CMC Markets Review 2022: Scam Or Legit?
Introduced in 1989 by Peter Cruddas with the name Currency Management Corporation. CMC Markets has been growing since its inception; it is a UK-based financial services company that offers traders services such as online trading of shares, CFDs, forex, etc.
The company is registered on the London Stock Exchange and is an integral part of the FTSE 250 Index. Headquartered in London, the company has expanded its services in hubs like Sydney and Singapore.
With its evolution with time, the company’s name changed from Currency Management Corporation to CMC and then later was abbreviated to CMC Markets in 2005. In addition, the firm has been regulated by the Financial Services Authority (FSA) since 1992, which was earlier known as AFBD.
Readers will have a lot to know about the CMC Markets through this article. Understanding a service provider before trading with them makes the experience worth investing in and boosts the trade.
CMC Markets Review: Pros and Cons
Investors who trade with CMC Markets have ample advantages with the company. CMC Markets works to bring the best out of their clients and have a successful trade in the financial markets.
Suitable for beginners and professionals
With so many advantages, CMC Markets has a few disadvantages as well. Here are the cons of CMC Markets:
Limited product portfolio
CMC Markets Review: Regulation and Scam
CMC Markets is a highly regulated financial company that operates under the regulations of the Financial Conduct Authority with registration number 173730. Moreover, its other branches are regulated by authorities such as the CMC Markets Germany is regulated by BaFin, having registration number 154814.
Hence, the firm abides by the laws of the regulatory bodies and ensures full security of trade and data. CMC Markets is a legitimate company and is not a scam. Traders can invest with the firm and trust the facilities offered.
CMC Markets Review: Trading Account Types
CMC Markets allows the traders to register with them through their online website. After getting registered, they can choose the type of account to go live. The CMC Markets has the following accounts to invest in:
The most popular account of CMC Markets is spread betting; traders go for this account type to have a tax-efficient investing. In spread betting, the investors speculate on the price movements of various financial instruments globally. A spread betting account gives traders the right to enjoy a lot of facilities.
They can bet on the rise and fall of prices in the market; in addition, there is no minimum deposit required to begin the trade. Below are the benefits of the spread betting account:
Cash rebates available except shares
Negative balance protection for retail traders
Support during market hours
Professional customer services
Contract for difference is a derivative agreement that could be traded with this account type. Investors trade on the price movements of the underlying financial instruments. With the CFDs, traders can benefit from the opening and closing price of the trade instruments.
These offer a number of benefits for the investors, such as they can start with a minimum of 3.3% of the full value of the market position to open a trade, have to pay no stamp duty on the profits earned from CFDs, and have tight spreads on the 11000 markets available. In addition, the investors can have the following advantages:
Can take a position on the rise and fall of the market
Zero minimum deposit required
Negative balance trading allowed
Hedging a physical position
Basically designed for the corporate traders who want to have CFD trading access for their business. The account has several advanced facilities to bring the best for corporate traders or businesses. Investor of such account have below listed facilities:
Insights from an expert analyst
Insights from Reuters and Morningstar
Guaranteed stop-loss orders
Allows market position on rising and fall of the market
Cash rebates except on shares
Negative balance protection
Hedging of physical position
CMC Markets Review: Account Opening
Account opening is not a difficult process; traders can easily visit the official website, www.cmcmarkets.com, and open their trading accounts. Below we have mentioned steps that are followed for opening an account with CMC Markets:
After visiting the website, the first step is to click the start trading option at the top right. Traders then have to select the country they will be trading from and click the continue button.
The next step is to register with an email id and a password, and then traders can choose from spread betting and CFD trading and click on the continue button for further process.
Traders then have to fill in information like name, email, date of birth, address, and contact number.
The fourth step is to answer a few questions regarding the employment status of the trader and experience in the financial market trading and click on the submit button.
Traders receive an email link for verification through third-party video identification. There the clients are asked to show their documents and identity proofs.
Clients have to also upload a residency verification document to the company.
At last, traders have to wait for verification from the CMC Markets and agree to the terms and conditions to begin trading.
CMC Markets Review: Trading Platforms
CMC Markets is a forex broker of the UK that has the world’s best trading platforms to help investors achieve their desired goals. The trading platforms of CMC Markets are designed for easy to use and powerful trading simultaneously.
The trading platforms incorporate professional-grade features, security, lightning-fast execution, analysis, and support all the market strategies. CMC Markets has MetaTrader4, Webtrader, and Mobile Application softwares as trading platforms. These are the three most popular platforms used worldwide.
A trader can use the most popular trading platform, MT4, with CMC Markets. The advanced software was developed by Metaquotes in 2005 and has been widely accepted for its user-friendly interface. The technology can be used with all the markets and instruments accessible with CMC Markets.
MT4 has the below-listed facilities to trade and predict the market changes:
Thousands of indicators and signals
Automate trading with algos
Web platform or browser of the CMC Markets is the service that helps traders connect with the markets directly. It is a customizable web platform offered by the forex broker to invest and monitor the markets. The web browser works on devices such as laptops, systems, and mobile as well.
It has the benefits such as:
CMC Markets is an award-winning broker for its mobile trading application. Giving traders total control of their investments in the markets. Traders can visit markets anytime and anywhere they want. Moreover, they have to just simply download it on their mobiles and customize it as per need.
Here we have its features:
News and insights of market
CMC Markets Review: Trading Instruments
Having a wide variety to pick from has always been a satisfying factor in any field. With CMC Markets, traders can select their financial instruments for trade from around 11000 instruments. Moreover, there are markets as well to trade and diversify the portfolio of the investors.
Markets available with CMC Markets are:
CMC Markets Review: Commission and Spreads
CMC Markets has no extra charges to take from its clients. They can easily invest and trade with the UK-based brokerage company and earn. The company does not aim to earn from their clients’ losses. The company has a commission on the trading of share CFDs when the clients enter and exit the market.
Moreover, this depends on the country of residence of the client. For countries, there are different commission percent:
Spreads is another charge that traders may have to pay for trading. The spreads are the difference in the buy and sell price of a trading instrument. Traders pay the spreads on their financial instruments to the broker. There are different spread charges for the instruments, like UK 100 has a minimum spread of 1; similarly, US 30 has a minimum spread of 2, etc.
CMC Markets Review: Leverage
The leverage is the ratio of upliftment offered by the brokers to enhance the trading capability of the client. It helps them invest small and have a high market position to open. CMC Markets offers maximum leverage of 1:500 for professional corporate clients and 1:30 for retail clients.
The clients can use the leverage and double their profits; however, they should be aware of the risk involved with it.
CMC Markets Review: Deposit and Withdrawal
Deposit and withdrawal of the funds in the trading accounts of CMC Markets are straightforward. They are required to deposit the funds via the mode they feel comfortable with. There are several options for deposit and withdrawal of funds with CMC Markets:
Moreover, there is no deposit fee charged from the trader, and there are options of base currency to trade.
With the withdrawal of funds, traders have to inform the broker about it through a form. After which, the broker verifies the trader, and within a day, the withdrawal process is completed. The withdrawal, however, may have a charge if it is required on the same day or is done through an international bank.
CMC Markets Review: Education and Research
CMC Markets is best when it comes to learning; traders can educate themselves with the facilities of the broker. There is educational material for enhancing trade knowledge and understanding of the clients. Traders can use:
Trading platform tutorials
Research is an essential part of the CMC Markets; traders can use the facility to analyse the markets and instruments. It will help them have an insight into the trade and market with better knowledge. Traders can have news before its release in the market, predict the market movements and use the tools to be successful investors.
Traders have the following research tools:
CMC Markets Review: Customer Support
CMC Markets customer support is 24 hours available to help their clients. Traders can connect with them through various modes and communicate their problems. The professional team of CMC Markets tries its level best to solve the queries. Clients can contact them through:
Contact number: +44(0)20 7170 8200
Moreover, there are other countries’ contact and email addresses available on the website as per the needs of clients, and they can be contacted 24/5.
CMC Markets Review: Final Verdict
A forex broker of the UK, which is listed with the London Stock Exchange and is regulated by the top tier authorities, itself makes the company best to trade with. So investors can trade with the company and benefit from their services, enjoy profits, and educate.
Trading is not that simple a task; therefore, traders should check with their brokers or financial advisors. CMC Markets complete review is given in the article, which will introduce the traders to the company and its services without false boosting. Happy Trading
