CMC Markets reported that an agent with 146 backtests reported an in-sample Sharpe of 2.1, with 88% of that Sharpe reproduced by blind selection using the number of backtests and winners.

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A Sharpe of 2.1 From Nothing I gave a research agent four years of market data with no predictable structure in it. None. Zero, by construction — the returns were unfore…

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Company

CMC Markets

Industry
Financial Services
Location
London, GB
Company size
1,001–5,000 employees

About CMC Markets

Founded in 1989 to make financial markets truly accessible, CMC Markets has evolved into a global leader in online trading, while staying true to its original ethos. With over 36 years’ experience and offices in London, Sydney, Singapore, Toronto, Dubai and across Europe, the company has grown into a trusted name in financial services. CMC operates a broad portfolio of brands – CMC Markets, CMC Invest, CMC Connect, CMC CapX and OPTO – and holds a 51% stake in blockchain technology firm StrikeX. Today, more than 2 million* traders and investors worldwide trust CMC Markets. The company also partners with major organisations including Revolut, ANZ Bank and St George, further strengthening its position as a leading innovator in financial technology. CMC Markets plc is a FTSE 250 listed company and holds long-term issuer default ratings (IDRs) of ‘BBB-’ with a stable outlook. *Based on over 2 million unique user logins across CMC's trading and investing platforms, including partners, as at November 2025.

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