Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

Forex trading

Discover forex trading and spread bet or trade CFDs on over 330 forex pairs, including EUR/USD, GBP/USD and AUD/USD.

  • 300,000 clients globally
  • No minimum deposit
  • Free sign-up

Why on trade forex with us?

We offer a number of benefits to trading on the global forex market – the largest and most liquid financial market in the world.

Tax-efficient trading

There's no capital gains tax on profits from forex spread bets and no stamp duty to pay when trading CFDs.1

Go long or short

Take a long or short position on your chosen FX pair, to trade on rising or falling prices

Trade from 30:1 leverage

Deposit just 3.3% of the full value of your position to open a trade.2

A regulated provider

CMC Markets Germany GmbH is a company authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) under registration number 154814.

Trade 24 hours a day

As it’s a decentralised market, you can trade on forex 24 hours a day from Sunday night to Friday night.

Hundreds of FX pairs

Trade on over 330 forex pairs, including major, minor and emerging pairs.

1Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK
2When trading using margin any losses will reflect the full value of the position.

Giving FX traders an edge

Continued investment in our HTML5 platform and mobile apps has been recognised through a number of industry awards, including Best Platform Features and Best Mobile/Tablet App, among spread betters, CFD and FX traders, in the 2019 Investment Trends UK Leverage Trading Report.​

What is forex?

If you’re new to forex trading, take a look at some of our helpful in-depth articles to get a better idea of what forex trading is and how it works.

What is forex?

Why on trade forex?

Forex trade examples

What is margin in forex?

Your questions answered

Learn more about trading forex with us through our FAQs below. Can't find what you’re looking for? Get in touch

Pricing and costs

How much does it cost to open an account?

There’s no cost when opening a live spread betting account. You can also view prices and use tools such as charts, Reuters news or Morningstar quantitative equity reports free of charge. You’ll need to deposit funds in your account to place a trade though.

What is the minimum trade size for forex?

You can spread bet from £0.30/point on EUR/USD, GBP/USD, USD/JPY and AUD/USD, and £0.40/point on EUR/GBP. You can see the minimum trade size for all instruments on the platform, in the ‘Product Overview’ under ‘Betting and Position Limits’.

What are the costs of spread betting?

There are a number of costs to consider when spread betting, including spread costs, holding costs (for trades held overnight – this is essentially a fee for the funds we ‘lend you’ to cover the leveraged portion of the trade), rollover costs and guaranteed stop-loss order charges (if you use this risk-management tool).

The spread is the key cost involved in spread betting, and is the difference between the buy and sell price of an instrument. The narrower the spread, the better value you receive, because the market only has to move slightly in your favour to offer the possibility of a profit on your spread bet.

Forex trades held open past the end of the trading day (5pm, New York time) are subject to holding costs, which can be positive or negative depending on your trade direction and the applicable holding rate. Holding costs for forex spread bets are based on the tom-next (tomorrow to next day) rate in the underlying market for the currency pair, plus 1% on buy positions or minus 1% on sell positions. Holding rates are expressed as an annual percentage and can be found in the ‘Product Overview’ for each instrument on the platform.

You can add a guaranteed stop-loss order (GSLO) to your trade, which guarantees to close you out at your specified level, regardless of market volatility or gapping. A cost is applied for using a GSLO, but if it's not triggered we'll refund 100% of the original GSLO charge. The charge, or ‘premium’, is calculated by multiplying the premium rate by the bet size.

You’re also able to roll forward positions over to keep a trade open beyond its expiry date. When you roll a forward position to the next contract, your profit or loss is realised and you enter the new trade at the mid-price, saving 50% on the spread cost.

Learn more

What are your spreads on forex?

These are the minimum spreads for our most popular forex pairs:

Instrument Minimum spread*

What are your margin rates on forex?

These are the margin rates for our most popular forex pairs, showing the percentage of the total trade value that you need to put forward to open a position.

Instrument Margin rate**
EUR/CHF 3.3%
EUR/GBP 3.3%
EUR/JPY 3.3%
EUR/USD 3.3%
GBP/USD 3.3%
USD/CAD 3.3%
USD/CHF 3.3%
USD/JPY 3.3%

How does CMC Markets make money?

Our income comes mainly from our spreads, while other fees – such as overnight holding costs – make a minor contribution to our overall revenue.

We never aim to profit from our clients’ losses – this is simply not the way we want to do business. Our aim is to build long-term relationships with our clients by providing them with the best possible trading experience, through our technology and customer service.

Our clients usually offset each other’s trades, with some going long on a particular instrument while others are short. In this way, CMC Markets isn’t exposed to the profits or losses of clients trading that instrument. Occasionally, if a large number of our clients all trade in the same direction, we hedge in the underlying market to protect our exposure to risk.

Products and accounts

Why spread betting?

Spread betting allows you to trade tax-free on a wide range of financial markets 24 hours a day, from Sunday nights through to Friday nights. Trade on your phone, tablet, PC or Mac on a wide range of instruments using leverage. Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

What is leveraged trading?

One of the advantages of spread betting is that you only need to deposit a percentage of the full value of your position to open a trade, known as trading on leverage. Remember, trading on leverage can also amplify losses, so it’s important to manage your risk.

Is CMC Markets regulated?

CMC Markets Germany GmbH is a broker regulated by the German Federal Financial Supervisory Authority (BaFin). We are therefore bound by strict legal requirements. These determine the way we conduct our business and include an obligation to deal fairly with clients. So you always know exactly where you stand.

How does CMC Markets protect client funds?

CMC Markets Germany GmbH is a company authorised and regulated by the German Federal Financial Supervisory Authority (BaFin). CMC Markets complies with the requirements of §84 of the German Securities Trading Act (WpHG) regarding client funds. It holds funds of private clients separately from its own funds in separate bank accounts. In the unlikely event that CMC Markets Germany GmbH is unable to meet its financial obligations, the EdW would cover any claim for damages by claimants up to EUR 20,000, provided that certain criteria are met.

What can I trade?

Choose from a wide range of major, minor and emerging forex pairs covering currencies and economies from around the world.

You can spread bet on a wide range of cash and forward instruments across these asset classes:

300+ forex pairs – EUR/GBP, EUR/USD, AUD/USD, GBP/USD, USD/JPY and more
60+ indices – UK 100, Germany 40, US 30, US SPX 500, Australia 200 and more
90+ commodities – including Gold, Brent and West Texas crude oil, Silver, Natural Gas
9,000+ shares & ETFs – Apple, Netflix, Lloyds, Rio Tinto, BP, Tesco, Amazon, Google and more
15 cryptocurrency instruments – bitcoin, bitcoin cash, ethereum, litecoin, ripple and more
30+ treasuries – including UK Gilt, Euro Bund, Euribor, US T-Bond, US T-Note 10 YR

View the full list on the platform

Do you offer a demo account?

If you want to try forex trading with a risk-free demo spread betting trading account, you can open a demo account now with just your email address and a password.

How to start trading on forex

  • 1


    Complete and submit our straightforward online application form. Apply now

  • 2


    Deposit funds with a debit card, PayPal or bank transfer.

  • 3


    Once you’ve funded your new account, you’re ready to start trading.

Ready to trade on forex?

No minimum deposit • Or try a FREE demo

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*A minimum spread is the lowest spread that will be shown on the given instrument. If the underlying market spread widens throughout the trading day, or you are trading out of hours, the platform spread may also widen. The spreads shown are for the first price available for the average market trade/bet sizes in the relevant instrument. The spread will widen for larger trade/bet sizes; see our platform for more information.
**Spreads, commissions and margins (as applicable) are provided for information only. Please refer to the product overview area of our trading platform for the most up-to-date information including trading hours and spreads.