CMC Markets Review
CMC Markets is a financial derivatives dealer based in the United Kingdom. They began operations as a foreign exchange broker in the year 1989. In 1996 the broker started the first online FX trading platform in the world. Gradually CMC Markets has evolved into the one of the world's leading platforms for CFD, Forex trading and spread betting brokerage. CMC Markets executed more than 33 million trades for their clients all over the world in the year 2014 alone.This article will review the trading platform under the following subheadings:
1. Trading Platform:
The broker uses a trading platform known as the "Next Generation". It is a web based trading platform. The platform is a product of twenty years of experience in FX trading. The Platform also incorporates the latest innovation in online trading platforms. It is worthy of note that the platform received the award for the best trading platform of the year in 2013. The trading platform is fully customizable and has several incredible features such as Pattern Recognition Scanner, "autosaves", multiple time frame views, among others. The trading platform also has a version for iPad and iPhone users. Other features of their trading platform includes Client Sentiment Gauge, Boundary Spread Bets, Advanced order functionality and Reuters News.
2. Trading Market:
CMC Markets supports over 7000 assets in over thirty different markets for their clients to trade in. This includes spread bets including stocks, commodities and indices. When you register with the broker as a client, you are allowed to choose between two types of accounts. They are "Fixed Risk Account" and "Regular Account" Fixed Risk Account holders have the advantage of guaranteed stops which they pay an extra premium for. There is no minimum deposit requirement to open an account at CMC Markets, however a client must have a minimum deposit of $2000 before such a client can begin trading.
3. Commission and Spreads:
Trading costs and commissions varies with the type of product being traded. For forex trading, the minimum transaction cost for the EUR/USD pair starts from 0.7 points. As for CFD, traders have to pay a commission charge for any trade executed. The commissions payable by clients trading on CMC Markets varies from Country to Country.
4. Client's Education:
Education is one aspect where the broker is popularly regarded as being second to none. The broker has very impressive educational resources among which includes Precision Webinars. Precision Webinars provide clients with trading strategies and fundamentals to help enhance your trading. The precision webinars allows clients to learn key technical analysis as well as understand and use leading indicators to influence trade. The precision webinar demonstrated virtually all the most popular trade techniques via a live webinar on the Next Generation Platform. Another feature of their education is the Day Trader's Manual. This is a series of articles made up of guides on some important trading concepts and techniques of market analysis. Another education feature deployed by the broker to educate their clients is the CMC TV. The CMC TV provides a continuous source of ongoing content from London based analysts and market experts. There is also a trading strategy video available on their education blog that gives traders a basic strategy training as well as training on common trading mistakes to avoid.
5. Customer Service:
Their customer support representatives can be reached via E-mail, Fax, Telephone and Live chat. The customer support can be reached 24 hours in a day and seven days a week.
6. Deposit and Withdrawals Methods:
Clients trading on CMC Markets can perform account deposits and withdrawals via the following options namely.
(i) Credit and Debit cards which includes Mastercard, Visa and all UK issued Credit and Debit cards.
(ii) Bank Wire Transfers which could either be standard or express.
There is no deposit limit for opening an account however there is a deposit minimum limit of $2000 for trading with an account. There are no minimum or maximum withdrawal limits. However, all withdrawal requests are verified by phone prior to processing the withdrawal and transfer of funds.
CMC Markets provide Clients with an array of highly competitive spreads via a versatile and up-to-date trading platform that allows the trader to take advantage of several advanced trading features to optimize profits. Without trying to give a positive rating to the broker, the fact that CMC Markets is popularly acclaimed to be the broker with the highest commitment to Client education is one of the reasons the broker is one of the highest rated in the world.