Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs FXCM, 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.
CMC Markets, founded in 1989, is a publicly traded online broker with a stellar reputation, reflected in its top Trust Score of 99 from ForexBrokers.com. This high rating signifies a high level of trust, bolstered by its five Tier-1 licenses recognized as highly trusted. Although not a bank, CMC Markets' strong regulatory standing supports its credibility and reliability in the trading industry. In addition, it holds one Tier-2 license, which is also valued by regulators and investors.
On the other hand, FXCM, established in 1999, is also a publicly traded entity that holds a respectable Trust Score of 95, indicating a trusted status. FXCM has secured four Tier-1 licenses, affirming its trustworthy standing among traders. Like CMC Markets, FXCM is not a bank, but it maintains a solid regulatory framework with two Tier-2 licenses, providing an additional layer of confidence for users. This comparison highlights both brokers as reputable choices, with CMC Markets edging out slightly due to its higher trust score and regulatory licenses.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Year Founded | 1989 | 1999 |
| Publicly Traded (Listed) | Yes | Yes |
| Bank | No | No |
| Tier-1 Licenses | 5 | 4 |
| Tier-2 Licenses | 1 | 2 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 0 |
CMC Markets triumphs as a top choice for traders seeking low-cost solutions, backed by its #1 ranking in the Commissions and Fees category from ForexBrokers.com. Praised for its competitive pricing, CMC Markets features an average spread of 0.61 pips on the EUR/USD, offering traders a significant advantage. The broker's innovative Price Plus Scheme rewards high-volume traders with discounts, potentially reducing trading costs by 20% with their active trader program. With FX Active, traders benefit from highly competitive commission-based pricing, leading to an effective cost of 0.5 pips on select currency pairs, enhancing CMC Markets' reputation as a pricing leader.
FXCM, ranked #24 by ForexBrokers.com, maintains a slightly higher pricing model above the industry average, earning a respectable 4-star rating. The broker's standard account spread on the EUR/USD averages 0.78 pips for its EU, U.K., and Australia offerings, while its St. Vincent and the Grenadines entity marks slightly higher at 1.38 pips. For those on commission-based accounts, a lower average spread of 0.28 pips, excluding commissions, is available. However, active traders may avail of FXCM's Active Trader Rebate Program to gain substantial discounts, though overall pricing remains less competitive than some market alternatives.
While both brokers offer active trader programs, CMC Markets' superior commission-based pricing and lower spreads make it the preferred choice for cost-effective trading. FXCM offers opportunities for rebates and discounts under its active trader scheme, but it generally trails behind industry leaders in pricing efficiency. Overall, for investors placing a premium on low-fee structures, CMC Markets stands out with a 5-star rating, while FXCM offers a competent alternative with a 4-star rating.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Minimum Deposit | $0 | Starts from $50 |
| Average Spread EUR/USD - Standard | 0.61 | 0.78 |
| All-in Cost EUR/USD - Active | 0.51 | 0.78 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
CMC Markets and FXCM both provide forex trading through CFDs or spot contracts, catering to traders interested in currency exchange markets. However, when it comes to the variety of investment offerings, CMC Markets takes the lead with a staggering 11,925 tradeable symbols, dwarfing FXCM's 440. In the realm of forex pairs, CMC Markets offers 156 options compared to FXCM's 43, giving forex traders at CMC Markets a broader range of choices. Additionally, CMC Markets stands out by offering exchange-traded securities on both U.S. and international exchanges, allowing investors to purchase actual shares in companies like Apple or Vodafone, a service FXCM does not provide. Both platforms support copy trading and offer cryptocurrency derivatives but do not permit buying actual cryptocurrencies.
In terms of overall investment range, CMC Markets is rated highly with a perfect 5-star score and ranks 9th out of 62 brokers on ForexBrokers.com. This is in contrast to FXCM, which holds a 3.5-star rating and ranks 47th in the same category. These metrics highlight CMC Markets' extensive investment options, making it more appealing for those seeking a wide array of trading opportunities, from forex to stock exchanges worldwide. On the other hand, FXCM may suit those who prefer a more focused selection but desire similar features such as forex trading and cryptocurrency derivatives.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 440 |
| Forex Pairs (Total) | 156 | 43 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| 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.
CMC Markets and FXCM both cater to traders looking for comprehensive online trading platforms with an array of tools. Both brokers provide simulated trading through free virtual demo accounts and offer their proprietary platforms, alongside MetaTrader 4. They also support Windows-based desktop and web-based trading platforms for easy access. While CMC Markets incorporates MetaTrader 5, FXCM focuses on ZuluTrade for copy trading enthusiasts. CMC Markets stands out with a higher count of drawing tools for charting, offering 40 compared to FXCM's 10, and provides users with the ability to trade directly from stock charts. For watch lists, FXCM offers 13 columns compared to CMC Markets' 11. In terms of technical support, both platforms share an equal star rating of five out of five.
In terms of industry standing, CMC Markets holds a slight edge over FXCM in the Trading Platforms and Tools category, ranking #4 according to ForexBrokers.com among 62 brokers, whereas FXCM ranks #6. This minor difference in ranking might influence traders seeking highly-rated platforms, although both brokers are well-regarded for their innovative solutions and easy-to-use interfaces. Ultimately, prospective users should consider their specific trading needs, such as the preference for MetaTrader 5 or ZuluTrade, and the importance of advanced charting tools and customizable watch lists when deciding between CMC Markets and FXCM.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 79 | 115 |
| Charting - Drawing Tools (Total) | 40 | 10 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 13 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between CMC Markets and FXCM for mobile trading, both platforms offer apps for iPhone and Android devices, ensuring you can trade on the go. They both provide essential features like stock and forex price alerts, trendline drawing capabilities, multiple time frame views, and auto-saving drawings. Users can create watchlists with real-time quotes, and any changes made sync seamlessly across the mobile app and online account. However, FXCM's mobile platform offers more technical studies for charting, with 59 compared to CMC Markets' 29, providing advanced traders with more analytical tools at their fingertips.
Despite the additional technical studies, CMC Markets receives higher user satisfaction for its mobile trading experience, earning a top rating of 5 stars versus FXCM's 4.5 stars. According to ForexBrokers.com, CMC Markets ranks #5 out of 62 brokers in the Mobile Trading Apps category, while FXCM sits at #16, reflecting broader user approval and expert analysis. Whether it's the feature-rich yet comprehensively praised CMC Markets app or the deeply analytical FXCM app, both platforms offer powerful mobile trading solutions for traders of all levels.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 29 | 59 |
| 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.
When it comes to market research, both CMC Markets and FXCM provide daily market commentary and forex news from well-known sources like Bloomberg and Reuters. A key distinction, however, lies in their research tools; CMC Markets features Autochartist, offering a suite of technical analysis and fundamental research tools, while FXCM does not. On the other hand, FXCM utilizes Trading Central's resources for technical analysis, a feature not available with CMC Markets. Both brokers offer sentiment-based trading tools that help traders understand the ratio of long to short positions across various instruments. Additionally, both platforms provide an economic calendar for tracking significant global events, aiding traders in making informed decisions.
CMC Markets does not include market research services from TipRanks, which FXCM does integrate into its offerings. Neither broker provides tools from Acuity Trading. While both received high ratings, CMC Markets edges out with a five-star rating for research, compared to FXCM's 4.5 stars. According to ForexBrokers.com, CMC Markets is ranked sixth out of 62 brokers in the research category, while FXCM holds the eleventh position. For traders prioritizing comprehensive analysis tools and a top-tier rating, CMC Markets might be the preferred choice, though FXCM offers distinct advantages with its integration of Trading Central and TipRanks resources.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| 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 | Yes |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at CMC Markets and FXCM, both online brokers demonstrate a commitment to providing a wealth of information. CMC Markets excels with a vast collection of resources, offering over 10 educational pieces, including articles, videos, and webinars focused on forex and CFDs. They provide a searchable archive of past webinars, in addition to a well-rounded selection of videos tailored for both beginners and advanced traders. With an investor dictionary containing definitions for more than 50 investing terms, CMC Markets is rated 5 stars for Education, securing the #10 position among 62 brokers in the Education category.
FXCM also boasts a comprehensive suite of educational offerings with over 10 pieces focused on forex and CFDs. Unlike CMC Markets, FXCM provides monthly live educational webinars, granting traders the opportunity to engage directly with tutors. They, too, offer a searchable archive of webinars and a robust collection of videos for beginners and more experienced traders alike. Additionally, FXCM features an investor dictionary with an extensive list of terms. Rated 4.5 stars for Education by ForexBrokers.com and positioned at #14 out of 62 brokers, FXCM provides a reliable learning environment for novice traders seeking to deepen their trading knowledge.
| Feature |
CMC Markets
|
FXCM
|
|---|---|---|
| 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 FXCM. CMC Markets finished with an overall rank of #4, while FXCM finished with an overall rank of #15.
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
|
FXCM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 95 |
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Both CMC Markets and FXCM do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.
Both CMC Markets and FXCM provide ACH and SEPA transfers, PayPal, Visa and Mastercard, and bank wires for depositing or withdrawing funds; however, unlike CMC Markets, FXCM also offers Skrill as an additional option.
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 | FXCM | |
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| Trust Score | 99 | 95 | |
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| Review | CMC Markets Review | FXCM Review |
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| Regulation | CMC Markets | FXCM | |
|---|---|---|---|
| Trust Score | 99 | 95 | |
| 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 | 4 | |
| Tier-2 Licenses | 1 | 2 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 0 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | FXCM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | CMC Markets | FXCM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | FXCM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 440 | |
| Forex Pairs (Total) | 156 | 43 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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 | FXCM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 0.78 | |
| All-in Cost EUR/USD - Active | 0.51 | 0.78 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | FXCM | |
|---|---|---|---|
| Minimum Deposit | $0 | Starts from $50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | CMC Markets | FXCM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | CMC Markets | FXCM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 13 | |
| Charting - Indicators / Studies (Total) | 79 | 115 | |
| Charting - Drawing Tools (Total) | 40 | 10 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | FXCM | |
|---|---|---|---|
| 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 | 59 | |
| 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 | FXCM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | FXCM | |
|---|---|---|---|
| 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 | FXCM | |
|---|---|---|---|
| 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 | FXCM Review |
| Overall | CMC Markets | FXCM | |
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| Trust Score | 99 | 95 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | FXCM Review |
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