I love the way that even the FT trivialises what brokers do by calling them websites instead of massive financial institutions.
It’s a bit like calling Facebook a blog, or Amazon an online shop.
Anyway, CMC Markets is clearly benefitting from the regulators clampdown on spivvy little brokers nicking the big boys customers by tempting them away with welcome bonuses and excessive leverage.
The big punters are apparently heading back to where they belong with the IGs, CMCs and Saxo’s of the trading world.
CMC said:
The proportion of high value clients has increased, driving a significant improvement in revenue per client compared to the prior year. Overall, active client numbers are slightly below the previous year although the final quarter has seen an increase from the prior year.
You can read the full statement and find out how to register for more information when CMC Market release full year results on 7th June 2018.
The CMC share price had a healthy boost up 10% on the back of the news trading at 170. That’s up 25% on the year, nicely outperforming the FTSE 100 index (which is actually down 4%), but still not outperforming it’s main rival IG (up nearly 65%)
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
