CMC Markets Integrates TrueLayer Payments In UK & Europe
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.
