CloseOption vs CMC Markets

CloseOption vs CMC Markets Comparison Table 2023
CloseOption CMC Markets
3.8

CloseOption is #6 in our binary options broker rankings.

4.7
United States Flag Traders from US accepted
United States Flag Traders from US not accepted

CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software.

CMC Markets is a trustworthy brand authorized by tier-one regulators including the FCA and ASIC. Advanced trading tools, excellent market research and low fees help the broker stand out from rivals. The no minimum deposit, free demo account and social trading service have also made CMC Markets popular with aspiring traders.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Bonus Offer
$10 Welcome Gift
Promotions

CloseOption Runs Weekly Trading Contest With $3K Prize Pot

Comment by Reviewer
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses." "CMC Markets is a great option for active traders with thousands of instruments, spreads from 0.0 pips and an award-winning trading platform."
Pros
  • New traders can get started with a $5 minimum deposit
  • CloseOption offers weekly trading tournaments with cash prizes
  • The user-friendly platform is compatible with most web browsers
  • Multiple global payment methods are available
  • Free demo account
  • Easy to use proprietary platform with intuitive features including a pattern recognition scanner and 40+ indicators and drawing tools
  • Transparent pricing model with lower spreads than alternatives and no deposit or withdrawal fees
  • Comprehensive suite of market research tools and analyst insights to help make informed trading decisions
  • CMC Alpha loyalty scheme with great perks for high-volume traders including premium support and 5% to 28.6% discounts on spreads
  • A hugely respected broker listed on the London Stock Exchange with 300,000+ clients
  • Responsive and knowledgeable support team available 24/5 to help new traders get started quickly
Cons
  • Clients need to deposit $50,000+ to qualify for the best payouts
  • CloseOption is not regulated by a well-regarded trading authority
  • Binary options are only available on fiat and digital currencies
  • A $10 monthly inactivity fee that kicks in after 12 months of no activity
  • Spread betting is only available in the UK
  • US clients are not accepted
Awards
  • Best Trading App 2023 - DayTrading.com
  • No.1 Platform Technology 2022
  • No.1 New Tool 2022
  • No.1 Most Currency Pairs 2022
  • Best Trade Execution 2021
  • Best Forex Broker For Beginners 2021
  • Most Transparent Forex Broker Europe 2020
  • Best Trading Platform 2020
  • Best Trading App 2019
  • Best Customer Service 2018
Instruments
Binary Options on Forex & Cryptos CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$5 $0
Trading Platforms
  • Own
  • MT4
Payment Methods
Minimum Trade
$1 0.01 Lots
Regulator
National Bank of Georgia FCA, ASIC, MAS, CIRO
Margin Trading
No Yes
Margin Rate
1%
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No No
Mobile Apps
iOS & Android
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No Yes
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
Yes Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
0.5% $10
Islamic Account
No Yes
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
  • AUD
  • SEK
  • PLN
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered CMC Markets offers leveraged CFDs on an extensive list of 12,000+ instruments with transparent pricing, powerful trading software and ultra-fast execution speeds. Out-of-hours trading on CFD indices is also available, plus 24/5 award-winning customer support.
Leverage
1:30 (Retail), 1:500 (Pro)
FTSE Spread
1 pt
GBPUSD Spread
0.9
Oil Spread
3.5
Stocks Spread
0.02
Forex Trading
CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD. CMC Markets offers a superb list of 330+ forex pairs with tight spreads and ultra-fast executions. The selection of currencies is significantly wider than rivals.
Forex App

CMC Markets deliver an award-winning app, compatible with most major mobile and tablet operating systems. Trade more than 9300 assets via the app on their Next Generation platform. Includes advanced charting with 12 chart types and 40 technical indicators.

GBPUSD Spread
No fee - payouts approx. 80% (Copper) 0.9
EURUSD Spread
No fee - payouts approx. 80% (Copper) 0.7
EURGBP Spread
No fee - payouts approx. 80% (Copper) 1.1
Assets
20+ 330+
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
Cryptocurrency
CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals. CMC Markets offers trading on popular digital tokens and crypto indices for broader exposure to the market. There is minimal slippage and an excellent 99.9% fill rate.
Spread
No fee - payouts approx. 40% (Copper) from 1.3
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XBT
  • BTC
  • BCH
  • ETH
  • LTC
  • EOS
  • TRON
  • NEO
  • ADA
  • XLM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
CloseOption offers binary options trading on 30+ fiat and digital currencies through an easy-to-use web-based platform. 15 contract timeframes are available from 30 seconds to 1 month, suiting both short-term and long-term traders. New users also get a joining gift. Binary options trading not offered
Payout
95%
Expiry Times
30 seconds - 1 month
Ladder Options
No No
Boundary Options
No No
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
More Comparisons
CloseOption
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CMC Markets
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