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CMC Markets Key Features
|CMC Markets are clearly one of the better spread betting brokers. Like IG, they have been around for ages and stand out primarily because of their investment in trading systems. The company started off as Deal4Free back in the old days and won a lot of business from competitors because of tights spreads on the most liquid markets.|
|CMC Markets Reviews||CMC Markets Client Reviews
CMC Markets Expert Review
|CMC CEO Interview||Peter Cruddas CEO & Founder|
|Platforms||CMC Markets trading platform MT4, Iress Viewpoint, SmartTrade WebTrader & APIs|
|CMC Markets Updates||Latest CMC News, Views, Reviews & Guides|
|Min Deposit||No minimum|
|Account Types||Spread Betting, CFDs, Forex, Prime Brokerage|
|Spread Types||Fixed and variable|
|Funding Methods||Credit or debit card, bank transfer, PayPal (coming soon)|
|Customer Support||Phone, email and messenger|
|Execution Type||Internally matched, DMA, STP|
|UK 100 Pricing||1 point|
|Germany 30 Pricing||1 point|
|Wall Street Pricing||1.4 points|
|Bitcoin Pricing||60 points|
|Ether Pricing||6 points|
|EURGBP Pricing||1.1 points|
|EURUSD Pricing||0.7 points|
|GBPUSD Pricing||0.9 points|
|Gold Pricing||0.3 points|
|Oil Pricing||3 points|
|FCA Regulated||Yes - See status|
|Professional Accounts||Yes - CMC Pro|
|Listed PLC||Yes (LSE) See CMC Markets share price|
|Inactivity Fee||£10 per month after 24 months|
|Overnight Financing Rates||2.5% +/- Libor|
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CMC Markets Expert Review
Main plus points for CMC Markets
CMC is a public listed company.
This means if you have a lot of money with them you can keep an eye on the share price with a view to reducing your counter-party risk. Some funds are protected under the FSCS but this stops at around £50,000. If you have more than that you should be dealing with a well capitalised broker such as CMC Markets or IG.
You can check out their share price on Google Finance here (opens new window) - look for the Mkt Cap section for the company valuation.
CMC invests heavily in it's own technology
There has been a recent trend by CFD and forex brokers to try and win business with the use of incentives such as cash bonus top ups and products. However the FCA is putting an end to all that, but the point is CMC Markets have never really got involved in spivvy cash bonuses or offers. They rely on tight pricing, a stable and innovative trading platform that constantly evolves and good customer service to get and more importantly retain clients.
Market coverage is pretty good.
Of course all brokers offer the most lucrative assets like FX, commodities and index trading as standard. But what makes a spread betting broker or CFD platforms stand out is what else you can trade. Quite frankly it's a bit of a pain if you are hedging your index exposure or jobbing about in FX, but then have to switch brokers if you want to start hedging or trading shares.
CMC's market coverage is pretty good - they offer all the major main market stocks in the UK, US and Europe. However, they have very little small cap or AIM coverage. As with all brokers through, if there is something specific you want to trade pick up the phone and ask if you can deal - they will probably say yes if the volume and liquidity is there.
High volume rebates
If you are a big trader your can get better spreads in the form of high volume rebates. The premis is pretty standard and automated. So if you cross the preset threshold you should get an automatic credit back to your account.
- FX, you need to trade at least £50m in volume
- Indices, £80m
- Commodities, £10m
- No rebates available on equities
Mobile trading as standard obviously
As with their trading platform, CMC has a pretty decent APP and mobile site. It obviosuly doesn't have the full set of features that the desktop version does, but then who wants to look at that type of stuff on their mobile right?
Mobile trading apps are for checking, closing and opening positions really - a few bells and whistles help, but don't really matter. The desktop platform is one of the best out there.