Max. Leverage
1:30
for Forex

Minimum Deposit
$0
EUR/USD Spread
0.7 pips
Benchmark

CMC Markets is an online provider of spread betting and contract for difference (CFD) trading services. The company provides access to an electronic trading platform, through which customers can trade CFDs on forex, shares, indices, ETFs, bonds and commodities with competitive spreads.

CMC Markets was established in 1989 and operates across Australia, Europe, and Asia. They are regulated by ASIC, the UK’s FCA and are listed on the London Stock Exchange.

Our review covers the information you need to know about trading instruments, trading fees, customer support and deposit/withdrawal options at CMC Markets.

CMC Markets Review Summary
Broker Name CMC Markets Australia
Establishment Date 1989
Website www.cmcmarkets.com
Address CMC Markets Asia Pacific PTY Ltd, Level 20, Tower 3, International Towers, 300 Barangaroo Avenue, NSW 2000 – Sydney – Australia
Minimum Deposit $0
Maximum Leverage 1:30
Regulation ASIC, FCA, MAS, BaFin
Trading Platforms MT4 and CMC Markets Trader available on PC, Mac, Web, Android, & iOS
Visit CMC Markets

CMC Markets Pros

  • Regulated by ASIC
  • Offers a wide range of tradable instruments
  • Zero deposit and withdrawal fees
  • User friendly website and trader
  • Fast processing of deposits and withdrawals
  • No mandatory minimum deposit or withdrawal
  • Offers commission-free trading for most instruments

CMC Markets Cons

  • Customer support is not available 24/7
  • Charges commission fees for shares trading
  • Charges dormant account fees
  • Does not support MT5 platform

Can I trust CMC Markets?

CMC Markets is regulated by top-tier financial regulators in multiple jurisdictions, including Australia and the UK. The company is also listed on the London Stock Exchange (LSE) since 2016. These factors make CMC Markets trustworthy and have a low-risk rating.

CMC Markets is based in London. Some of their subsidiaries and the countries in which they are authorised are as follows:

1) Australian Securities & Investments Commission (ASIC): CMC Markets is licensed in Australia by ASIC as ‘CMC Markets Asia Pacific Pty Ltd’ to offer financial services with ACN 100058213, issued in 2002.

CMC Markets ASIC Regulation

2) Financial Conduct Authority (FCA): CMC Markets is regulated by the FCA as ‘CMC Markets UK Plc’ and authorised to offer financial services in the UK with reference number 173730, issued in 2001.

CMC Markets UK FCA Regulation

3) Monetary Authority of Singapore (MAS): CMC Markets is regulated in Singapore as ‘CMC Markets Singapore PTE. Ltd.’, and licensed to provide capital market services.

CMC Markets MAS Regulation

4) Federal Financial Supervisory Authority, Germany: CMC Markets is authorized in Germany as ‘CMC Markets Germany GmbH’, with an office in Frankfurt. They serve the European clients through the license in the EEA.

CMC Markets License in Europe

CMC Markets Leverage

CMC Markets offers 2 main account types to traders, which are Shares Trading and CFD Accounts. These accounts are offered as standard accounts for retail traders.

CMC Markets offers Professional Account status to clients, which provides additional features, and you can apply for it after meeting certain requirements.

CMC Markets demo accounts allow new traders to get familiar with the trading platform using virtual money before they put in their real money. No Islamic account options are available on CMC Markets.

Read below to find out more about the features of the various types of accounts on CMC:

CMC Markets Account Types

CMC Markets offers 3 main account types to traders, which are Spread Betting, CFD, and Corporate Accounts. These accounts are offered as standard accounts for retail traders.

CMC Markets’ Professional and Alpha accounts provide additional features, which you can apply for after meeting certain requirements.

CMC Markets demo accounts allow new traders to get familiar with the trading platform using virtual money before they put in their real money. No Islamic account options are available on CMC Markets.

Read below to find out more about the features of the various types of accounts on CMC:

Shares Trading Account

CMC Markets offers 2 types of Shares Trading Accounts; a Cash-settled account and a Margin loan account.

1) Cash-settled Account: This is a shares trading account that allows you to trade over 35,000 shares of companies in the US, UK, Canada, Japan and Australia. With the Cash-Settled Account on CMC Markets, you deposit funds into your trading account and use it to trade shares.

2) Margin Loan Account: This is a shares trading account on CMC Markets that allows you to trade over 35,000 shares of companies in the US, UK, Canada, Japan and Australia. With this account, you can trade shares by borrowing money from margin lenders and investing in the financial markets. You do not need to deposit funds into your trading account before you start trading.

You can integrate a margin lender to the CMC trader and use it to trade. The margin lenders approved by CMC Markets are Leveraged, St George Margin Lending and Suncorp Margin Lending.

CFD Account

CMC Markets offers 2 types of CFDs (Contract for Differences) account types to trader, they are CFD and Corporate Accounts.

3) CFD Account: CMC Markets CFD Account allows you to trade CFDs on foreign exchange currency pairs, indices, shares, treasuries and commodities.

No commission fees are charged when you enter or exit a trade with this account, except for trading shares, in which charges starting from $7 apply.

Spread fees on this account start from 0.3 points and you pay swap fees for holding a position open for more than 24 hours.

This account has no minimum deposit requirement, with a maximum leverage of 30:1 for retail clients and offers negative balance protection.

4) Corporate Account: CMC Markets Corporate Account allows you to register your business and trade on the platform as a corporate entity. You can trade financial instruments such as forex, shares, indices, commodities and treasuries with this account.

This account is not required to pay commission fees for trades except when trading shares in which case commission fees apply starting from $7. Spreads on the Corporate Account start from 0.3 points and the account incurs swap fees for holding a trade position open for more than 24 hours.

Corporate Accounts with a retail client status have a maximum leverage of 1:30 and no negative balance protection, so you can lose more than the amount invested.

5) CMC Markets Alpha: CMC Alpha is CMC Markets Premium Account status reserved for retail or professional clients. This account status gives you some extra benefits. You can get the Alpha status with CFD or Shares Trading Account after meeting the following criteria.

  1. You have spent at least $3,000 on annual brokerage
  2. You have $2.5 million or more in holding
  3. You have $1 million or more in international equity

The CMC Alpha offers a number of top-tier features, including priority customer support, a personal account manager, and a free premium Financial Times subscription. It also offers members access to a community of experts and discounts on spreads of up to 28%.

CMC Markets Premium Account

6) CMC Pro: CMC Markets Pro Account is designed for experienced traders who trade large volumes of financial instruments and want higher leverage.

The Professional Account on CMC Markets offers leverage of up to 1:500 for major forex pairs and indices, 1:200 for gold, 1:133 for other commodities, 1:20 for shares and 1:5 for cryptocurrencies.

To get CMC Pro Account, you need to apply to customer support after meeting one or both of the eligibility wealth criteria below:

  1. You have AU$2.5 million in net assets.
  2. You have had an annual gross income of at least AU$250,000 for the last 2 years.

You also have to qualify on sophisticated criteria by:

  1. Taking an online test to demonstrate your knowledge of financial markets trading.
  2. Show proof of placing at least 50 trades each quarter over the last 5 years with a notional value of $500,000

With the CMC Markets Professional Account, you also get a personal account manager and early access to CMC Markets’ new products and initiatives. You can also trade cryptocurrencies as a professional client.

You can apply to upgrade a Shares Trading or CFD Account to a Professional Account status, but you lose the negative balance protection available to retail clients.

CMC Markets Professional Account

CMC Markets Base Account Currency

When opening an account on CMC Markets you can choose from 2 currencies to serve as your base account currency including Australian Dollar-AUD and United States Dollar-USD.

All your trades, deposits/withdrawals will be measured in your base account currency.

CMC Markets Overall Fees

Fees on CMC Markets vary depending on your account type, tradable instruments and trade volume. Find an overview of the fees below:

Trading fees

1) Spreads: When you open trades on CMC Markets, you pay a spread fee, which is the difference between the bid and ask prices of instruments. Spreads on CMC start from 0.3 pips for most accounts.

Here are the minimum spreads for major currency pairs on CMC Markets:

Instrument/Pair Spreads
EUR/USD 0.70 pips
GBP/USD 0.90 pip
EUR/GBP 1.10 pip
Gold 0.3 pips

2) Commission fees: CMC Markets offers commission-free trading on all instruments, except shares. For opening/closing trades on shares, you will be charged a commission fee of $7 per round turn, which is subject to change based on the volume of trade.

3) Swap fees: Whenever you keep a trade position past the market closing time (5 PM New York Time), you incur holding costs also known as swap fees. Swap fees on CMC Markets depend on the trade size and whether your trade position was long (buy) or short (sell).

Holding costs can also be gained as profits if you are holding a short(sell) position. Any holding costs you have paid to hold a position will be added to your profit or loss at the time you close the trade. Swap fees are usually based on an interbank rate and a percentage of the trade value.

Non-trading fees

1) Deposit and Withdrawal fees: CMC Markets does not charge any fees for depositing funds to your account via PayPal or bank transfers, but credit card deposits attract a 1% merchant fee while deposits via debit cards attract a 0.6% merchant fee. Withdrawals on CMC Markets are free of charge. This applies to all account types.

2) Account Inactivity charges: If you do not place any trades on your account for a year, your account will be designated dormant and you will be charged £10 per month on any balance in the account. If you have no funds in your account, you will not incur any negative balance.

How to Open CMC Markets Account?

Follow these steps to open a trading account on CMC Markets.

Step 1) Go to CMC Markets website at www.cmcmarkets.com and click on ‘Create account’ on the top right corner of the homepage.

CMC Markets Australia Website

Step 2) Choose the account type you want to open, then enter your email address, create a password, select the trading platform you prefer and click ‘Continue’.

Account Types on CMC Markets Australia

Create Account with CMC Markets

Step 3) Provide your address, full name and phone number then click on ‘Create account’.

CMC Markets Accounts Creation

Step 4) Type in the verification code sent to your email and click verify to verify your email and proceed with the registration. You will be redirected to sign in to your CMC Trader platform.

Verify Email on CMC Markets

Step 5) When you first signup, you get a Demo Account, after you sign in to the Platform, click on ‘Open a Live Account’, then select ‘Apply Now’.

CMC Markets Live Account

Step 6) Select an account type (individual or corporate) and account currency, then click ‘Next’

CMC Markets Account Currency

Step 7) Provide your date of birth, driver’s license number, and answer the questions about your nationality and tax, provide your full address and click ‘Find Address’ then select your address from the options and click ‘Next’.

CMC Markets New Account Requirement

Trader Address on CMC Markets

Step 8) Answer questions about your employment status and financial background, then click ‘Next’.

CMC Markets Account Registration

CMC Markets Trader Financial Background

Step 9) Answer some questions to test your knowledge and experience of trading financial instruments, then click ‘Next’.

Traders Experience on CMC Markets

Step 10) After reading and confirming that you understand and agree to the terms, check the declaration box to agree with the Terms and Conditions and Privacy Policy. Then click ‘Submit’.

CMC Markets Privacy Policy

Click on ‘Continue’ on the ‘Thank you page that appears’

CMC Markets Account Application

Step 11) Upload documents to verify your identity and address. You can upload a driving license, bank statement, utility bill or other document that shows your identity and address.

Verify Account on CMC Markets

CMC Markets Deposits & Withdrawals

Deposit and withdrawal methods accepted by CMC Markets include cards, bank transfers, POLi, BPAY and PayPal. Find details of the deposit and withdrawal methods on the platform below:

What is the minimum deposit for CMC Markets?

The minimum deposit on CMC Markets is $0. This means that there is no mandatory meaning deposit amount, you can deposit any sum you want and start trading. Although the recommended minimum deposit is $100, it will allow you to place a sizable amount of trade.

How do I Deposit Funds to CMC Markets?

Step 1: Log in to your CMC Markets Dashboard, click on the ‘Funding’ tab on the left side menu.
Step 2: Select ‘Add Funds’ and choose a payment method
Step 3: Enter the amount you want to deposit and follow the on-screen prompts to complete your deposit.

CMC Markets Minimum Withdrawal

There is also no minimum withdrawal sum required by the broker, you can withdraw any amount you want as long as you have funds in your trading account.

While card withdrawals are processed within 1 hour, withdrawals to local bank accounts and PayPal take 1-2 business days to process and some card issuers may take up to 5 business days to process a withdrawal.

There is a withdrawal limit for card transactions, pegged at $40,000 per day, or its equivalent in GBP. The bank transfers option has no maximum withdrawal.

Note that you can only withdraw funds to cards if you have used cards to make deposits into your trading account. This condition does not apply to PayPal and bank transfers.

How do I withdraw money from CMC market?

Step 1: Log in to your CMC Markets Dashboard, click on the ‘Funding’ tab on the left side menu.

Step 2: Select ‘Withdrawal’, choose your preferred payment method and follow the on-screen prompts to complete your withdrawal.

Withdrawals initiated before 2 PM time are processed the same day.

CMC Markets Trading Instruments

You can trade over 10,000 financial instruments on CMC Markets, find a breakdown of the instruments below:

Instrument Availability Number
Forex Yes 330 currency pairs on CMC Markets (including majors, minors, exotics and forex indices)
Commodities Yes 100 spot commodities on CMC Markets (Metals, Energies, Agriculture, and Commodity Indices)
Indices Yes 80 indices on CMC Markets (UK 100, US NDAQ 100, Germany 40, Hong Kong 50 and others)
Shares Yes 9,500 shares on CMC Markets (including, Technology, Banking, ETFs, and Share baskets)
Bonds Yes 50 Bonds on CMC Markets (US and European bonds)
Cryptocurrencies Yes 22 Cryptocurrency pairs on CMC Markets (Bitcoin, Some Alt Coins, and Crypto Indices)

Financial Instruments on CMC Markets

CMC Markets Trading Platforms

Trading platforms supported by CMC Markets are:

1) MetaTrader 4: You can access the CMC Markets instruments on the MT4 trading application, available on the web, desktop, and mobile devices (Android & iOS).

2) CMC Markets Trader: This is a CMC Markets’ owned trading platform, available for trading with the broker. The platform can be accessed on the web and downloaded from the App Store and Google Play Store.

CMC Markets WebTrader

CMC Markets Australia Customer Service

CMC Markets Australia offers online customer support to traders via the following channels:

1) Live chat support: CMC Markets live chat is available for traders who have an account with the broker during working hours from Monday to Friday. The live chat can be accessed from the support tab on your dashboard or the website homepage.

When our team tested it, the wait time was less than 2 minutes and the answers to our questions were relevant, although the live chat agent left the chat abruptly.

CMC Markets Online Customer Live Chat Support

2) Email support: CMC Markets also offers email support to traders which is available for 24 hours on business days. When we tested it, and after several hours, we received no response.

The CMC Markets email address is [email protected]

3) Phone support: CMC Markets has phone support for clients that you can call on business days. The CMC Markets phone number for support is 1300-303-888.

CMC Markets Customer Phone Support

Do we Recommend CMC Markets Australia?

We recommend CMC Markets to traders because they are regulated Australia by ASIC and in the UK by the FCA. This means your funds are safe and protected.

The trading fees on CMC Markets are moderate and you do not pay commission on all instruments except shares, so if you do not trade shares majorly, you will enjoy overall commission-free trading.

The website of CMC Markets has easy navigation and UI/UX for traders and you can easily find information. Although the registration process is a bit long.

Although their customer support is not so prompt and is not available 24/7, they are responsive on business days.

There are other brokers who are regulated in Australia that you can try out, you should read our review again and check out the CMC Website to decide if they meet your trading needs.

CMC Markets Australia FAQs

Can I trust CMC Markets?

You can trust CMC Markets because they are regulated in Australian Securities and Exchange Commission (ASIC) and by FCA in the UK which is a Top-Tier regulator.

Is CMC Markets regulated in Canada?

CMC Markets is regulated in Canada as CMC Markets Canada Inc, by the Canad Securities Authority (CSA).

What can you trade on CMC Markets?

You can trade over 10,000 financial instruments on CMC Markets, including, forex, stocks, indices, bonds, cryptocurrencies, metals, energies, and agriculture commodities.

Visit

Note: Your capital is at risk

Note: We may earn a commission if you decide to sign up with the broker via the referral links in this review. This help us cover the expenses of running this website, but this does not affect our honest & transparent review process. Thanks for your support.