CMC Invest, the physical share trading platform of CMC Markets (LON: CMCX), has extended its partnership with Israel’s TipRanks and is rolling out access to its tools for clients in the United Kingdom in phases.

Extension of an Existing Partnership

The partnership extension follows CMC Invest’s initial integration of TipRanks last December, first offering it to customers in Australia and later in Singapore.

The company told FinanceMagnates.com that over 1 million CMC customers had used its platform through the broker. Among these users, interest was mostly focused on US markets.

TipRanks, founded in 2012, provides a stock research platform offering alternative data to retail traders. It uses natural language processing to analyse the performance of professional analysts. Prytek acquired the Israeli company in 2023 for about $200 million.

“We designed TipRanks to give investors the tools to make informed decisions with their investments, and CMC’s decision to expand our partnership is a good sign that we are achieving our goal,” said TipRanks’ CEO and Co-Founder Uri Gruenbaum.

Diversifying from CFDs

CMC Markets, known for its contracts for difference (CFDs) offering, launched the CMC Invest brand in 2022. It offers investment services with physical shares listed in the United States and the United Kingdom, exchange-traded funds (ETFs), and investment trusts. The platform launched in the UK before expanding to Australia and Singapore.

Related: David Fineberg Took Over as CMC Invest UK CEO after Soleiman Stepped Down

CMC Invest’s UK customers will first access TipRanks’ Analyst Forecasts and Bulls Say, Bears Say tools. The Analyst Forecast tool provides forecasts from Wall Street analysts for individual stocks, while Bulls Say, Bears Say summarises reports highlighting both the positive and negative points.

The platform will also include TipRanks’ News section after the initial rollout.

“This collaboration shows our commitment to putting reliable investing information into the hands of every client,” said Luke Welch, Managing Director – Wealth at CMC Markets.

This article was written by Arnab Shome at www.financemagnates.com.Retail FXRead More

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