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) - Spread-only account | 1.3 | 0.9 |
| All-in Cost EUR/USD - Raw spread account | 1.15 | 0.8 |
| Non-wire bank transfer (Deposit/Withdraw) | 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 has the wider range of investments compared with FXCM. It offers 21,710 tradeable symbols and 303 forex pairs, while FXCM lists 440 symbols and 46 forex pairs. Both brokers support forex trading as a CFD or spot contract, and both offer cryptocurrency CFDs, but neither lets you buy actual cryptocurrency. CMC Markets also stands out for giving clients access to exchange traded securities on both U.S. and international exchanges, which means you can buy real shares such as Apple or Vodafone. FXCM does not offer these direct share purchases, though it does provide copy trading, which CMC Markets does not.
For investors focused on variety, CMC Markets is the stronger choice and is rated 5 out of 5 stars for Range of Investments, with a ForexBrokers.com ranking of #9 out of 36 brokers. FXCM is rated 4.5 stars and ranks #21, so it offers a more limited selection overall. In simple terms, CMC Markets is better suited to traders who want more markets and more asset types, while FXCM may appeal more to those who value copy trading.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 21710 | 440 |
| Forex Pairs (Total) | 303 | 46 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | 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 strong choice of platforms and tools, including free demo accounts, their own in-house platform, desktop downloads for Windows, browser-based trading, MetaTrader 4, and the ability to place trades directly from charts. Both brokers also earn a 5-star rating for Trading Platforms and Tools, showing that each offers a user-friendly setup for everyday trading. CMC Markets stands out for offering MetaTrader 5, while FXCM does not, which may matter for traders who want the newer MetaTrader option.
FXCM has an edge in copy trading, which CMC Markets does not offer, making FXCM a better fit for traders who want to follow other investors. In ForexBrokers.com’s Trading Platforms and Tools category, FXCM is ranked #4 out of 36 brokers, ahead of CMC Markets at #6 out of 36. Overall, CMC Markets is a solid pick for traders who want MT5 support, while FXCM may appeal more to those looking for copy trading alongside a wide range of platform choices.
| 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 | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 65 | 115 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and FXCM both make mobile trading easy for iPhone and Android users, and each app includes stock and forex price alerts plus watchlist syncing with your online account. Both platforms also let you draw trendlines on charts and automatically save those drawings, so your work stays in place when you return to the app. For traders who want a simple way to manage trades on the go, both apps cover the basics well.
When it comes to charting tools and overall mobile app quality, CMC Markets has the edge. Its mobile app offers 30 technical studies, while FXCM provides 59, giving FXCM more chart indicators to work with. Even so, CMC Markets holds a better user rating at 5 stars for mobile trading apps and ranks #5 out of 36 brokers with ForexBrokers.com, compared with FXCM’s 4.5 stars and #16 ranking. If you want the stronger overall mobile experience, CMC Markets stands out, while FXCM may appeal to traders who want more charting options.
| 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 | 30 | 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.
For beginners looking for trading lessons, both CMC Markets and FXCM offer a strong range of education on forex and CFDs. Each broker provides at least 10 pieces of learning content focused on these markets, along with monthly online client webinars and plenty of beginner videos as well as advanced videos for traders who want to go further. That means either platform can give new traders a solid starting point with clear, practical learning materials.
CMC Markets has the edge overall for education. It earns 5 out of 5 stars for Education and ranks #10 out of 36 brokers on ForexBrokers.com, while FXCM is rated 4.5 out of 5 stars and ranks #13. In simple terms, both brokers are good choices for beginner-friendly learning, but CMC Markets appears to offer a slightly better education experience overall.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Webinars | Yes | 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
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FXCM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 95 |
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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.
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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 (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) | 21710 | 440 | |
| Forex Pairs (Total) | 303 | 46 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | 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) - Spread-only account | 1.3 | 0.9 | |
| All-in Cost EUR/USD - Raw spread account | 1.15 | 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 (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | CMC Markets | FXCM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | 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) | 65 | 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 | 30 | 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 | Yes | 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 | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FXCM Review |
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