CMC Markets Review for UK Traders
Reviewed by Phillip Ashdown
Last updated:
An independent review of CMC Markets, a leading FCA-regulated broker with no minimum deposit and 330+ forex pairs.
4.5/5 overall rating
CMC Markets is a London-headquartered, LSE-listed forex and CFD broker founded in 1989, offering UK traders access to over 12,000 instruments through its award-winning Next Generation platform.
Key Facts
- FCA regulated
- Yes (FRN 173730)
- Minimum deposit
- £0
- Platforms
- Next Generation, MT4
- Spread (EUR/USD)
- From 0.7 pips
- Account types
- CFD and spread betting
Our Verdict
CMC Markets is one of the strongest all-round forex and CFD brokers available to UK traders. Founded in 1989 and listed on the London Stock Exchange, it combines decades of institutional experience with a proprietary trading platform that consistently ranks among the best in the industry.
For UK traders, CMC Markets offers a compelling combination of tight spreads, deep market access, and powerful charting tools. The Next Generation platform in particular sets it apart from most competitors, offering a level of customisation and analytical depth that suits both active traders and serious retail investors.
The main drawback is cost for infrequent users. The inactivity fee kicks in after just one year, which makes CMC Markets less suitable for casual or occasional traders. Pricing on some instruments is also not the tightest in the market when compared to raw-spread brokers like Pepperstone.
Overall, CMC Markets UK review verdicts consistently highlight it as a top-tier choice for traders who want a feature-rich platform backed by strong regulation and a long track record.
You can find full platform details on the official CMC Markets website.
For more options, see our full list of the best FCA-regulated forex brokers in the UK.
Pros & Cons
✓ Pros
- ✓ Strong proprietary platform (Next Generation)
- ✓ Competitive spreads from 0.7 pips
- ✓ FCA regulated with strong UK presence
- ✓ Good research and analysis tools
⚠ Cons
- ⚠ Platform can take time to learn
- ⚠ Not the cheapest for high-frequency traders
- ⚠ Limited platform variety compared to some competitors
Spreads and Fees
CMC Markets offers competitive spread-based pricing, making it a strong option for traders who want a balance between cost and platform quality.
CMC Markets uses a spread-based pricing model on its standard account, meaning trading costs are built into the bid-ask spread rather than charged as a separate commission. For most forex pairs, spreads are competitive and in line with the broader UK market.
The EUR/USD spread from 0.7 pips places CMC Markets in the mid-range for UK forex brokers — tighter than retail-focused platforms like eToro and Plus500, but not as competitive as raw-spread accounts at Pepperstone or Eightcap.
CMC Markets scores well on fees due to the absence of deposit and withdrawal charges. UK traders can fund and withdraw via bank transfer, debit card and PayPal without broker-side fees.
The inactivity fee is £10 per month after 12 months of inactivity, which is more aggressive than IG and less suitable for infrequent traders.
Overnight financing charges apply to positions held past rollover and are based on interbank rates plus a markup.
| Fee Type | Details |
|---|---|
| EUR/USD Spread | From 0.7 pips |
| GBP/USD Spread | From 0.9 pips |
| Commission | None (spread betting) |
| Overnight Financing | Based on interbank rate ± markup |
| Inactivity Fee | £10/month after 12 months |
| Withdrawal Fee | Free |
Fee Comparison
| Fee | CMC Markets | IG | Pepperstone |
|---|---|---|---|
| EUR/USD Spread | From 0.7 pips | From 0.6 pips | From 0.0 pips (raw) |
| Commission | None (standard) | None (standard) | £2.25/lot (Razor) |
| Inactivity Fee | £10/mo after 1 year | £12/mo after 2 years | None |
| Withdrawal Fee | Free | Free | Free |
Trading Platforms
CMC Markets offers its proprietary Next Generation platform alongside MetaTrader 4, giving traders a choice between advanced in-house tools and industry-standard software.
The CMC Markets Next Generation platform is the standout feature for UK traders. It is a proprietary browser-based platform built in-house, offering over 115 technical indicators, 12+ drawing tools, and fully customisable layouts.
Pattern recognition and client sentiment tools are built directly into the platform, providing advanced analytical capabilities without third-party plugins.
MetaTrader 4 (MT4) is also available for traders who prefer automated strategies or custom indicators.
The mobile app mirrors the desktop experience closely, with full charting and order functionality.
CMC Markets also supports spread betting accounts, allowing UK traders to access tax-efficient trading across forex, indices, shares and commodities.
- Next Generation: Best for traders who want advanced charting, pattern recognition, and client sentiment tools in a single platform.
- MetaTrader 4 (MT4): Best for traders who want Expert Advisors, custom indicators, and a familiar automated trading workflow.
- Mobile App: Best for traders who need full-featured trading on the go with price alerts and real-time streaming.
Regulation
CMC Markets is authorised and regulated by the Financial Conduct Authority under firm reference number 173730.
As a London Stock Exchange-listed company, CMC publishes audited financial statements and meets strict disclosure requirements.
UK retail clients benefit from FSCS protection up to £85,000. Client funds are held in segregated accounts with top-tier UK banks.
Negative balance protection applies to all UK retail accounts.
CMC Markets is authorised and regulated by the Financial Conduct Authority (firm reference number 173730), which you can verify on the FCA register.
Learn more about FCA regulation and how it protects UK traders.
Who Is This Broker For?
Best For
- Traders who want a powerful proprietary platform with deep charting and analytical tools
- Spread bettors who want broad market access and tax-efficient trading
- Intermediate to advanced traders who have outgrown simpler platforms
Good For
- MT4 users who also want a premium proprietary platform
- Traders who value pattern recognition and sentiment tools
- UK traders who want an LSE-listed regulated broker
Not For
- Infrequent traders likely to trigger the inactivity fee
- Cost-focused scalpers who need raw spreads from 0.0 pips
- Traders who rely on cTrader
Minimum Deposit
CMC Markets has no minimum deposit requirement, making it accessible to traders at all levels. You can fund your account via bank transfer, debit card, or electronic wallet.
Trade with CMC Markets
CMC Markets offers a strong balance of pricing, tools, and platform quality for UK traders.
Your capital is at risk.
Final Verdict
CMC Markets is one of the best forex and CFD brokers available to UK traders. The Next Generation platform is class-leading, regulation is strong, and market access is extensive. While the inactivity fee and mid-range spreads will not suit everyone, it remains a top choice for active and intermediate traders.