CMC Markets vs FP Markets 2023

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, CMC Markets offers better pricing overall for traders.

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. CMC Markets holds 5 global Tier-1 licenses, while FP Markets holds 1. FP Markets holds 2 global Tier-2 licenses, while CMC Markets holds 1. In our analysis of 23 international regulators across 50 brokers, CMC Markets earned a higher Trust Score than FP Markets.

To compare the trading platforms of both CMC Markets and FP Markets, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, CMC Markets offers a better experience. With research, CMC Markets offers superior market research. Finally, we found CMC Markets to provide better mobile trading apps.

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both CMC Markets and FP Markets offer MetaTrader 4 (MT4).CMC Markets and FP Markets both offer copy trading.

CMC Markets provides traders 158 currency pairs (e.g., EUR/USD) compared to FP Markets's 71 available pairs. Forex pairs aside, CMC Markets offers traders access to 12377 CFDs while FP Markets has 10000 available CFDs, a difference of 2377.

CMC Markets is publicly traded, does not operate a bank, and is authorised by five tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). CMC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA).

FP Markets is not publicly traded and does not operate a bank. FP Markets is authorised by one tier-1 regulator (high trust), two tier-2 regulator (average trust), and zero tier-3 regulators (low trust). FP Markets is authorised by the following tier-1 regulator: Australian Securities & Exchange Commission (ASIC).

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.

FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.