CMC Markets, a FTSE 250 company, has launched Spectre, a new trading account designed for professional clients. The account allows users to trade shares, cryptocurrencies, commodities, bonds, ETFs, funds, and FX within a single account.

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The launch of Spectre follows the firm’s recent initiatives in digital trading. Earlier, CMC Markets conducted a pilot for tokenised share trading in the UK. The test used distributed‑ledger technology through its corporate broking arm, CMC CapX, with blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term firm StrikeX. Investors were able to execute trades using tokenised securities.

CMC Markets Launches Spectre Tax-Free Account

“By removing leverage, through a Spectre account, we are eliminating daily financing costs, and margin calls, alongside tax-free trading,” Lord Peter Cruddas, founder and CEO of CMC Markets, said.

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Spectre is a spread bet account with zero leverage. Clients trade using their own capital, meaning no daily financing charges and no margin calls. The account also offers tax advantages, with trading exempt from capital gains tax, stamp duty, and daily financing charges.

“We still offer leveraged products, but not all clients want leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term because the associated costs can affect their long-term performance. Spectre is a tax efficient alternative to leveraged trading and will appeal to long-term traders who want to maximise their performance through tax efficiencies and eliminate the associated costs of leveraged trading,” Cruddas added.

CMC Markets Expands Australian Reach Through Westpac Partnership

Meanwhile, CMC Markets has extended its technology partnership with Westpac Banking Corporation to provide white-label trading platforms for Westpac Share Trading and St.George Directshares.

The integration, expected to take about 12 months, will give CMC access to Westpac’s 13 million customers and could increase its Australian client base by roughly 40%, with domestic trading volumes potentially rising 45%.

Customers will use CMC’s technology through branded web and mobile platforms integrated with Westpac’s existing infrastructure. Cruddas said the partnership validates CMC’s technology and presents growth opportunities. The deal requires no regulatory approvals.