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The WikiFX Score of this broker is reduced because of too many complaints!

CMCMarkets

Australia|Above 20 years|
Market Making(MM)|MT4 Full License|Global Business|Germany Retail Forex License Revoked|Suspicious Overrun|High potential risk|

https://www.cmcmarkets.com/en-au/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

CMCMarkets1-Canada

United Kingdom
MT4
5

Influence

AA

Influence index NO.1

Australia 8.70
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

5
Server Name
CMCMarkets1-Canada MT4
Server Location United Kingdom

Influence

Influence

AA

Influence index NO.1

Australia 8.70

Surpassed 32.31% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+43 (0)1 532 1349 0
kundenservice@cmcmarkets.at
https://www.cmcmarkets.com/en-au/
'Tower 3 InTernaTional Towers' Level 20, 300 BaranGaroo Avenue, SYDNEY NSW 2000

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+43 (0)1 532 1349 0

English

+1 866 884 2608

English

+33 (0)1 53 83 14 03

English

+49 (0)69 22 22 440 00

Other ways of contact

Broker Information

More

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WikiFX Risk Alerts 6
Previous Detection : 2024-07-21
  • The number of the complaints received by WikiFX have reached 11 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • GermanyBaFin (license number: 119430) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • FranceAMF (license number: 12333) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • This broker exceeds the business scope regulated by Australia ASIC(license number: 238054)Investment Advisory Licence Non-Forex License. Please be aware of the risk!
  • This broker exceeds the business scope regulated by Germany BaFin(license number: 154814)BaFin Non-Forex Licence Non-Forex License. Please be aware of the risk!

WikiFX Verification

CMCMarkets · WikiFX Survey
A Visit to CMCMarkets in Singapore - Office Found
Singapore

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CMCMarkets · Company Summary

Registered in Australia
Regulated by FCA, FMA, MAS, IIROC
Year(s) of establishment Above 20 years
Trading instruments forex, indices, commodities, cryptos and stocks, treasuries, ETFs
Minimum Initial Deposit $0
Demo account Yes
Maximum Leverage Information not available
Minimum spread 0.7 pips onwards for EURUSD
Trading platform MT4 and its own platform CMC Markets Invest.
Deposit and withdrawal method POLi, PayPal, credit and debit card, plus bank transfers. No cash or cheque.
Customer Service 24/5, phone number, address, live chat, social medias
Fraud Complaints Exposure No for now

What is CMCMarkets?

CMCMarkets is an established brokerage firm registered in Australia and regulated by FCA, FMA, MAS, and IIROC. With over 20 years of experience, they offer a wide range of trading instruments including forex, indices, commodities, cryptocurrencies, stocks, treasuries, and ETFs. Traders can access their services through the popular MT4 platform as well as CMC Markets Invest. CMCMarkets provides a flexible account structure with no minimum initial deposit requirement and offers a free demo account for practice trading. They have a strong customer support system, available 24/5, and provide various educational resources to assist traders in their financial journey.

General information

Regulation of CMCMarkets

CMC Markets is a globally recognized trading platform, rigorously regulated by several top-tier financial authorities including the Financial Conduct Authority (FCA) in the United Kingdom, the Financial Markets Authority (FMA) in New Zealand, the Canadian Investor Protection Fund (CIRO) in Canada, and the Monetary Authority of Singapore (MAS).

These regulations ensure that CMC Markets adheres to strict standards of market making and retail forex trading, offering a secure and transparent trading environment across multiple jurisdictions. This regulatory framework supports CMC Markets' commitment to providing safe and reliable trading services to its clients worldwide.

Regulation of CMCMarkets

Regulation of CMCMarkets

Regulation of CMCMarkets

Regulation of CMCMarkets

Regulation of CMCMarkets

Regulation of CMCMarkets

Pros and Cons of CMCMarkets

Pros of CMCMarkets:

  • Regulatory Compliance: Being registered in Australia and regulated by reputable authorities like FCA, FMA, MAS, and IIROC, CMCMarkets provides a sense of trust and security for traders.

  • Wide Range of Trading Instruments: With access to forex, indices, commodities, cryptocurrencies, stocks, treasuries, and ETFs, CMCMarkets offers a diverse portfolio for traders to choose from.

  • Flexible Account Options: CMCMarkets provides a variety of account types, including standard and alpha accounts, catering to different trading preferences and experience levels.

  • Free Demo Account: The availability of a free demo account allows traders to practice and familiarize themselves with the platform before risking real money.

  • Multiple Trading Platforms: CMCMarkets supports the widely used MT4 platform, known for its advanced features, as well as their proprietary platform CMC Markets Invest, offering versatility for traders.

  • Educational Resources: The company offers a comprehensive range of educational resources such as video tutorials, glossary, webinars, eBooks, podcasts, and news analysis to help traders enhance their knowledge and skills.

  • Customer Support: CMCMarkets provides 24/5 customer support through various channels, including phone, live chat, and social media platforms, ensuring prompt assistance and resolving queries effectively.

Cons of CMCMarkets:

  • Maximum Leverage Unknown: The lack of information regarding the maximum leverage offered by CMCMarkets can be a limitation for traders who rely on leverage as a trading strategy.

  • Limited Information on Spreads and Commissions: The absence of detailed information about spreads and commissions may make it challenging for traders to accurately assess the cost of trading on the platform.

  • Dormancy Fee: CMCMarkets charges a dormancy fee if there is no trading activity for 12 months, which may pose an additional cost for inactive accounts.

  • Merchant Fees for Deposits: Deposits made via credit or debit cards attract merchant fees, which can add to the overall transaction costs for traders.

  • Withdrawal Restrictions: The limitation on withdrawing funds only up to the initial deposit amount on the registered card may restrict traders' flexibility in managing their funds.

  • Limited Availability of Information on Leverage, Deposits, and Withdrawals: The provided information lacks specific details regarding leverage options, minimum deposit requirements, and withdrawal processing times, which may require traders to seek additional clarification.

  • Pros Cons
    Regulatory Compliance with FCA, FMA, MAS, IIROC Maximum Leverage Unknown
    Diverse Trading Instruments across multiple asset classes Limited Information on Spreads and Commissions
    Multiple Account Options for different trader needs Dormancy Fee for inactivity over 12 months
    Demo Account for risk-free practice Merchant Fees for card deposits
    Variety of Platforms including MT4 and proprietary platforms Withdrawal Restrictions to initial card deposit amounts
    Comprehensive Educational Resources
    Robust Customer Support available 24/5

Market Instruments

CMC Markets provides a diverse range of trading instruments to cater to the needs of different traders. With CFD trading, users have the flexibility to go long or short on a variety of assets including forex, indices, commodities, and cryptocurrencies. This allows traders to profit from both rising and falling markets, maximizing their trading opportunities. In addition, CMC Markets offers share investing, enabling users to buy and sell shares and securities across 16 markets. This allows for a comprehensive portfolio diversification and investment in different sectors and industries. Furthermore, CMC Markets provides access to treasuries and ETFs, allowing traders to trade and invest in these financial instruments.

 trading instruments

Spreads and Commissions

CMC Markets offers competitive spreads for major currency pairs, with a live spread form indicating indicative prices. However, it's important to note that spreads may vary, especially during volatile market conditions. The company adopts a transparent commission structure, with commissions varying depending on the specific instruments traded. Traders can refer to the provided information to determine the commission charges applicable to their trades. It is worth mentioning that commissions are subject to minimum charge requirements, such as the minimum commission charge of US$10 for US shares. Additionally, CMC Markets implements a dormancy fee for accounts with no trading activity for 12 consecutive months, based on the account currency. While this fee promotes account activity, traders who remain inactive may incur additional costs. Traders should carefully consider these factors and evaluate their trading strategies to effectively manage spreads, commissions, and other associated costs.

Account currency Monthly inactivity fee
AUD 15
USD 15
HKD 100
Country/market Commission charge Minimum commission charge
Australia 0.09% AUD 7.00
UK 0.08% GBP 9.00
US 2 cents per unit USD 10.00
Austria 0.08% EUR 9.00
Belgium 0.10% EUR 9.00
Denmark 0.08% DKK 90.00
Finland 0.08% EUR 9.00
France 0.06% EUR 5.00
competitive spreads

Trading Accounts

CMC Markets offers two live account types, Standard and Alpha, providing traders with options that suit their individual needs. The Standard account offers a unique advantage by providing zero brokerage fee for the first buy order up to $1,000. This feature allows traders to make their initial investment without incurring any brokerage costs. On the other hand, the Alpha account offers lower brokerage fees for most buy and sell orders, providing cost-saving opportunities for active traders. It is important to note that different account types may have specific eligibility criteria or minimum balance requirements, and traders should consider these factors when choosing an account type. Additionally, CMC Markets provides a free demo account, enabling traders to practice and familiarize themselves with the platform before opening a live account. Traders have the flexibility to select the account type that aligns with their trading preferences, taking advantage of the benefits offered by each option.

live account types

Trading Platform

CMC Markets provides traders with two platform options: MT4 and CMC Markets Invest. MT4 is a widely recognized and popular trading platform known for its extensive range of technical indicators and automated trading tools. It offers a user-friendly interface and provides access to a diverse set of features. On the other hand, CMC Markets Invest is a proprietary platform specifically designed for CMC Markets clients. It offers seamless integration with other CMC Markets services and features, providing a cohesive trading experience. While MT4 has a larger community and third-party plugins, CMC Markets Invest may have a learning curve for new users and a smaller community. Traders can choose the platform that suits their preferences, whether they prefer the familiarity and customization options of MT4 or the integrated features of CMC Markets Invest.

platform options

Maximum Leverage

The maximum leverage offered by CMCMarkets is currently unknown. While leverage can provide traders with several advantages, such as greater trading flexibility, potential for higher profits, increased market access, and enhanced trading opportunities, it also comes with certain disadvantages. One of the primary disadvantages is the increased risk exposure, as leverage magnifies both gains and losses. Traders need to exercise caution and implement proper risk management strategies to avoid significant losses. Additionally, the use of leverage requires a good understanding of the market and trading principles to make informed decisions.

Deposit and Withdrawal

The dimension of deposits and withdrawals with CMCMarkets offers several advantages and a few considerations to keep in mind. One of the advantages is the variety of funding options available, including credit/debit cards and bank transfers. The online withdrawal process is convenient, and funds can be withdrawn to registered credit/debit cards. Withdrawal requests are typically processed quickly, ensuring prompt access to funds. Additionally, the overall process is secure to safeguard user transactions.

deposits and withdrawals

Educational resources in CMCMarkets

The educational resources dimension at CMCMarkets offers a range of advantages to traders and investors. They provide a wide variety of educational materials, including videos, webinars, eBooks, podcasts, news, analysis, guides, and more. The availability of different formats ensures that users can choose the learning style that suits them best. Additionally, CMCMarkets has an official YouTube channel where users can find additional video content. The comprehensive resources, such as the glossary and FAQ section, help users understand key concepts and terms. The inclusion of news and analysis keeps users informed about market developments.

You may also visit their official YouTube channel to watch more videos. Here is a video about some basic knowledge that every trader should know.

educational resources

Customer service of CMCMarkets

The customer care dimension at CMCMarkets offers several advantages to users. Firstly, they provide 24/5 contact availability, ensuring that customers can reach out for support during weekdays. The dedicated phone lines for CFD and Share Trading inquiries allow for specialized assistance in each area. Multiple communication channels, including phone, social media platforms like Facebook, Twitter, LinkedIn, and YouTube, offer users flexibility in choosing their preferred method of contact. The convenient customer service hours for Share Trading align with market opening hours, enabling timely assistance. Additionally, the physical office address in Sydney provides customers with a sense of trust and security. CMCMarkets' active presence on popular social media platforms allows users to stay updated and engaged.

customer care dimension

Conclusion

In conclusion, CMCMarkets is an Australia-registered company that has established itself as a reputable and regulated broker in the financial industry. With over 20 years of experience, they offer a wide range of trading instruments, including forex, indices, commodities, cryptocurrencies, stocks, treasuries, and ETFs. Traders have the flexibility to choose from different account types and access their platform through MT4 or their proprietary platform, CMC Markets Invest. The availability of a free demo account and extensive educational resources further enhance the trading experience for both novice and experienced traders. Customer support is readily available through various channels, ensuring prompt assistance and resolving queries effectively. However, the lack of information on maximum leverage, detailed spreads and commissions, as well as certain fees like the dormancy fee and merchant fees for deposits, could be considered as limitations.

Frequently asked questions about CMCMarkets

  • How can I fund my CMCMarkets account?

  • You can fund your CMCMarkets account by using a credit or debit card or by transferring funds from your bank account. Please note that third-party payments are not accepted, and additional charges may apply for bank transfers from outside of Australia.

  • What are the trading platforms offered by CMCMarkets?

  • CMCMarkets provides two trading platforms: MT4 and their own platform called CMC Markets Invest. These platforms offer a range of features and tools to support your trading activities.

  • Is there a minimum initial deposit required to open an account with CMCMarkets?

  • No, CMCMarkets does not require a minimum initial deposit. You can start trading with any amount you are comfortable with.

  • Does CMCMarkets offer a demo account?

  • Yes.

  • Does CMCMarkets charge any fees for deposits or withdrawals?

  • CMCMarkets does not charge any fees for deposit or withdrawal operations. However, please note that payment systems may have their own fees, and internal currency conversion rates may apply.

News

Staff Cut: CMC Markets to Reduce Global Workforce by 17%

NewsStaff Cut: CMC Markets to Reduce Global Workforce by 17%

2024-02-06 15:59

CMC Markets plans a 17% workforce reduction for cost savings, anticipating £2.5m in costs this year, with a positive outlook driven by increased market volatility.

WikiFX
2024-02-06 15:59
News
Staff Cut: CMC Markets to Reduce Global Workforce by 17%
Sterling stabilises in 2023, as rate cuts move into view for 2024

NewsSterling stabilises in 2023, as rate cuts move into view for 2024

2023-12-27 16:29

After losing 11.9% of its value against the US dollar in 2022, 2023 has seen a period of consolidation for the pound, and a much more uneventful year than was the case in 2022 when we saw wild swings between highs of 1.3530 and a low point of 1.0350.

WikiFX
2023-12-27 16:29
News
Sterling stabilises in 2023, as rate cuts move into view for 2024
CMC Markets Invested in blockchain solutions company StrikeX Technologies

NewsCMC Markets Invested in blockchain solutions company StrikeX Technologies

2023-06-09 15:19

CMC Markets invested in StrikeX Technologies, a blockchain solutions company. StrikeX Technologies specializes in developing blockchain-based solutions for financial institutions and other industries.

WikiFX
2023-06-09 15:19
News
CMC Markets Invested in blockchain solutions company StrikeX Technologies
CMC Markets reports transactions in its shares by senior execs

NewsCMC Markets reports transactions in its shares by senior execs

2023-05-10 18:43

According to the report, CMC Markets Plc (LON: CMCX), a leading provider of online trading and institutional technology solutions, has recently announced that members of its senior management have acquired shares in the company under the CMC Markets Share Incentive Plan.

WikiFX
2023-05-10 18:43
News
CMC Markets reports transactions in its shares by senior execs

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