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Best Trading Platform Australia: How reliable is CMC Markets?

Due to CMC Markets’ overall 99 out of 99 Trust Score, it is thought to be low risk. CMC Markets, which does not operate a bank, has been authorised by five tier-1 authorities (great trust), one tier-2 authority (medium trust), and none of the three tier-3 authorities (low trust). The following tier-1 organizations have authorised CMC Markets, making it the Best Trading Platform Australia have: Australian Securities & Investments Commission (ASIC).

CMC Markets enjoys widespread confidence and provides traders with an excellent trading experience thanks to its competitive pricing and broad selection of more than 12,000 tradeable assets.

Markets CMC

Since its founding in 1989, CMC Markets (LSE: CMCX), one of the largest retail FX and CFD brokerages in the world, has grown to manage client assets worth over 69 billion Australian dollars (including Australian stockbroking business and partnerships). With the addition of FX clients, CMC Markets now serves roughly 308,6440 active clients internationally through its 13 locations, and the 663 people employed by its firms that are subject to laws in the UK, Canada, and Australia.

CMC Markets had over £338 million in Tier 1 cash flows as of March 31, 2021. The company’s market value as of October 2021 is more than £813 million. But you should read cmcmarkets review before you begin trading there. The business received Best in Class awards for 2022 thanks to the internal Next Generation trading platform that CMC Markets developed.

Pros

  • Since it is publicly listed and controlled in four tier-1 nations in addition to two tier-2 jurisdictions, CMC Markets, founded in 1989, is a safe (low-risk) broker for FX trading and CFDs.
  • CMC Markets leads the industry in cheap trading costs, with fees that are significantly lower than those in the industry.
  • Competitive prices are available to active traders, while the availability of discounts and rebate programmes varies by the country in which you reside (and any applicable regulations).
  • CMC Markets’ Next Generation platform provides a wide range of more than 12,000 tradeable items.
  • CMC Markets provides excellent user interfaces, state-of-the-art tools, in-depth market analysis, and a first-rate mobile app.
  • Australian users can utilize the Invest app from CMC Markets for market stocks.
  • The Dynamic Trading tool for CMC Markets’ professional clients will be available in 2021 and allows for fine-tuning of allocation through % weightings of stock holdings.

Cons

  • Despite having fewer tradeable symbols now that Beeks VPS and plugins like Auto chartist and FX Blue have been launched in 2021, the MetaTrader 4 (MT4) offering from CMC Markets has significantly improved.
  • There is a ton of educational content available at CMC Markets, but none of it is interactive or progress tracked.
  • CMC TV recently reduced the amount of video content it creates and now just offers weekly webinars.

Can I trust CMC Markets with my money?

Yes, the publicly traded company CMC Markets, which has been a broker for CFDs and FX for many years, holds several regulatory licenses, and keeps your money in a secure account (LSE: CMCX).

The FCA Client Money Guidelines require CMC Markets to maintain client funds apart from CMC’s own funds unless you agree otherwise. The funds stored in separate bank accounts must be managed in a way that makes it apparent they are client funds and not CMC funds.

CMC Markets is recognized as a secure broker to maintain customer assets, such as your money, as a well-capitalized broker with a market capitalization of roughly £679 million as of February 2022. Investment and trading include risk; it is essential to choose a broker with enough capital to reduce your potential counterparty risk.

Additionally, depending on the CMC Markets organization that oversees your account, you may be eligible for compensation in the exceptional case of the broker’s bankruptcy (contingent on any related investor compensation scheme available and whether you are designated as a Professional or Retail trader).

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Scheme for Financial Services Compensation

For instance, the Canadian Investor Insurance Fund in Canada provides up to $1 million in security to eligible clients (CIPF). In the UK, your savings are secure.

The independent FSCS shields customers of insolvent financial services providers. The maximum compensation available to each qualified individual and corporation is £85,000. Applying criteria for eligibility Contact the FSCS if you want more information.

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Red Note: 30 September 2022

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