CMC Invest adds a new offering allowing investors to access flexible ISAs
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CMC Invest has launched a new account known as Plus Plan. This account will allow investors to create flexible shares and stocks Individual Savings Accounts (ISAs). CMC Invest will allow investors to access a currency wallet supporting US dollars.
CMC Invest adds a new offering
CMC Invest is a newly launched stock trading platform for CMC Market. On Monday, the company said that a limited number of providers could access flexible ISAs. These accounts will be supported so clients can withdraw money from their accounts before depositing them again within the same tax year. Investors will do this so that it will not affect their ISA allowances.
The new offering by CMC Invest targets individual investors who want to make a maximum investment of up to £20,000 each year while protecting their profits from capital gains tax.
The new offering by CMC Markets seems interesting when focusing on the dividend allowance paid to these investors alongside the annual exemption on the capital gains tax.
The Head of CMC Invest UK, Albert Soleiman, said that the company had launched this new offering to enable its customers to be empowered to make choices that are suitable for their investment journey. Therefore, the company was excited to launch these new features that would expand the scope of choices that its customers could make.
“A flexible stocks & shares ISA isn’t typically offered on other investment platforms – we are fortunate with our technology to be able to offer this to clients giving them more flexibility to invest how and when they want,” Soleiman added.
This new offering will also attract a flat custody fee of £10 every month for the willing investors. However, this will be a one-off fee, as no additional commissions will be charged on the new offering.
CMC Invest will also provide a USD currency wallet that will be accessed alongside the company’s main GBP wallet. The company is using this model to ensure that there will be no commissions charged on the FX conversions.
CMC Markets reports 27% growth in net trading revenues
The launch of this new offering comes a short while after the company released its financial results. The company reported its interim financials for the six months, starting from April to September. During this period, the company saw a 27% increase in net trading revenues, which were reported to be £128.4 million.
On the other hand, the company’s net revenues derived from the investing division dropped by 14% to £20.8 million. During the period, the company reported a 21% annual increase in the total net operating income, which increased to £153.5 million. The financial results were in line with the company’s expectations.
CMC Markets is a publicly-traded company listed on the London Stock Exchange. The company’s shares have been declining this year, and they have shed 7% of their value in the past year.