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Since CMC markets floated on the LSE in Feb last year the CMC shar eprice has risen around 15%. As reported earlier in the month pre-tax profits were up to £53.4m to March 31, up 23% from last year.
Revenues were up 18% to £169.4m with just under 58,000 (up 14%) active traders (a little less than competitor IG who claim to have around 138,000 active customers). CMC claims that the average client generates around £2,800 revenue per client from spreads, commission and financing costs.
CMC has always been one of the most innovative brokers and has recently launched a binary options offering to cater for clients that want to place quick fire limited risk bets on short term price movements.
However, for now CMC does not offer investment accounts like CMC rival IG which now offers stock and bond broking services through ISA and SIPP accounts.
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.