CMC Markets Reviews

I was recently notified that CMC will be closing thier old Platform end of this month. Ive delayed and delayed transferring my accoun to the new platform, simply becuase one the sinlg biggest issues traders face is being familiar with the tool they use.

I finally found the time to log into next generation, only to find it has at present only a fraction of the instruments to trade as the old platform did. My question to CMC Markets was "How can a platform be better, if it only has a fraction of the instruments?" No answer was really forthcoming. This has no prompted me to look at other platforms

I've been using CMC for CFD trading of US stocks for about 9 months and have not had a live CFD with any other broker, so I can't compare them to another broker. I only use the MarketMaker platform and it perform OK without the slow downs that some others have reported. The PCs that I use MarketMaker on are quite modest, Athlon 3000 processor with 2GB ram. With MarketMaker I can put several charts on two monitors, but I could not see how to do that with the CMC web trading software so I don't use it - and it just looks naff anyway.

A particular problem is with setting a stop loss. The rule is that stops have to be at least twice the spread plus 1 point away from the current price, but even when I try to place a stop well outside that limit the software complains that there is insufficient distance from the price. The process of repeatedly setting the stop is too cumbersome, but if I keep trying then often the stop will be accepted. I contacted CMC about this problem and the person who responded stated that he could set a stop with no problem. As a result I rarely try to set a hard stop and rely on a manual exit instead.

The representation of OHLC bars on charts is abysmal as the bars are too thin. Again I contacted CMC about this and there has not been any change, so I just use candles.

When placing a market order of 200 or more shares the order can often just sit there not being actioned for several seconds. Often it will be quicker to close out a large position in lots of 100 shares at a time.

The ONE good thing about CMC is that there is no minimum commision, so when learning to trade you can trade as few shares as is wished, the smallest amount I have traded is just 10.

The charts supplied by CMC have the usual indicators but only those that are derived from price. There is no volume data or any form of scanning tools to locate fast moving stocks for example. So if you want a better chance to trade successfully then its necessary to supplement CMC charts with other data sources.

Its dissapointing to me that CMC are developing their next generation charting rather than providing those additional tools that will really help me, and in turn help them to keep me as a client.

CMC Markets is a nightmare! since I signed up 1 month ago I have been loosing on allmost every single trade I made, but I can't really say Im a good investor, Im a beginner right, but I am constantly trying to improve my self, but to loose on 98% of all positons is way off the probability, technically I have a 50% chance since the price either can go up or down, and I did allways enter on favorable positions, doubble tops and bottoms, head and shoulder patterns and reverse, triangles, etc, anyway, by knowing these strategies, I don't think I am that bad, their spread is too wide and it seems impossible to make any money unless you hit something that will hit the roof, I feel they have constantly been working against me since I signed up, a lot of re-qoutes when you are trying to get out at a limit price when the cource has reversed, if you choose market price they will sell way off underprice, further, their software sux, I had to stop using the desktop version because it frooze on me several times, and it is a real hog, eats all my Ram away, the web version doesn't offer much. if you are looking for a good broker make sure they have DMA (Direct market access) CMC Markets don't, they should be avoided at all costs!

I can't really say anything good about them except that when they screw up (which happens more often than it should) they occasionaly are prepared to acknowledge it and credit in your favour.

I mostly trade major FX pairs with them, I see a lot of bad spike data on minor FX and on stocks

maybe they are the best of a bad bunch? Who knows

They are worth a look for their unique software platform and wide range of markets.

Note- I have been using them for 2+ years, and made hundreds of trades and I haven't lost the money in my account with them, so this is not a sour-grapes review, it's just honest.

Used to be great a few years back. Now with all the updates it has got a little complicated and suggish. However, it still has it good looks. I guess it will take some time getting used to it compared to IGIndex.

On my account there were 2 separate trades executed (Forex) same time for the same currency pair. These are 2 separate trades and it is not possible to execute 2 sames trades at the same time in MM. Any way CMC is not helpfull as usuall and couldnt give any explanation. I ended up loosing money and closed the account long time ago.

Have been using their new spreadbet platform, both for web and iPhone and its been a very good experience so far. The spreads are narrow and pretty consistent. I love the iPhone app - its the best mobile trading app i have ever used. i'd like them to add trailing stops and better charting. Perhaps a news ticker as well. But very pleased so far.

Very spooky - I just logged in today and they have added trailing stops and the charts have additional functionality.

Agreed. Their front-end is totally ridiculous.

you will often see wide random spikes for some instruments within CMC, even when the underlying market is relatively quite. Could it be to hit stop clusters? who knows. But its unfair to say they are the only firm to do this. As an investor it is your duty to scrutinse the firms you use to trade and if you are unhappy be prepared to leave at the drop of a hat. Do not get comfortable with any firm even if they havent given you any cause for concern stay on your toes! everyone is here to make money even the market makers.

My brief experience with CMC ended when a long position in EUR$ I had open with them was stopped out. It was last thing on a Friday night and I just happened to have my systems running. CMC's spread opened (from memory)out to about 12 points, instead of there usual 3 or 4, in addition to moving about 15 points wide of the market. This only lasted maybe thirty seconds max and the market was obviously liquid... A cynical man would observe this allowed CMC to close anything within nearly thirty points of the market price instead of the usual 3 or 4. After numerous requests to explain were ignored or rebuffed I closed my account.