Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs FOREX.com, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% 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.
Both CMC Markets and FOREX.com are highly respected online brokers with top-tier trust scores, each earning a perfect rating of 99 from ForexBrokers.com. Founded in 1989, CMC Markets boasts a long-standing presence in the financial industry and is publicly traded, though it is not a bank. It holds five Tier-1 licenses, reflecting a high level of regulatory trust, and one Tier-2 license. FOREX.com, established in 1999, also maintains a public trading status without being a bank, and it surpasses CMC Markets with seven Tier-1 licenses, alongside one Tier-2 license.
Both brokers demonstrate strong regulatory compliance, making them trustworthy choices for online trading. Their public trading status and acquisition of multiple Tier-1 licenses highlight their commitment to transparency and security. Each broker offers a reliable platform backed by years of experience and regulatory oversight, providing traders with confidence in their financial transactions and investments.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Year Founded | 1989 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 5 | 7 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
CMC Markets is celebrated for its competitive commission and fee structure, achieving a top rating of 5 stars and securing the #1 spot in ForexBrokers.com's Commissions and Fees category. The company is particularly appreciated for its attractive spread offerings, having an average spread of just 0.61 pips on the EUR/USD as of August 2023. CMC Markets enhances cost efficiency further with the Price Plus Scheme, an active trader program allowing discounts based on Trading Points. Another noteworthy feature is FX Active, a commission-based plan that extends zero-pip minimum spreads at a commission of $2.50 per side. Overall, the all-inclusive cost for trading EUR/USD with FX Active comes to about 0.5 pips, reinforcing CMC Markets' status as a leader in cost-effective trading.
On the other hand, FOREX.com is rated slightly lower, with a 4.5-star ranking and positioned 13th among 62 brokers by ForexBrokers.com. While FOREX.com offers multiple execution methods and account types, the costs can be on the higher side compared to the industry standard. For traders in the U.S., its Standard account comes with relatively high average spreads of 1.4 pips on the EUR/USD. FOREX.com introduced the RAW account, offering competitive spreads of 0.13 pips; however, a commission of $7 per Standard lot increases overall costs. Volume-based rebates are available for active traders, with potential discounts up to $9 per million on the highest tier, offering some cost relief for high-volume traders.
In summary, CMC Markets stands out with its low spreads and innovative pricing structures offering substantial cost benefits across different trading volumes and types. Meanwhile, FOREX.com appeals to those who prioritize platform variety and trading features but would potentially incur higher trading costs unless trading in high volumes. Ultimately, both brokers serve their distinct client segments effectively, yet CMC Markets offers a more attractive deal for cost-conscious traders.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.61 | 1.4 |
| All-in Cost EUR/USD - Active | 0.51 | 0.9 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets and FOREX.com both cater to forex enthusiasts, providing options for forex trading either as CFDs or spot contracts. While both platforms excel in forex trading, CMC Markets distinguishes itself with an impressive array of 11,925 tradeable symbols, including 156 forex pairs. In comparison, FOREX.com offers 5,500 tradeable symbols, with 91 forex pairs to choose from. Notably, CMC Markets users have the unique opportunity to invest in exchange-traded securities across both U.S. and international exchanges, a feature not available on FOREX.com.
Despite CMC Markets offering copy trading services, which are not available on FOREX.com, both brokers allow investing in cryptocurrency derivatives rather than actual cryptocurrencies. Ratings from experts reflect the high caliber of both platforms in the range of investments category, with each earning a five-star rating. CMC Markets ranks ninth, while FOREX.com slightly edges ahead, securing the seventh position among 62 brokers according to ForexBrokers.com.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 5500 |
| Forex Pairs (Total) | 156 | 91 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
Both CMC Markets and FOREX.com provide a versatile trading experience with their proprietary platforms, supporting a variety of trading approaches. These brokers cater to tech-savvy traders offering both Windows-based desktop downloads and convenient web-based platforms. Simulated trading via virtual demo accounts is available with both, allowing traders to hone their skills without financial risk. CMC Markets stands out with its copy trading feature, a capability not available on FOREX.com. Additionally, both brokers support the popular MetaTrader 4 and 5 platforms, enabling traders to leverage their familiarity with these widely used tools.
Charting enthusiasts have different strengths to explore between the two platforms; while FOREX.com boasts a remarkable 239 drawing tools, CMC Markets provides a solid set of 40. In terms of watch list customization, FOREX.com offers 20 columns compared to CMC Markets' 11. Both brokers allow trading directly from stock charts, enhancing convenience and efficiency. CMC Markets has a slight edge in platform ranking, positioned at #4 by ForexBrokers.com compared to FOREX.com's #7. Despite these differences, both brokers achieve a perfect five-star rating for their trading platforms and tools, showcasing their high standards in this competitive field.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 79 | 88 |
| Charting - Drawing Tools (Total) | 40 | 239 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 20 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and FOREX.com both offer high-quality mobile trading apps compatible with iPhone and Android devices, making them convenient options for traders on the go. Both platforms provide valuable features such as stock and forex price alerts, symbol syncing across devices, and the ability to draw trendlines on charts, enhancing the trading experience. Traders from both platforms can create watchlists with real-time quotes and have their drawing chart features auto-saved, adding further ease and accessibility. Each app allows users to view multiple time frames for detailed chart analysis, whether looking at daily, weekly, or intraday data.
When it comes to technical studies, FOREX.com provides 88 options in its app, suggesting a broader range of analysis tools compared to CMC Markets' 29 studies. Both apps are highly rated, each receiving a perfect 5-star rating for their mobile trading capabilities. However, in a ranking by ForexBrokers.com, FOREX.com secures a higher position at #3 out of 62 brokers, while CMC Markets ranks at #5. Both apps offer a powerful mobile trading experience, but FOREX.com's additional technical studies and higher ranking might hold appeal for traders seeking a more diverse analytical toolkit.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 88 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both CMC Markets and FOREX.com provide daily market commentaries and offer forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones. However, when it comes to specialized research tools, CMC Markets utilizes Autochartist for technical and fundamental research, while FOREX.com opts for Trading Central's tools, providing a diversified research approach. Both platforms include sentiment-based trading tools that display a ratio of long or short positions across various instruments, ensuring traders have a good sense of market trends. Despite not offering research tools from companies like TipRanks or Acuity Trading, both brokers maintain a valuable economic calendar to keep users informed of global news events affecting the markets.
In terms of research ratings, CMC Markets earns a slightly higher score of 5 stars compared to FOREX.com's 4.5 stars. As ranked by ForexBrokers.com, CMC Markets stands at #6 among 62 brokers for their research offerings, while FOREX.com ranks at #9. This reflects CMC Markets’ slight edge in research capabilities. Despite minor differences, both brokers provide comprehensive market insights and tools to aid traders in making informed decisions.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available to beginners between CMC Markets and FOREX.com, both online brokers offer a strong foundation with a variety of learning materials. CMC Markets provides a minimum of 10 educational articles, videos, and archived webinars focusing on forex and CFDs, while also offering more than 10 beginner-focused videos and advanced videos for experienced traders. The platform includes a searchable archive of past webinars and an extensive investor dictionary with over 50 investing terms. Although CMC Markets lacks monthly live webinars, its education resources earn it a commendable 5-star rating.
FOREX.com also meets the criteria of providing at least 10 educational pieces in the form of articles, videos, and archived webinars on forex and CFDs, along with a similar range of beginner and advanced video content. The platform excels by offering monthly live educational webinars, a feature not found in CMC Markets. Like its competitor, FOREX.com has a searchable archive of previously recorded webinars and a detailed investor dictionary. This comprehensive approach to education gives FOREX.com a solid 4.5-star rating. Despite having a slightly lower star rating, FOREX.com holds a higher position in educational ranking at #4 compared to CMC Markets at #10, according to ForexBrokers.com.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that CMC Markets is better than FOREX.com. CMC Markets finished with an overall rank of #4, while FOREX.com finished with an overall rank of #5.
CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12,000 tradeable instruments.
| Feature |
CMC Markets
|
FOREX.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 99 |
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Neither CMC Markets nor FOREX.com offers the ability to buy actual delivered cryptocurrency; however, both platforms provide options for trading cryptocurrency derivatives, making them suitable choices for those interested in derivatives over direct cryptocurrency ownership.
Both CMC Markets and FOREX.com support a variety of funding methods, including ACH or SEPA transfers, PayPal, Visa and Mastercard, and bank wires, but neither offer Skrill for deposit or withdrawal.
Please note:
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.
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0 of 5| Overall Rating | CMC Markets | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FOREX.com Review |
| Broker Screenshots | CMC Markets | FOREX.com | |
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| Regulation | CMC Markets | FOREX.com | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1989 | 1999 | |
| Publicly Traded (Listed) | Yes | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 7 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | FOREX.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | FOREX.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | FOREX.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 5500 | |
| Forex Pairs (Total) | 156 | 91 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | CMC Markets | FOREX.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 1.4 | |
| All-in Cost EUR/USD - Active | 0.51 | 0.9 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | FOREX.com | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | CMC Markets | FOREX.com | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | CMC Markets | FOREX.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 20 | |
| Charting - Indicators / Studies (Total) | 79 | 88 | |
| Charting - Drawing Tools (Total) | 40 | 239 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | FOREX.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 29 | 88 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | CMC Markets | FOREX.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | FOREX.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | CMC Markets | FOREX.com | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | CMC Markets Review | FOREX.com Review |
| Overall | CMC Markets | FOREX.com | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FOREX.com Review |
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