CMC markets are a “multi-award winning platform” with over 10,000 instruments and 57K+ clients.

The main selling point for me, is how the platform looks because it looks incredible.

img 585b0b1689a53

Start by registering an account

img 585b0b4d472cd

When you first sign-up to CMC, you’ll be given the option of opening either a spread betting account or a CFD account.

Spread-betting and CFDs

With spread betting, you’re gambling. Gambling profits are tax-free, in most places. CFDs, in place of shares for example, mean that you don’t pay “stamp duty”.

img 585b0bacb1e83

I prefer the CFD account because you can lose money really fast on the spread betting account if you don’t have a large initial deposit.

But you can find out more about it in this blog post by CMC.

Demo accounts allow you to “have a go”

img 585b0c147b6e4

Before you blow your inheritance, you should practice on a demo account.

That way you can get to grips with the platform and the fact you can lose money just as easy as you can make it.

img 585b0c5360571

You get £10,000 demo cash to start trading with.

Login an test it out

img 585b0c928336d

Fill in your stuff.

The platform looks really cool

img 585b0dd8335e9

There’s gonna be a hole bunch of things you don’t understand at first.

But that’s why you’ve opened a demo account.

Close all the windows and open up the product library.

The product library lists all of the instruments you can trade

img 585b0e3b8a470

Click on the back arrow if you’re already looking at some tickers.

img 585b0ebf8870c

Then choose something that you feel like you know, or have some sort of inclination on.

I’ll click commodities. So, metals, coffee, corn .etc

img 585b0ef1d9693

If you see the prices are white, you can trade them.

If they’re grayed, the market isn’t open at the moment.

The orange column is your sell price, the blue is your buy price.

Open Up Your Charts

img 585b0f5823968

From the product library, just click on the arrow next to the product, and click Chart.

img 585b0f7692b31

Once that’s done, you’ll be presented with a wonderful graph that you can look at and speculate over.

img 585b0fa77d961

You can look at the line a little closer by changing the time range.

img 585b0fd60e87a

Your prices are reflected on the right-side of the graph too. Your sell is always lower than you buy.

Open an Order

img 585b1019a16fa

From your graph, open an attached order ticket.

img 585b104b3ee3d

The order ticket will open on the right of your graph.

You’ve got two options, buy or sell. Sell to make money when the price goes down, buy to make money if it goes up.

img 585b10b3696c4

Click the box to see the price that you’ll be starting out at.

img 585b10d56f49a

As you can see, you’re not buying and selling at market price.

So make sure you’re pretty sure that your choice is going to move in the direction that you hope it is because you need to pay that spread fee.

img 585b114a85df7

Type in the amount you want to trade. And set a Stop Loss.

Take profit is up to you. If you’re not disciplined, set a take profit, and let the computer close you out.

img 585b1195ad7bb

The orange marker signifies your entry point. The box on the right is just an overview of what you just traded.

img 585b11b923226

You’ll notice that you make an immediate loss, again, this is the spread fee from the broker.

£1.20 to trade £1000 isn’t too bad however.

Track Your Positions

img 585b11e2a3cd6

Goto the “Safe” button in the toolbar at the top.

img 585b12078c779

Then you’ll be able to see your active positions.

img 585b1220b13cb

Your orders are collated together, so if you make 3 copper trades, they’ll be grouped together. Click the “+” button to expand your current positions.

img 585b1255c44c9

Click the “Gear” to modify your trade, for example to change your stop-loss or take-profit prices.

img 585b128863700

Close your trade with the big X, then click on the Close XXX Trade button.

If you want to close out a certain amount then just change the units figure to what you want to unload.

Gone Broke?

img 585b13085a473

Then add more demo funds.

Thank god that you made a demo account.

Moving To The Real Deal

This isn’t a decision you should jump into.

Learn as much as you can about trading. Learn your market. Read the news.

Additionally, watch educational videos and what successful traders are doing.

Day Trading Strategies for Beginners: Class 1 of 12

I hope this has given you a nice insight into CMC.

Until next time,

Josh

Leave a Reply