Established in the 1980s, CMC Markets, a UK based company, is one of the leading companies in the Forex and CFD trading industry and has been for more than twenty years. They were selected the best forex broker choice for beginner forex traders with little to no knowledge but can afford to take high risk. They offer:
- The highest leverage levels globally by mainstream brokers
- Guaranteed Stops (important for beginners)
- A Trading Platform that is easy to use
- A strong customer service offering
What Features Are Popular With CMC Markets?
No doubt that their most popular feature is their long history and experience in forex trading which has helped CMC Markets to build an impressively high level of trust among their clientele. Their leverage, which is the highest available in Forex trading Australia, guaranteed stops for security and peace of mind and Australian regulatory approval are their stand out features. The CMC Markets FX platform is also built by traders for traders so ticks all the boxes when it comes to non-negotiable features.
What FX Platform Does CMC Markets Offer?
Unlike other Australian forex brokers that offer numerous Australia forex trading platform options, CMC Markets offers only one, a proprietary web based offering known as the “Next Generation Platform”. Designed for traders looking for a fresh approach to currency trading it was voted as the best trading platform and “Best Online Charts” by Money AM in 2013. The trading platform is easy to customise and offers many features like auto-saves, numerous time-frame views, accurate pricing, automated order execution and even trading apps for iPad and iPhone users.
Spreads Offered By CMC Markets
CMC Markets spreads start from just 0.7 pips for USD/AUD pairing. In our forex broker comparison we found this lower compared to Think Forex (0.8 pips) and GO Markets (1.5 pips).
Leverage Levels Offered By CMC Markets
Leverage of 500:1 provided by CMC Markets is higher than that provided by reputed brokers Pepperstone & GO Markets who offer 400:1 and 300:1. A high leverage level offered by CMC means you can trade 500 times your deposit on the currency markets. There are no minimum deposits at CMC Markets but for arguments sake, a $100 deposit allows traders to trade $50 000 worth of currency. Please note, trading with high leverage carries considerable risk. Do not attempt this unless you can afford to take these high risks.
Stop Loss Protection
Considering that high leverage can result in significant loss CMC Markets offer their clients guarantees stop losses. While doing this CMC Markets review we established the need and importance of guaranteed stops for beginners. Risk mitigation is of paramount importance to beginners and guaranteed stops provide new traders with that security. CMC Markets are one of only a few brokers that boast guaranteed stops. Pepperstone don’t offer this protection but do offer ‘no negative balance protection’ ensuring you can’t lose more than your deposit.
Customer Service Levels
Looking at their customer support services, CMC Markets offers excellent service to their traders as one can contact customer support through live chat, phone, email or fax. There are also several localised phone numbers for those traders in different locations. CMC Markets has also been credited with offering their customers with a number of educational resources, especially for beginners.
CMC Markets has an Australian Financial Service Licence and is regulated in Australia. Australian forex traders can gain peace of mind knowing that the broker has a clean records and sound financial backgrounds. They meet training & capital requirements, set client’s deposits aside in an Australian bank account and comply with procedures to mitigate risk for creditors, consumers and investors. This includes the regular use of external auditors.
CMC Markets Forex Trading Review Conclusion
In summary of our CMC Markets trading review, the company offers one of the best forex trading Australia solutions to beginners interested high levels of risk. They boast incredibly solid spread fees, a guaranteed stop service that is hard to beat and a proprietary trading platform that is easy to use. The company also offers training courses to everyone interested in Australia forex trading and is perfect for traders who have a high tolerance for risk. We recommended this company to beginners with a high appetite for risk predominantly due to the guaranteed stops protecting trader capital, essential for beginners just learning the ropes.
This Australia forex trading CMC Markets review occurred on 12/03/2017 based on information from the brokers site which was tabulated on the forex broker comparison page. For any suggestions or changes needed due to human error, please do not hesitate to contact us. Please note: the analysis process we take is a manual one and from time to time errors may appear. Validate all information with broker websites prior to making your choice.
About This CMC Markets Forex Trading Review
This website prides itself on the accuracy of information presented and displayed on all comparison tables and in all reviews. Should you come across an error, please let us know at your earliest using our contact forms. As we update this website manually, it is recommended to cross reference all information found here with that displayed on the relevant Forex broker’s website. This CMC Markets Forex trading review sourced information from the broker’s website, from experience interacting with the broker’s platform and by communicating with their customer support staff.