CMC Markets Alternatives

Category: Broker Guides | Author: Trading Brokers | Date: July 12, 2023

CMC Markets is a renowned broker, but exploring alternative options can provide traders with a broader range of choices to suit their trading needs. In this article, we present some of the best alternatives to CMC Markets, offering competitive trading conditions, diverse markets, and robust platforms. By considering these alternatives, traders can evaluate different features and find a broker that aligns better with their specific preferences and objectives.

Overview of CMC Markets

CMC Markets is an online trading platform that allows users to trade spread betting and CFDs on over 10,000 markets, including forex, stocks, indices, commodities, cryptocurrencies, and treasuries. It was founded in 1989 and is headquartered in London, UK. It is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, the Monetary Authority of Singapore (MAS) in Singapore, and other regulators in various jurisdictions. CMC Markets offer an award-winning, user-friendly, and innovative trading experience. It also provides free trading education, market analysis, risk management tools, multiple chart types, technical indicators, and drawing tools. Additionally, it has a large and loyal client base of over 60,000 active clients worldwide and a high average quarterly trading volume of over $400 billion. It also offers competitive pricing and low costs, such as tight spreads, low margins, and no commission on spread betting. It also offers a variety of trading platforms, including Next Generation, TradingView, MetaTrader 4, and APIs. It also offers a free demo account for potential clients to test their services. However, it also has some drawbacks, such as not offering real stocks or ETFs, only spread betting and CFDs, not offering negative balance protection for clients outside the UK, not offering a robo-advisor service or a copy trading feature, and having a limited customer support service, which is only available via phone, email and live chat during market hours. Therefore, CMC Markets is a reputable and regulated platform that offers a diverse and innovative trading experience for spread betting and CFD traders of different levels and preferences, but not everyone’s.

CMC Markets Logo

Established in 1989, CMC Markets offers a great selection of over 10,000 trading instruments on sophisticated and versatile trading platforms. They also provide comprehensive analysis, trading tools and educational materials.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Best Alternatives to CMC Markets

When searching for the best alternatives to CMC Markets, several options stand out. These alternatives offer a wide range of features, services, and regulatory oversight to cater to the needs of traders and investors. Let’s delve into the details of the top alternatives.

Forex.Com

Forex.com, a global forex and CFD broker, is part of the reputable StoneX Group Inc. The broker is regulated by renowned authorities such as the FCA, CFTC, NFA, and ASIC. Forex.com provides access to an extensive selection of over 80 currency pairs and 4,500 CFDs, including indices, stocks, commodities, and cryptocurrencies. Traders can utilize various trading platforms, including a web-based platform, mobile apps, MetaTrader 4, MetaTrader 5, and Advanced Trading Platform. With a well-organized and informative website, Forex.com offers comprehensive research and education resources, including market analysis, trading signals, webinars, courses, videos, and articles. The broker distinguishes itself with low fees for forex trades and no withdrawal fees. However, it’s worth noting that stock CFD fees can be higher, and an inactivity fee may apply.

Forex.com Logo

Since 2001, Forex.com has been providing traders around the globe with industry leading trading conditions including user-friendly platforms, tight spreads, low commission fees, rapid trade execution speeds. The broker is regulated in multiple jurisdictions and has a huge selection of trading instruments, powerful tools and educational materials.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

IG

IG, the world’s largest CFD provider, and a leading forex broker, has been operating since 1974. The broker is regulated by esteemed authorities like the FCA, ASIC, and CFTC. IG offers an impressive range of over 17,000 tradable instruments, encompassing forex, indices, stocks, commodities, cryptocurrencies, options, and more. Traders can access innovative trading platforms, including a web-based platform, mobile apps, MetaTrader 4, ProRealTime, and L2 Dealer. IG’s well-designed and user-friendly website offers a wealth of educational resources such as webinars, courses, articles, videos, and podcasts. The broker boasts competitive spreads for forex and index CFDs, along with low non-trading fees. However, some countries may experience limitations in the product portfolio, and stock CFD fees may be relatively higher.

IG Logo

IG have an impressive selection of 18,000+ instruments including Forex, Stocks, Cryptos and Commodities. You can trade via easy to use platforms for desktop and mobile apps, with low trading costs and the peace of mind that you are using one of the most well-known brokers in the industry.

71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

City Index

City Index, also part of the StoneX Group Inc., is a global CFD and forex broker regulated by the FCA, ASIC, and MAS. With over 12,000 tradable instruments, City Index covers forex, indices, stocks, commodities, cryptocurrencies, options, and bonds. Traders have access to various trading platforms, including a web-based platform, mobile apps, MetaTrader 4, and AT Pro. The broker’s well-structured and informative website provides extensive research and education resources, including market analysis, trading signals, webinars, courses, videos, and articles. City Index offers low fees for forex and index CFDs, with no withdrawal fees. However, similar to other alternatives, product availability may be limited in certain countries, and an inactivity fee might apply.

City Index Logo

City Index is a one of the world’s leading trading brokers offering thousands of financial instruments to traders worldwide. They have many years of experience, offering fast and reliable trade execution speeds, tight spreads and award-winning trading platforms.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

XTB

XTB is a global CFD and forex broker regulated by authorities like the FCA, KNF, and CySEC. With a product range comprising over 2,100 tradable instruments, including forex, indices, stocks, commodities, cryptocurrencies, ETFs, and options, XTB offers a diverse portfolio. Traders can access the user-friendly xStation 5 platform, mobile apps, and MetaTrader 4 for their trading needs. XTB’s well-developed website offers extensive research and education resources, including market analysis, trading signals, webinars, courses, videos, and articles. The broker features low fees for forex and index CFDs, with no withdrawal fees. Nevertheless, similar to other alternatives, product availability may be limited in certain countries, and an inactivity fee may apply.

XTB Logo

XTB offer superior execution on a reliable, award-winning platform, being one of the largest stock exchange-listed Forex and CFD brokers in the world - dedicated to helping you at every stage of your trading journey.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Admiral Markets

Admiral Markets, founded in 2001, is a global forex and CFD broker regulated by respected authorities such as the FCA, ASIC, and CySEC. The broker offers a diverse range of over 5,000 tradable instruments, including forex, indices, stocks, commodities, cryptocurrencies, ETFs, and bonds. Traders can utilize trading platforms like MetaTrader 4, MetaTrader 5, and MetaTrader Supreme Edition. Admiral Markets’ well-developed and informative website provides a wide range of research and education resources, including market analysis, trading signals, webinars, courses, videos, and articles. The broker boasts low fees for forex and index CFDs, with no withdrawal fees. However, it’s important to note that product availability may be limited in certain countries, and an inactivity fee may be applicable.

Admiral Markets Logo

Admirals is an award-winning and multi-regulated broker that offers a large selection of trading instruments with very competitive trading conditions on the advanced yet user-friendly MetaTrader platforms for desktop, web and mobile devices.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Conclusion

While CMC Markets is a respected broker, considering alternative options can open up new possibilities for traders. The alternatives discussed – Forex.com, IG, City Index, XTB, Admiral Markets, and AvaTrade – each have their strengths, including competitive pricing, reliable customer support, advanced platforms, and diverse market offerings. Traders should carefully evaluate factors such as trading instruments, platform features, regulations, and educational resources to determine the best alternative to CMC Markets that suits their trading requirements. By making an informed decision, traders can enhance their trading experience and potentially achieve their financial goals more effectively in the dynamic world of online trading.


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