Though CMC Markets came into existence in 2005, the older firm called “Currency Management Corporation” was born in 1989. Peter Cruddas – the well known entrepreneur has managed to grow the business from just dealing in Foreign Exchnage, to offering a wide range of products including Spread Betting and CFD.
Features of Trading Platform
CMC is one of the few companies whose trading platform is available in many formats.
Users can spread bet on three different platforms. The Web platform makes it easy for users to access their accounts and bet anywhere at any time. The Desktop platform provides more in depth functionality such as advanced charting tools as well as analysis and commentary.
Those on the move can also use the mobile software to place single click orders as well as monitor their existing positions.
The brand name is Marketmaker. They were the first company to offer a web based trading platform which many have copied till date.
The Desktop version which is meant for professionals allows users to create their favorite layout as well as keep track of real time time prices 24 hrs a day. It also includes a professional charting tool for advanced technical analysis. In addition, CMC Market Plus+ is a service where professionals provide market commentary and which allows CMC users to discuss various issues with forum members.
CMC Markets allows users to spread bet over six different markets – Indices, Currencies, Shares, Commodities, Treasuries and Sectors. Not many firms give users such a wide choice of markets including sectors and indices. The sector market is specially useful for those who have a macro view on a industry trend.
CMC markets have an incredible depth of coverage. Some spread betting firms for example, don’t cover companies which trade below a certain market cap, which can limit an investor from trading small cap. martkets. CMC have a comprehensive list of markets and products to chose from which makes it very appealing to sophisitacated investors.
Though they don’t have the tightest spreads in the industry, they offer some of the lowest you’ll find anywhere else. In addition, they differ from all other firms in that they charge no commission or account management fees whatsoever! They also allow users to take on low bets – as little as £1 in fact.
Shares Magazine has awarded CMC Markets with the “Broker of the year” and “Product of the year” awards in 2008. They also won the “Best active trading service” award from Money AM in 2009.
CMC markets differentiates itself from the competition by not charging commissions and by offering easy access to its award winning platform. They tilt towards newbies with their lower account opening deposits (£200) and their low trading limit.
However if you need lightning fast trades, no re quoting and free guaranteed stops, there are other spread betting firms that provide this – but CMC markets does an excellent job overall.
Support Opening Hours
They offer 24 hr support through from Sunday night to Friday night which is a bonus for those needing such support.
CMC Markets supports nine languages – English, German, French, Spanish, Italian, Swedish, Chinese, Japanese and Taiwanese. They have a local presence in 17 countries. However, since the tax free status of spread betting profits are unavailable outside UK and Ireland, they only allow people from outside those countries to open CFDs.
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