CMC Markets

Worst customer service I have ever come across. I have been trying to access my accounts for over a month and still haven’t been able to access even after multiple calls as they don’t reply to emails

Very poor platform. They will do anything and everything to delay withdrawals of large cash amounts. So far: 1. Refused to register an external account because it was a joint account of which the trading account was one name. Note the other party… Read more

to the joint account already had this same account linked to his account, and this was ultimately the account that CMC Markets accepted as appropriate for linking. 2. Required copies of bank statements and photos holding passports (which they already had from opening accounts), but then did absolutely nothing with these documents. 3. Froze account for unauthorised call in relation to a CMC account from the party that had been authorised to act on the account 6 months earlier - all documentation required for authorisation had been confirmed as received 6 months earlier. 4. After providing further new authorisations (that should have been completely unnecessary) last week that were acknowledged so that the converstaion last week could now take place, the person on the phone when directed to the original email which provided the original authorisation (6 months ago), refused to confirm who was authorised in the original authorisation (yes that was me) because my access to the account had been frozen days before this call - note I was authorised on this account for 6 months before the wrong freezing of our account. After having to acknowledge that I had been authorised and that the account should never have been frozen, this person agreed to elevate the transfer request last Thursday to a senior manager. 5. We then received confirmation on Friday that our transfer request would be processed. 6. Then on Monday, we received a call requiring verbal confirmation for the transfer. 7. Next on Monday CMC Markets refused to take the verbal instruction from me as the authorised person, causing further delay. 8. Now it's Tuesday and still no funds. Why has it taken CMC Markets nearly 2 weeks to process a withdrawal of funds. This is a very substantial amount of funds required to be used for another purpose.

Surely other trading platforms can do far better than this.

NO NO NO if I could do a 0 star I would. Absolute crooks who just got done for many millions in court. Refuse to release any of those fines back into client bank accounts. Do not ever use these fools.

There is a lot to love about CMC, it has a great range of instruments and spreads are pretty good. They are lacking with their available platforms to trade on though. The Cmc platform is okay although I find it a bit clunky. Bringing on another platform Option (such as CTrader) would make it a 5 star for me.

I love the platform. I’ve used CMC invest for a number of years and have only recently started trading CFD’s. It’s easy to use, fund and manage. The only issue I have is on the mobile app not being able to easily move the Stop Loss and Take Profit on the charts Show reply

Very easy to find and trade shares etc. The online assistants are very helpful if you need them. Having all my stocks etc listed in one place, constantly updated, is a great feature. As a newcomer, I am very satisfied with the service. Show reply

RUN. CMC are just awful to deal with, have wasted many hours trying to access my account. So bad I thought I was dealing with a scam substitute company. Could spend another hour detailing and telling you how impossible they are to deal with. Used to be good, expect they have had a change of management. Still have NO access to my account for over a… Read more

week and they do not give a d#mn. On their chat box was 227 on their list, phone waited an hour then hung up. Even used their overseas call number try to contact them. They use team because you can not pin anyone down or pass on a complaint at its source. Now trying to transfer account to a reliable broker whom I have dealt with over 20years. So bad that I have reported them to the regulator. Transfer your account, best of luck I think they have stolen my account or waiting for me to give up. At 90 years of age I end up with heart palpitations just thinking of CMC. The A.C.C.C. should close them down. Trying to work out another avenue to retrieve my funds, I desperately need the money.

Took my money and promptly locked me out of my account. CMC forced Multi Factor authentication on all their customer accounts without any notification or permission. I am locked out of my account until they "find a resolution" Use CMC if you want someone to take your money and deny you access to it without your permission. Offers of "resolution"… Read more

are total nonsense. I have been waiting 5 days for a "Supervisor" to call me back. Their one and only "Customer Service" phone number has a wait time of two and a half hours.

I have withdrawn money nearly 2 weeks ago that has not arrived in my bank account. that they claim has been sent. I am now having to get the financial Ombudsman involved and/or take legal action to recover my money.

International holdings not showing - repeat issue, no support This is the second time my German‑exchange shares have disappeared from both the CMC app and website. The first time took almost a year to fix; this time it has already been several months with no resolution. Even worse, phone support cannot tell me the value of my own holdings. One… Read more

call was disconnected, and another had me on hold for over 60 minutes with no answer. Not being able to see or value your international assets is a fundamental failure for a broker. I’m posting publicly because this was the only thing that worked last time. Until this is resolved, I cannot recommend CMC for international share trading.

supposed to be linked to trading view - the charts are showing wild inaccuracies in real time. When you talk to the tech guys they just say you are the ONLY person having this problem! What a nightmare

When I sell shares I want my money on settlement day. Over 24 hours and still not tranferred into my ANZ account. Now changing to Comm Sec where I can access funds immediately.

poor service & platform inefficiencies. been with them for many years. they took ages to place my trade meaning i missed the opening of the markets and missed the profit opportunity. I sent various screenshots to them to back this up. they will not take any culpability for their mess up. i have received no compensation so far. nothing. their fx… Read more

rates do not update/calibrate to current fx rates-there is a noticeable delay. so complained yet to no avail. all they do is talk about resolving the issues . but its all just hot air. very disappointed by their posture.

I disagree with others that if there was a zero rating CMC would receive it. I would say CMC would be a negative. They promote themselves as a great product, maybe they are if you ever get to use it. It is now Feb 19 and I started the process on Jan 29 and I am still waiting for setup to be complete which is 99% done. Everything went smoothly the… Read more

first week but two weeks or more on I am still waiting for a broker to broker transfer of stock to be initiated otherwise I cannot trade without security in place. My experience in the industry is this takes 2 to 3 days. I admit, initially I put the wrong account number in the form, an account number they have because it is their account number but it took them 9 days to tell me to resubmit the form that took me a minute to repair and another week has gone by and nothings happened. CMC have no customer service standards which is supported by looking at the ratings here and there appears to be no independent complaint process which suggests no accountability and again I have not heard back from them either, what a surprise!!!! I follow the correct phone prompts over and over and the phone goes dead. No dial tone, no message, no ringing. I alert them to this multiple times and nothing chnages. They cannot use the "we are experiencing unprecedented volumes" excuse because that has become a disingenous standard message across every financial instution I deal with for the past decade. Why ANZ chose to sell this segment of their business to CMC for their customers to be treated the way they are is a poor look on them as well.

If zero stars was an option- they would get it. Completely incompetent team that man the phones. You will speak to a different person every time, and never achieve a result or resolution. Was told a supervisor would call back.. never did. When asked how long a supervisor call back takes, told it could be weeks... Very happy to take your money, but when it comes to withdrawing to a nominated account- Good luck!

I have has a very bad experience with CMC. I have been trading CFD's and every time i execute a trade it went against me. I definitely think that they manipulate the price to profit themselves. I am currently loosing $22k trading AUD/USD. There platform does not update all the time and trade is always against me. I feel scammed

Good platform, especially for beginners (me 4 months ago). I'll try to provide some constructive feedback: - spreads are a bit rough compared to other brokers but thats fair considering the small position size options. - dislike how you can't view the same cfd in different time charts. for example if i have gold open in the 4 hour on the left,… Read more

then try to open gold in the 5 minute on the right, it wont work, it changes both. - dislike how there is no integration with volume. no orderflow capability, there arnt even any indicators like VWAP. - when you try to view a cmc feed on trading view, you can't even infer volume from price tick data, which is poor. CMC will need to integrate with trading view and focus on opening up its volume metrics if it wants to stay relevant as the trading community evolves. Ultimately, some kind of DOM/orderflow accessibility would be ideal.

In summary, CMC has been good for me, but as I get better at trading and develop my strategy, I will be forced to switch to alternate brokers because of the limitations of the platform. I will be making this change very soon.

Thanks for your time.

The user interface is great. My largest issue is the lack of stocks. I was sent buy alerts for UNG, ZSL, MUD, USO, but they don't offer these assets. I don't understand how an online stockbroker cannot place a trade for publicly listed international stock. Don't waste your time if you plan on trading in international ETFs.

The company is dodgy and shouldn't be trusted. They have no respect for people and treat them like another number. They like to cause problems and are unwilling to make any corrective actions on their own.

The new platform is totally useless and confusing, very difficult to navigate and access certain information. And it's almost impossible to compare between shares to make trades, I have been a long time customer but now considering to switch to another broker.

After taking over from ANZ E*Trade which was a well performing secure trading platform, these guys are disastrous. After claiming my account with ANZ was not correctly set up by ANZ originally some 20 years ago they chose to freeze the account and cash funds, two and a half months ago. This only occurred when I tried to make a withdrawal. Almost… Read more

100 emails back and forth later, constant demands for additional documents(many of which seem irrelevant), I am still no closer to a resolution. They are always sincerely apologetic and understanding of my frustrations but unable to answer any questions as to why the account cannot be reactivated. Always needing to refer the questions to their "internal team" who obviously are above talking directly to average people like myself and only able to demand more irrelevant documents. Often their reply emails are unrelated to the issue we are trying to resolve. I was enjoying the website while I was depositing monies and buying shares it has only been since I tried to make a withdrawal that issues arose. Sadly issues it appears, they, with my money are unable to resolve. If you value your money as most of us do, be very wary of giving any level of control over it to CMC!

I like the web site and the information provided. Unfortunately, at the beginning of the year I was asked to open a new account because of a spurious transaction in the old one. The account was set up ok, but it took 6 months to transfer my previous stocks and funds. I was not impressed!

My Mum has some shares with CMC that we are trying to access on her behalf to pay for her advanced care costs at the nursing home she has recently entered into as a resident. Since first approaching CMC in February for their requirements to make this happen under an EPOA, we have dealt with no less than 18 separate individuals on their "Team"… Read more

(they certainly don't seem to operate as one), and been given almost as many variants on their requirements as this, which we keep trying to achieve. The result is that six months down the track Mum still does not have access to her shares, is incurring additional living costs as a result, and we have no faith that the end is anywhere in sight. Surely, given that I imagine the majority of individuals with a share portfolio are at the "mature" end of their lives, we are not the first people who have had to access shares under Power of Attorney to help a loved one. The fact that this company seems to have no policy or process for handling this is, frankly, appalling, and calls into question everything they do.

I am writing this review not out of spite for our terrible journey with CMC, but as a warning to investors considering using CMC that this should be one of the key issues they consider when choosing a broking house. I will comment that CMC's trading platform looks great, but the day we get to actually use it looks to be a long way away. In my opinion there are far better choices you can make than CMC.

Very satisfied with the company and its app. Would be better if app showed list of dividends received. I would also be happier if manual editing of average share price purchases could be returned to auto after trying manual. Show 3 replies