About CMC Group
In 1989, CMC Group was founded by Peter Cruddas in the UK as “Currency Management Corporation”—a Foreign Exchange market maker. In 1996, the company offered one of the earliest real-time forex trading platforms on the internet. CMC Group also began offering Contracts for Difference (CFDs) in 2000 and online spread betting in 2001. CMC largely defined how these products have been delivered to the retail market by offering them on the internet. CFDs and online spread betting are the core of CMC Group’s business today.
Plans for an IPO were scuttled in 2006 because of market conditions, but Goldman Sachs bought a 10% stake in the company in 2007. Profits declined in 2009 with the Global Financial Crisis, resulting in the closing of seven offices. CDC Group currently operates offices around the world, but not in the US due to regulations on CFDs and spread betting. They continue to be one of the largest global providers of these products with a little over 1,000 employees and annual revenue of £193 million. Though they are based in London, with the acquisition of the stock broker “Andrew West” in 2008, the company also conducts significant business in Australia. As members of that stock exchange (ASX), CMC allows Australians to purchase ASX-listed equities.
- CMC is registered with the Austral
- CMC is regulated by the Financial Services Authority in the UK (FSA).
Contact Information At A GlanceThe best way to find out more information or apply for an account is always through their web-site, because it is unusually helpful and clear.
- Phone: +44 (0)20 7170 8207
- Fax: +44 (0)20 7170 849
- E-mail: email@example.com.
- Web-site: http://www.cmcmarkets.co.uk
CMC uses a completely online interface in place of a trading desk. The company’s own platform, Marketmaker, is a completely online and real-time system that makes the Forex trading experience as efficient as possible. Marketmaker mobile is a more recent innovation which allows customers to manage accounts from their mobile devices. Because the entire process is electronic and automated, CMC Group is able to cut delays and decrease overhead.
They do not offer stop orders, limit orders, or trailing stops, but they do have a free demo account.
The minimum deposit is $2,000.
Account Management and Trading Spreads
CMC allows the customer to determine their own amount of leveraging, allowing as little as £1 per point on all of their financial instruments. CMC also charges no commission or account management fees on spread betting. The company prides themselves on having some of the tightest spreads in the market. Their spreads include a huge range of commodities and international markets. They also provide very competitive margin rates, ranging from 1% to 15%.
Who can use CMC?The company is regulated by the FSA and provides accounts to individuals or corporations. Spread betting accounts are available only to individuals in the UK and Ireland, while anyone can open a CFD account. With offices in more than a dozen countries throughout the world and translation into all of these languages, CMC provides access for many customers and also provides access to many international markets. In addition, retail partners can use CMC services as the core of their business through white-labeling. This has been a very successful part of CMC Group’s core business.
Advantages of Using CMC
Free Online Education
Another significant value is the free online education courses that CMC offers all of their customers. These range from advanced training schedules for experienced traders, to simple education for people that are new to spread betting. Anyone that registers for an account has access to this impressive library of information.