CMC Markets CFD Broker Review
CMC Markets CFD Broker Review – Overview
CMC Markets are a by word for trust and stability when it comes to retail trading, and there is no more reliable CFD broker out there. They have a massive presence, one of the best front ends, great spreads and a huge depth and breadth of market. They offer spread betting and share dealing as well and actually have an institutional arm. CMC Markets are a true financial services company and are run as such. As far as CFD trading goes, they have a very strong spread offering, a uniquely attractive front end and a rich history to keep you sleeping soundly, knowing your money is being looked after by sensible people.
CMC Markets CFD Broker Review – Products and Spreads
CMC Markets are locked in a constant battle with IG Index to offer the greatest product offering and the lowest spreads. To some extent it depends what you want to trade but you will always be getting a deal that is about the best on the market when you trade with CMC Markets. Major FX, predictably, is a strength, and indices and commodities all fare nicely.
Second only to IG Index in terms of breadth of products available, there are some notable exceptions such as Bitcoin. But, for depth they are great – you can trade 7 different types of coffee if the mood takes you. They don’t have some of the very small AIM shares, but neither do IG Index – Spreadex have that one wrapped up. But, in general, I’d be very surprised if anything remotely mainstream was not available to trade with CMC Markets.
CMC Markets CFD Broker Review – Interface and Platforms
Without a doubt, the Front End of CMC Markets is their true strength. It is not quite perfect, but it is as close as any broker on the market to being so. It is very clear, very pretty and very intuititve. There are more analytical aids, indicators, oscillators and pattern recognition tools on this platform than you could ever use, and all for free. You don’t have to go to an external vendor (such as Autochartist with IG Index) to get your charting software – it is all right there in their powerful platform.
CMC Markets are known for having just spent $100m upgrading their platform and it shows. I have spoken with them and the few irritations that remain e.g. not being able to pop out charts into seperate tabs, are due to be upgraded soon as well. This is a multi award winning platform that has basically everything you need and more besides.
CMC Markets don’t offer MT4, I am told because they believe their own platform to be superior, which is fair enough. You really won’t need to go third party if you trade with CMC Markets, unless of course you are using 3rd party plugins that require an MT4 account. If you are using EAs or other external software you may need MT4, in which case you will need to go elsewhere. If you are looking for one of the best Front Ends on the market, then you are in the right place.
Andrew Saks-Mcleod of Finance Feeds comment: “CMC Markets is at the top of the tree when it comes to sophisticated trading environments. The company is ultra-modern and has recently spent over $100 million on the development of its next-generation proprietary trading platform. Unlike many of its peers, CMC Markets offers an institutional service too.”
CMC Markets CFD Broker Review – Service
A pleasure to deal with, you have access to a personal account manager at all times. If you have a complaint you can call or email and are guaranteed a very quick response. The people you speak to are all knowledgeable and friendly. They really do appear to be a genuine customer service team, not a sales wolf is customer service clothing.
When you open an account you will quickly get a call, but this is low pressure and if you would rather not stop and chat they won’t keep hassling you. Very professional at all times, as you would expect from a venerable institution such as CMC Markets.
CMC Markets CFD Broker Review – Safety
FCA regulated and London based, with a long history and an institutional arm of the business – CMC Markets are part of the furniture when it comes to trading.
If you deposit with CMC Markets you would expect your money to be safe. Barring some wildly unforeseeable circumstance they are about as solid as can be expected from a broker, and of course are covered by the Financial Services Compensation Scheme up to £50,000 if something does go wrong.
CMC Markets CFD Broker Review – Conclusion
CMC Markets is a proper financial institution run by highly experienced people. They have a great platform, great spreads and a large amount of products on offer. They are a solid choice for anyone who wants to trade CFDs and you are guaranteed a good service. If you want to use MT4 then they can’t help you, but other than that there’s not a lot they don’t offer. Two Blokes Trading would happily recommend CMC Markets to a CFD trader with normal needs.