After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare CMC Markets vs Coinbase.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. CMC Markets received a rating of 5.00 stars over Coinbase's 2.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. CMC Markets is regulated in a major hub while Coinbase is not. CMC Markets is a publicly traded company, Coinbase isn't. As far as how many currency pairs are available for trading, here's the answer. Coinbase trails CMC Markets by 183 total currency pairs (for example, EUR/USD), with CMC Markets offering 183 and Coinbase offering .
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Neither offers Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Coinbase trails CMC Markets by 24 total charting tools, with CMC Markets offering 24 and Coinbase offering . Coinbase trails CMC Markets by 74 total different indicators (for example, moving averages), with CMC Markets offering 74 and Coinbase offering .
Overall, CMC Markets boasts 4.50 stars versus Coinbase's 3.50 stars. And, when it comes to individual category awards, CMC Markets posted awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading and Best in Class - Mobile Trading in 2018, while Coinbase found itself with none of these.