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CMC Markets review: Forex and CFD trading
Trade 12,000+ CFD products with competitive spreads across forex.
CMC Markets offers an award-winning trading platform with access to over 10,000 global products via CFDs, including shares, ETFs, commodities and forex. We take a look at the fees and features offered by its CFD platform. If you're looking for CMC Markets' share trading platform, you can check that out here.
With a presence in Europe, Asia, Australia, Canada and New Zealand, CMC Markets offers easy-to-use, intuitive trading platforms and a selection of competitive features. CMC Markets gives you the chance to trade CFDs on more than 9,000 global shares and ETFs, with commissions as low as 0.08% (for UK shares). Read on to learn more about CMC Markets' trading platforms.
Important
Trading CFDs and forex on leverage is high-risk and not suitable for all investors - you could even lose your initial investment. Always check the provider’s PDS and consider the risks before trading.
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Details
| Type of broker | Online |
|---|---|
| Available markets | 25+ currencies, cryptocurrency, indices, bonds |
| Minimum Spreads for Major Currencies | 0.7 - 1.5 pips |
| Commission | $0 |
| Minimum Trade Size | 0.01 lots |
| Leverage | 1:1 - 30:1 |
| Platforms | CFD Next Generation MetaTrader 4 |
| Support | Phone, email and live chat |
| Go to site More Info |
Our verdict
CMC Markets was founded in 1989 and is a well-established and highly trusted share, forex and CFD broker. Its CFD and forex brokerage pages are easy to use, intuitive and offer a range of competitive features. As it currently stands you can trade more than 12,000 instruments through its platform.
The broker would suit most types of traders, with strong educational resources for newer traders, right through to advanced features for those with a bit more experience.
Good for:
- Reputable provider. CMC Markets is a well-established broker that has been operating for more than 25 years.
- Trading options. You can trade over 12,000 products on markets around the world.
- Demo account. You can sign up for a demo account before you start trading with real money.
Not so great for:
- CFDs are risky. Make sure you're fully aware of these risks before you decide to start trading.
- Commissions on CFDs. CFD commissions aren't as low as some other brokers.
What can I trade with CMC Markets?
Your CMC Markets trading account gives you access to more than 10,000 global products via CFDs, including:
- Shares. Access over 9,000 global shares in more than 20 markets around the world.
- Indices. Choose from over 90 indices products, including the Australia 200, UK 100 and Germany 30.
- Commodities. More than 100 commodity products are available to trade.
- Forex. More than 330 currency pairs are offered to you through CMC Markets.
- Treasuries. Trade on over 55 treasuries products.
- Warrants. Invest in leading Australian companies and other underlying assets.
- Options. These can be used to earn income, generate wealth or even hedge your position in a falling market.
- Exchange-traded funds (ETFs). Access more than 1,000 ETFs.
- mFunds. The ASX’s mFund Settlement Service allows you to invest in unlisted managed funds.
- Managed funds. CMC Markets offers access to funds that cover all asset classes.
- Interest rate securities and bonds. These options offer a steady and secure form of investment.
Features of a CMC Markets trading account
- Market data. CMC Markets provides price data from markets around the world, including Canada, Germany, Switzerland, UK and US markets.
- Research. CMC Markets offers events and seminars, market reports, news and analysis.
- Access. Placing trades through your CMC Markets trading account can be done online, over the phone or using the CMC Markets app on iPhone, iPad or your Android device.
- Next Generation platform. CMC Markets’ Next Generation platform has been built to suit the needs of active traders. It offers advanced research and charting, unlimited free conditional orders and the ability to process orders in less than 1 second.
- Award-winning charts. The platform offers more than 115 technical indicators and drawing tools, 70 chart patterns and 12 chart types.
- Demo account. The free demo account allows you to practise trading before you commit to trading CFDs.
- Regulated in Australia. CMC Markets is regulated in Australia by the Australian Securities & Investments Commission (ASIC).
What trading platforms are available?
CMC Markets offers 1 platform for CFD and forex traders called the CFD Next Generation platform. It also has a separate platform for direct share trading which offers ASX and global stocks.
The Next Generation platform is web- and mobile-based and is available on compatible iOS and Android devices. It features more than 115 technical indicators and charts to help with your trading analysis, and a range of useful tools including the price projection tool and pattern recognition tool. You can also connect with other traders via the chat forum, an online trading community enabling you to discuss and share trading insights.
What support/information is available with a CMC Markets trading account?
If you need assistance with a particular trade or with any aspect of your CMC Markets account, it’s easy to get in touch with CMC Markets. Phone, email and live chat support are all available.
There are also plenty of educational resources to improve trading knowledge. These include instructional articles and videos, trading guides, a blog, events run by market experts and much more, plus a free demo account.
What fees will I pay?
When you trade CFDs or forex using a CMC Markets trading account, you’ll need to consider the spread, which is the difference between the buy and the sell price. In addition, you’ll need to consider the commission charge that applies to your trades. The minimum spread applied to a forex CFD is 0.7 points, with margins from 0.20%. Commission on share CFDs starts at 0.10%.
If you want to access CMC Markets’ price data for share CFDs, you may need to pay a monthly subscription fee. While no fee applies when you want to access US data, a $20 fee applies to Australian market data. Finally, keep in mind that holding costs may apply to positions that are held open at the end of a trading day.
How do I fund my account?
| Payment type | Payment type supported | Charge | Transfer time |
|---|---|---|---|
| Direct debit (debit card) |  | 0.6% of transaction | 1–2 days |
| Direct debit (credit card) | | 1% of transaction | 1–2 days |
| POLi | | No charge | Instant |
| Cheque |  | N/A | N/A |
| Cash | | N/A | N/A |
| AMEX / Diners | | N/A | N/A |
| Payment over the phone | Only available if your account is approaching margin call | As above | As above |
How do I apply for a CMC Markets trading account?
To apply for a Trading Account from CMC Markets, simply click the "Go to site" link on this page to be securely redirected to an online application form.
To apply for an account you will need to provide:
- Your name
- Your contact details
- Your tax file number
- Details of your financial background
Of course, it’s vital that you are fully aware of all the risks involved in trading CFDs before you sign up for an account.
Frequently asked questions
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.
