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CMC Markets

CMC Markets

1.6 from 26 reviews

See the Best Online Forex / Share Trading in 2019 as rated by Australians on ProductReview.com.au.

Reviews

Review distribution

5 star
3
4 star
1
3 star
0
2 star
0
1 star
22

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
  • 1 like

Waste of time and effort

published
Transparency
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
  • 16 likes
  • 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
  • 2 likes

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

published
Transparency

Grandpa.Ears

Grandpa.Ears

  • 6 reviews

They run what used to be ANZ e*Trade, but ...

published

… they run it waaaaay worse than ANZ e*Trade ever did. Three weeks now trying to change the mailing address they have for my SMSF on their system. Response is that 'the back office has been very busy'. I don't think they have a back office. The people I speak to on the phone are pleasant enough, just that nothing seems to happen. If you want to know what their customers really think of them, just look up 'ANZ share investing' on this very website (www.productreview.com.au). Nearly 350 reviews, of which about 95% give a one star rating.

its not ideal

published

The blazer is useless and I don't see any point in having to wear it. people say they have to wear it to school but they have the option to take it off, no one wears it, everyone wears the water proof jackets.

Transparency

The reviewer stated that an incentive was offered for this review

Michelle

MichelleSouth East Queensland, QLD

  • 13 reviews
  • 20 likes
  • Verified customer

Scammers

published

Beware of their hidden fees when making a deposit. Also, you cannot withdraw any winnings out, not even after I have provided them my card and bank statement, both have my name on it. Had enough of these scammers I have decided to close my accounts. Can't believe they came back asking for details of my saving account, trying to scam more money from me. Sick business.

Transparency

can trade with them any more

published

Lemme

LemmeWimmera, VIC

Dog crap thieves

published

CFD platform is slow and doesn't match real time conditions.

"Support" staff are rude and arrogant

Made making withdrawals slow, and refused to give me my money unless I justified why I wanted it.
Upon requesting to close my account and get my money back, made that as painful as possible.

Beware, this bucket shop is here only to take your money.


Vish

VishMelbourne

  • 4 reviews
  • 6 likes

Beware of their misleading practice

published

Anyone using CMC, note that they charge on interest earned when your money sitting in their cash account waiting for an opportunity. Their platform does integrate well with Chess registries and they don’t automatically update your TFN. Zero customer service. I probably lost thousands in interest, tax withholdings, loss of dividends and had to follow individually with Chess registries.


Peter King

Peter KingAdelaide

'Pro' Platform is NOT dynamic - total disgrace.

published
TeeJay

TeeJay

  • 2 reviews
  • 1 like

Customer service department couldn't care less

published

Received an email requesting clarification on my trade. Heard nothing a week and a half later so followed it up. Still heard nothing so called them 5 days later and they had been sitting on it and had done nothing. It shouldn't be a month long process to sell your shares. Don't use these guys if you're looking for a quick turnaround.

Robyn

Robyn

  • 3 reviews
  • 4 likes

Be careful.

published

Rude and arrogant customer service.

published

Similar experience to others here. Call up for assistance and only get very unfriendly, somewhat arrogant customer service using catch phrases like "anything else I can help with?" when they havent finished sorting out my problem. This is giving me the impression they just want to hang up asap. I'm still trying to get my account going after a full week. I think Monday I'll just shut it down and move on. The kids they get to man the phones are just rude and unhelpful.


Prepare to wait agonising minutes for orders to execute

published

Several times I have placed an order and nothing has happened for a good 5-10 minutes. Ridiculous. Customer service response was something like 'we can't see any problem at our end, did you try f5 (refresh)'. In fact I was watching through another platform as well as CMC - so, no, I'm not a complete idiot, thanks, CMC.

Also, if one of the shares in your portfolio hasn't traded THAT DAY, then the value is, apparently, $0. Software gore.

Interface is usable but very budget/no frills. Depth is only available next to the order ticket. Use this provider if you want to save a few dollars per trade, but lose thousands as your order executes a good many heartbeats after you actually click the button.


KitschWitch

KitschWitchSouth-Eastern Region, NSW

  • 6 reviews
  • 1 like
  • Verified customer

Great platform for trading shares

published

I haven't used CMC's CFD platform (which is separate). I've used the share-trading platform for about 2 years, and made ~100 trades. I've also used CommSec, OptionsExpress (now Charles Schwab) and BoomEx (overseas platform). I much prefer CMC to any of these. The layout is clear, charting facility is good and the fees are reasonable ($11 per trade, or $9.90 if you trade more than 5(?) times/month (and lower for more frequent traders).

I don't pay the extra for live data, and can therefore only see the first 5 bids and asks in the OB.

I've only needed help from Support twice, and each time was quick and easy.

And I don't use the platform for crypto trading--a dedicated crypto platform is better for most people.


Bronwyn

BronwynGold Coast

  • Verified customer

Gave up after 3 weeks of trying to open an account

published

I opened an account online, 3 weeks ago, however submitted all the required documentation, however after 3 weeks of email follow ups asking on progress updates I have given up and emailed today to withdraw my application. They did reply advising that their back office was very busy, however I find this unacceptable. I have chosen to use Bell and my account is up and running already.


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