CMC Markets Stockbroking Account review
Execute fast trades with brokerage fees starting from $9.90.
If you’re looking to trade shares, CMC Markets can offer you the ability to execute fast trades with low brokerage and a range of research tools. This article is a product review for CMC Markets share trading only.
AUD 11 or
Standard brokerage fee
London Stock Exchange
Hong Kong Stock Exchange
|Type of broker||
Exchange traded options
Exchange traded funds
London Stock Exchange
Hong Kong Stock Exchange
AUD 11 or
What can I trade with a CMC Markets Stockbroking Account?
You can invest in the following products with a CMC Markets Stockbroking Account:
- Australian shares. Access companies listed across the ASX, SSX and Chi-X.
- International shares. Access 11 major exchanges including US, Canadian and UK markets. You can trade both international and domestic shares using the same account.
- Funds and options. Diversify your portfolio by investing in other popular products such as managed funds (mFunds), exchange traded funds (ETFs), Options and more.
What are the features of this account?
- 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 can also subscribe to live US market data for $11 per month.
- You have access to a range of research. CMC Markets offers top quality research tools help you make educated trading decisions. This includes company information, market depth, independent research and daily analysis from in-house analysts.
- 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 option||Description||To qualify||Brokerage rates|
|CMC Markets’ standard platform with low brokerage fees and a host of features||Make a maximum of 10 trades per month||First 10 trades: $11 or 0.10%|
11th to 30th trade: $9.90 or 0.08% 31st+ trade: $9.90 or 0.075%
|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 reports||Make 11-30 trades per month OR Make more than 5 trades and incur more than $500 in brokerage per month||First 10 trades: $9.90 or 0.10%|
11th to 30th trade: $9.90 or 0.08%31st+ trade: $9.90 or 0.075%
|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 reporting||Make more than 30 trades per month||All 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 range of educational resources are 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 depends on your membership tier, but they can be as low as $9.90 or 0.075% (whichever is greater) for online trades. Phone trades will incur a brokerage fee of $59.95.
If you have any remaining funds after trade sitting in your CMC Account (which sits with Bank West), you'll be charged an annual broker service fee of 1%. Bank West also charges an account fee of 0.75% for any funds of less than $10,000. So if you have less than $10,000 in the fund, you're charged 1.75% p.a.
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 of the CMC Markets Stockbroking Account
- Low brokerage fees. With brokerage from as low as $9.90, CMC Markets offers a competitive service.
- Award-winning provider. Head to the CMC Markets website to see a full list of the industry awards it has won.
- Wide range of trading options. CMC Markets allows you to trade a full suite of investment products from shares to managed funds.
- Execute fast trades. CMC Markets Stockbroking Account trades are executed in less than one second.
- Hefty phone brokerage fee. CMC Markets charges a sizeable phone trade brokerage fee of around $60.
- Inactivity fee. If you don't make any trades for 12 months, you're charged a dormancy fee of $15 per month for AUD accounts.
How do I apply for a CMC Markets Stockbroking Account
If you'd like to sign up for a CMC Markets Stockbroking Account, 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