Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs FXCM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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.
Founded in 1989, CMC Markets is a well-established online broker with a ForexBrokers.com Trust Score of 99, making it highly trusted. It is publicly traded but not a bank. CMC Markets holds six Tier-1 licenses, which contributes to its strong credibility in the trading industry, and it also has one Tier-2 license.
FXCM, established in 1999, also enjoys a strong standing with a Trust Score of 95, indicating it is highly trusted. Like CMC Markets, FXCM is publicly traded and not a bank. FXCM holds four Tier-1 licenses and two Tier-2 licenses. Both brokers are reliable options; however, CMC Markets’ higher number of top-tier licenses may appeal to traders looking for an extra layer of assurance.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Year Founded | 1989 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 6 | 4 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
When it comes to commissions and fees, CMC Markets has the edge over FXCM. CMC Markets earns a 5-star rating and ranks #4 out of 36 brokers for Commissions and Fees, while FXCM holds a 4.5-star rating and ranks #17 out of 36. CMC Markets stands out for its low spreads across account types, with typical EUR/USD spreads around 0.61 pips based on its August 2023 pricing data. It also offers the Price Plus Scheme for active traders, plus FX Active commission-based pricing, which can bring all-in EUR/USD trading costs down to 0.5 pips.
FXCM’s pricing is still fairly competitive, but it is generally a bit higher than the industry average. In May 2024, its average EUR/USD spread was 0.78 pips for its EU, U.K., and Australia entities, while its St. Vincent and the Grenadines entity averaged 1.38 pips. FXCM also offers commission-based accounts, where the underlying spread can be low, but commissions add to the final trading cost. For active traders, FXCM’s rebate program can reduce costs, though the best discounts depend on account location and monthly trading volume.
Overall, CMC Markets is the better pick for traders focused on keeping commissions and fees as low as possible, especially if they trade forex often. FXCM can still work well for some active traders, but its pricing is usually less favorable unless you qualify for rebates or lower commission tiers.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Minimum Deposit | $0 | Starts from $50 |
| Average spread (EUR/USD) - Standard account | 1.3 | 0.9 |
| All-in Cost EUR/USD - Active | 0.65 | 0.8 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets offers a much wider range of investments than FXCM, making it the stronger choice for traders who want more variety. CMC Markets provides 12,029 tradable symbols and 141 forex pairs, compared with FXCM’s 440 symbols and 46 forex pairs. Both brokers support forex trading, copy trading, and cryptocurrency CFDs, but neither lets clients buy actual, delivered cryptocurrency.
The biggest difference is that CMC Markets also offers exchange-traded securities on both U.S. and international exchanges, so clients can buy real shares such as Apple or Vodafone, while FXCM does not provide this option. For range of investments, CMC Markets is rated 5 stars and ranked #9 out of 36 brokers by ForexBrokers.com, while FXCM holds a 4.5-star rating and a #21 ranking.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 440 |
| Forex Pairs (Total) | 141 | 46 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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.
CMC Markets and FXCM both give traders a wide choice of platform options, including free demo accounts, their own in-house platforms, web-based trading, Windows desktop downloads, copy trading, and MetaTrader 4. Both also let users trade directly from charts, which is helpful for quick order entry and active market monitoring. In short, each broker covers the main trading platform needs well, making either one a solid choice for traders who want flexibility across devices.
The main difference is that CMC Markets also offers MetaTrader 5, while FXCM does not. That may matter for traders who want access to MT5’s newer features and tools. Both brokers earn a 5-star rating for Trading Platforms and Tools, but FXCM ranks slightly higher with ForexBrokers.com at #4 out of 36, compared with CMC Markets at #6 out of 36.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 73 | 115 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and FXCM both offer mobile trading apps for iPhone and Android, along with price alerts and watchlist syncing between the app and online account. Each app also lets traders draw trendlines on charts and automatically saves those drawings, making it easier to track market ideas on the go. For everyday mobile trading features, both brokers cover the basics well and are easy to use for both stock and forex trading.
Where they differ most is charting depth and overall app rating. FXCM offers 59 technical studies in its mobile app, compared with 29 at CMC Markets, which may appeal to traders who want more chart tools on their phone. Still, CMC Markets earns a higher mobile trading apps score at 5 stars and ranks #5 out of 36 brokers on ForexBrokers.com, while FXCM is rated 4.5 stars and ranks #16. For traders looking for the stronger overall mobile app experience, CMC Markets has the edge, while FXCM stands out for having more technical indicators.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
CMC Markets and FXCM both give traders useful market research tools, including daily market commentary, forex news from major sources like Bloomberg, Reuters, and Dow Jones, a sentiment tool showing long and short positions, and an economic calendar with global events. This means either broker can help you keep up with news and track market moves, but CMC Markets goes a step further with Autochartist, a helpful tool for technical and fundamental analysis that FXCM does not offer.
FXCM stands out in a few areas of its own, including Trading Central tools and TipRanks research, which CMC Markets does not provide. Based on independent ratings, CMC Markets scores 5 out of 5 for Research and ranks #6 out of 36 brokers at ForexBrokers.com, while FXCM earns 4.5 out of 5 and ranks #11. Overall, CMC Markets has the edge for research, while FXCM still offers a solid mix of market insights and third-party tools.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner education, both CMC Markets and FXCM give new traders a strong set of learning tools. Each broker offers at least 10 beginner videos, along with 10 or more advanced videos for traders who want to go further. CMC Markets also provides forex and CFD education content, meeting the standard of at least 10 learning pieces focused on these topics. FXCM does the same, and it goes one step further by offering online client webinars at least once a month, which can be especially helpful for beginners who want live guidance and the chance to learn in real time.
Overall, CMC Markets has the edge in education ratings, with 5 stars and a #10 ranking out of 36 brokers for the Education category. FXCM is also a solid choice for learning, earning 4.5 stars and placing #13 out of 36. For beginners comparing the two, CMC Markets stands out for slightly stronger education scores, while FXCM may appeal to those who value regular webinars as part of their learning experience.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Webinars | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that CMC Markets is better than FXCM. CMC Markets finished with an overall rank of #5, while FXCM finished with an overall rank of #10.
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.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 95 |
| Range of Investments |
|
|
| Trading Fees |
|
|
| Trading Platforms |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Comparing online brokers CMC Markets and FXCM: neither supports buying actual (delivered) cryptocurrency, but both offer cryptocurrency CFDs for trading.
CMC Markets vs FXCM: both brokers support ACH/SEPA, PayPal, and bank wire transfers, but only FXCM offers Skrill, while Visa/Mastercard availability is not specified for either.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | CMC Markets | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FXCM Review |
| Broker Screenshots | CMC Markets | FXCM | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | CMC Markets | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| Year Founded | 1989 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 6 | 4 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | CMC Markets | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 440 | |
| Forex Pairs (Total) | 141 | 46 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | CMC Markets | FXCM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.3 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.65 | 0.8 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | FXCM | |
|---|---|---|---|
| Minimum Deposit | $0 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | CMC Markets | FXCM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | CMC Markets | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 73 | 115 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | FXCM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 29 | 59 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | CMC Markets | FXCM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | FXCM | |
|---|---|---|---|
| Webinars | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | CMC Markets | FXCM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | CMC Markets Review | FXCM Review |
| Overall | CMC Markets | FXCM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Trading Fees |
|
| |
| Range of Investments |
|
| |
| Trading Platforms |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FXCM Review |
IG
FOREX.com
CMC Markets
XTB
eToro
Capital.com
AvaTrade
Pepperstone
FP Markets
Tickmill