CMC Markets has launched a FX Active account which it hopes will put it at the forefront of an increasingly competitive forex trading space where customers can save between 5% to 28.6% on spreads.
What is CMC Markets FX Active?
CMC Markets’ new FX account is called FX Active or Forex Active Trader, and it’s designed to offer traders the opportunity to transact purely on price action in the market, it offers a fully transparent execution, with spreads as low as zero pips on six major FX pairs.
- Related guide: What is a pip in trading?
The FX Active account also provides discounts of 25% on the spreads paid on a much longer list of pairs and crosses – when compared to the spreads charged on a standard CMC trading account.
FX Active Trading Platforms
CMC has made the FX Active account available on its own in-house trading platform and MT4, which despite being a legacy platform, with no further licenses being issued, remains extremely popular among FX traders.
As we noted above traders will get the opportunity to trade at spreads as low as zero pips using the FX Active account, however, they will pay a fixed commission of $2.50 per lot or every $100,000 of notional FX traded. Such that a trade in 10 lots, or US$1,000,000 notional, of AUD USD, will incur a charge of $25.00 commission.
- Want to invest rather than trade? Read our CMC Invest review or learn more about CMC Invest Plus.
FX Active features
The CMC Markets FX Active account offers users access to more than 330 FX pairs and crosses, which according to CMC Markets is the widest available choice anywhere in the market.
There is a slight caveat here, in that to access the 330 plus pairs and crosses, you will need to trade via the CMC Markets in-house platform, as there are only 175 FX markets available via FX Active on MT4.
Those traders that would like to “try before they buy” can take advantage of the FX Active demo account.
Where they can trade with $10,000 of virtual currency and road test the account and its features, and familiarise themselves with the spreads and commission charging structure, as well as the extensive instrument list on offer.
FX Active demo accounts are available on the firm’s proprietary platform and MT4.
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