Want to see if CMC Markets is a legit broker? Safe to trade? It spread is high or low? How long to deposit or withdraw money?
We provide answers to all the questions in this CMC Markets Review.
We checked all CMC Markets licenses and regulations to see if CMC Markets scam or safe. We compared CMC Markets fees like spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.
What is CMC Markets
CMC Markets is a UK Forex broker one of the veterans and biggest brokers in trading established back in 1989.
The company operates various entities and is licensed by the top-tier FCA in the UK and further received licenses from ASIC Australia, IIROC Canada, FMA New Zealand, MAS Singapore and more.
CMC Markets highlights
|🗺️ Regulated in||UK, Australia, Canada, New Zealand, Singapore|
|🛡️ Is CMC Markets safe to trade||Yes|
|💵 EUR/USD spread||0.7 pips|
|🏦 Deposit||Bank Wire, Cards, PayPal|
|💰 Minimum deposit||US$ 0|
|🏦 Withdrawal||Bank Wire, Cards, PayPal|
|💻 Trading platform||MT4, CMC Markets Next Generation|
|💳 Trading markets||Forex, CFDs on ETFs, Indices, Shares, Metals, Energies, Bonds, Commodities, Cryptocurrencies, Spread Betting|
|📈 Number of product||10,000+|
|📉 Live chat response||Fast and relevant answers|
License and regulation are crucial to traders’ fund security. There are two facts to check, the broker’s license and its background, second how are you protected if something goes wrong.
Is CMC Markets legit
CMC Markets is based in the UK and there are two regulations by FCA for trading and Spread Betting.
Along the years CMC Markets expanded globally and obtained more license from the Australian Securities and Investments Commission, Investment Industry Regulatory Organization of Canada, Monetary Authority of Singapore, etc.
CMC Markets licenses and status
|Entity||Registered in||Regulator||License no.||Status|
|CMC Markets plc||UK||Financial Conduct Authority (FCA)||173730||Currently Regulated|
|CMC Spreadbet plc||UK||Financial Conduct Authority (FCA)||170627||Currently Regulated|
|CMC Markets Asia Pacific Pty Ltd||Australia||Australian Securities and Investments Commission (ASIC)||ABN 11 100 058 213, AFSL No. 238054||Currently Regulated|
|CMC Markets Canada Inc.||Canada||Investment Industry Regulatory Organization of Canada (IIROC)||Currently Regulated|
|CMC Markets NZ Ltd||New Zealand||Financial Markets Authority (FMA)||F003||Currently Regulated|
|CMC Markets Singapore Pte Ltd||Singapore||Monetary Authority of Singapore (MAS)||No./UEN 200605050||Registered|
Is CMC Markets safe
Yes, CMC Markets is considered safe because it is regulated by the top-tier regulator and regulated with various world authorities.
CMC Markets operates 5 entities and is fully authorized in each jurisdiction. CMC Markets stands on a strong background and operates over 30 years. It is heavily regulated by several financial authorities including top-tier.
The matter of entity applies differences between regulatory requirements and compensations schemes.
CMC Markets compensation scheme
|Entity||Compensation Amount||Negative Balance Protection|
|CMC Markets plc||£85,000||Yes|
|CMC Markets Asia Pacific Pty Ltd||No compensation||Yes|
|CMC Markets Canada Inc.||CAD 1,000,000||Yes|
|CMC Markets NZ Ltd||No compensation||Yes|
|CMC Markets Singapore Pte Ltd||No compensation||Yes|
We recommend to register account with the UK entity if it is available for you since we consider its regulations the best
CMC Markets provides negative balance protection for the traders, so the balance converts to 0 in case trades go negative.
Markets and Products
At CMC Markets you can access and trade exceptional number of instruments and one of the largest world proposals includingForex, CFDs on Stocks, Indices, ETFS, Share Baskets, Rates and Bonds, Oil, Metals and Cryptocurrencies.
Trading instruments range is different in each entity.
Popular Cryptocurrencies and CMC Markets Bitcoin is available for trading, but not available for the UK traders due to recent updates in regulations.
CMC Markets has a single account for CFDs trading and separate Spread Betting account available for the UK residents.
Login CMC Markets Account gives access to your online account area where all setting and management is available.
Fees and commissions
We ranked CMC Markets fee levels low and for some instruments high based on Live Account Spreads and compared to 150 brokers in our database.
The spread we collected for popular instruments from 6 markets and over 150 brokers
|Forex||EUR/USD||0.1-0.9||1-1.5||1.6 or higher|
|Indices||US 500||0.1-0.4||0.5-1.4||1.5 or higher|
|Commodities||Gold||0.1-0.4||0.5-2||2.1 or higher|
|Stocks||Tesla||0.1-0.5||0.6-1||1.1 or higher|
|ETFs||US Russell 2000||0.1-0.4||0.5-1.4||1.5 or higher|
|Cryptocurrencies||Bitcoin||0.1-0.5%||0.6-0.9%||1% or higher|
CMC Markets fees are built into a variable spread for CFDs trading, Spread betting account are starting with spreads from 0.3 points.
On our test trades the average spreads were low for Forex compared to industry benchmarks.
|Markets||Instruments||Standard account||Other brokers’ avg spread|
|ETFs||US Russell 2000||10||0.5-1.4|
You can trade numerous Stocks and Shares, we found trading Stock at CMC Markets is rather high costs, there is a spread and additional commission starting from 10$ based on volume.
Additionally, CMC Markets Plc is listed on Stock and is available for trading as per current CMC Markets Share Price (CMCX).
CMC Markets has low non-trading fees. There is no fee for deposit, or withdrawals, but there is an inactivity fee.
The trading conditions at CMC Markets are good. Almost all trading strategies are allowed including scalping and hedging.
|Change Leverage Allowed||Yes|
For hedging, there is no time limitation for open positions.
Scalping is allowed too supporting Expert Advisors (EAs) with no restrictions. CMC Markets cooperating with BeeksFX for VPS on MT4, you can get Free VPS for 15 lots traded per month.
Trading with leverage is included, the change of leverage and its maximum levels depending on the entity regulations and goes up to 1:500.
CMC Markets charges no deposit fees. You can use bank transfer, credit cards or PayPal. The full range is different for each jurisdiction with additional option of e-wallets.
A bank transfer usually takes several business days, and payments with credit/debit cards and e-wallets are almost instant.
|Deposit Method||Funding Time||Fee|
|Bank Wire Transfer||Within 2-3 Working Day||0$|
|Credit / Debit Card||Instant||0$|
There is no minimum deposit requirement you can start with any amount you wish.
Similar to deposits CMC Markets has no fees for withdrawals.
Withdrawals are processed 1-2 business days, plus additional days for money to appear on your account due to payment providers.
|Withdrawal Method||Withdrawal Time||Fee|
|Bank Wire Transfer||1 Working Day||Free|
|Credit / Debit Card||1 Working Day||Free|
|Skrill, Neteller||1 Working Day||Free|
|PayPal, UnionPay||1 Working Day||Free|
There is no bonus programs or no-deposit bonuses at CMC Markets due to regulations. There is only Refer a Friend program allowing to get 250$ credited to your trading account.
CMC Markets has various trading platforms including the popular MetaTrader4, the proprietary CMC Markets Next Generation Platform. Platforms supporting multiple languages and available across all devices on Windows, Mac.
CMC Markets Mobile App is great design and functionality suitable for Android and IOs.
Research and Tools
CMC Markets has very good research tools.
Trading platforms are packed with insights and analysis, Reuters News, there are Fundamental data, technical tools, trading ideas and OPTO trading intelligence withMarket News and trading podcast.
CMC Markets research tools are available in different places:
- Trading platform
- Insights section on the website
CMC Markets education content is good. You can learn through trading videos, Webinars, trading tools, daily outlooks and Reuter News,.
Demo account is offered on free basis and available on all platforms.
CMC Markets education is overall good experience and you can learn via:
- Demo account
- Educational articles
- Trading guides, videos and ebooks
- Learn to Trade section on Website
CMC Markets customer service is good, FAQ section answers common issues and Live agents are helpful but available during working hours only also depending on the entity. We got fast answer via email.
From the downside Customer Support availably 24/5 and available by:
- Live chat
CMC Markets email is an fast speed, Live Chat agents were offline during our tests, Chat is also available on the platform
|Question Asked||We asked about trading Shares.|
|Time of Reply||We got reply in less than a day.|
|Quality of Reply||The answer was informative and deep enough|
CMC Markets is a safe broker to trade.
The company has good and reputable standing, is well-regulated by authorities including top-tier FCA and is among oldest brokerages.
CMC Markets offers flexibility between platforms and remarkably grate range of trading instruments. We didn’t really find negative points, apart from high costs for Stocks, so CMC Markets may be suitable for any type of traders.
We recommend CMC Markets for various size or experience traders who prefer flexibility between trading instruments and run of various strategies.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.