CMC Markets Review 2019 | Is CMC Markets a Scam or Legit Forex Broker?
Rating breakdown
CMC Markets Overview
CMC Markets is the award-winning UK based online FX and CFD brokerage firm that was established in 1989. The company is listed in the London Stock Exchange under the ticker CMCX
| # | Broker's Features | CMC MARKETS Availability |
|---|---|---|
| # | Commissions | ❌ |
| # | Hedging | ❌ |
| # | PAMM | ❌ |
| # | Scalping | ❌ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ❌ |
| # | Swaps | ❌ |
| # | Demo account | ✔ |
| # | Daily analysis | ❌ |
| # | Automated trading | ❌ |
| # | Mobile trading | ❌ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ❌ |
| # | Bonuses Promotions | ❌ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ❌ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review CMC Markets.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. CMC Markets offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures.
Tradable Products: Over 10,000 trading instruments with competitive spreads
Broker Type: Many types of brokers can be found in the most dynamic market in the world. CMC Markets is Dealing Desk, Market Maker.
Features: Trade with leverage as high 1:200 (professional traders) and take a look at a wide selection of add-on trading features
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 has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. CMC Markets recommended minimum capital is $200.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. CMC Markets is regulated by FCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: A forex broker with licenses from world’s top financial watchdogs
Languages Available: Next lets have a look at each broker's different Language options. CMC Markets offers Arabic, Chinese, Czech, Danish, English, Finnish, .
Payment methods: Next lets have a look at each broker's payment options. CMC Markets offers Credit/Debit Cards, Bank Wire Transfer different payment methods for each account types.
Deposit and withdrawal: Three account funding options with no minimum deposit requirement
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, CMC Markets makes CMC Web Platform available to clients.
Web & Desktop Trading Platforms: A proprietary trading platform with an assortment of technical analysis tools, news feed, and chat function
Mobile Trading Platforms: A robust native mobile app available for Android and iOS devices
Trader Education
E-books, videos, and webinars for beginners, intermediate, and veteran traders
Promotions
Monthly rebates and refer a friend bonus for Australia, New Zealand, and Singapore traders
Support
Multilingual customer support available on a 24/5 basis. Help available through in-depth FAQ’s, Live Chat, email, and phone
Recup
Highly regulated broker across multiple jurisdictions
Final Thoughts
The fact that this broker is so highly regulated across multiple jurisdictions speaks volumes as to its seriousness.
Trading Experience
Novice, intermediate and veteran traders will find this broker resourceful