CMC Invest Australia Expert Review
Name: CMC Invest
Description: CMC Invest lets Austrians invest in 45,000 ASX and foreign stocks in 15 international markets with $0 brokerage on 10,000+ US stocks and ETFs. and $0 brokerage commission on your first Assie stocks buy order under $1,000 everyday.
Is CMC Invest a good Australian investing platform?
Yes, we rate CMC Invest as a very good investing platform for Australians due to their market range, established partent company, regualtory status, low fees and investment options.
Pricing:
CMC has always been cheap and you can invest for free on US stocks (other than the FX conversion fee) and also if you are a small investor you get zero brokerage commission on your first $1,000 trade each day.
Compared to other Australian investing platforms like CommSe, NabTrade, Stake and WestPac, this makes them cheaper initially, for ASX shares, but if you deal more or in larger size, the brokerage of $11 (or $9.90) is more expensive. However, if you are investing in US stocks with CMC Invest as most people do, it works out much cheaper.
Market Access:
Great market access for CMC Invest clients compared to other brokers, you get access to 15 international exchanges as well as the ASX. Active traders can also deal in US stocks outside or normal market hours, which can help hedge or manage your exposure when the main market is closed, or negate the need to stay up late to deal during US market hours.
App & Platform:
I’ve always found the CMC apps and platforms good for active trading, but the app versions are simple enough for investors that have a longer-term objectives.
Customer Service
Research & Analysis
Very good, 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.
Pros
- Zero brokerage commission offer
- International market access
- Great app and research
Cons
- Higher dealing brokerage
- 0.6% FX fees for international dealing
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Pricing
(4.5)
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Market Access
(5)
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App & Platform
(5)
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Customer Service
(4.5)
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Research & Analysis
(4)
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
