CMC Markets Review

The fact that CMC can change the reference for its cash commodity indices (WTI Oil cash on this instance) any time at their discretion is a scam !

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.

Trust this review and every other negative review on here.
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.

I used to trade with them . hopeless execution . No orders would get executed at the price you put in ever. Throw your money on the street may benefit you more than giving to this company. Same as other brokers, they are on the other side of all trades and make sure they make money.

on the 19/02/2020, 630am nz time, the nasdaq 100 from cmc, suddenly drop over 100 point for 1 second, if people don't have enough cash, they will lost everything. i compared the actual data from cnbc to CMC market, nothing like this at CNBC official website. SO IF YOU WANT LOST YOUR MONEY!!!!!! please don't trust CMC market.!!!!!!

This company arranges their trading software to ensure timing of order execution works to maximise their fees and charges while costing daytrader's opportunities, as it delays or rushes execution based on market movements. Do not use this company.

I have tried for 4 weeks to open an account with this firm. Initially their software malfunctioned and entered my birth date incorrectly so I could not verify myself. They suggested i open a new account and again the software entered my birthdate incorrectly but i was able to correct that this time. However, there was an inordinate delay in activating my account in my name even tho i sent them a certified copy of my drivers licence. Each time i spoke to them they assured me that they "would expedite my application' but nothing happened. So i have now cancelled my application and will open a trading account on another platform. Hopeless customer/client relations!!!

I have received the payment.. but very poor communication.
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.

More. Community discussion of this issue >>

scam every time you have to push the buttom this side lacks broke the connection or you had bee lockedout , form the server of this side
THE SCAM YOU
don´t be there, you safe money

User friendly.Straight away can tell how many profits or pips you would make when you fill in the order.

The most disgusting despicable bunch of morally unethically bankrupt thieves you will ever encounter.