CMC Markets Review: Features, Pros, Cons, and More 2024!

CMC Markets is a forex and CFD broker that provides online trading services globally. Based in the UK, it is regulated by top regulatory authorities including FCA, MAS, ASIC. CMC Markets offers a variety of trading instruments, including Forex, Indices, Share &ETFs, Commodities, Cryptocurrencies, Treasuries. It supports popular trading platforms and tools such as Mt4, Web Trading and Mobile.

Though CMC Markets is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at CMC Markets, exploring its features, pros, cons, and more. By reading this review, you will gain a better understanding of whether CMC Markets is the right broker for your trading needs and preferences.

What is CMC Markets?

Founded in 1989, CMC Markets is a publicly traded broker (Ticker: CMCX). The broker is regulated in the UK, Australia, Canada, and Singapore. It offers over 9800 trading instruments, including Forex, Indices, Cryptocurrencies, Shares & ETFs, and Commodities. There is no minimum deposit requirement on IC Markets; you may deposit as low as $1. CMC Markets allows EA trading and news trading. The broker uses the most popular trading ust Marketsplatform, MetaTrader (MT4), as its trading platform.

Key Features:

• Applicable For: Applicable for all jurisdictions including FCA, MAS, ASIC
• Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity. 
•  KYC Verification: Required 
• Trading Instruments: Forex, Indices, Share &ETFs, Commodities, Cryptocurrencies, Treasuries. 
• Trading Platforms: Mt4, Web Trading, Mobile
• Minimum Deposit:  $0
• Maximum Leverage: Up to 30:1 (ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
• Trading Fees:nly Spread is charged (No Commission). Variable spreads from 0.3 pips. A rollover commission is applied on open positions overnight.
• Minimum Trade Size: 0.01 lot. 
• Maximum Trade Size (Lot restriction per Ticket): 200 Lots 
• Funding Currencies: GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK and SGD
• Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account. 
• Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
• Trading Style Allowed: All including Scalping, hedging, and EA Trading. 
• Stop Out Level (retail): 50%
• Margin Call Level: 80% 
• Negative balance Protection: Yes 
• Investor Protection:  Available under ASIC, CySEC, BaFIN, and FCA regulations. However, the Investor protection scheme does not apply to FSA jurisdiction. 

CMC Markets Pros and Cons

Pros:

• Regulated by FCA, ASIC, IIROC, MAS, FMA
• Founded in 1989, CMC Markets is publicly traded company
• The minimum deposit is as low as $0 
• Comparatively low spread starting from 0.3 pips
• Allows news trading, EA/Robot trading
• Extensive range of tradable assets 
• Excellent education and research resources

Cons:

• Offered only MT4, no MT5, cTrader trading platforms 
• Maximum leverage is only 1:300
•  No passive investment programme or social trading platforms ( No PAMM, MAM accounts) 
•  Does not accept US clients
• Only CFD Trading 
• High CFD spreads for certain Indices 
• Spread betting only for UK residents

Our Ratings for CMC Markets:

Review and Reputation on Public Domains:

Public review sites like Trustpilot and Forex Peace Army have become important sources of information about brokers. Many traders share their real-life trading experiences on these platforms. However, there are also many fake or paid reviews on these platforms, and sometimes competitors leave negative reviews. This makes it challenging to find genuine reviews. By carefully reading the content and context of the reviews, you can often discern their authenticity. Do not blindly rely on these reviews; instead, use them as part of your overall broker research process

CMC Markets Ratings and Reviews from Trustpilot:

CMC Markets has earned a rating of 4.8 out of 5 on Trustpilot. These high ratings indicate customer satisfaction and trust. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.

CMC Markets Ratings and Reviews from Forex Peace Army:

CMC Markets has achieved an average rating of 3.8 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. Several reasons might contribute to this. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. Typically, fake, paid, or competitor reviews are generic. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them. For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service.

Final Verdict:

CMC Markets is a regulated forex and CFD broker that offers its trading services to traders and investors worldwide. It provides a wide range of trading instruments, including Forex, Indices, Share &ETFs, Commodities, Cryptocurrencies, Treasuries. The broker’s spreads start from as low as 0.3 pips, and it offers high leverage (up to 1:300) and a low minimum deposit (as low as $0). With top-tier regulations, a variety of trading instruments, high leverage, low minimum deposit, fast execution, and flexible account types, CMC Markets can be a good choice for many traders.

However, the broker does not accept US clients. It also does not have any investor protection scheme for non-UK/EU traders. Additionally, CMC Markets does not offer any real stocks or cryptocurrencies; it offers only forex and derivatives. 

If you are a forex and CFD trader looking for a trusted broker, CMC Markets can be an ideal choice for your trading journey. However, We always encourage traders to test brokers with a demo account or with a small deposit. Once you are satisfied with the trading conditions of the broker, you may proceed with real trading.