CMC Markets has launched round-the-clock cryptocurrency CFD trading in Australia and other eligible regions. The service went live for the first time over the weekend.
24/7Crypto CFD trading is available to CMC clients in Australia. This means that clients who trade through CMC Markets’ Australia-regulated entity will now have access to continuous crypto CFD trading in line with the trading hours of the underlying crypto markets.
Unlike Australia, the UK has effectively banned retail trading in cryptocurrency derivatives. Cryptocurrency CFDs proved to be very popular with UK and European retail traders before ESMA and the FCA banned the marketing of these products to anyone other than professional investors or institutions.
This prohibition was widely criticised by the industry at the time as being likely to drive clients offshore to trade with unregulated entities. Australia permits retail crypto derivatives trading, though the regulator, ASIC, limits the leverage available to just 2:1.
CMC Markets has also expanded its cryptocurrency selection, giving traders access to a broader range of digital assets through CFD instruments. Additionally, the company has optimized its margin rates and tightened the spreads it offers for cryptocurrency trading.
Does CMC Markets offer physical cryptocurrency trading?
Yes, but only through its Australian entity, which has provided physical crypto trading since 2023.
This is unique within CMC’s global structure, and it means that Australia is the only division in the business that offers physical cryptocurrencies alongside their derivative products.
Australia represents CMC Markets’ largest revenue source by geography. The firm bought out ANZ Bank from a stockbroking joint venture (that CMC had previously managed for the bank), back in September 2021.
In the financial year 2024, CMC’s Australian operations generated £109.4 million in revenue, outperforming the UK market’s £92.3 million contribution.
The company’s total revenue for the period was £332.7 million, with Australia accounting for approximately one-third of that figure.
Overall, the move demonstrates CMC Markets’ commitment to strengthening its position in the cryptocurrency trading space, particularly in regions which have favourable regulatory environments.
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