CMC Markets Integrates TrueLayer Payments In UK & Europe

Contributor Image
Written By
Contributor Image
Written By
William Berg
Securities Law Expert
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
Contributor Image
Edited By
Contributor Image
Edited By
James Barra
Head of Content
James is Head of Content and a brokerage expert with a background in financial services. A former management consultant, he's worked on major operational transformation programmes at top European banks. A trusted industry name, James's work at DayTrading.com has been cited in publications like Business Insider.
Contributor Image
Fact Checked By
Contributor Image
Fact Checked By
Tobias Robinson
CEO and Head of Broker Testing Panel
Tobias is the CEO of DayTrading.com, an active investor, and a brokerage expert. He has over 30 years of experience in financial services, including supervising the reviews of more than 500 trading brokers, and contributing via CySEC to the regulatory response to digital options and CFD trading in Europe. Tobias' expertise make him a trusted voice in the industry, where he's been quoted in various financial organizations and outlets, including the Nasdaq.
Updated

CMC Markets has teamed up with TrueLayer, a leading provider of open banking. The move will give traders a faster payment experience than traditional deposit solutions like debit cards and wire transfers.

Key Takeaways

  • CMC Markets is operating TrueLayer’s closed-loop transfer solution
  • The open banking technology is available to clients in the UK and Europe
  • User details are automatically populated to speed up the payment process
  • Integrated Strong Customer Authentication (SCA) helps reduce the risk of fraud

Fast & Frictionless Payments

Traders are increasingly looking for a fast and hassle-free transfer experience.

Instant deposits help ensure users don’t miss out on trading opportunities while a secure payments system adds credibility to a broker.

Open banking technology essentially facilitates frictionless payments between accounts, with details prefilled and reliable security protocols protecting transfers.

Importantly, it offers faster and smoother processing than debit and credit cards, plus bank wire transfers.

“Near Real-Time Payments”

Head of Payments at CMC Markets, Colleen Hohm, commented on the news: “Our clients value an interactive payment method and one which can deliver near real-time payments”.

Hohm went on to say: “Open Banking delivers this for CMC in the UK market and in Europe where clients can use Instant SEPA. We’re excited to work with TrueLayer and look forward to working with them as they expand geographically”.

About CMC Markets

CMC Markets is an award-winning broker with 300,000+ clients and oversight from tier-one regulators, including the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

The brokerage offers access to 12,000+ instruments, including 10,000+ stocks and 330+ forex pairs. Traders can also speculate on precious metals and energies, plus indices with out-of-hours trading.

As well as the broker’s open banking solution, new clients can fund their account with bank cards, manual wire transfers plus the popular electronic wallet PayPal.

The minimum deposit is low at $0 and no charges are imposed by CMC Markets.

Your capital is at risk. Trade only with funds you can afford to lose.
Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.