CMC Markets Review for UK Traders
Reviewed by Phillip Ashdown · Last updated · How we review
An in-depth review of CMC Markets, a leading FCA-regulated broker with no minimum deposit and 300+ 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 0.5 pips
- Account types
- CFD and spread betting
Our Verdict
CMC Markets is a well-established all-round forex and CFD broker for UK traders. Founded in 1989 and listed on the London Stock Exchange, it combines decades of institutional experience with a proprietary trading platform that CMC describes as award-winning.
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 suits traders who want a feature-rich platform backed by FCA 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.
For the criteria behind this assessment, see our guide to how to evaluate a forex broker.
Does CMC Markets offer spread betting?
Yes. CMC Markets offers spread betting accounts to UK clients alongside its CFD and FX Active accounts.
Spread betting runs on CMC's own web platform and mobile app. TradingView connects to CFD accounts only, and MT4 is offered as a separate CFD account, so you cannot spread bet through MetaTrader at CMC. Spread betting accounts carry no market data fees, can be held in GBP or EUR, and a free demo account is available.
For UK residents, spread betting profits are generally free of Capital Gains Tax and stamp duty, but tax treatment depends on individual circumstances and can change.
To see how CMC Markets compares with other providers, read our ranking of the best spread betting brokers in the UK. New to spread betting? Our guide explains what spread betting is and how it works, and our forex spread betting comparison sets out published spreads on the major currency pairs.
Pros & Cons
✓ Pros
- ✓ Strong proprietary platform (Next Generation)
- ✓ Competitive spreads from 0.5 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.
To see what a spread or a price move is worth in pounds on your trade size, use our pip value calculator. To size a trade to the amount you want to risk, use the position size calculator.
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 0.5 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 0.5 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 0.5 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 | None | 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.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Final Verdict
CMC Markets is a well-established forex and CFD broker for UK traders. The Next Generation platform is feature-rich, 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.