London, UK: CMC Markets, one of the world's leading spread betting and CFD trading platforms, has announced that its Alpha customers have together saved more than £1m on spreads over the past two years1.

Alpha, CMC's benefit-packed premium membership for traders who fund or grow their live account to a value of £25,000 or more, allows clients to: £Save up to 40% on spreads2 £Earn interest on their trading account3 £Get a free premium digital subscription to the Financial Times4 CMC developed Alpha in consultation with several of its most experienced traders, who said they wanted spread discounts, interest payments and insightful market news and analysis.

As a package of benefits, Alpha delivers on all fronts - not least the £1m that Alpha customers have saved on spreads since the scheme launched in January 20221.

Luke Welch, CMC Markets' Head of Marketing, Product and Analytics, commented: "Alpha is a key part of our mission to help clients unlock their potential. By offering a unique set of premium features, including volumebased spread discounts and a free FT subscription, we're empowering our clients to pursue their trading strategies and achieve their trading goals."

ALPHA: KEY BENEFITS

SAVE ON SPREADS Alpha promotes traders to tier 3 of Price+, CMC's tiered-volume spread discount scheme, giving them immediate spread discounts of up to 20%2. Traders earn points for every trade they place in their live account and move up to higher spread discount tiers as they accumulate more points. In tier 5, the highest tier, traders can receive spread discounts of up to 40%2.

While Price+ is open to all CMC customers, most non-Alpha clients are in either tier 1 - which does not confer any spread discounts - or tier 2 which offers spread discounts of up to 9.1%2. "A key benefit of Alpha is that it lifts you straight up to Price+ tier 3, giving you spread discounts of up to 20%2," explained Welch. "Then, as you earn more trading points, you can move up to higher tiers and save even more money on spreads," he added.

EARN INTEREST Another benefit of Alpha membership is that it pays interest on the available equity in your trading account3. Currently, the scheme pays interest of 2% on amounts held in British pounds, and 3% on balances in US dollars.

CMC calculates interest daily and pays it into traders' accounts at the start of the following month. Traders with more than one account earn interest on each account and receive separate interest payments into each account. More information, including the relevant terms and conditions, are available on the company's dedicated Alpha website: cmcmarkets.com/alpha

GET THE FT FOR FREE Alpha members also receive a premium digital subscription to the Financial Times4 - worth £59 a month - completely free of charge. That means Alpha traders can use their phone or tablet to access the FT's unrivalled news, analysis and data on the go.

(c) 2024 City A.M., source Newspaper