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CMC Markets

CMC Markets

1.4 from 61 reviews

Reviews

1.4

61 reviews
5
(3)
4
(2)
3
(3)
2
(1)
1
(52)
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    1.8 (33)
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This company is the worst

published

This company makes up the comodity prices
You are not trading actual commodity and Change it to suit them selves. Any profits made will paid in fees and margins ., I think they are a scam

DHM

DHMGreater Melbourne (Metropolitan), VIC

Do not go with Ebroking. 14 days no response.

published

I’ve been waiting for 14 days and they didn’t bother chasing my application that had an error. So they were basically waiting for me to enquire before they could fix it.
After I called they said we need some additional answers and 2 days later when I called today I’m told nothings been done. Yet.
Big mistake, should have gone with CommSec.

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I’d give zero stars if i could

published

Probably the worst platform i’ve ever used. I have accounts on stake and etoro both work so well. Can’t believe in today’s day and age their app feels like using Windows 95. So outadated. Tried to do a trade and just wouldnt work. Such pathetic service. Stay away from them if you can. You’ll only be frustrated. ZERO STARS

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SiN K.

SiN K.Australian Capital Territory

Not a fee competitive platform for trading in 2020

published

CMC CFD fees and commission structure is so high compared to whats out in the market now. They are no longer competitive and there services are minimal. I'll be moving to another platform.
$15 per transaction sell or buy anything vs 0 fee on etorro,stake,tastytrade
$6 to transfer money in and out
Daily commission of $20-40 and then weekend commission of upwards $40
Holding cost upwards of 15 dollars

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No explanation! been nearly a month and still don't have my account approved but they have my money

published
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ads1212

ads1212Sydney, NSW

  • 14 reviews
  • 3 likes

Antiquated and useless customer service

published

I find their website to be incredibly difficult to navigate, not up-to-date and wholly inadequate. The customer service is useless. My support ticket took three days to be answered. Don’t use them.

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Fees, fees, and more fees

published

100% you will spend more money on fees rather than actual profits. I had some stocks and fees were over $100 / day. WTH? And then there's an account fee of $400 / month.
Go eToro. The probability to make more money by answering to Nigerian prince's email is 140% higher.

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Rachelle

RachelleGreater Melbourne (Inner), VIC

Market Data Subscription is charged per calendar month

published

CMC charge per calendar month for their Live Market Data, which means if you subscribe on 29 July you are charged for the whole month of July and then charged again on the 1st August. Very deceptive & archaic and designed to rip off customers.

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positivespirit1

positivespirit1Greater Melbourne (Inner), VIC

  • 80 reviews
  • 52 likes

Worst trading platform

published

Like others who have reviewed CMC Markets, I also have lost a lot of money due to their website being down over a period of time. Also there is a 20 minute delay in current last price for stocks which is not disclosed when you commence trading with them. Poor website and time for a major overhaul

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Tarun G.

Tarun G.Greater Melbourne (Metropolitan), VIC

Worse people to deal with

published

Worse platform . Lost lot of money as their platform had issues 4 times in last week.

Raised a complaint that i lost money and was advised to sell my shares and would be compensated as their platform was down.

Then after 2 weeks received a response saying it would not have reached some number which was advised by the agent who asked me to sell and lodged complaint on my behalf.

Really crappy platform and the most dodgy people to deal with.

Be very careful dealing with them.

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James

JamesGreater Melbourne (Inner), VIC

  • 2 reviews
  • 2 likes

This is unacceptable.

published

As a professional trader who use the CMC market platform to trade for a living this is clearly pathetic and unacceptable. The slow snails platform keep crashing every few minutes to the point I had to keep cancelling my trading transaction. This costed us time and money..How to trade when this things keep happening..

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William S.

William S.Greater Melbourne (Metropolitan), VIC

Rapidly deteriorating quality of platform

published
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Tony

TonyGreater Melbourne (Metropolitan), VIC

  • 2 reviews
  • 2 likes

The trading system not reliable, too many technical issues

published

Very similar experience as other reviewers. I have been with them for many years, no many issues before. But in the recent 6-12 months, technical issues become more often. It takes a while to log into your trading account, after log in, you can't do anything as the platform keep refreshing/running. It's a frustrating experience when you would like to trade when the market is up or down but just can't do anything with their platform.

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Constant "Technical Difficulties"

published

Fact: You will want to log in... but you cannot due to "Technical Difficulties". This happens very frequently at random periods for random lengths of time. It is a real shame if you want to buy or sell shares at a certain period or price a happily find that the system is experiencing tech difficulties. I would objectively recommend weighing up your desire to protect your capital over saving a few dollars in fees. When you want to exit a position and cannot, whether it is at a gain or loss you will not be reimbursed by CMC due to their own system outages.

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Look elsewhere......seriously

published

Been with them for years, at first they were good, but then there was big down day and the platform fell apart. There is no way of seeing what is happening and you'll have to phone the desk. If a trade blows past your stops then you're in trouble. Even of normal days, the platform locks up. I'm amazed they're still in business.

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Bothsides

BothsidesNew South Wales

Crashing in busy periods

published

Standard platform worked well and truly good enough 99% of the time over the past two years, up until mid-covid that is.
Nowadays it crashes regularly at critical volatile times only, ie when you need it the most.
Maybe they signed up too many new accounts without considering their capacity, or, maybe the problem is not their's, maybe it's the ASX that aren't handling the extra capacity needed for the 9000 per day new accounts that were signed-up during the early virus lock-down period.

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AVOID! The Site Crashes At Key Trading Moments

published

Been using CMC for several months. At critical times their servers can't handle activity. Which means if you want to buy or sell you can't. This is the most fundamental part to running an exchange! And therefore it doesn't matter what positive features you might have, this flaw outweighs them all.

William

WilliamGreater Melbourne (Inner), VIC

  • 2 reviews

Poor onboarding, bad platform, don't bother

published

It is one of the worst platforms I've ever signed up for. Took 6 weeks to open an account. They had created it wrong so they said I had to reapply. A lot of snail mail and delays. Absolutely 0 care or attention put towards user experience or good platform design.

I'm sure at the bare bones of trading stocks they do it well but don't settle for a crap experience in 2020. There are better platforms out there.

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Winnie

WinnieSydney, NSW

  • 11 reviews
  • 15 likes

CMC REFUSE TO CLOSE MY ACCOUNT

published

I opened an account in May this year but decided to use another brokering service elsewhere. On the 3rd June 2020 I sent an email requesting my account to be closed. Multiple emails later and it's still not closed today being 15th July 2020. Everytime it's "please be patient, it has been escalated". It does not take a month and a half to close an account which has no shares, no nothing in it. Do not use this service. They will force you to keep your account open against your will.

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MDD

MDDSydney, NSW

This company is a fraud beware.

published
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Questions & Answers

vernon

vernonasked

what are the fees to hold a broking account?

2 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.

The fees are so hurtful you will be paying more in fees then any profits you'll make. $15 per transaction sell or buy anything vs 0 fee on etorro,stake,tastytrade
$6 to transfer money in and out
Daily commission of $20-40 and then weekend commission of upwards $40
Holding cost upwards of 15 dollars per day

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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