CMC Markets Cryptocurrency Trading Review: Good crypto indices on a solid platform
Account: CMC Markets Cryptocurrency Trading
Description: CMC markets, offers three proprietary crypto indices including, an All Crypto Index, a Major Crypto Index including bitcoin, ethereal, ripple, bitcoin cash, litecoin and an Emerging Crypto Index with cardamon, dash, EOS, monero, NEO, stellar lumens, tron.
Can you trade cryptocurrency on CMC Markets?
Yes, you can trade cryptocurrencies and crypto indices on CMC Markets, but only if you have a professional trading account with margin rates of around 50%.
According to CMC’s description of the index, Bitcoin will constitute around 12% of the All Crypto Index and 40% of the Major Crypto Index at rebalancing dates. The calculation of these indices appears to be done internally and the calculation methods can be accessed publicly via this document.
The main disadvantage, of course, is that crypto even with 50% margin is extremely volatile and sometimes illiquid. So expect P&L swings to be huge and hard to trade out of in some circumstances.
So depending on your risk appetite, there are now an array of interesting crypto-based indices to be traded on. Again, stop losses are recommended in all positions.
Pros
- LSE listed company
- Cryptocurrency indices
- Tax free spread betting
Cons
- Limited crypto range
- Professional trading accounts only
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Pricing
(4.5)
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Market Access
(4)
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App & Platform
(5)
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Customer Service
(5)
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Research & Analysis
(4.5)
Overall
4.6
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
