CMC Markets

What CMC Markets does

CMC Markets is a publicly listed (LSE: CMCX, FTSE 250) multi-asset online trading provider founded in 1989 in London and now headquartered in Bermuda, serving more than 2 million retail clients globally through 15 offices across the UK, Europe, Asia-Pacific, North America, and the Middle East. The platform offers leveraged CFDs, spread betting, options, forex, shares, ETFs, bonds, commodities, and cryptocurrencies across roughly 12,000–13,000 instruments, distributed through a proprietary Next Generation web and mobile platform alongside MetaTrader 4, MetaTrader 5, and TradingView integration.

The company's technology stack has absorbed over £100m of cumulative investment, producing differentiated features such as a Pattern Recognition Scanner covering 120+ instruments, a Client Sentiment Tracker, integrated research from Morningstar, Reuters, and TipRanks, and execution infrastructure delivering 0.018-second median MT4 trade speeds with a 99.29% fill rate. The product surface is increasingly multi-asset: a 0%-commission multi-asset platform launched in March 2026, a new European certificates and warrants franchise via Frankfurt-based CMC Markets Securities GmbH in May 2026, and tokenised share issuance via a 51%-owned blockchain subsidiary (StrikeX) on Arbitrum.

Revenue is predominantly spread-based on CFDs (transaction-fee model), supplemented by commissions on share CFDs, FX Active commissions of $2.50 per $100k notional, overnight holding costs, and a growing B2B stream (£111.3m of £293.3m total in the most recent fiscal year) generated from white-label infrastructure, prime brokerage, and partnerships with Revolut (29 countries), Westpac, ANZ Bank, and ASB Bank. Sub-brands CMC Connect (B2B), CMC Invest (investment platform), and CMC CapX (tokenised assets) reflect a deliberate pivot from pure retail CFDs toward institutional infrastructure and digital-asset products.

Name

CMC Markets

Legal name

CMC Markets Bermuda Limited

Website

https://cmcmarkets.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

CMC Markets is a publicly listed (FTSE 250) multi-asset online trading platform founded in 1989, serving 2m+ retail traders globally and providing white-label CFD infrastructure to neobanks and banks including Revolut, Westpac, ANZ, and ASB across 13,000+ instruments.

Ownership category

akta.pro rank

Product category

Online Trading & Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Investment Banking and Securities Intermediation (523150)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Institutional Multi-Asset Trading Platforms (OTC/RFQ) (FSAFAEAB)

akta.pro secondary industry

Multi-Dealer Platforms (Multi-Asset) (FSAFAEAF)

Keywords

• CFD trading platform
• Forex trading
• Spread betting
• Multi-asset brokerage
• Derivatives trading

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Spread-based revenue (CFD trading): Primary revenue driver. Income comes predominantly from the spread, which is built into the buy and sell prices of an instrument. Spreads start from 0.0 pips on major FX pairs with FX Active account, with standard CFD accounts offering competitive spreads across 13,000+ instruments including indices, commodities, shares, ETFs, bonds, and cryptocurrencies.
2. Share & ETF CFD commissions: Commission charge on share CFDs when entering and exiting trades. UK and European shares: 0% commission. US shares: USD 0.02 with minimum USD 10.00. Canada shares: CAD 0.02 with minimum CAD 10.00. Greece: 0.45% with minimum EUR 20.00.
3. Overnight holding costs: Charge applied at end of each day (5pm New York time) on positions held. Holding cost can be positive or negative depending on trade direction and applicable holding rate.
4. FX Active commission: Fixed commission at 0.0025% per transaction ($2.50 per $100,000 notional value). Charged upfront for opening and closing trades on MT4.
5. B2B institutional services: Prime brokerage services, trading infrastructure provision to neobanks and banks. Generated £111.3 million from B2B clients in last fiscal year. Partnership model with Revolut, Westpac, ANZ, ASB.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels6 records

Core offering

CMC Markets operates a global multi-asset online trading platform offering CFDs, spread betting, forex, options, shares, ETFs, bonds, commodities, and cryptocurrencies across more than 12,000 instruments. It serves retail traders through proprietary platforms (Next Generation, MT4, MT5, TradingView integration, mobile app) and institutional clients through white-label trading infrastructure, prime brokerage, and banking partnerships.

Product overview

CMC Markets operates as a multi-asset online trading and investing platform offering a comprehensive portfolio of products across forex, indices, commodities, shares, ETFs, bonds, cryptocurrencies, and options. The platform architecture consists of CMC's proprietary Next Generation web and mobile trading platform as the core product, supplemented by MetaTrader 4 and MetaTrader 5 platforms, plus TradingView integration. The company offers various account types including standard CFD trading and FX Active for high-volume forex traders. Under the Group structure, the B2C retail business is complemented by CMC Connect (B2B institutional), CMC Invest (investment services), and CMC CapX (tokenised assets/blockchain initiatives). Recent launches include a new multi-asset platform (March 2026), European certificates and warrants (May 2026), MetaTrader 5 in Canada (June 2026), and the Spectre non-leveraged spread betting product. The company also holds stakes in blockchain technology provider StrikeX for digital asset strategy development.

Differentiator

Problem solved

Functional benefit

Brands

• Spectre: Non-leveraged spread betting product launched initially for professional clients and expanded to retail, part of CMC Markets' product expansion strategy.
• FX Active
• Next Generation Platform

Products and services

• CMC Next Generation Platform CMC Markets' proprietary award-winning web-based trading platform offering access to over 12,000 instruments including CFDs on forex, indices, commodities, shares, ETFs, bonds, and cryptocurrencies, with advanced charting, TradingView integration, pattern recognition scanner, TipRanks analysis, and Morningstar equity research.
• MetaTrader 4 Globally popular forex and CFD trading platform offered by CMC Markets, providing access to forex, indices, commodities and cryptocurrencies with automated trading via Expert Advisors, advanced charting tools, and no scalping restrictions.
• MetaTrader 5 Advanced trading platform offering access to global markets with more order types, timeframes, pre-installed indicators, depth of market display, and inbuilt economic calendar, covering forex, indices, commodities, shares and cryptos.
• TradingView Integration Integration with TradingView platform allowing users to view and analyze charts on TradingView while trading with CMC Markets' spreads and execution, with over 400 technical indicators, community features, and Pine Script customization.
• CMC Mobile App Mobile trading application for iOS and Android devices enabling traders to access over 13,000 instruments, execute trades, view advanced charting with 40+ technical indicators, and receive market news and analysis on the go.
• CFD Trading Contracts for Difference (CFD) trading allowing speculation on price movements of underlying financial assets including forex, indices, commodities, shares, ETFs, and cryptocurrencies without owning the underlying asset, with leverage up to 200:1 for retail clients.
• Options Trading OTC options trading on leading indices (S&P 500, Nasdaq 100, FTSE 100, DAX 40), 'Magnificent Seven' US tech stocks, and gold and silver ETFs, with zero commission, fractional options, and real-time Greeks.
• FX Active Account designed for high-volume forex traders featuring spreads from 0.0 pips on six major FX pairs (EUR/USD, AUD/USD, GBP/USD, NZD/USD, USD/CAD, USD/JPY) with fixed low commission at $2.50 per $100,000 notional value, plus 25% spread discount on 300+ other FX pairs.
• Forex Trading Foreign exchange trading on up to 300 forex pairs with leverage, covering major, minor and exotic currency pairs with spreads from 0.0 pips on major pairs and ultra-fast execution.
• Indices Trading CFD trading on over 80 cash and forward index CFDs based on FTSE 100 and dozens of global markets including US, Canadian, European, Asian and African indices, with spreads from 1pt on US NDAQ 100 and 1.2pts on Germany 40.
• Commodity Trading CFD trading on 100+ commodities including precious metals (gold, silver), energies (crude oils, natural gas), and agricultural products, with access to commodity indices for sector-wide exposure with a single position.
• Shares Trading CFD trading on 11,000+ shares from over 20 countries with 0% commission on UK and European shares, with extended hours trading on 80+ US stocks including the 'Magnificent Seven' from 9am UK time before US markets open.
• ETF Trading CFD trading on 1,000+ exchange-traded funds tracking various underlying assets including technology, biotech & pharma, and consumer discretionary themes, with commission-based pricing and access to Morningstar equity analysis.
• Rates and Bonds Trading CFD trading on 50+ government bond and interest-rate instruments including gilts, bonds, bunds and treasury notes, allowing speculation on future interest rate movements with tight spreads from 1 point.
• Cryptocurrency Trading CFD trading on popular cryptocurrencies including bitcoin, ethereum, and altcoins like polygon and TRON, with no crypto wallet required, traded directly from the CFD platform with leverage and spreads from 0.65 points.
• Certificates and Warrants Listed securitised derivatives launched in Germany and Austria through CMC Markets Securities GmbH, with crypto-linked products as opening focus and continuous rollout of new products planned.
• Spectre Non-leveraged spread betting product launched for professional clients and later expanded to retail, part of CMC Markets' product expansion strategy providing traditional finance and decentralised finance integration.
• CMC Invest B2C investment platform under the CMC Markets Group umbrella, offering share trading and investment services.
• CMC Connect B2B platform under CMC Markets Group providing institutional and partner-facing trading infrastructure and services.
• CMC CapX B2B and B2C brand under CMC Markets Group involved in tokenised assets and blockchain-based financial products in partnership with StrikeX.
• Prime Brokerage New prime brokerage business launched as part of CMC's expansion into institutional and B2B channels, providing services to banks, brokers and fintech platforms.
• Multi-Asset Platform Multi-asset platform offering access to over 12,000 global shares and ETFs with 0% commission and no platform or holding fees, allowing clients to trade shares, CFDs, and options from a single account.

Quantifiable outcome

• 15% revenue growth to £392.6 million NOI in FY2026
• +6 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability4 records

Feature8 records

Partnerships

Nine partnerships are on record, tiered core and flagship.

• iSAM SecuritiescoreTechnology or Integration · 23 June 2026iSAM Securities Apex liquidity bridge technology suite integrated with CMC Markets. Apex users can access CMC's liquidity alongside existing LP network, giving brokers greater flexibility in sourcing, managing, and optimizing liquidity.
• ANZ BankflagshipStrategic or Co-development Partner · 12 June 2026Major banking partnership for fintech services. ANZ is one of Australia's major banks. Partnership is part of CMC's institutional scaling strategy.
• ASB BankcoreStrategic or Co-development Partner · 12 June 2026Banking partnership for fintech services. ASB Bank is a New Zealand bank. Partnership contributes to regional growth in Asia-Pacific.
• UpvestcoreTechnology or Integration · 15 April 2026Partnership with fintech infrastructure provider Upvest to launch multi-currency securities trading (stocks, ETFs, mutual funds in GBP, EUR, USD) in Germany starting autumn 2026. Upvest provides execution, custody, settlement, and operational processes through investment infrastructure API.
• Kinexys by J.P. MorgancoreTechnology or Integration · 4 March 2026Collaboration with Kinexys by J.P. Morgan to enable instant blockchain-based settlements. Demonstrates CMC's focus on blockchain and digital asset infrastructure.
• WestpacflagshipStrategic or Co-development Partner · 20 November 2025Partnership with Australia's second-largest bank for FinTech services. Deal expected to boost trading volume and customer base. Part of CMC's strategy to become infrastructure layer for banks.
• CapXcoreStrategic or Co-development Partner · 8 October 2025StrikeX, in collaboration with CMC Markets and CapX, completed first tokenised share issue on Arbitrum Layer 2 blockchain. Share issued by CMC and safeguarded by CMC Invest as custodian. Positions companies for broader commercial rollout of tokenised assets.
• StrikeXcoreTechnology or Integration · 8 May 2025CMC Markets acquired majority stake in London-based blockchain startup StrikeX, increasing ownership from 33% to 51%. This move enhances CMC Markets' digital asset strategy and supports development of blockchain-based financial products. StrikeX tokenisation engine used for first tokenised share issue with CapX.
• RevolutflagshipStrategic or Co-development Partner · 1 January 2024Partnership to provide CFD trading infrastructure for Revolut's retail CFD offering, scaling to 29 countries primarily in Europe. Revolut operates in 160 countries serving over 70 million customers. This is a key B2B partnership providing infrastructure revenue.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• IG Group: LSE-listed, UK-headquartered multi-asset broker offering CFDs, spread betting, and share trading across global markets. Closest direct competitor to CMC, overlapping in retail leveraged products, B2B white-label infrastructure (IG's Prime Services/Tastyfx), and identical regulatory footprint (FCA, ASIC, BaFin, CySEC).
• Plus500: LSE-listed retail CFD broker with proprietary platform serving customers across Europe, Asia, and other regions. Closely comparable business model with spread-based revenue, similar customer segments, and similar regulatory exposure to ESMA-style product intervention.
• eToro: Multi-asset retail platform offering CFDs alongside share dealing and crypto. Comparable in offering CFDs on 13,000+ instruments, multi-platform presence, and global retail targeting, with stronger social/copy-trading positioning.
• Saxo Bank: Denmark-headquartered multi-asset broker and white-label provider for banks. Comparable across both retail/institutional channels and B2B infrastructure provisioning, similar to CMC's bank-partnership thesis with Revolut/Westpac/ANZ/ASB.
• Pepperstone: Australian-headquartered CFD and forex broker with strong MT4/MT5/cTrader platform offering. Directly competitive in CMC's largest revenue market (Australia) and adjacent in platform technology, spreads, and execution quality benchmarking.
• FOREX.com / StoneX: StoneX-owned retail forex and CFD broker with global presence. Comparable across FX and CFD product mix, MT4/MT5 platform support, and similar execution-quality marketing positioning targeting active traders.
• OANDA: Global retail forex broker with proprietary platform, MT4 integration, and institutional B2B services. Comparable in product scope (forex/CFD), platform approach, and institutional offerings; smaller scale but similar regulatory footprint.

Broad incumbents

• Interactive Brokers: Larger US-headquartered multi-asset broker with global institutional and retail reach. Comparable as a multi-asset platform serving retail and institutional customers; broader in product scope and US market access that CMC lacks.

Emerging players

• Trading 212: UK-headquartered commission-free multi-asset platform with CFD and share dealing offerings. Comparable to CMC's new multi-asset platform launch — directly targets the same European retail segment with zero-commission share trading and proprietary UX.
• Robinhood: US-headquartered retail multi-asset platform with share dealing and crypto. Not directly competitive (US-restricted market) but comparable as a multi-asset retail destination with zero-commission positioning that CMC's new platform mirrors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/cmcmarkets
• LinkedInlinkedin.com/company/cmc-markets

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CMC Markets