CMC Markets vs Interactive Brokers Review

To find the top fx brokers, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare CMC Markets vs Interactive Brokers.

To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. CMC Markets's score is 5.00 stars versus Interactive Brokers's 4.00 stars.

Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both CMC Markets and Interactive Brokers are regulated in a major hub. Both CMC Markets and Interactive Brokers are publicly traded companies. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. CMC Markets offers its clients access to 183 different currency pairs while Interactive Brokers has 85 available pairs, a difference of 98.

To round out our comparison of CMC Markets vs Interactive Brokers, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. CMC Markets nor Interactive Brokers offers Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. CMC Markets offers its clients access to 24 charting tools while Interactive Brokers has 9 charting tools, a difference of 15. Interactive Brokers boasts an offering of 121 different indicators (for example, moving averages) compared to CMC Markets's 74 available indicators.

Overall, both CMC Markets and Interactive Brokers share a rating of 4.50 stars. And, when it comes to individual category awards, CMC Markets finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Active Trading and Best in Class - Mobile Trading in 2018, while Interactive Brokers came up with none of these.