• CMC Markets UK plc (173730) is authorized and regulated by the Financial Conduct Authority in the United Kingdom;
  • Located at CMC Markets UK plc 133 Houndsditch London EC3A 7BX;
  • Products: Forex, Indices, Commodities, Shares, Treasuries;
  • Registered in: England and Wales, number: 2589529;
  • Available to non-U.S. customers only

CMC markets Review + Scam or Reliable Broker? 

Brief history

CMC markets was founded in 1989 and it has evolved into one of the leading names in the trading industry. Their trade portfolio includes forex, securities and commodities, all available for trading on both Android and iOS devices. With over 57.000 clients worldwide, the company boasts 14 global offices and operates all over the UK, Canada and Australia.

Best practices

They offer over 10.000 CFD instruments as well as an extensive selection of forex pairs. This broker regulated by strategic financial centers, publicly listed in the UK. Their platform tools are of the highest quality, which helps with the overall client experience, ensuring maximum comfort and security for all of their users.

Their customer service team offers live chat support, but only once you access the platform. Their services are not all that smooth, but they make up for if with a few additional help categories. These include a brief start guide, a tour of the platform, trading tips and strategies as well as real-time trading events. Their customer support team can be rated as professional overall.

Safety of funds

All of their client money is kept in segregated bank accounts, and the banks they choose are periodically assessed for pending risks. They are regulated by the FCA, so clients’ money is protected and unavailable to any creditor. In case the firm fails, your money stays safe.

Account and deposit types

We, as far as commissions and fees go, CMC markets offers spreads that start as low as 0.7. Their highly competitive scores rank them in the top trading providers of the industry, and their competitors include IG, Plus500 and Saxo Bank as far as commissions are concerned. Another major plus for their featured spreads is that they don’t come with a required volume or deposit, like most spreads do. They also include liquidity rebates for the active trader that exceeds £50 million in monthly trading volumes, and their rebate levels go from £5 to £10 per million.

Platform

We found that their platform is quite powerful, and is easy to access. It would be nice if they gave up on the Flash support, though, as most browsers are already having trouble with it and switched to far better replacements. The trading environment favors the beginner as well as the more experienced trader, offering extra options for customization, to fit any request.

The design is straightforward, and we appreciate the clutter-free interface. You can easily switch between order types, and get easy access to the estimated margin section at the bottom of the trade ticket window.

Another enjoyable feature is the module linking option, which enables users to interconnect a variety of different windows on the same layout; this way, when you change an instrument in one module, it gets automatically updated across all of the other linked modules, and the relevant data is kept for all the windows.

Every chart can be equipped with studies of your choice and benefits from 69 technical indicators, so this makes CMC markets a next gen platform when it comes to charting.

Dislikes

So….what’s there not to like? Well, they lack the essential MT4 platform and we found no support for automated trading strategies. We’d say that counts as a major minus in this industry, and the flash-based web platform doesn’t help either. Also, their TradeMaker desktop platform is only available for legacy clients after being decommissioned, which counts as a minus as well.

Major pluses

They offer live chat support, but you have to actually be on the platform, and not on the site, to access it. You also get to access extra help categories, such as a quick start guide, a comprehensive tour of the platform, trading strategy summary and live trader events. Their You Tube channel is quite satisfactory when it comes to the information it provides. They also offer email support or assistance via telephone, and experiences usually benefit from a positive note. Their support representatives are quite well informed and willing to assist you in any way, so we would rank them as highly professional.

Conclusion

They feature a next gen platform, with multiple configuration tools and endless assets to choose from. They clearly outrank their competitors when it comes to forex pairs, offering a huge selection that’s never going to leave you wanting more. If you’re looking for multi-asset solutions, security and variety, you’ve come to the right place. Now, is CMC markets a scam? Well, it certainly doesn’t appear to be, from what we could tell. It’s up to you if you want to start trading with them, all we can say is that our demands were met in a most professional way.