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Reviewed by CMC Markets General Information
CMC Markets was founded by Peter Cruddas in 1989. Since then, the company has grown to become a global leader in online retail trading. There have been numerous significant milestones for the Group over the past 25 years, including the company's expansion into new markets around the world and continued championing of innovation and new trading technology.
When “Currency Management Corporation”, later abbreviated to CMC, first began trading in London in 1989 as an FX broker, the office contained one desk, one telephone and one highly ambitious trader and entrepreneur. Over the following years the company grew rapidly, and in 1996 it launched the world’s first online retail FX trading platform, allowing its clients to take advantage of markets previously only accessible to institutional traders.
In 2000, CMC Markets expanded its business to become a CFD broker. In 2001, the company launched an online financial spread betting service, becoming the first spread betting company to launch the daily Rolling Cash® Bet. The innovative daily Rolling Cash® bet concept subsequently became an industry benchmark.
In 2002, CMC Markets opened its first overseas office in Sydney, launching into the Australian market as an online CFD and foreign exchange provider. By 2007 the company had expanded its global footprint with additional offices in New Zealand, Germany, Canada, Singapore and Sweden, and had sold a 10% equity stake to Goldman Sachs. Further global growth followed over the next few years, with offices opened in Norway, Spain, Italy, France, China, Austria and Poland, taking the number of operations around the world to 14.
CMC Markets launched its award-winning* Next Generation platform in 2010 and since then has rolled it out across all the regions in which the Group operates, frequently adding new tools, features and enhancements.
In 2014 the Group celebrated its 25th anniversary and over the last two years has received more than 50 awards worldwide – a recognition of the quality of the Next Generation trading platform and associated service.
In 2015, CMC Markets announced a 61% increase in underlying profit before tax to £51.9 million, for the financial year ended 31 March. The Group also extended into Eastern Europe with the launch of a Warsaw office, bringing the total number of offices up to 14. In July, a new fixed-odds product, Countdowns, was launched in the UK, Australia and New Zealand, before it was later rolled out across Europe. In November, CMC Markets picked up three accolades at the 2015 Shares Awards, including Financial Services Provider of the Year for a fourth time in five years.
CMC Markets UK plc (173730) and CMC Spreadbet plc (170627) are authorised and regulated by the Financial Conduct Authority except for the provision of Countdowns for which CMC Markets is licensed and regulated by the Gambling Commission, reference number 42013.
*Awarded 'Best Trading Platform Features', Investment Trends 2014 UK Leveraged Trading Report, based on highest user satisfaction among spread bettors, CFD traders and FX traders; 'Best Online Trading Platform', Shares Awards 2013 & 2014.
