Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs IC Markets, 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, established in 1989, stands out as a highly trusted online broker, boasting a Trust Score of 99 according to ForexBrokers.com. This broker is publicly traded and holds five Tier-1 licenses, ensuring a strong regulatory standing, along with one Tier-2 license. While CMC Markets is not a bank, its admirable regulatory compliance and status as a publicly listed company on a stock exchange provide added confidence for investors.
In contrast, IC Markets, founded in 2007, is a privately-owned broker with a Trust Score of 84, indicating a trusted status. Although IC Markets does not operate as a bank or hold any Tier-2 licenses, it maintains two Tier-1 licenses, providing a secure environment for traders. Despite not being publicly traded, its regulatory measures contribute to its credibility within the trading community.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Year Founded | 1989 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
CMC Markets stands out in the forex market with its stellar rating and competitive pricing, earning it a number one ranking among 63 brokers for commissions and fees. The platform boasts an impressive average spread of 0.61 pips on EUR/USD. Their innovative Price Plus Scheme offers discounts based on trading volume, allowing active traders to benefit from reduced spreads. Additionally, the FX Active pricing model introduces a commission of $2.50 per side on top of zero minimum spreads, leading to an all-in cost of 0.5 pips for the EUR/USD. This transparent cost structure ensures that traders can enjoy consistent savings while maintaining flexibility across various account types.
IC Markets offers an equally competitive trading experience, meriting a Best in Class honor in the Commissions & Fees category. With three distinct account types, including the Standard account with no commissions and the Raw Spread account available for both cTrader and MetaTrader platforms, traders have a range of options to suit their strategy. The cTrader account features an average spread of 0.02 pips on the EUR/USD, culminating in an all-in cost of 0.62 pips after commissions. MetaTrader users experience slightly higher costs at 0.72 pips for the same spread, while the Standard account offers a no-commission alternative at 0.62 pips average spread. IC Markets also provides discounts for those executing over 100 standard lots monthly, enhancing its appeal to high-volume traders.
Both CMC Markets and IC Markets excel with a 5-star rating for commissions and fees, but CMC Markets holds the leading position thanks to its consistently low and predictable trading costs. IC Markets ranks fifth, earning a strong reputation for its attractive pricing and flexible account options. Whether you're a novice trader or a seasoned professional, both brokers offer compelling options to minimize trading costs while delivering quality service.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Average Spread EUR/USD - Standard | 0.61 | 0.62 |
| All-in Cost EUR/USD - Active | 0.51 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| 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 IC Markets, both brokers offer a strong platform for forex trading through CFDs or spot contracts. However, CMC Markets stands out with an impressive 11,925 tradeable symbols, significantly more than IC Markets' offering of 3,583. Additionally, CMC provides access to 156 tradeable forex pairs compared to IC Markets' 61. This broader range gives CMC Markets a distinct advantage for traders seeking variety in their investments.
CMC Markets also excels by offering exchange-traded securities on both U.S. and international exchanges, whereas IC Markets only provides access to international securities. Both brokers provide similar services in terms of cryptocurrency derivatives and copy trading, but do not allow for the purchase of actual cryptocurrencies. With a higher rating of 5 stars for its range of investments, CMC Markets is ranked 9th out of 63 brokers by ForexBrokers.com, while IC Markets holds a 4.5-star rating and ranks 25th. This highlights CMC Markets' superior range of investment options for traders who value diversity and flexibility in their trading activities.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 3583 |
| Forex Pairs (Total) | 156 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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 IC Markets, both brokers provide a free virtual demo account for simulated trading. CMC Markets excels with its in-house developed proprietary platform, while IC Markets does not offer its own platform. Both brokers offer Windows desktop and web-based platforms, as well as popular MetaTrader 4 and MetaTrader 5. They also provide copy trading services, although only IC Markets supports ZuluTrade, which CMC Markets lacks. CMC Markets shines with 40 drawing tools compared to IC Markets' 15, and provides a richer watchlist experience with 11 columns against IC Markets' 7.
Trade from a stock chart feature is available with both brokers. Rated at 5 stars for trading platforms and tools, CMC Markets ranks highly at number 4 out of 63 brokers by ForexBrokers.com. This reflects a more powerful offering compared to IC Markets' 4-star rating and rank of 16. With these distinctions, CMC Markets stands out for those seeking a more comprehensive suite of trading tools and customization options. This detailed comparison highlights crucial differences, helping traders to make an informed decision based on platform flexibility and available resources.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 79 | 30 |
| Charting - Drawing Tools (Total) | 40 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both CMC Markets and IC Markets offer comprehensive mobile trading apps for iPhone and Android users, making it convenient for traders on the go. While both platforms provide essential features such as stock and forex price alerts and the ability to draw trendlines on charts, there are some differences in their offerings. CMC Markets stands out with its watchlist symbol syncing feature, ensuring seamless integration between the mobile app and the online account, a feature IC Markets lacks. In terms of technical studies for charting, IC Markets edges slightly ahead with 30 studies compared to CMC Markets' 29, but both allow viewing multiple timeframes and auto-saving of chart drawings.
When it comes to the user experience and industry recognition, CMC Markets receives a perfect 5-star rating for its mobile trading app, compared to IC Markets' 4-star rating. Additionally, CMC Markets ranks higher at number 5 in the Mobile Trading Apps category by ForexBrokers.com, as opposed to IC Markets, which is positioned at number 22 out of 63 brokers. This suggests that while both apps are well-equipped for active trading, CMC Markets may offer a more polished and integrated mobile trading experience.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| 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 the market research offerings of CMC Markets and IC Markets, both brokers deliver valuable services to their users, including daily market commentary and access to forex news from leading sources like Bloomberg and Reuters. Additionally, traders using either platform benefit from advanced tools provided by Autochartist and can make informed decisions through sentiment-based trading tools that show market positions. However, a notable difference lies in the additional technical analysis support provided by Trading Central, which is available through IC Markets but not CMC Markets. Both brokers feature an economic calendar to help clients stay ahead of global market events, and neither provides tools from Acuity Trading or TipRanks.
Despite these similarities in service, the quality and range of research tools lead to a higher rating for CMC Markets, with an impressive 5 stars compared to IC Markets' 4 stars. CMC Markets ranks as the sixth best out of 63 brokers for research on ForexBrokers.com, showcasing their exceptional market insights and trader support. In contrast, IC Markets holds the 23rd position, indicating a solid but less comprehensive offering. Overall, while both brokers present strong market research capabilities, CMC Markets elevates its offering to suit the needs of traders looking for extensive market analysis resources.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both CMC Markets and IC Markets stand out by providing a wide array of learning materials on forex and CFDs. Both online brokers offer at least 10 educational pieces, such as articles, videos, and archived webinars, making them accessible for new traders looking to expand their knowledge. Additionally, both brokers maintain a searchable archive of recorded webinars, allowing beginners to revisit past sessions. Each broker also provides a collection of at least 10 beginner-focused trading videos to help newcomers get started, as well as a comprehensive investor dictionary featuring over 50 investing terms.
Despite these similarities, some differences set CMC Markets apart from IC Markets. While IC Markets hosts online educational webinars at least once a month, CMC Markets does not. However, CMC Markets receives a higher rating of 5 stars for its education offerings compared to IC Markets’ 4-star rating. Furthermore, CMC Markets is ranked 10th in the Education category out of 63 brokers on ForexBrokers.com, whereas IC Markets sits at 16th. This suggests that while both platforms offer valuable resources, CMC Markets might be more appealing for those seeking a highly rated educational experience.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| 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 IC Markets. CMC Markets finished with an overall rank of #4, while IC Markets finished with an overall rank of #20.
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
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Both CMC Markets and IC Markets do not offer the ability to buy actual delivered cryptocurrency; however, they both provide options for purchasing cryptocurrency derivatives.
CMC Markets and IC Markets both provide diverse options for depositing and withdrawing funds, including PayPal, Visa, Mastercard, and bank wires, but CMC Markets uniquely supports ACH and SEPA transfers, whereas IC Markets offers Skrill as an additional method.
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 | IC Markets | |
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| Trust Score | 99 | 84 | |
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| Review | CMC Markets Review | IC Markets Review |
| Broker Screenshots | CMC Markets | IC Markets | |
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| Regulation | CMC Markets | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1989 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| 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 | No | |
| 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 | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 3583 | |
| Forex Pairs (Total) | 156 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.51 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $200 | |
| 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 | No |
| Trading Platforms | CMC Markets | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | CMC Markets | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 79 | 30 | |
| Charting - Drawing Tools (Total) | 40 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| 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 | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | IC Markets | |
|---|---|---|---|
| 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 | IC Markets | |
|---|---|---|---|
| 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 | IC Markets Review |
| Overall | CMC Markets | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | IC Markets Review |
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