What We Tested
- Account type: Standard CFD Account ($1,000 starting balance for test)
- Platform: Next Generation (Desktop & Web)
- Trading period: 3 months, 80 trades executed
- Assets tested: EURUSD, GER40, US T-BOND, US Stocks
- Withdrawal tests: 2 successful (Bank Transfer, Credit Card)
- Support tests: 4 inquiries via phone and chat
Testing focused on the performance and stability of the proprietary Next Generation platform, particularly for execution on indices and non-Forex CFDs, where CMC is strongest.
Regulation & Safety
CMC Markets is publicly listed on the London Stock Exchange (LSE) and maintains compliance with top-tier regulators globally:
- FCA (UK) – Tier-1 regulation, FSCS protection up to £85,000. LSE listing ensures financial transparency.
- ASIC (Australia) – Tier-1 regulation, strong compliance.
- MAS (Singapore) – Tier-1 license in Asia.
- IIROC (Canada) – Regulatory oversight for Canadian clients.
Spreads & Execution
| Pair/Asset | Typical Spread (Points/Pips) | Commission | Notes |
|---|---|---|---|
| EUR/USD | 0.7 pips | $0 | Tightest available minimum spread |
| DAX40 (GER40) | 1.0 point | $0 | Fixed spread on indices is stable |
| Apple (Shares CFD) | 0.10% | Variable | Commission applies to share CFDs |
| XAU/USD (Gold) | 0.3 points | $0 | Competitive pricing on metals |
Spreads are dynamic but generally reflect institutional pricing within the proprietary platform. Commissions only apply to Shares CFDs.
Execution Quality (Tested)
- Execution Model: Market Maker / Hedged (NDD Hybrid)
- Platform Speed: Lightning-quick on proprietary platform due to London-based servers.
- Requotes: Extremely rare. Focus on guaranteed execution.
- GSLO (Guaranteed Stop Loss): Available with a premium (wider spread).
The execution is highly stable and professional, designed for reliability across thousands of instruments. While the model is hybrid, the quality is Tier-1, minimizing unexpected slippage.
Next Generation Platform (Award-Winning Technology)
CMC’s proprietary platform is the cornerstone of their offering, often ranked superior to MetaTrader in functionality and interface design:
- Integrated Tools: Includes client sentiment analysis, market pattern recognition scanners, and Morningstar equity research.
- Advanced Charting: Extensive range of indicators and drawing tools, with integrated TradingView charts.
- Order Flexibility: Highly customizable order types, including guaranteed stop loss orders (GSLOs).
- Mobile Experience: Optimized mobile app provides full functionality across iOS and Android.
This platform is a major advantage for manual traders, offering a level of integrated research and analysis rarely seen outside institutional terminals.
CMC Alpha Program (For High Volume Traders)
The Alpha program rewards high-volume traders with significant benefits:
- Requirement: Account value of £25,000 or equivalent ($30,000+) or high monthly trading volume.
- Spread Discounts: Tiered discounts up to 40% on spreads, significantly reducing trading costs.
- Priority Service: Dedicated account service and priority customer support.
- Interest on Equity: Earn interest on available cash equity in your account.
For traders generating over 100 lots per month, the Alpha program's spread discounts immediately place CMC's pricing among the most competitive ECN brokers globally.
Account Types & Fees
Standard CFD Account
- Min deposit: $0 (recommended $200+)
- Spreads: From 0.7 pips (markup included)
- Commission: $0 on Indices/Forex/Commodities
- Best for: Most retail traders and those using the Next Generation platform.
FX Active MT4
- Min deposit: $0
- Spreads: From 0.0 pips (raw spread)
- Commission: $4.00/lot RT (lower than average)
- Best for: MT4 EAs and scalpers seeking lower commissions.
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: $0 (all methods)
- Inactivity fee: $15/month after 12 months of no trading.
- Swap rates: Standard overnight financing applies.
- Shares CFDs: Commission applies (typically starting at 0.10% or min fee).
Deposits & Withdrawals (Tested)
Funding is straightforward and free from broker fees:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $500 | 1 business day | $0 | Fastest method |
| Bank Wire | $1,000 | 1-3 business days | $0 | Broker covers fees |
| PayPal | $200 | Same day (4 hours) | $0 | Available in selected regions |
Platforms & Tools
- Next Generation Platform: CMC’s flagship, award-winning platform (web/mobile). Offers advanced charting, client sentiment tools, and comprehensive risk management features.
- MetaTrader 4: Available for standard and FX Active accounts, supporting EAs and custom indicators.
- TradingView: Integrated charting directly into the Next Generation platform.
- Tools: Dedicated research reports (Morningstar, Reuters news) and integrated pattern recognition scanners.
Our Take: The Next Generation platform is one of the best proprietary platforms in the industry, offering functionality that rivals MT4/MT5. MT4 support ensures compatibility for algo traders.
Customer Support (Tested)
CMC Markets offers 24/5 global support:
- Live Chat: 24/5, average response time ~2 minutes, professional and detailed responses.
- Phone Support: Available globally with professional staff (tested and confirmed high quality).
- Email: Responses typically within 4-12 hours.
- Quality: Support is top-tier, matching the broker's institutional status. Complex queries about derivatives and fees were handled efficiently.
The 24/5 support is robust, and high-volume clients (Alpha members) receive dedicated priority service, which improves the overall experience significantly.
PROS
- Publicly traded (LSE) and Tier-1 regulated (FCA, ASIC)
- Award-winning Next Generation platform (excellent proprietary tech)
- Over 12,000 instruments available (market-leading range)
- Competitive FX Active account commission ($4.00 RT)
- Alpha program offers spread discounts up to 40% for high volume traders
- Free deposits, withdrawals, and reliable execution.
CONS
- Standard spreads (0.7 pips min EUR/USD) are wider than ECN rivals (0.1 pips)
- Inactivity fee applies after 12 months
- No MT5 support (only MT4 and proprietary platform)
- Next Generation platform has a steep learning curve for beginners
Who Should Use CMC Markets?
- Great fit: Professional traders, high-volume traders (seeking Alpha benefits), and those who value an immense market range (12,000+ assets) and the stability of a publicly listed broker.
- Good fit: Manual traders comfortable with sophisticated platforms and demanding advanced charting tools (Next Generation).
- Not ideal: Algorithmic traders who require MT5 support or ECN scalpers focused on the absolute lowest commission and spreads (use Fusion Markets or IC Markets).
Final Verdict
CMC Markets is a foundational broker in the CFD space, renowned for its 35+ year history and status as a publicly traded company on the LSE. This ensures unmatched trust and financial transparency.
Its key strength lies in its technology—the Next Generation platform is a market leader, offering powerful tools, advanced charting, and a seamless mobile experience. The range of 12,000+ instruments is exceptional.
While the standard commission-free spreads (0.7 pips minimum) are not the lowest available, the FX Active MT4 account offers a competitive $4.00 RT commission, positioning it well for serious MT4 traders.
For traders with high capital or volume, the Alpha program's tiered spread discounts make CMC one of the most cost-effective options in the Tier-1 regulated space.