CMC GIA £50 bonus until 30 April 2023

Band7

Many thanks to flaneur_lobster for mentioning the CMC signup bonus in another thread. Deposit £50, get £50 within 6 business days.

Usual health warning - your capital is at risk when investing. CMC don't charge commission on the GIA and have a decent looking list of funds to invest in, and also shares for those who fancy higher risk. I will probably put my £100 on an HSBC global fund myself although they don't stipulate that you must invest the bonus, or your deposit. Note the withdrawal restrictions in the  Bonus T&Cs, however.





 

dunstonh

The only caveat to these things is to remember that start ups running at a loss will either fail, be bought out or increase their charges at some point.  Buying market share takes money.  Some have big sugar daddies who will absorb the losses if they think market share growth is good.  Some do not.

wmb194

dunstonh said:

The only caveat to these things is to remember that start ups running at a loss will either fail, be bought out or increase their charges at some point.  Buying market share takes money.  Some have big sugar daddies who will absorb the losses if they think market share growth is good.  Some do not.

CMC Markets isn't a startup, it's an established business. It's listed in London under CMCX, in the FTSE250 with a £650m market cap and in its most recent interims says its profit before tax was £36m. I'm relaxed about this one.

https://www.investegate.co.uk/cmc-markets-plc--cmcx-/rns/interim-results/202211160700055300G/

masonic

Seems they have a lot of USD (and EUR) currency ETFs available without the GBP version, which I suppose they would given the margin on forex. I take it I am not being dumb and the only funds they offer are exchange traded ones? I might have to settle for good old VUKE.

wmb194

masonic said:

Seems they have a lot of USD (and EUR) currency ETFs available without the GBP version, which I suppose they would given the margin on forex. I take it I am not being dumb and the only funds they offer are exchange traded ones? I might have to settle for good old VUKE.

Yes, just ETFs and Investment Trusts. Apparently "mutual funds" are to come later but even then only for the £10pm 'plus' subscribers.

https://www.cmcinvest.com/en-gb/shares/uk-shares

masonic

Thanks, another point to highlight in the above is that they are offering flexibility in their S&S ISA, which is quite rare and may appeal to some... but again only available in their £10 per month plan.

Costabit

Do they allow Fractional investing i.e.can you put as little as £1 in any ETF?
Or are you required to buy complete whole units ?

masonic

Costabit said:

Do they allow Fractional investing i.e.can you put as little as £1 in any ETF?
Or are you required to buy complete whole units ?

Oddly, they don't promote this, but I assume they must given their main competitors do. I'll find out tomorrow...

Band7

Costabit said:

Do they allow Fractional investing i.e.can you put as little as £1 in any ETF?
Or are you required to buy complete whole units ?

I have read elsewhere that they don't offer fractional. Not on the free GIA, anyway.

masonic

Band7 said:

Costabit said:

Do they allow Fractional investing i.e.can you put as little as £1 in any ETF?
Or are you required to buy complete whole units ?

I have read elsewhere that they don't offer fractional. Not on the free GIA, anyway.

That might have implications on the investment choice. Quite a few ETFs have a share price above £50, and some above £100.

quirkydeptless

So I can add £50, make no investments, wait till my bonus arrives ~6 working days later, not invest that either, withdraw my original £50 and then withdraw my £50 bonus 90 days after that?