SYDNEY, May 30, 2011 /PRNewswire/ -- Since the launch of the market's lowest price of $9.90 per trade, CMC Markets has attracted both active and casual traders. According to CMC Markets, these traders are looking not only for low brokerage but also account features which help them take control of their own decisions, such as inbuilt educational webinars, market updates via social media, live charting and trading tip blogs to help investors stay ahead of the game.
CMC's efforts to shake up the online broking market have been bolstered by recognition from Canstar Cannex in its new online broking report, which has named CMC Markets as the best value online share trading platform in Australia (out of 35 online trading platforms).
Canstar Cannex said in a statement: "CMC Markets blitzed the field this year, largely because of its aggressive repricing strategy. This was made all the more significant because none of the desired features of CMC's trading account platform were touched, let alone slashed."
Since the launch of its price point of $9.90 in August 2010, CMC Markets has made strong inroads into the increasingly competitive online broking market, which is 80% dominated by the largest players. CMC has increased business turnover by as much as 40% and has grown its active client base by over 60%, a testament to how active traders are drawn to CMC Markets trading platform features and low brokerage.
"When we launched this pricing strategy we wanted to tap into market sentiment around the two most important things for a trader: ease of use and low cost. We were conscious not to lower our prices at the expense of our account features, and our efforts in this area have earned us the appreciation of existing and new customers," said Louis Cooper, Head of CMC Markets Australia and New Zealand.
Canstar Cannex also awarded CMC Markets five star ratings in both the 'trader' and 'casual investor' online broking categories.
CMC Markets undertakes significant educational efforts, for example Investing IQ, an introductory program for newer online traders. "Traders of all levels are taking control of their own decisions and we are constantly adding new services to meet the needs of our varied customer base. We think trader education is for life, so our strategy is to offer something for all levels of experience," Mr Cooper concluded.
About CMC Markets
The CMC Markets Group, a leading independent financial services provider, offers a range of investment products and investment tools including shares, options, listed managed investments, warrants, interest rate securities and Contracts for Difference (CFDs). Through our partnerships we can also provide access to managed funds and margin lending execution. In 2007 CMC Markets launched its broking service with the acquisition of Andrew West Stockbroking and CMC Markets Stockbroking is now one of the only non-bank aligned, online stockbrokers in Australia. CMC Markets' institutional partner Goldman Sachs owns a 10% stake in the company.
CMC Markets is a pioneer of CFD trading in Australia and a world leading CFD provider. With offices in London, Frankfurt, Dublin, Madrid, Vienna, Sydney, Tokyo, Toronto, Beijing, Auckland, and Singapore, CMC Markets represents clients in over 70 countries. The company was founded in 1989 and is regulated by ASIC in Australia. CMC Markets Stockbroking is a participant of the ASX Group.
For more information or additional comments, please contact:
+61 (02) 82212124
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SOURCE CMC Markets