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 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%)