Written by ForexBrokers.com
In this head to head comparison of IG vs CMC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
Overall
Overall
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IG and CMC Markets are two well-regarded online brokers with a shared trust rating of 99 out of 99, as evaluated by ForexBrokers.com. Both companies are publicly traded, offering added transparency and accountability. Founded in 1974, IG also has the status of a bank, setting it apart from CMC Markets, which was established in 1989 and operates solely as a brokerage. Such banking status might appeal to those looking for a broker with banking level regulation and protection.
In terms of regulatory strength, IG holds an impressive eight Tier-1 licenses, demonstrating its reliability as a highly trusted broker. CMC Markets follows with five Tier-1 licenses, also ensuring a high level of confidence among users. Additionally, IG and CMC Markets have two and one Tier-2 licenses, respectively, which further attest to their trusted regulatory standings. This thorough regulatory coverage ensures that both brokers are securely positioned in the market, offering peace of mind to their clients.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Year Founded | 1974 | 1989 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 5 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
IG and CMC Markets are both leading online brokers, with each earning a five-star rating for their commissions and fees. However, there are distinct differences between the two. IG is notable for its active trader pricing available through Forex Direct accounts and its ability to execute large orders efficiently. Although it is not a discount broker, IG offers spreads that are close to the industry average. In July 2023, its main Forex Direct account had spreads averaging 0.62 pips, with an all-in cost of 0.82 pips after including a commission of 0.2 pips per trade. IG also offers rebates for high-volume traders, providing up to a 20% discount on spreads for qualifying traders who engage in rigorous trading volumes.
In contrast, CMC Markets has set itself apart with consistently low spreads across all customer segments and account types, earning it the #1 rank in the Commissions and Fees category. In August 2023, CMC Markets offered typical spreads of 0.61 pips on the EUR/USD, which is below the industry average. Furthermore, CMC’s active trader program, known as the Price Plus Scheme, allows investors to earn Trading Points based on market activities and monthly volumes, offering up to a 20% discount on spreads when a trader reaches Tier 4. Additionally, CMC's FX Active pricing structure ensures highly competitive spreads with commissions, resulting in an all-in cost as low as 0.5 pips for the EUR/USD pair.
When evaluating these brokers, it's crucial to consider the average spreads rather than just minimum spreads, as this reflects the true trading costs. While both brokers provide excellent trading conditions, CMC Markets holds the top spot in the ranking due to its pricing consistency and innovative cost-reduction programs. IG, ranked #8, remains a robust choice for those specifically benefiting from its active trader programs and excellent order execution capabilities.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 0.61 |
| All-in Cost EUR/USD - Active | 0.82 | 0.51 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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When considering online brokers IG and CMC Markets, both offer a wide array of investment options, yet differ in some areas. IG boasts an impressive offering of over 19,000 tradeable symbols, exceeding CMC Markets' selection of around 11,900. However, CMC Markets leads with its larger choice of 156 forex pairs compared to IG's 97. Both brokers allow trading on forex as either CFD or spot contracts, and they provide access to exchange-traded securities not only on U.S. exchanges but also on international platforms, making it easy for investors to buy shares in companies like Apple and Vodafone. While IG allows clients to buy actual cryptocurrencies, CMC Markets provides access only through derivatives.
For those interested in niche features, IG does not offer copy trading, whereas CMC Markets does. Each platform is rated five stars for its range of investments, ranking IG at #4 and CMC Markets at #9 according to ForexBrokers.com. This indicates that both provide excellent choices for traders, yet IG might be slightly more suitable for those seeking a broader overall selection or ready access to real cryptocurrencies, while CMC Markets could appeal to forex enthusiasts and individuals interested in leveraging other traders' strategies via copy trading.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 11925 |
| Forex Pairs (Total) | 97 | 156 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, both IG and CMC Markets have excelled in their offerings, securing top ratings from users. IG and CMC Markets provide their users with a proprietary platform developed in-house, as well as support for popular trading systems like MetaTrader 4. However, while CMC Markets extends its platform choices to MetaTrader 5, IG does not. Both brokers offer web-based trading platforms and downloadable options for Windows, ensuring flexibility and accessibility. Additionally, both brokers accommodate new traders with free virtual demo accounts for simulated trading. When it comes to interactive features, CMC Markets shines with a notable edge, offering 40 drawing tools compared to IG's 20.
For those keen on customizing their trading experience, CMC Markets provides a broader range of options with 11 columns available for watchlists, surpassing IG's five. Moreover, CMC Markets supports copy trading, a feature absent from IG's offerings. Despite these differences, both brokers have earned a five-star rating for their trading platforms and tools. Ranking-wise, IG holds the #2 spot among 63 brokers evaluated by ForexBrokers.com, while CMC Markets follows closely at #4. Each broker allows traders to execute trades directly from stock charts, underscoring their commitment to empowering users with functional and efficient trading solutions.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 79 |
| Charting - Drawing Tools (Total) | 20 | 40 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, IG and CMC Markets stand out as top choices. Both brokers provide seamless trading experiences for iPhone and Android users, ensuring accessibility across devices. Whether you're keen on receiving stock or forex price alerts or syncing your watchlist with your online account, IG and CMC Markets have you covered. They both allow drawing trendlines on charts and offer various time frames, which are essential for in-depth analysis. Additionally, their apps auto-save chart drawings, enabling traders to pick up right where they left off.
IG edges out slightly in terms of technical studies, offering 33 compared to CMC Markets' 29. Both brokers provide real-time quotes within custom watchlists, which is invaluable for active traders. Customer satisfaction speaks volumes, as IG and CMC Markets each boast a rating of five out of five stars for their mobile trading apps. However, where IG truly shines is in its ranking by ForexBrokers.com, coming in at the top spot out of 63 brokers, whereas CMC Markets is still impressive but ranked fifth. For those looking for a leading mobile platform, IG may just have the edge.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 29 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both IG and CMC Markets provide daily market commentary and offer forex news from prestigious sources like Bloomberg, Reuters, and Dow Jones. They also integrate research tools from Autochartist, ensuring users have access to technical and fundamental analysis resources. However, neither platform offers analytical tools from Trading Central. Both brokers excel in delivering sentiment-based trading tools, making it easier for traders to gauge market sentiment across various currency pairs. Additionally, IG and CMC Markets equip traders with comprehensive economic calendars to track global news events.
In terms of standout features, IG boasts market research with TipRanks and utilizes research tools from Acuity Trading, giving them an edge in broader analytical support. CMC Markets, on the other hand, does not offer these specific tools. Despite these differences, both IG and CMC Markets earn the same top-tier rating of 5 stars for research. However, IG holds a superior ranking, coming in at #2 among 63 brokers on ForexBrokers.com, while CMC Markets follows at #6, emphasizing their both top-tier yet slightly differentiated research capabilities.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to providing educational resources for beginner traders, both IG and CMC Markets offer a wide array of learning materials, including over 10 articles, videos, and webinars focused on forex and CFDs. Both brokers also have more than 10 beginner-friendly videos, offering insights into trading basics, alongside a rich archive of previously recorded webinars that aspiring traders can easily search through. However, IG takes a further step by hosting live monthly webinars for clients, a service not provided by CMC Markets, allowing beginners to have a more interactive learning experience.
IG stands out not only for its monthly webinars but also with its position as the number one ranked broker for education by ForexBrokers.com out of 63 competitors. While CMC Markets boasts a strong educational offering, with features similar to IG, like an investor dictionary with comprehensive definitions, it holds the tenth spot in the same ranking. This distinction in rank reflects IG’s superior commitment to fostering a thorough and engaging learning environment for beginners. Both platforms are rated five stars for their educational offerings, demonstrating their effectiveness and usefulness in supporting new traders on their investment journeys.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than CMC Markets. IG finished with an overall rank of #1, while CMC Markets finished with an overall rank of #4.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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IG offers both actual cryptocurrency purchases and cryptocurrency derivatives, while CMC Markets provides only cryptocurrency derivatives without the option for actual cryptocurrency purchases.
Both IG and CMC Markets provide multiple options for depositing and withdrawing account funds, including ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, but neither broker supports Skrill.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IG | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | CMC Markets Review |
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| Regulation | IG | CMC Markets | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1989 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 5 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | CMC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | CMC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | CMC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 11925 | |
| Forex Pairs (Total) | 97 | 156 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IG | CMC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.61 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.51 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | CMC Markets | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | CMC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | CMC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 11 | |
| Charting - Indicators / Studies (Total) | 33 | 79 | |
| Charting - Drawing Tools (Total) | 20 | 40 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | CMC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 29 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | CMC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | CMC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | CMC Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IG Review | CMC Markets Review |
| Overall | IG | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | CMC Markets Review |
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