Is CMC Markets good for beginners?

CMC Markets is a CFD broker

Just a quick heads up: CMC Markets focuses mainly on CFDs. Usually we dont recommend CFD products for beginners. For beginners looking to trade mostly stocks, we recommend choosing a stockbroker where you can buy the actual shares of a company instead of a CFD contract for the stock.

Is CMC Markets good for beginners？

Let's take a look at its services one by one, following the criteria we set above, to get the whole picture.

• ???? When it comes to its web platform, CMC Markets might suit the needs of beginners: Two-step (safer) login. Good customizability (for charts, workspace). Modern design. Overall, this platform may be an optimal choice for beginners.

• ???? The mobile platform of CMC Markets is reasonably well-designed: User-friendly. Good search function. Good variety of order types. This may be helpful for the first steps in your trading journey.

• ???? Fees are one of the most important aspects when it comes to trading and CMC Markets does well in some areas: Low forex fees. No withdrawal fee. However, charges may be higher compared to some competitors. Areas of improvement: High stock CFD fees.

• ???? An account opening process is great when it is seamless from the get-go. CMC Markets does an excellent job in this area: Fully digital. No minimum deposit.

• ???? CMC Markets's education materials are a great place to start: Demo account. Trading platform tutorial. Educational videos. This makes CMC Markets's material worthy reading.

• ???? When you need help, one thing you should have immediate access to is customer service. CMC Markets's customer service generally scored well on these points: Phone support. Live chat. Fast response time.

• ???? Low minimum deposits and low-cost transactions are attractive for new traders. CMC Markets's deposit and withdrawal processes have some good things to offer: Credit/Debit card available. No deposit fee. Several account base currencies

Overview of CMC Markets's services

Lets take an overall look at how CMC Markets compares to its peers when it comes to platforms, fees, account opening and education tools. Our scores are on a scale of 1.0 to 5.0, from worst to best.

CMC Markets pros and cons

CMC Markets has low forex fees, and there is no charge for most deposit and withdrawals options. The web and mobile trading platforms are well-designed, highly customizable and rich with features such as an advanced order panel. Research and educational tools are also wide-ranging and sophisticated.

On the downside, stock CFD fees are high, and the product portfolio limited, covering only CFDs and forex products. Customer service, while helpful, is available only 24/5.