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 | 0.78 |
| All-in Cost EUR/USD - Active | 0.65 | 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 in terms of their investment options, CMC Markets stands out with an impressive 12,029 tradeable symbols, while FXCM offers a more modest 440. Both platforms provide the opportunity to trade forex as CFDs or spot contracts, but CMC Markets offers a broader selection with 141 forex pairs compared to FXCM's 46. Additionally, CMC Markets supports investing in exchange-traded securities on both U.S. and international exchanges, allowing clients to buy shares like Apple and Vodafone. In contrast, FXCM does not offer access to exchange-traded securities.
Both CMC Markets and FXCM facilitate copy trading and allow trading of cryptocurrency derivatives, though neither offers the purchase of actual cryptocurrencies. Overall, CMC Markets is rated higher for its range of investments, earning 5 stars compared to FXCM's 3.5 stars. Reflecting these differences, CMC Markets ranks 9th among 63 brokers on ForexBrokers.com for Range of Investments, while FXCM is placed 47th. This comparison highlights CMC Markets as a more versatile choice for those seeking varied investment opportunities.
| 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.
When comparing the trading platforms and tools offered by CMC Markets and FXCM, both brokers present a variety of appealing options for traders. Each provides a free simulated demo account, allowing users to practice before committing real funds. Both brokers also offer proprietary platforms and support for MetaTrader 4, with CMC Markets having an added advantage by also offering MetaTrader 5. Furthermore, both brokers have Windows-based desktop platforms and web-based platforms for seamless access. The trading experience is further enriched with copy trading available on both platforms, though only FXCM supports ZuluTrade.
In terms of charting tools, CMC Markets stands out with 36 drawing tools compared to FXCM's 10, which could appeal to traders who like detailed analysis. However, FXCM offers two more columns for watch lists than CMC Markets, providing a slightly broader overview of key fields. Both platforms enable trading directly from a stock chart, enhancing ease and efficiency. Despite these differences, both brokers are highly rated, each earning 5 stars for their trading platforms and tools. However, a key distinction is in their ForexBrokers.com rankings, with CMC Markets positioned slightly higher at #4 compared to FXCM's #6, suggesting a marginal edge in this category.
| 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) | 73 | 115 |
| Charting - Drawing Tools (Total) | 36 | 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 | |
| Winner | check_circle | ||
| 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 | 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/Central Bank 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 | 0.78 | |
| All-in Cost EUR/USD - Active | 0.65 | 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) | 73 | 115 | |
| Charting - Drawing Tools (Total) | 36 | 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 |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FXCM Review |
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