CMC Markets Stockbroking Account Review

Information verified correct on December 10th, 2016

Execute fast trades and take advantage of a host of award-winning features with a CMC Markets Stockbroking Account.

CMC Markets is a leading provider of online trading services with a successful history dating back more than 20 years. Using CMC Markets, you can trade a wide range of products including shares, CFDs, forex, indices, commodities, and treasuries just to name a few. In fact, in 2014 alone, CMC Markets was used to execute more than 33 million trades.

With a choice of trading platforms, CMC Markets customers can take advantage of a raft of useful features as part of their trading account. CMC Markets has also won multiple industry awards for features like customer satisfaction and overall value for money, marking it as a respected online trading provider.

If you’re looking to trade shares, CMC Markets can offer you the ability to execute fast trades, Australia’s lowest brokerage and a range of research tools. This article is a product review for CMC Markets share trading only.


What can I trade with a CMC Markets Stockbroking Account?

A CMC Markets Stockbroking Account lets you trade the following products:

  • You can trade Australia Shares. Access companies listed across the ASX and APX.
  • You can take advantage of IPOs and placements. The CMC Markets share trading platform gives you access to traditional and ASX Bookbuild IPOs and placements.

What are the features of this account?

  • You can up to date market data. 20-minute delayed market data is available for free, while live data is available for a $10 monthly fee (this is rebated if you make more than 10 trades a month). For dynamic data, a $41.25 monthly fee applies but will be rebated if you make more than 30 trades per month.
  • You have access to a range of research. CMC Markets offers a wealth of research tools help you make educated trading decisions. This includes course of sales information, market depth, independent research, a stock filter and more.
  • Trade through multiple channels. Trades can be placed online, over the phone or from a CMC Markets app on your Android or iOS tablet or smartphone. Live chat, phone and email support are also available when you need help.
  • Hedge your risks with order types. In addition to being able to place limit and at market orders, you can place unlimited free conditional orders through your CMC Markets Stockbroking Account in order to reduce your risk.

What account types are available with CMC Markets?

CMC Markets offers three membership options: Classic, Active Investor and Premium Trader.

Membership optionDescriptionTo qualifyBrokerage rates
Classic
CMC Markets’ standard platform with low brokerage fees and a host of featuresMake a maximum of 10 trades per monthFirst 10 trades: $11 or 0.10%
11th to 30th trade: $9.90 or 0.08% 31st+ trade: $9.90 or 0.075%
Active Investor
All the features of Classic plus free live data, free access to daily technical analysis emails and technical analysis data, and access to eScreener research reportsMake 11-30 trades per month OR Make more than 5 trades and incur more than $500 in brokerage per monthFirst 10 trades: $9.90 or 0.10%
11th to 30th trade: $9.90 or 0.08%31st+ trade: $9.90 or 0.075%
Premium Trader
All the CMC Markets Active Investor features plus free live or dynamic data, exclusive access to CMC Premium Client events and educational resources, free tax and portfolio reportingMake more than 30 trades per monthAll trades: $9.90 or 0.075%

What support and information is available with a CMC Markets Stockbroking Account?

If you need assistance with your CMC Markets Stockbroking Account, you can contact CMC Markets to speak with an experienced representative. Support options include phone, email and live online chat.

A wide range of education resources is offered online, including webinars, trading guides, videos and instructional articles. While many resources are available for free, Premium Trader customers get access to the full range of educational resources.

Fees when using a CMC Markets Stockbroking Account

As you can see in the table above, the brokerage fees charged by CMC Markets depend on your membership tier, but they can be as low as $9.90 or 0.075% (whichever is greater) for online trades. However, phone trades will incur a brokerage fee of $59.95.

The other fees you will have to contend with concern your access to market data. While 20-minute delayed market data is available for free, customers can also choose live data ($10 per month) or dynamic data ($41.25 per month). However, as the table above demonstrates, these monthly fees will be rebated if you make a certain number of trades each month and move up through the membership tiers.

What are the pros and cons about a CMC Markets Stockbroking Account

The pros

  • You can look forward to low brokerage fees. With brokerage from as low as $9.90, CMC Markets offers an extremely affordable service.
  • Its an award-winning provider. Head to the CMC Markets website to see a full list of the industry awards it has won.
  • There's a wide range of trading options. CMC Markets allows you to trade a wealth of products and tailor an investment strategy to suit your needs.
  • You can execute fast trades. CMC Markets Stockbroking Account trades are executed in less than one second.

The cons

  • Hefty phone brokerage fee. Like many other online trading platforms, CMC Markets charges a sizable phone trade brokerage fee of around $60. Make sure you’re aware of this fee before you place a trade over the phone.

How do I apply for a CMC Markets Stockbroking Account

If a CMC Markets Stockbroking Account offers features that interest you, click ‘apply now’ to be securely redirected to an online application form.

Before you start the application process, make sure you have the following information handy:

  • Your personal details
  • Your tax file number
  • Your driver’s licence number
  • Your linked bank account details

Your questions answered about CMC Markets

Can I open a joint account?

Yes, CMC Markets offers a joint account option.

Can I try an account before I buy?

Yes, CMC Markets offers you the option of opening a free trial account so you can sample the features and benefits it offers.

How do I know which membership tier I qualify for?

Every time you log in to your CMC Markets account, a pop-up window will confirm which tier you qualify for in that month. An email alert will inform you when you change tiers.

How can I get access to free market data?

CMC Markets always offers 20-minute delayed data for free. Customers who make more than 10 trades a month can enjoy access to free live data, while those who make more than 30 trades per month can take advantage of free dynamic data.

I’m going away on holidays and won’t be able to trade for a month - will I drop down a membership tier as a result?

If you call CMC Markets and inform them of your travel plans, they will make the arrangements for you to maintain your current account package.

Where does CMC Markets hold my money?

All money you deposit with CMC Markets is fully segregated with a leading Australian bank.

Does CMC Markets offer a CFD trading option?

Yes, if you wish to trade CFDs you can use CMC’s Next Generation CFD trading platform.

How many conditional orders can I place and how much will they cost?

CMC Markets offers you the ability to place an unlimited amount of free conditional orders.

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12 Responses to CMC Markets Stockbroking Account Review

  1. Default Gravatar
    Ken | September 9, 2016

    Do you have access to the AIM section of the London Stock Exchange? If not, can you refer me to an Australian broker who can trade on AIM?

    • Staff
      Shirley | September 19, 2016

      Hi Ken,

      Thanks for your question.

      Unfortunately we’re not aware of any online share trading platforms that provide access to the AIM.

      In this case, you may want to utilise the services of a financial planner, who should have this information readily available.

      Hope this helps.

  2. Default Gravatar
    Anna | August 22, 2016

    Can I switch shares within the same trading day? Eg. Sell 10k worth of XYZ share and buy 10K worth of ABC on the same day. What is the settlement period?

    • Staff
      Clarizza | August 29, 2016

      Hi Anna,

      Thanks for your question.

      Yes you can day trade, however you will need to speak directly to CMC to discuss your options. Please note, we are a comparison site and as such provide general advice only.

      Regards,
      Clarizza

  3. Default Gravatar
    Rocky | July 4, 2016

    Can I pay a monthly fee (e.g. $300) to ensure that I am always in the Premium Trader tier?

    • Staff
      Clarizza | July 6, 2016

      Hi Rocky,

      Thanks for your question.

      Each tier has criteria that you must meet to be able to trade and receive benefits from trading in that tier. To qualify for the Premium Trader tier, you must make more than 30 trades per month. If at any time you’re unable to maintain your account, you can contact CMC direct to discuss options.

      Hope that helps.

      Clarizza

  4. Default Gravatar
    Robles | June 24, 2016

    Hi, I am a temporary resident(aka. an Australian resident for tax purposes),and I will pay a visit to Australia soon.And can a non-resident Alien like me to open an Stockbroking Account?If YES,what kind of data,document or identification is required to open account?

    • Staff
      Shirley | June 28, 2016

      Hi Robles,

      Thanks for your question.

      If you want to open an account in Australia, you will need to provide Australian documents such as your driver’s licence number, Australian residential address and Tax File Number.

      If you can supply all of these then you can proceed to an application.

      For Taiwanese residents, you can open a CFD account only with CMC markets.

  5. Default Gravatar
    Peter | June 18, 2016

    Hi!
    I would like to trade US mining shares.
    Do you provide access to US market?

  6. Default Gravatar
    cassonbloodstock | November 15, 2015

    I would like to be able to view my balance on my account on line, instead of phoning all the time.

    • Staff
      Belinda | November 16, 2015

      Hi Cassonbloodstock,

      Thanks for your comment.

      finder.com.au is an online comparison website so we don’t represent CMC Markets or their products. However, I can confirm that as long as you have an internet connection you can view your balance online.

      Simply log in to your CMC Markets Stockbroking account, and you’ll be able to see what shares you’re holding, how much cash is in the account, and all other account details. If you have any issues accessing this information, please contact CMC Markets Stockbroking directly.

      Thanks,
      Belinda

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