CMC invest transfer cashback

flopsy1973

Hi 
Had a email from the above offering 1000 pounds cashback for transfers of 100k into their app based plans . Must be held for 12 months and I can't see any charges for its basic plan. Not sure on range of etfs or tracker funds on there so what's the catch seems easy way to get a nice bonus. Anybody using these ?

wmb194

flopsy1973 said:

Hi 
Had a email from the above offering 1000 pounds cashback for transfers of 100k into their app based plans . Must be held for 12 months and I can't see any charges for its basic plan. Not sure on range of etfs or tracker funds on there so what's the catch seems easy way to get a nice bonus. Anybody using these ?

Particularly at the free tier, the catch will be that it doesn't offer what you want. Unlike other brokers you need the app to search what it offers. For me it's missing some of investment trusts I like but I have been using it a bit and it's essentially a clone of Freetrade with a couple of extra options e.g., you can hold USD and EUR balances.

CMC Markets has been around for decades and until recently it was a member of the FTSE250 so it's easy to research, LSE:CMCX. I don't follow it closely but IIRC it wants to enlarge its stockbroking business as a way to diversify away from making its money predominantly in CFDs.

Beddie

I use it for some share holdings, just FTSE-100 stuff. They have quite limited choice on the free tier, but there are shares, ETFs and investment trusts. The app works fine and the customer service is helpful when I've had a query. Buying and selling is very simple.
I saw the offer too, but I'm not sure if it's worth moving my main investment account to it. 1% cashback sounds nice, but portfolios often move more than that in a day.