CMC Markets is one of the oldest brokers in the world founded in 1989 in London. The broker was one of the first to offer spread betting and we compared their spread bet account to the 15 other brokers based on trading fees, platforms offered and tradable instruments.
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CMC Markets Summary
After opening accounts and comparing features of the 16 spread betting platforms in UK we found CMC Markets to be the 7th worse spread bet offering . We made this poor evaluation based on the lack of trading platform choice (for example MT4 isn’t offered) and the fact that their trading fees are considerably higher than Pepperstone or ThinkMarkets.
On the plus side, CMC Markets offers an exceptional range of 12,000 financial markets and excellent spread bet trading conditions on its NGEN platform. I didn’t experience any issues with my bets filling and issues like slippage. If you are new to spread betting, I think CMC Markets offers a decent starting point but more advanced traders may consider some of the superior providers available.
69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Low spreads are something you need to look for as a trader, as this really impacts your profits (and losses). CMC Markets advertises low spreads on its spread betting account, so I opened an account to test them based on an average trading session.
I tested the spreads using CMC Markets’ live spread betting account and monitored them over 24 hours, capturing all the major trading sessions to determine what spreads I could typically get.
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Spread Bet Spreads
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0.80 | 2.20 | 1.40 | 0.80 | 1.90 |
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0.60 | 1.10 | 1.00 | 0.70 | 1.30 |
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0.90 | 1.20 | 1.40 | 1.10 | 1.80 |
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0.80 | 1.20 | 1.40 | 1.40 | 1.90 |
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0.85 | 1.40 | 1.40 | 0.82 | 1.77 |
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1.40 | 1.50 | 1.50 | 1.00 | 2.40 |
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1.10 | 1.30 | 1.40 | 1.40 | 1.60 |
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0.60 | 1.50 | 1.30 | 0.60 | 2.00 |
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0.90 | 1.70 | 1.00 | 0.80 | 1.90 |
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1.20 | 1.80 | 1.70 | 1.10 | 2.70 |
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0.90 | 1.20 | 1.30 | 1.10 | 1.80 |
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0.80 | 1.00 | 1.00 | 1.00 | 2.50 |
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1.40 | 1.10 | 1.60 | 1.40 | 1.00 |
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0.80 | 1.20 | 1.10 | 1.10 | 1.90 |
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1.40 | 1.60 | 1.80 | 2.10 | 1.80 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 07/01/2025
Based on my testing, I think CMC Markets’ spread betting account spreads are fairly competitive, mirroring those of the rest of the industry.
The broker is below the industry average on some of the pairs I looked at, even though they do exceed the average in other areas.
You can learn more about my spread testing in the table below.
| CMC Markets Average Spread | Average Industry Spread | |
|---|---|---|
| EUR/USD | 0.8 | 1.0 |
| AUD/USD | 0.8 | 1.1 |
| EUR/GBP | 2.2 | 1.4 |
| GBP/USD | 1.4 | 1.3 |
| USD/JPY | 0.9 | 1.3 |
| AUD/JPY | 1.7 | 2.1 |
| EUR/JPY | 1.8 | 2.2 |
| USD/CAD | 1.9 | 1.9 |
| USD/SGD | 2.5 | 3.6 |
Our senior analyst, Ross Collins, offered some insight into what this means:
“While testing the account, we found that the broker’s spreads averaged 0.8 pips on EUR/USD, and GBP/USD hovered around its minimum spread (1.4 pips) during most of the UK trading session,” Ross said.
“These spreads put CMC among the lowest-spread accounts I’ve seen, providing reasonably tight spreads during peak trading times. I’m confident you’ll have a similar experience.
I created a handy fee calculator tool to help you compare CMC with their main competitors.
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I found that CMC Markets’ spreads are also generally low across the board, with tighter spreads on gold and stock indices. The FTSE 100 has minimum spreads of just 1 point, and gold spreads can be as low as 0.20, making them a decent option for trading in these markets.
There will be overnight holding costs if you keep your open positions past the end of the trading day. This is fairly standard practice among brokers.
CMC offers even lower spreads if you have an account with £25,000 or more, which gives you access to the broker’s Alpha program. This program can reduce your spreads by a 5-40% discount, depending on your monthly trading volume.
I liked that I could use the broker’s tool to see exactly how much I would save with the Alpha program. It showed me that, if I met the program’s requirements, I could get spreads as low as an impressive 0.50 pips on EUR/USD – a huge discount.
With CMC Markets, you can also trade Shares. I’ve compared the fees of each market, with the broker having lower fees than the industry average on most – except for its slightly greater fee on US shares.
| Share Category | CMC Markets Spread | Industry Average |
|---|---|---|
| UK Shares | 2pt | 5.19pt |
| US Shares | 0.20% | 0.16% |
| Geman Shares | 0.10% | 0.15% |
| Hong Kong Shares | 0.18% | 0.20% |
| Australian Shares | 0.10% | 0.17% |
Verdict on CMC Markets’ Spreads
After taking the time to compare CMC Markets’ spreads with those of the rest of the industry, it is clear that the spreads available are among the lowest, especially for EUR/JPY and gold markets.
I think having an opportunity to lower your spreads through the Alpha program is also a nice touch, which is an attractive option if you are a high volume trader.”
I used my spread betting account to test the spread betting platforms on CMC Market, which offers two options, the proprietary CMC Markets platform NGEN, and MT4.
I think CMC Markets’ NGEN web platform is one of the best proprietary platforms I’ve tested, and I think it will tick plenty of boxes if you like to use technical analysis to find new ideas.
During my time using the platform, I found it offered all the main features you’d expect, plus some advanced features. There are over 60 indicators, like Ichimoku clouds, and a decent selection of drawing tools.
What stood out to me were the price action and chart pattern recognition indicators that you can overlay on your charts. These indicators automatically plot the patterns with stop loss, entry, and take profit levels. These are excellent additions, providing an automated way to identify popular patterns quickly.
I also found that you can use the price recognition tool as a market screener, allowing you to search for markets that currently fit (or are developing) your price action or chart pattern criteria. This screener is helpful for identifying new trading opportunities, especially if you’re into day trading.
The only negative aspect of the NGEN platform is its inability to automate spread bets. However, I don’t see this as a major drawback, since MT4 is available if you prefer that trading style.
CMC Markets also offers MetaTrader 4 for spread betting, which, surprisingly, most brokers lack. I like that CMC provides a popular third-party platform as an alternative to CMC’s NGEN platform.
MT4 has over 30 built-in indicators and the ability to create custom ones, allowing you to customise your trading experience and spread betting strategies completely. One of the key selling points of MetaTrader 4 is that it is currently the only way to automate your spread betting strategies on CMC, thanks to its Expert Advisors.
However, it’s worth noting that MT4’s old infrastructure prevents it from providing share prices. So, if you want to spread bets on shares, I recommend sticking with the NGEN platform.
Premium Tools for MT4
CMC Markets offers a suite of premium tools for MT4 that significantly enhance its functionality. In my testing, these tools upgraded MT4 with modern features, making account administration and trade management much faster and more efficient.
One standout feature I appreciated was the Trade Terminal. This feature is also a favourite of my SpreadBet co-founder, Noam Korbl, who said this about the tool:
“If you have multiple bets open simultaneously, the standard MT4 platform requires you to edit each trade manually, which can be time-consuming,” Noam said.
“With the Trade Terminal, I can edit all positions with a single click. I think this feature is great for scalpers looking to maximise returns or cut losses.”
Other plugin tools include:
I found these tools to be a solid quality-of-life upgrade to the standard MT4 experience. They offer features that can streamline your trading process, and potentially improve your decision-making.
Mobile Trading Apps
CMC Markets provides the NGEN and MT4 mobile apps for spread betting, so you’ll be able to easily monitor the markets while you are away from your desktop.
You can access the apps on both iOS and Android devices for free. You can also use your CMC Markets account to access the platforms and link your account to them.
I found that NGEN is the best mobile trading platform as it shares most of the same features as the desktop version. It allows you to perform technical analysis on the go with the same tools you’d use on a desktop.
In contrast, the MT4 trading app only offers basic features, account admin, and limited indicators compared to the desktop platform. Plus, you cannot automate your trades on the MT4 mobile app. This feature is available on the desktop version only.
Verdict On CMC Markets Trading Platforms
“I’ve used multiple platforms developed in-house by brokers, and I think the NGEN web platform stands out as one of the best proprietary platforms I’ve used.
The platform is a solid option for spread betting with its advanced charting tools and pattern recognition features. While it lacks automation capabilities, this is offset by the availability of MT4.
With that said, I think CMC Markets has something to offer every type of spread bettor, and I’d recommend trying out both their platforms to see which one suits your needs best.”
Yes, CMC Markets is safe. It is one of the largest spread betting brokers in the UK and is fully regulated by the Financial Conduct Authority (FCA). I found the broker is regulated by 6 Tier-1 authorities and is listed on the London Stock Exchange, so I gave it a trust score of 85/100.
The FCA regulates CMC Markets – just like it regulates all of the brokers on our list. This means your funds are segregated from the company’s operational accounts, and you’re protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
What stood out for me was CMC Markets’ multiple licences across six Tier-1 financial regulators. This level of oversight is a strong trust signal, as it demonstrates that various regulatory bodies have approved the broker’s operations, so you can trust that you’ll have a secure trading environment.
Here’s a list of CMC Markets’ regulators:
Another aspect that cements CMC Markets’ safety record in my eyes is its status as a publicly traded company on the FTSE 250. Very few brokers achieve this level of transparency and accountability.
As it is listed on the London Stock Exchange, CMC Markets must adhere to FCA regulations and stringent requirements for publicly listed companies.
| CMC Markets Safety | Regulator |
|---|---|
| Tier-1 | ASIC FCA BaFin FMA CIRO MAS |
When it comes to reputation, I believe CMC Markets’ 34 years of operation speaks volumes for the company, and makes them one of the most experienced spread betting brokers in the industry. The broker has used this extensive industry experience to create a safe and solid trading environment.
What impresses me is its client base of over 1,000,000 traders worldwide. This is one of the largest I’ve seen among the brokers I’ve tested, and it’s a strong indicator of the quality of the broker’s services. After all, why would so many traders choose CMC Markets if they weren’t delivering?
As part of my review process, I always check Trustpilot scores to get a sense of other spread bettors’ experiences. I find this helps validate (or sometimes challenge) a broker’s reputation.
In CMC Markets’ case, I was pleased to see that as of January 2025 they’ve achieved a 4.0 out of 5 score on Trustpilot, based on 2,245 reviews. This solid score aligns with my positive impressions of the broker.
Verdict on CMC Markets’ Trustworthiness
I believe CMC Markets is a safe and trustworthy broker that has earned its reputation as one of the UK’s largest and most respected spread betting brokers. I would have no concerns about the safety of my money or personal information with the broker, and it’s as legitimate and secure as they come, in my opinion.
I was impressed with the number of markets CMC offers on its spread betting platform, with over 12,000 financial instruments covering all major markets, including complex instruments.
This is a good sign of a top broker, as typically, brokers that offer both CFDs and spread betting lean more towards trading CFDs. So brokers may reduce their spread betting markets significantly, and it’s good that CMC supports both forms of trading almost equally.
I found that the broker offers over 338 currency pairs, including major, minor, and exotic options, and CMC easily provides the best selection of currency markets I’ve encountered in my testing.
However, I noticed many of these options are reverse cross pairs like USD/GBP. While this can be beneficial for traders looking for specific directional trades or hedging opportunities against volatility, I personally don’t think many traders would use the majority of these reverse pairs.
That said, having such a comprehensive range does provide flexibility for those who need it.
For commodities, I found CMC Markets provides a solid range of 33 markets, covering everything from agriculture to precious metals.
With seven energy markets, 6 metal markets (including gold and silver), and 20 soft commodity markets, I found the selection covers the major markets that most would benefit from.
I think CMC Markets shines when it comes to stock indices, offering an impressive 82+ markets to choose from. I found this selection comprehensive, covering major global indices and more niche regional options such as South Africa’s index.
In my opinion, this range is more than sufficient for most, whether you’re looking to trade indices like the S&P 500, or seeking exposure to emerging markets.
With over 9,000 share markets available, CMC Markets offers the second-largest choice of shares I’ve reviewed in my tests. I was impressed by the selection available for share trading, including big names like Apple, Amazon, and Tesla, as well as UK and European stocks.
This extensive selection allows you to take advantage of spread betting’s leverage and day trade multiple stocks.
CMC Markets is one of a handful of brokers I’ve tested that offers ETFs for spread betting, with over 1,000 markets. I find this a significant advantage, as ETFs provide a great way to gain exposure to entire sectors or regions with a single trade. This can be particularly useful for those seeking to implement more sophisticated trading strategies or hedge existing positions.
An area in which CMC Markets excelled was its 55 bond and fixed-income markets, covering government bonds and interest rates from the US, UK, Europe, and Asia-Pacific regions. While not the most popular instruments, bonds and treasuries are good for experienced traders.
Our Verdict On CMC Markets Trading Products
I think CMC Markets is one of my top choices for trading products. With over 12,000 financial instruments covering nearly every asset class, CMC Markets caters to all types of spread bettors.
While not every trader needs access to such a huge range of markets, I think choice and flexibility are CMC’s major selling points.
During my tests, I examined the funding and withdrawal operations. As a trader, you want a professional and quick process, ensuring there is no friction when getting your funds.
I like that CMC Markets has a £0 minimum deposit requirement. I believe brokers shouldn’t force you to deposit more than you can afford just to meet minimum requirements, so I appreciate that CMC Markets doesn’t apply any minimum.
This allows you to get started with an amount you’re comfortable with, something that I think is beneficial if you are just starting out.
When I opened my live account at CMC Markets, I found the deposit process straightforward and easily accessible through your CMC account. It takes 1-2 business days for the funds to clear, but apart from that, it was a very easy request. Plus, CMC Markets charges no deposit fees.
However, I was only able to choose between depositing via debit card or bank transfer. While these are secure methods, I think additional options like electronic wallets (e.g. Skrill or PayPal) would provide more flexibility and convenience for making deposits. More choices are always better, in my opinion.
For withdrawals, CMC Markets offers the same methods as it does for deposits in the UK, which can typically take up to 2 business days to complete. However, when I tested this, I was pleasantly surprised that my withdrawal was approved, and the money was in my account within two hours.
Keep in mind that your withdrawal times may vary depending on the method you used to deposit. In my case, I had deposited via debit card. It’s important to note that CMC Markets doesn’t charge any withdrawal fees directly, though the card provider may apply their own fee.
Opening a spread betting account at CMC Markets was a smooth process in my experience. As with all brokers, you must answer questions about your financial status and trading experience. This is mandatory to ensure spread betting is a suitable financial product for you, as the FCA requires the broker to ask these questions.
The application is completed entirely online, although you can call their support team if you prefer to do it over the phone or by post. It took me just a few minutes to fill out the questionnaire and submit the necessary documents for the account. I was impressed with the speedy approval, and my account was opened within 2 hours, although this timeframe may vary for each user.
Verdict On CMC Markets Funding
I’m a fan of CMC Markets’ fast funding and withdrawal options, allowing you to easily move funds from your spread betting account to your bank account with zero hidden fees. While I’d like to see a few more deposit methods added, the essentials are well-covered and work smoothly.
When it comes to spread betting, execution speed can make or break your trading experience. I found CMC Markets to be quite impressive in this regard. CMC offers decent execution speeds, which is crucial when spread betting.
Execution Type
CMC Markets is a market maker, which is standard for a spread betting provider in the UK. As a market maker, CMC provides liquidity directly, allowing for some of the fastest execution speeds around, since you’re dealing directly with the broker rather than being matched with other bettors.
Trading Experience
During my testing, I found the betting experience with CMC Markets was smooth. I didn’t encounter any lag or slow execution times, nor did I experience any slippage or requotes, which is great to see.
The execution speed felt almost instant, which should be the case, considering the broker is a market maker. Issues like slippage should be rare, especially with a quality broker like CMC Markets.
Verdict on CMC Markets’ Trading Conditions
Fast execution speeds and excellent trading conditions are essential when choosing a broker, so I was pleased to find CMC Markets easily met my expectations. I think the broker’s market maker services provide a reliable trading environment without sacrificing trading costs.
CMC Markets offers reliable and experienced customer service, operating 24/5 during the trading week. While they offer multiple contact methods, I was surprised to discover they don’t provide live chat support, which is uncommon for the brokers I’ve tested.
Instead, CMC has opted for a 24/5 phone call service, which I actually think is better. When I called in, the waiting times were impressively short, and I was able to connect with an agent quickly.
Alternatively, email support is available if you prefer written communication, though it’s not ideal for urgent requests. CMC Markets also maintains a comprehensive help centre packed with answers to commonly asked questions, which I found quite useful for quick problem-solving.
Our Verdict On CMC Markets Customer Service
Even though CMC Markets lacks a live chat, I think focusing on phone support has paid off, as they provide a swift response and can diagnose issues in real time instead of waiting on delayed messages.
I personally prefer phone support, so CMC Markets impressed me with this category, especially considering that call support is 24 hours a day.
CMC Markets provides a decent selection of educational resources through its “Learn hub” and research via online articles. Surprisingly, most of its research and education are provided in-house by its analysts, who offer unique insights to CMC clients.
I found that CMC Markets offers timely market updates written by its in-house analysts. They cover the biggest developments to help keep you in the loop on what’s moving the markets.
The ”Week Ahead” articles were interesting to read, and provide an outlook for the coming week. I think readers will find this useful for planning their bets and getting a sense of the key events and trends to watch.
The research articles are in-depth and use data from Bloomberg to back up the analysis, so you’re getting professional-grade insights for free, which is a big positive in my book.
As for educational content, I found the CMC Markets’ Learn Hub to be comprehensive and well-structured. The broker covers the fundamentals of trading thoroughly and offers in-depth trading guides on various strategies and technical analysis.
What stood out to me was the level of detail in the content. The broker doesn’t just skim the surface but dives deep into each topic, providing numerous examples to illustrate key points.
I believe this approach makes it an excellent resource, especially if you’re just starting your trading journey. The clear explanations and practical examples help bridge the gap between theory and real-world application, which I find crucial if you are a beginner.
Our Verdict On CMC Markets Research and Education
In my opinion, CMC Markets excels in both research and education from my testing. The combination of professional-grade market analysis and comprehensive educational resources creates a powerful toolkit for spread bettors that you won’t find with any other broker.
After testing the broker’s spread betting conditions, I’d place CMC Markets as one of the better ones I’ve used.
I was impressed with the competitive spreads and fast execution, and I think the NGEN platform offers a decent technical analysis experience that matches (if not excels) MetaTrader 4. The broker has also done a great job facilitating a range of premium tools and professional research that go above and beyond most brokers’ capabilities.
69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The spreads of CMC Markets vary across its markets, but I found they offer minimum spreads of 0.80 pips on EUR/USD and AUD/USD. These spreads are consistent throughout the markets, with tight spreads on indices, including the FTSE 100, from one point.
Spread betting is a type of financial derivative that allows you to speculate on financial markets without owning the underlying asset. Instead of buying contract sizes like with CFDs, you place a stake to win (or lose) per point of price movement, and you will profit from every point you are accurate about.
The major selling point for spread betting is that it is tax-free, meaning you won’t pay capital gains tax or stamp duty on your bets.
When you spread bet, you will trade on leverage. This essentially means you’re borrowing money from the broker to control a larger position. While all FCA-regulated brokers offer negative balance protection, there’s still a high risk of losing money rapidly with leverage.
Opening a spread betting account with CMC Markets is straightforward. You’ll need to visit their website, choose the account type, provide personal information, and verify your identity.
The whole process can be completed online, and I found that I could open and fund the account within hours of my application being approved.
For beginners, CMC Markets offers a demo account with £10,000 in virtual funds to practice risk-free. With this account, you can test your strategies or learn how to use the NGEN platform without risking a penny.
You also have access to an excellent range of educational resources, including webinars and tutorials. They also provide risk management tools like guaranteed stop-loss orders, which I believe are crucial for new traders.
The main difference between CFD and spread betting markets is tax treatment. Spread betting profits are tax-free in the UK, while CFD profits are subject to capital gains tax.
Additionally, all your spread bets are placed in GBP no matter which asset you trade, so you save on currency conversion fees and reduce your risk of currency fluctuations.
No, CFDs are not spread betting. CFD trading and spread betting are different financial products that are available to speculate on the price direction of an underlying asset.
While both allow leveraged trading on price movements, I’ve found that the key difference lies in their tax treatment, as spread betting is tax-free and how they’re structured. CFDs involve contracts, while spread betting is based on stakes per point movement.
Ask an Expert
How does CMC Markets’ platform perform for spread betting?
CMC Markets’ platform is known for its advanced features and performs well for spread betting, especially for experienced traders.
Are CMC Markets’ spreads competitive compared to other brokers?
Yes, CMC Markets offers competitive spreads, particularly on forex and indices, making it attractive for spread bettors.