CMC Markets four ways: Forex, CFDs, Spread Betting, Binary Options.
To open a live account, you’ll need a minimum deposit of at least $200. Alternatively, CMC Markets offer a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 173730 ), and Derivatives issuer licence in New Zealand, FSP No41187. CMC Markets puts all client funds in a segregated bank account and uses tier-1 banks for this. CMC Markets have been established since 1989, and have a head office in UK.
Before we dive into some of the more detailed aspects of CMC Markets’s spreads, fees, platforms and trading features, you may want to open CMC Markets‘s website in a new tab by clicking the button below in order to see the latest information directly from CMC Markets.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Your capital is at risk.
What are CMC Markets's spreads & fees?
Like most brokers, CMC Markets take a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on CMC Markets’s website. The colour bars show how competitive CMC Markets’s spreads are in comparison to other popular brokers featured on BrokerNotes.
EUR/USD0.7 PIPS $0.00 per lot
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
USD/JPY0.7 PIPS $0.00 per lot
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
GBP/USD0.9 PIPS $0.00 per lot
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Speads are dynamic and are for informational purposes only. Last updated: June 06, 2018.
As you can see, CMC Markets's minimum spread for trading EUR/USD is 0.7 pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with CMC Markets vs. similar brokers.
How much does CMC Markets charge to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) with CMC Markets at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $9.5. Here’s a rough breakdown of the fees and how this compares against Plus500 & AvaTrade.
|Typical overnight fee:||$2.50||$9.40||$5.00|
|Total cost of a 100k trade:||$9.5||$15.4||$12|
|$5.90 more||$2.50 more|
|Visit CMC Markets||Visit Plus500||Visit AvaTrade|
Your capital is at risk. All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018.
What can you trade with CMC Markets?
|FX / Currencies||CMC Markets||Plus500||AvaTrade|
|# of forex pairs offered||32||61||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|Commodity CFDs||CMC Markets||Plus500||AvaTrade|
|# of commodities offered||0||17||16|
|Indiced & Stock CFDs||CMC Markets||Plus500||AvaTrade|
|# of Stocks offered||9000||1816||99|
|See CMC Markets's Instruments||See Plus500's Instruments||See AvaTrade's Instruments|
What’s the CMC Markets trading experience like?
1) Platforms and apps
CMC Markets offer a user-friendly custom trading platform, available as both a downloadable program or as a broswer based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers here
CMC Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See CMC Markets's platforms Your capital is at risk.
2) Executing Trades
With CMC Markets, the minimum and maximum trade requirements vary depending on the trader and the instrument.
As a market maker CMC Markets may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, CMC Markets offer margin up to 0.002 on currencies.
Finally, we’ve listed some of the popular funding methods that CMC Markets offers its traders on the right.
3) Client support
CMC Markets support a wide range of languages including English, German, French, Polish, Spanish, Swedish, Italian, and Norwegian
CMC Markets have a BrokerNotes double AA support rating because CMC Markets offer over three languages email and phone support.
4) What you’ll need to open an account with CMC Markets
As CMC Markets is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore CMC Markets’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with CMC Markets you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.cmcmarkets.com on March 21, 2018.