To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare CMC Markets vs Darwinex.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. CMC Markets is a better option with a 5 star rating over Darwinex's 4 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. CMC Markets alongside Darwinex are regulated in a major hub. CMC Markets is a publicly traded company, Darwinex isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. CMC Markets boasts an offering of 183 different currency pairs compared to Darwinex's 39 available pairs.
To round out our comparison of CMC Markets vs Darwinex, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Darwinex makes Meta Trader available to clients, while CMC Markets does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. Darwinex boasts an offering of 31 charting tools compared to CMC Markets's 24 available charting tools. Darwinex trails CMC Markets by 30 total different indicators (for example, moving averages), with CMC Markets offering 81 and Darwinex offering 51.
Overall, CMC Markets comes out on top with 4.5 stars over Darwinex's 3.5 stars. And, when it comes to individual category awards, unfortunately, neither CMC Markets nor Darwinex received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.