CMC Markets, one of the largest CFD brokers in the UK and the most recent to float on the London Stock exchange show it’s share price drop a little (it’s generally quite volatile) down to 272 (14:00 17th June) after corporate broker Numis initiated converge with a hold rating and price target of 280p.
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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