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CMC Markets

CMC Markets

1.7 from 39 reviews

Reviews

1.7

39 reviews
5
(4)
4
(2)
3
(2)
2
(1)
1
(30)
  • Transparency
    1.6 (14)
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RKR

RKRSydney, NSW

  • 10 reviews

Customer service is really poor

published
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john

johnHobart, TAS

  • 5 reviews

little interest in customer service

published

I was a customer of this firm. Recently I was interested in buying shares. I messaged CMC to ask about procedures for buying shares. For some reason (after 2 requests) it could not do this and instead emailed me to say that I would need to phone to speak to someone at CMC to get the help I needed. I made at least five attempts to call but could never get through. Then I emailed CMC again to complain about this. It then had a staff member phone me but I explained to the guy that I could not speak at that time. He said he would call me back later that day.
I was never called back. Poor customer focus!!

  • Verified customer

unethical

published
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CMC MRKET AUSTRALIA scammer I lost $9300 WTO Crude Oil Cash on 20 TH April 2020 ,

published

CMC AUSTRALIA scammers, I lost $9300 WTO CRUDE OIL Cash on 20 TH APRIL 2020 ,
CMC WTO CRUDE OIL Cash is a scam,
Stop your scamming at least in Corona season

The reviewer stated that an incentive was offered for this review

Wei You

Wei You

  • 5 reviews

Great Analysis and Research for a Stock Broker Platform

published

I've traded with CMC for over 3 years and the amount of information provided live during trading hours has been vital in helping me make a decision on whether to buy or sell shares.

They have great customer service and have been prompt and professional in any enquiry or issue i faced whilst trading on their platform.

I use 4 other platforms and CMC is by far the best for me in terms its research and analysis.

Transparency
Jenna

Jenna

  • 6 reviews
  • Verified customer

Not LGBTI friendly at all

published

I'm transgender and these guys are not trained. Anytime you have to deal with them on the phone expect to be accused of identity theft and fraud and called a liar just because of the sound of a voice. Even when I told them I'm trans on the phone and apologised for the confusion they remained rude to me. Take it from me if you identify LGBTI, not worth the headache, move on to someone else.

Transparency

Cmc markets beware

published

Cmc markets make up there own prices in commodities that don’t reflect the market. Customer service is the worst. When asked how they calculate you get a different answer every time. All there favour

Unhappy Acct Applicant

Unhappy Acct ApplicantHunter Region, NSW

Hopeless - Endless Delays to Create an Account

published

I applied for a stockbroking account on 24 March 2020. It is 20 April 2020 and my account is still not established.
Initially CMC advised that their account creation process usually takes about one week, which is one reason why I decided to establish an account with them. Positive reviews were another reason.
I followed up with CMC ten days after I applied. They explained that due to coronavirus creating high volumes, account creation was taking them two weeks. Fair enough, I thought. Today I followed up for the second time as it is almost one month since I applied and still no account. I wish I had established an account elsewhere.

Transparency
happy valley

happy valleyGreater Melbourne (Metropolitan), VIC

  • 7 reviews

Beware Hidden Charges

published

Be warned - they charge 1% of the funds you have in your trading account as an "Adviser/Broker Service Fee - CMC Markets". Just noticed this on my bank statement and rang CMC who told me the fee is part of their service. What other broker charges you a service fee on your account. Last month I earned $620 interest and CMC charged $501 as an Adviser/Broker Fee. Give them a miss.

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garbow

garbowSouth East Queensland, QLD

CMC markets - poor service

published

Have been using CMC since St George bank transferred to their platform.

Just recently they have stopped settling my sell and buy trades. Told me problem was bank rejected transfers. A lot of crap.
I transferred into my trading account ... no problem. Had a dividend payment come in ....no problem. Bank says everything with account is ok. Speak to people at CMC. No body seems to know anything ...quite hopeless.
They owe me net around 60k overdue going back to a week.
Now I find they have a holding pledge of 6k on the account and yet they owe me 60k..
I have lots of trades between 20k and 100k.
Hope there is no scam here.

genXreviewer

genXreviewerSydney, NSW

  • 23 reviews

pretty simple to use

published

does everthing I need for the last 5 or so years (share trading).
I like that its the cheapest per trade & the price is discounted further when I trade more often.
It only lost a star because it doesnt have an option to pull up capital gains loss/tax at the end of FY, and most other tax information (like total fees for trading) is difficult to manually calculate off their tax tables. This information is so easy to provide! Its crazy.
To get this information from Sharesight (linked to CMC) for any decent sized portfolio costs $250 (per annum) & with Sharesight I have also needed to manually correct the cost of the price per trade, as it was incorrect (+doesnt add in the GST component)

Transparency
Bart

Bart

  • 10 reviews

Slow to place order

published
Daniel

DanielCairns

  • 3 reviews
  • 1 like

Terrible customer service

published
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Michael

MichaelGreater Melbourne (Inner), VIC

Don't respond, over 2 weeks and still no access

published

Set up a joint account online, then waited and waited for the account to open, had to contact them. Finally got an email they needed clarification of job title, both myself and my partner responded, waited again for a few days no response. Called them to be advised they needed the same information we had already provided. No idea what happened to the emails. So far I'm not impressed. Don't have a lot of confidence we should even let them near our shares.

Way6000

Way6000Perth, WA

  • 7 reviews

Waste of time and effort

published
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NevT

NevTNew South Wales

Top Share Trading

published

Easy and fast account setup.
Very low fees compared to other companies.
Great support. (remember to do it in trading hours!)
Easy setup for withdrawing funds to your bank account.
Adding funds to trade with is also easy.
I have been with CMC for many years after changing from Commsec.

rygar22

rygar22Sydney Surrounds, NSW

  • 18 reviews
  • Verified customer

trying now for a month to get an account

published

beside two separate applications (the first one had a spelling error in my name, and I snail mailed all requested additional information) The second application was then put in as telephone support suggested it may be quicker to do it again with the online verification. 6 weeks later and despite several phone call still not a step further. Pathetic company stay away

Transparency
doh

dohSydney, NSW

They simply do not respond....at all

published

Applied for an account for a trust so had to submit paperwork. Paperwork submitted. Followed up again to see why the non-response. Guess what? No response. Why do you bother advertising for new customers when those that come directly to you, you ignore?

Transparency
Andrew margan

Andrew marganHunter Region, NSW

Hard to believe they exist

published

They advised me to change the shares of my mothers estate to my fathers name but failed to tell me that they all needed to be transferred within 5 days of them informing the ASX. They didn’t tell me they informed the ASX. All the shares are locked up now and I miss the FY CGT advantages from selling the shares. And they refuse to help still or ring me

Transparency
MM V

MM VGreater Melbourne (Outer), VIC

  • 3 reviews

No way to withdraw anything, stay away from these guys.

published
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Questions & Answers

vernon

vernonasked

what are the fees to hold a broking account?

1 answer
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 .

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.

1 answer
happy valley
happy valley

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

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