The platform is the product

CMC Markets' Next Generation platform is one of the few proprietary retail trading platforms that stands up to independent scrutiny. The charting engine supports 115+ technical indicators, pattern recognition tools, and a customisable workspace that experienced traders will find useful. Reuters news, client sentiment data, and economic calendar integration ship natively with the platform rather than bolted on. For UK traders who want spread betting on a platform that doesn't feel like a compromised ECN terminal, Next Generation is the strongest option in the field.

Spread betting in the UK

CMC is one of the dominant names in UK spread betting, a tax-free product under HMRC rules that offers equivalent exposure to CFDs without capital gains liability on profits. The product breadth is real: UK traders can spread-bet on global equities, commodities, indices, FX, and bond CFDs from the same Next Generation account. This alone positions CMC well above most brokers for UK-based active traders.

Bond CFDs

CMC offers bond CFD exposure across major government debt instruments including UK Gilts, German Bunds, and US T-Notes, a meaningful addition for traders looking to express macro rate views or hedge duration risk alongside their equity and FX positions. Few retail brokers at this price point include government bond CFDs in their standard instrument list.

EUR/USD from 0.7 pips, no commission: competitive for UK traders

EUR/USD spreads average 0.7 pips during London hours, not the cheapest but competitive for a market maker of this scale. Major equity indices carry 1-point spreads and GBP/USD averages around 0.9 pips, both competitive for a spread-only model. There is no commission on any instrument, which simplifies the cost calculation. Overnight financing is standard and clearly disclosed.

FCA, ASIC, BaFin, and DFSA: LSE-listed with FSCS coverage

FCA (173730), ASIC (238054), BaFin, DFSA, and FMA New Zealand. LSE-listed with public annual reporting. UK clients get FSCS coverage up to GBP 85,000.

Where it falls short

An inactivity fee applies after 12 months of no trading, GBP 10/month for UK accounts. Customer support quality is adequate but not consistent outside UK hours. Research depth doesn't quite match IG's integrated Reuters/Morningstar environment. MT4 comes as an option but feels like an afterthought compared to the strength of Next Generation.

Bottom line

CMC is the right choice for UK traders who want spread betting, a strong proprietary platform, and FCA-plus-LSE-listing credibility. Outside the UK, it competes in a tighter field and the cost advantage over ECN brokers narrows considerably.