CMC Markets

[13] In 2002, CMC Markets began its global expansion, opening offices in multiple countries and growing its spread betting operations in the UK alongside its international CFD business.

[17][18] From 2001 to 2005, CMC Markets also operated under the brand name deal4free.com to promote its zero-commission trading services, primarily targeting UK-based spread betting clients.

The acquisition was merged into its Australian operations under the new name CMC Markets StockBroking, which continued to provide physical share broking services in Australia.

This new software offered enhancements over the previous MarketMaker platform, including the ability to quote market prices to additional decimal points and execute trades without re-quotes.

[29][30] In July 2015, CMC Markets started to offer binary options, including a proprietary product branded as Countdown, designed for short-term trading.

[40] In April 2019, CFO and COO Grant Foley announced his departure amid continued struggles, as the company's shares hit a record low following further profit warnings.

[42] In 2023, the company integrated Skale's tools such as a customizable back office, CRM, a multi-layered IB portal, and a traders' area, into its trading platform.

In 2023, CMC Markets' annual report revealed a 43% drop in net profits, a 20% decline in operating revenue, and a 9% reduction in active traders.

[51] In November, the Australian Securities and Investments Commission (ASIC) ordered CMC, along with six other traders, to compensate retail clients for breaches of financial services laws, including offering CFDs with leverage exceeding regulatory limits.

[55][56] CMC Markets and several subdivisions offer trading on forex, indices, commodities, shares and treasuries, as well as cash equities products for institutional clients.

The Telegraph reported that the company's founder Peter Cruddas, who at that point served as a co-treasurer of the Conservative party, had offered private dinners with the prime minister David Cameron and the chancellor George Osborne.

Undercover reporters of The Sunday Times recorded Cruddas saying that for a donation of £250,000 he will arrange an invitation to dinners at Cameron's private apartment in Downing Street, and thus the donor will be able to lobby their interests discussing them with the prime minister.

[59][4] The fallout was severe for CMC Markets: approximately one-third of its staff departed, revenue plummeted by 21%, and pre-tax losses reached £2.8 million.

[28][60] Although Cruddas later won a libel case against The Sunday Times,[61] in 2015 an appeal court reduced the damages, ruling that the publication's core claims about "cash for access" were substantially supported by evidence.

[64] CMC Markets Asia Pacific Pty Ltd faced a class-action lawsuit brought by two former clients, alleging that the company promoted highly risky and unsuitable CFD trading between November 2011 and April 2021.

[68] In July 2022, CMC Spreadbet Plc initiated legal proceedings against businessman Robert Tchenguiz, seeking repayment of a £1.31 million debt related to spread betting.

Vargas further claimed that Matthew Lewis, head of CMC Asia Pacific, threatened him with physical harm when confronted about the bonus changes.