CMC Markets vs FOREX.com Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare CMC Markets vs FOREX.com.
Can I trust CMC Markets?
CMC Markets has a trust score of 99, giving it a "Highly Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust FOREX.com?
FOREX.com has a trust score of 99, giving it a "Highly Trusted" trust label.
Is CMC Markets a good broker?
CMC Markets is a highly trusted multi-asset broker that features excellent pricing and a huge selection of markets on its powerful Next Generation proprietary trading platform (available for web and mobile), alongside high-quality research and educational materials.
Is FOREX.com a good broker?
FOREX.com, part of the StoneX Group, is a trusted brand with a long history of offering forex in the U.S. and internationally. CFD markets are available within its proprietary platform, though fewer are available on MetaTrader. While great for active traders, FOREX.com's pricing is not its best feature. Overall, the broker is a great, well-balanced choice – regardless of your experience level.
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. CMC Markets is Australia (ASIC Authorised), Canada (CIRO Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and United Kingdom (U.K.) (FCA Authorised), while FOREX.com is Canada (CIRO Authorised), Japan (SFC Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized).. Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland) and Switzerland (FINMA Authorised)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, CMC Markets is UAE (DFSA/Central Bank Authorised), while FOREX.com is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses CMC Markets is none, while FOREX.com is Cayman Islands (CIMA Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).
Which broker offers more trading platforms?
Both CMC Markets and FOREX.com offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does CMC Markets offer MetaTrader? Does FOREX.com offer MetaTrader?
For MetaTrader CMC Markets provides MetaTrader 4 (MT4), while FOREX.com provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do CMC Markets and FOREX.com differ in terms of minimum deposit? What about average spreads and funding options?
CMC Markets requires a minimum deposit of $0, while FOREX.com requires a minimum deposit of $100. From our testing we found CMC Markets offers spreads of 0.51, while FOREX.com offers spreads of 1.0. Both CMC Markets and FOREX.com offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for deposits.. Neither have Skrill (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, CMC Markets or FOREX.com?
CMC Markets offers a more diverse selection of investment options than FOREX.com allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, CMC Markets has 12377, compared to 5500 from FOREX.com.
Can I trade cryptocurrency with CMC Markets or FOREX.com?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither CMC Markets nor FOREX.com allow you to trade physical cryptocurrencies.
Who offers more research tools, CMC Markets or FOREX.com?
In terms of research and research tools CMC Markets gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison FOREX.com has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia).
Overall winner: CMC Markets
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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.