Is CMC Markets a Scam?
CMC Markets has been active on the market for so long that it is hard to find a company with more experience. After their launch in 1989 in London, they developed into one of the most trusted trading companies and a broker that can always adapt to market changes. Just in the last three years they were awarded Financial Services Provider of the Year award and Shares Awards 2013, 2014 & 2015 and they are proud sponsors of Australia’s Super XV Rugby team the NSW Waratahs and Land Rover Ben Ainslie Racing, which tells a lot about this company’s reputation. Although on the outside this looks like a great company, new traders will always want to know is CMC Markets a scam? We are going to search this broker’s security system in order to see if there are any traces of illegal activity or fraud attempts. Your safety comes first, so we are here to tell you if you can trust this company. Is CMC Markets a scam? Let’s find out.
Is CMC Markets a Scam? | Security
Safety first, right? Then let’s start with the general security level of this company. First of all, your connection to their website and login is private because they use a secure TLS connection and have a trusted and valid server certificate. This basically means that the data you provide for login is well protected and that no third party can read it. The second important thing is that traders are protected under the regulation laws. The body that regulates CMC Markets is Financial Conduct Authority (FCA) and they make sure everything is done according to rules. Under that regulation, all clients’ accounts are segregated from the company accounts, so only you can access your funds – the broker cannot touch it. You are even eligible for a compensation of up to £50,000 if there was a shortfall of funds. Is CMC Markets a scam? So far no, because trust us, it doesn’t get safer than this. But if you want to know more about what the company has to offer, read our CMC Markets Review 2016, as we will now move on to money transfer methods.
Is CMC Markets a Scam? | Money transfer
Money transfer works great with CMC Markets. The best way to fund your account is to use a debit or credit card, and here you can use Visa, MasterCard and Maestro. Just remember that there is 1.8% charge for credit card payments, but this is a fairly regular practice and the amount is really not that big. You can also fund your account by simply transferring money from your bank account. To make a withdrawal just log in to your account and choose “Payments” and then “Withdrawals”, and you will have to provide some proof of identity like and I.D. or a driver’s license. As we already wrote in our article CMC Markets Minimum Deposit, there is no minimum deposit for funding your account. Is CMC Markets a scam? Even money transfers show that it’s not. What about education and support?
Is CMC Markets a Scam? | Education
Education is an important sign that the broker is honest and reliable because a scam broker would not want to educate you about trading. CMC Markets offers a lot when it comes to learning and all education materials are free of any charge. First of all, basic trading and trading strategies are explained in a very detailed manner on the website. You can even choose your courses based on your level of experience and decide between Beginner, Intermediate or Advanced training. There is a lot to choose from: analyst articles, glossary, trading guides, technical indicators… You can also learn how to use CMC Markets Trading Platform. And lastly, this company offers online webinars and regional seminars that you can sign up for and gain more experience first-hand. Still wondering is CMC Markets a scam? Education shows they care about their traders. There is only support left to check.
Is CMC Markets a Scam? | Support
Support is a huge part of any serious broker company. A broker that wants to scam you is going to take your money and then never answer your calls because that was their idea from the start to get you into trouble. And that is why support is one final proof this is an honest broker – they will help you in any way they can. There are two ways to contact them. The fastest way is to call them on their support number and one of their operators will be there to help you. The second option is sending them an email with your problem. We tested them and they are extremely fast and helpful, there is nothing they can’t solve. They will even provide all the information about their app, but you can read all about that in our article on CMC Markets App. Is CMC Markets a scam? Support is the final proof they are not.
Is CMC Markets a Scam? | Conclusion
We started this scam test with a simple question: is CMC Markets a scam? Now we have the answer. They have excellent security measures and they have a financial body that regulates their work overseeing them. Money transfers are always executed without any problems and both deposit and withdrawal can be done very easily. They have an excellent education program with a lot of free stuff and webinars where you can improve your trading skills. And finally, their support team is always ready to help you with any problems you have and they are always available. Our conclusion is that CMC Markets is most certainly not a scam. This is an honest and reliable broker that will not disappoint you. What are you waiting for? Open an account with CMC Markets right now! The world of forex is waiting for you.