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.
CMC Markets, founded in 1989, is a publicly traded online broker with a stellar reputation, reflected in its top Trust Score of 99 from ForexBrokers.com. This high rating signifies a high level of trust, bolstered by its five Tier-1 licenses recognized as highly trusted. Although not a bank, CMC Markets' strong regulatory standing supports its credibility and reliability in the trading industry. In addition, it holds one Tier-2 license, which is also valued by regulators and investors.
On the other hand, FXCM, established in 1999, is also a publicly traded entity that holds a respectable Trust Score of 95, indicating a trusted status. FXCM has secured four Tier-1 licenses, affirming its trustworthy standing among traders. Like CMC Markets, FXCM is not a bank, but it maintains a solid regulatory framework with two Tier-2 licenses, providing an additional layer of confidence for users. This comparison highlights both brokers as reputable choices, with CMC Markets edging out slightly due to its higher trust score and regulatory licenses.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Year Founded | 1989 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 5 | 4 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
CMC Markets stands out in the online brokerage scene with a five-star rating for its competitive commissions and fees structure, securing the top spot out of 63 brokers in the Commissions and Fees category. Known for its consistently low spreads, CMC Markets impresses across all account types. With average spreads as low as 0.61 pips on the EUR/USD, it offers prices better than the industry average. Their innovative Price Plus Scheme rewards active traders with discounts based on trading volume, while the FX Active pricing structure, implemented in several regions including Southeast Asia and the UK, combines minimal spreads and low commissions, resulting in an overall cost of 0.5 pips for select trades.
On the other hand, FXCM offers a solid alternative with a four-star rating, ranking 24th in the Commissions and Fees category. While its pricing is slightly above the industry average, FXCM provides competitive spreads on its commission-based accounts, averaging at 0.28 pips for the EUR/USD, excluding the added commissions. While the standard account can reach spreads of 0.78 pips, FXCM's Active Trader Rebate Program, not offered in the UK or EU, allows traders who reach certain trading volumes to benefit from rebates. Additionally, the program is tiered, offering enticing rebates, although they are not as competitive as some of its peers like Tickmill and FP Markets.
In summary, while both CMC Markets and FXCM offer viable options for online trading, CMC Markets sets itself apart with its extensive offerings, competitive spreads, and innovative pricing schemes. FXCM also provides appealing options, particularly for those who can leverage its active trader discounts, but it doesn't quite match the overall value and low-cost structure of CMC Markets.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Minimum Deposit | $0 | Starts from $50 |
| Average Spread EUR/USD - Standard | 0.61 | 0.78 |
| All-in Cost EUR/USD - Active | 0.51 | 0.78 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing CMC Markets and FXCM for their range of investments, significant differences emerge that could influence your choice of online broker. CMC Markets stands out with an impressive array of 11,925 tradeable symbols, dwarfing FXCM's 440. Both platforms offer forex trading as a CFD or spot contract, but CMC Markets provides access to 156 forex pairs compared to FXCM’s 43. If you're interested in exchange-traded securities, CMC Markets allows clients to purchase shares on both U.S. and international exchanges, including popular companies like Apple and Vodafone. In contrast, FXCM does not provide options for trading actual exchange-traded securities.
Both brokers offer cryptocurrency derivatives rather than actual coins, and they provide copy trading services. However, CMC Markets earns a better rating for its investment range with 5 stars, compared to FXCM’s 3.5 stars. According to ForexBrokers.com, CMC Markets is ranked 9th out of 63 brokers for their investment offerings, while FXCM is placed further down at 47th, reflecting CMC Markets' more extensive range of investment options.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 440 |
| Forex Pairs (Total) | 156 | 43 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | 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 comparing CMC Markets and FXCM for their trading platforms and tools, both brokers provide a variety of resources designed to meet the needs of traders. CMC Markets and FXCM each offer free virtual demo accounts, making them ideal for beginners who want to practice without risking real money. Both brokers have developed their own proprietary platforms and support Windows-based desktop applications along with web-based trading platforms, providing flexibility in how traders access the markets. Additionally, CMC Markets and FXCM both support MetaTrader 4 (MT4), but only CMC Markets offers MetaTrader 5 (MT5). Moreover, while both provide copy trading, only FXCM includes the ZuluTrade platform, adding an extra layer of social trading capability to its offerings.
In terms of charting, CMC Markets boasts 40 drawing tools compared to FXCM’s 10, allowing for more detailed technical analysis. However, FXCM offers more columns for watch lists, providing 13 fields compared to CMC Markets’ 11, which can help traders customize their market view. Both platforms allow trading directly from stock charts, enhancing the ease and speed of executing trades. Rated with five stars for their trading platforms and tools, both brokers are highly regarded, yet CMC Markets holds a slight edge being ranked #4 out of 63 brokers by ForexBrokers.com, while FXCM is close behind at #6. These brokers offer competitive and excellent options for traders looking for reliable and feature-rich trading platforms.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 79 | 115 |
| Charting - Drawing Tools (Total) | 40 | 10 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and FXCM both provide feature-rich mobile trading apps that cater to iPhone and Android users. These apps come equipped with essential tools like stock and forex price alerts, watchlist symbol syncing, and the ability to draw trendlines on charts. Users can also view multiple time frames and create watchlists with real-time quotes. Both apps offer auto-saving of chart drawings, ensuring that no detail is lost during analysis. However, a notable distinction lies in the number of technical studies available, with FXCM offering 59 compared to CMC Markets' 29.
When it comes to user ratings, CMC Markets boasts a perfect 5-star rating for its mobile trading apps, while FXCM follows closely with a 4.5-star rating. Reflecting this, CMC Markets holds the #5 spot out of 63 brokers in the Mobile Trading Apps category, according to ForexBrokers.com, surpassing FXCM which ranks at #16. Overall, both apps provide a comprehensive trading experience, but CMC Markets slightly edges out FXCM in terms of overall user satisfaction and industry ranking.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 59 |
| 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.
When comparing CMC Markets to FXCM in terms of market research, both brokers provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, making it easier for traders to stay informed. CMC Markets stands out by offering tools from Autochartist, which FXCM does not provide. Meanwhile, FXCM complements its offering with research tools from Trading Central and market insights from TipRanks, which are absent in CMC Markets' suite.
Both brokers offer sentiment-based trading tools and economic calendars to help traders stay ahead of market trends. While CMC Markets earns a 5-star rating for its research offerings, FXCM follows closely with a 4.5-star rating. In a ranking of 63 brokers by ForexBrokers.com, CMC Markets holds the 6th place for research while FXCM is ranked 11th, showing that both platforms are strong contenders but with CMC Markets having a slight edge in research tools and resources.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginner traders, both CMC Markets and FXCM offer ample materials to help you get started with forex and CFDs. CMC Markets provides a comprehensive collection of educational content, including more than ten articles, videos, and archived webinars focused on forex and CFDs. They also cater to beginners with at least ten instructional videos on trading basics. While CMC Markets doesn't offer regular monthly webinars, they do provide a searchable archive of recorded sessions, allowing learners to explore a wide range of topics at their own pace. Additionally, CMC Markets includes an investor dictionary with over 50 investing terms, making it a strong choice for those eager to learn and understand trading terminology.
FXCM, on the other hand, matches CMC Markets in terms of educational content quantity, also offering over ten pieces dedicated to forex and CFDs. FXCM goes a step further with their monthly educational webinars, providing fresh learning opportunities in real-time. Like CMC Markets, they too maintain a library of archived webinars and cater to both beginners and advanced traders with a wealth of instructional videos. Their investor dictionary is just as comprehensive. Despite being closely matched in resources, CMC Markets is rated slightly higher with five stars, compared to FXCM's 4.5 stars in educational offerings. Moreover, CMC Markets ranks #10 among 63 brokers for education, while FXCM is ranked #14, making CMC Markets a potentially preferred choice for education-focused traders.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| 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 CMC Markets is better than FXCM. CMC Markets finished with an overall rank of #4, while FXCM finished with an overall rank of #15.
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 |
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| Trust Score | 99 | 95 |
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Both CMC Markets and FXCM do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
Both CMC Markets and FXCM provide ACH and SEPA transfers, PayPal, Visa and Mastercard, and bank wires for depositing or withdrawing funds; however, unlike CMC Markets, FXCM also offers Skrill as an additional option.
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 | CMC Markets | FXCM | |
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| Trust Score | 99 | 95 | |
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| Review | CMC Markets Review | FXCM Review |
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| 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 | 5 | 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 (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 440 | |
| Forex Pairs (Total) | 156 | 43 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | 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 | CMC Markets | FXCM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 0.78 | |
| All-in Cost EUR/USD - Active | 0.51 | 0.78 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | CMC Markets | FXCM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | CMC Markets | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 13 | |
| Charting - Indicators / Studies (Total) | 79 | 115 | |
| Charting - Drawing Tools (Total) | 40 | 10 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 29 | 59 | |
| 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 | CMC Markets | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | FXCM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| 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 | CMC Markets | FXCM | |
|---|---|---|---|
| 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 | CMC Markets Review | FXCM Review |
| Overall | CMC Markets | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FXCM Review |
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