A CMC Markets Review: Pros and Cons.
CMC market is one of the famous brokers that focuses on maximum coverage of trading assets which many investors and traders are using. They are regulated by FCA (UK Financial Conduct Authority) and founded in 1989. People are attracted to it because they are providing direct access to trading at global bank prices along with risk management programs. But is CMC markets a good option for you?
Here in this article we will give you a detailed CMC markets review, its pros and cons, and if it’s the best forex brokers?
CMC Markets forex broker provides you with trading assets having maximum coverage. They are providing you trading with a minimum deposit of 1$ with leverage rate of 1:500. Whether it’s currencies or stocks, it covers everything. They are providing high security and components to their traders. They are using MetaTrader 4 and mobile as trading terminals. CMC brokers are considered as reliable brokers. Here is why:
- They have 57,000 clients worldwide who are trading with CMC markets.
- They have won over 50 awards.
- They are experienced and professional in trading.
- They have been well known since 1989.
Here is a list of pros and cons of the CMC Markets banking system you might need to know before signing up with them.
Pros of CMC Markets
CMC Markets are offering plenty of pros to their traders:
Online educating system:
CMC markets are providing online training and educating videos. Even if you are not professional enough you can learn and trade on this broker.
Demo accounts availability:
They are offering demo accounts for beginners. Even they provide you with fake money to learn and practice trading.
Minimum spread option:
They are providing trading with a minimum leverage rate of 1:500. Which makes it beneficial for traders.
Bonuses for traders:
CMC markets provide several bonuses for their professional traders when they are trading with them.
Security and protection for their investor:
BCMC Markets have been offering their services for over 30 years now and they are well known for providing security and protection to their traders’ investment.
Licensed trader broker:
They are licensed by the UK regulators. A company with a regulator provides beneficial goods to traders and their trading business.
Customer support services:
CMC Markets are providing customer support for 24/5. You can contact them by their phone numbers or email. They are available all the week except weekends.
Quick withdrawal of money:
Offering quick withdrawal options. You can even get your money the same day if you submit your request by 14:00 (GMT+1). Bank transfer, master card can be used for withdrawal or payment methods.
Cons of CMC Markets
Along with the pros they also have some cons:
Limited withdrawal methods:
CMC markets offer you with limited withdrawal and deposit methods. Only bank transfers and visa cards are available for depositing or withdrawal of money.
They are providing a very limited amount of information. No knowledge related to the minimum startup amount is given on the website.
If you want to trade in more than one asset you must need multiple accounts for them.
No insurance for retail trader:
Company is not providing insolvency insurance to retail traders. It is difficult for traders to contact the regulator if there are any controversial issues.
They are not available on weekends. CMC markets are providing customer support only 24/5. So if you face any difficulty during weekends they are unavailable.
CMC markets don’t provide any deposit bonus to their traders. Other types of bonuses are available but there is no such deposit bonus.
|Provide Online education system||Limited withdrawal option|
|Demo accounts are available.||No deposit bonus|
|Minimum spread rate||Limited availability|
|Bonuses are present for traders||Not enough information on website|
|Security and protection||Multiple accounts are required|
|Licensed broker||No insurance for retail trader|
|Quick withdrawal options|
Everything does have pros with their numbers of cons. CMC markets do have their own pros and cons as well. You can make a selection according to your choice. CMC market is quite a good option for you if you focus on their Pros.