CMC Markets Review 2024 - Is it a Scam? Fees, leverage, minimum deposit

The company was founded in 1989 by Peter Cruddas in London. Based in London, CMC (Currency Management Consulting) Market is regulated by the UK Securities and Exchange Commission (FCA).

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The advanced broker, which made the world's first foreign exchange trading platform available on the Internet in 1996, has been trading CFDs since 2000 and now operates and maintains offices in the UK, Ireland, Austria, France, Germany, Italy, Norway, Spain, Sweden, Canada, China, Japan, Singapore, Australia and New Zealand.

CMC Markets is a classic broker offering Forex and CFD trading. In contrast to other brokers, CMC Markets only offers its own"Next Generation" trading platform, which can be set in a variety of ways and is also available for mobile trading. In CFD trading, traders can choose from around 5,500 different products, including government bonds, listed companies, currencies and commodities. The trader has to pay a fee of between 0.08 and 0.18 percent for trading. Trading in German stocks and DAX stocks is generally at the lower end of this range.

The broker CMC Markets offers its clients CFD trading on more than 320 currency pairs. CMC Markets is committed to transparency with its clients and therefore updates its spreads on the CMC Markets website on a weekly basis.

For major currency pairs, the margin in Forex trading is 0.2 percent, which corresponds to a leverage of 500:1.

Good support increases the trust a customer, especially newcomers to trading, places in a broker. CMC Markets has a lot to offer in this area. In addition to the website written entirely in German, the broker also offers its customers a German-language customer service, which can be reached via telephone, e-mail or live chat. The telephone hotline is free of charge within Germany and can be reached from abroad at normal rates, so that costs are kept within reasonable limits. Questions concerning plant consultation are not answered by the support, since a consultation in this regard is not intended, but a free consultation to the commercial offer and the commercial platform is natural both on the telephone, as well as by E-Mail or in the live Chat of the support coworkers and the questions are answered fast and uncomplicatedly. In addition to personal support by phone, e-mail or live chat, the broker also provides CMC Markets with FAQ pages on its website, which can help to clarify some questions. German hotline Monday to Friday from 08:00 - 20:00 o'clock

Of course it is necessary to make a deposit before trading starts. Unlike other brokers, CMC Markets does not require its clients to make a minimum deposit, but clients should ensure that they have deposited sufficient funds to trade CFDs.

As with many other brokers, the payment is made to a bank account, which the customer must specify in advance. CMC Markets does not transfer the money to credit cards or other accounts other than the deposit. Each payment requested by a customer must be requested individually via the personal account. CMC Markets waives a minimum sum.

CMC Markets offers its clients full transparency, so that the trader always has all the information he needs at his disposal. A pop-up window appears when the website is opened, pointing out the risks involved in trading.

Although CFD trading involves a high level of risk, high profits can sometimes be made. However, traders need to keep a constant eye on prices and can use a real-time financial chart, for example.

Of course the customer can read the terms and conditions and FAQ's on the German website.

The clearly structured website offers visitors a clear and unambiguous overview. This creates initial trust, and the clear indications of security and data protection testify to the broker's willingness to openly confront his customers without becoming entangled in the confusion.

There is certainly room for improvement at CMC Markets in the bonus area. Neither new customer bonuses nor bonuses for existing customers are offered. Only occasional promotions are initiated by the broker and made available to the customer.

Since 2011, the"Next Generation" software developed by CMC in cooperation with Adobe has been available in Germany. The Next Generation platform offers customers the opportunity to trade in various trading instruments. This means that all orders are executed completely automatically. Trading is possible directly from the charts. Furthermore, the platform offers risk management with specific orders (take profit, trailing stop loss, stop loss, stop buy). A further advantage is that the customer has the possibility to choose between different layouts and options and thus create his "own" platform, which offers him various adaptations. Ten different chart types (for example Heikin Ashi and Point & Figure) are available and chart intervals between one second and one month are possible. Also the free recognition of chart patterns (such as wedges&shoulder, wedges, trend channels), current news, economic calendars and reports on technical analysis are part of the offer.

Access to the"Next Generation" trading platform is also possible with mobile devices. Apps for the most common systems (IOS and Android) are available. The apps offer the customers of CMC Markets extensive functions. This means that prices can be accessed in real time at any time, giving customers the opportunity to intervene immediately in market events. More than 20 technical indicators and ten drawing tools for course analysis are provided. In addition, up to four charts can be displayed simultaneously. The trading apps offer full access to the trading markets so that clients can follow or adapt their strategies and tactics while on the move.

CMC Markets offers its clients CFDs on indices, commodities, currencies, government bonds and equities in the form of cash and forward contracts. The offering includes more than 5,500 CFDs and over 300 currency pairs. The trading offer also includes trading with FX outright forwards and FX spots. Currency pairs can be traded on CMC Markets from a margin of 0.20 per cent and spreads start at 0.1 pips in forex trading. The tradable underlyings of CMC Markets are index CFDs, foreign exchange CFDs, commodity CFDs, equity CFDs and fixed income CFDs. Furthermore, the broker offers his customers different order types (market, limit, stop entry, take profit, stop loss, trailing stop).

A special feature of CMC Markets is the option to trade with unrealised profits. Trading without leverage or a freely selectable lever from 1 to 500 is also possible. CFDs can already be traded with an amount of one thousandth.

The demo account has a starting credit of 10,000 euros, which can be recharged if necessary. This gives the customer the opportunity to test his strategies and tactics with a relatively high level of commitment without risk. The differences to the live account are not so big - except for the customer sentiment, some patterns of chart pattern recognition and trading of stock CFDs almost all functionalities are available. The demo account is also available for an unlimited period of time and free of charge.

In addition to the demo account, the broker CMC Markets also provides its customers with extensive further training offers via its website. This gives customers the opportunity to choose between numerous training materials, training videos and webinars. Occasionally offered seminars round off the extremely varied offer of the broker.

CMC Markets' head office in London ensures that the broker is regulated by the Financial Conduct Authority (FCA). This does not justify any fears of customers or traders, as the British and German supervisory authorities are among the strictest in the world. Client funds are held at Deutsche Bank, which is linked to the Financial Services Compensation Scheme in addition to the German deposit guarantee scheme. This protects client funds up to GBP 50,000 and keeps them separate from company funds. (Read also CFD Additional Funding Obligation)

CMC Markets' review clearly shows that CMC is a broker that has been in the market for over 20 years and, according to CMC Markets, is also one of the largest market makers for CFDs worldwide. The numerous news and analysis tools, the large charting package in conjunction with the individually adjustable"Next Generation" trading platform offer customers a wide range of opportunities to participate in trading on the global market. The numerous options that are also available to customers in mobile trading paint a positive overall picture. The well-positioned training and education offer and the free, unlimited demo account with a starting credit of 10,000 euros are examples of the overall package that CMC Markets has put together for its customers.