CMC Bits (cmcbits.com) has been flagged by ASIC (Australia) for "Unlicensed". Search IC001 for other entities related to this alert. Link to warnings from overseas regulators: OSC https://www.osc.ca/en/investors/warnings/cmcbits FCNB https://fcnb.ca/en/news-alerts/caution-cmcbits-trading This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: cmcbits.com.
The spread at CMC Bits (cmcbits.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after seeing their ad online and initially thought the platform was good - until I started trading seriously.
Pros: Easy withdrawals|Automated trading options|Reliable uptime|Demo account available
Cons: Limited ETF selection
The onboarding at CMC Bits (cmcbits.com) was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Dedicated account manager|Reliable uptime|Demo account available
Cons: Alert system is basic|Help articles are sometimes vague
The so-called education at CMC Bits (cmcbits.com) is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted since the beginning of the year thinking they would help me learn.
Pros: Stable platform|Copy trading available|Easy withdrawals
Cons: Slow to add new assets|Nothing significant
Where do I even begin with CMC Bits (cmcbits.com)? for the past six months of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Market news feed|Detailed reporting|Portfolio tracking tools|Low minimum deposit
Cons: Onboarding videos are outdated
CMC Bits (cmcbits.com) locked my account without warning and demanded documents I had already submitted. since last summer later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Excellent charting|Smooth onboarding
Cons: No integrated tax optimization|Desktop app not available on Linux
CMC Bits (cmcbits.com) has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Easy withdrawals|Detailed reporting|Multiple order types|Competitive fees
Cons: Currency conversion fee exists|Help articles are sometimes vague
CMC Bits (cmcbits.com) has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: High security standards|Fast deposits
Cons: Mobile app could be improved
KYC with CMC Bits (cmcbits.com) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Detailed reporting|Economic calendar
Cons: Limited social trading features
I requested my data from CMC Bits (cmcbits.com) under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Fast support response|Excellent charting
Cons: No integrated tax optimization|Email notifications too frequent
CMC Bits (cmcbits.com) offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Personal attention|Regular updates|Professional team|Dividend tracking
Cons: Would like more payment methods|Slow to add new assets