- يونيو 28, 2021
- Posted by: ForexTradeOn
- Category: CMC Markets review
|
Pros |
Cons |
|
|
Introduction
CMC Markets, is a UK forex and CFD broker that was founded in 1989 and has over 80,000 clients worldwide. CMC markets is also regulated by top-tier financial authorities like FCA, the Financial Conduct Authority in the UK. With over 11,000 trading instruments, CMC Markets beats a lot of other brokers in the number of products.
Account Currencies
The CMC Markets account has 10 account base currencies as the following: GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD
Notes:
- You will not be charged with conversion fees if your account has the same currency with your bank account or when you trade assets with the same currency of your account.
- If you want to avoid being charged with conversion fees, you can open a multi-currency bank account at a digital bank.
Deposit
CMC Markets does provide a variety of options for depositing money like:
- Visa/ Mastercard
- UOB Telegraphic Transfer
- Non-UOB Telegraphic Transfer
- DBS (Over the Counter Transfer)
- Non-DBS Telegraphic Transfer
- Cheque
CMC Markets Deposit Methods and Fees
|
Method |
Transfer Time |
Fees |
|
Credit Card via Mastercard/Visa |
Immediate (subject to normal system checks) |
2% Transaction Fee will be levied |
|
UOB Telegraphic Transfer |
In 1 working day |
Please refer to UOB retail banking for any applicable tariffs |
|
Non-UOB Telegraphic Transfer |
In 2–3 working days |
SGD$10.00 + your bank’s service fees (if applicable) |
|
DBS (Over the Counter Transfer) |
Within branch opening hours |
SGD$ 5.00 flat (within DBS only) |
|
Non-DBS Telegraphic Transfer |
In 2–3 working days |
SGD$10.00 + your bank’s service fees (if applicable) |
|
Cheque |
If cheque is deposited before 1pm on a weekday: After 2pm on the next working day Weekends and Public Holidays: After 2pm on the next working day. |
UOB: No charge DBS: No charge |
Please note that the previous table shows the fees and transfer time for deposit in an USD account.
How to deposit in your account?
You can deposit funds from your account online by clicking on the ‘Payments’ icon and then selecting the ‘Deposits’ tab. Alternatively, you can use chat (Live help) or call our Client Management team for assistance. Please be aware that for your protection, we may request additional information and/or proof of identity before processing the deposit.
Withdrawal
CMC Markets provides withdrawal using credit/ debit cards, electronic wallets, and bank transfers.
CMC Markets withdrawal methods and fees
|
CMC Markets |
|
|
Bank Transfers |
Yes |
|
Credit cards |
Yes |
|
Electronic wallet |
Yes |
|
Fee |
$0 |
Fees
Transferring funds to an account in Singapore typically incurs no charge, while overseas telegraphic transfers charges may be levied by the receiving bank.
Time
Transferring funds to an account in Singapore typically takes 1-2 working days, while overseas telegraphic transfers can take 3-4 working days.
How to withdraw your money from CMC Markets?
You can withdraw funds from your account online by clicking on the ‘Payments’ icon and then selecting the ‘Withdrawals’ tab. Alternatively, you can use chat (Live help) or call the Client Management team for assistance. Please be aware that for your protection, CMC Markets may request additional information and/or proof of identity before processing the withdrawal request. It does not transfer funds to a third-party account so please ensure that the bank account is in your name.
Note:
For security reasons, you may have to verify your identity with the payment department for the first time through the registered email or the phone number.
FAQs
- Does CMC Markets give a bonus?
- Yes. you can get a bonus of $250 when you refer a friend to CMC Markets and both you and your friend will earn a bonus when your friend trades on a newly opened CFD account.
- Where is my money held?
- They’re held in separate bank accounts.
- What happens to my funds if the bank which holds my funds goes insolvent?
- If this happens, please notify your bank as soon as possible. Once you’ve done so, please contact the Client Management team who will arrange to remove those cards from your account.
- Is my money products with CMC Markets?
- Under our FCA obligations we comply with Client Assets (CASS) rules to ensure all client funds are protected. As such, we distinguish your money from our own and hold it in separate bank accounts.
- When trading forex, will you lose more than your initial deposit?
- Both our MetaTrader 4 and CMC Markets platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
- Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balance amount in your account above your required margin.
- Does CMC Markets accept payments from third parties?
- No, as payments should be under your name.
- Does CMC Markets offer monthly cash rebates?
- For professional clients, CMC Markets offers competitive monthly cash rebates for eligible clients who trade in high volumes.