CMC Binary Review
CMC Markets was launched in 1989 in the United Kingdom and has become a leading CFD and spread betting provider. The broker now offers a full range of binary options while continuing to be regulated by the FCA in the UK. CMC markets boasts clients from more than 75 countries and over 10,000 products.
There are standard and advanced accounts at CMC Markets but very little information was provided for either of them. Spreads differ depending on the asset chosen and there is no minimum deposit required to open an account. There is also a demo account with virtual funds but prices for share CFDs are not displayed in this account.
Binary options at CMC Markets can be traded in the most popular indices, including the UK 100, US 30 and Germany 30, key commodities such as Crude Oil West Texas Gold and Silver and on major FX pairs, including EUR/USD, GBP/USD and USD/JPY, with timeframes starting from just five minutes.
CMC Binary Available Markets
Forex pairs can be traded as Ladders, One Touch, Up/Down and Range with expiries as short as 5 minutes. Indices follow the same trade types and have the same short 5-minute expiration option. Commodities expiry daily and are offered as Ladders, Up/Down and Range.
Assets and Trade Types
When choosing the Ladder type of binary, the trader decides whether the settlement price will be at or above the specified strike price at the end of the binary expiry. One Touch binaries require the settlement price to reach a specified strike price before or at the end of the binary expiry. With Up/Down, the trader must choose whether or not the settlement price will be at or above the previous period’s close at the end of the binary expiry. And Range binaries require the settlement price to be within a specified range at the end of the binary expiry.
Range Trade Type Example
Traders at CMC Market benefit from professional charting, powerful tools and innovative platform navigation. Trades are 100% automatically executed without dealer intervention and vigorous risk management functions including guaranteed stop-loss orders are provided. There are also cash rebates for high-volume traders but no other information about these rebates was supplied.
Binary options at CMC Markets can be traded through three different platforms: CFDs, Spreadbetting and Countdowns.
Countdowns are fixed-odds trades based on whether the mid-price of a product will be above or below the current Countdown price at the end of a range of short-term time frames. They offer short-duration trades (timeframes from just 30 seconds), competitive payouts of up to 90% and an intuitive platform experience. Countdowns are offered on 27 popular indices, FX and commodities products. The minimum amount trade on Countdowns is $20.
Spreadbetting and CFDs can be traded by taking a position on more than 9000 global shares, including 1000 ETFs and government debt obligations such as gilts, bunds, bonds and treasury notes are also available with prices on over 40 spread betting and CFD trading cash and forward products.
CFD traders can take advantage of easy to ready charts that list margins, spreads, commissions and trading hours by country for all shares and treasuries.
CMC Markets offers a range of educational features that are geared towards both new and experienced traders. The tutorial selection is vast and the platform guidelines, all in video form, offer excellent explanations of a host of different topics.
There is a series of trading guides which offer both beginner and advanced information on topics such as Trading Pattern Recognition, Trend Recognition, Primary Indicators, Money and Risk Management, 1-Click trading, 8 Essential Forex Candlesticks and more.
They also provide a suite of in-house and Trade With Precision online webinars and regional seminars that are designed to suit a range of individual trading needs. Topics include weekly charting webinars, analysis of the key US non-farm payrolls announcement, trading platform workshops and much more.
CMC Markets post breaking economic news events and all that is moving the financial markets with commentary, video and webinars from their global market analysts.
Bonuses and Promotions
There are no bonuses or promotions at CMC Markets but the broker is a partner with Land Rover BAR, the team led by four-time Olympic champion Sir Ben Ainslie, the successful Olympic sailor that helped Team Oracle USA defend the 34th America's Cup in 2013. They also support Super XV Rugby giants, the NSW Waratahs, one of Australia’s most iconic teams.
Deposits can be made by using a credit or debit card or by transferring funds from a bank account. There is a 1.8% charge for credit card payments. Checks or cash deposits are not accepted.
Traders can contact the CMC Markets’ main office in London via telephone. Surprisingly, there is no Chat available on the website.
Binary option trading at CMC Markets is a new dimension in trading and this broker seems to cover the product flawlessly from every angle. The website is easy to navigate and the educational tools are abundant. Some good bonuses could have enhanced their offerings.
- Award Winning Platform
- Demo Account Available
- No Bonuses
- No Chat
Review info: CMC Binary
Review Date: 2016-06-29
Rating : 2
Reviewed By : Sara Patterson