CMC Markets Reviews 2023: Features, Cost & Alternatives

Founded in 1989, CMC Markets has become one of the premier online trading platforms for CFDs. The next-generation platform makes trading CFDs a breeze at home or on the go with the company’s nicely-designed mobile app.

CMC Markets is for more than just CFD traders, though. Advanced traders will also be able to enjoy spread betting, forex pairs, and purchase publicly traded stocks on the London Stock Exchange and other financial markets. 

CMC Market’s online trading platform is easy enough for retail investor accounts to use, but also offers some nice depth and advanced risk management tools. With research tools, access to global markets, and a next-generation trading platform, there’s a lot to like about this online broker.

We provide more detailed information about this forex broker and the trading strategies it enables throughout the rest of this guide.

CMC Markets Advantages

CMC Markets offers several unique benefits that make it a viable option for CFD trading, trading forex, and setting up a spread betting account. Here are the benefits you may enjoy while using the platform.

CMC Markets Web Platform 

The CMC Markets website is very easy to use and gives you access to every asset class you could want. From forex brokers and security CMC markets to social trading and crypto, you’ll be able to make the most of your trades on this platform.

CMC Markets Mobile App

The company’s mobile app makes it easy to trade stocks, CFDs, forex, and more while on the go.  Sophisticated trading platforms that you can access on a mobile device are hard to find. But CMC Markets online brokers fit that description and then some.

Research & Educational Tools

CMC Markets offers some innovative trading tools. However, you typically have to pay extra for these. For example, there is a market data fee that eats into client funds, if you decide to pay it. However, these tools can help retail CFD accounts make smarter decisions.

Demo Account

If you want to find out whether CMC Markets is the best overall forex broker for your goals, create a demo account. This lets you try the trading platform and its various financial instruments out without risking your funds.

Trade on Meta Trader 4 & Meta Trader 5

Forex and CFD traders can also trade on Meta Trader 4 and 5 through CMC Markets. Forex traders just need to complete the account opening process to get started and will enjoy tight spreads and low CMC Markets fees after doing so.

CMC Markets Account Types

Whether you’re a retail trader or somewhat more sophisticated than that, CMC Markets likely has an account type to meet your needs.

The company’s main account types include:

• CFD accounts
• Share investing accounts
• Corporate accounts

The CMC Markets customer service and financial services compensation scheme you get access to can vary based on the account type you choose. But you always get access to technical analysis and the next-generation platform regardless of which account type you choose

CMC Markets CFD Account

The CMC Markets CFD account is good for those who just wish to trade CFDs. You get access to the next-generation platform, but you’ll have CMC Markets stockbroking limited access with this type of account.

CMC Markets Share Investing Account

If you want to trade shares on the Sydney Stock Exchange, the UK Stock exchange, and others, a share investing account may be your best bet. You can compare trading fees if you’re unsure, but this type of account also gives you access to things like spread betting, in addition to publicly traded companies.

CMC Markets Quick Overview

4.6 stars

Best Overall Value

• Access to many financial instruments
• Tight spreads and low fees
• Positive client sentiment typically says CMC Markets safe to use

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CMC Markets Customer Reviews

Easy to trade in app. Spreads are favourable compared to other companies.

Kirti Shah

Trustworthy and very easy to use platform for CFD and Spreadbetting. Very reasonable and transparent fees and costs. Would highly recommend it over any other competitors.

Sanderson

The app and website keep freezing in the middle of entering or exiting a trade, causing huge losses. When confronted and made aware of the circumstances, they blamed my computer, internet connection or Wi-Fi, shirking their responsibility and citing 86% of retail traders lose money!!

Josh

I used CMC to purchase some shares in the US. I then received a phone call from them informing me that I had 24 hours to sell my shares, or they would be sold for me, and that CMC no longer offered access to the shares I held. I realised a loss of about $10K.

Marcus Michail

CMC Markets Review

As you continue analyzing CMC Markets, you may have more questions about the trading platform and its features. We’ll touch on more of those below.

Is This Brand Right For You?

CMC Markets is a good fit for many different types of clients. It’s a forex broker, and gives you access to crypto assets, and also securities across different financial markets. However, if you’re a U.S. customer, the company won’t give you access to these features, so another trading platform may be a better fit. 

Cost Value 

CMC Markets charges affordable fees and has relatively low trading costs. There are some extra fees if you want access to advanced information about investment trends and market data. But you don’t have to pay for this data unless you want to.

Also, CMC Markets withdrawal fees are minimal to non-existent, depending on the method you use. And you get negative balance protection to help if you start losing money rapidly in volatile market conditions when accounts lose money faster.

Customer Service

Any CMC Markets review will tell you that customer service is where this company loses some ground. Customer service representatives aren’t available over the weekend, which can be frustrating for active traders.

That being said, the online platform and software instruction is pretty good. So you can often find answers to questions you may have through these educational resources.

Ease of Use

CMC Markets is easy enough to use. The trading platform is accessible both on desktops and mobile devices, and it’s a straightforward platform that won’t take much learning if you’re an experienced trader.

Included Features

CMC Markets Next-Generation trading platform has a lot to like, with access to many trading pairs and tight spreads, as well as some helpful advanced trading tools. However, there aren’t great automated trading features, which is something to keep in mind as you consider the rest of our CMC Markets review.

Overall

The overall verdict of CMC Markets is a positive one. The company makes it easy to trade many different kinds of assets – whether you use CMC Markets Canada, UK, or any other country-specific platform. Its fees are also affordable, and the customer service is good enough to satisfy most users, despite not being quite as good as the competition in some cases.

2 Top CMC Markets Alternatives

	eToro	IG Markets	CMC Markets
Avg Spread (Eur/USD)	1	0.86	0.51
Tradeable Symbols	3,458	19,537	12,377
Tier 1 Licenses	2	7	5
Bank
Detail	Read Review	Read Review	Read Review
Link	Visit Website	Visit Broker	Visit Broker

eToro

eToro was founded in 2007 and has quickly become one of the most prominent online brokers thanks to a strong marketing campaign. It’s easier to use than many platforms. However, it has fewer trading pairs, licenses, and higher spreads than the competition.

IG Markets

IG Markets was created in 1974 and delivers access to one of the best trading experiences on the internet, with many unique asset pairs to choose from. It follows the FCA’s client money rules and is very trustworthy with negative balance protection. But its spreads are higher than CMC Markets.

Conclusion

So, now that we’ve reached the end of our CMC Markets review, should you use the platform or not? That’s a question only you can answer, but our CMC Markets review is quite positive.

The platform is affordable to use and provides access to many different trading pairs. You have to pay extra for advanced market data and trading features, but you’re under no obligation to do so. Some accounts lose money anywhere they trade, but you won’t lose excess money on fees when you use CMC Markets.

Frequently Asked Questions (FAQs)