Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs IronFX, 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.
When comparing online brokers CMC Markets and IronFX, several factors set them apart. Established in 1989, CMC Markets is a publicly traded platform known for its strong regulatory standing, holding five Tier-1 licenses and one Tier-2 license. This has earned CMC Markets a perfect Trust Score of 99 out of 99 on ForexBrokers.com, highlighting it as a highly trusted broker. Although not a bank, its presence on a stock exchange and extensive regulation credentials make it a resilient choice for traders.
In contrast, IronFX, founded in 2010, is not publicly traded and holds three Tier-1 licenses with no Tier-2 licenses. It boasts a Trust Score of 83, marking it as a trusted broker but with some room for improvement compared to CMC Markets. Both brokers offer secure platforms for trading without being associated with banks, yet CMC Markets has a longer track record and more extensive regulatory oversight, making it a more established option in the trading community.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Year Founded | 1989 | 2010 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
CMC Markets has established itself as a leader in the commission and fee space, securing the #1 spot in our 2025 Annual Awards with a 5-star rating. This recognition stems from its consistently low spread offerings across all customer segments and account types. The average spreads at CMC Markets are competitive, with a typical spread of 0.61 pips on the EUR/USD as per their data from August 2023, which is considered below the industry average. Traders can benefit from the Price Plus Scheme, an active trader program offering discounts on trading costs determined by Trading Points based on your trading volume and market choices. Additionally, their FX Active pricing structure, available in several regions, features a commission-based model with no minimum spreads, leading to a low all-in cost for trading major currency pairs.
In comparison, IronFX falls behind in pricing with a 4-star rating and ranks #47 among 62 brokers in the Commissions and Fees category. The typical spreads on their standard variable spread account are higher than the industry average at 1.8 pips. On their zero fixed-spread account, while spreads start at zero, there's an $18 per lot commission, and spreads widen to 3 pips overnight. These factors highlight that while IronFX offers varied account options, its costs may not be as competitive as other brokers.
In summary, when evaluating the commission and fee structures of online brokers, CMC Markets stands out with its efficient and trader-friendly pricing, whereas IronFX presents a higher cost structure that could impact trading profitability. Investors seeking cost-effective trading solutions might find CMC Markets to be a more attractive option given its leading industry position.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 0.61 | 1.2 |
| All-in Cost EUR/USD - Active | 0.51 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing CMC Markets and IronFX for their available range of investments, it's clear that CMC Markets offers a broader selection to clients. CMC Markets provides access to an impressive 11,925 tradeable symbols, including 156 forex pairs, alongside exchange-traded securities on both U.S. and international exchanges. This gives investors the opportunity to buy shares from numerous global giants such as Apple and Vodafone. On the other hand, IronFX offers a more limited selection, with only 340 tradeable symbols and 83 forex pairs, and does not provide direct access to exchange-traded securities in the U.S. or international markets.
Both CMC Markets and IronFX offer forex trading as CFDs and provide clients the option to trade cryptocurrency derivatives, though neither allows the purchase of actual cryptocurrencies. They also have copy trading features available for users. However, for a range of investments, CMC Markets stands out with its higher rating of 5 stars compared to IronFX's 3.5 stars. According to ForexBrokers.com, CMC Markets ranks 9th out of 62 brokers in the Range of Investments category, whereas IronFX is placed at 51st, highlighting the broader investment options available through CMC Markets.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 340 |
| Forex Pairs (Total) | 156 | 83 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | 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 CMC Markets and IronFX, both brokers offer simulated trading options with free virtual demo accounts, allowing users to practice and hone their strategies. CMC Markets stands out with its proprietary platform, a key differentiator from IronFX, which does not offer an in-house developed platform. Additionally, both brokers provide Windows-based desktop download and web-based trading platforms, as well as access to the popular MetaTrader 4. However, CMC Markets goes a step further by also supporting MetaTrader 5, unlike IronFX. With copy trading available on both platforms, traders have a variety of choices to suit their trading styles. Despite neither broker offering DupliTrade or ZuluTrade, CMC Markets excels in charting features with 40 drawing tools compared to IronFX's 15 and supports trading directly from a stock chart, a feature shared with IronFX.
CMC Markets offers a well-rounded package for traders with 11 columns for watch lists, whereas IronFX trails behind with just seven. Consequently, CMC Markets receives a stellar five-star rating for its trading platforms and tools, while IronFX is rated at 3.5 stars. According to ForexBrokers.com, CMC Markets ranks 4th out of 62 brokers in the Trading Platforms and Tools category, marking its excellence and reliability. Conversely, IronFX occupies the 60th position in the same category, indicating room for improvement and a significant gap in platform performance and trader satisfaction compared to CMC Markets.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 79 | 30 |
| Charting - Drawing Tools (Total) | 40 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of CMC Markets and IronFX, both brokers have offerings available for iPhone and Android users. They also provide essential features like stock and forex price alerts and the ability to view multiple time frames on charts. Users can create watchlists with real-time quotes on both platforms. However, a notable distinction is in watchlist symbol syncing—CMC Markets allows seamless syncing of watchlists with the online account, while IronFX does not offer this feature.
In terms of technical studies for charting, IronFX slightly edges out with 30 studies compared to CMC Markets' 29. Both apps support drawing trendlines and auto-saving these drawings on charts. User ratings and rankings reflect a significant difference in user satisfaction: CMC Markets holds a perfect 5-star rating and ranks 5th out of 62 brokers for mobile trading apps on ForexBrokers.com. In contrast, IronFX has a rating of 3.5 stars and ranks 61st. This highlights CMC Markets as a more favored choice for traders seeking a comprehensive mobile trading experience.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of CMC Markets and IronFX, both brokers provide daily market commentary and top-tier forex news from sources like Bloomberg and Reuters. CMC Markets sets itself apart by providing tools from Autochartist, which gives users advanced technical and fundamental analysis capabilities. Conversely, IronFX offers research tools from Trading Central, catering to traders seeking specific technical analytics. Notably, CMC Markets includes a sentiment-based trading tool for a clearer view of market trends, which is absent from IronFX's offerings.
Both brokers offer an economic calendar that highlights global news events, aiding in strategic decision-making. In terms of overall research quality, CMC Markets earns a higher rating of 5 stars, ranking 6th among 62 brokers on ForexBrokers.com, while IronFX has a solid 4-star rating and ranks 28th. This suggests that while both firms provide valuable insights, CMC Markets may be more appealing for traders seeking comprehensive research tools, particularly in sentiment analysis and advanced technical indicators.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing CMC Markets and IronFX for educational resources, both brokers offer a wealth of materials focusing on forex and CFDs, with each providing over 10 educational pieces such as articles, videos, or archived webinars. Beginners will find plenty to learn from, as both companies supply a series of educational videos tailored to those new to trading. While neither provider holds monthly live client webinars, they do offer searchable archives of past sessions for learners who prefer on-demand access.
CMC Markets stands out with a comprehensive library, including advanced educational videos for more seasoned traders. Both CMC Markets and IronFX provide an investor dictionary with over 50 definitions, helping ease newcomers into the trading jargon. In terms of educational ratings, CMC Markets receives a top score of 5 stars from ForexBrokers.com, ranking 10th out of 62 brokers, whereas IronFX earns a solid 4 stars, placing 44th. Overall, CMC Markets seems to present a more complete educational package for those starting and advancing in trading.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 CMC Markets is better than IronFX. CMC Markets finished with an overall rank of #4, while IronFX finished with an overall rank of #48.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both CMC Markets and IronFX do not provide the option to buy actual (delivered) cryptocurrency but offer the ability to purchase cryptocurrency derivatives.
CMC Markets provides more versatile funding options compared to IronFX, including ACH and SEPA transfers and PayPal, while both offer Visa or Mastercard and bank wires; however, only IronFX supports 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 | CMC Markets | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | CMC Markets Review |
| Broker Screenshots | CMC Markets | IronFX | |
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| Regulation | CMC Markets | IronFX | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1989 | 2010 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 340 | |
| Forex Pairs (Total) | 156 | 83 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | 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 | CMC Markets | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.51 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | CMC Markets | IronFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 79 | 30 | |
| Charting - Drawing Tools (Total) | 40 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | CMC Markets | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | CMC Markets | IronFX | |
|---|---|---|---|
| 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 | CMC Markets Review |
| Overall | CMC Markets | IronFX | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | CMC Markets Review |
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