The proprietary Next Generation trading platform for web, tablet, and mobile will please technically oriented clients wanting to upgrade from MetaTrader 4, which is also offered. However, navigation is not as intuitive as some other platforms, which may be a function of all the features that are packed into this interface. Cryptocurrency CFD trading and spread betting is seamless, requiring no special interface or exchange, but relatively high average spreads could reduce client interest. Based on our broker matrix CMC Markets offers the most currency pairs of all the forex brokers we compare. This is made up of both cash markets, but also CFDs and spread bets based on future prices (not DMA futures, but OTC derivatives based on the cost of carry). The Fx platform lets you rank all 388 fx pairs based on change and market so you can see what is most volatile and what are the cheapest and most expensive crosses to trade.
Trade with a Regulated Broker
- In jurisdictions where CMC Markets offers real shares, a commission is charged.
- The market research and news section at CMC Markets is comprehensive and competes well with similar brands.
- Forex spreads are always tight, order execution is always reliable and I can always get through to customer support when I need them.
- CMC does not provide a trading journal nor do they provide tax accounting tools on the platform.
The broker caters to all experience levels, with comprehensive, tailored research and education, plus attractive perks for high-volume traders. The broker’s advanced research support tools https://forexarena.net/ can prove to be invaluable for its clients. It has tied up with Morningstar to provide its users with the latest news and reports covering a wide range of financial instruments.
Great platform for small accounts
The platform offers access to technical analysis, fundamental analysis, and market insights. Additionally, the broker has a loyalty incentive available to everyone, CMC Price+. The program is a tiered-based discount scheme, in which you earn points each time you trade. The rewards are reduced spreads up to 40%, making it an attractive program for serious day traders. CMC Markets offers flexible funding and withdrawal options, with a variety of fee-free funding methods and no minimum deposit requirement, making it easy and accessible for traders.
Can you trade forex on CMC Markets?
CMC Markets offers nearly 12,000 CFDs, a large number of forex pairs, and access to international equity markets (such as Australia). CMC Markets also quotes its 158 currency pairs both ways (not just EUR/USD – but also the inverse USD/EUR quote). This unique feature doubles the number of CMC Markets’ available pairs – bringing the total up to 316 and helping CMC win our 2024 Annual Awards for #1 Most Currency Pairs.
While the industry norm is around $200, CMC Markets requires no minimum deposit to open a CFD Trading account. However, it’s important to note that trading on MT4 with CMC Markets does not offer access to their complete range of products. The best feature of the platform is the charting package (chart forum) with 115+ technical indicators, 70 chart patterns, and 12 built-in chart types.
Some of the features and services will vary depending on which jurisdiction you open an account in. The custom platform is powerful and customizable, but probably a little intimidating for new cmc markets review traders. Experienced traders also have the option to trade using MetaTrader 4, which is an excellent option for algo traders and those familiar with the most popular forex trading software.
We have tested hundreds of forex brokers and CMC Markets offers competitive fees, especially for forex. For users who wish to engage a guaranteed stop-loss on a trade, there is also a fee assessed by CMC. A monthly inactivity fee of $15 is charged after a trading account has been left dormant without any transaction volume for 12 months. However, once trading recommences, clients will be reimbursed for up to 3 months of these fees.
Plus, one trading strategy that is relatively simple is trend following, especially now, with the Reddit generation getting so worked up. If you see a sector getting some good press you can jump on the bandwagon without having to sniff out the individual stocks. A better spread and a platform like tradingview or linked to tradingview or linked to it and that would be perfect but so far amazing customer service and no fees which helps. CMC Markets does NOT charge deposit fees for UK traders, but your bank might do. Warrants offer a leveraged way to trade shares, indices, commodities, currencies, and other exchange-listed products via the ASX.
Paying £3.30 spread would virtually kill any profits on a trade trading out of hours. It’s the same with the Germamy40, paying £7.50 spread out of hours isn’t doable for interday trading. So come on CMC please sort this out, especially for so-called Alpha members such as myself who have a lot invested. Although there is no minimum deposit enforced by the broker, clients must deposit funds into their accounts to begin trading.
To ensure we offer traders accurate and current information, our forex broker reviews also undergo rigorous editing and fact-checking. Furthermore, high-volume forex traders can further reduce the spreads offered through the Price+ scheme with discounts up to 28.6%. CMC Markets is a great option for beginners with a huge range of educational resources, from introductions to financial markets to complex technical analysis guides. Robust regulation and 14 international offices also make CMC Markets one of the most globally accessible forex brokers on the market. The interface is easy to navigate with customizable widgets and a powerful suite of technical analysis tools. There are 115+ technical indicators, 12 chart types, and pricing from 14 tier-one liquidity providers.
However, similar to most broker’s own platforms, it doesn’t support the ability to run automated trading strategies. MT4 is the better option if you want to use automated trading strategies thanks to its support for Expert Advisors (EAs). By comparison, IC Markets offers some of the lowest spreads out of all brokers with a EUR/USD spread averaging 0.1 in its Raw account, and 1.4 for the US 30. CMC Markets also offers a premium scheme for traders with a large bankroll, Alpha. To be eligible, you must deposit at least $25,000, which will price out some investors. With a commendable track record, stock exchange listing, and authorization by top-tier regulators, CMC Markets demonstrates strong safety indicators for traders.
We consider CMC Markets a trustworthy forex broker with competitive trading conditions, multiple safety measures and robust regulatory oversight. Similar to most heavily regulated brokers, CMC Markets does not offer a welcome bonus. The demo account has no expiry, which is important for me as it means I can test strategies in practice mode alongside a real-money account. A pattern recognition tool is also offered, scanning over 120 of the broker’s most popular assets to find rising patterns.
We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points. The broker also excels in customer service, offering 24/5 support in multiple languages, and a comprehensive suite of educational resources, including webinars and market analysis, to support traders at all levels. With flexible funding and withdrawal options, including fee-free methods and no minimum deposit requirement, CMC Markets is a strong choice for traders seeking a comprehensive and cost-effective trading experience. The broker also offers a decent demo account with $10,000 of virtual funds to practise in either of the trading platforms. In addition, the $0 minimum deposit makes it accessible for traders on a budget.
Webinars cater to both beginners and experienced traders and cover topics ranging from the outlook for the global markets to making the most of the Next Generation trading platform. They take place weekly and are archived on the CMC Markets YouTube channel. To conclude, the MetaTrader 4 desktop platform is one of the most feature-rich and popular trading platforms in the world. It does not have the best design and it does require some time and effort to learn, but that is typical of advanced platforms.
