Written by ForexBrokers.com
In this head to head comparison of IG vs CMC 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.
IG and CMC Markets are two well-regarded online brokers with a shared trust rating of 99 out of 99, as evaluated by ForexBrokers.com. Both companies are publicly traded, offering added transparency and accountability. Founded in 1974, IG also has the status of a bank, setting it apart from CMC Markets, which was established in 1989 and operates solely as a brokerage. Such banking status might appeal to those looking for a broker with banking level regulation and protection.
In terms of regulatory strength, IG holds an impressive eight Tier-1 licenses, demonstrating its reliability as a highly trusted broker. CMC Markets follows with five Tier-1 licenses, also ensuring a high level of confidence among users. Additionally, IG and CMC Markets have two and one Tier-2 licenses, respectively, which further attest to their trusted regulatory standings. This thorough regulatory coverage ensures that both brokers are securely positioned in the market, offering peace of mind to their clients.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Year Founded | 1974 | 1989 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 5 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to comparing IG and CMC Markets in terms of commissions and fees, both brokers have distinct offerings. IG, known for its scalable execution, particularly shines with its Forex Direct accounts which cater to active traders. IG's spreads, while not the lowest, are competitive, averaging 0.62 pips for the EUR/USD in July 2023, with an all-in cost of 0.82 pips. Additionally, IG offers active-trader rebates for professionals, potentially reducing the costs further. With a five-star rating in commissions and fees, IG is ranked #8 among 62 brokers by ForexBrokers.com.
CMC Markets, however, stands out by securing the #1 spot in commissions and fees, also holding a five-star rating. Their strength lies in consistently low spreads for all customers, including the innovative Price Plus Scheme, which rewards high volume traders with additional discounts. As of August 2023, CMC Markets' EUR/USD spreads average 0.61 pips, slightly better than IG's. Their FX Active pricing structure further cuts trading costs, offering an all-in cost as low as 0.5 pips after commissions. This pricing consistency strengthens CMC Markets' reputation as a leader in affordable trading costs.
In summary, both IG and CMC Markets offer valuable benefits for traders. IG caters to those who need scalable execution and leverage active trader rebates, while CMC Markets excels with its standard low spreads and advanced pricing programs, making it an excellent choice for traders seeking some of the most competitive costs in the market.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Minimum Deposit | £250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 0.61 |
| All-in Cost EUR/USD - Active | 0.82 | 0.51 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the breadth of available investments, both IG and CMC Markets shine with distinct offerings tailored to diverse investor needs. IG provides an impressive 19,537 tradeable symbols, compared to CMC Markets' 11,925. For forex enthusiasts, CMC Markets has the edge with 156 tradeable forex pairs, while IG offers 97. Both platforms allow trading of forex as CFDs or spot contracts and offer access to U.S. and international exchange-traded securities, enabling investors to easily acquire shares of companies like Apple and Vodafone.
In terms of cryptocurrency, both brokers allow trading of cryptocurrency derivatives, but neither offers the purchase of actual cryptocurrencies. If copy trading is a priority, CMC Markets has this capability, while IG does not. Despite these differences, each broker is highly rated with both receiving five stars for their range of investments. For even further discrimination, IG ranks slightly higher at #4 in the range of investments category according to ForexBrokers.com, compared to CMC Markets, which ranks #9.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 11925 |
| Forex Pairs (Total) | 97 | 156 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | 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 online brokers IG and CMC Markets in terms of their trading platforms and tools, both offer a comprehensive suite designed to meet traders' needs. IG and CMC Markets provide free virtual demo accounts, making them accessible for beginners eager to practice before investing real money. Each broker boasts proprietary platforms and supports Windows-based desktop and web-based trading, but when it comes to copy trading, CMC Markets has the edge with its offering, whereas IG does not provide this feature. Both brokers support MetaTrader 4 (MT4), but only CMC Markets extends its support to MetaTrader 5 (MT5).
In terms of charting tools, CMC Markets offers more flexibility with 40 drawing tools compared to IG's 20, although both allow direct trading from stock charts. Moreover, CMC Markets outpaces IG in customization with 11 watchlist columns versus IG's 5. Despite these differences, both have received five-star ratings for their trading platforms and tools, indicating strong satisfaction among users. According to ForexBrokers.com, IG ranks slightly higher at number two, with CMC Markets closely following at number four among 62 brokers. This makes both platforms favorable options depending on specific feature preferences and needs.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 79 |
| Charting - Drawing Tools (Total) | 20 | 40 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and CMC Markets provide comprehensive mobile trading experiences with apps available for both iPhone and Android devices. These apps allow traders to set stock and forex price alerts, sync watchlist symbols across devices, and view real-time quotes, ensuring seamless trading on the go. Users can easily draw trendlines on charts, explore multiple time frames ranging from intraday to weekly views, and enjoy the convenience of auto-saving chart drawings—features that are supported by both brokers. Where IG and CMC Markets slightly differ is in the number of technical studies available for charting; IG offers 33, while CMC Markets provides 29, giving IG users a bit more flexibility in this regard.
In terms of user satisfaction and evaluations, both brokers receive exceptional ratings. IG and CMC Markets have secured a perfect 5-star rating for their mobile trading apps, highlighting their reliability and top-tier functionality. However, according to ForexBrokers.com, IG stands out by earning the number one position out of 62 evaluated brokers in the Mobile Trading Apps category, while CMC Markets secures a commendable fifth place. Whether you choose IG or CMC Markets, you'll be equipped with an efficient and user-friendly app to manage your trades with ease and confidence.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 29 |
| 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.
Both IG and CMC Markets are well-equipped online brokers that provide a variety of market research tools to their users. They both offer daily market commentary and access to forex news from prestigious sources like Bloomberg and Reuters. Additionally, they provide essential technical analysis and fundamental research tools available from Autochartist. When it comes to sentiment-based trading tools that show the ratio of long or short positions, both platforms have this feature, allowing traders to gain insights into market trends. An economic calendar, detailing relevant financial events globally, is also available through both brokers, helping traders stay informed on market movements.
However, there are notable differences between the two platforms. IG stands out by offering research tools from TipRanks and Acuity Trading, such as Signal Centre, which CMC Markets lacks. Both brokers do not feature research tools from Trading Central. Despite these differences, IG and CMC Markets share the same high research rating of five stars. Nonetheless, IG is ranked higher at #2 for Research by ForexBrokers.com, while CMC Markets holds the #6 position, indicating IG's broader research capabilities.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both IG and CMC Markets provide a solid foundation for learning about forex and CFDs. Each broker offers over ten educational articles, videos, and archived webinars tailored to help newcomers to trading understand the fundamentals. Importantly, IG goes a step further by offering monthly live webinars, which can be a valuable asset for those who appreciate real-time, interactive learning experiences. Although CMC Markets does not provide such regular live sessions, both brokers do maintain searchable archives of recorded webinars, enabling users to revisit past topics at their convenience.
In terms of video content, both IG and CMC Markets have invested in producing a wide range of educational videos suitable for beginners and more advanced traders alike. Their extensive video libraries ensure that traders at any level can find suitable content to enhance their skills. Additionally, both platforms offer an investor dictionary, giving definitions for over 50 investing terms, which is ideal for brushing up on essential vocabulary. While both brokers have achieved high ratings for their educational offerings, with five stars each, IG's position as the top-ranked broker for education by ForexBrokers.com, out of 62 evaluated brokers, highlights its commitment to providing exceptional learning resources. CMC Markets, although rated highly as well, holds the tenth position, emphasizing room for distinction in educational ranking.
| Feature |
IG
|
CMC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| 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 62 of the best forex brokers, our research and account testing finds that IG is better than CMC Markets. IG finished with an overall rank of #1, while CMC Markets finished with an overall rank of #4.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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CMC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Both IG and CMC Markets do not provide the option to purchase actual, delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
Both IG and CMC Markets provide multiple options for depositing and withdrawing account funds, including ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wires, but neither broker supports Skrill.
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 | IG | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | CMC Markets Review |
| Broker Screenshots | IG | CMC Markets | |
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| Regulation | IG | CMC Markets | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1974 | 1989 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 5 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | IG | CMC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | CMC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | CMC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 11925 | |
| Forex Pairs (Total) | 97 | 156 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | 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 | IG | CMC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.61 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.51 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | CMC Markets | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | IG | CMC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | CMC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 11 | |
| Charting - Indicators / Studies (Total) | 33 | 79 | |
| Charting - Drawing Tools (Total) | 20 | 40 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | CMC Markets | |
|---|---|---|---|
| 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 | 33 | 29 | |
| 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 | IG | CMC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | CMC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| 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 | IG | CMC 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 | IG Review | CMC Markets Review |
| Overall | IG | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | IG Review | CMC Markets Review |
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