Our Review of CMC Markets UK plc
CMC Markets UK plc Review
CMC Markets UK was established in 1989 and has been working steadily to become a larger trading presence in many other parts of the world, including Australia and New Zealand, Asia, and Canada. They are proud to feature 100% instant execution of all trades and set risk management, which increases the chances that their customers will be able to to be successful.
There are only two different types of accounts that are able to be opened. The first is a live account, which enables people to deposit funds into their accounts and then start to trade on whatever markets they choose. The other type of account that is available is the demo account. The demo account is best for people who are just starting to trade because it allows them to experience the trading environment and make their own mistakes without ever putting any money on the line. It is essentially an account with training wheels that beginning traders can use to learn how the platform works, get better at analyzing market trends, and generally improve on their trading abilities. Accounts vary slightly based on the country in which the person lives that is filling out the application. Spread betting can only be accessed by those who are using accounts that are operating out of the UK and Ireland.
Commissions & Spreads
Spreads start from 0.7 pips. There are no commissions that are charged for any of the trades except for CFD trading. The country and market will determine the amount of money that is paid for the commission. It will usually range between 0.09 and 0.18. In the US, however, the commission is 2 cents per unit.
The platform that is used for this company is the Next Generation trading platform. It recently created a new type of order ticket that makes this platform easier than ever to be able to trade with. The new order ticket has the ability to switch between the buy and sell price within one click, to specify the take profit level by one or two points, and to change the rollover method. All of these make trading with the software even easier. The Next Generation trading platform can also be used on mobile devices, which allows for traders to continue to profit, even while on-the-go. Included with the software is a charting package that tracks all of the different market trends. This package has the potential to enable traders to make the best-informed decisions possible. These platforms can be used on devices that run iOS and Android operating systems.
Deposits & Withdrawals
Deposits can be made using all major credit cards, electronic transfers from banks, and wire transfers from banks. A withdrawal can be requested, which will then either be wired to the bank of the trader's choice or electronically transferred to a chosen bank. Occasionally, a withdrawal will take an extended period of time should the offices be particularly busy.
Customer support is available five days a week for twenty four hours a day. CMC Markets UK plc also has one of the largest, most comprehensive collection of materials that are designed to teach people who are just beginning to trade Forex how to be successful. All of the training videos are hosted by the star of Cold Feet, James Nesbitt. There is a video lecture course that is about 8 weeks long.
Regulators & Safety
CMC Markets UK plc is regulated by the Financial Services Authority, which is based in the UK. This regulatory agency makes sure that all of the guidelines set by the government are followed. Any deposits are secured so that investors can feel confident that their money is being adequately protected. There have been no complaints with regards to the level of security that currently exists in CMC Markets UK plc.
The maximum leverage that is offered by CMC Markets UK plc is 500:1. Other, lower leverages are also available depending on the market that is being used.
Sign Up Bonuses (if any)
There are no sign up bonuses available at this time.