Shares in CMC Markets (LSE: CMCX) hit a record high today (Wednesday), climbing about 23% to around 570 pence after the London listed broker raised its annual profit forecast.

The move carried the stock past its previous peak of 559 pence, set in April 2021 during the pandemic era trading surge.

CMC now expects net operating income of at least £550 million for the year ending March 2027, up from the £460 million to £480 million range it gave last month alongside a 20% rise in annual pre-tax profit.

The figure also sits well above the £385.5 million analysts had forecast, according to a company-compiled consensus.

A Record That Tops the Covid-Era Peak

The last time CMC traded this high, retail investors were piling into markets through the 2020 and 2021 lockdown boom that lifted brokers across the board. The stock spent the years afterward well below that mark before this year's run.

Momentum was already building before Wednesday. CMC shares had surged more than 40% over three sessions after an earlier income beat, outpacing CFD rivals, and Wednesday's jump pushed that rally into record territory.

B2B Growth Behind the Upgrade

CMC tied the raise to its business-to-business unit, the arm that supplies trading technology and liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term to banks, brokers and other financial firms. The company described the driver as "exponential and exceptional growth" in that business, its own wording.

That side offers larger client pools and higher margins than CMC's traditional retail CFD operation. The broker has been building it through white-label and API deals, including a CFD partnership with neobank Revolut that has since spread across dozens of countries.

• 23% of CMC Invest Clients Use AI for Investing, So the Broker Launched a Native Engine
• CMC Markets’ FY26 Pre-Tax Profits Climb 20%, Income Was a “Record Outside Covid-Impacted Year”
• “Neobanks Want Trading; We’re the Partner that Delivers It”: CMC Markets’ UK Head

The upgrade came with a core profit, or EBITDA, forecast of £250 million, while cost guidance excluding variable pay held at around £280 million. With much of its cost base fixed, extra income converts to profit at a high rate, a dynamic CMC calls operating gearing.

Broker Shares Ride a Sector-Wide Rally

CMC is not the only broker whose stock has run hard this year. IG Group hit its own record high in May, rising almost 11% in a single session after it lifted revenue guidance and reported first-quarter organic growth of 19%.

Plus500 raised its 2026 outlook in April after Q1 revenue rose 18% to $242 million, while Warsaw listed XTB posted an 88.5% jump in first-quarter revenue. Volatile markets through 2026 have pushed trading activity higher across the industry.

Everton Deal Adds a Brand Push

Separately today, CMC Markets said it had become the main club partner and front-of-shirt sponsor of Everton Football Club, covering the men's, women's and under-21 teams in a multi-year deal.

The company framed it as a way to raise awareness of its investing, trading and wealth businesses beyond its core trading base.

Founder and Chief Executive Peter Cruddas said the company was "proud to partner with a club that shares our core values, identity and passion." The two sides also plan financial literacy programs across the Liverpool City Region.

CMC Markets, founded in 1989 and listed in London under the ticker CMCX, serves retail and institutional clients across 12 countries.

Its next scheduled update is its half-year results on November 19, 2026.