CMC Invest Strengthens UK Services With Personal Pension Solutions
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CMC Invest, the Stock Trading branch of CMC Markets, is expanding its offerings in the UK by launching a Self-Invested Personal Pension (SIPP) program. Announced earlier this month, this new service is introduced as a fixed-price product in partnership with Quai Investment Services, solely available via its Premium plan.
CMC Invests Wants To Revolutionize The Online Brokerage Market
A SIPP offers individuals in the UK a self-controlled pension fund that ensures a retirement income, delivering significant tax benefits.
The integration of SIPPs into the Premium plan is tailored to attract Extended-tenure investors with its enticing features such as access to multi-currency wallets, Adaptability in pension withdrawals, a 0.5 percent FX fee, and a no-cost commission on all trades. Additionally, investors can move current pensions to the SIPP.
CMC Invest is ready to transform the online brokerage market by offering clients the finest value-for-money platform.
To draw in new customers, the firm has removed the regular £25 fee for the premium plan, making it free for the initial 12 months.
The Head of CMC Invest, David Dyke, stated that navigating the intricate network of investment and pension fees can be challenging, and it’s easy for clients to feel overburdened. He added that this is the main reason why the platform is rolling out a fixed-rate pricing model.
CMC Invest seeks to Empower Investors with Transparent Pricing
CMC Invest said it carried out a study of 2,000 investors recently. Each had more than £10,000 to invest. The study found that one-third of investors with pensions didn’t know about the fees they had to pay. For women, it was even higher, at 44 percent.
Mr. Dyke explained that with the flat rate, no matter how much a trader has to invest or how often trade is taken, traders just need to pay the same fixed monthly fee. This makes it easier for traders to plan their money because they don’t have to do hard math to figure out how much they’ll pay for your pension.
CMC Invest was first introduced in the United Kingdom in October 2022 and extended its reach to Singapore in September last year and is also available to investors in Australia. Operating separately from CMC’s existing contracts for differences (CFDs) trading platform, CMC Invest seeks to provide a unique experience centered on direct investments.
Recently, the company signed a Team Singapore track and field sprinter, Shanti Pereira, as its brand ambassador. The partnership will encourage financial literacy and early investing, particularly among young female investors.
