CMC Markets Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
CMC Markets - UK-based broker that is popular among CFD traders.
Yes, this broker's official website and app are legit, safe and trustworthy for UAE citizens and residents.
CMC Markets has decent reviews on Reddit and Quora, including satisfactory ratings on sites like Trustpilot. Thus, overall this broker is considered reliable for online trading of currencies, cryptocurrencies, CFDs and stocks.
In 1989, CMC Markets (CMC) was created as a well-established, publicly
listed, and well recognised FX broker in the United Kingdom. CMC Markets has
effectively adapted to the constantly changing online brokerage scene. In
addition to being publicly traded on the London Stock Exchange (LSE), CMCX is
also a publicly traded corporation. CMC, like many other forex brokers, does not
allow traders from the United States.
CMC's main platform, fittingly dubbed "Next Generation," is a feature-rich, web-based service that is easy to use. This, in conjunction with the widely available MT4 (downloadable) platform and a working mobile application, is the whole of CMC's online offering to the general public. CMC gives traders with access to a diverse selection of products, including CFDs and spread betting, that span a variety of asset classes and are available in several currencies. A complete government bond listing and 14 cryptocurrency offers (12 cryptos + 2 indices) round out the product lineup, giving an overwhelming amount of possible trading options for traders of all skill levels. Customers' accounts are safeguarded from sliding into a negative balance state since the broker provides competitive spreads that are dynamic in the sense that they broaden or contract in response to transaction sizes.
While CMC has created dedicated sites for professionals and institutions to demonstrate its increased commitment to skilled traders, higher-level perks, such as rebates and a free API interface, are only available to those who qualify as "professional" traders and are not available to the average retail trader. Still, all account holders have access to guaranteed stop losses (GSLO), free bank wire withdrawals, and a variety of other beneficial features. CMC Markets has been named the Best Overall Forex Broker for 2020 by Investopedia's rating system, which took into account the broker's wide product offerings as well as its top-tier placement in various review categories when determining its ranking.
Our Best Overall Forex Broker and Best for Range of Offerings awards were given to these firms.
Traders of all sorts will find CMC Markets to be a good match, thanks to its comprehensive product range and easily navigable, feature-rich trading interface (Next Generation).
CMC Markets places a strong emphasis on providing excellent customer service, research facilities, and instructional tools.
From the newbie retail trader wishing to dip their toes into the online trading arenas of forex, contracts for difference (CFDs), and spread betting to the seasoned veteran seeking exposure to a wide range of products, CMC Markets caters to all sorts of investors and traders. In terms of fees, the company is comparable with its peers in the sector, and it scores well on numerous of our best-of lists. According to Investopedia, the firm has been named as the winner of the Best Overall Forex Broker for 2020 award, as well as the Best Forex Broker for Range of Offerings award.
In the online forex brokerage community, CMC Markets provides customers with one of the most comprehensive product catalogues on the market. The fact that customers may trade up to 10,000 different products, as represented on the company's website, opens the door to several options, particularly with long-term portfolio managers.
Markets are regulated by the Financial Conduct Authority (FCA #173730), which is considered to be one of the most important regulatory agencies in the United Kingdom and is well-known throughout the world for being strict in ensuring that market practises are fair for both individuals and businesses. Simply said, being regulated by a respectable government-backed organisation contributes significantly to creating the legitimacy of a company. The risk inherent in markets is accepted by traders, but they would prefer the assurance that their funds are not vulnerable to dangers other than the ones that they are accepting, such as counter-party risk, before engaging in trading. Across addition, segregated customer money are stored in a number of U.K. and European banks in order to further distribute risk over a larger geographical area.
A commendable commitment to providing customers with high-quality research is shown by CMC Markets. It is on par with the finest that the online forex brokerage industry has to offer in terms of performance.
In addition, CMC Markets provides "negative balance protection," which has become a rather crucial feature that most online brokers are now including in their product offerings. The SNB incident on January 15, 2015, which roiled the markets, particularly in the highly leveraged retail foreign exchange market, was most likely the cause. Additional services provided by CMC include guaranteed stop losses.
Because of regulatory restrictions, CMC Markets is unable to accept customers from the United States, preventing it from really being called a worldwide broker. This would be cause for concern if the corporation were not governed by the FCA, which, together with the National Futures Association and the Commodity Futures Trading Commission, is generally regarded as the world's top regulatory agency.
A significant increase in the spread charged for S&P 500 CFDs and spread bets (5 points) compared to the average (5 points) was noted in the index cost disclosures, indicating that CMC Markets is charging a premium above the average.
Because CMC's Next Generation is not equipped with back-testing or automated trading capabilities, MT4 is the only viable option for algorithmic traders who want these features.
The spread, which is competitive in the market, is used to cover the majority of the expenses associated with trading at CMC Markets. The spread is also the primary means by which CMC generates revenue, especially via client transactions that "cross" the bid / ask spread. Guaranteed stop losses (GSLO) are only available on Next Generation, and they come at an additional cost that is applied to your trading account. If the GSLO is not activated, the fee of this service is repaid. When trading individual stocks and exchange-traded funds (ETFs), there is a commission fee that must be considered. Depending on whether your account is designated as a CFD or spread betting account, this fee may be charged to your account immediately upon order execution or added to either side of the spread on either side of the spread.
Larger holdings are associated with higher spreads, according to the disclosure notes, but the specifics are platform-based, resulting in a lack of transparency. Small variations in holding costs are revealed in the fine print for widely traded major FX pairs, with advertised minimum spreads ranging from 0.7 pips (EUR/USD), 0.9 (GBP/USD), and 1.0 (EUR/CHF) on widely traded major FX pairs. However, the fine print reveals minor variations in holding costs that could have an impact on bottom lines. The legal declarations also acknowledge that the two platforms may exhibit different spreads for the same instruments on the same day. Average to competitive margins and overnight holding costs may be found.
On the index cost disclosures, a five-point S&P 500 spread for CFDs and spread bets, which was much more than the industry norm, stuck out like a sore thumb. Because that spread is paid at all hours of the trading day, including local time in the United States, it is an undesirable trading tool for the majority of account holders in that country. As a comparison, the Nasdaq spread is one point, and the DJIA spread is sixteen points, both of which are closer to industry norm.
Customers intending to create a live account with CMC are not required to make a minimum deposit; nevertheless, logic dictates that this amount will be subject to the margin requirements of the lowest transaction size that the client desires to conduct in order to qualify for the account. The highest-balanced clients qualify for premium services such as increased trading leverage, a personal account manager, incentives (rebates and prizes), priority access to new products, and segregated accounts.
With the exception of an inactivity cost of £10 (or its equivalent in the account's base currency) each month for each live account that has not traded in the previous 12 months, and a market data fee for some CFD shares, CMC does not impose any additional fees that are not directly tied to trading.
Traders who want a more technical trading platform than MetaTrader 4 would appreciate the unique Next Generation trading platform for web, tablet, and mobile. MetaTrader 4 is also available. The navigation, on the other hand, is not as straightforward as it might be on other platforms, which may be a result of the large number of functions that have been crammed into this interface. Trading in cryptocurrency CFDs and spread betting is easy, needing no specific interface or exchange, although the comparatively large average spreads may discourage some clients from engaging in the activity.
There are 115 indicators/overlays, 12 chart styles and 35 drawing tools on the site, and it also has highly customisable watchlists, client sentiment, and a live broadcast of the Reuters news feed. Charts can be dragged and dropped into sophisticated desktop layouts to help you design and optimise them. Clients interested in long-term trends will be able to access price records for main instruments dating back more than 20 years. Aside from these features, the platform includes price forecast and pattern identification capabilities, as well as a built-in link to the client-based trader's community.
Order types in Next Generation are divided into three categories, each of which may be supplemented by "take profit" and/or "stop loss" orders. Also available to traders is the ability to establish an initial stop loss at the time of execution for market orders, which may later be changed to a guaranteed stop loss after the order has been executed. When placing pending orders, the trader has the option of selecting between guaranteed or trailed options when filling out the order ticket before to execution.
Market - The most basic kind of order, in which a trader indicates that their trade request should be completed at the current market exchange rate.
Limit order - A pending order in which the entry is at a predefined point below or above the current market rate, depending on whether it is a buy or sell order. Limit order - The trader also has the option of specifying the time at which the order will be executed.
For buy or sell orders, the entry point is a predefined point above or below the current market pricing, depending on whether the order is a stop order. The trader also has the option of specifying the time at which the order will be executed.
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When it comes to mobile platforms, clients have the option of choosing between Next Generation and MetaTrader 4 for iOS and Android. MT4 is outperformed by the homegrown programme in practically all respects, although it has less functionality than the webbased version of the software. More crucially, the importance of chart optimization has been highlighted. Clients can create complex orders and generate customised alerts that are delivered via push notification or email to their inbox. Although the applications support fingerprint identification, this important feature is not included in the two-tier authentication procedure. MetaTrader 4 is available as an add-on or independent account option, although it is restricted to CFDs and does not support the sharing of account information.
Because Next Generation does not have back testing capabilities, some account holders are forced to utilise MetaTrader 4, which is in many respects inferior to the homegrown platform in terms of performance and reliability. CMC does not provide a direct virtual private server (VPS) service. Similarly, an API interface that allows for the use of more advanced trading platforms that enable algorithmic and automated trading routines is beneficial. Client positioning data embedded within the proprietary software is a fantastic feature that could have been further enhanced if social or copy trading had been made available in addition to the proprietary software.
In the online forex brokerage community, CMC Markets provides customers with one of the most comprehensive product catalogues on the market. Traders may trade a maximum of 10,000 items, according to the company's website, which opens the door to several options, particularly with long-term portfolio managers.
In addition to having low spreads that are competitively priced, all financial instruments, with the exception of individual stocks, have defined margin percentages. The margin rates on CMC's common stock "start with a 20 percent stake in the United Kingdom and the United States. In the case of significant positions in stocks, different margin charges apply depending on which tier the position size fits into."
In this day and age, an online broker who does not put a high focus on answering the demands of its customers in an expedient and pleasant way may find themselves on the verge of bankruptcy or closure. CMC Markets is well aware of this situation. Contact options cover all the basics, including email for current and potential clients, local phone assistance available 24 hours a day, five days a week, as well as complete FAQ and help libraries. In addition, live chat may be opened directly from inside the Next Generation platform, which is quite useful for users. The frequently asked questions are highly helpful and neatly arranged. During many contact attempts, the average chat waiting time was between 30 and 40 seconds. In addition, the broker has 13 satellite offices on four continents to support its licenced activities in other jurisdictions. Updated comments and active customer conversations abound on the company's Twitter and Facebook sites.
The instructional resources provided by CMC are on par with the best that the competition has to offer. Clients with less experience will benefit from a comprehensive trader's library, albeit the technical and fundamental lessons are geared at beginners and lack advanced teaching and knowledge of the markets. A significant portion of instructional materials is dedicated purely to platform and programme teaching, which is very beneficial considering the amount of capabilities available on Next Generation.
Beginner tutorials to trading the diverse range of items available may be found here, as well as a section dedicated to trading methods, which includes videos of traders discussing their tactics. While a robust lineup of online webinars, made possible via a collaboration with Trade With Precision, meets the demand for advanced subjects, there is currently no archive of prior programmes available.
Overall, the educational materials are outstanding, but the absence of a search option makes it more difficult to identify less popular subjects and gives the impression that this part is badly structured, which is not the case. The glossary has sufficient information.
The order interface for the Next Generation can only be regarded as bad at best. The order ticket may only be used to place basic market and pending orders, however the latter does come with the additional protection of the Global Securities Litigation Organization (GSLO). Trading journals and tax accounting tools are not available via the CMC platform, nor does the company supply them.
The "pip value" is selected by the customer, and the "trade value" and "estimated margin" are automatically filled in on the order ticket (only for market orders). The levels for "stop loss" and "take profit" may be defined by inputting the rate, setting the number of pips, or selecting the amount of money that the trader is willing to lose or win.
Instead of having a built-in tool for evaluating trade activity, Next Generation does not have one, unlike several of its rivals' platforms. Given all of the other features that have been added to this platform, it may be asking too much to have this one as well, but their lack has pushed them into the bottom rung of the rankings for this category. A trader's ability to dig deeper into his or her trading behaviour than just the basic measures may be quite helpful.
CMC Markets excels in this area, thanks to substantial research and analysis from in-house analysts, as well as third-party resources such as Morningstar quantitative stock research reports and Morningstar quantitative bond research reports (live accounts only). A professional trader may be enticed to register a live account with CMC Markets only because of the availability of this option. On the website, many materials are accessible immediately, and news sources may be sorted by area and asset type. A regular economic calendar is also available on the website. It would have to be the absence of a specific search tool or an archive that is well-organized, which makes it difficult to discover information on many different themes.
The integration of research and news between the website and trading platforms might be enhanced, with a few resources causing the customer to depart the trading platform and go to a web page, as an example. Having said that, Next Generation provides clients with access to Reuters News (live accounts only), both fundamental (OPTO Magazine) and technical (pattern recognition software embedded into the platform and chart forum) market analysis, as well as the extremely useful CMC TV service, which provides regular video market commentary via a platform link to YouTube.
Financial Conduct Authority (FCA) registration number 173730 is used to identify CMC Markets as a financial services provider. In addition, the broker takes precautions to guarantee that client funds are not mixed with corporate funds, in compliance with the FCA's client money laws in the United Kingdom. If CMC goes bankrupt, the cash held in segregated accounts at regulated institutions will guarantee that customer assets are safeguarded. These segregated funds are also kept in a number of different UK and European banks in order to further distribute risk over a larger geographical area.
Extra asset protection is available via the Financial Services Compensation Scheme (FSCS), with limits of up to £85,000, but there are no additional layers of private insurance, which is an oversight considering CMC's extensive industry reach. In accordance with ESMA regulations that became effective in 2018, negative balance protection is now required. In all CFD transactions and spread bets, the broker's dealing desk serves as the first counter-party; however, pricing is automated via the trading platforms, lowering the likelihood of a conflict of interest occurring.
CMC's software security is on par with the best that the industry has to offer in terms of performance. There is also a timer that will log the user out of the mobile application if the application is not being used. This is in addition to two-factor and biometric authentication.
Traders of all sorts will find CMC Markets to be a good match, thanks to its diverse product offering, user-friendly, feature-rich platform (Next Generation), extensive research facilities, relevant instructional materials, and a strong focus on customer care.
The fact that CMC is licenced by the Financial Conduct Authority (FCA) offers confidence, as does the degree to which the company promotes account security. In turbulent market situations, negative balance protection offers customers with peace of mind, and the cost for guaranteed stop loss execution is affordable when compared to the account-saving risk management provided by guaranteed stop loss execution. There are no hidden fees, and the ability to withdraw funds for free through wire transfer is a wonderful feature.
Middle- and higher-level accounts without a professional certification make it more difficult to promote the broker since they are unable to take advantage of active trader rebates or utilise the API interface. Professionals and institutions, on the other hand, will discover a wide range of appealing features that make the service a good match for their needs, with a few exceptions, such as the high spread prices for some instruments (such as the S&P 500).
CMC Markets is well-known and respected across the world, and it provides a fantastic trading experience because to its competitive pricing and extensive assortment of over 12,000 tradeable products.
With a wealth of high-quality research and cutting-edge trading tools, CMC Markets' unique Next Generation trading platform was named Best in Class in ten different categories by the Wall Street Journal.
The CMC Markets Group, which was founded in 1989, is publicly listed on the stock market and is licenced in four tier-1 countries, as well as two tier-2 jurisdictions, making it a safe broker (low-risk) for trading forex and CFDs.
CMC Markets is the low-cost leader in the business, with trading fees that are far lower than the industry average.
The availability of competitive pricing is accessible to active traders – while the availability of discounts and rebate programmes may vary depending on your place of residency (see below) (and any applicable regulations).
More than 12,000 tradeable products are available on CMC Markets' Next Generation platform, which was launched in 2015.
Furthermore, CMC Markets provides a fantastic user experience, in addition to cutting-edge trading tools, thorough market information, and a fantastic mobile app.
The Invest app from CMC Markets is now available in Australia for exchange-traded shares.
Designed for professional clients, CMC Markets' Dynamic Trading product, which will be available in 2021, allows for fine tuning of allocations by adjusting the percentage weighting of investment portfolios.
CMC Markets' MetaTrader 4 (MT4) offering features fewer tradeable symbols than the competition, although the inclusion of Beeks VPS, as well as plugins from Autochartist and FX Blue, in 2021, has significantly boosted the company's offerings.
Despite the fact that CMC Markets' instructional material is extensive, it does not include progress monitoring, quizzes, or interactive content.
Recent months have seen a decrease in the amount of video content produced by CMC TV, with its output limited to weekly webinars.
Australian Securities and Investment Commission (ASIC), Canadian Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA) - New Zealand, and the Financial Conduct Authority (FCA) are among the tier-1 regulators that have granted CMC Markets permission to conduct business (FCA).
In addition to over 12,000 CFDs and a huge number of currency pairings, CMC Markets now provides access to worldwide equities markets (such as Australia). The 158 currency pairs offered by CMC Markets are also quoted in both directions (not only the EUR/USD quote, but also the inverse USD/EUR quote). This one-of-a-kind feature more than doubles the number of available pairs on CMC Markets, bringing the total number of available pairs to 316.
Cryptocurrency trading is offered via contracts for difference (CFDs), but it is not available by trading the underlying asset itself (e.g. buying Bitcoin). Please keep in mind that cryptocurrency CFDs are not accessible to retail traders from any broker's U.K. company, nor are they available to citizens of the United Kingdom (except to Professional clients).
If you are a trader who is concerned about costs, CMC Markets has you covered. CMC Markets was named Best in Class in the Commissions & Fees category for our 2022 annual assessment, because to its continuously low spread offering, which is accessible to all client categories and account types, and its consistently low spread offering.
Average spreads: According to CMC Markets' August 2021 price data, the firm provides competitive pricing that is above the industry average, with typical spreads on the EUR/USD of 0.73 pips on the EUR/USD.
Rates of return on forex trading capital: CMC Markets provides liquidity rebates to active traders that start at 5 percent of the Level 1 spread and increase from there. Higher discounts are available to those who trade in excess of $25 million in notional trading volumes per month, with the highest tier available to those who trade in excess of $300 million in notional trading volumes per month. In August 2020, the average spread on the EUR/USD was 0.74 pips, thus the total cost of the top tier would be 0.64 pips, which is comparable to similar programmes given by IG (0.59 pips) and Saxo Bank (0.59 pips) (0.6 pips).
Please keep in mind that this programme is only accessible to clients in New Zealand, as well as PRO clients in the United Kingdom, Australia, and the European Union.
Alpha rebates for stock trading: CMC Markets' Alpha offering (which is only offered in the United Kingdom, New Zealand, Canada, and Australia) gives free access to services like as premium reports, market data, and Trading Central, all of which are accessible to all customers. Alpha is divided into three tiers: Classic, Active Investor, and Premium Trader, each of which has its own set of trading specifications. Each month, the Classic base tier requires 11 trades, whereas the Active Investor tier requires 11-30 trades per month – or five trades with at least $500 in commission spend – in order to be eligible for promotion. Finally, if you do more than 30 transactions each month, you will be eligible for Premium Trader service. AUD 9.90 per transaction is charged at the basic level for each tier, with further reductions ranging from 0.1 basis points (bps) to as low as 0.075 basis points (bps) for greater trade quantities.
Guaranteed Stop-Loss Order (GSLO): CMC Markets, like many of its competitors, provides guaranteed stop-loss orders. These orders ensure that the stop-loss order price will be respected, albeit there is a fee associated with utilising GSLOs, as is the case with the majority of brokers. If the GSLO is not triggered, the additional cost is shown in the trade ticket window, and CMC Markets immediately refunds the amount if it is not activated.
Aside from being well-designed, the CMC Markets mobile app is also jam-packed with several research tools, sophisticated charts, preconfigured watchlists, integrated news and instructional material, and other useful features. The bottom conclusion is that CMC Markets provides an excellent mobile app experience.
User-friendliness: I only discovered one tiny flaw: indications added to the online version do not instantly sync with the mobile version — a feature given by industry heavyweights Saxo Bank and TD Ameritrade. Having said that, watchlists are synced with the web-version, and once indicators have been added, the layout may be stored as a preset and used to other charts on the CMC Markets mobile app, allowing for more flexibility.
Overview of the application: Compared to the web-based version of the Next Generation platform, the CMC Markets mobile app has a similar general appearance and feel in terms of design. There's little doubt that CMC Markets put in a significant amount of effort into the app's creation, particularly considering the difficulty of arranging so much information on a small screen.
Charting: The charting capabilities of the CMC Markets mobile app are on par with those of the online version of the Next Generation platform. Despite the fact that only 29 of the 86 technical indicators are accessible, it is still a robust offering when compared to the offerings of many of CMC Markets' rivals.
Market research: The Intraday Update, Morning Call, Evening Call, and Price Mover categories, as well as a slew of other themes available in the Next Generation mobile app, are all provided by CMC Markets' in-house research team. CMC TV, integrated instructional materials, webinars, and 23 films covering trading tactics are some of the resources available for researchers to use. Also, a remarkable and beneficial feature is that, after you have subscribed to an event in CMC Markets' economic calendar, you will get an alert to tell you when the event or news release time approaches, which is quite handy.
Aside from that, the predefined watch lists in the CMC Markets mobile app are extremely useful for identifying trade opportunities. Popular goods, price movers, and actively trending categories are all included in the watch lists.
The CMC Markets Next Generation trading platform is quick, dependable, and filled with outstanding tools and features. CMC's trading platform is a market leader that will amaze even the most discerning of investors and traders alike.
We found the Next Generation platform to be incredibly user-friendly and fast throughout my assessment of CMC Markets' platforms. The design of the Next Generation platform places a strong emphasis on speed and usability. The layout wizard on the platform allows you to pick between floating and fixed windows, as well as between established layouts and bespoke settings, among other options. Module linking is supported, and there are five different color-coded levels to choose from. When you click on the matching symbol in your watchlist, this time-saving feature prompts an update to the instrument shown on your chart, allowing you to save valuable time. However, if you do not want to utilise the default layout, you will need to spend some time configuring the platform. The ease-of-use element is equivalent to Saxo Bank's SaxoTraderGO platform, which is another of my favourite trading platforms.
Charting: The Next Generation platform has a robust charting environment, which includes 80 technical indicators and studies, 40 drawing tools, and 60 readily attachable candlestick patterns, among other features (or 73 if you count the 13 available chart patterns). The Breakout and Emerging Patterns tools are two of the most notable charting capabilities available on the Next Generation platform. When the time scale of the chart is altered, these chart patterns automatically shift, allowing traders to scan from a one-minute chart to a monthly chart and quickly spot any existing patterns.
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CMC Markets' Next Generation platform does not support the execution of automated trading techniques; nevertheless, sophisticated order types (such as the Boundary Order) are available to assist traders define deviation parameters and reduce the possibility of slippage. Traders looking for an automated trading experience can take advantage of CMC Markets' MT4 platform – though the company's product offering is significantly more limited.
MetaTrader (MT4): Because it has just 62 instruments and less accessible tools and capabilities than Next Generation, I do not suggest it as a replacement for Next Generation.
With its varied range of in-house and third-party market analyses of the highest quality, CMC Markets consistently ranks as one of the best research firms in the world year after year.
A look at the research available at CMC Markets: The company's Insights News module, CMC TV (a bi-monthly print magazine), and the Opto Trading intelligence site (which includes articles, podcasts, and a print magazine issued every four months) are all examples of in-house material. Additionally, third-party material like Reuters and Morningstar is available.
Market news and analysis: In addition to Reuters news headlines, CMC Markets' team of analysts publishes high-quality research in textual form, which is accessible in the News and Analysis part of the website. It is possible to filter the information in both the Insight series and the Weekly Outlook series to give wide market coverage by asset class. Additional articles may be found on the CMC Markets Opto Trading Intelligence page, which includes daily market analysis articles that cover a wide range of worldwide markets, among other things.
Producing high-quality market analysis videos, CMC TV is the broker's primary in-house broadcasting service (akin to IG's equivalent IG TV), and it is comparable to IG TV in terms of reach. While CMC Markets' main YouTube channel generated less material in 2021 than in previous years, I discovered that its Opto CMC channel is actively creating high-quality content, including interviews with industry experts and news videos from ETFTV, on a consistent basis throughout the week.
When it comes to forex and CFD traders, CMC Markets competes with the finest in the market by providing a varied range of education in a number of media. These include written articles as well as video updates, podcasts, and live webinars.
Learning centre: CMC Markets' training offerings include a wide range of subjects and are geared for traders of all levels of expertise and knowledge. There is a variety of instructional information available on the CMC website, ranging from forex trading principles and associated beginning articles to expert strategy guides that include materials on cryptocurrency trading. Additional 140 articles covered topics such as fundamental and technical analysis, which I counted as well.
Educational videos and podcasts: On its YouTube channel, CMC Markets offers a variety of educational videos, platform tutorials, and podcasts, all of which are free to view. In addition to its website and trading platforms, some of this content is available on its YouTube channel and trading platforms, such as its Artful Trader Series, Opto Sessions series, and trading strategies video playlist, among other things.
The company offers a good selection of webinars, which are hosted from its offices in Australia and the United Kingdom and led by in-house analysts as well as Trade with Precision, a third-party service provider.
A few things that might be done better: Adding quizzes and progress monitoring, as well as centralising all of its instructional resources in one spot for simple accessible, would help CMC Markets compete more effectively with educational leaders IG and AvaTrade. CMC Markets also reduced the amount of video content it produced on its main YouTube channel in 2021, as opposed to its Opto CMC channel, which continues to produce excellent content.
CMC Markets is a wonderful option for worldwide forex and CFD traders because of its reasonable pricing and extensive product offering, which includes over 12,000 instruments encompassing practically every market and asset class. As a result, with numerous customization tools and configuration options, the CMC Markets Next Generation platform is a highly capable and adaptable trading platform.
For the year 2022, CMC Markets was named Best in Class in ten categories, continuing its habit of finishing at the top of the industry in all important areas.
Is CMC Markets a good broker? Yes, CMC Markets is a good broker that consistently ranks at or near the top of practically every important area of consideration. CMC Markets, an online forex and CFD broker, goes above and beyond to provide traders with a rewarding trading experience. Trading expenses, platforms, convenience of use, education, mobile applications, research, the breadth of markets available, and trading instruments are all among the best in the industry.
Is my money secure when I invest with CMC Markets? You can be certain that your money is in safe hands with CMC Markets, which has been in the business of trading CFDs and FX for decades, possesses a broad range of regulatory licences, and is a publicly listed corporation (LSE: CMCX).
Client money guidelines established by the Financial Conduct Authority (FCA) compel CMC Markets to keep client funds separate from CMC's own funds (unless you agree differently). It is important to note that the monies maintained in segregated bank accounts do not belong to CMC and will be handled in such a manner that it may be recognised as client money.
Given that CMC Markets has a market capitalization of more than £679 million as of February 2022, the company is deemed a safe broker to keep client assets, including your cash money. This makes CMC Markets a well-capitalized broker. Investing and trading include risks, and it is critical to work with a broker that is well-capitalized in order to minimise your possible counterparty risk.
Aside from that, depending on which CMC Markets firm manages your account, you may be entitled for compensation if your broker goes out of business in an extreme circumstance (contingent on any related investor compensation scheme available and whether you are designated as a Professional or Retail trader).
For example, the Canadian Investor Insurance Fund provides up to $1 million in protection per qualifying customer under certain circumstances (CIPF). Depending on your eligibility, your savings in the United Kingdom are insured up to £85,000 by the Financial Services Compensation Scheme (FSCS). The Financial Services Compensation Scheme (FSCS) is an independent organisation that provides insurance to clients of financial services businesses that have gone bankrupt. The compensation sum may be up to £85,000 per qualifying individual and per company, depending on the circumstances. Conditions for eligibility must be met. For further information, you may get in touch with the Financial Services Compensation Scheme.
What is the bare minimum deposit required for CMC Markets trading? CMC Markets does not have a requirement for a minimum first deposit. Regardless of the CMC Markets organisation you pick — for example, the United Kingdom, Singapore, Australia, Germany, or Canada — there is no required minimum deposit.
CMC Markets (LSE: CMCX) was established in 1989 and has since evolved to become one of the world's biggest retail FX and CFD brokerages, with over 69 billion Australian dollars in customer assets under management at the time of writing (including Australian stockbroking business and partnerships). CMC Markets, including its forex customers, services over 308,6440 active clients worldwide via its 13 locations in different countries, employing a total of 663 individuals throughout its organisations that are licenced in the United Kingdom, Canada, and Australia. As of March 31, 2021, CMC Markets has approximately £338 million in Tier 1 regulatory capital on its balance sheet. As of October 2021, the firm has a market valuation of more than £813 million pounds.
Learn more about online trading brokers for UAE citizens and residents.
Sites like CMC Markets in the UAE
Here is a list of top online brokers to open an account for trading Forex, Bitcoin, CFDs and Stocks in the UAE. These brokers have above-average reviews on sites like Reddit, Quora and Trustpilot; and are totally legit, safe and trustworthy for UAE citizens and residents.
The brokers listed on this webpage accept clients from within the United Arab Emirates. Most of these companies provide an online trading platform for fiat currencies (such as Pound Sterling, the Euro, the US dollar, Japanese Yen etc.), buying and selling of cryptocurrencies (for example Bitcoin, Ethereum, Tether, XRP etc.), stocks (this includes listings on Abu Dhabi Securities Exchange, Borse Dubai, Dubai Mercantile Exchange, Dubai Financial Market and NASDAQ Dubai), CFDs (Apple, Microsoft, Amazon, Google, Tesla etc.), UAE government and corporate bonds, and short-term to long-term fixed income securities.
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- OANDA - American broker that is now spreading its wings. (OANDA Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- ADSS - Based out of Abu Dhabi and regulated by the Central Bank of the United Arab Emirates. (ADSS Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- Orient Finance - Local online-trading broker that caters to novice traders looking to invest in the foreign exchange markets. (Orient Finance Review)
- Alfa Financial - Their office is located at City Centre Deira on Port Saeed Road; and generally tends to attract investors within Dubai. (Alfa Financial Review)
- One Financial Markets - Local forex broker with an office at Dubai International Financial Centre at Index Tower. (One Financial Markets Review)
- Amana Capital - A broker located at Central Park Towers, Dubai International Financial Center. (Amana Capital Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Century Financial - Old online-trading broker with an office at Level 6, Building 4, Emaar Square, Downtown Dubai. (Century Financial Review)
- IFCM UAE - Nothing special about IFC Markets, but it does have a dedicated .AE website for UAE clients. (IFCM UAE Review)
- EARNEX - This one is present at Jumeirah Lakes Towers and is licensed by the SCA. (EARNEX Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- Gulfbrokers ae - Dubai Multi Commodities Centre (DMCC) regulates this broker, but there nothing extraordinary about this brand. (Gulfbrokers AE Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.
Investment Disclaimer: The financial markets - forex, stocks, cryptocurrencies, contracts for difference (CFDs), REITs, notes, bonds, derivatives like futures, forwards, options, and swaps - carry inherent risks. Online trading is not suited for everybody. A complete wipe-out of invested capital is a common occurrence, especially for short-term trades. Use of disposable income is highly recommended.