CMC Markets review found that it was the top forex broker for intermediate forex traders. It offered high leverage, strong trading platforms and guaranteed stop-loss orders.
CMC Markets was not voted higher in our best Forex broker comparison because of its marginally lower spreads. This is especially noticeable when day-trading and using automation trading techniques. Also, Pepperstone and IC Markets had faster execution speeds which reduced slippage.
CFD trading with CMC Markets is possible on three trading platforms:
- Next-Generation Standard
- Next-Generation Advanced
- MetaTrader 4
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Next Generation Platform (Standard + Advance)
CFD trading is done using the CMC Next Generation platform. The best part of the platform’s charting program has technical indicators and chart patterns, as well as 12 built-in chart types. Traders have the ability to perform detailed technical analysis as well as price movement analysis. It won the 2019 Investment Trends survey as the best mobile trading app and was named the best charting package for 2021.
The Next Generation trading platform offers three trading tools: client sentiment which displays the quantity as well as the position value of the instrument traded. The second tool is multiple layouts which gives unique insight into price movements. The pattern recognition scanner identifies patterns and alerts traders when they are discovered.
The Next Generation trading platform can be found on:
- Desktop platform (download required)
- Web platform
- Mobile trading platform (including Apple iOS app and Android app).
CMC Markets’ review revealed that the CFD Trading mobile application can do almost everything you need on your desktop. CMC Markets offers traders access to complex orders and account types, screeners and charting via the Android and iPhone apps. It is very intelligent. Clients can create their own layouts, which allows them to have a completely personal experience.
The fingerprint security feature in the iPhone app is present, but not in the Android version. The iPhone app does not include fingerprint security. However, the Android version does. The applications should have classic security features like automatic sign-in and verification of logins from other devices. Trades with huge amounts of money are not uncommon, so a lack of security can be quite alarming.
CMC Markets also provides MetaTrader 4 (MT4), which is the most widely used forex trading platform. Popularity of the platform is due to its Expert Advisors (EAs), automated trading capability, advanced order types and technical analysis, as well as its user-friendly interface. MT4 has many advanced features that allow you to trade strategies, from pattern recognition to an economy calendar. You can also use advanced chart types and drawing tools to gain additional market insight, such as customer sentiment. You can test trades in a virtual environment by opening a demo account.
CMC does not offer MetaTrader 4. However, it offers a limited range of functionality and instruments on its forex platform. If you wish to trade with CMC, the Next Generation account is recommended. CMC platform ranks second among leading brokers. CMC only offers one platform, which is concerning. Pepperstone, the broker with the best Forex trading platform was voted by customers as having 7 platforms. This includes MetaTrader 5 and cTrader. This clearly shows that customers prefer to use reputable platforms over homegrown ones.
CMC Markets can also offer institutional clients a place to call home via the new Prime Derivatives platform, which allows professional traders to trade in over 20 countries.
Methodology used to compile for Forex brokers
Each broker is evaluated using more than 100 objective criteria. This results in an average score, which reflects all aspects of the broker’s work. We also consider its trading volume which we can access thanks to the hundreds of thousands of traders in our Union. We also consider reviews of brokers written by their traders. These are all part of our website. Our unique algorithmic matrix calculates the average score for every company as well as its ranking in the rating. Our rating system is the most impartial and independent on the Forex market.
Create your own matrix: A professional list Forex brokers comparison tool is available if you want to compare companies based on specific parameters. You can create your own broker selection using the 150 brokers available.
Summary of CMC Markets
CMC Markets is one of the largest brokers in the world. They cater to traders who are subject to regulations in Canada, Australia, Singapore. CMC Markets offers CFD trading in all markets. In Australia, they offer stockbroking. The additional service spread betting is available in the UK. CMC forex traders have the option to choose between MetaTrader 4 or the Next CFD Next Generation platform. To trade shares in Australia, a separate stockbroking platform must be used.