Is CMC MARKETS one of the best Australian Forex Brokers? We conducted an in-depth review in November 2018 to find out the answer and bring it to you!


Another complete and unbiased Review from Engine Forex

Established in 1989 and headquartered in London, UK, CMC Markets is one of the world’s leading Forex, CFD and stockbroking providers. Their Australia office is located in the heart of Sydney.

With experience spanning over 27 years, CMC Markets is one the world’s most recognised online brokers with offices in 14 countries around the globe. It holds a market-leading position in many countries, including Australia, and executes well above 66.8 million deals per year!


CMC Markets

Our Rating

The overall rating is based on review by our experts

7.5 3.8 1
  • Reliability 9 / 10
  • Spread 6 / 10
  • Customer Service 7 / 10
  • Offers 5 / 10
  • Speed of Execution 9 / 10
  • Uptime 9 / 10

CMC Markets - Overview

Trading Conditions

  • Max Leverage
    500:1
  • Platform
    CMC Makets_plat
  • Min Deposit
    $0
  • Spread
    From 0.7 Pips
  • Cuts out Dealing Desk
    No

Methods of deposit and offers

  • Deposit / Withdraw
    VISA , MasterCard Poli Bank Transfer
  • Welcome offer
    n/a
  • Rebates Engine Forex
    Coming soon!

Extras

  • Crypto
    n/a
  • Headquarter
    London with Sydney subsidiary

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT CMC MARKETS

In Summary

  • ASIC & FCA regulated
  • Extensive range of risk management tools
  • High-level web security

As a global market leader, CMC Markets takes security very seriously. Authorised and regulated by the Australian Securities and Investment Commission (ASIC) as well as the Financial Conduct Authority (FCA) of the UK, CMC ensures all client money is held safely in a segregated bank account and is never used for hedging or any other operational purposes.

In addition, CMC Markets provides an extensive range of risk management tools that can help traders to effectively control their trading strategy, manage trading risk, protect profits and limit losses. Guaranteed stop-loss orders are offered for a small premium.

CMC Markets’ stockbroking platform offers unlimited linked and conditional orders to ensure clients are able to better manage their entry and exit points.

CMC Markets provides an extensive range of risk management tools that can help traders to effectively control their trading strategy, manage trading risk, protect profits and limit losses. Guaranteed stop-loss orders are offered for a small premium.

Spreads Comparison

CMC MARKETS
60
PEPPERSTONE
100
THINK MARKETS
80
IC MARKETS
100
OANDA
60
PLUS 500
30

CHARGES AND MARGINS AT CMC MARKETS

In Summary

  • Spread mark-up or
  • Commission charge on share CFD trading
  • Up to 500:1 leverage

As is the case with all brokers, CMC clients pay a spread on every non-equity CFD and a commission on every equity CFD trade.

CMC Markets offers fairly low spreads, starting from 0.7 points (AUD/USD, for example) on Forex pairs with a 0.2% margin requirement.

Applying a market-maker model, CMC doesn't charge a commission on Forex or other non-share CFD trading but rather applies spread mark-ups. These replace commissions but compared to ECN or STP brokers, starting spreads are not as low and tight.

Equity CFDs are traded at the real market price, and CMC Markets takes a small commission per side starting from 0.04% for Norway and Sweden, 0.08% for Germany, UK and Switzerland, and 0.09% for Australia. Minimum charges for both online or phone orders start from AU$7 in Australia with a margin requirement of 5%.

Index CFDs start from 1.0 points with a margin per contract from 0.2% on Australia 200, UK 100 or Germany 30, as examples.

Commodity CFD spreads start at 0.3 points with a minimum margin requirement per contract of 0.5% on gold or 3% on natural gas, as examples.

CMC Markets also offers a range of treasuries including gilts, bonds, bunds and treasury notes. Margins start at 0.25% within minimum spreads of 1.0 pip.

TECHNOLOGY

In Summary

  • Excellent trade execution
  • Own proprietary platform
  • Stockbroking account option
  • Very flexible approach to trading

Unlike most of its competitors, CMC Markets does not rely on, or even offer, standard trading platforms such as MetaTrader 4 or cTrader; however, it has developed and offers its own trading platforms to its clients.

CFD account holders can take advantage of Next Generation, which is a very fast and reliable trading platform that is worth a try if you are an Australian Forex and CFD trader.

Regardless of whether you are a beginner or professional trader, the Next Generation platform offers a very flexible approach to trading, featuring some unique functionalities, tools and applications such as alerts, stock filters, the option to trade directly from charts, pattern recognition software and a large range of user interface options.

Holders of a stockbroking account can choose between two platforms: CMC Markets’ Standard Stockbroking Platform or their Pro Stockbroking Platforms. Both are packed with features and applications, but the distinct difference between the two is that clients can apply detailed customisation with the Pro Stockbroking Platform, as well as having the option to make use of more chart types and tools from the user interface.

The Standard Stockbroking Platform offers more tools than the Pro version, but it does not have any user interface options available. 

Regardless of whether you are a beginner or professional trader, the Next Generation platform offers a very flexible approach to trading, featuring some unique functionalities, tools and applications such as alerts, stock filters, the option to trade directly from charts, pattern recognition software and a large range of user interface options.

Execution of Speed Comparison

CMC MARKETS
90
PEPPERSTONE
100
THINK MARKETS
90
IC MARKETS
100
OANDA
80
PLUS 500
70

CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

AN OVERVIEW OF CMC MARKETS' CUSTOMER SERVICE AND CLIENTS

In Summary

  • 24/5 customer support
  • Global presence with solid client base
  • Premium client benefits
  • Corporate account option

With over 27 years of experience and more than 57,000 active clients worldwide, MCM Markets has a strong client base around the globe.

Offering professional 24/5 customer support via phone and email in 13 locations worldwide, Australian customers can get in direct contact the Sydney office, and CFD trading platform users can enjoy live support via the platform during market hours. This feature is not available on both of CMC Markets’ stockbroking platforms. 

For the more serious clientele, CMC Markets also offers a special VIP-like treatment to their premium clients: Once a client becomes a premium client, they have direct access to a dedicated, highly skilled member of CMC Markets’ Sales Trading Team that provides premium clients with dealing solutions, regular market insights, advanced trader education and exclusive invitations to industry-related events.

High-volume traders also benefit from a comprehensive reward program that includes monthly cash rebates in any asset class.

FOREX AND OTHER TRADING OPTIONS AT CMC MARKETS

In Summary

  • Over 10,000 tradable products
  • 348 currency pairs
  • 4,000+ shares
  • 116 indices CFDs

CMC Markets offers a total of  over 10,000 products, 348 currency pairs, 4,000+ shares, 116 index CFDs, 110 commodities as well as treasuries and countdowns.

Spread sizes on Forex CFDs start from 0.7 pips on AUD/USD or EUR/USD, and one can choose from more than 330 currency pairs including major, minor and exotic Forex pairs. The maximum leverage level on Forex pairs is 500:1.

Indices CFDs start from 0.3 points, and CMC Markets offers a maximum leverage of 100:1.

As one of the world’s and Australia’s largest CFD providers, CMC Markets offers clients the option to choose from more than 10,000 markets, Forex, global indices, shares, commodities and much more.

Trading options on indices include Australia 200, Wall Street, FTSE 100, Germany 30, and many more.

In addition to being able to utilise an extensive amount of commodities, from gold, silver and oil, to dozens of more commodity markets, CMC Markets clients can also deal on treasuries, binaries or countdowns.

SPECIAL FEATURES OF CMC MARKETS

In Summary

  • Market maker broker
  • Top-notch technology including own proprietary platforms
  • Leverage up to 500:1
  • Strong regulation

CMC Markets offers their very own, award-winning proprietary trading platforms.

Features include unique and powerful trading tools, advanced charting packages, robust risk management options and other functionalities.

Clients can also benefit from 100% automated execution without dealer intervention.

Competitive pricing and rates are available.

CMC Markets offers their very own, award-winning proprietary trading platforms that are highly intuitive and user-friendly.

Max Leverage Comparison

CMC MARKETS
500:1
PEPPERSTONE
500:1
THINK MARKETS
400:1
IC MARKETS
500:1
OANDA
100:1
PLUS 500
300:1

IN CONCLUSION

CMC Markets is one of Australia's leading online brokers with a solid reputation and a large product portfolio. Trading conditions and environment are excellent and their own proprietary platform is highly intuitive and flexible. It's ideal for both beginners and professional traders.