CFD Broker Test 2018
In 1989, the company was founded by Peter Cruddas in London. Due to its head office in London, CMC (Currency Management Consulting) Market is regulated by the Exchange Supervisory Authority FCA in England.
The progressive broker, which provided the world’s first foreign exchange trading platform on the internet in 1996, has been trading CFDs since 2000 and now operates and maintains offices in the United Kingdom, France, Germany, Italy, Canada. China, Japan, Singapore…
Some facts at a glance:
Fully automated order execution
Competitive and reliable price formation
No minimum deposit
Winner of numerous awards
Regulation by the British FCA
Trade possible via app
Dedicated multi-language customer service
Broker name: CMC Markets
Broker Type: Market Maker
Established in 1989
Headquarter in London (GB)
Regulated by the Financial Conduct Authority (FCA)
Account Currencies EUR, USD, GBP
Account from $0
Payment methods: Bank transfer, credit cards
Max. Leverage: 1:500
Margin from 0.2%
Spread on FX majors from 0.1 pips
Spread for indices from 1 pip
Spread for commodities from 0.4 (gold)
Trading fees equities from $5.00
Mobile Trading: Yes
Demo account Yes, for free
Support: Phone, mail, live chat
CMC Markets is a classic broker offering Forex and CFD trading. In contrast to other brokers, CMC Markets offers only its own trading platform called “Next Generation,” which is however easily adjustable and is also available for mobile trading. In CFD trading, the trader can choose from around 5,000+ different products, including government bonds, listed companies, currencies, and commodities. For trading, the trader has to pay a fee of between 0.08 and 0.18 percent.
Broker CMC Markets offers its clients CFD trading on more than 320 currency pairs. CMC Markets feels obliged to be transparent and therefore updates its spreads weekly on their website.
For major currency pairs, the margin in currency trading is 0.2 percent, which corresponds to a leverage of 1:500.
Support: Faster support on the phone
A good support increases the trust that a client, especially newcomers to trading, has in a broker. CMC Markets has a lot to offer in this area. In addition to the website, the broker also offers its customers a multilingual speaking customer service, which can be reached via telephone, e-mail, and live chat. The telephone hotline is free in some areas. Trading related questions are not answered by support as they do not provide advice in this regard, but free trading advice is available by phone, email, or live chat from support staff of course and the questions are answered quickly and easily. In addition to personal support, the CMC Markets broker also provides FAQ pages on its website, which can help to clarify some questions.
Payment methods – deposit by card, payout to account
Naturally, it is necessary to make a deposit before the start of trading. Unlike other brokers, CMC Markets does not impose a minimum deposit requirement on its clients, but clients should ensure that they have paid enough to trade CFDs. CMC Markets offers its customers the following deposit options:
Further deposit options are currently not offered.
If payment is made, as with many other brokers also, via bank account, then the customer must specify in advance. When it comes to withdrawals, CMC Markets does not transfer the money to credit cards or to any other account than the method used to deposit the money. Any cash withdrawal that a customer requests must be requested individually using the personal account. CMC Markets waives a minimum amount.
Security: Transparency in data protection
CMC Markets provides full transparency to its customers, giving traders all the information they need at any time. As soon as you open the website, a pop-up window appears, indicating the risks involved in trading.
Although CFD trading involves a high level of risk, sometimes high profits can be achieved. For this purpose, however, traders must keep an eye on the courses and be able to use a real-time financial chart. The clearly structured website offers visitors a clear and unambiguous overview. This creates confidence and clear evidence of security and privacy testifies to the broker’s desire to openly oppose his customers without getting caught up in codifications.
Bonus: Only occasional promotions
There is certainly a need for improvement at CMC Markets in the bonus area. Neither new customer bonuses nor bonuses for existing customers are offered. Only occasional promotions are initiated by the broker and made available to customers.
Trading platform: Next Generation
Since 2011, the software “Next Generation” developed by CMC in cooperation with Adobe is available. The Next Generation platform offers customers the possibility of trading with various trading instruments. All orders are completely automated. Trading is possible directly from the charts. The platform also offers risk management with specific orders (Take Profit, Trailing Stop Loss, Stop Loss, Stop Buy.)
Another advantage is that the customer has the opportunity to choose between different layouts and options and thus to create his own platform, which offers the person a variety of adjustments. Among other things, ten different chart types are available and chart intervals between one second and one month are selectable. The free recognition of chart patterns (such as wedges and shoulders, wedges, trend channels) and current news, economic calendars, technical analysis reports are also part of the offer.
Mobile Trading: Full access to trading account on the way
Access to the trading platform “Next Generation” is also possible with mobile devices. Appropriate apps for the common systems (IOS and Android) are provided. The apps offer extensive functionality to CMC Markets customers. This means that access to courses is always possible in real time, giving customers the opportunity to intervene immediately in the market. More than 20 technical indicators and ten drawing tools for price analysis will be provided. In addition, up to four charts can be displayed simultaneously. The trading apps provide full access to the trading markets, so that the customer can track or adapt his strategies and tactics while on the move.
CMC Markets offers its clients CFDs on indices, commodities, currencies, government bonds, and equities in the form of cash and forward contracts. The offer includes more than 5,000 assets as CFDs and over 300 currency pairs. Among other things, the trading offer includes trading in FX Outright Forwards and FX Spots. The currency pairs can be traded on CMC Markets starting from a margin of 0.20 percent, and the spreads start at 0.1 pips in Forex trading. The tradable underlyings of CMC Markets are index CFDs, foreign exchange CFDs, commodity CFDs, equity CFDs, and annuity CFDs. Furthermore, the broker offers its customers different order types (market, limit, stop entry, take profit, stop loss, trailing stop.)
A special feature of CMC Markets is the option to trade unrealized gains. Also, trade without leverage or a freely selectable leverage from 1 to 500 is possible. CFDs can already be traded in the amount of one-thousandth.
Free demo account with a high starting balance
The demo account has a starting balance of $10,000, which can be recharged if necessary. The customer is given the opportunity to test his strategies and tactics without risk. The differences to the live account are not so high – except for the customer sentiment, some patterns of the chart pattern recognition and the trading of stock CFDs are almost all functionalities available. The demo account is also available indefinitely and free of charge.
In addition to the demo account, broker CMC Markets also provides its customers with extensive training opportunities via its website. So customers have the opportunity to choose between numerous training materials, training videos, and webinars. Occasionally, they offer seminars.
Regulation: Separate account management of customer funds
The head office of CMC Markets in London ensures that the broker is regulated by the Financial Services Authority (FCA.) Thus, any fears of customers or dealers are not justified, because the British regulatory authorities are among the strictest in the world. The customer funds are held by Deutsche Bank, which, in addition to the deposit insurance, is also linked to the Financial Services Compensation Scheme. This protects client funds up to GBP 50,000 and keeps them separate from company funds.
More than 5,000 tradable CFD products
No minimum deposit required
Broker has received numerous awards
FCA-regulated financial services provider
Trading also possible on the way
Few deposit methods
Very few bonus promotions
Payment methods are few
No referral program