Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers and CMC Markets are both prominent in the online brokerage industry, with established reputations and public listings. Founded in 1977, Interactive Brokers is one of the veteran players in the market. CMC Markets, while slightly newer, started operations in 1989. Both of these companies are not banks but have achieved the highest trust score rating of 99 out of 99 by ForexBrokers.com, placing them squarely in the highly trusted category.
When examining regulatory credentials, Interactive Brokers holds an impressive nine Tier-1 licenses, signifying strong regulatory standing, alongside two Tier-2 licenses. CMC Markets, on the other hand, boasts five Tier-1 licenses and one Tier-2 license. These licenses ensure that both brokers adhere to stringent regulatory standards, helping clients trade with confidence. Despite some differences in regulatory specifics, both brokers maintain high standards of trust and reliability according to industry metrics.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Year Founded | 1977 | 1989 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 9 | 5 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Interactive Brokers and CMC Markets both offer competitive commissions and fees, appealing to traders who prioritize cost efficiency. Interactive Brokers is noted for its commission-based structure where forex pricing starts at 0.00002 (0.2 basis points) of the U.S. dollar trade value with a minimum of $2 per order, amounting to approximately 0.40 pips for an example trade of $100,000 worth of EUR/USD. They achieve this by aggregating prices from major interbank forex dealers, ensuring transparency and robust execution. Interactive Brokers is ranked #2 in the Commissions and Fees category by ForexBrokers.com and has been awarded a 5-star rating.
Conversely, CMC Markets stands out in the industry with its award-winning low spread offerings, maintaining consistently competitive pricing for all segments and account types. According to their price data for August 2023, their typical spread for EUR/USD is 0.61 pips. Furthermore, the FX Active pricing structure, available in regions like Southeast Asia and the UK, introduces a commission of $2.50 per side which, combined with zero minimum spreads, leads to a total cost of 0.5 pip for EUR/USD. This transparent pricing model allows CMC Markets to secure the #1 spot in the Commissions and Fees category, again gaining a 5-star rating.
The strong positioning of both brokers in their respective categories highlights their commitment to providing excellent value for traders. Interactive Brokers benefits active traders through volume-based discounts while efficiently managing large order sizes. Similarly, CMC Markets' Price Plus Scheme offers spread discounts based on trading volume, making them an attractive option for high-frequency traders. Whether it is Interactive Brokers aggregating prices for lower commission costs or CMC Markets maintaining low spreads with program incentives, both brokers offer appealing choices depending on individual trading needs.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 0.59 | 0.61 |
| All-in Cost EUR/USD - Active | 0.59 | 0.51 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Both Interactive Brokers and CMC Markets provide a wide array of investment opportunities, catering to diverse trading preferences. Interactive Brokers offers access to 8,500 tradeable symbols, including 90 forex pairs, and supports both CFDs and spot contracts for forex trading. In addition, the platform allows clients to trade exchange-traded securities on U.S. and international exchanges, as well as invest directly in cryptocurrencies or their derivatives, offering extensive versatility for investors. However, Interactive Brokers does not support copy trading, a popular feature for traders who prefer to mimic the trades of experienced investors.
On the other hand, CMC Markets stands out with a broader selection of 11,925 tradeable symbols, featuring 156 forex pairs available through CFDs or spot contracts. Like Interactive Brokers, CMC Markets facilitates trading on U.S. and international exchanges but limits clients to cryptocurrency derivatives, rather than actual cryptocurrencies. A significant advantage for CMC Markets is its copy trading feature, which appeals to traders looking for strategy replication. Both platforms receive top ratings of 5 stars for their range of investments, although Interactive Brokers holds the number one ranking in this category, compared to CMC Markets' ninth place, according to ForexBrokers.com.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 11925 |
| Forex Pairs (Total) | 90 | 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) | Yes | 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.
Interactive Brokers and CMC Markets are both well-regarded online brokers offering a range of trading platforms and tools tailored for diverse trading needs. Both brokers provide proprietary platforms and support Windows-based desktop downloads and web-based platforms. Additionally, they each offer free virtual demo accounts, enabling traders to practice without financial risk. However, Interactive Brokers does not provide copy trading features, whereas CMC Markets does. Furthermore, while CMC Markets supports popular third-party tools like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), Interactive Brokers does not. Neither broker supports DupliTrade or ZuluTrade at present.
In terms of charting tools, Interactive Brokers excels with 85 drawing tools compared to CMC Markets’ 40, and both brokers allow trading directly from stock charts. Moreover, Interactive Brokers offers extensive customization with 659 fields for watchlists, far surpassing the 11 that CMC Markets offers. Both brokers have received a high rating of five stars for their trading platforms and tools. However, Interactive Brokers ranks slightly higher in ForexBrokers.com's evaluation, positioned at #3 among 63 brokers, with CMC Markets closely following at #4.
| Feature |
Interactive Brokers
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 79 |
| Charting - Drawing Tools (Total) | 85 | 40 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 11 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Interactive Brokers and CMC Markets, both offer comprehensive solutions for iPhone and Android users, supporting a seamless transition between mobile and online platforms through watchlist syncing. Each app provides users with the ability to draw trendlines and access multiple time frames on chart views. However, a key difference lies in the number of technical studies available; Interactive Brokers offers 97 studies in its mobile app, while CMC Markets provides 29. Additionally, while CMC Markets' app automatically saves chart drawings, Interactive Brokers requires manual saving. Both platforms allow users to set up alerts for stock and forex prices and offer real-time quote watchlists, making them strong contenders in mobile trading capabilities.
In terms of user ratings, both Interactive Brokers and CMC Markets score a perfect 5 stars for their mobile trading apps. When ranked by ForexBrokers.com among 63 brokers, Interactive Brokers holds the #4 spot, just above CMC Markets, which is ranked at #5. This close competition reflects the high quality and user satisfaction of their apps, offering traders reliable tools and features to manage their investments on the go.
| Feature |
Interactive Brokers
|
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 | 97 | 29 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
For traders seeking detailed market insights, both Interactive Brokers and CMC Markets offer comprehensive research features. They provide daily market commentary and forex news from renowned sources like Bloomberg and Reuters, ensuring traders stay informed with credible information. Furthermore, both brokers feature a sentiment-based tool, allowing users to gauge the market's mood using long or short position data. Additionally, Interactive Brokers and CMC Markets include an economic calendar to keep traders updated on major news events globally. However, when contrasting their technical analysis offerings, Interactive Brokers includes Trading Central tools, while CMC Markets integrates Autochartist resources to assist users in trading strategies.
Interactive Brokers distinguishes itself with exclusive research benefits from providers like TipRanks and Acuity Trading's Signal Centre, which are not available on CMC Markets. This unique access to advanced research tools might be a key factor in Interactive Brokers achieving a higher ranking, placing third among 63 brokers for research according to ForexBrokers.com, compared to CMC Markets' sixth position. Despite these differences, both brokers earn a five-star rating for research, highlighting their commitment to providing valuable resources for their clients.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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 comparing the educational resources offered by Interactive Brokers and CMC Markets, both platforms cater well to beginners interested in forex or CFDs. Interactive Brokers provides a comprehensive selection, surpassing the minimum requirement with more than 10 educational pieces, including articles, videos, and archived webinars focused on the basics of forex and CFDs. CMC Markets also meets the benchmark by offering a similar variety of educational materials for beginners in these areas. Moreover, both brokers serve beginner traders well with at least 10 beginner educational videos, ensuring a well-rounded introduction to trading subjects.
Interactive Brokers stands out with its commitment to ongoing education by offering online client webinars at least once a month, along with a searchable archive of past webinars, making it easier for learners to access knowledge at their convenience. Although CMC Markets provides an archive of recorded webinars, it lacks the regular monthly webinars, which may be a consideration for those who value real-time interaction. Both platforms also supply more advanced educational videos and investor dictionaries, each boasting over 50 investing term definitions. Ultimately, while both brokers receive top ratings for their educational offerings, Interactive Brokers is ranked slightly higher in education categories, securing the third spot compared to CMC Markets' tenth position according to ForexBrokers.com.
| Feature |
Interactive Brokers
|
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 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than CMC Markets. Interactive Brokers finished with an overall rank of #2, while CMC Markets finished with an overall rank of #4.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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CMC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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When comparing Interactive Brokers and CMC Markets, Interactive Brokers stands out by offering the ability to purchase actual delivered cryptocurrency alongside cryptocurrency derivatives, whereas CMC Markets only provides access to cryptocurrency derivatives without the option to buy actual cryptocurrencies.
When comparing online broker deposit and withdrawal options, Interactive Brokers supports ACH, SEPA, and bank wire transfers but does not offer PayPal, Skrill, Visa, or Mastercard, whereas CMC Markets provides a broader range of options, including ACH, SEPA, bank wire transfers, PayPal, Visa, and Mastercard, but not 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 | Interactive Brokers | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | CMC Markets Review |
| Broker Screenshots | Interactive Brokers | CMC Markets | |
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| Regulation | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1977 | 1989 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 5 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | Yes | 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) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 11925 | |
| Forex Pairs (Total) | 90 | 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) | Yes | 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 | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 0.61 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.51 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 11 | |
| Charting - Indicators / Studies (Total) | 155 | 79 | |
| Charting - Drawing Tools (Total) | 85 | 40 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 29 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | CMC Markets Review |
| Overall | Interactive Brokers | CMC Markets | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | CMC Markets Review |
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