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.
Founded in 1989, CMC Markets stands out in the online brokerage world for its high level of trust and transparency. With a Trust Score of 99 out of 99, CMC Markets is considered highly trusted according to ForexBrokers.com. The company is publicly traded on a stock exchange and holds six Tier-1 licenses, which are recognized as highly trusted. In addition to its strong regulatory standing, CMC Markets also possesses a Tier-2 license, contributing to its credibility and reliability as a financial service provider.
In contrast, IC Markets, established in 2007, offers a commendable level of trust but falls short when compared to CMC Markets. With a Trust Score of 84, IC Markets is rated as trusted by ForexBrokers.com. Although not publicly traded, IC Markets maintains two Tier-1 licenses, aligning them with a moderate level of trust within the industry. The lack of Tier-2 licenses does create a differentiation, as potential traders might consider the comprehensive regulatory structure a lower-scoring competitor offers.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Year Founded | 1989 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 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 | 1.3 | 0.62 |
| All-in Cost EUR/USD - Active | 0.65 | 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.
CMC Markets and IC Markets both support forex trading as a CFD or spot contract, along with copy trading and cryptocurrency derivatives (neither lets you buy actual crypto). The key difference is breadth: CMC Markets lists 12,029 tradeable symbols and 141 forex pairs, while IC Markets offers 3,583 symbols and 61 forex pairs. If you want access to more instruments and currency pairs, CMC Markets delivers a much wider selection.
For share dealing, CMC Markets provides exchange-traded securities on both U.S. and international exchanges, whereas IC Markets offers international stocks but not U.S. stocks. Reflecting this coverage, ForexBrokers.com rates CMC Markets 5 stars for Range of Investments and ranks it #9 out of 63 brokers; IC Markets earns 4.5 stars and ranks #26. Traders seeking the broadest mix of markets may prefer CMC Markets, while IC Markets remains a strong choice for CFD and forex-focused strategies.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12029 | 3583 |
| Forex Pairs (Total) | 141 | 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 CMC Markets and IC Markets, both online brokers excel with features that cater to different trading needs. CMC Markets stands out with its in-house developed trading platform, offering users a unique proprietary experience. In contrast, while IC Markets doesn't offer a proprietary platform, it supports popular third-party platforms such as MetaTrader 4 and 5, making it a flexible choice for traders who prefer these mainstream options. Both brokers provide Windows-based and web-based platforms, supporting a wide range of access scenarios. However, CMC Markets offers more drawing tools with its charting capabilities, featuring 36 tools compared to IC Markets' 15. Both provide the ability to trade directly from a stock chart and offer demo accounts for simulated trading, making it easy for users to familiarize themselves with the platforms.
In terms of specific tools, while they both support copy trading, IC Markets additionally offers ZuluTrade, which might appeal to traders interested in that service. CMC Markets offers more comprehensive watch list options with 11 columns, compared to IC Markets' 7, which could be beneficial for traders keen on detailed market monitoring. When it comes to ratings according to ForexBrokers.com, CMC Markets edges ahead with a 5-star rating and a ranking of 4th out of 63 brokers, whereas IC Markets holds a solid 4-star rating and ranks 16th. This distinction highlights CMC Markets' highly regarded trading platforms and tools, making it an appealing choice for traders seeking a highly rated service.
| 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) | 73 | 30 |
| Charting - Drawing Tools (Total) [DELETED] | 36 | 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 | |
| Winner | check_circle | ||
| 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 | 6 | 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) | |||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | CMC Markets | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12029 | 3583 | |
| Forex Pairs (Total) | 141 | 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 | 1.3 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.65 | 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) | 73 | 30 | |
| Charting - Drawing Tools (Total) [DELETED] | 36 | 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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