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CMC Markets vs FxPro 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between CMC Markets and FxPro? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, CMC Markets ranks more highly than FxPro.

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Compare

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Overall Rating CMC Markets FxPro
Overall Rating 9.6 / 10 8.1 / 10
Account Type CMC Markets FxPro
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No Yes
Copy Trading CMC Markets FxPro
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency CMC Markets FxPro
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) CMC Markets FxPro
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) CMC Markets FxPro
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments CMC Markets FxPro
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes Yes
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms CMC Markets FxPro
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
Regulatory Licenses CMC Markets FxPro
Tier-1 Licenses info 5 2
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info Yes No
European Union Authorised (MiFID) info Yes info Yes info
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Research, Education CMC Markets FxPro
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info Yes No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs CMC Markets FxPro
Minimum Deposit info $0 $100
Average Spread EUR/USD - Standard info 0.51 info 1.51 info
All-in Cost EUR/USD - Active info 0.51 info 1.27 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes Yes
Trading Tools CMC Markets FxPro
Watchlists - Total Fields info 11 19
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 79 76
Mobile Charting - Indicators / Studies info 29 65
Trust Factors CMC Markets FxPro
Year Founded info 1989 2006
Publicly Traded (Listed) info Yes No
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 99 90
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CMC Markets vs FxPro 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 FxPro.

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 โ€“ in most cases โ€“ 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 โ€œDo Not Trustโ€ rating.

Can I trust FxPro?

FxPro has a trust score of 90, giving it a "Highly Trusted" trust label.

Is CMC Markets a good broker?

CMC Markets is a highly trusted multi-asset broker regulated in multiple Tier-1 jurisdictions, with an overall Trust Score rating of 99. CMC's powerful Next Generation proprietary trading platform (available for web and mobile) delivers a huge selection of tradeable markets wrapped in a fantastic user experience. Traders at CMC Markets also gain access to MetaTrader 4, and forex traders in Australia can use the CMC Markets Invest app for exchange-traded equities. CMC Markets is a great choice for traders looking for high-quality research, good educational content, powerful trading tools, and low-cost forex trading.

Is FxPro a good broker?

FxPro is a trusted brand that delivers access to a wide range of trading platforms, including cTrader, the full MetaTrader platform suite (including MetaTrader 5), and its proprietary FxPro Edge and BnkPro apps. Algorithmic traders will appreciate FxPro's execution methods and pricing options. That said, spreads and overall costs at FxPro are higher than what you'd find with the best forex brokers in the industry.

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 FxPro is United Kingdom (U.K.) (FCA Authorised).. Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

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 FxPro is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses CMC Markets is none, while FxPro is Bahamas (SCB Authorised).. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

For trading platforms CMC Markets supports a Proprietary Platform and Desktop Platform (Windows), whereas FxPro supports a Proprietary Platform, Desktop Platform (Windows) and cTrader.. Neither have DupliTrade and ZuluTrade

Does CMC Markets offer MetaTrader? Does FxPro offer MetaTrader?

For MetaTrader CMC Markets provides MetaTrader 4 (MT4), while FxPro 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 FxPro differ in terms of minimum deposit? What about average spreads and funding options?

CMC Markets requires a minimum deposit of $0, while FxPro requires a minimum deposit of $100. From our testing we found CMC Markets offers spreads of 0.51, while FxPro offers spreads of 1.51. CMC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where FxPro supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw).

Which broker offers more tradeable asset classes, CMC Markets or FxPro?

CMC Markets offers a more diverse selection of investment options than FxPro 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 12074, compared to 2249 from FxPro.

Can I trade cryptocurrency with CMC Markets or FxPro?

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 โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither CMC Markets nor FxPro allow you to trade physical cryptocurrencies.

Who offers more research tools, CMC Markets or FxPro?

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 FxPro has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

Broker Reviews

Still looking for more information, read our broker reviews.

CMC Markets Review

FxPro Review

Overall winner: CMC Markets

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announcementPlease note:

We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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.

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