This CMC Markets review starts with the risk. CMC Markets is an MAS-licensed provider of CFDs and leveraged forex in Singapore. Its own Singapore website warns that CFDs “carry a high level of risk to your capital”, that “it is possible to lose more than your initial investment” and that you may have to make further payments. The Singapore site does not publish the share of clients who lose money; CMC’s UK site states that 69% of retail investor accounts lose money with its UK entity, as at November 2026.
MoneySense’s warning applies in full: with leveraged products like CFDs you may lose more than you originally invested, and short positions can lead to unlimited losses. This is a factual review of what CMC Markets offers and charges. It is not a suggestion to open an account or to trade.
What CMC Markets Offers
CMC Markets Singapore offers CFDs on forex, shares, share baskets, indices, commodities, treasuries, ETFs and cryptocurrencies, plus options. It also sells a product called Countdowns, on which, it warns, you could lose all of your investment. Its site also lists a CMC Invest account, which we did not review.
You trade on CMC’s own platform, MetaTrader 4 or TradingView. As with any CFD account, you need to pass a Customer Knowledge Assessment first. Our explainers on what CFDs are and what forex trading is cover the mechanics.
CMC Markets Review: MAS Licence and Client Terms
The MAS Financial Institutions Directory lists CMC Markets Singapore Pte Ltd as a Capital Markets Services licensee. Its licence covers dealing in securities, collective investment schemes, exchange-traded derivatives, over-the-counter derivatives and spot foreign exchange for leveraged trading, and providing custodial services. It is also an exempt financial adviser for issuing analyses and reports.
Money held with a CFD provider is not covered by SDIC deposit insurance, and nothing protects you from trading losses.
Losses beyond your deposit
CMC’s Singapore Terms of Business, dated 7 May 2026, say that if your account has a negative cash value after a close-out, that amount “represents a debt owed to us which is due and payable immediately”. Its Risk Warning Notice adds that leverage “can lead to large losses that exceed the amount of your initial deposit”. We found no negative balance protection in either document.
CMC Markets Fees and Spreads (as at November 2026)
All figures are from CMC Markets Singapore’s trading costs page.
| Item | CMC Markets Singapore charge |
|---|---|
| EUR/USD spread | From 0.5 points |
| USD/SGD spread | From 1.5 points |
| Singapore share CFDs: commission | 0.1% per side, minimum S$10 |
| US share CFDs: commission | 2 cents a unit, minimum US$10 |
| UK share CFDs: commission | 0.08%, minimum £9 |
| Hong Kong share CFDs: commission | 0.18%, minimum HK$50 |
| Overnight holding cost | Charged or credited daily at 5pm New York time; rates shown on the platform |
| Guaranteed stop-loss order | Premium varies by instrument, payable only if triggered |
| Inactivity fee | S$15 a month after 12 months without trading, if you hold a positive cash balance |
| Currency conversion | At CMC’s conversion rate; we did not find a published mark-up |
“From” spreads are minimums. Spreads can widen in fast or thin markets. CMC runs promotions and rebates; they change and we do not quote them.
The short version: CMC publishes its commissions and minimum spreads, but its overnight holding rates sit on the platform rather than the public page, and any negative balance is a debt you owe.
What the Public Pages Leave Out
CMC’s trading costs page says its income “comes predominantly from the spread”. That spread is a cost to you on every trade, paid whether the trade wins or loses.
Three things we could not find on CMC’s public Singapore pages: the share of Singapore retail clients who lose money, the current overnight holding rates (shown only on the platform), and the mark-up on currency conversion. If you are weighing CMC, ask for all three in writing before you fund an account.
Worked Example: Costs and Losses on a Share CFD
Our illustration: a CFD on S$10,000 of an SGX-listed share, held for 30 days, with S$2,000 of margin. CMC does not publish its holding rate on the public page, so we assume 5% a year for illustration; check the platform for the real rate.
- Commission: S$10 to open and S$10 to close.
- Holding cost: 5% a year on S$10,000 for 30 days, about S$41.
- Total cost: about S$61, or 3% of the deposit, before any price move.
A 10% fall in the share costs S$1,000, more than half the deposit once costs are added. A 20% fall wipes it out, and a gap beyond that leaves a debt.
The inactivity fee is a quieter cost. If you stop trading and leave S$500 in the account, after 12 months you would pay S$15 a month, S$180 a year, until you trade, withdraw or the balance runs out.
Who CMC Markets Does Not Suit
- People investing for the long term. Holding costs make CFDs an expensive way to own anything for years. Our SGX broker comparison shows what buying shares outright costs.
- Beginners, and anyone who has not used leverage before.
- Anyone who cannot top up margin at short notice or could not afford to owe money after a fast market move.
- Anyone tempted by products such as Countdowns, where CMC warns the whole investment can be lost.
We review IG and OANDA on the same factual basis, without ranking them. For long-term investing, see our investment platforms compared guide.
What To Do Next
- Look up CMC Markets Singapore in the MAS Financial Institutions Directory.
- Read the Terms of Business and Risk Warning Notice before you open anything, especially the sections on close-out and negative cash.
- Check the holding rate on the platform for any position you might keep overnight.
- Use our compound interest calculator to compare with unleveraged investing.
