Reviewer Photos & Videos
Trying to move US shares from old ANZ Global Shares to a US based Australian stock broker. ANZ Share Investing does not recognise the WBEN-8 form, costing me a fortune.
Three months now. CMC can't do it. Now the shares have vanished from my CMC account. Still waiting to hear where CMC might have put them.
Heard back from the new broker. Apparently the old ANZ Share Trading customers have swamped the CMC service seeking better service elsewhere, and are moving to other brokers in such numbers CMC cannot cope. I have this in writing.
Upda...te 18/01/2019. Finally after 4 months they made the effort to transfer my holdings. The person did not know how to do it, and had to be hand held through the process. Note, I still go looking for basic features present on Etrade but missing on CMC, like basic portfolio and comprehensive research. I am considering closing the account, after 14 years.
Rude and arrogant customer service.
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
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.
- Verified customer
Great platform for trading shares
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.
- Verified customer
Gave up after 3 weeks of trying to open an account
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.
Be very careful if you value privacy
I had a similar experience to Phil's, and wasted no time in transferring to another service provider. It was not possible to login to the ex-ANZ, now CMC Markets, platform without agreeing to their Terms and Conditions. These were arrogant and open-ended. That is, even if I could cop them as written now, CMC Markets reserved the right to change them at any time without my approval. Who would, or should, agree to that?
CMC Markets - You're being played!
CMC Markets platform is based on the market maker principle - that is CMC Markets synthetically creates market prices that is best aligned to their bottom line NOT YOURS.
Pricing for stocks, indices, currency, bonds etc are not precisely correlated to actual market conditions so spreads and offer prices can trade according to CMC discretion (stated in their Terms & Condition) often opposed to your financial interests.
Put simply, CMC Markets trades against you. When (not if - as 80% of CFD traders lose money) you lose say $10,000 CMC directl...
The ANZ Banking Corporation has recently transferred their ANZ Share Investing business to CMC Markets Ltd. Before I was able to access and operate my account I was required to accept the terms and conditions for this new platform. On reading the T&C statement I found it difficult to agree to the following:
"8. You hereby authorize CMC Markets to share data in respect of your Account and/or your ANZ Cash Investment Account with any third party service provider of CMC Markets." and
"9. CMC Markets will collect, use and disclose information a...
ANZ -> CMC Move
Just had ANZ move us all over the CMC Markets website for our share trading. Looks like the ANZ costs are still in play even though CMC themselves only charge $11 a trade we still pay $19.95 a trade. The web site is good, took a while to find everything i already did, but i now am using it well with all the tools i used to have. We can trade international shares as well which is good if your into Amazon shares. No issues and a good experience so far hope it keeps up. Thinking about going to a cheaper site but , something like selfwealth as i am...experienced with a plan and dont need any research of hand holding of any type, so saving money would be good. still safety if also good with and anz holding my trading money and we still get chess sponsored certificates so we own the stock we buy unlike some other web sites where they own your stock for you but pretend you actually bought them. avoid this style of ownership at all costs.
Excellent customer service and the website is very professional & user friendly, They have a demo account to get used to the features and a support team to walk you through it over the phone. My only minor complaint is if one decides to trade crypto currencies, they only support Bitcoin and Etherium, would be nice to have more choices.
- ‹ Prev
- Next ›
Questions & Answers
Sorry, there are no questions yet.
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.