFs, and fixed income. CMC cuts no corners on user experience—despite the abundance of features, Next Generation remains one of the most intuitive platforms on the market to navigate. It also offers demo accounts, providing a risk-free environment for traders looking to practice strategies and build confidence. There’s also access to cryptocurrencies, although it is limited to professional traders only. 

The 澳洲幸运5开奖号码历史查询:technical analysis features are suffi⭕cient for any type of t🌼rader and include:

• Expansive technical indicators and drawing tools
• Price projection tool
• Module linking 
• Chart forum

Tradersౠ also get access to features like client sentiment, pattern reco൩gnition, and the ability to choose the platform’s layout. News, insights, and education round out the desktop features. 

Mobile Trade Experience

CMC offers iPhone, Android, and tablet trading. The company claims that the trading experience is consistent across all devices, although the number of charts and technical indicators is greater on the web version than on the mobile platforꩲm. 

The mobile trade experience includes:

• Mobile-optimized charts including 40 technical indicators and 15 drawing tools
• Ability to place, edit, and close trades from charts
• Customizable dashboards
• Sentiment trackers and watchlists
• 12,000 tradable instruments
• Push alerts for price, orders, and market events
• 澳洲幸运5开奖号码历史查询:Spread bet and CFD trading on instruments including U.K. 1000, EUR/USD, gold, commodities, indices, ETFs, and more

This CMC Markets app review yields a robust product on par with the web and desktop trading p💎latforms. 

Regulation and Security

CMC is well-regulated and secure. The company offers top-level encryption, two-factor authentication, and the highest privacy standards. Data is encrypted during transmission, and CMC applies strong authentication procedures and cybersecurity protocols. Employees with access are trained to respect customer data and privacy. 

The company holds highly regarded regulatory licenses relevant for the U.K., Australia, Singapore, New Zealand, and Germany. CMC has received our highest ranking for regulation. CMC Markets is regulated by the FCA which, along with U.S. regulatory agencies (NFA and CFTC), is widely considered to be the preeminent regulatory body.

Range of Offerings

CMC provides a gateway to thousands of markets and products. Investors can trade competitively priced CFDs on forex, indices, shares, ETFs, commodities, and fixed income.

Traders will not be disappointed with the range of 12,000 offerings, which includes:

• 330 forex pairs
• 80+ indices
• 11,000 shares and ETFs
• 100+ commodities
• 50+ fixed income instruments

Each of CMC’s trading platforms offers a distinct number of instruments. Next Generation is an all-encompassing powerhouse with access to stocks, ETFs, forex, indices, commodities, and fixed income. Those who only seek to trade forex, indices, and coꦬmmodities will be satisfied with MetaTrader 4.

Users in the U.K. and Ireland can also access 澳洲幸运5开奖号码历史查询:spread betting.

Only professional CMC clients can tra♒de co꧅untdowns and cryptocurrencies. 

Order Types

Order types also vary, depending on the platform used. It’s worth noting that all platforms allow trading from charts.

CMC Next Generation and MetaTrader 4 ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚusers can aꦦccess the following order types:

• Market
• Limit and stop-entry
• 澳洲幸运5开奖号码历史查询:Stop-loss and 澳洲幸运5开奖号码历史查询:take-profit
• 澳洲幸运5开奖号码历史查询:Trailing stop-loss

More sophisticated traders may prefer the Next Generation plat✤form. The following features are only available to Next Generation users:

• Guaranteed stop-loss
• Boundary
• Access market depth via price ladder

Next Generation traders can also go long and short simultaneously with ac💖count netting disabled (via account settings). Users can also set default order preferences for all or specific investment types.

Execution alerts will inform u♎sers when 🍒price levels are reached or when pending orders are filled. 

Trading Technology

The Next Generation platform promises fast, 100%-automated executions with multiple order types. The company releases an annual execution summary which includes price, cost, speed, and likelihood of execution data. The 2023 execution quality was monitored by the TCF and Conduct Committee. These features are monitored daily and are compiled into monthly reports which include executions by order type, comparisons of execution price, data on spreads, slippage, and manual executions.

Costs

Costs vary by instrument and country and can ꧃be found on the FAQ pages and the trading costs page. The main costs overview includes spreads, stocks, ETFs, and CFDs, as we🥂ll as overnight holding costs and market data fees.

The spread, or difference between the buy and sell price, is the overriding fee charged on each instrument traded. Your cash positions may also be subject to overnight holding costs at the end of the trading day, which can be either positive or negative. 

Index trading fees range from a minimum spread of 1 for the UK 100 and the Australia 200 to a maximum of 5 for the US SPX 500. 

CFD spreads vary per instrument.

When trading CFDs on shares and ETFs, you’ll pay a commission. Commissions range from 0.02% for U.S. to 0.10% for European shares. Minimums range from 9 euros to $10.

When spread betting on shares and ETFs, there are additional spread charges for entering and exiting a trade. The additional spread bet fees range from 0.10% for European customers to one to four cents for the U.S.

M♎arket data feeds a🌺re required to view share prices for select products and monthly subscription fees may apply. 

Users of the company’s premium Alpha tier save 5% to 40% on spreads and can earn 3% interest on available account equity. Premium users also receive priority customer service. 

Costs Overview

Account and Research Amenities

CMC Markets shines in this category by providing extensive research and analysis from in-house analysts and third-party vendors, including Morningstar quantitative equity and fundamental research reports. Access to this feature alone might entice a serious trader to open a live account with CMC Markets. Many resources can be accessed directly through the website, and news sources can be additionally filtered by region and asset class. The site also featuꦯres a standard ecꦇonomic calendar. If there is one criticism of the platform, it is the lack of a dedicated search function or a well-organized archive, which makes it difficult to find certain stories.

CMC integrates with Autochartist, a provider of market-scanning tools and 澳洲幸运5开奖号码历史查询:trade signals, adding a new layer of analytical capabilities. Inbuilt tools like sentiment charts and pattern recognition are also designed to help clients analyze the markets and uncover potential trading opportunities. The “also being traded” section provides trading ideas and shows related instruments that other clients are currently trading, although the platform lacks full social and copy trading functionality. A 澳洲幸运5开奖号码历史查询:trading journal is also available. 

Forex Screener

Forex traders will not be disappointed with CMC’s screener, which covers 330-plus available currency pairs and even indices. Forex index trading includes 12 baskets of FX pairs. Whether you trade majors, minors, or indices, the lists and se🥃arch feature will help you get started.&nbs♊p;

The pattern recognition scanner automatically reviews over 120 of the most popular instruments every 15 minutes and scans for emerging and completed chart patterns including wedges, channels, and 澳洲幸运5开奖号码历史查询:head and shoulders formations. 

Tools and Calculators

The web-based Next Generation trading platform beats out MT4 in the tools and calculators race. The platform offers advanced instrument search tools and a list of favorite instruments. The advanced charting packဣage and built-in indicators and drawing tools are available on both platforms. Only MT4, however, allows users to create their own indicators. 

Sample tools include:

• Custom-stop triggering
• Built-in indicators and drawing tools
• Ability to create indicators and edit parameters of indicators 
• Multi-interval analysis
• Client sentiment trading tool
• Price projection box and backtesting tool

Charting

A deeౠp dive into the CMC Markets charting to🌸ols includes:

• Free charting package with more than 115 technical indicators and drawing tools
• Chart pattern screener 
• 澳洲幸运5开奖号码历史查询:Candlestick pattern screener
• Multiple chart presets with intervals as low as one second
• Trading from charts
• Automatic pattern recognition
• 10 chart types including comparison charts
• Chart forum for collaboration

The chart pattern screener brings technical analysis skills to the user by amplifying the price action of an asset, interpreting trend signals, and informing where to place stop-loss orders and set profit targets. The CMC Markets mobile app also provides advanced charting featu🌌res.

News

Keeping abreast of the news is crucial for active traders. Daily market news analysis on CMC guides traders to focus on the headlines that can impact their trading decisions. CMC also delves into news and economic analyses, including forward-leaning viewpoints. The live Reuters market news  and economic calendar is displayed within the Next Generation platform, with filtering features to help you hone in on relevant topics. 

The CMC Opto news aggregator pulls from a range of perspectives to deliver news stories about current and emerging themes that interest active investors. This vertical has a newsletter, quarterly magazine, website, podcast, and free e-books to elevate CMC users' news and information. 

Third-Party Research

CMC Markets provides users with comprehensive Morningstar equity and ETF research reports. The reports include both fundamental and technical details. CMC lacks access to ⛎TipRanks or Trading Central (Recognia), po꧑pular third-party research sites. 

Funding Methods

One advantage of CMC is that there is no minimum deposit required to open an account. To fund your account, you can use a credit or a debit card such as Visa or Mastercard, set up a wire transfer, or initiate a bank transfer. To fund your account, click on the "Funding" tab on the web-based platform or the mobile app.

Portfolio Analysis

The CMC platform lacks a built-in tool for analyꦜzing trading activity. While customers can utilize the platform’s trading journal, they are unable to drill deeper into trading activity. Several other platforms offer better portfolio analysis features than CMC d🔜oes. 

Education

The “Learn Hub” is CMC’s central educational portal. Traders of all levels will find content to elevate their skills. This education portal has a deep well of content including articles, guides, videos, podcasts, webinars, and news and analysis. 

The learning portal includes💖 guides, articles, and videos on the following topics::

• Options
• Spread betting
• CFDs
• Forex trading
• Platform guides

Th🥂e main drawback is the lack of☂ a search function. 

Customer Service

Customer service and support begins with links to FAQ and relevant educational pages. Users who require a more personal touch can dial in and talk to phone representatives 24 hours per day, Monday through Friday. For less urgent queries, email support is also available. 

CMC's Trustpilot reviews are stellar, with more than 2,000 reviews and an average score of 4.2 out of 5.

Transparency

CMC receives high marks for transparency. The risks of trading the CFD and forex markets are clearly outlined. Regulatory bodies, pricing, security, a🌼nd account segregation are also transparently explained. The website makes it relatively easy to access important information. The 24/5 cꦺustomer service is also available for additional clarity. Unfortunately, the sections lack a search feature. 

Available Account Types

Account setup includes choosing from a list of countries first.

Nextꦐ, users need to select an accounౠt type. Choices are:

• FX Active
• MT4 FX Active
• MT4 SB
• Spread Betting
• MetaTrader
• CFD

Individuals can choose joint or individual accounts. Institutional accounts are also available. 

The Bottom Line 

W🐓ith 35 years to hone the CMC Markets platform, the company has created a superb user experience across mobile, desktop, and web-based platforms. International traders will also have a difficult time finding a better platform for forex and CFD trading.

Although 澳洲幸运5开奖号码历史查询:Interactive Brokers (IBKR) is a strong competitor given its U.S. and international presence, CMC Ma♎rkets' ease of use and transparency are among the best on the market. The breadth of charting capabilities and the broad range of trading instrume♍nts will suit traders of all levels and even institutional investors.

Beginners can take additional advantage of CMC’s free demo accounts and the extensive “Learn” section. The lack of search functioꩵnality, absence of cryptocurrency trading for retail clients, and no access for U.S. investors are the only drawbacks we uncovered. 

Compare CMC Markets to Similar Forex Brokers

How We Chose the Best Brokers for Forex Trading

Our co😼mmitment to providing unbiased, comprehensive reviews of forex brokers is rooted in extensive research and expert analysis. We evaluated 18 forex brokers based on rigorous criteria, focusing on key aspects such as regulatory oversight, costs, trading experience, and available offerings. Our methodology ensures that our recommendations are based on relia🙈ble data and a thorough understanding of the industry.

To gather data, we sent a questionnaire to each of the 18 brokers, covering multiple areas critical to a forex trader's experience. Our researchers and editors verified the responses and supplemented the data with additional online research and direct communication with each broker. This research was conducted between May 13 and July 30, 2024, ensuring that our evaluations reflect current information.

Our proprietary scoring mod💯el evaluated each broker across 11 major categories and 73 weighted criteria, plus an additional 15 non-weig༺hted criteria. The overall ratings are a weighted average of the weighted criteria, ensuring a balanced and fair assessment.

Some brokers also demonstrated their platforms live via videoconferencing, and our experts conducted hands-on testing with live accounts to further validate the platforms' functionality and user experience. This comprehensive approach allows us to present an unbiased, detailed review of today's best forex brokers.

For more information, read our full 澳洲幸运5开奖号码历史查询:methodology explanation.