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CMC Markets offers a comprehensive service that will appeal to beginner and more experienced traders alike. Brokerage fees go as low as $9.90 or 0.075% for more frequent traders, making CMC Markets one of the more affordable stock trading platforms. It also scores well when it comes to resources and guides, with an extensive backlog of useful materials to help customers keep on top of the market.
And if you're still not impressed, you'll be pleased to know that CMC Markets has also taken out four 2021 Mozo Experts Choice Awards in the Casual Trader, Regular Trader and Active Trader award categories.
With a CMC Markets stockbroking account, you’ll be able to trade in Australian and international markets using a word-class platform. There are three tiers available depending on your level of activity, with brokerage costs decreasing the more frequently you trade. They are:
- Classic: which charges $11 or 0.1% of each trade, depending on which is greater, and is available if you make up to 10 trades per month.
- Active Investor: which charges $9.90 or 0.08% of each trade, depending on which is greater, and is available if you make up to 30 trades per month.
- Premium Trader: which charges $9.90 or 0.075% of each trade, depending on which is greater, and is available if you make more than 30 trades per month.
Each time you qualify for a new tier, you’ll be notified by email, and you’ll be able to take advantage of a greater set of tools and resources the further up the chain you go.
There are two platforms available: standard and Pro, with the latter available to Active and Premium users. If you’re using the pro version you’ll have more options to customise the interface to suit your preferences. Regardless of which version you’re using, you’ll be able to make trades online, over the phone, or via the app, meaning you’ll have complete control over your account no matter where you are. Just be mindful that trades made over the phone are much more expensive.
You’ll also get access to an assortment of useful guides and resources. This is where CMC Markets really stands out. Its in-house team of experts provides comprehensive news and analysis in the form of articles, ebooks, podcasts and videos. News sources can be filtered by region, topic and asset class, so you’ll easily be able to get updates on your preferred market. What’s more, a number of third party reports are available to complement CMC Market’s own expertise.
Signing up is no trouble at all. All you have to do is provide your personal details, some form of ID (such as a driver’s licence, medicare card or passport), along with your bank account details. Processing your application will take 2-4 days, after which you can begin trading.
And if you encounter any snags along the way, you can contact CMC Markets via email or by phone on weekdays between 7.30am and 5.30pm (Sydney time). There’s also a live chat option on the website, which can be useful if you have a query that requires a prompt response.
Regardless of your experience level, you’re likely to find the CMC Markets platform intuitive, easy to use, and affordable. Casual and regular traders will benefit from the tiered fee system, which charges you less per trade the more active you are.
If you plan to make a trade over the phone, just keep in mind that the brokerage fees are much higher than if you conduct trades online or via the app. Phone brokerage for trades of up to $20,000 will incur a $59.95 fee, trades between $20,001 - $37,500 will incur a $82.50 fee, and any larger trades will charge 0.22%.
This product is not currently reviewed.