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 (founded 1977) and CMC Markets (founded 1989) are online brokers that are publicly traded and not banks. Both earn a 99/99 ForexBrokers.com Trust Score, and scores from 90–99 are considered highly trusted—signaling top-tier safety and strong oversight for clients.
In terms of regulation, Interactive Brokers holds 8 Tier‑1 licenses and 2 Tier‑2 licenses, while CMC Markets holds 6 Tier‑1 and 1 Tier‑2. Tier‑1 licenses are viewed as highly trusted and Tier‑2 as trusted, so both firms are well regulated, with Interactive Brokers offering a broader set of top‑tier approvals worldwide.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Year Founded | 1977 | 1989 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 8 | 6 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
Interactive Brokers and CMC Markets both earn 5 stars for Commissions and Fees. In our rankings, Interactive Brokers places #2 out of 63 brokers, while CMC Markets ranks #4 out of 63. Each broker targets low trading costs, but they get there in different ways: Interactive Brokers charges a small commission on top of raw interbank pricing, whereas CMC Markets offers tight spreads with the option of commission-based FX pricing for even lower all-in costs.
Interactive Brokers does not publish average spreads, but Q3 2024 data shows the EUR/USD at 0.19 pips, or about 0.59 pips all-in after commission. Forex commissions start at 0.00002 of the USD trade value per side (minimum $2 per order, or $4 round trip), which equates to roughly 0.40 pips in commission for a $100,000 EUR/USD trade. Because of the $2 minimum per side, trading less than a standard lot becomes proportionally pricier. Commissions generally run $16–$40 per million round turn ($8–$20 per side), with volume discounts that can reduce the minimum charge to $1.50 per order above $1 billion in monthly volume, and to $1 at $5 billion.
CMC Markets’ typical EUR/USD spread is 0.61 pips (August 2023 data). Its FX Active plan charges $2.50 per side on top of near‑zero spreads, delivering a 0.5‑pip all‑in cost on EUR/USD and several other major pairs, available on both MT4 and Next Generation in selected regions. For frequent traders, the Price Plus scheme can lower costs further via spread discounts tied to monthly Trading Points, though the higher tiers require significant volume. In short, CMC’s FX Active can edge out Interactive Brokers’ all‑in costs on key pairs, while IBKR’s commission model can be particularly attractive for larger, standard‑lot and above orders.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average spread (EUR/USD) - Standard account | 0.226 | 1.3 |
| All-in Cost EUR/USD - Active | 0.226 | 0.65 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and CMC Markets both cover a wide range of investments. Each offers forex trading as CFDs or spot. CMC lists 12,029 tradeable symbols and 141 forex pairs, while Interactive Brokers offers 8,500 symbols and 90 pairs. Both let you buy exchange-traded stocks on U.S. and international exchanges, so you can invest directly in companies like Apple or Vodafone. Where they differ is crypto: Interactive Brokers lets you buy actual cryptocurrency, whereas CMC Markets limits crypto to CFDs and does not offer delivered coins.
If you want social features, CMC Markets supports copy trading while Interactive Brokers does not. Despite both earning a 5-star rating for Range of Investments, ForexBrokers.com ranks Interactive Brokers #1 out of 63 brokers in this category, with CMC Markets at #9. In short, choose CMC if you prioritize more symbols, more forex pairs, and copy trading; choose Interactive Brokers if you want access to real crypto along with top-ranked, broad market access.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 12029 |
| Forex Pairs (Total) | 90 | 141 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | No | 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 vs. CMC Markets: both brokers deliver top-tier trading platforms and tools, each earning 5 stars. You’ll get free paper trading at both, along with in-house platforms, a Windows desktop download, and a web-based platform. Each also lets you place orders directly from charts, making trade execution quick and visual.
The key differences come down to platform choice and extras. CMC Markets supports copy trading and offers MetaTrader 4 and MetaTrader 5, while Interactive Brokers does not. By contrast, Interactive Brokers shines in overall platform strength, ranking #2 for Trading Platforms and Tools out of 63 brokers at ForexBrokers.com, compared with CMC Markets at #6. Choose Interactive Brokers if you want a powerful in-house desktop and web suite; pick CMC Markets if you value copy trading and the MetaTrader ecosystem.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 155 | 73 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and CMC Markets both offer full-featured mobile trading apps for iPhone and Android. Each app supports price alerts and watchlist syncing with your online account, so changes carry over across devices. Both platforms let you draw trendlines on charts. In ForexBrokers.com’s Mobile Trading Apps category, both earn 5 stars, with Interactive Brokers ranked #4 out of 63 brokers and CMC Markets ranked #5.
The key difference is chart depth and workflow. Interactive Brokers provides 155 technical studies in its mobile charting, ideal if you rely on many indicators. CMC Markets offers 29 studies but adds auto-saving for chart drawings, which Interactive Brokers lacks. Choose Interactive Brokers if you want a wide range of technical indicators, or CMC Markets if you prefer the convenience of drawings that save automatically while still having alerts and synced watchlists.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 155 | 29 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | 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 (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Interactive Brokers and CMC Markets both deliver five-star education for beginners, with large libraries that cover forex and CFDs. Each broker offers at least 10 beginner videos and 10 advanced videos, making it easy to learn the basics and move into more complex strategies. That said, Interactive Brokers is ranked #1 for Education out of 63 brokers by ForexBrokers.com, while CMC Markets sits at #10.
The biggest difference is live learning. Interactive Brokers runs online client webinars at least once a month, giving beginners regular opportunities to ask questions and learn in real time. CMC Markets does not offer a monthly webinar schedule, so its strength is self-paced lessons and on-demand videos. If you want frequent live sessions, choose Interactive Brokers; if you prefer to study on your own time, CMC Markets is a strong alternative.
| Feature |
Interactive Brokers
|
CMC Markets
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 #5.
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
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|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Interactive Brokers allows buying actual (delivered) cryptocurrency but not cryptocurrency CFDs, while CMC Markets offers cryptocurrency CFDs but does not support purchasing actual (delivered) crypto.
In a payment-method comparison for depositing or withdrawing funds, both Interactive Brokers and CMC Markets support ACH/SEPA and bank wires, only CMC Markets offers PayPal, neither supports Skrill, and Visa/Mastercard availability is not specified.
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 | 8 | 6 | |
| 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 (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| 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) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) |
| Investments | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 12029 | |
| Forex Pairs (Total) | 90 | 141 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | No | 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 account | 0.226 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.226 | 0.65 | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 155 | 73 | |
| 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 Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 155 | 29 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Interactive Brokers | CMC Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| 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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