⚡ CMC Markets in a nutshell
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Next Generation — CMC's award-winning platform. The Next Generation platform offers 115+ technical indicators, pattern recognition, and a customisable workspace that rivals professional platforms.
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10,000+ instruments. One of the widest instrument ranges available — more than IG in certain asset classes. Includes hard-to-find international equities.
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Tax-free spread betting (UK). Like IG, CMC offers UK spread betting — profits tax-free for UK clients. Available on the full 10,000+ instrument range.
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EUR/USD from 0.7 pips. CMC is typically more competitive than IG on forex spreads and comparable to OANDA — a meaningful advantage for FX-focused traders.
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£10/month inactivity fee after 12 months. Standard 12-month window — less aggressive than Capital.com or Plus500 but still worth monitoring.
⚠️ What to watch out for
- ⚠ £10/month inactivity fee after 12 months of no activity
- ⚠ Spread quality on some instruments less competitive during off-peak hours
- ⚠ 71% of retail clients lose money — complex products with high risk
- ⚠ Account opening can take 1–2 business days (more thorough verification than some competitors)
WhichBrokr Category Ratings
Overview
CMC Markets was founded in 1989 in London by Peter Cruddas and listed on the London Stock Exchange in 2016 (ticker: CMCX). With 35 years of operation across spread betting, CFDs and institutional services, CMC is one of the most established retail trading providers. Regulated by FCA, ASIC, BaFin and MAS, it serves 300,000+ clients globally with access to 10,000+ instruments.
The Next Generation platform is CMC's key differentiator — a proprietary web and mobile platform with 115+ technical indicators, built-in pattern recognition, market sentiment tools, and a fully customisable multi-chart workspace. It's the most powerful proprietary retail CFD platform in the UK market, competing with institutional-grade tools while remaining accessible to retail users.
CMC Markets is particularly strong for UK traders via spread betting (tax-free profits) and for traders who want excellent platform quality at competitive spreads. The 10,000+ instrument range gives access to markets that IG and Pepperstone don't cover. The main drawbacks are the inactivity fee and slightly thicker spreads than Pepperstone on some FX pairs.
Pros & Cons
✅ Pros
- Next Generation platform — best retail CFD platform UX in the UK market
- 10,000+ instruments — one of the widest ranges available
- Tax-free spread betting for UK clients
- EUR/USD from 0.7 pips — competitive for major forex pairs
- No minimum deposit
- FCA + ASIC + BaFin + MAS regulated
- LSE listed (CMCX) — financial transparency
❌ Cons
- £10/month inactivity fee after 12 months
- Not as tight as Pepperstone on forex during off-peak hours
- Spread widening on some equities and minor pairs
- No real stock ownership — CFD/spread bet only
- Limited educational content vs. IG Academy
🔍 Broker Audit Report
A structured assessment across 5 pillars — regulation, tax/legal, costs, features and platform accessibility. Updated July 2026.
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1. Legal Entity & Capital Protection
CMC's 35 years of regulatory track record
Licensed Entity
CMC Markets UK plc (FCA) · CMC Markets Asia Pacific Pty Ltd (ASIC) · CMC Markets Germany GmbH (BaFin) · CMC Spreadbet plc (FCA spread betting). LSE listed: CMC Markets plc (CMCX).
Regulators
FCA (UK) · ASIC (AU) · BaFin (DE) · MAS (SG) · FMA (NZ) · MAS (SG)
Client Protection
UK: FSCS up to £85,000. EU: ICF up to €20,000. Client funds in Barclays and other tier-1 UK banks, segregated.
Financial Strength
LSE listed — quarterly financial reporting. One of the oldest publicly listed retail trading firms. S&P credit-rated.
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2. Tax — Spread Betting Advantage
Tax treatment for UK clients
Spread Betting (UK)
✅ Tax-free Profits from CMC spread betting are exempt from UK Capital Gains Tax and Income Tax. Available on the full 10,000+ instrument range.
CFD Tax
CFD profits subject to CGT in the UK. CMC provides annual statements for tax filing.
Tax Wrappers
No ISA, SIPP or other wrappers. For tax-advantaged investing, use spread betting (UK) or a separate ISA broker.
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3. Total Cost of Ownership
CMC spreads and non-trading fees
Forex Spreads
EUR/USD: from 0.7 pips. GBP/USD: from 0.9 pips. Competitive vs. IG (0.6 pips) — comparable, slightly wider on some pairs.
Index Spreads
UK 100: from 1 point. Wall Street: from 1.6 points. Germany 40: from 1 point. Competitive.
Non-Trading Fees
Inactivity: £10/month after 12 months. Deposit: Free. Withdrawal: Free. No custody fee.
Overnight Financing
Charged on leveraged positions. Standard LIBOR/SOFR-based rates. Displayed on platform for each instrument.
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4. Asset Catalogue — 10,000+ instruments
One of the widest ranges in retail trading
Indices
~90 global indices
Forex
~330 currency pairs (major, minor, exotic)
Stocks (CFD/Spread bet)
~9,000 stocks globally
Commodities
Metals, energy, agriculture — extensive range
Crypto CFDs
~15 crypto pairs
Treasuries & Bonds
Government bonds via CFD
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5. Platform — Next Generation
CMC's award-winning proprietary platform
Web Platform
✅ Next Generation — 115+ indicators, pattern recognition, sentiment tools, customizable workspace
Mobile App
✅ iOS 4.3★ / Android 4.2★ — mirrors Next Generation functionality on mobile
MetaTrader 4
✅ Available alongside Next Generation for MT4 users
Chartiq / Pattern Recognition
✅ Built-in automated pattern recognition — unique retail feature
Market Sentiment
✅ Client sentiment data built into platform
Demo Account
✅ Unlimited virtual funds for full platform access
Fees 3.9 / 5
CMC Markets is competitively priced across its range. EUR/USD from 0.7 pips and indices from 1 point make it competitive for UK and EU traders.
| Fee type | CMC Markets | Market Average |
|---|
| EUR/USD spread | 0.7 pips | 0.6–1.5 pips |
| UK 100 spread | 1 point | 1–2 points |
| Stock CFD (major US) | From 0.015% | 0.07–0.2% |
| Inactivity fee | £10/month after 12 months | £5–€15/month |
| Deposit / Withdrawal | Free | Free–€5 |
Safety & Regulation 4.4 / 5
| Regulators | FCA, ASIC, BaFin, MAS, FMA |
| LSE Listed | CMCX — quarterly reporting |
| UK protection | £85,000 FSCS |
| Client funds | Barclays + tier-1 UK banks (segregated) |
| Operating since | 1989 |
| Incidents | No major regulatory fines |
Products & Asset Catalogue 4.5 / 5
| Forex | ~330 pairs |
| Indices | ~90 |
| Stocks (CFD) | ~9,000 |
| Commodities | Extensive |
| Crypto CFDs | ~15 |
| Treasuries | ✅ Via CFD |
What investors say about CMC Markets
Community voice — strengths & concerns
Most praised
- Next Generation platform praised as the most feature-rich proprietary retail CFD platform in the UK
- Spread betting tax advantage widely valued by UK traders
- 10,000+ instrument range — "only CMC has the obscure index I want"
- 35 years of clean regulatory record creates strong trust
- Pattern recognition feature appreciated by technical analysts
Common complaints
- Inactivity fee catches users who take a break from trading
- Account verification can be slow (1–2 days)
- Spreads on some instruments (minor forex, exotic equities) less competitive than IG or Pepperstone
- No real asset ownership
Based on user reviews on Trustpilot, Reddit, App Store and Google Play ratings. Data collected Jan–Jun 2026.
Verdict
WhichBrokr's Take
CMC Markets offers the strongest combination of platform quality, instrument range and regulatory standing in the UK CFD market. The Next Generation platform genuinely rivals professional tools, and 37 years of FCA-regulated operation with a clean record is a significant trust signal. For UK traders who want tax-free spread betting across 10,000+ markets with the best proprietary platform available, CMC is a top choice.
The main trade-offs are spreads (slightly above Pepperstone on some FX pairs) and the inactivity fee. Active traders who use the platform regularly will find these minor compared to the quality of execution and tools received.
Best for: UK spread bettors, traders wanting the best proprietary platform, and investors who need access to obscure international markets. Not ideal for: Algorithmic traders (use Pepperstone + MT4), pure forex cost optimisers (Pepperstone Razor), or real stock investors.
Frequently Asked Questions
| Is CMC Markets safe? | Yes — regulated by FCA (UK), ASIC (AU), BaFin (DE) and MAS (SG). LSE listed (CMCX). UK clients protected by FSCS up to £85,000. 37-year clean regulatory record. |
| Does CMC Markets offer spread betting? | Yes — tax-free spread betting for UK clients on 10,000+ instruments including stocks, indices, forex, commodities and crypto. |
| What platforms does CMC offer? | CMC's own Next Generation platform (web and mobile) plus MetaTrader 4. No MT5 or cTrader. |
| What is the inactivity fee? | £10/month after 12 months of no trading activity. |
Ready to open a CMC Markets account?
10,000+ instruments · Next Generation platform · Spread betting (UK) · EUR/USD from 0.7 pips
Open CMC Markets Account →
67% of retail investor accounts lose money when trading spread bets and CFDs.