Founded in 1989, CMC Markets (LSE: CMCX) has grown to become one of the leading retail forex and CFD brokerages, offering nearly 10,000 CFD instruments across major asset classes including forex, commodities, and securities markets. In 2016, CMC Markets was listed on the London Stock Exchange under the ticker CMCX, with an initial valuation of $1 billion, making it one of the largest technology IPOs of the year.
CMC Markets offers its Next Generation trading platform as a web-based platform that is also available as a mobile app for Android and iPhone/iPad devices.
CMC Markets serves over 60,000 clients worldwide through its 15 offices globally and across its entities regulated in the UK, Canada, and Australia.
Trust Score
Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.
Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of CMC Markets.
| CMC Markets | |
|---|---|
| Trust Score | 90 |
| Year Founded | 1989 |
| Publicly-Traded Company (Listed) | Yes |
| Regulated in Major Hub | Yes |
| Regulated in Emerging Hub | Yes |
| Authorised in the European Union | Yes |
| CFTC Registered (USA) | No |
| FCA Regulated (UK) | Yes |
| IIROC Authorised (Canada) | Yes |
| FINMA Authorised (Switzerland) | No |
| ASIC Authorised (Australia) | Yes |
| SFC Authorised (Hong Kong) | No |
| MAS Authorised (Singapore) | Yes |
| FSA Authorised (Japan) | No |
| FMA Authorised (New Zealand) | Yes |
| CySEC Authorised (Cyprus) | No |
Offering of Investments
The following table summarizes the different investment products available to CMC Markets clients.
| CMC Markets | |
|---|---|
| Minimum Initial Deposit | $0.00 |
| Currency Pairs (Total Forex pairs) | 183 |
| CFDs - Total Offered | 10172 |
| Exchange Traded Securities: US | No |
| Exchange Traded Securities: International | Yes |
| Cryptocurrency traded as actual | No |
| Cryptocurrency traded as CFD | Yes |
Commissions & Fees
CMC Markets offers highly competitive pricing, with average spreads on the EUR/USD as low as 0.7 pips and typical spreads of 0.772 pips, according to CMC Markets price data for the 30 days ending November, 2017.
In our 2018 Forex Review, CMC Markets finished Best in Class thanks to its low spread offering, which is available to all its customer segments and account types. Close competitors include its direct peers in the multi-asset category: IG, Saxo, Dukascopy, Gain Capital, and XTB.
However, for more aggressive pricingOne final note on pricing, CMC Markets does also offers liquidity rebates to active traders that surpass at least £50 million in notional trading volumes per month, with rebate levels ranging from £5 to as much as £10 per million for those that trade even higher volumes.
| CMC Markets | |
|---|---|
| Average Spread EUR/USD - Standard | 0.772 |
| All-in Cost EUR/USD - Active | 0.772 |
| Active Trader or Premium/VIP | Yes |
Customer Service
For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.
Results:
- Average Connection Time: 1-2 minute
- Average Net Promoter Score: 5 / 10
- Average Professionalism Score: 4.3 / 10
- Overall Score: 5.1 / 10
- Ranking: 30th (43 brokers)
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