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Interactive Brokers vs CMC Markets 2023

BrokerNotes.co

Written by BrokerNotes.co

March 14, 2023

Trying to decide between Interactive Brokers and CMC Markets? 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, Interactive Brokers ranks more highly than CMC Markets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Compare

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Overall Rating Interactive Brokers CMC Markets
Overall Rating 9.7 / 10 9.6 / 10
Account Type Interactive Brokers CMC Markets
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 No Yes
Islamic Account info No No
Copy Trading Interactive Brokers CMC Markets
Social Trading / Copy Trading info No Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency Interactive Brokers CMC Markets
Cryptocurrency (Physical) info Yes No
Cryptocurrency (CFD) No Yes
Bitcoin info Yes Yes
ethereum info No Yes
Forex Trading (Spot or CFDs) Interactive Brokers CMC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) Interactive Brokers CMC Markets
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 Interactive Brokers CMC Markets
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info No Yes
Social Trading / Copy Trading info No Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info Yes Yes
U.S. Stocks (CFD) info Yes Yes
Trading Platforms Interactive Brokers CMC Markets
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 No Yes
MetaTrader 5 (MT5) info No No
Regulatory Licenses Interactive Brokers CMC Markets
Tier-1 Licenses info 8 5
Australia (ASIC Authorised) info Yes Yes
Canada (SRO Authorised) info Yes Yes
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
Hong Kong (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes Yes
Switzerland (FINMA Authorised) info No No
USA (CFTC Authorized) info Yes No
Tier-2 Licenses info 1 1
Tier-3 Licenses info 0 0
Research, Education Interactive Brokers CMC Markets
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No Yes
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes Yes
Trading Costs Interactive Brokers CMC Markets
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 0.6 info 0.51 info
All-in Cost EUR/USD - Active info 0.6 info 0.51 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info No Yes
PayPal (Deposit/Withdraw) info No Yes
Trading Tools Interactive Brokers CMC Markets
Watchlists - Total Fields info 640 9
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 128 84
Mobile Charting - Indicators / Studies info 97 29
Trust Factors Interactive Brokers CMC Markets
Year Founded info 1977 1989
Publicly Traded (Listed) info Yes Yes
Bank info No No
European Union Authorised (MiFID) info Yes info Yes info
Trust Score info 99 99
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Interactive Brokers vs CMC Markets 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 Interactive Brokers vs CMC Markets.

Can I trust Interactive Brokers?

Interactive Brokers 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 CMC Markets?

CMC Markets has a trust score of 99, giving it a "Highly Trusted" trust label.

Is Interactive Brokers a good broker?

Interactive Brokers is a long-standing and highly-trusted broker that holds numerous regulatory licenses across the globe. We've rated IBKR as the best broker for professional traders, and it provides traders with access to over 100 markets, including forex and CFDs. IBKR's recently introduced web-based platform caters well to beginners, and its powerful research and extensive educational content makes for a balanced experience for newcomers and professionals alike.

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.

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. Interactive Brokers is Australia (ASIC Authorised), Canada (SRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized), while CMC Markets is Australia (ASIC Authorised), Canada (SRO Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have 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, Interactive Brokers is India (SEBI Authorised), while CMC Markets is UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), Cyprus (CySEC Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses unfortunately, neither Interactive Brokers nor CMC Markets are Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Both Interactive Brokers and CMC Markets offer a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade

Does Interactive Brokers offer MetaTrader? Does CMC Markets offer MetaTrader?

For MetaTrader Interactive Brokers provides neither of these, while CMC Markets provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 5 (MT5)

How do Interactive Brokers and CMC Markets differ in terms of minimum deposit? What about average spreads and funding options?

Interactive Brokers requires a minimum deposit of $0, while CMC Markets requires a minimum deposit of $0. From our testing we found Interactive Brokers offers spreads of 0.6, while CMC Markets offers spreads of 0.51. Interactive Brokers supports Bank Wire (Deposit/Withdraw) for popular funding options, where CMC Markets supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw).. Neither have Skrill (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, Interactive Brokers or CMC Markets?

Interactive Brokers offers a more diverse selection of investment options than CMC Markets allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Looking at total tradeable symbols, Interactive Brokers has 8500, compared to 12377 from CMC Markets.

Can I trade cryptocurrency with Interactive Brokers or CMC Markets?

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 Interactive Brokers nor CMC Markets allow you to trade physical cryptocurrencies.

Who offers more research tools, Interactive Brokers or CMC Markets?

In terms of research and research tools Interactive Brokers gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Trading Central (Recognia). In comparison CMC Markets has the tools listed here: Autochartist, 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.

Interactive Brokers Review

CMC Markets Review

Overall winner: Interactive Brokers

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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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