CMC Market Australia Expert Review
Provider: CMC Market Australia
Verdict: CMC Markets Australia is a subsidiary of the UK-based brokerage house CMC Markets plc. and is regulated by the Australian Securities and Investments Commission (ASIC). The company provides Contract for Difference (CFD) trading and stock broking services, with access to all asset classes including Forex, Indices, Commodities, Shares, ETFs, and Cryptocurrencies.
Is CMC Markets Australia Any Good?
I worked in CMC Markets for 9 years from 2015 to 2024, beginning as a sales and education executive before being promoted to a market analyst for the APAC region. This experience has given me in-depth knowledge of the company’s services and its productions, as well as a strong understanding of financial markets.
Pricing: The trading cost in CMC Markets Australia is generally lower than those of most competitors, particularly for CFD instruments with tighter spreads. As for its stock broking services, the company often offers zero commission on US shares.
Market Access: There are two types of accounts: a CFD trading account and a stock broking (CMC Invest) account. The CFD trading account provides access to 12,000 + instruments, including FX, Indices, Commodities, Cryptocurrencies, and Share CFDs. The Invest account is a physical share trading platform offering 45,000 + stocks and ETFs from the ASX and 15 international markets.
Apps & Platform: I have done a series of platform guide videos and client training sessions when I was working there. In my view, its trading platform is more suited to professional traders due to its complex functionalities. I really like the ability to create a personalized watchlist, making it easy to watch your preferred instruments. The platform also offers flexibility in designing a layout suits your needs, supporting up to 10 chart windows open simultaneously. I was also able to design a layout that enabled me to monitor the market trends across different asset classes and develop my trading investing strategy.
Also, order tickets are easy to access by simply clicking “Buy” or “Sell,” with fast execution. However, a beginner may find it too complex to use without a guide. The MT4 trading platform is available for those who prefer a simplified trading app.
Customer Service: The customer service line is 24/5 due to global operating offices in different regions. It also has a live chat function on the website for queries. However, you might find it hard to reach a person during light market session times.
Research & Value: The company offers education, market analysis, and platform training, though less frequently than in the past. There is a “Knowledge hub” on the website, providing Week Ahead market commentaries, alongside technical analysis. The platform also includes a built-in economic calendar and live Reuters news for daily market updates.
Pros
- Access to a wide range of trading and investment instruments
- Fast execution
- A well-established and regulated brokerage
Cons
- Spread slippage can be significant during periods of high volatility
- The platform might be too complex for beginners
- Limited education and market analysis content
- Pricing (4.5)
- Market Access (4.5)
- App & Platform (5)
- Customer Service (4.5)
- Research & Analysis (4)
Overall
4.5
Tina was a Market Analyst at CMC Markets from 2015 to 2024, providing client education, market commentary, and media presentations. She specializes in technical analysis and market fundamentals. Tina believes financial markets comprise a vast area reflecting economies, politics, history, psychology, and philosophy. As a result, her analysis is based on her interpretation of a specific country’s economic and historical background, alongside investor sentiment and behaviour.
Tina’s expertise has garnered recognition, with her commentary frequently quoted by reputable sources like Bloomberg, CNBC, Routers, WSJ, and AFR. Her insights span a diverse spectrum, covering various financial domains, including stock markets, foreign exchange, commodities, and cryptocurrencies. Previously, she also spent significant time with China Central Television. This experience allowed her to develop a deep understanding and insight into China’s economics and business.
