CMC Invest

Who they are

CMC Invest's roots go back to 1989, when Peter Cruddas started the business as Currency Management Corporation before it was abbreviated to CMC and later renamed CMC Markets in 2005. CMC Markets has over 30 years of experience in financial services and operates across more than 16 countries. CMC Invest itself is the company's UK investment platform, launched in 2022.

CMC Invest is a trading name of CMC Markets Investments Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA, firm reference 948126). The parent, CMC Markets Plc, is listed on the London Stock Exchange , which gives it a level of transparency and accountability that newer app-based platforms don't always have.

While CMC Markets built its name in CFD and spread-betting trading, CMC Invest is a deliberately separate proposition aimed at long-term savers and investors. It offers accounts including a Self-Invested Personal Pension (SIPP), with the ability to consolidate pensions and take advantage of the tax-free annual allowance of up to £60,000 depending on your taxable income. The platform is app-only - the CMC Invest app is clean and easy to use, with solid ESG tools, but there is no website or desktop trading platform.

Savings accounts

Right now, the only savings product we have rate data for at CMC Invest is their Junior Cash ISA. It pays a variable rate of 3.56% AER on balances from just £1, with interest paid monthly. The account is locked until the child turns 18, as is standard with all Junior ISAs.

CMC Markets launched the Junior Cash ISA as part of a push beyond trading into long-term savings products for UK families. It allows parents and guardians to start building a financial nest egg for their children from as little as £1.

On the question of protection, it is worth understanding how your money is held. Your money may be held with one or more financial institutions - currently, CMC Invest holds it with JPMorgan. For its Junior ISA, CMC Invest currently holds client money with JPMorgan, which shares protection with Chase. This is a fully regulated bank and covered by the FSCS. The cash CMC Invest holds on your behalf is protected thanks to industry rules on client money. However, the FSCS only covers up to £120,000 per person, per financial institution - meaning if you have money in other accounts with JPMorgan, including Chase, the total protection across all of them is capped at £120,000. That is worth bearing in mind if you already bank with Chase.

Is it right for you?

If you want a Junior Cash ISA from a provider with a long track record and a regulated, listed parent company, CMC Invest is worth a look. The minimum is just £1, the interest is paid monthly, and the tax-free wrapper means your child pays no tax on the growth.

The rate is variable, meaning returns could change over time, so it pays to keep an eye on what is available elsewhere. And if your child has many years before they turn 18, it is also worth considering whether a stocks and shares Junior ISA might serve them better over the long run - though that comes with investment risk rather than a guaranteed rate.

There are currently no current account switch offers or other savings products listed for CMC Invest on DepositScout. The live rate shown on this page is always the most up-to-date figure, so use that as your reference point when comparing.