CMC Markets launches investment platform in Singapore

The move marks another milestone in CMC’s geographical expansion and comes shortly after the UK brokerage secured the regulatory stamp for its Singapore stockbroking related entity. CMC says the move comes as the firm continues to diversify and expand its geographic footprint through its technology, leveraged institutional offering, and non-leveraged platforms.

CMC Markets’ 16-year heritage in Singapore, where it has been offering CFDs since 2007, can serve as a strong foundation for the success of CMC Invest. With a holistic investment solution, CMC Invest can cater to the diverse needs of local customers, who are increasingly looking for more sophisticated investment products and services.

The Singapore-based iteration of CMC Invest offers a diverse product catalogue that covers stocks, ETFs, options, and futures. The company claims offering a transparent platform that does not impose hidden costs such as inactivity and settlement fees.

According to the statement, CMC Invest will provide clients with zero commission and real-time pricing across a comprehensive range of listed products along with research tools that includes Trading View Charting, ESG rankings, Opto content and Thematic Investing.

Existing clients of CMC Markets in Singapore will be able to access the new platform starting from next month, while the onboarding of new clients to kick off in the third quarter.

Head of CMC Invest Singapore, Christopher Forbes, said: “From politics to inflation, investors are currently experiencing a volatile period in the market. More than ever, they need a trusted partner that boasts a strong heritage in providing a reliable, transparent platform to help them navigate uncertain times. We are ultimately responsible stewards of our clients’ assets and our fiduciary responsibility is to provide them with an easily-navigable and robust platform, with the right tools and guidance. Investors can also enjoy a repository of research notes and investment insights, which will empower them to make more informed investment decisions.”

CMC Markets, whose shares are listed on the London Stock Exchange, revealed last week that February and March posed a more challenging environment with lower equity volumes and a higher proportion of lower margin institutional trading activity.

The spread betting and online trading company expects its FY 2023 net operating income to be between £280-290 million. It also warned on higher costs, prompting analysts to slash their earnings forecasts.