IC Markets vs CMC Markets

vs
IC Markets vs CMC Markets Comparison Table 2024
IC Markets CMC Markets
4.8
4.7

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.

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.
Customer Reviews
4
4.5
Comment by Reviewer
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders." "With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "
Pros
  • IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
  • The web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) is also supported.
  • CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha and Price+ schemes also offer perks for active traders with up to 40% discounts on spreads.
  • CMC Markets is heavily regulated by reputable financial authorities and maintains its stellar reputation, helping to ensure a secure and trustworthy trading environment.
  • The brokerage continues to stand out with its wide range of value-add resources, including pattern recognition scanners, webinars, tutorials, news feeds, and research from respected sources like Morningstar.
Cons
  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
  • Despite improvements, the web platform still requires enhancements to make it as intuitive to trade on as software from rivals like IG.
  • While CMC offers an above-average suite of assets, there is no support for trading real stocks and UK clients can’t trade cryptocurrencies.
  • Trading stock CFDs incurs a relatively high commission, especially compared to the cheapest brokers like IC Markets.
  • An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
  • The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
Awards
  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com
  • 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
CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$200 $0
Trading Platforms
  • MT4
  • MT5
  • cTrader
  • TradingView
  • TradingCentral
  • DupliTrade
  • Web
  • MT4
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, FSA FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
Margin Trading
Yes Yes
Margin Rate
1%
STP Account
No No
ECN Account
Yes No
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS & Android
App Review

IC Markets deliver mobile apps for their cTrader, MT4, MT5 and TradingView  platforms. They have been developed on Android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. Yet what really stands out is how they’ve managed to maintain the lightning-fast execution speed IC Markets is known for, right within the apps. It’s a seamless trading experience that feels both professional and highly responsive.

The award-winning app from CMC Markets has transformed mobile trading. The app’s modern and customizable interface offers a unique user experience, distinct from competitors. Moreover, with its comprehensive charting capabilities featuring 25 technical indicators and 15 drawing tools, as well as its fast and stable trading environment, it’s an exceptional choice for day traders.

Android App Rating
4.2
3.7
iOS App Rating
3.1
4.1
Auto Trading
Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
Launched in February 2023, the IC Social app offers an intuitive way to learn, share, and mirror the positions of other traders with just a few clicks. Additionally, the app features risk management tools and supports dedicated trading groups. Alternatively, IC Markets grants access to Signal Start, along with well-known third-party copy trading platforms including ZuluTrade and cTrader Copy.
Social Trading
Yes Yes
Trade Signals
Signal Start Yes
VPS Hosting
Yes Yes
Tournaments
No No
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$0 $10
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • JPY
  • CHF
  • HKD
  • SGD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • SEK
  • NOK
  • SGD
  • PLN
Stock Exchanges
Commodities
CFD Trading
You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike. CMC lets you trade CFDs on 12,000+ assets across currencies, indices, commodities, shares, ETFs and treasuries. Spreads are relatively tight, there are no hidden fees and the industry-leading MetaTrader 4 platform is also supported for leveraged trading. Year after year, CMC shines as one of the best CFD brokers in the market.
Leverage
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (Retail), 1:500 (Pro)
FTSE Spread
1.0 1 pt
GBPUSD Spread
0.23 0.9
Oil Spread
0.03 3.5
Stocks Spread
0.02 0.02
Forex Trading
IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot. CMC presents an extensive array of 300+ forex pairs characterized by tight spreads and rapid executions, surpassing the offerings of many competitors in terms of currency diversity. Forex indices also present a fairly unique and holistic way to speculate on the value of key currencies like the USD, EUR and GBP.
Forex App

IC Markets deliver mobile apps for both their cTrader and MT5 platforms. Both have been developed on android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. The speed of execution synonymous with IC Markets is retained across their apps.

GBPUSD Spread
0.23 0.9
EURUSD Spread
0.02 0.7
EURGBP Spread
0.27 1.1
Assets
75 300+
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
Cryptocurrency
IC Markets offers 20+ cryptocurrencies which are tradable via CFDs, including lesser-known tokens such as Avalanche, Kusama and Uniswap. Commission-free trading is available, and experienced crypto traders can access high leverage up to 1:200 in the MetaTrader platforms. CMC Markets offers trading on popular digital tokens like Bitcoin but really stands out for its crypto indices that provide broader exposure to the cryptocurrency market. There is also minimal slippage and an excellent 99.9% fill rate, making CMC a great option for active crypto day traders.
Spread
BTC 42.036 From 1.3
Coins
  • BTC
  • BCH
  • DOT
  • DSH
  • EMC
  • EOS
  • ETH
  • LNK
  • LTC
  • NMC
  • PPC
  • XLM
  • XRP
  • ADA
  • BNB
  • DOG
  • UNI
  • XTZ
  • 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
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.