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CMC Markets Review 2024

Written by
Adam N.
Fact checked by
Updated
2d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
6,897 people chose this broker
Not available in United States; see best alternatives

Why choose CMC Markets

CMC Markets is a UK-based global CFD and forex broker, regulated by multiple top-tier authorities including the UK's FCA.

It has low forex fees and there is no charge for deposits and withdrawals. The web and mobile trading platforms are well-designed, highly customizable and rich with features such as an advanced order panel. Research and educational tools are also wide-ranging and sophisticated.

On the downside, stock CFD fees are high. The product portfolio covers only CFDs (forex, indices, commodities, shares, ETFs, bonds, and crypto for non-UK clients) and customer service, while helpful, is available only 24/5.

BrokerChooser gave CMC Markets a 4.5/5 rating based on analyzing 600+ criteria and testing via opening a live account.

BrokerChooser score
4.5 4.5 /5
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67% of retail CFD accounts lose money
Pros
  • Low forex fees
  • Great web and mobile platforms
  • Advanced research and educational tools
Cons
  • High stock CFD fees
  • Only CFDs are available
  • Customer support only 24/5

CMC Markets at a glance

🗺 Country of regulationUK, Australia, Canada, New Zealand, Singapore, Germany
🛡️ Negative balance protectionYes
💰 Apple CFD fee$23.4
💰 S&P 500 CFD spread0.6
💰 Inactivity fee chargedYes
💰 Withdrawal fee$0
💰 Minimum deposit$0
💵 Available base currenciesGBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD
💵 Conversion fee of deposits in non-base currency0.5% mark-up
💳 Deposit with bank cardAvailable
👛 With electronic walletNot available
🕖 Time to open an account1-3 days
🎮 Demo account providedYes
🛍️ Products offeredCFDs (forex, indices, commodities, shares, ETFs, bonds, and crypto for non-UK clients)
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Fees

Score: 3.7/5
CMC Markets has competitive forex and stock index CFD fees, and no fee is charged for deposits and withdrawals. However, stock CFD fees are high.
Pros
  • Low forex fees
  • No withdrawal fee
Cons
  • High stock CFD fees

We compared CMC Markets's fees with two similar brokers we selected, IG and XTB. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of CMC Markets alternatives.

Low FX fees

All fees are built into the spread, so there is no separate commission charged. For example, the EUR/USD spread is 0.7.

Broker
EURUSD spread
FX commission per lot
CMC Markets
0.7
No commission is charged
IG
0.6
No commission is charged
XTB
1.0
No commission is charged
CMC Markets forex spreads and commissions

Average index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.6.

Broker
S&P 500 CFD spread
CMC Markets
0.6
IG
0.4
XTB
0.6
CMC Markets index CFD spreads and commissions

High stock CFD fees

The commission for stock CFD trading is the following: $0.02 with a $10 minimum commission.

Broker
Apple CFD
CMC Markets
$10.1
IG
$15.1
XTB
$2.6
CMC Markets stock CFD spreads and commissions

Low inactivity fee, low withdrawal fee

CMC Markets charges no account, deposit, or withdrawal fees. However, there is a £10 monthly fee after 12 months of inactivity, unless you hold no funds in your account.

Broker
Inactivity fee
Withdrawal fee
CMC Markets
$0
IG
$0
XTB
$0
CMC Markets inactivity, withdrawal and other fees

Safety

CMC Markets is regulated by several financial authorities globally, including the UK's top-tier FCA. It is listed on the London Stock Exchange, which means additional transparency.
Pros
  • Majority of clients belong to a top-tier financial authority
  • Listed on stock exchange
  • Negative balance protection
Cons
  • Does not hold a banking license
Read more

Deposit and withdrawal

Score: 4.5/5
You can use multiple deposit/withdrawal options and CFD account base currencies. Both depositing and withdrawing funds is free.
Pros
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
Cons
None
Read more

Account opening

Score: 4.4/5
The account opening process at CMC Markets is fully digital and there's no minimum deposit.
Pros
  • Fully digital
  • No minimum deposit
Cons
None
Read more

Mobile app

Score: 5/5
The CMC Markets app shares the strengths of the web platform: a modern design with a strong order panel and search functions as well as safe two-step login.
Pros
  • User-friendly
  • Good search function
  • Good variety of order types
Cons
None
Read more

Desktop platform

Score: 5/5
CMC's 'Next Generation' platform has a clean and modern design, is highly customizable, and boasts an advanced order panel. Two-step authentication is available for login.
Pros
  • Two-step (safer) login
  • Good customizability (for charts, workspace)
  • Modern design
Cons
None
Read more

Product selection

Score: 2.5/5
CMC Markets offers an exceptionally wide selection of CFDs and forex pairs, but you can't trade other popular asset classes such as real stocks or ETFs (except for Australian clients).
Read more
“CMC Markets is great for advanced forex traders, because it has low spreads and a whopping 338 currency pairs. Those who want to trade stock CFDs should probably check out other brokers, as stock CFD fees are high at CMC Markets. I didn’t like the account opening process because the video identity verification was unpleasant.”

FAQ

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Author of this review

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Visit CMC Markets 67% of retail CFD accounts lose money

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