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.

Headquarters
United KingdomUnited Kingdom
Regulators
FCAFCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
19891974
Execution Type(s)
Market MakerMarket Maker
Minimum Deposit
N/A300€
Negative Balance Protection
N/A
Trading Platform(s)
MetaTrader 4, Proprietary platform, Web-basedMetaTrader 4, Proprietary platform
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/AUndisclosed
Minimum Raw Spreads
N/ANot applicable
Minimum Standard Spreads
N/A0.8 pips
Minimum Commission for Forex
N/ACommission-free
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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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
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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
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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/ANot applicable
Minimum Standard Spreads
N/A0.8 pips
Minimum Commission for Forex
N/ACommission-free
Deposit Fee
N/A
Withdrawal Fee
N/A
Inactivity Fee
N/A$12 per month after 24 months
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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 KingdomAustralia, Bermuda, Switzerland, Cyprus, Germany, Japan, New Zealand, Singapore, United States
Name of the Regulator
FCAFCA
Regulatory License Number
173730, 170627,154814, 238054, 41187, 101320, F002740, Undisclosed but confirmed195355, 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, 2N/A
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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 tradersLow leverage for retail traders
Excellent asset selection and leading Forex broker with 330+ currency pairsLimited 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 selectionLimited deposit and withdrawal methods
Competitive trading costs with a volume-based cash rebate programHigher 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.

You might also be interested in reviewing the below broker comparisons:

FAQs

Which broker is better than IG?

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IG Markets presents an overall high-quality trading environment with which most brokers cannot compete.

Is CMC Markets a good broker?

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CMC Markets is a good broker and offers an industry-leading trading environment, especially for Forex traders.

Is IG a good broker?

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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?

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CMC Markets offers a market maker execution model.