CMC Markets review and test for investors – good choice or not?
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REVIEW: | REGULATION: | ASSETS: | MINIMUM DEPOSIT: | SPREADS: |
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(4.9 / 5) | FCA, ASIC, FMA, MAS | 10,000 | $ 0 | From variable 0.7 pips |
Is CMC Markets a reliable CFD Broker or not? – CMC Markets is one of the biggest CFD providers for online trading. With more than 9 years of experience in the financial markets, we will test the trading platform in detail. Read about the conditions and trading offers in the next sections. Is it really worth investing your money with CMC Markets? – Find out in the following review.
What is CMC Markets? – The company presented
The Currency Management Corporation (CMC), is a United Kingdom-based financial derivatives dealer. The CMC organization provides several online trading such as Contracts For Difference (CFDs), spread betting, and forex in the global markets. CMC is listed on the London Stock Exchange. The CMC is based in London, UK. It has several branches in Singapore, Sydney, plus other international offices.
In 1989, Currency Management Corporation (CMC) was established as a Foreign Exchange Market by Peter Cruddas. Later in September 2005, the name was changed to CMC Markets. CMC Markets became regulated and licensed in the United Kingdom by the Financial Service Authority (FSA) in 1992.
The company inaugurated a live FX trading platform in 1996 and had done its first FX deal over the internet. CMC Markets was one of the financial companies to provide online trading. The MarketMaker software platform was used to pioneer CMC Market’s internet trading technology. Since 1989 the company has had a good track record and you can also read on Wikipedia about the company.
Facts about the company:
- Founded in 1989
- Based in the United Kingdom
- Worldwide branches
- Listed on the London Stock Exchange
- Professional and leading technology
- Award-winning company
The best brokers for traders in our comparisons – get professional trading conditions with a regulated broker:
Broker: | Review: | Advantages: | Free account: | ||||||||||||||||||||||||||||||||||||
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1. Capital.com | (5 / 5) ➔ Read the review | # Spreads from 0.0 pips # No commissions # Best platform for beginners # No hidden fees # More than 3,000+ markets | Live account from $ 20: (Risk warning: 76% of retail CFD accounts lose money) Review of the conditions for tradersOn CMC Markets, an account permits a trader to deposit a minimum of $ 0 and use at most CMC Markets maximum leverage of 1:500, this is just one of the highest purchases provided in the market. Though there are no precise restrictions as to minimum deposits, traders could place a deposit of $ 200 to begin a trade. CMC Markets has only one account model for online trading where a variable spread is added to the real market prices. The spreads are depending on the market and situation. The difference between the real market price and added spread is the profit for the broker. That is how CMC Markets earns money. See the average spreads and margin in the table below:
The brokers are permitted to follow the STP protocol that is corresponding to orders internally without any advancement to the global liquidity providers irrespective of the account operated on the platform. The CFD Broker does not allow any type of payment apart from using bank transfers or credit cards. On standard accounts, CMC Markets provides a spread as low as 0.7 pips variable on major currency pairs. They only include commissions for investing in equities and share trading. The lesser the investment rate, the higher leverage, smaller spread, and zero commission on trades is an excellent opportunity for hedgers, scalpers, and high-frequency traders for investing in the FX markets without cost limitations. CMC Markets provides the most significant number of financial tools for trading, and this shows its real potential. It has more than 10,000 financial products that comprise shares, Forex currency pairs, bonds, commodities, and several other ETFs. CMC Markets permits traders to diversify funds by generating different investment portfolios. The whole list of financial tools is made open to traders on any of the two accounts. Trading conditions:
Trade from 0.0 pips over 3,000 markets without commissions and professional platforms: (Risk warning: 76% of retail CFD accounts lose money) Test of the CMC Markets trading platformsAccording to the CMC Markets reviews, unlike others of her rivals that offer several CFD trading platforms for their users, it has been noted that the company offers just two trading platforms known as the “Next Generation platform” and the “MetaTrader 4”. The Generation Next platform has automated features, error-free pricing, without any, requotes, plus a personalized dashboard and is developed by the broker itself. Available platforms:
From our experiences, the Next Generation Platform has more advantages than the MetaTrader 4. That’s why we only discuss the own developed platform by CMC Markets in this section. For easy testing on the platform, the CMC Nextgen has different apps for iPhone, Android, and iPad. These apps can be friendly for those who want to try the platform on the go though most traders will prefer a mainstream platform. CMC Nextgen platform permits traders to trade on several financial markets which include CFD service and stockbroking. These services have been recorded to have the lowest trading charges among the significant share trading providers in the Whole of Australia that is backed by outstanding research on the trading volumes done each month. Direct news access:One could quickly get a direct free update from Reuters news, which is one of the advantages of opening a CMC account using the Nextgen platform. Users can also filter the news to suit their Forex needs and relevance to them. One can also see the client’s sentiment on the CFD platform. Note that the platform’s demo account has no trial date, meaning it can never get expired or be limited to a time frame and it provides an unrestricted trade volume. This is why the CMC Markets demo account feature is well known as a baby step to currency trading and testing on the platform. We recommend using it before investing real money. The advantages of the Next Generation Platform:
Trade from 0.0 pips over 3,000 markets without commissions and professional platforms: (Risk warning: 76% of retail CFD accounts lose money) Analysis and charting for professional tradingGenerally, charts are a substantial instrument when an expansive price history conducts it over the years. Though one needs to understand how to read charts and utilize them as a basis for technical analysis. Charts can come in the form of price levels, identifying trend updates, and many other forms. It can be used to compare price actions across different time frames, which is vital to helping with price predictions in the future. For instance, the CMC Markets covers all price history for a broad scope of assets for over two decades. This kind of detailed information is vital for traders to carry out price estimation or forecasts and plot their trading blueprints. Being able to read the chart is one thing, the next is for traders to be able to analyze and reach firm conclusions using the charts to decide resistance and support levels. Leaving notes beside charts is a widespread habit for traders; this provides a side-by-side backing and theme to the planning strategy. The charting process is not automated, but on the CMC Markets platform, there is an integrated solution that combines all technical analysis in one easy layout. CMC Markets platform provides a personalized chart, more than 35 drawing tools, and over 115 indicators. All these allow a trader to get deeper and perform quick technical analysis on the dashboard. Also, the technical analysis suite assists in analyzing fees point for pattern recognition. By this, the CMC Markets platform can perform a price forecast for preset assets, giving a peep into how an asset could achieve over the years. Charting features:
Trade from 0.0 pips over 3,000 markets without commissions and professional platforms: (Risk warning: 76% of retail CFD accounts lose money) CMC Markets mobile trading (App)The CMC Markets trading software also diversifies into tablets and mobile apps. Recently, the platform’s CFD trading and spread betting application had won awards. On the app, you can access the full order ticket functionality. It also gives access to mobile-optimized charting, signals, trade instruments, and over 40 technical indicators. Mobile apps are available for:
One needs to activate the rotation mode on the device to a horizontal mode; with this, chart conduction could be a lot easier. Zooming and drawing trend lines will come out clearer and cleaner. Conclusively, the CMC Markets mobile trading app permits sleek transactions from its desktop-based platform, giving users the same look and feel. The applications are easy to operate and have all the necessary features needed for real trading. From the main CMC Markets official website, anyone can access video tutorials on how to make use of the apps on iOS or Android. The best brokers for traders in our comparisons – get professional trading conditions with a regulated broker:
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