Share Magazine Declares CMC Markets the Financial Provider of the Year and Best Spread Betting Service for 2011
Share Magazine recently announced leading CFD trading, foreign exchange and spread betting service provider CMC Markets the Financial Provider of the Year and Best Spread Betting Service for 2011. The decision was based on the votes given by the readers of Share Magazine.
According to the editor of Share Magazine Russ Mould, it is very difficult to win an award at the event. This was particularly true with regards to the ‘Financial Provider of the Year and Best Spread Betting Service’ title because it was based on the total number of votes gathered by a company across a number of different award categories. He further added that Share Magazine reader base is highly demanding, market facing and well informed, which makes CMC Markets’ consistent wins an even bigger achievement.
Last year the financial service provider was declared the Best Spread Betting Service and Best Investor Education. CMC Markets was established in 1989 by Peter Cruddas. Presently the organization boasts of over 75,000 clients across the globe. Last year as many as 26 million trades were conducted by CMC Markets clients. The Financial Services Authority of UK authorizes and regulates CMC Spreadbet Plc and CMC Markets UK Plc, which collectively form CMC Markets.
The awards ceremony was organized at Grosvenor House on the 10th of November. While accepting the award, the CEO of CMC Markets Doug Richards said that since its establishment, the company has been working towards becoming the leading online financial services provider in the world. The award is a reflection of the company’s success in offering quick response to customer needs and using innovative technology to offer a great trading experience.
Benefits of CFD Trading Over Physical Share Trading
Share CFDs do not involve any added costs like share registration fees, data feeds (apart from Australian Share CFDs) and floor fees. Moreover, stamp duty is not applicable on CFDs. This means that commission is your only execution cost besides physical bid and offer spread. Presently in the UK stamp duty is 0.5%. This means that for trading ₤10,000 position size physical shares, the stamp duty will be ₤50. For such trades you also need to bear additional charges like registration fees and commission.