CMC Markets is a brand name of CMC Markets UK plc – a company that is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 173730. CMC Markets also operates as a spread-betting brokerage company owned by CMC Spreadbet plc with reference number 170627. Retail client money is held separately from CMC Markets’ own funds and is protected. The company claims it holds client funds with UK banks such Natwest, Barclays and Lloyds.
Customers can trade over 9,500 CFDs on forex, indices, cryptocurrencies, commodities, shares and treasuries. Spreads are variable and start from 0.7 pips for major currency pairs and from USD37 for Bitcoin. Shares commissions start at 0.1%.
CMC Markets offers its own developed trading platform designed to easily analyze market data. The charting package of the ‘Next Generation Platform‘ has over 115 technical indicators and drawing tools, 70 chart patterns and 12 chart types built in. The pattern recognition tool lets traders automatically identify patterns and get price predictions levels. The platform allows customers to view real-time prices and manage trades directly from charts. In addition, Reuters live news are displayed within the platform.
Clients can get the opportunity to use the guaranteed stop loss orders (GSLOs). Compared to ordinary stop loss orders they guarantee to close the position at the specified price, regardless of market volatility or gapping. GSLOs can be placed at a minimum distance from the current market price. GSLOs are not free of charge and you must pay a fee for this feature. The fee is based on the current market price and is displayed at the bottom of the order ticket. If you change your decision, you can cancel a GSLO or switch it to a regular stop loss order at any time before it is triggered.
In addition, customers can trade through one of the most popular platforms in the world – MetaTrader 4. All trading terminals are also available as mobile versions for iOS and Android smartphones.
CMC Markets accepts deposits made with credit or debit cards or bank transfers. There is no minimum deposit required.
Many useful things can be found in the ‘News and Analysis’ section including an economic calendar, weekly outlook, webinars and events. Many other educational things are in the ‘Learn’ section’.
We’ll look at the legal documents on the website. The ‘Terms of Business’ document informs that the company offers negative balance protection, but it is not enabled by default. Only with a CMC Start Account you cannot lose more money than your invested capital. Note that negative balance protection is only enabled on your account if the company has noticed you that it is enabled. This is done by enabling the Shield mode on the account, while you don’t have any open positions. You can enable and disable the Shield Mode at any time by calling the company’s client management team. The ‘Risk Warning Notice’ document informs that CMC Markets acts as a market maker. That means the company may run the risk of not hedging the client’s position and if the client loses CMC Markets wins. That leads to a conflict of interest. However, CMC Markets UK plc is regulated by the FCA and this obliges it to be the correct counterparty.
We can conclude that CMC Markets is a global financial company and you can rely on it. Customers can either trade via the company’s ‘Next Generation Platform‘, or the MT4. Although SMS Market is a market maker, it offers competitive trading conditions.