CMC Markets Spread Betting Review

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1.1 stars
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luckystrike's Review of CMC Markets Spread Betting

11th Feb 2008

Overall Rating

3 stars
  • Value for money
    3.5 stars

Yes CMC is good for Spreadbets and CFDs - just make sure you make really good use of their ordering system. Its easy to place limit buys and stop losses and you can pay a little extra on entry order if you want "guaranteed" stop losses. Just watch the units as £1 per point = 100 shares for companies. You can easily place order for tens of thousands without realising. Also you can trade the indices and sectors very easily with enormous values thanks to the minimal margin - used to be £50 for the FTSE or £100 for the Dow Jones. The DJIA spreadbet works in pounds not dollars so watch that too.

Also check the prices on CMC against your normal broker. You should note that spreadbet carries a wider spread in price to cover the financing. Also you will pay for gearing up based on approx 9% p.a for "cash prices". I found it was more cost effective to use "quarterly prices" for trades over 7 days long.

Andy

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