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 comparing CMC Markets and FXCM for commissions and fees, CMC Markets leads the pack with a 5-star rating and holds the #1 rank among 63 brokers. CMC Markets is celebrated for its low spread offerings, with typical spreads of 0.61 pips on the EUR/USD as of August 2023. Their innovative Price Plus Scheme further enhances affordability by allowing traders to earn discounts based on trading volume. Additionally, the FX Active pricing structure, launched in regions like Southeast Asia, Australia, and the UK, offers commission-based pricing at $2.50 per side, resulting in a minimal cost when trading popular pairs like EUR/USD.
In contrast, FXCM receives a 4-star rating and is ranked #25 among 63 brokers. FXCM's pricing for forex trading is slightly higher than average, with spreads on the EUR/USD averaging 0.78 pips for its EU, UK, and Australia offerings, while the St. Vincent and the Grenadines entity sees higher spreads. For commission-based accounts, average spreads drop to 0.28 pips, although actual costs may rise to 0.74 pips when accounting for the commission. FXCM’s Active Trader Rebate Program offers discounts for high-volume traders, but its offerings are generally considered less competitive compared to industry leaders like CMC Markets.
Both brokers offer active trader programs, but CMC Markets stands out with its streamlined cost structures and efficient spread reductions, maintaining a position as a pricing leader in the industry. FXCM, although offering viable options, often sees more significant cost fluctuations and does not provide the same level of price advantage as its competitor. Whether you prioritize lower spreads or comprehensive discount programs, CMC Markets remains the top choice for traders looking for cost-effective trading solutions.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Minimum Deposit | $0 | Starts from $50 |
| Average Spread EUR/USD - Standard | 1.3 | 0.9 |
| All-in Cost EUR/USD - Active | 0.65 | 0.8 |
| Active Trader or VIP Discounts [DELETED] | ||
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) [DELETED] | ||
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments, CMC Markets offers far more choice than FXCM. CMC Markets lists 12,029 tradeable symbols and 141 forex pairs, while FXCM provides 440 symbols and 46 forex pairs. Both brokers support forex trading as contracts for difference (CFDs) and as spot, and both offer cryptocurrency derivatives (not actual, delivered crypto). Copy trading is available at both CMC Markets and FXCM.
CMC Markets also lets clients buy exchange-traded securities on U.S. and international exchanges (for example, Apple on NASDAQ and Vodafone in London), whereas FXCM does not offer exchange-traded shares. Reflecting these differences, CMC Markets is rated 5 out of 5 stars and ranked 9th out of 63 brokers for Range of Investments by ForexBrokers.com, while FXCM holds 3.5 out of 5 stars and ranks 48th.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 440 |
| Forex Pairs (Total) | 141 | 46 |
| 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.
CMC Markets and FXCM both make it easy to get started with a free demo account for practice. Each broker provides an in-house platform along with a Windows desktop download and a web-based platform. Both support MetaTrader 4 (MT4), offer copy trading, and let you place trades directly from charts. The key difference is platform range: CMC Markets also supports MetaTrader 5 (MT5), while FXCM does not.
For trading platforms and tools, both earn 5 stars. In ForexBrokers.com’s rankings out of 63 brokers, CMC Markets places #4 and FXCM ranks #6. If MT5 matters to you, CMC Markets is the clear pick; if you’re focused on MT4, chart trading, and copy trading, both brokers deliver a strong, user-friendly experience.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading 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 [DELETED] | ||
| ZuluTrade [DELETED] | ||
| Charting - Indicators / Studies (Total) | 73 | 115 |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields [DELETED] |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and FXCM both deliver full-featured mobile trading apps for iPhone and Android. Each app supports price alerts, synced watchlists that match your online account, real-time quotes, and charting tools that let you draw trendlines with drawings saved automatically. Details about viewing multiple time frames in the mobile apps weren’t specified for either broker.
For technical indicators, FXCM offers 59 studies versus 29 at CMC Markets, giving FXCM an edge for traders who want more built-in indicators. That said, CMC Markets earns a higher overall score: 5 stars and a #5 ranking for Mobile Trading Apps from ForexBrokers.com, compared with FXCM’s 4.5 stars and #16 ranking. Choose FXCM if indicator depth matters most, or CMC Markets if you prefer an app with stronger third‑party ratings.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 59 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | ||
| Mobile Charting - Trendlines 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 |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing CMC Markets vs FXCM for beginner education: both brokers provide deep video libraries, including at least 10 beginner-focused trading videos and 10+ advanced videos, making it easy to learn core forex and CFD concepts through step-by-step lessons. FXCM hosts ongoing online educational webinars at least once per month, which is helpful if you prefer live instruction; CMC Markets does not run monthly client webinars. Details about each broker’s searchable archive of recorded webinars and whether they offer an investor dictionary weren’t specified.
In expert evaluations, CMC Markets earns 5 stars for Education and ranks #10 out of 63 brokers at ForexBrokers.com, while FXCM scores 4.5 stars and ranks #14. If you want top-rated, highly polished video education, CMC Markets edges ahead. If live, recurring webinars are a priority for beginner traders, FXCM offers that ongoing guidance. Either way, both brokers deliver strong video-based learning paths for new forex and CFD traders.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Education (Forex or CFDs) | ||
| Webinars | No | Yes |
| Client Webinars (Archived) [DELETED] | ||
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) [DELETED] |
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.
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.
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0 of 5| Overall Rating | CMC Markets | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FXCM Review |
| Broker Screenshots | CMC Markets | FXCM | |
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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 | 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 (SFC 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 SCA 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. 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 | 1.3 | 0.9 | |
| All-in Cost EUR/USD - Active | 0.65 | 0.8 | |
| 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 | |
| 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 | |
| Social Trading / 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 | Yes | Yes | |
| Watchlist 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 | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | 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 | 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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