CMC Markets at first look seems like a reliable platform. However, clients complained multiple times of the broker being a scam after they lost funds and couldn’t withdraw them later. The broker offers you the option to open a demo account and to try the first-hand experience to the platform although the real one is not as nearly as the demo one.
It is important to notice that CMC Markets has been established since 1989 which actually make it one of the industry pioneers when it comes to forex trading. The long history of the company does not actually help it become one of the most popular ones when it comes to crypto brokers. The platform offers highly competitive pricing with spreads on the EUR/USD as low as 0.7 pips and typical spreads of 0.744 pips. The broker also offers liquidity rebates for the active traders only with rebate levels ranging from $5 to as much as $10 per million for those that trade high volumes.
CMC Markets offers a stop-loss order which is supposed to guarantee the stop-loss order rate clients choose when they setup risks thresholds on their positions. However, there is a premium for using the GSLO, for example, $8 per 100,000 units using the EUR/USD. The online trading platform is actually really slow so users find it very unreliable when It comes packed with multiple tools and features that are confusing for new traders.
The Next Generation platform is built using HTML5 which is supposed to make it fast, flexible and reliable for example the trade ticked design is simple but it can be expanded to add stops and limits as well as to look into the depth pricing. When it comes to charting, the experience is very confusing since there are plenty of tools and more than 80 technical indicators which can be added to each chart. Another feature that is standing out from the experience is the pattern-recognition tool which offers many options for trading which makes the experience even more difficult for novice traders.
The current version of the platform doesn’t feature the ability to run automated trading strategies despite the pattern recognition and social-trading tools available.