CMC Markets Review
CMC Markets is one of the most significant and well known forex brokers in the UK and therefore we believe are worthy of some close consideration. CMC Group was founded in 1989 and was the first company to offer one of the earliest real-time forex trading platforms on the web. By 2001, the company began offering CFDs and online spread betting which is largely the core of the company’s business today. CMC largely defined how these instruments have been delivered to the retail market by being one of the first firms to offer them online. Fast forward to today and CMC is one of the largest global providers of CFDs and spread betting and is a member of the ASX which allows Australians to purchase ASX listed equities.
Trading with CMC Markets
The broker operates using only an online interface in replace of a traditional trading desk. Marketmaker is the company’s own platform which operates completely online in a real-time system so that the Forex trading experience offered on this platform is as efficient and up-to-date as possible. Recently CMC has introduced Marketmaker for mobiles which is a new innovation that allows users to manage accounts from their mobile devices. As this entire process is only available online and on mobile devices, the company is able to cut time delays and decrease their overheads. The company also offers a free demo account for new traders to utilise and familiarise themselves with.
Trading Spreads and Account Management
CMC Markets offers customers the ability to determine their own amount of leveraging with clients allowed as little as $1 per point on each of their financial instruments offered. There are also no commission charges, nor do the company charge fees for account management on CFD trading. A major selling point for the company is that they offer some of the tightest spreads available in the market which include an extensive variety of commodities and international markets. CMC also provide very competitive margin rates for their clients, ranging from 1% to 5%.
Suitability of CMC Markets
CMC is regulated by ASIC and provides accounts for both individuals and corporations. With offices located across the globe, CMC provides access for many clients to many international markets. Furthermore, retail partners are provided with the opportunity to use CMC services through white-labelling which has been a very successful part of the core business of CMC Group.
Advantages and Disadvantages of CMC Markets
- The Company provides free online education courses for all of their clients. These courses range from highly advanced and technical training schedules, right through to simple introductory education for beginners. Anyone that registers for a CMC account is given free access to this impressive information.
- The cutting edge technology utilised by CMC is perhaps one of the company’s greatest assets. Being the first trading company to provide this level of internet trading. CMC is committed to providing the most innovative and up-to-date technology. This commitment has resulted in a very well rounded trading software that their platform Marketmaker is based upon, in which they have been awarded numerous prestigious awards for.
- The Platform have gone to extensive efforts to ensure that their entire trading process is intuitive and accessible for beginner traders. As well as their website being very well set-out and easy to use, their explanation tools are also very simple and easy to understand. All in all, CMC has gone to extensive efforts to ensure their platform is as unintimidating as possible.
- CMC’s commitment to ensuring their platform is as simple to use as possible is not at the expense of providing advanced information for professional traders. CMC also offer free services for advanced traders such as research tools, risk management tools and sophisticated advanced charting.
The simplicity of CMC’s trading platform, their advanced flexibility and leveraging possibilities combined with their “anybody can use our product” approach may also act as a liability for the company in regards to the level of risk perceived by inexperienced users. If beginner traders took advantage of the heavy leveraging they could potentially be putting more of their capital at risk than they understand. However, having a sophisticated financial platform whilst also making it available to the retail market involves a variety of unavoidable risks and this is one of those dangers.
CMC Markets Summary
CMC Markets is an excellent trading company that provides the necessary tools and resources for traders of all skill levels and experience to trade in a simple, easy-to-use way. CMC is registered with the Australian Stock Exchange and the company is regulated by ASIC in Australia. The company prides themselves on providing the most cutting-edge, innovative technology and will continue to make huge investments into their proprietary trading platform and mobile software which will be a long-term asset for not only the company but also their clients. The application process is simple to use and is completely accessible online and they offer a variety of payment methods to facilitate for all of their customers. CMC continues to provide their customers with excellent services and are at the forefront of online trading.