CMC Markets review 2026

Quick verdict

CMC Markets is a UK-based broker. In our record, CMC Markets UK plc is authorised and regulated by the FCA under reference number 173730, and it offers spread bets and CFDs on three platforms: its own Next Generation platform, MetaTrader 4 and TradingView. It says there is no minimum deposit to open an account.

Here is our short answer. CMC Markets looks like a strong choice for safety and for platform quality, with one big condition: the details we can confirm belong to the UK company, CMC Markets UK plc. If you live in Africa, Asia or Latin America, you may be served by a different company, or you may not be accepted at all. Ask before you spend any time on registration.

The numbers we can state are these. The broker says forex spreads start from 0.7 points on the Next Generation platform in the UK, the maximum leverage for retail traders is 30:1, and 68% of retail investor accounts lose money when trading spread bets and CFDs with CMC Markets. The 68% figure comes from CMC Markets' own comparison page.

What we could not confirm: deposit and withdrawal methods, withdrawal times, commission amounts and account types. We do not guess. The sections below explain what each one means and how to get the answer from the broker.

Every trader should read this plainly: CFDs are complex instruments and come with a high risk of losing money quickly because of leverage. Never trade with money you need for rent, food, school fees or emergencies. Most retail traders lose money, and that is why the risk figure in each broker's own warning matters. Start small, learn first, and treat trading as a skill that takes time, not as a shortcut to income.

Is CMC Markets legit and safe?

CMC Markets is a real, regulated broker. Our record shows one licence, held by the UK company, and the broker's regulations page names it. Because the UK regulator is strict, this is a strong starting point. But strong regulation protects clients of the regulated company. It does not automatically protect a client who joins another company in the same group.

Large brokers usually run several companies in different countries, and each one has its own licence, its own rules and its own protections. The company that holds your account depends on where you live and which website you sign up on. This matters because the safety level, the leverage limits and the complaint route are tied to that company, not to the brand name. When you register, find the legal entity named in the terms and conditions, then check that exact name on the regulator's register. A tier-one logo in the website footer does not automatically cover an account opened with a different company.

Checking a licence takes about five minutes and is the best habit you can build. Go to the regulator's own website, not to a link inside the broker's page. Open the public register, type the licence number or the company name, and read the result. Check three things: the company name matches the one in your client agreement, the status is active, and the services listed include dealing in the products you want to trade. If the name, number or status does not match, stop and ask the broker for an explanation before you send any money.

Not all regulators offer the same protection. Regulators in large financial centres usually publish strict rules on client money, reporting, complaints and leverage, and they can fine or shut down firms. Regulators in smaller offshore centres often have lighter rules and fewer tools for a trader who has a dispute. A licence from any regulator is better than none, but it is wise to know which company holds your account and what the regulator behind it can realistically do for you. Read the regulator's page about how to complain, so you know the route before you ever need it.

A well-run broker keeps client money in segregated accounts, separate from the company's own money. That is meant to protect your funds if the company runs into trouble. Segregation is a rule in many regulated places, but it is only as good as the rules behind it. Look in the client agreement for a clause about where client funds are held, and which bank holds them. Some regulators also run a compensation scheme that pays out up to a set limit if a broker fails. Whether such a scheme applies to you depends on the company that holds your account, so ask before you assume.

If something goes wrong, work through the steps in order. First, write to the broker's support and describe the problem with dates, amounts and screenshots. Keep every reply. Second, if you get no fair answer, use the broker's formal complaints process, which a regulated company must have. Third, take the case to the regulator or to the independent dispute service named in the client agreement. The route available to you depends on the company that holds your account. Knowing this before you deposit costs nothing and makes any later problem far easier to solve.

Warning signs of a scam broker are easy to learn. Be careful when someone you met online promises guaranteed profits, pushes you to deposit quickly, asks you to move to a messaging app, or says a "manager" will trade for you. Be careful with websites that only copy a real broker's name with a slightly different address. Always type the broker's address yourself, check the licence on the regulator's own site, and never send money to a personal account or to a crypto wallet that support gave you in a chat.

FCA licence (CMC Markets UK plc)

The Financial Conduct Authority (FCA) is the financial regulator in the United Kingdom. CMC Markets says that CMC Markets UK plc is authorised and regulated by the FCA, and our record shows firm reference number 173730. The source is CMC Markets' regulations page. You can search the FCA register at https://register.fca.org.uk/ with the number or the company name. Check that the status is authorised, read the list of permissions, and confirm the trading name and address match what you see in your client agreement.

UK rules for retail clients are strict. They include a cap on leverage and a requirement for a clear risk warning with the percentage of accounts that lose money. That is why CMC Markets' own page can state the 68% figure. These rules also mean that UK clients receive a more cautious product than clients under lighter regulation. If the company that holds your account is not CMC Markets UK plc, the FCA rules may not apply to you. Ask support in writing which company will hold your account.

CMC Markets fees and spreads explained

CMC Markets says forex spreads start from 0.7 points on its Next Generation platform in the UK. That figure comes from its forex trading platform page.

The spread is the small gap between the price you pay to buy and the price you get when you sell. It is the most common cost in forex. A pip is the usual unit for measuring it, normally the fourth decimal place of a currency price. If the spread on a pair is tight, you lose less the moment you open a trade. If it is wide, the price has to move further in your favour before you are even at break-even. Spreads are not fixed. They tend to widen when markets are thin, around big news, and when you trade less popular currency pairs. So a low advertised spread is a good sign, but it is never a promise for every moment of the day.

One detail to understand: CMC Markets writes the figure in "points", while many brokers write "pips". A point is a unit of price movement on the platform. On many forex pairs a point and a pip are not the same size, so do not compare 0.7 points directly with another broker's pips without checking how each one defines the unit. The easiest comparison is to open a demo and read the live spread on the pair you trade, then do the same on the other broker's demo at the same time.

We could not confirm a commission schedule, so we do not state one. In the UK, spread betting and CFD accounts commonly build the cost into the spread, but we cannot say that is true for every CMC Markets product. Check the pricing and fees page on the CMC Markets site for the product and country you plan to use.

Some accounts charge a commission on top of a very small spread. The commission is a fixed fee for each trade, usually quoted per lot. A lot is simply the size of a trade; the standard full-size lot is the biggest common unit, and most brokers also let you trade smaller fractions of it. When a price is quoted "per side", you pay it once when you open and once when you close, so the full cost of one round trip is the two sides added together. Always add the commission and the spread together when you compare two accounts. An account with a zero spread and a commission can cost more or less than an account with a wider spread and no commission, depending on how you trade.

A swap (also called rollover or overnight fee) is a small charge or credit for keeping a trade open past the end of the trading day. It exists because you are effectively borrowing one currency to buy another. Depending on the pair and the direction of your trade, the swap can cost you money or occasionally pay you a little. Day traders who close everything before the daily cut-off often never see it. Swing traders who hold for days see it clearly. Before you hold a trade for long, open the broker's swap table in the platform and read the exact figure for your instrument. We do not quote swap numbers here because they change often and depend on the instrument.

CMC Markets, like other brokers, may charge financing costs for holding positions overnight. We do not quote any figure. Read the financing information in the platform for your instrument.

Slippage happens when your trade is filled at a slightly different price from the one you clicked. It is normal, and it can work for you or against you. It is most common during fast news releases and when the market is thin. A broker with good execution keeps slippage small in normal conditions, but no broker can remove it completely. If you plan to trade the news, expect it, use smaller position sizes, and consider limit orders, which only fill at the price you set or better. Test execution on a small live trade at a quiet time and again near a news event, and compare what you clicked with what you got.

Currency conversion is a quiet cost. If you fund your account in your local currency but the trading account is held in another currency, someone has to convert the money, and the exchange rate used is rarely the exact market rate. The difference is a fee in disguise. Where possible, choose an account currency that matches the currency you deposit in, and compare the rate you receive with the live market rate on the day.

Account types at CMC Markets

In our record, CMC Markets offers spread bets and CFDs. A spread bet is a way of speculating on a price move where you bet an amount per point of movement. In some countries, profits from spread betting are treated differently for tax, but that depends on your country and we cannot say how it applies to you. A CFD is the contract-for-difference product used by most brokers worldwide.

We did not confirm a list of named account types or a comparison between them. CMC Markets has a page that compares its trading accounts, and that is where to look. Ask these questions before you register:

• Is the account a spread bet account, a CFD account, or both?
• Which platform does each account use?
• Are fees different between accounts?
• Is my country supported for this account?

Also ask whether spread betting is available outside the UK. Spread betting is mostly a UK and Ireland product. If you are in another region, you will likely be offered CFDs, if the broker accepts you at all.

A demo account lets you trade with virtual money at live prices. Use it for three things: learning the platform, testing how a strategy behaves, and checking the broker's spreads at different times of day. Its limits are real. Demo fills are usually cleaner than live fills, and trading with pretend money does not teach you how it feels when real money is on the line. Treat the demo as a rehearsal, then move to a small live account before you decide whether the broker suits you.

ECN stands for electronic communication network. In plain words, an ECN-style account passes your orders towards liquidity providers and shows a very tight spread, then charges a separate commission. A standard account usually has the cost built into a wider spread and no commission. Neither is better for everyone. If you trade often in small sizes, the commission and the tight spread can add up to a lower total cost. If you trade rarely, the simple standard account may be easier to understand.

Minimum deposit: how much do you need to start?

CMC Markets says there is no minimum deposit to open an account. Its help page about comparing accounts is the source. That makes it one of the more flexible brokers in this respect.

Read this carefully, though. "No minimum to open" does not mean you can trade properly with nothing. To open a position you need enough margin, and a very small balance can be stopped out quickly. Your payment method may also have its own minimum amount. Look at the payment screen before you transfer money.

For a beginner, a good plan is to start on the demo account, then deposit an amount you can afford to lose, and use the smallest trade size. Do not deposit more just because you can.

A simple habit protects most beginners: decide in advance how much of the account you are willing to lose on one trade, and keep it small, often one to two percent of the balance. Then place your stop-loss so that a loss, if it happens, costs only that amount, and calculate your position size from it. This way a run of losing trades, which happens to everyone, does not end your account. Never add money to a losing trade hoping it will come back.

Margin is the money your broker holds aside from your balance to keep your open trades running. If your trades lose and your free margin gets too low, the broker sends a margin call warning. If it keeps falling, the platform reaches the stop-out level, and it starts closing your trades automatically, usually the biggest losing one first, to protect the account from going below zero. The exact stop-out percentage is set by each broker and account type. Find it in the account terms before you deposit. The best protection is simple: use a stop-loss on every trade and never use all of your available margin.

Deposit and withdrawal methods

We could not confirm the deposit and withdrawal methods in the pages we checked, so we do not list any. This is a real gap in our record, and we prefer to say so than to guess.

What to do: open the funding or payments page on the CMC Markets website for your country, or ask support for a list of the methods that work for your country, for both deposits and withdrawals. Write down these answers:

• Which methods are available for deposits?
• Which methods are available for withdrawals?
• Are there any fees from CMC Markets for either?
• Must I withdraw to the same method I used to deposit?
• Is there a minimum or maximum amount per transaction?

Most regulated brokers return withdrawals to the method you used to deposit, up to the amount you put in with that method, and only then send profits by another route such as bank wire. This follows anti-money-laundering rules. It also means that your first deposit method matters: pick the one you can also receive money on, in your own name, and that works well in your country.

A broker saying it charges no fee does not always mean your money moves for free. Your own bank, card issuer or e-wallet may charge for the transfer, and a middleman bank can take a cut on international wires. If your account is in one currency and your payment is in another, there may also be a currency conversion margin. These costs can be small, but they add up on small deposits. Before you pay, look at the full cost on the payment screen, and check what your own bank charges.

Identity checks, often called KYC (know your customer), are a legal requirement for regulated brokers. Expect to upload a government photo ID and a recent proof of address such as a utility bill or bank statement. The documents must be clear, uncut and current, and the name and address must match what you typed in the form. Most delays come from blurry photos, expired documents or a name that does not match exactly. Prepare good scans first and the process is usually smooth.

Rules for brokers differ by country, and some brokers cannot accept clients from certain places. Before you register, read the list of supported countries in the broker's terms, and make sure you open the account with the company that serves your region. Using a false address or someone else's documents to get around a restriction is a breach of the terms and can lead to a frozen account.

How long do CMC Markets withdrawals take?

We could not confirm a published withdrawal time for CMC Markets, and we do not have verified test data to quote. We will not repeat unverified claims.

Withdrawal speed has two parts. The first is how long the broker takes to approve and release your request. The second is how long your bank, card or wallet takes to receive it. Wallets are often quicker than bank wires, and wires that cross borders can take several working days. Requests sent at the weekend or on a public holiday usually wait until the next working day. Ask support for the exact process and time before you deposit, and test it with a small amount.

Here is how to measure it yourself:

• Ask support: "How long does CMC Markets take to process a withdrawal by my chosen method?"
• Finish identity verification before you deposit.
• Deposit a small amount and request a small withdrawal.
• Write down the time you asked and the time the money arrived.
• Look for any fee on the withdrawal screen or from your bank.

Before you trust any broker with serious money, do a small test. Deposit a small amount you can afford to lose. Place a couple of tiny trades and close them. Then request a withdrawal of part of the money and watch how long it takes and what it costs. This one hour of effort tells you more than any review, including ours. Keep screenshots and the transaction numbers. If anything is slow, unclear or surprising, you have found out cheaply.

Safe withdrawal habits protect you more than any promise on a website. Withdraw to the same account or wallet you used to deposit, because brokers must follow anti-money-laundering rules and will usually refuse anything else. Make sure the name on your payment account matches the name on your trading account. Finish identity verification before you deposit, not after you request your first withdrawal. Withdraw profits regularly instead of letting a large balance sit for months. And never share your login, your verification codes or your payment details with anyone who contacts you, even if they say they work for the broker.

Trading platforms

CMC Markets lists three platforms: Next Generation, MetaTrader 4 and TradingView. Its page comparing Next Generation with MetaTrader 4 explains the main differences.

Next Generation. This is CMC Markets' own platform. It is the platform linked to the 0.7-point forex spread in our record. Because it is built by the broker, it is usually the one that has the broker's full range of markets and tools. Try it on a demo to see how it handles charts, orders and alerts.

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the most widely used retail platforms in the world. MT4 is older, simple and focused on forex, with a huge library of indicators and automated tools. MT5 is the newer version with more timeframes, more built-in analysis tools and access to more kinds of markets. Both run on desktop, in a browser and on phones. If you are new, either is fine. Choose the one your learning material uses, so you can follow tutorials without confusion.

CMC Markets lists MT4 specifically, not MT5, in our record. If you want MT5, check the website for your country.

TradingView. TradingView is popular for its charts and drawing tools, and CMC Markets lists it as one of its platforms. If you already use TradingView for analysis, this may be the easiest route to trade from the same screen. Check what is supported for your account type.

Trading on a phone is convenient and is also where many beginners make mistakes. Screens are small, taps are easy to miss and it is tempting to trade in the middle of other things. If you use the app, turn on a screen lock and two-step login, set your stop-loss the moment you open a trade, and keep the position small. Do the real analysis on a bigger screen, and use the phone to check and manage.

Know the basic order types before you trade live. A market order fills at the best price available now. A limit order waits for a price you choose or better. A stop order becomes a market order once the price reaches your level, and a stop-loss is the stop order that closes a losing trade for you. Using a stop-loss on every trade is the single most protective habit in retail trading.

Some brokers allow you to hold a buy and a sell on the same instrument at the same time, which is called hedging. Others net the positions against each other. It is a small rule that changes how your strategy behaves, so check which one your account uses before you rely on it.

Leverage and risk

CMC Markets says the maximum leverage ratio for retail traders is 30:1. This is stated for CMC Markets UK plc and comes from the broker's account comparison page. It is a conservative level compared with many offshore brokers. It is a result of UK rules, and it exists to protect retail traders from losing money too fast.

If another CMC Markets company serves your country, the maximum leverage may be different. Do not assume 30:1 applies to you. Ask support which leverage applies to your account.

Leverage lets you control a larger position than your deposit alone would allow. With a ratio such as 1:10, each unit of your money controls ten units in the market. That magnifies gains, but it magnifies losses by exactly the same amount. Leverage is not extra money. It is a loan against your margin that can wipe out a small account quickly if a trade goes the wrong way. Higher leverage does not make you a better trader. It only makes every mistake bigger.

With a ratio of 30:1, a small price move still has a big effect. If you control a position thirty times larger than your margin, a move against you of a bit more than three percent could wipe out the margin on that position, before spreads and costs. This is why a stop-loss on every trade matters even at a conservative leverage level.

Negative balance protection means you cannot lose more than the money in your account. In a violent market move, prices can jump past your stop-out level and the account can briefly go below zero. With protection, the broker absorbs that loss. Without it, you could owe money. Rules differ by country and by the company that holds your account. Do not assume you have it. Look for the clause in your client agreement, and if it is not clear, ask support and keep their written answer.

We could not confirm in our record whether negative balance protection applies to your account. Ask support to confirm it in writing.

CMC Markets' own warning says that 68% of retail investor accounts lose money when trading spread bets and CFDs with CMC Markets. Put another way, more than two out of three accounts lose money. That is a strong reason to learn first and trade small.

Big news releases move prices fast. Interest rate decisions, jobs reports and inflation data can make spreads widen suddenly and orders fill at worse prices. If you are new, the safest move is to stay out of the market for a few minutes around these events. If you do trade them, use a smaller size than usual and accept that the price you click may not be the price you get.

Who is CMC Markets best for?

CMC Markets may suit you if:

• You value strong regulation and are served by the UK company, CMC Markets UK plc.
• You want a broker's own platform, Next Generation, as well as MT4 and TradingView.
• You like a conservative leverage cap of 30:1.
• You want to open an account without a minimum deposit.
• You prefer to see the broker's own loss figure, 68%, displayed openly.

CMC Markets may not suit you if:

• You want very high leverage. The retail cap in our record is 30:1.
• You live in a country the UK company does not serve, and you cannot confirm which company would serve you.
• You need a clear list of payment methods and withdrawal times before you start. We could not confirm them.
• You want MT5. Our record lists MT4 only.

Test customer support before you need it. Send a simple question through live chat or email, such as which company holds accounts for your country, and see how long it takes and whether the answer is clear. Ask for written confirmation of anything that affects your money. A support team that answers precisely when you are a prospect tends to be a better sign than one that only sends general links.

How to open a CMC Markets account

1. Type the CMC Markets address yourself: https://www.cmcmarkets.com. Do not use a link from an advert or a message.
2. Select your country. If your country is not available, stop here and ask support whether you can be accepted.
3. Start the application and enter your details exactly as they appear on your ID.
4. Choose the product and platform you want, such as CFDs with Next Generation. Try the demo first.
5. Upload your identity and address documents.
6. Read the client agreement and note the company name, the regulator and the complaints process.
7. Turn on two-step verification on your account and your email.
8. Fund the account with a small amount by a method you can also withdraw to.
9. Place a tiny trade with a stop-loss, then test a small withdrawal.

Fake copies of broker websites exist. Before you log in, check the address in your browser. It should be the broker's real domain, spelled exactly right, and begin with the secure padlock prefix. Bookmark the correct address after you first reach it from a trusted source, and use the bookmark every time. Never log in from a link in an email, an advert or a chat message, because that is how many people lose their passwords.

Turn on two-step verification for your trading account and your email as soon as you can. It means that a stolen password alone is not enough to get in. Use an authenticator app rather than text messages when the broker offers it. Use a different password for the broker than for any other service, and let a password manager remember it. These two steps stop most account takeovers.

Keep a simple trading journal. For each trade, write down the date, the pair, the size, why you entered, where your stop-loss was, and how it ended. After a month, read it. You will quickly see which habits cost you money. A journal also records your broker's behaviour: slow fills, strange spreads, delayed withdrawals. If you ever need to make a complaint, those notes become your evidence.

The fine print

These are the points we would read in CMC Markets' documents before trading.

• Which company holds your account. The licence in our record is for CMC Markets UK plc.
• Product type. Spread bets and CFDs have different rules and different tax treatment in some countries.
• Spread units. CMC Markets quotes forex spreads in points. Check how a point relates to a pip.
• Leverage. 30:1 for UK retail traders. Confirm what applies to you.
• Funding and withdrawals. We could not confirm methods, times or fees. Ask for them in writing.
• Financing and other fees. Read the financing and fees pages for your instrument.

Many brokers charge an inactivity fee if you do not trade or log in for a long period, or close accounts that stay unused. The rules differ by broker and by account type. Look for the clause in the fee schedule, and if you plan to take a break from trading, withdraw the balance you do not need or ask support what applies to your account. Check also whether there are fees for withdrawals, for bank transfers or for converting currency.

Bonuses and promotions deserve a careful read. A deposit bonus often comes with conditions, such as a trading volume you must reach before you can withdraw the bonus or the profits made with it. Some regulators in major markets ban deposit bonuses for retail clients altogether. If a broker offers one in your country, read the full terms first, and ask yourself whether you would still choose this broker without the bonus. If the answer is no, skip it.

Profits from trading may be taxable where you live, and the rules differ from country to country. The broker does not usually calculate your tax for you. Download your account statements regularly, keep them with your journal, and ask a local tax adviser what you must report. Doing this early saves a lot of stress later.

How we write these reviews matters for how far you can trust them. We only state facts that come from the broker's own website or from a regulator's register, and we link the source. Where a broker does not publish a number, we say so instead of guessing. We do not accept payment to change a verdict. Because brokers change their terms from time to time, treat our review as a starting point and confirm the key points on the broker's website the day you register.

Sources for this review are CMC Markets' own pages, linked in our broker record: its account comparison pages, its FAQ on comparing accounts, its forex trading platform page, its page comparing Next Generation with MetaTrader 4, and its regulations page. Facts were checked on 2026-10-16.

Our final verdict

CMC Markets is a regulated broker with an FCA-authorised UK company, a platform of its own, MT4 and TradingView, no minimum deposit to open an account, a forex spread from 0.7 points, and a conservative retail leverage cap of 30:1. It also shows its own loss figure openly: 68% of retail accounts lose money.

The limits are clear. Our record covers the UK company, and we could not confirm that it serves clients in your region. We also could not confirm payment methods, withdrawal times, commissions or account type names, so we leave them out.

Our advice: first confirm that CMC Markets accepts clients from your country and which company would hold your account. If it does, check that company on the regulator's register, try the demo, and test deposits and withdrawals with a small amount.