To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare CMC Markets vs FxPro.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. CMC Markets is a better option with a 5 star rating over FxPro's 4 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both CMC Markets and FxPro are regulated in a major hub. CMC Markets is a publicly traded company, while FxPro is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. CMC Markets offers its clients access to 183 different currency pairs while FxPro has 70 available pairs, a difference of 113.
To round out our comparison of CMC Markets vs FxPro, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. FxPro makes Meta Trader available to clients, while CMC Markets does not. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. CMC Markets trails FxPro by 7 total charting tools, with FxPro offering 31 and CMC Markets offering 24. CMC Markets boasts an offering of 81 different indicators (for example, moving averages) compared to FxPro's 51 available indicators.
Overall, CMC Markets takes the upper hand with 4.5 stars over FxPro's 4 stars. And, when it comes to individual category awards, unfortunately, neither CMC Markets nor FxPro received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.