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 are both top-rated brokers, each earning a 5-star rating for their competitive commissions and fees. Interactive Brokers is ranked #2 out of 62 brokers by ForexBrokers.com for its pricing structure. It offers forex trading with commissions starting at 0.00002 of the U.S. dollar trade value, with a minimum of $2 per order, leading to an effective spread of 0.59 pips for the EUR/USD pair. The broker aggregates prices from 17 major interbank forex dealers, providing discounts for active traders who meet specific monthly trading volumes.
CMC Markets, the #1 ranked broker for commissions and fees, stands out for consistently low spreads available to all customers. It provides typical spreads of 0.61 pips on the EUR/USD and has a competitive pricing structure known as FX Active. This structure sets commission fees at $2.50 per side, resulting in a 0.5 pip all-in cost for popular currency pairs like the EUR/USD. CMC Markets also offers a Price Plus Scheme, rewarding traders with discounts based on their collected Trading Points, thereby reducing their overall trading costs.
While both brokers offer appealing pricing models, Interactive Brokers offers greater customization for active traders, with discounts based on trading volume. On the other hand, CMC Markets focuses on low-cost access across all account types, further enhanced by their FX Active pricing strategy, which recently solidified their position as a leader in commission-based forex trading. Both brokers deliver exceptional value, but your specific trading style and volume will determine which broker best fits your 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.
Interactive Brokers and CMC Markets are both top-rated online brokers providing access to a wide array of investment options. Interactive Brokers offers 8,500 tradeable symbols including exchange-traded securities from both U.S. and international markets, allowing investors to own shares in companies like Apple and Vodafone. It also provides 90 forex pairs available as CFDs or spot contracts, and stands out by offering the ability to buy actual cryptocurrencies in addition to derivatives. CMC Markets, on the other hand, presents a striking lineup with 11,925 tradeable symbols and 156 forex pairs available as CFDs or spot contracts. Like Interactive Brokers, CMC Markets also offers exchange-traded securities on both U.S. and international exchanges. Although CMC Markets does not offer the ability to buy actual cryptocurrencies, it does provide crypto derivatives. Notably, CMC Markets supports copy trading, which Interactive Brokers does not offer.
When it comes to ratings and rankings, both brokers excel in the range of investments. They each receive five stars in this category, showcasing their comprehensive offerings. However, Financial site ForexBrokers.com ranks Interactive Brokers as the number one broker out of 62 for range of investments, while CMC Markets holds a strong position at number nine. Therefore, while both brokers are highly regarded, Interactive Brokers takes the lead in this ranked comparison, likely due to its extensive offering of actual cryptocurrencies and a top-tier ranking. CMC Markets, with a larger pool of tradeable symbols and support for copy trading, presents a formidable option for diverse trading needs.
| 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.
When comparing the trading platforms and tools of Interactive Brokers and CMC Markets, both offer a range of features to cater to various trading needs. Each broker provides a proprietary trading platform, accessible via Windows-based desktop apps and web browsers, ensuring flexibility and convenience for users. They both offer free virtual demo accounts for practice trading. While CMC Markets supports popular third-party platforms such as MetaTrader 4 and 5 and includes copy trading, Interactive Brokers does not support these features. However, Interactive Brokers stands out with an extensive selection of 85 charting drawing tools and a substantial 659 columns for watch lists, which can be particularly beneficial for traders who demand detailed analytical capabilities.
Interactive Brokers and CMC Markets receive equal acclaim, being rated at five stars for their trading platforms and tools. However, in a ranking of 62 brokers by ForexBrokers.com, Interactive Brokers is positioned slightly higher at #3, while CMC Markets follows closely at #4. Despite some differences, both brokers support trading directly from stock charts. In summary, both Interactive Brokers and CMC Markets offer sophisticated trading environments, with CMC Markets providing broader third-party integration and Interactive Brokers excelling in charting tools and watch list customization.
| 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.
Interactive Brokers and CMC Markets both offer impressive mobile trading apps available on iPhone and Android devices. Both platforms provide features like stock and forex price alerts, real-time watchlist syncing with online accounts, and the ability to view multiple time frames on charts. While both apps have the ability to draw trendlines on charts, CMC Markets holds an edge with automatic saving of drawing selections, a feature absent in Interactive Brokers' app. When it comes to technical studies in their charting capabilities, Interactive Brokers offers a formidable 97 studies compared to CMC Markets' 29.
In terms of recognition, both Interactive Brokers and CMC Markets shine with 5-star ratings for their mobile trading apps. According to ForexBrokers.com, out of 62 brokers, Interactive Brokers is ranked slightly higher at #4 compared to CMC Markets at #5. Ultimately, both apps deliver rich experiences for traders on the move, ensuring essential features are covered, and offering strong ratings in the competitive world of mobile trading platforms.
| 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.
Interactive Brokers and CMC Markets both excel in providing comprehensive market research, but there are key differences in their offerings. Both brokers deliver daily market commentary and reliable forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Interactive Brokers outshines with a broader variety of research tools, offering market insights from TipRanks and Acuity Trading, which are not available with CMC Markets. On the other hand, CMC Markets collaborates with Autochartist for technical analysis, a feature lacking in Interactive Brokers' lineup. Both platforms provide powerful sentiment-based trading tools and detailed economic calendars, ensuring users are well-informed about global market events.
When it comes to technical analysis tools, Interactive Brokers leverages Trading Central, whereas CMC Markets does not incorporate this resource. Both brokers boast top-rated research capabilities, each earning five stars for research quality. However, Interactive Brokers edges ahead in industry rankings, holding the #3 spot compared to CMC Markets' #6 position, as evaluated by ForexBrokers.com among 62 brokers. Thus, while both platforms offer valuable research tools, Interactive Brokers provides a slightly more comprehensive package for thorough market analysis.
| 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 it comes to providing educational resources for beginners, both Interactive Brokers and CMC Markets have a lot to offer. Both platforms supply over ten pieces of educational content focused on forex and CFDs, including articles, videos, and archived webinars. They also maintain searchable archives of past webinars, ensuring that learners can access valuable insights whenever they want. Additionally, both brokers provide at least ten educational videos dedicated to beginners, helping new traders get up to speed with essential trading topics. They extend their educational reach by offering advanced videos for experienced traders as well. An investor dictionary with more than 50 terms is available from each broker, aiding in the understanding of jargon and technical language.
Interactive Brokers stands out for hosting monthly online educational webinars, a feature not offered by CMC Markets. This added value is likely a contributor to Interactive Brokers' higher education ranking, as recognized by ForexBrokers.com, where they are placed 3rd out of 62 brokers in the education category, compared to CMC Markets' 10th position. Despite this difference in rankings, both brokers boast a perfect five-star rating for their educational offerings, making them excellent choices for traders looking to learn and grow in the financial markets.
| 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 62 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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