CMC Invest has partnered with stock market research aggregator TipRanks in Australia.
Under the tie-up, TipRanks now provides CMC’s roughly one million clients across Australia access to insights, datasets, and analysis.
TipRanks tracks more than 100,000 financial experts around the world, including Wall Street analysts, financial bloggers, hedge funds, and corporate insiders.
Among the services integrated into CMC is TipRanks’ analyst consensus, which gives a snapshot of ratings and 12-month price forecasts for both single stocks and exchange traded funds (ETFs).
TipRanks also offers short AI-generated summaries of analyst reports, as well as financial news and scores of stocks based on multiple data points.
CMC Invest Australia head of distribution Kurt Mayell said: “CMC has a long commitment to providing investors with access to institutional-quality investment tools and resources.
“This powerful partnership gives our investors the opportunity to use this best-in-class interactive platform to make data-driven investment decisions, which will help them make more informed investment decisions.”
CMC Markets started life providing forex trading services in 1989 in the UK, where it is still headquartered. In Australia the group also offers stockbroking, which is a much bigger part of its business.
The Good Money Guide’s review of CMC Markets finds it “has always offered, and still does one of the best trading platforms for high-frequency and active traders”. Highlights include its “exceptional” emphasis on technology.
Last month the group’s UK long-term investing app CMC Invest launched a cash Individual Savings Account (ISA) offering a competitive interest rate of 4.85% AER.
The new CMC Invest cash ISA is available to be opened through the UK investment app with as little as £1 in funds, with the variable interest rate calculated daily and paid monthly.
It added to CMC Invest’s growing offering of Self-Investment Personal Pensions (SIPPs), Flexible Stocks& Shares ISAs and General Investment accounts.
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
