CMC Markets
- Founded
- 1989-01-01 in London, United Kingdom (originally as Currency Management Corporation)
- Headquarters
- London, United Kingdom
- Phone
- +44 20-7170-8200
CMC Markets plc is a UK-based online trading and investment company founded in 1989 by Peter Cruddas, now Lord Cruddas of Shoreditch, who remains CEO. Initially a foreign exchange market maker, it evolved into a multi-asset platform offering spread betting, CFDs, share dealing, and forex. Headquartered in London with major hubs in Sydney and Singapore, the firm employs around 1,068 people and serves over 12 million clients globally. Listed on the London Stock Exchange (ticker CMCX) and a FTSE 250 constituent, CMC operates through three verticals: direct-to-consumer trading and investing, platform technology as a service for institutions, and emerging Web3/DeFi infrastructure. In FY2026, the company reported net operating income of £392.6 million and profit before tax of £101.3 million, driven by record Australian stockbroking and key institutional partnerships such as Westpac and ASB Bank. CMC has won numerous awards for its proprietary Next Generation platform and execution quality, cementing its position as a leading online broker.
Detailed Review
History & Evolution
CMC Markets was founded in 1989 by Peter Cruddas with just £10,000 in initial capital under the name Currency Management Corporation. The company obtained UK regulatory authorisation from the AFBD in 1992 and launched a real-time FX trading platform in 1996, claiming the first online FX trade using its proprietary MarketMaker software. Between 1996 and 2000, the software was licensed to banks before being reintegrated exclusively into CMC. In 2000, the company introduced CFDs, followed by online spread betting in 2001. Global expansion began in 2002 with an office in Sydney, then New York in 2003, and the acquisition of Canadian broker Shorcan Index in 2005. The brand was rebranded to CMC Markets in 2005. After an abandoned IPO in 2006, the company successfully listed on the London Stock Exchange in February 2016.
Business Model & Products
CMC operates three strategic verticals. The Direct-to-Consumer (D2C) vertical provides multi-asset trading and investing via CFDs, spread betting, share dealing, forex, indices, commodities, cryptocurrencies, and bullion. Clients access these through the proprietary Next Generation platform, as well as MetaTrader 4, MetaTrader 5, and TradingView. The Platform Technology as a Service (B2B) vertical offers institutional-grade platform technology and execution services, including white-label partnerships with banks such as Westpac, ASB Bank, and ANZ. The Web3/DeFi vertical is building blockchain-based infrastructure for trading, custody, and settlement of digital assets. Key brands include CMC Markets Invest (zero-commission stockbroking in UK, Australia, US, Canada, Japan) and StrikeX (51% cross-owned crypto trading app).
Financial Performance
In FY2026 (year ended 31 March 2026), CMC reported net operating income of £392.6 million (up 15% YoY), EBITDA of £117.8 million, and profit before tax of £101.3 million (up 20%). The Australian stockbroking business delivered a record NOI of A$140.3 million. The company completed a remediation charge in Australia but continued to scale institutional partnerships, including a transformational Westpac partnership covering approximately A$39 billion in assets under administration across 500,000 share-trading accounts. A neobank API partnership drove strong retail account growth, with account openings increasing 2,400% in under a year. CMC is also advancing its Super App concept, offering 24/5 US equities and 24/7 crypto and bullion trading.
Regulation & Licensing
CMC Markets holds eight regulatory licences globally, including from the FCA (UK) and ASIC (Australia). It operates in 15 offices across 12 countries on four continents, ensuring compliance and service across key markets.
Awards
The company has received numerous industry accolades. Recent examples include Best Spread Betting Broker at the Good Money Guide Awards 2026, No.1 Most Currency Pairs and Best-in-class Overall Excellence at ForexBrokers.com Awards 2026, Best Broker for Active Traders at the Professional Trader Awards 2025, and No.1 for Commissions & Fees at ForexBrokers.com Awards 2025.
Key Products
CMC Markets Next Generation
Proprietary multi-asset trading platform for CFDs, spread betting, and investing. Offers advanced charting, risk management tools, and automated trading.
MetaTrader 4 (MT4)
Industry-standard third-party platform integrated with CMC’s execution and pricing. Features automated trading (Expert Advisors) and tight spreads.
MetaTrader 5 (MT5)
Enhanced version of MT4 with additional asset classes (equities, commodities) and improved analytical tools.
TradingView
Social-charting platform integrated for charting and trade idea sharing, available on CMC Markets.
CMC Markets Invest
Retail stockbroking service offering zero-commission share dealing on US, UK, Canadian, Japanese markets, plus ETFs and investment funds.
Spread Betting
Tax-free (UK) derivatives on indices, forex, commodities, and shares via CFDs and spread bets.
CFDs (Contracts for Difference)
Leveraged derivatives on over 10,000 instruments including forex, indices, commodities, shares, cryptocurrencies, and bullion.
Platform Tech as a Service (B2B)
White-label platform technology and execution services for banks and financial institutions (e.g., Westpac, ASB Bank, ANZ).
Web3/DeFi Infrastructure
Institutional-grade crypto trading, custody, funding, and withdrawal services built on blockchain technology.
StrikeX
Mobile-first crypto trading app (51% cross-ownership) targeting retail crypto investors.
Offices & Headcount
1068 employees (approx.)
Key Persons
- Peter Cruddas
Founder & Chief Executive Officer
- David Fineberg
Deputy Chief Executive Officer