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CMC Markets vs Interactive Brokers 2020
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall Rating
| Feature | CMC Markets | Interactive Brokers |
| Overall | ||
| CMC Markets Review | Interactive Brokers Review | |
| 70.5% of retail CFD accounts lose money | 63.5% of retail CFD accounts lose money |
Regulation
| Feature | CMC Markets | Interactive Brokers |
| Trust Score | 99 | 91 |
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Year Founded |
1989 | 1977 |
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Publicly Traded (Listed) |
Yes | Yes |
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Bank |
No | No |
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Tier-1 Licenses |
4 | 5 |
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Tier-2 Licenses |
2 | 0 |
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Tier-3 Licenses |
0 | 0 |
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Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | CMC Markets | Interactive Brokers |
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ASIC Authorised (Australia) |
Yes | No |
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IIROC Authorised (Canada) |
Yes | Yes |
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SFC Authorised (Hong Kong) |
No | Yes |
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FSA Authorised (Japan) |
No | Yes |
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MAS Authorised (Singapore) |
Yes | No |
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FINMA Authorised (Switzerland) |
No | Yes |
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FCA Authorised (UK) |
Yes | Yes |
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CFTC Registered (USA) |
No | Yes |
Investments
| Feature | CMC Markets | Interactive Brokers |
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Forex: Spot Trading |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | No |
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Currency Pairs (Total Forex pairs) |
180 | 105 |
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CFDs - Total Offered |
9848 | 7400 |
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Cryptocurrency traded as actual |
No | No |
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Cryptocurrency traded as CFD |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | CMC Markets | Interactive Brokers |
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Average Spread EUR/USD - Standard |
0.81 (as of Oct 19) | N/A |
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All-in Cost EUR/USD - Active |
0.81 (as of Oct 19) | N/A |
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Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | CMC Markets | Interactive Brokers |
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Minimum Initial Deposit |
$0.00 | $0 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | No |
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PayPal (Deposit/Withdraw) |
Yes | No |
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Skrill (Deposit/Withdraw) |
No | No |
Trading Platforms
| Feature | CMC Markets | Interactive Brokers |
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Proprietary Platform |
Yes | Yes |
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Desktop Platform (Windows) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | No |
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MetaTrader 4 (MT4) |
Yes | No |
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MetaTrader 5 (MT5) |
No | No |
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cTrader |
No | No |
Trading Tools
| Feature | CMC Markets | Interactive Brokers |
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Virtual Trading (Demo) |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watchlists - Total Fields |
8 | 494 |
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Charting - Indicators / Studies (Total) |
79 | 121 |
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Charting - Drawing Tools (Total) |
24 | 9 |
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Charting - Trade From Chart |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | CMC Markets | Interactive Brokers |
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Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Trading - Forex |
Yes | Yes |
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Trading - CFDs |
Yes | Yes |
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Alerts - Basic Fields |
Yes | Yes |
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Watch List |
Yes | Yes |
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Watch List Syncing |
Yes | Yes |
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Charting - Indicators / Studies |
23 | 70 |
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Charting - Draw Trend Lines |
Yes | No |
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Charting - Trend Lines Moveable |
Yes | No |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | Yes |
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Forex Calendar |
Yes | No |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | CMC Markets | Interactive Brokers |
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Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | Yes |
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Weekly Webinars |
Yes | No |
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AutoChartist |
No | No |
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Trading Central (Recognia) |
Yes | Yes |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | No |
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Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | CMC Markets | Interactive Brokers |
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Has Education - Forex |
Yes | Yes |
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Has Education - CFDs |
Yes | Yes |
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Client Webinars |
Yes | Yes |
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Client Webinars (Archived) |
Yes | Yes |
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Videos - Beginner Trading Videos |
Yes | No |
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Videos - Advanced Trading Videos |
Yes | Yes |
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Investor Dictionary (Glossary) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | CMC Markets | Interactive Brokers |
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GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
Yes | Yes |
Overall
| Feature | CMC Markets | Interactive Brokers |
| CMC Markets Review | Interactive Brokers Review | |
| Overall | ||
| Winner | check_circle |
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. CMC Markets received a rating of 5.00 stars over Interactive Brokers's 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both CMC Markets and Interactive Brokers are regulated in a major hub. Both CMC Markets and Interactive Brokers are publicly traded companies. How many currency pairs are available to trade? CMC Markets boasts an offering of 180 different currency pairs compared to Interactive Brokers's 105 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. CMC Markets has Meta Trader, Interactive Brokers doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Interactive Brokers trails CMC Markets by 15 total charting tools, with CMC Markets offering 24 and Interactive Brokers offering 9. CMC Markets trails Interactive Brokers by 42 total different indicators (for example, moving averages), with Interactive Brokers offering 121 and CMC Markets offering 79.
CMC Markets Review
Interactive Brokers Review
Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/15/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
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