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CMC Markets review

CMC Markets is a forex and CFD broker that is regulated and listed on the London Stock Exchange. CMC Markets says its selection of over 300 currency pairs is larger than that of any other broker. You can trade on its own platform, MetaTrader 4 or TradingView. The broker is regulated in the UK, Germany and Australia, while its global company is regulated in Bermuda. Every one of its companies gives retail clients negative balance protection. CMC Markets doesn’t publish average spreads, and its global company publishes no minimum deposit or withdrawal times. That’s the trade-off. Choose your country below to see which CMC Markets company you’d trade with.

Written by 17 min readUpdated

CMC Markets at a glance

CMC Markets stands out for its forex range, the platforms it offers and the protection provided by every company, though there are things to weigh up.

  • More than 300 forex pairsCMC Markets says it has the widest range of currency pairs of any broker. Its offering also covers more than 15,000 shares, 5,000 ETFs and 100 commodities (UK forex page, UK shares page).
  • Its own platform plus MT4 and TradingViewThe CMC Markets platform, MetaTrader 4 and TradingView, where you can trade from the chart. Its Australian company adds MetaTrader 5 (trading platforms).
  • Protection at every companyCompanies authorised by the FCA, BaFin and ASIC, and negative balance protection for retail clients at all four, the global company included. That one is licensed in Bermuda.
  • What to weigh upCMC Markets does not publish an average spread, and two of its own pages show different overnight mark-ups (costs and fees).

Leverage at CMC Markets’ global company

Leverage at CMC Markets’ global company, CMC Markets Bermuda Ltd, runs well above the 30:1 that retail clients get from its UK, German and Australian companies (maximum leverage). The global company states its figures as margin. A 0.5% margin works out to 200:1 (EUR/USD), and the margin rises on bigger positions. With more leverage you take bigger positions, so you face bigger losses and bigger gains.

  • Up to 200:1 on goldGold needs 0.5% margin, or 200:1, and silver 1%, or 100:1 (gold, silver).
  • Up to 200:1 on major forex pairsEUR/USD, GBP/USD and USD/JPY need 0.5% margin, also 200:1 (EUR/USD, GBP/USD, USD/JPY).
  • Up to 20:1 on oilWTI and Brent crude need 5% margin, or 20:1 (WTI, Brent).
  • Up to 10:1 on cryptoBitcoin, Ether and the other major coins need 10% margin, or 10:1 (BTC/USD, ETH/USD).

Is CMC Markets regulated where you live?

CMC Markets is regulated in every country it serves here. The company that opens your account, and its regulator, decide your leverage and protections, and where you live usually determines which CMC Markets company takes you on. Someone in Spain usually gets CMC Markets Germany GmbH, regulated by BaFin. Someone in Thailand usually gets the global company, CMC Markets Bermuda Ltd, licensed by the Bermuda Monetary Authority. That company offers more leverage, up to 200:1 on most major forex pairs.

The group also holds licences from the FCA, BaFin and ASIC, even if the global company takes you on. Those regulators check who owns and runs the group. Those regulators hold the group’s companies in their countries to their rules on capital and client money. Those rules protect only those companies’ clients. CMC Markets is listed on the London Stock Exchange, so its audited accounts cover the whole group, the global company included. The last column gives what the global company’s own terms say about your country.

CountryCompany that serves youHighest retail leverageNegative balance protectionThe group’s global companyHighest retail leverageNegative balance protectionIts terms on your country
GermanyCMC Markets Germany GmbH (BaFin)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightIts terms don’t mention your country. That isn’t the same as accepting you.
SpainCMC Markets Germany GmbH (BaFin)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightIts terms don’t mention your country. That isn’t the same as accepting you.
FranceCMC Markets Germany GmbH (BaFin)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightIts terms don’t mention your country. That isn’t the same as accepting you.
ItalyCMC Markets Germany GmbH (BaFin)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightIts terms don’t mention your country. That isn’t the same as accepting you.
PolandCMC Markets Germany GmbH (BaFin)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightIts terms don’t mention your country. That isn’t the same as accepting you.
PortugalCMC Markets Germany GmbH (BaFin)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightIts terms don’t mention your country. That isn’t the same as accepting you.
United KingdomCMC Markets UK plc (FCA)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightIts terms don’t mention your country. That isn’t the same as accepting you.
AustraliaCMC Markets Asia Pacific Pty Ltd (ASIC)30:1A retail rightCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightWhether it takes residents of your country isn’t established.
ArgentinaCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
BrazilCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
ChileCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
ColombiaCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
MexicoCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
PeruCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
IndonesiaCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
MalaysiaCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
PhilippinesCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
ThailandCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a
VietnamCMC Markets Bermuda Ltd (Bermuda BMA)200:1A retail rightThe same companyn/an/an/a

These figures were checked between 4 October 2026 and 17 October 2026. Confirm them with the broker before you open an account.

The German company serves clients in France, Italy and Portugal directly, and its sites there name no local branch (French site, Italian site, sign-up). It also has a registered branch of its own in Spain, authorised by the CNMV under number 134 (Spanish site), and another in Poland. Only the United States and Belgium are named in the Bermuda company’s terms as excluded. Nowhere do those terms mention the 12 countries it serves here.

Forex basket at the global company

Forex pairs at the Bermuda company mostly receive its full advertised leverage. USD/CHF gets half of that full amount, and EUR/JPY lands somewhere between the two. Each limit comes from the first margin tier. The rate climbs across 3 or 4 tiers as a trade expands, so a big trade ends up with less leverage than shown. The company doesn’t publish any of the other columns, from spread and lot limits to overnight financing.

Key NP not published by the provider · † published, but hard for a person or a search engine to reach: only on a page a browser has to build, in a document, in an archived copy or at a web address with a campaign code added

Eight forex pairs at the global company, each cell as the company publishes it or shown as not published.
InstrumentLeverage ceilingSpreadCommissionContract sizeMinimum lotMaximum lotTrading hoursOvernight financing
EURUSD†0.5% marginNPNPNPNPNPNPNP
USDJPY†0.5% marginNPNPNPNPNPNPNP
GBPUSD†0.5% marginNPNPNPNPNPNPNP
AUDUSD†0.5% marginNPNPNPNPNPNPNP
USDCAD†0.5% marginNPNPNPNPNPNPNP
USDCHF†1% marginNPNPNPNPNPNPNP
EURGBP†0.5% marginNPNPNPNPNPNPNP
EURJPY†0.7% marginNPNPNPNPNPNPNP

These figures were checked on 27 September 2026. Confirm them with the broker before you open an account.

Crypto basket at the global company

Every crypto coin here carries the same leverage limit at the Bermuda company and is priced in US dollars. For some coins, the first tier ends at a very small trade size and the margin rate increases after that point.

Key NP not published by the provider · † published, but hard for a person or a search engine to reach: only on a page a browser has to build, in a document, in an archived copy or at a web address with a campaign code added

Eight cryptocurrencies at the global company, each cell as the company publishes it or shown as not published.
InstrumentLeverage ceilingSpreadCommissionContract sizeMinimum lotMaximum lotTrading hoursOvernight financing
BTCUSD†10% marginNPNPNPNPNPNPNP
ETHUSD†10% marginNPNPNPNPNPNPNP
XRPUSD†10% marginNPNPNPNPNPNPNP
SOLUSD†10% marginNPNPNPNPNPNPNP
BNBUSD†10% marginNPNPNPNPNPNPNP
DOGEUSD†10% marginNPNPNPNPNPNPNP
ADAUSD†10% marginNPNPNPNPNPNPNP
LTCUSD†10% marginNPNPNPNPNPNPNP

These figures were checked on 27 September 2026. Confirm them with the broker before you open an account.

Account maximum against instrument ceilings

The Bermuda company sets the same account maximum for every basket. No instrument ceilings are published to set against it here, so you can compare instruments with the forex and crypto tables above. Gold sits at the full maximum in the company’s margin data.

Key NP not published by the provider

The advertised account maximum against the highest and lowest ceilings published on the basket instruments.
BasketAccount maximumHighest instrument ceilingLowest instrument ceiling
Forex200:1NPNP
Crypto200:1NPNP
Commodities200:1NPNP
Shares200:1NPNP

These figures come straight from each broker’s published information, with no check date noted. Confirm them with the broker before you open an account.

The UK, Australian and Bermuda companies apply margin tiers to each position. The German company also uses tiers, though it doesn’t publish them. All four companies state they provide 3 business days’ notice of a margin increase where they can. The Bermuda company’s terms allow it to act with less notice, or even none, if there is a valid reason.

Costs it publishes

CMC Markets publishes its inactivity fee as a figure, ten pounds a month, charged after an account sits unused for a year. It also names the benchmark rate that its overnight charge is based on.

What the group publishes about its trading costs, field by field.
AttributeValue
Average spread publishedNo
Method and periodNo
Swap benchmarkYes
Swap mark-upTwo figures, contradictory
Inactivity fee statedYes

These figures come straight from each broker’s published information, with no check date noted. Confirm them with the broker before you open an account.

Funding

Funding at the Bermuda company works by card, bank transfer, Skrill, Neteller and crypto. Crypto deposits are USDT or USDC through Binance Pay. The company says it charges no fee to deposit or withdraw, though your card issuer or payment provider may charge a fee (client disclosures, TradingView page). The UK and Australian companies list their own methods, and you’ll find them alongside other brokers’ on the UK and Australian comparison pages. Because the broker can change these terms and those in the by-country table below at its own discretion, always double-check them on the broker’s own website before you deposit.

Key NP not published by the provider

How the group’s global company says an account can be funded.
AttributeValue
Card depositsYes
Bank transferYes
Crypto depositsUSDT, USDC
Base currenciesNP
Minimum depositNP
Deposit and withdrawal feesNo deposit or withdrawal fees from CMC Markets. Your card issuer or payment provider may charge a fee
Withdrawal timeNP

These figures were checked between 29 September 2026 and 11 October 2026. Confirm them with the broker before you open an account.

Funding, by country

Funding works differently for each company. Cards are accepted in every country here. Where the Bermuda company opens your account you can also pay by bank transfer, Skrill or Neteller, and only there are crypto deposits accepted. The UK company doesn’t take crypto, and the German and Australian companies don’t say whether they do. PromptPay and Thai online banking aren’t available to Thai clients. Local rails are the ones the payment rails page shows for each country.

Key NP not published by the provider

What a resident of each country can use to fund an account: cards, the payment rails local to the country that the group accepts, whether a crypto deposit is taken from there and the minimum deposit at the company that serves it.
CountryAvailableCard depositsLocal payment railsCrypto depositsMinimum deposit
GermanyYesYesOpen banking (PSD2 payment initiation), SEPA Instant Credit TransferNPNone
SpainYesYesNoneNPNone
FranceYesYesOpen banking (PSD2 payment initiation), SEPA Instant Credit TransferNPNone
ItalyYesYesNoneNPNone
PolandYesYesOpen banking (PSD2 payment initiation)NPNone
PortugalYesYesNoneNPNone
United KingdomYesYesOpen bankingNoNP
AustraliaYesYesPayIDNPNone
ArgentinaYesYesNoneYesNP
BrazilYesYesNoneYesNP
ChileYesYesNoneYesNP
ColombiaYesYesNoneYesNP
MexicoYesYesNoneYesNP
PeruYesYesNoneYesNP
IndonesiaYesYesNoneYesNP
MalaysiaYesYesNoneYesNP
PhilippinesYesYesNoneYesNP
ThailandYesYesNoneYesNP
VietnamYesYesNoneYesNP

These figures were checked between 27 September 2026 and 16 October 2026. Confirm them with the broker before you open an account.

Platforms and tools

Platforms differ between companies. The Australian site lists MetaTrader 4, MetaTrader 5 and TradingView, but the UK site only mentions MetaTrader 4 and TradingView, with no reference to MetaTrader 5. Hosted servers and Autochartist are Australian only.

Key NP not published by the provider

Platforms, tools and related fields, as the group states them.
AttributeValue
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNP
TradingViewYes, trading from its charts
Proprietary platformCMC Markets platform
API accessNP
Copy tradingNP
Hosted serversConditional, Australia
Analysis toolsAutochartist (Australia)
Minimum lotNP

These figures come straight from each broker’s published information, with no check date noted. Confirm them with the broker before you open an account.

What you can trade

CMC Markets’ UK pages list a total of 21,000 instruments, with more than 300 forex pairs among them (UK forex page). The global home page states more than 21,000 instruments in its text, but shows 12,000 in a figures strip (global home page). The UK forex page refers to 12,000 as the number of other instruments excluding forex pairs (UK forex page). The UK company doesn’t offer crypto, and no page read provides a crypto count.

Key NP not published by the provider

Instruments per asset class, the total, and the classes not offered.
AttributeValue
Currency pairs300+
Crypto CFDsNP
Share CFDs15,000+
ETF CFDs5,000+
Index CFDs70+
Commodity CFDs100+
All instruments21,000
Swap-free accountsNP
Not offered at allCrypto at its UK company

These figures come straight from each broker’s published information, with no check date noted. Confirm them with the broker before you open an account.

More markets don’t always mean a better broker for you. Leverage, overnight financing, execution and costs often affect a trade more (what matters besides the market count).

Every company in the group

The Bermuda company’s terms say client money is segregated from the firm’s own funds, but it may be held outside Bermuda and may be pooled with other clients’ money. Two UK companies serve as its paying agents: CMC Markets UK plc and CMC Markets Services Limited (global site). CMC does not name a regulator for CMC Markets Services Limited.

Key NP not published by the provider

Each regulated company in the group: regulator and licence, the source of the licence number, negative balance protection and the latest accounts filed.
CompanyRegulator and licenceCompany numberLicence sourceNegative balance protectionLatest filed accounts
CMC Markets Bermuda LtdBermuda BMA IBA standard licence, self-stated202302718The regulator’s registerA retail rightNP
CMC Markets UK plcFCA FRN 17373002448409The regulator’s registerA retail rightNP
CMC Markets Germany GmbHBaFin 154814NPThe regulator’s registerA retail rightNP
CMC Markets Asia Pacific Pty LtdASIC AFSL 238054ABN 11 100 058 213The regulator’s registerA retail rightNP

These figures were checked between 4 October 2026 and 17 October 2026. Confirm them with the broker before you open an account.

What the group does not publish

Per-instrument figures make up most of what the group leaves unpublished. The basket tables show only the margin rate.

  • API access
  • Copy trading
  • Swap-free accounts
  • Minimum deposit
  • Withdrawal time
  • Spread: not published for 29 of the basket instruments
  • Commission: not published for 29 of the basket instruments
  • Contract size: not published for 29 of the basket instruments
  • Minimum lot: not published for 29 of the basket instruments
  • Maximum lot: not published for 29 of the basket instruments
  • Trading hours: not published for 29 of the basket instruments
  • Overnight financing: not published for 29 of the basket instruments

Common questions about CMC Markets

The company you’d be with changes the answers about CMC Markets, so each answer names that company.

Is CMC Markets regulated?

CMC Markets is regulated through CMC Markets UK plc (FCA 173730), CMC Markets Germany GmbH (BaFin 154814) and CMC Markets Asia Pacific Pty Ltd (ASIC AFSL 238054). CMC Markets Bermuda Ltd holds a licence from the Bermuda Monetary Authority, which includes the business in its list of licensed investment businesses.

Which CMC Markets company would I be with?

The CMC Markets company you’d be with usually depends on where you live, and its regulator sets your leverage and protections. You usually deal with the UK company if you live in the UK, and the Australian one if you live in Australia. Germany, Spain, France, Italy, Poland and Portugal usually get the German company, while Latin America and South-east Asia usually get the Bermuda one.

What leverage does CMC Markets offer?

CMC Markets gives retail clients 30:1 at its UK, German and Australian companies. The Bermuda company offers up to 200:1 on forex, but less on crypto, shares and larger trades.

What is CMC Markets’ minimum deposit?

CMC Markets’ Australian and German companies ask for no minimum deposit (German funding FAQ). The UK and Bermuda companies don’t publish a minimum deposit.

Does CMC Markets offer MT4, MT5 or TradingView?

CMC Markets provides MT4, TradingView and its own platform. Its Australian company also makes MT5 available. There is no published information on whether cTrader or copy trading is offered.

Does CMC Markets have negative balance protection?

CMC Markets offers negative balance protection to retail clients at all four of its companies.

Opening a CMC Markets account

Risk warning

A well-regulated counterparty doesn’t make the product safe

A well-regulated counterparty protects you against one thing: the firm failing while it holds your money. That protection does nothing about a move in price against you, and that event is far more likely. Read the risk disclosure before opening any account.

Sources

The original documents this page cites, in the order they first appear.

  1. CMC Markets — Forex (UK site), CMC Markets UK plc, 2026-10-16
  2. CMC Markets — Shares trading (UK site), CMC Markets UK plc, 2026-10-16
  3. Financial Conduct Authority, FCA
  4. Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin
  5. Australian Securities and Investments Commission, ASIC
  6. CMC Markets (Bermuda) — EUR/USD instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  7. CMC Markets (Bermuda) — Gold - Cash instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  8. CMC Markets (Bermuda) — Silver - Cash instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  9. CMC Markets (Bermuda) — GBP/USD instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  10. CMC Markets (Bermuda) — USD/JPY instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  11. CMC Markets (Bermuda) — Crude Oil West Texas - Cash instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  12. CMC Markets (Bermuda) — Crude Oil Brent - Cash instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  13. CMC Markets (Bermuda) — Bitcoin (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  14. CMC Markets (Bermuda) — Ethereum (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  15. CMC Markets — Accueil (France), CMC Markets Germany GmbH, 2026-10-15
  16. CMC Markets — Home (Italy), CMC Markets Germany GmbH, 2026-10-15
  17. CMC Markets — Account sign-up, CMC Markets, 2026-10-15
  18. Comisión Nacional del Mercado de Valores, CNMV
  19. CMC Markets — Inicio (Spain), CMC Markets Germany GmbH, 2026-10-15
  20. CMC Markets (Bermuda) — AUD/USD instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  21. CMC Markets (Bermuda) — USD/CAD instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  22. CMC Markets (Bermuda) — USD/CHF instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  23. CMC Markets (Bermuda) — EUR/GBP instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  24. CMC Markets (Bermuda) — EUR/JPY instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  25. CMC Markets (Bermuda) — XRP (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  26. CMC Markets (Bermuda) — Solana (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  27. CMC Markets (Bermuda) — BNB (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  28. CMC Markets (Bermuda) — Dogecoin (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  29. CMC Markets (Bermuda) — Cardano (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  30. CMC Markets (Bermuda) — Litecoin (USD) instrument data, CMC Markets Bermuda Ltd, 2026-09-27
  31. CMC Markets — Client disclosures (global site), CMC Markets Bermuda Ltd, 2026-10-11
  32. CMC Markets — TradingView (global site), CMC Markets Bermuda Ltd, 2026-10-11
  33. CMC Markets — Home (global site), CMC Markets Bermuda Ltd, 2026-10-15
  34. Regulated entities, Bermuda Monetary Authority
  35. FCA Financial Services Register: CMC Markets UK plc, FRN 173730, Financial Conduct Authority
  36. BaFin company database: CMC Markets Germany GmbH, Bundesanstalt für Finanzdienstleistungsaufsicht
  37. ASIC Australian Financial Services licensee dataset, October 2026, Australian Securities and Investments Commission, 2026-10
  38. CMC Markets — Kontokapitalisierung FAQ (Germany), CMC Markets Germany GmbH, 2026-10-11