Use live chat or make a call to a member of customer service team whenever there’s a market open. Our client sentiment tool allows you to view the number of clients and their ‘Position Value’ in almost real time. See how sentiment has changed with the day’s events and price movements – especially useful during volatile market conditions. You can view sentiment for ‘All‘ clients or just our ‘Top’ clients to get a unique insight into different traders’ behaviour. In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing.
Trade your favourite instruments from around the world
Whether you trade the majors, minors, movers or our forex indices, costs are important. That’s why we’re committed to being transparent with our pricing across the industry’s widest range of instruments – see the pricing for our most popular forex pairs below. Among the riskier elements of forex trading is the rapid pace at which transactions are carried out. Forex trades also often use high leverage, which means investors can quickly lose more than their initial investments. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only.
How much is the maximum leverage at CMC Markets?
Andy Rosen is a former NerdWallet writer who covered taxes, cryptocurrency investing and alternative assets. He has more than 15 years of experience as a reporter and editor covering business, government, law enforcement and the intersection between money and ideas. In these roles, Andy has seen cryptocurrency develop from an experimental dark-web technology into an accepted part of the global financial system.
More than a forex trading platform
Interactive Brokers’ spreads are extremely competitive — the company advertises spreads as low as 1/10 pip. To compare the trading platforms of both CMC Markets and FOREX.com, we tested each broker’s trading tools, research capabilities, and mobile apps. Finally, we found CMC Markets to provide better mobile trading apps.
Other popular pairs
For more details about the categories considered when rating brokers and our process, read our full methodology. Read our How We Test page to learn more about our research and testing methodologies. Read our preview of major market events in the week beginning 25 March 2024, and view our economic and company reports calendar. Read our preview of major market events in the week beginning 17 June 2024, and view our economic and company reports calendar. We’ve invested over £100m into our award-winning platform1, creating pioneering technology that suits all styles of trading. Use our country selector tool to view available brokers in your country.
In addition, CMC Markets is a publicly traded company and a member of the FTSE 250 Index. Regulators like FCA, ASIC, BaFin or IIROC ensures the broker complies with strict financial rules. The forex broker has been honoured with numerous awards (+50 industry awards) for the quality of its service. $0 minimum deposit is required by CMC Markets to open a trading account.
- There are fewer drawing tools and overlays available with the Pro platform than the Standard.
- CMC Markets provides a choice between its Next Generation platform, offering the full product range and advanced analysis tools, and MT4, ideal for those focused on automated trading with Expert Advisors.
- The size of the spread typically depends on the level of liquidity in the market.
- We conducted our tests with a live CFD Account using the Next Generation Platform and mobile app.
- The more sophisticated Head and Shoulders pattern can also be identified.
Given all the features that have been included on this platform, maybe it’s asking for too much to include this as well, but this omission dropped them into the lower-ranking tier for this category. The ability to drill down into one’s trading activity beyond the basic metrics can be invaluable to all traders. Clients can choose between Next Generation and MetaTrader 4 for iOS and Android when picking a mobile platform.
A trader working with a broker entity regulated offshore would not have these benefits guaranteed to them. CMC Markets offers flexible and accessible deposit and withdrawal options, with a range of fee-free methods and no initial minimum deposit required to start trading. This speed is crucial for https://traderoom.info/cmc-markets-a-wholly-reliable-brokerage/ the platform’s automated trading feature, which uses Expert Advisors (EAs) to execute complex strategies quickly and with minimal manual input. The best feature of the platform is the charting package (chart forum) with 115+ technical indicators, 70 chart patterns, and 12 built-in chart types.
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. CMC Markets is a pioneer and a market leader in the forex and CFD industry. They offer stability in that they are a large, extensively regulated company that is also publicly traded.
For instance, their spreads average 1.30 pips for pairs like EUR/GBP and GBP/USD, which is significantly lower than competitors’ spreads that can reach up to 2.50 pips. This disparity represents potential savings of up to 48% for traders choosing CMC Markets. To gauge https://traderoom.info/ how CMC Markets’ pricing stacks up against the industry, we conducted a comparison of their average spreads with those of their competitors. The comparison, detailed in the table below, reveals that CMC Markets consistently offers lower no-commission spreads.
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