Next Generation Platform By CMC Markets
Since 1989, CMC Markets have focuses on developing it’s own software and tools for financial products. It is therefore no surprise that in the quest to become a best forex broker, they created the “Next Generation Platform”. It’s key benefits include:
- Full automated execution
- Reliable pricing and platform performance
- Competitive pricing
- Layouts that can be customised
The Next Generation Forex Trading Platform by CMC Markets includes up to five layouts to suit Australian forex trading styles. This includes their 2013 MoneyAM award winning charting package that includes 80+ technical indicators, comparison charts & pattern scanning capabilities. The Next Generation platform also provides real-time analysis and news (including Reuters news) for CMC Market forex traders.
Mobile trading apps
Next Generation Forex Trading Platform By CMC Markets in 2012 won the Investment Trends UK ‘best mobile trading application’ across their range of apps across iPhone, android and iPad devices. As well as this, in 2015, CMC markets won the award for Best Platform Features in Investment Trends 2015 Australia FX Report. The mobile and device trading applications are explained below.
The iPhone app is comprehensive, allowing Australian forex traders to view their account summaries, open & close positions, and modify live trades.
You can also view live currency prices and access other data such as headline spreads, commission costs, margin rates and headline spreads.
Other features include access to historical transactions (up to 500), Reuters news, live economic data and live charts.
You can customise many of the charting features including a watch-list that opens up automatically in additional to 10 drawing tools and 20 technical indicators making it a best forex broker app.
The iphone app also contains the following features, as found on the CMC website:
Intelligent watch lists: The CFD iphone trading app has customisable watch lists that automatically sync with your web platform, along with live streaming and performance measures.
Enhanced product search: Use advanced product capabilities. Filter products by performance and volatility measures over multiple timeframes, and filter further by type, country or sector.
Product overview: Get easy access to essential product information at the touch of a button, including commission costs, headline spreads, holding cost rates, margin rates, and trading hours.
Customisable home screen: you can set which platform feature you would like to load as default when you open the iphone trading app. You can always access your important information quickly
The Android app has many of the iPhone features which works on a wide variety of phones from Samsung to HTC. You can view live prices, manage, open and close positions with just a few steps.
You can view multiple charts on a single screen and there are other features such as drawing tools, technical indicators, interval sizes and date ranges. These are automatically saved through watch-lists.
You can add funds directly through the app and manage your risk through features such as stop loss/entry orders, trailing stop loss orders & profit orders.
Another nice feature is the app’s boundary technology focusing on reducing slippage.
The Android app also contains the following features, as outline on the CMC website.
Advanced order tickets: Access our full range of order types including guaranteed stop-loss orders, trailing stops, boundary orders and the price ladder directly through the order tickets on our Android trading app.
Guaranteed stops: For a charge, you can place guaranteed stop-loss orders (GSLOs), via your Android device. These orders close you out of a trade at the price you specify, regardless of market volatility or gapping. We refund 100% of the GSLO charge if the order isn’t triggered
Intelligent watch lists: Our customisable watchlists automatically sync with your web platform. Along with live streaming data and performance measures, our watchlists automatically save your chart analysis for future reference.
Enhanced product search: Use advanced product search capabilities. You can filter products by performance and volatility measures over multiple timeframes, and filter further by type, country or sector.
Detailed product overview: Get easy access to essential product information at the touch of a button, including commission costs, headline spreads, holding cost rates, margin rates and trading hours.
Customisable home screen: You can set which platform feature you would like to load as default when you open the Android trading app, so you can always access your important information quickly.
The iPad apps combines the touchscreen ability with the desktop features to achieve a superior trading platform experience.
Live streaming mobile charting is advanced with the iPhone app with candlestick, line, heikn-ashi and candlestick options. You can also see up to four spread charts simultaneously to view currency market movements. You can also view 20+ technical indicators & 10+ drawing tools.
An additional feature of the advanced charts offered is the ability to place live trades directly from the chart and edit existing open orders. All charts can be saved to watch-lists which will open when starting the app in future occurrences.
Other features of the CMC Market iPad app is a live Reuters feed, the ability to add funds directly, live economic data (which can be sent as reminders) and the ability to see client sentiments.
You can also trade on the CMC Markets next generation platform which provides advanced tools combined with strong research elements to provide the edge for traders. The platform has excellent usability and easy navigation and institutions tools. You can also customise the layout of the tool to suit your requirements.
What We Liked About ‘Next Generation’ By CMC
We really loved the fact that the Next Generation platform was responsive and agile, you can really tell it has been specially designed by industry experts. The level of detail is not something we’ve seen from proprietary software anywhere else in the space.
On a number of review websites, traders who are clients of CMC, have all talked up how they felt the platform made it easier for them to trade FX and CFDs. Based on personal experience we tend to agree. We also enjoyed the ease of use and speed in signing up for the platform. In comparison with other Australian brokers this process was a lot smoother with an account manager contacting us within 12 hours of submitting our application.
We also enjoyed how the account manager walked us through the software to help get us started. It is increasingly more common in the world of FX for brokers to outsource most of their services to foreign countries such as Cyprus and India. There is nothing more frustrating than dealing with a customer service consultant who’s first language is not english and who cannot offer a suggestion or solution quickly if ever an issue arises.
Thankfully CMC’s staff are local, dedicated and well trained. They are able to deal with most issues in a timely manner ensuring your trades are not affected too much if something goes wrong.
About Our CMC Market Review
CMC Markets was reviewed against the best forex brokers in 2016. You can view the 2016 best forex broker comparison made or our CMC Market review based on the price, leverage and features compared. Our compare forex broker approach is to view each Australian forex broker’s website and create tables that have the elements Australian forex traders are looking for when it comes to a forex broker and fx platform.