CMC Markets Review
CMC Markets is a full-service online broker focusing on Forex markets, but includes over 10,000 tradable instruments from around the globe such as commodities, global equities, CFDs and binary options contracts. Since launching in 1989, CMC was a pioneer in the contracts for difference business and has become one of the world's leading CFD providers.
With its streamlined proprietary web trading platform, featuring a high level of customizability and intuitive features, CMC is perfect for everyone - from those just entering the FX market to the seasoned day trader. They offer low-cost execution, tight spreads, and award winning technology. In the last two years alone CMC has won over 50 awards, recognizing the quality of service and dedication to its clients.
In this review, we will go through CMC’s web-based trading platform and how it can be best used by its clients to trade Forex markets and various other contracts.
Login Page - Log in to CMC with your username or password. You can sign up for a live account or test the waters with a demo account.
Portfolio & Account Management
My Accounts - Home - When you log into your CMC account, you’ll notice that a number of windows appear on the dashboard. Layouts contain several customizable modules that can be rearranged, added or deleted. Along the top of the page is the Navigation Toolbar for your account.
My Account - Account Detail - To check your portfolio balances and other account details, click the "i" icon on the Navigation Bar, next to your account value. This opens a module that provides a more detailed view of your account value.
My Account - Setting Preferences - Choose among the various modules in the Preferences menu to configure your preferred settings, by asset class or by specific products. Personalize settings based on default trade size, and set up one-click trading, execution alerts, stop-loss orders, take-profit orders, limit orders and stop-entry orders. Here, you can also select your preferred account close-out method and change your password.
Platform - Charts Layout - In addition to the default dashboard layout, CMC comes with a handful of pre-made configurations. You can choose from five different layouts by clicking the appropriate link on the upper left of the screen. The charts layout features a number of charts for your favorite assets. Click on the upper-left dropdown menus on any module to trade or get more information.
Platform - FX Layout - CMC is known for its foreign exchange (FX) trading platform. This layout highlights the major currency trading pairs that are available to trade.
Platform - Countdown Layout - CMC is also an innovator in giving its users access to novel derivatives products such as binary options and countdowns. Countdowns provide a fast, straightforward way to trade with limited risk on the short-term price movements of financial markets – think of them as very short-term options. Binaries are options that are worth either 0 or 100 depending on whether an event occurs within a specified timeframe.
Platform - Layout Manager - If you want to tinker with CMC’s modules and create your own layout, you can use the Layout Manager. Click on the "gear" icon next to the layouts tab at the top of the page to save your custom work of layout art.
Platform - Product Library - A prime benefit of CMC is that its users have access to thousands of global stocks as well as commodities, currencies, binary and countdown options, government Treasury bonds and more. Click the Library icon on the Navigation Bar to load up the product list. Search by name or browse by category and region. Click on the arrow next to an asset to access a dropdown menu where you can buy and sell or get more information on that asset.
Trade Execution - Making a Trade - When you’re ready to make a trade, you can open an order ticket to buy or sell an asset by clicking any price on the platform in any module. For example, to trade the EUR/JPY currency pair, simply click on the price and a window will open with the order ticket. Enter the quantity and order type, then click Place Order.
Trade Execution - Order Confirmation - After you’ve placed your order, you’ll receive a trade confirmation with the price it was executed at. You can also view your historical trades under the Account menu.
Watchlist - Major Currency Pairs - If you want to keep track of your favorite investments, you can create watch lists for easy access, then view a personalized news feed of related articles. In addition to your own watch lists, CMC has a pre-loaded list of major currency pairs as well as 20 of its most popular products.
Watchlist - Popular Products - If you want to keep track of your favorite investments, you can create watch lists for easy access, then view a personalized news feed of related articles. In addition to your own watch lists, CMC has a pre-loaded list of major currency pairs as well as 20 of its most popular products.
News & Market Insights
News - Market Pulse - Reuters News - News drives asset prices, and macro events can affect FX and commodities markets quite quickly. Click on the Market Pulse icon on the Navigation Bar, which looks like the depiction of a heartbeat for news, insights and more. The Reuters news module feeds live headlines and articles across all asset types straight into the platform as they are published. Reuters News can be filtered according to products within a watch list. Use the market calendar to view the latest economic data releases from across the globe and set reminders for future updates. You can also keep up to date with the markets and with CMC by linking to its blog and social media outlets on Twitter and YouTube.
Stock Trading & Investing
Portfolio - Account Balance and Positions - If you want to see your portfolio or look at your order history, click on the icon that looks like a safe on the Navigation Bar. This is also where you can go to cancel or modify open orders that haven’t been filled yet. Here, you can also access and download statements and forms.
Trading Tools – Pattern Recognition - The Trading Tools menu is located on the Navigation Bar under the compass icon. Use the Pattern Recognition tool to set up a pattern scanner to alert you to potential technical trade set-ups every 15 minutes. For example, when wedge, head and shoulders or double top formations appear.
Trading Tools - Pattern Recognition – Patterns - Once you have some patterns loaded into the scanner, you can view potential technical trading opportunities as they emerge and evaluate those that have completed. Stars indicate how accurate the technical signal was in calling the outcome.
Trading Tools - Portfolio Mixer - If you want to build your own portfolios – constructed from long and short positions across a wide range of asset classes – use the Portfolio Mixer to see how those would have performed historically – and then save your mix so that you can trade it later.
Payments - Transfer Funds - When you need to fund your account, you can transfer money in by clicking on the Payments link along the Navigation Bar, which is indicated by a credit card icon. You can fund your account via card payment or bank transfer, as well as make withdrawals.
Education & Resources
Education and Resources - Help Menu - When you just need a little bit of help, navigate to the Help menu, indicated on the Navigation Bar by the "?" icon. If this tutorial isn’t in-depth enough, check out CMC’s quick start guide and video platform tours. You can find links to recordings on YouTube of CMC’s trading and strategy webinars and events.
Customer Support - Live Help - If you run into trouble and need assistance right away, click on the Live Help link, which opens a chat box where you can speak with a live agent. You can also reach CMC by phone at +44 (0)20 3003 8588 or by email at email@example.com.