Broker Details
Minimum Trade Size: | 0.01 |
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Maximum Leverage: | 300:1 |
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Minimum to Open Live: | $1 |
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Established: | 1989 |
Address: | 133 Houndsditch London, EC3A 7BX, United Kingdom |
Contact: | clientmanagement@cmcmarkets.co.uk, +44 (0)20 7170 8200 |
Regional offices: | |
Regulators: | ASIC #AFSL No. 238054, FCA #173730 |
Prohibited countries: | Unknown |
Trading platforms: | MT4, WebTrader, CMCMarkets Mobile Trading App |
Web Trading: | Yes |
Mobile Trading: | Yes |
Currencies: | (330+) |
Cryptocurrencies: | (10+) Bitcoin, Litecoin, Ethereum |
CFD: | (9470+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bond Indexes, Oil, Other Commodities |
EAs/Robots: | Yes |
News Spike Trading: | Yes |
Deposit Methods: | Bank Wire, VISA, MasterCard |
Withdrawal Methods: | Bank Wire, VISA, MasterCard |
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Traders Reviews
Scammers
Service use: Live
Length of use: 0-3 Months
Avoid those scumbags at all costs
SCAM / FRAUD / PRICE MANIPULATION
Service use: Live
Length of use: 0-3 Months
I had a position in the cash index - which at that time was derived (as is always the case) from the front month futures contract. When oil fell, I suspect CMC got caught very short as clients started buying.
CMC then changed the reference index to Dec ! And implied an extortionate holding cost to justify a cash price that will now remain unchanged !
I did not buy cash pegged to Dec. I bought cash derived from front month.
DO NOT TRADE WITH CMC ! You never know what you are buying!
I Have made contact with FCA and FOS. I urge others to do the same. They cannot get away with this.
Break their own rules on Product Disclosure Statement
Service use: Live
Length of use: 0-3 Months
The PDS for their CFD trading account is a big red flag even without them breaking their own rules. I have requested to withdraw my funds (yes, you need to do a lengthy approval process to withdraw anything, but not to deposit) and will be closing my account for these reasons:
Spread manipulation - when trading the Aus 200 index, they had a $10 spread 4 days in a row (this changed suddenly to catch people's stops/bankrupt them) . The MAXIMUM spread listed on their PDS and every other document for this product is $4. In plain english, they charged people $6+ more per unit than they said they can in their legal documents. A price change like that is likely devastating for any trade.
Price manipulation - the last straw was when they froze their Aus 200 index mid-trading period and adjusted the price $6 down from the real price. At least spread manipulation is somewhat transparent but this was too far. Their PDS states that their prices 'may' not reflect the actual price - what they mean is they will change the price to make their clients lose money. Their PDS also states that they 'may' trade against you to manipulate the price of the underlying asset as well. Not sure if that is legal, but it's a great reason not to trade with them.
I read the reviews on this site before opening an account and was cautious, so I didn't suffer a big loss, but just avoid them. Seriously.
Avoid them
Service use: Live
Length of use: 0-3 Months
The actual data is very much different to this site, its totally fake data
Service use: Live
Length of use: 6-12 Months
Manipulates order timing to maximize their spreads at the cost of your fund
Service use: Live
Length of use: 0-3 Months
Total failure to assist
Service use: Live
Length of use: Have not used
Integration of last feed back
Service use: Live
Length of use: 3-6 Months
Yesterday after my last feedback here + scam folder they have confirmed to have sent me the bank wire (today received)
Jun 17, 2019 - 1 Star Account: 17078085
Hi, it is indicatively from a month (from when cmc has changed its mt4 server) that my account has some problems:
1) I can not trade (every time with every currency) a trade goes to ''offquotes''
2) Is not possibile to see the history from mt4.
I have asked (10-15 times) by email and by chat the reason...their answer is '' your account is under verification'' but after one month nobody explain me the reason.
I have decided last week to ask a withdrawal....i see that money has been removed from my account but I HAVE NOT YET RECEIVED IT!!!!! I have asked the reason and their answer is '' account is under verification''...no others details...
Sincerly i think that cmc is near bankruptcy and it doesn't want to pay my deposit.
CMC Markets Scam´s YOU
THE SCAM YOU
don´t be there, you safe money
Frequently Asked Questions
Is CMC Markets safe?
Although CMC Markets UK plc (173730) https://www.forexpeacearmy.com/forex-reviews/41/cmcmarkets-forex-brokers.
Additionally, we'd recommend to check recent CMCMarkets community discussions: https://www.forexpeacearmy.com/community/tags/cmcmarkets/
Are CMC Markets Good?
Unbiased traders reviews on ForexPeaceArmy is the best way to answer if CMCMarkets are good. https://www.forexpeacearmy.com/forex-reviews/41/cmcmarkets-forex-brokers.
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.
Additionally, we'd recommend to check recent CMCMarkets community discussions: https://www.forexpeacearmy.com/community/tags/cmcmarkets/
What does CMC Markets stand for?
CMC Markets was originally named as Currency Management Corporation. Later the name was abbreviated to CMC and then changed to CMC Markets in September 2005.
What is CMC Australia?
CMC Australia is the Australian company of CMC Markets.
The CMC Australian branch consists of 2 companies:
- CMC Markets Asia Pacific Pty Ltd: provides derivative product.
- CMC Markets Stockbroking Limited: provides stockbroking services.
Service use: Live
Total scam!