IG Markets and CMC Markets share many similarities in their core trading environment. IG Markets remains the leading CFD broker, writes new CFDs if demand exists, and is a liquidity provider for smaller brokers. Traders get the proprietary web-based trading platform, ProRealTime, MT4, and L2 Dealer. IG Markets upgrades the core MT4 with 18 add-ons plus the Autochartist plugin, creating a superior MT4 trading experience.
CMC Markets also features a cutting-edge proprietary web-based trading platform. It includes an automated pattern recognition scanner, a price projection box, and detailed trade analytics. It supports algorithmic trading via the core MT4, where IG Markets also offers API trading.
I have conducted an in-depth review of IG Markets and CMC Markets to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- CMC Markets vs. IG Markets - Verdict
 |  | |
Headquarters | United Kingdom | United Kingdom |
Regulators | FCA | ASIC, BaFin, CySEC, DFSA, FCA, FINMA, FMA, FSCA, JFSA, MAS |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 1989 | 1974 |
Execution Type(s) | Market Maker | Market Maker |
Minimum Deposit | N/A | €0 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, Proprietary platform, Web-based | Other, MetaTrader 4, Proprietary platform, Trading View+ |
Average Trading Cost EUR/USD | 0.6 pips ($6.00) | 0.9 pips |
Average Trading Cost GBP/USD | 0.9 pips ($9.00) | 1.4 pip |
Average Trading Cost WTI Crude Oil | $0.03 | $0.03 |
Average Trading Cost Gold | $0.34 | $0.30 |
Retail Loss Rate | N/A | 70.00% |
Minimum Raw Spreads | N/A | Not applicable |
Minimum Standard Spreads | N/A | 0.6 pips |
Minimum Commission for Forex | N/A | Commission-free |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Noteworthy:
Both brokers offer beginner traders high-quality educational content and in-house market research. The similarities extend to the lack of funding methods at both UK publicly listed brokers.
Available Markets
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
The overall asset selection at IG Markets remains broader, but CMC Markets features industry-leading Forex exposure with 330+ currency pairs. It also takes a minor edge in cryptocurrencies, but neither broker serves the sector well. IG Markets and CMC Markets offer in-depth cross-asset exposure, catering to retail and professional traders alike.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 0.6 pips ($6.00) | 0.9 pips |
Average Trading Cost GBP/USD | 0.9 pips ($9.00) | 1.4 pip |
Average Trading Cost WTI Crude Oil | $0.03 | $0.03 |
Average Trading Cost Gold | $0.34 | $0.30 |
Average Trading Cost Bitcoin | $75.00 | $90 |
Minimum Raw Spreads | N/A | Not applicable |
Minimum Standard Spreads | N/A | 0.6 pips |
Minimum Commission for Forex | N/A | Commission-free |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | N/A | |
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
Both brokers present a commission-free Forex pricing environment, where IG Markets has a minor edge while the commission-based equity cost structure remains identical. Traders get deep liquidity at both brokers, who maintain institutional services. High-volume traders benefit from rebate programs available at IG Markets and CMC Markets.
Security and Trust
| | |
Country of the Regulator | United Arab Emirates, Australia, Canada, Germany, New Zealand, Singapore, United Kingdom | United Arab Emirates, Australia, Bermuda, The Bahamas, Switzerland, Cyprus, Germany, Japan, New Zealand, Singapore, United Kingdom, United States, South Africa |
Name of the Regulator | FCA | ASIC, BaFin, CySEC, DFSA, FCA, FINMA, FMA, FSCA, JFSA, MAS |
Regulatory License Number | 173730, 170627,154814, 238054, 41187, 101320, F002740, Undisclosed but confirmed | 195355, 378/19, 10148759, confirmed, but no regulaary license number, F001780, 41393, 1489, unconfirmed, 220440, 18923, 0509630, 54814 |
Regulatory Tier | 1, 1, 1, 1, 1, 2, 2 | 1, 1, 1, 1, 2, 2, 1, 1, 1, 1, 4 |
| Visit Website | Visit Website 71% of retail spread bet and CFD accounts lose money |
IG Markets and CMC Markets segregate client deposits from corporate funds and offer negative balance protection. They are both publicly listed companies, FTSE 250 constituents, and offer equally secure and trustworthy trading environments with clean track records.
CMC Markets vs IG Markets – Verdict
CMC Markets
Pros | Cons |
|---|---|
| Cutting-edge proprietary trading platform for manual traders | Low leverage for retail traders |
| Excellent asset selection and leading Forex broker with 330+ currency pairs | Limited deposit and withdrawal methods |
| In-depth educational platform for beginner traders and quality research | |
| Publicly listed company with a clean track record and decades of experience |
IG Markets
Pros | Cons |
|---|---|
| Excellent choice of trading platforms and superior asset selection | Limited deposit and withdrawal methods |
| Competitive trading costs with a volume-based cash rebate program | Higher minimum deposit requirement, but within a reasonable demand |
| Outstanding trading environment for algorithmic trading, including API support | |
| Comprehensive educational tools for beginner traders |
Traders will get a cutting-edge trading environment at both brokers. IG Markets maintains an overall edge in trading costs, asset selection, and support for algorithmic trading solutions via its superb choice of trading platforms. CMC Markets excels with its market-leading Forex selection.
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FAQs
Which broker is better than IG?
IG Markets presents an overall high-quality trading environment with which most brokers cannot compete.
Is CMC Markets a good broker?
CMC Markets is a good broker and offers an industry-leading trading environment, especially for Forex traders.
Is IG a good broker?
IG Markets ranks among the most competitive brokers industry-wide, with few competitors able to match its products and services.
Is CMC Markets a market maker?
CMC Markets offers a market maker execution model.