CMC Markets started in London in 1989 and is now part of a group listed in the FTSE 250. Unlike many of its rivals, it has spent years building its own trading technology: the company says it has put more than £100 million into its Next Generation platform. In this CMC Markets review we look at the broker as of November 2026. Its strengths are a very large range of markets (around 12,000 CFDs and about 300 currency pairs) and licences from the FCA, ASIC, MAS, BaFin and other top regulators. It also offers an FX Active account with spreads from 0.0 pips. The main points to watch are the offshore Bermuda entity used for international clients and a cost structure that differs by region.
CMC Markets at a glance
| Item | Details (as of November 2026) |
|---|---|
| Founded | 1989, London |
| Group | FTSE 250 constituent (London Stock Exchange) |
| Main regulators | FCA, ASIC, MAS, BaFin, CIRO, FMA, DFSA |
| International entity | CMC Markets Bermuda Limited (Bermuda Monetary Authority) |
| Markets | About 12,000 CFDs, roughly 300 FX pairs |
| Max retail leverage | 1:200 (Bermuda entity); 1:30 under FCA/EU/ASIC retail rules |
| FX Active pricing | From 0.0 pips on six majors + US$2.50 per $100k |
| Platforms | Next Generation web, CMC app, MT4, MT5, TradingView |
Regulation and safety
CMC says it holds 11 licences across 12 offices. The entities we confirmed on CMC’s own pages are:
- CMC Markets UK plc: authorised by the Financial Conduct Authority under FRN 173730. It is based at 133 Houndsditch, London.
- CMC Markets Investments Limited: also FCA-authorised, under FRN 948126.
- CMC Markets Asia Pacific Pty Ltd: holds AFSL 238054 and issues the CFDs offered in Australia. Share dealing there is handled by CMC Markets Stockbroking Limited under AFSL 246381.
- CMC Markets Singapore Pte. Ltd.: regulated by the Monetary Authority of Singapore.
- CMC Markets Bermuda Limited: holds investment and digital asset business licences from the Bermuda Monetary Authority. This is the company behind the global “/en” website.
The group also lists regulation by BaFin in Germany, CIRO in Canada, the FMA in New Zealand and the DFSA in Dubai. Your entity decides what rules apply to you. FCA clients get negative balance protection, a 1:30 leverage cap on major FX pairs and FSCS cover. Clients of the Bermuda company can use leverage of up to 1:200, but they are supervised by a regulator that is not top-tier and do not get the UK protections. The global site is not aimed at residents of the US or Belgium.
CMC publishes the share of retail accounts that lose money. It is 69% at the UK entity and 50% at the Bermuda entity. These numbers are a useful reminder that leveraged CFDs and spread bets are high-risk products.
CMC Markets fees and spreads
CMC offers two ways to pay for forex trades. On the standard CFD account the cost is in the spread, which starts at 0.5 points on EUR/USD according to CMC’s Singapore site. The FX Active account cuts spreads on six major pairs (EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CAD and USD/JPY) to as low as 0.0 pips. In return it charges a fixed commission of US$2.50 per $100,000 notional. Spreads on the other FX pairs are 25% lower than on the standard account.
| Cost item | Standard CFD account | FX Active |
|---|---|---|
| EUR/USD spread | From 0.5 points | From 0.0 pips |
| Other FX pairs | Standard spread | 25% spread discount |
| FX commission | None | US$2.50 per $100,000 notional |
| Gold | From 0.2 points | As standard |
| Card deposits (Australia) | Free | Free |
At US$2.50 per $100,000, FX Active is one of the cheaper raw-spread deals offered by a large listed broker. Holding a position overnight adds financing charges. Independent reviews also report a £10 monthly inactivity fee after 12 months without trading, so check the current fee schedule for your entity.
Accounts and products
The range is one of the widest in retail trading. CMC says it offers about 12,000 instruments on its Next Generation platform. That includes roughly 300 FX pairs, indices, commodities, treasuries, share CFDs, share baskets and crypto CFDs. MetaTrader users get a much smaller list: over 175 FX pairs on MT4 and about 2,220 instruments on MT5. The account options are:
- CFD account: available in every region.
- FX Active: for traders who mainly trade currencies.
- Spread betting: UK only, where profits are generally free of capital gains tax for UK residents.
- Professional accounts: for eligible traders.
- Investing accounts: share dealing and ISA accounts in the UK, plus stockbroking through CMC’s Australian and Singapore investing arms.
A free demo account is available. Independent reviews report that there is no swap-free Islamic account.
Platforms and tools
The Next Generation platform, on the web and in the CMC mobile app, is the main reason to choose CMC. CMC uses it as the platform that shows its full range of markets. CMC reports a median CFD execution time of 0.018 seconds on MT4 between April 2024 and March 2025. It also says 99.29% of MT4 market orders placed while markets were open were filled at the quoted price. MetaTrader 4 is available, MetaTrader 5 is offered in some regions, and you can trade from TradingView charts. The minimum trade size is 0.01 lots.
Deposits and withdrawals
For Australian clients, CMC accepts credit and debit cards, bank transfer, PayID and PayPal. American Express, Diners, cheques and cash are not accepted. CMC does not charge for card deposits in AUD, USD or HKD. Card withdrawals are free, are limited to the amount you deposited on that card, and usually take three to five business days. The UK help centre lists cards, Apple Pay, online banking and bank transfer. The global site also lets clients fund with USDT and USDC through Binance Pay on the web platform. All payments must come from an account in your own name.
Who CMC Markets suits
Good fit: active traders who want a large, regulated broker with its own platform and a huge choice of markets. It also suits UK residents who want spread betting, and forex traders who will use FX Active’s low commission.
Less suitable: traders who need an Islamic account, traders who only use MetaTrader and want CMC’s full range, and anyone outside a top-tier region who expects FCA-level protection from the Bermuda company. US residents cannot open an account.
Final verdict
To conclude our CMC Markets review: CMC is a long-established, listed broker with strong regulation in the UK, Australia, Singapore and Germany. Its own platform is one of the best available, and FX Active makes forex trading competitive at US$2.50 per $100k. The weak points are the offshore global entity, the smaller MetaTrader range and a reported inactivity fee. Our rating is 4.5 out of 5.
Compare CMC Markets with the other top forex brokers, or read our OANDA review and XTB review.
FAQ
Is CMC Markets regulated?
Yes. UK clients are served by CMC Markets UK plc (FCA FRN 173730), Australians by CMC Markets Asia Pacific Pty Ltd (ASIC AFSL 238054), and Singaporeans by CMC Markets Singapore Pte Ltd under MAS. The group also lists licences from BaFin, CIRO, FMA and DFSA. International clients on the global site are served by CMC Markets Bermuda Limited, licensed by the Bermuda Monetary Authority.
What are CMC Markets’ spreads on EUR/USD?
On the standard CFD account, the Singapore site lists EUR/USD from 0.5 points. The FX Active account offers EUR/USD and five other majors from 0.0 pips plus a fixed commission of US$2.50 per $100,000 notional, as of November 2026.
What is the minimum deposit at CMC Markets?
CMC Markets’ own funding FAQs we checked do not publish a minimum deposit, and independent reviews list it as $0. You still need enough money to cover the margin on the trades you open.
Can I use MetaTrader or TradingView with CMC Markets?
Yes. Besides its own Next Generation web platform and mobile app, CMC offers MetaTrader 4, MetaTrader 5 in some regions, and trading from TradingView charts.
How many CMC Markets clients lose money?
CMC’s mandatory risk warning says 69% of retail investor accounts lose money with the UK entity, and 50% with the Bermuda-based global entity. These figures are updated regularly.
Facts compiled on 8 November 2026 from the official website, regulator registers and independent reviews listed in the sources. Fees and conditions change; confirm on the official site before opening an account.
