An award-winning financial brokerage service, CMC Markets has been in the industry since 1989. This broker has been providing services since before the forex industry was even a popular topic. Based out of the UK, CMC Markets caters to traders worldwide. In this CMC Markets review, we will be sharing what are the features and benefits.
One of the greater things about this broker is that they give you access to trade over 10,000 different financial assets in the forex industry. These include forex pairs, commodities, cryptocurrencies, shares, indices, and ETFs. You can trade all these with an investment of $1.
CMC Markets provides you with one of the most versatile trading platforms that are not only easy to use but also completely free to everyone who signs up with this broker. You can get access to leverage up to 1:500 and the tightest spreads the industry has to offer.
Picture this. You just signed up with a broker and you’re about to place your first trade when you realize that the broker doesn’t even have the asset you’re looking for. This has happened to me way too many times and I can say that CMC Markets is one of the only brokers where I didn’t have to worry about finding my favorite financial instruments as they had it all.
I’ve been scammed a couple of times back when I didn’t know how to properly find out if a broker is authentic or not. It’s great that CMC Markets has several regulations under its belt which help clients trust it a lot more as it shows that they’re not partaking in any illegal activity.
CMC Markets is great for scalpers as these types of traders open a large number of small lots. Opening many small lots can be really costly on a commission-based trading account. Since CMC Markets doesn’t charge a commission on any of their trading accounts, this is a great broker for those who perform scalping in the industry.
CMC Markets is also great for professionals as they provide a module linking tool that enables you to link multiple time frames and view them on a single screen. This is great for analyzing a currency pair through different time periods in order to understand the market sentiment. They also provide a market calendar which gives you a heads up on upcoming important global events that may disrupt the market rates.
CMC Markets is licensed and authorized to trade in multiple jurisdictions under the regulations of some of the top bodies in the financial industry. This is to ensure that your funds are secure and that there is no fraudulent activity going on. Some regulatory bodies include the Financial Conduct Authority UK (FCA), the Australian Securities and Exchange Commission (ASIC), the Monetary Authority of Singapore (MAS), and the Financial Markets Authority NZ (FMA).
One of the most thoughtful features of CMC Markets is its selection of trading platforms. CMC Markets gives their clients the ability to choose between their own proprietary platform as well as the popular MetaTrader 4 platform. The proprietary platform is great for a more personalized experience whereas the MT4 platform is great for a user-friendly interface.
CMC Markets offers three different types of trading accounts. The only difference between them is the platform they run on. CMC Markets does not charge a commission on any of these accounts as they’re already earning through the spreads in them. This is a pretty fair deal, especially considering that you only need $1 to open an account with them.
Have you ever signed up with a broker just to realize they don’t even have the assets you were looking forward to trade? I know the first few times I signed up with brokers, they barely had anything to offer. This was really disappointing as I was looking forward to starting my trading journey. CMC Markets solved this problem for me as they have over 10,000 different financial assets up for trading so you never have to worry about running out of options.
It’s nice to see that CMC Markets only requires that you make a minimum deposit of $1 in order to trade with them. Most traders don’t like to make a big initial investment when they’re just starting their journey in this industry. They like to dip their feet in first and test out the waters before going all in. CMC Markets understands this which is why they offer their trading accounts for as low as $1 which is really appreciating to see.
One thing that many traders worry about is withdrawing their profits. What would happen if a broker is unable to pay its clients their hard-earned profits? We wouldn’t want to find out. This is why CMC Markets has partnered up with the Financial Services Compensation Scheme (FSCS) so in the slight chance they do become insolvent, FSCS can compensate them for up to $85,000 per person. You should know that this varies depending on the assets you’ve traded.
CMC Markets does not provide a decent variety of educational resources for its clients. These resources can be very helpful to beginners who are still learning their way around the industry.
It is also does not have a 24/7 customer support team. This is very important in the slight chance that a trader may have an emergency with their account in the middle of the night.
CMC Markets is an award-winning international broker that has provided its clients with a safe platform to perform forex trading. They have a significant number of financial instruments that are available to trade after a minimum deposit of $1. You can choose to trade on either their own proprietary platform or the popular MetaTrader 4. CMC Markets is one broker that we would definitely recommend trading with.