Read honest CMC Markets review and find out if this is a trusted broker!

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CMC Markets Review 2020

Regulated By: ASIC, FCA

Foundation Year : 1989

Headquarters : 133 Houndsditch, London

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

CMCMarkets.com Review Visit site

About CMCMarkets.com

CMCMarkets is a forex broker. CMC Markets offers the MT4, WebTrader and Mobile forex trading top platform. CMCMarkets.com offers over 325 forex currency pairs, cfds, commodities, stocks, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

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Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 300:1
Minimum to Open Live: $1
Established: 1989
Address: 133 Houndsditch London, EC3A 7BX, United Kingdom
Contact: [email protected], +44 (0)20 7170 8200
Regional offices:
Regulators:
Prohibited countries: Unknown

Yes

Yes

Trading platforms: MT4, WebTrader, CMCMarkets Mobile Trading App
Web Trading:
Mobile Trading:
Currencies: (330+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (9470+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bond Indexes, Oil, Other Commodities

Yes

Yes

EAs/Robots:
News Spike Trading:
Deposit Methods: Bank Wire, VISA, MasterCard
Withdrawal Methods: Bank Wire, VISA, MasterCard

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Consumer Reviews

I need help. I am having a tax issue in my country derived from trading activity on CMC Markets Market Maker trading activity dated December 2020 derived from the CFD VIX index instrument.

The difference relates to the number of CFD traded for a value amount traded of USD $ 1,293 for a VIX instrument index price in the market at $12,93 the unit but for purposes of the online MM platform, it seems it was priced at 1293. The issue resulted in a discrepancy in the amount of CFD behind the trade; if it is 1 or if it is 100.

It seems the MM for Chile -my country- the platform was set in a unique way as opposed to other international markets.
What I need is a Clients Daily Statement report showing a Vix instrument traded during December 2020. I do not need names or any confidential info, just how CMC priced the VIX index in your country to define the amount of CFD behind a trade.

Thank you very much for any help.
Please send same if possible

left identity check foot print on my credit history

I have not opened an account with CMC Markets and never will.
Typically for an Australian Professional Company, their highly decorated members display nothing but arrogance, that, if they say anything or reply to your inquiry after weeks.

Having said this, I do not give a dime whether an Aussie broker is regulated or not. Australia’s entire “system” is a scam and I don’t trust any of these people. All this “regulation” things in downunder is nothing but a money making scheme. Least they do is showing any interest in protecting a “commoner”.

Old English Royal system, speaks for itself. Id rather chose a Russian or Chinese regulated body, to be honest. Try to complain in Australia and see for yourself how you’ll end up.

Most of CMC’s entire business practice is based on dishonestly fleecing the retail trader. This has been the case since their ‘Deal4Free’ days back in the early year 2000 days.

CMC’s practices will make it difficult for you to ever be a profitable trader even after you move to another broker. CMC’s exploits occur at the most emotionally damaging times for traders and most traders will have a very difficult time freeing themselves of that CMC footprint after they move to a reputable, professional and honest broker. If you want to be a professional trader, look else where; if you want the Blackpool arcade experience then go for it.

everyone reading these reviews should first keep in mind the following: some ‘traders’ are not trading significant enough volume, meaning they trade so small, meaning, less than 10M notional, meaning, less than 100 standard lots (not mini, not micro, not, ****ing nano–standard lot = 100K notional), that execution with a ‘broker’ (read on to find out why i used quote marks here) will appear outstanding, and yet it means nothing when you reach a level where you can start making serious money, as in, making serious money like a pro institutional trader does.

when you do reach the kind of volume pros trade, typically >= 10M per ticket, your oh-so-great ‘broker’ suddenly doesn’t seem to give oh-so-great execution anymore.

so let’s look at the legal document (the PDS, aka Product Disclosure Statement) CMC is required by Australian law to issue publicly (and just because CMC also operates in other jurisdictions, don’t think for a second that it means they only operate like this in Australia; the business model is profitable whether in the UK or Australia, so why should they change it in the UK? the law does not require them to do so.)

so, without further ado, let’s delve into the PDS document, where we find the following sections:

section 2.2 Trading with CMC Markets is your red flag right there.

10.5 Risks associated with OTC derivatives

in section 10.5, we read that they do not guarantee that a client can close his/her open position(s). the doc is full of legal loopholes like this gem: ‘in certain circumstances’. and so since they control everything, they can always claim that there were ‘special’ circumstances that prevented their platform from allowing clients to get out of losing positions. how convenient when they are on the other side of your trade. and there is nothing you can do about it because you agreed to the terms in this and other documents when finalizing your account opening.

they even stated in section 2.11 that the platform may freeze due to the tried-and-true legal loophole of ‘Circumstances Outside Our Control’.

section 4.3 Prices generated by the Platform clearly tells you that they make the prices they want and you should not expect that CMC prices match the prices in the real market. is there any possible way they could make it more clear to you that you are going to be a nice revenue stream for them, not you?

section 4.4: ‘Whilst these rates will take into account market data from various sources, you should note that THEY ARE NOT TAKEN DIRECTLY FROM ANY SOURCE, AND THEREFORE MAY NOT MATCH CURRENCY CONVERSION RATES THAT YOU SEE ELSEWHERE.’ [emphasis mine]

section 10.6 speaks for itself: “10.6 We act as a market maker”.

section 10.8 talks about conflict of interest where they state that they or associates might be have a material interest in any position the clients enters with CMC, etc. the usual ‘we trade against you, or front run you (go in the same direction) if it suits their bottom line)’.

further, section 10.8 states: ‘CMC Markets is a Product issuer, NOT A BROKER.’ [emphasis mine]

THEREFORE, clearly, CMC is NOT a broker.

you can find CMC’s PDS here–read it: http://www.cmcmarkets.com.au/sites/default/files/CMC_AUS_PDS_NextGen%2029032020.pdf?_ga=1.27723196.1682065883.1489187115

it is the greatest mystery in the universe that people keep opening accounts to them and giving them their hard-earned money. is this or is this not the height of human stupidity??

i got 1 last word of advice for you all: if you are gonna trade, at least trade in a real market. SPOT Forex on an institutional ECN or currency Futures and other Futures on the CME.

CMC Markets

CMC Markets Reviews and Ratings:

User Rating:
Website https://www.cmcmarkets.com/
Live Chat NO
Telephone 44 (0)20 7170 8200
Broker Type Market maker
Regulations IIROC, CIPF, FCA, ASIC
Min Deposit $200.00
Account Base Currency USD CAD AUD EUR GBP
Max Leverage variable
Trading Platforms CMC Markets Platform, Mobile trading
Markets Forex, Indices, Commondities, Shares, Treasuries, CFD’s
Bonus Offered NO
Funding Options Credit/Debit cards, Bank wire
US Clients? NO

CMC Markets

The popular CMC Markets broker was founded in 1989 in the UK, regulated by the FCA in the UK and a license in New Zealand. The brokers offer a large list of forex pairs for trading, and are regulated in Australia and Canada as well. It has 14 offices around the world. Clients enjoy near real-time indicators and excellent platform tools for trading.

Account: Standard live accounts and demo accounts are available. The demo account comes with £10,000 of virtual currency to begin honing trading skills with. Corporate accounts are available. Spreads start at 0.7 points and typically average at 0.8 pips. There are cash rebates for high volume traders. Accounts are automatically executed with no dealer intervention. As many as 320 currency pairs are up for trading.

Minimum deposit: $200

Features: CMC Markets offers their own trading platform, which can be downloaded or run on the browser as a WebTrader. However, the browser-based web platform is Flash based, which can be a letdown for some users. Also, Meta Trader 4 is not offered. The broker’s own Next Generation trading platform is powerful with several unique tools that will help beginner and advanced traders customize their trading experience. Order types include limits, stops, GSLO and more. Module linking feature lets users connect windows on a layout for convenience. The Portfolio Mixer lets you create a NAV-based basket of holdings. 69 indicators help with better trading strategies.

Education: Educational tools including FX Calculators, research, market analysis and more.

Deposits/Withdrawals: Deposit and withdrawal methods including credit and debit cards, and bank wires. Withdrawals can be made on the same day for requests before 11 am (non-UK withdrawals) or 2 pm (UK withdrawals.)

Customer service: Support available through phone, email, live chat and social media.

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