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CMC Markets

CMC Markets

1.3 from 134 reviews · View Statistics
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Reviews

  • Transparency
    1.6 (89)
  • Rates and Fees
    1.9 (24)
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Byron
ByronSydney, NSW

Amazingly Poor

published

It's been 7 weeks from initial application and I'm still unable to trade, even though CMC have my money! Their customer service continue to pass the buck and do nothing. For a business that works in the fast paced stock market, they are not only incredibly slow but incompetent with a careless attitude.

Incentivised Review No
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James G.
James G.Sydney, NSW

DO NOT USE CMC Markets. BEWARE: CMC Markets is also ANZ Share Trading and St George Share Trading.

published
Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!

Abysmal

published

This is a very poor online brokerage. Their UX is plain bad, They take ages to fill orders and then it gets purged from system because they can't fulfil the order ( yeah right I know this doesn't happen on other platforms) They have $1000 dollar limit on USA shares and Their customer service is uncooperative. Lastly, when you inevitably decide to use another they charge $100 per holding to transfer! AVOID AT ALL COSTS

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Fairlady
FairladySydney, NSW

Terrible platform - Avoid at all cost for newbies !!!

published

I will never use this platform again. Even when you unsubscribe from the pro platform, you will still be charge for so called "market data subscription". Their poor customer service does not help to resolve issues on time.
Don't waste your time on this platform , you will loose your money, because it is not designed to suite beginner traders.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Forex & Share Trading Platforms

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CMC MARKET BIG SCAM
CMC MARKET BIG SCAMNew South Wales

not a real trading platform, big scam, don't waste your money on this

published

Price does not reflect the real market, they could give you an excuse to adjust your position and you will lose all your money with no way to report them. No regulation control those type of market at all.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Country boy
Country boyLitchfield, NT
  • 16 reviews
  • 11 likes

Great broker

published

I have no idea how CMC managed to get such bad reviews. All I can possibly think of is the people reviewing are actually the opposition or trolls because I love the platform! Simple and easy. What's not to like? It does everything anyone could ever want. Seriously, about the only thing I feel could be improved upon is transferring funds to and from made faster (currently takes a day or so to transfer to a bank account) and add live after hours market price updates to the app but that's it.

Transparency
5/5
Rates and Fees
5/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Ross H
Ross HGordon 2906, ACT
  • 2 reviews

Incompetent - Zero Customer Service

published
Transparency
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!

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  • Verified

beware of the rate charged - always check

published

We bought FNCL ETF through CMC stock brokers on 1 Sep 2021 (US time) and we were charged a rate higher than the day's high. On 1 Sep 2021 the day's high was US$54.86 and we were charged US$55.00. I have been trying to resolve this for over 5 months now but there has been no proper response.

Unfortunately, I cannot comment on forex rates they charge as I do not have access to current exchange rates.

Zero transparency in their rates.

Transparency
1/5
Rates and Fees
3/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!

Scam SIte

published

I've had orders placed for over 48 hours and none have been processed The week before I placed orders and they took 3 hours to be proccessed by which time the prices had dropped. Very annoyed I put everthing I have in it because I thought how banks don't make much intrest on things and I've lost everything

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Forex & Share Trading Platforms

Find out how CMC Markets compares to other Forex & Share Trading Platforms

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AC P.
AC P.
  • 6 reviews
  • 8 likes

try not no use this platform, you lose money if you do

published

Yes the transaction fees are low, but you end up losing money because you are not able to place orders. And the phone service is slow as well. I've been on the phone for 15 minutes and no one answers the call.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Serenity32
Serenity32Tasmania
  • 15 reviews
  • 28 likes

Chronic Dysfunctional Options Platform. False Narrative for Customer Service.

published
Transparency
1/5
Rates and Fees
2/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!

Deceptive platform

published
Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Forex & Share Trading Platforms

Find out how CMC Markets compares to other Forex & Share Trading Platforms

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Compare all
EddieRobinson
EddieRobinsonGreater Melbourne (Outer), VIC
  • 10 reviews
  • 11 likes

Would like to try it if they ever process my application

published

Easy to use website to sign up but their forms and customer service is so poor that I have to remain on hold for >10 minutes and then find they have done nothing with my application for >15 days.
The best thing about this experience is that they will not get access to my shares and funds

Transparency
1/5
Rates and Fees
2/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!

Market Manipulation

published

These guys trade against you and will never let you profit from CFD products - I'm pretty sure they do market manipulation, as the info they have on the app differs from info from Yahoo Finance and they will close you out and liquidate you with a 20-second warning, not enough time for you to take action to top up your account, close some trades, action any manual stop-losses, or short against your current positions. Straight up thieves - leave this platform guys for real!

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Bart
Bart
  • 15 reviews
  • 10 likes

Way too slow

published

I have waited 10 minutes plus to place a simple trade . I was told that it was unusually busy. I was referred to an online broking service amongst other treats.
Give them a miss if they can’t provide a prompt service for share trading they should not be in the business

Rates and Fees
5/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!

Questions & Answers

Jojo
Jojoasked

I'm a newbie to shares market and has googled to find the share trading site that is suitable for me. Unbelievable to me that I chose CMC and registered 2 weeks ago. I've found this review, and seems CMC is a bad choice. As I'm not in the CFD, I could not say the same thing. I'm just buying shares for long term and bought a couple shares. I do find the 24hrs wait for transferring fund from CBA to ANZ is annoying. Bank is making money when holding up fund, even 24 hours is enough to give them profit. I doubt the issue is at CBA. Will ANZ dare to say their technology is better than CBA? I transferred fund from Westpac to CBA with no issue, instantly. OI might try to transfer some fund back to my CBA account to test how easy or not transferring fund back and forward. This ANZ account is automatically created for me when I registered at CMC website. Therefore, I have not proven that the account is behaving like normal bank account. Once I finish all my fund to buy shares, should I just get out from CMC and register to other trading site like Commsec when it is time to sell?

No answers
vernon
vernonasked

what are the fees to hold a broking account?

3 answers
Rob
Rob

I wouldn’t even set up an account with them. They make up there own prices when it suits them . They will force you to loose money . Customer service is disgusting to say the least . I wish I never heard of them .

SiN K.
SiN K.
Anthony M.
Anthony M.
Ernest W.
Ernest W.asked

Hi guys, just wonder if anyone could tell me that if we are trading against CMC markets, or trading against the real markets via CMC? thanks.

2 answers
happy valley
happy valley

Not sure what you mean. You are trading in the real stock exchange(s).

Darryl P.
Darryl P.

CfD's you are trading against CMC. Equities, you are holding the stock for real.

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