Written by ForexBrokers.com
In this head to head comparison of CMC Markets vs IC Markets, 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, established in 1989, stands out as a highly trusted online broker, boasting a Trust Score of 99 according to ForexBrokers.com. This broker is publicly traded and holds five Tier-1 licenses, ensuring a strong regulatory standing, along with one Tier-2 license. While CMC Markets is not a bank, its admirable regulatory compliance and status as a publicly listed company on a stock exchange provide added confidence for investors.
In contrast, IC Markets, founded in 2007, is a privately-owned broker with a Trust Score of 84, indicating a trusted status. Although IC Markets does not operate as a bank or hold any Tier-2 licenses, it maintains two Tier-1 licenses, providing a secure environment for traders. Despite not being publicly traded, its regulatory measures contribute to its credibility within the trading community.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Year Founded | 1989 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing CMC Markets to IC Markets in terms of commissions and fees, both online brokers shine in delivering competitive pricing, but each brings unique elements to the table. CMC Markets consistently ranks at the top, having been awarded the #1 position in our 2025 Annual Awards for Commissions and Fees. With an impressive 5-star rating, CMC Markets stands out due to its competitive spreads, with typical spreads of 0.61 pips on the EUR/USD as of August 2023. Their innovative FX Active program enhances their appeal by charging a $2.50 commission per side alongside spreads as low as zero pips, creating a 0.5 pip all-in cost on the EUR/USD pair.
IC Markets, recognized as Best in Class for Commissions & Fees in our 2024 Annual Awards, also holds a 5-star rating and sits in the #5 position among 62 brokers. Known for competitive pricing, IC Markets offers an average spread of just 0.02 pips on the EUR/USD, with a total cost of 0.62 pips for cTrader accounts and 0.72 pips with MetaTrader. Their commission-based Raw Spread account and the Standard account provide flexibility, the latter being commission-free with a 0.62 pip average spread. The account variations and low entry requirements make IC Markets a formidable contender among low-cost forex brokers.
Ultimately, both CMC Markets and IC Markets deliver impressive trading cost structures designed to cater to a range of investors. While CMC Markets is distinguished for its low spreads and commission-based FX Active pricing, IC Markets captures attention with some of the industry's most attractive effective spreads, particularly appealing for those trading larger volumes. Each broker's offerings are well-suited for traders seeking cost-effective and reliable trading environments.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Average Spread EUR/USD - Standard | 0.61 | 0.62 |
| All-in Cost EUR/USD - Active | 0.51 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| 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.
When comparing CMC Markets and IC Markets in terms of available investments, both cater to forex traders by offering forex trading as both a CFD and spot contract. However, the breadth of options diverges significantly. CMC Markets provides a staggering 11,925 tradeable symbols, with a rich selection of 156 forex pairs. This diversity extends to CMC's support for exchange-traded securities on U.S. and international exchanges, allowing clients to invest directly in giants like Apple and Vodafone. Meanwhile, IC Markets offers 3,583 tradeable symbols and 61 forex pairs. While IC Markets enables trading in international exchange-traded securities such as Vodafone, it does not support U.S. securities trading. Both brokers offer cryptocurrency derivatives and the option for copy trading but do not facilitate the purchase of actual cryptocurrencies.
Overall, CMC Markets stands out with a higher rank and rating for its range of investments, receiving a commendable five-star rating and ranking ninth among 62 brokers as per ForexBrokers.com. In comparison, IC Markets, while still offering a broad array of investment options, is rated at 4.5 stars and is positioned at the 25th spot. Investors who prioritize a wide variety of tradeable symbols and direct access to a mix of U.S. and international markets might favor CMC Markets for its expansive offerings and higher industry ranking.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 11925 | 3583 |
| Forex Pairs (Total) | 156 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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 IC Markets both offer appealing features for traders, yet they cater to different preferences when it comes to trading platforms and tools. CMC Markets provides a rich platform experience with a proprietary platform created in-house, alongside access to widely-used MetaTrader 4 and MetaTrader 5. It supports various trading preferences with a free virtual demo account and features such as copy trading. With 40 drawing tools, CMC Markets excels in charting capabilities, allowing users to customize their trading views extensively. Its strong focus on user experience is evident as it is rated 5 stars by ForexBrokers.com for Trading Platforms and Tools, ranking it fourth among 62 brokers in the category.
On the other hand, IC Markets does not offer a proprietary platform, instead leaning heavily on the established MetaTrader suite — MT4 and MT5 — along with the web-based cTrader. While it offers the same support for simulated trading with a free demo account and includes copy trading, it also provides the added service of ZuluTrade, catering to traders interested in automated strategies. Despite a more modest array of 15 drawing tools for charting and support for seven column fields in watch lists, IC Markets maintains a commendable 4-star rating in the Trading Platforms and Tools category, ranking 16th out of 62 brokers, demonstrating a strong standing in the competitive brokerage landscape.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 79 | 30 |
| Charting - Drawing Tools (Total) | 40 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
CMC Markets and IC Markets both offer their users mobile trading apps compatible with iPhone and Android devices, providing essential features like stock and forex price alerts. However, CMC Markets shines with its comprehensive package that includes watchlist symbol syncing, ensuring seamless integration between your mobile and online trading activities. Both platforms allow trendline drawing and support multiple time frames for chart analysis. When it comes to technical studies, IC Markets has a slight edge with 30 studies compared to CMC Markets' 29. Users of both apps can enjoy the convenience of auto-saving chart drawings and creating watchlists with real-time quotes.
Despite their similarities, CMC Markets outranks IC Markets in user ratings and industry rankings. CMC Markets has achieved an impressive 5-star rating for its mobile trading app, positioning itself at #5 among 62 brokers according to ForexBrokers.com. This contrasts with IC Markets, which holds a 4-star rating and is ranked at #22. Overall, while both apps provide a solid mobile trading experience, CMC Markets gains a competitive edge with its top-tier features and higher user satisfaction scores.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 29 | 30 |
| 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 options, both CMC Markets and IC Markets stand out by offering daily market commentary and forex news sourced from leading providers like Bloomberg and Reuters. The two brokers also provide technical and fundamental analysis tools powered by Autochartist, alongside sentiment-based trading tools that highlight the balance of long and short positions. Furthermore, both CMC Markets and IC Markets feature comprehensive economic calendars to keep traders informed about upcoming global events.
However, these online brokers diverge in a few key areas that can make a difference depending on your research preferences. IC Markets provides additional insights with tools from Trading Central, while CMC Markets lacks this feature. Notably, neither broker offers research tools from Acuity Trading or market insights from TipRanks. As a result of this broader suite of research resources, CMC Markets claims a higher standing, being rated five stars for research and ranked sixth out of 62 brokers by ForexBrokers.com. In contrast, IC Markets is rated four stars and comes in at 23rd place.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| 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 offerings for beginners between CMC Markets and IC Markets, both online brokers provide ample resources with a focus on forex and CFDs education. CMC Markets and IC Markets each offer more than ten educational pieces including articles, videos, and archived webinars, specifically targeted at forex and CFDs. Both brokers have a searchable archive of past webinars and provide at least ten educational videos on trading topics tailored for beginners. Moreover, they each offer a comprehensive investor dictionary that defines over fifty investing terms, which can be a valuable tool for those new to trading.
However, there are distinct differences in their approach to webinars. CMC Markets does not host monthly online educational client webinars, whereas IC Markets ensures these are available to their clients. Despite this, CMC Markets is rated slightly higher with five stars for education compared to IC Markets' four stars. Additionally, CMC Markets is ranked #10 out of 62 brokers for their educational offerings by ForexBrokers.com, while IC Markets is positioned at #16. These distinctions could influence a beginner's decision when choosing a broker based on education resources.
| Feature |
CMC Markets
|
IC Markets
|
|---|---|---|
| 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 IC Markets. CMC Markets finished with an overall rank of #4, while IC Markets finished with an overall rank of #20.
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
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Both CMC Markets and IC Markets do not offer the ability to buy actual delivered cryptocurrency; however, they both provide options for purchasing cryptocurrency derivatives.
CMC Markets and IC Markets both provide diverse options for depositing and withdrawing funds, including PayPal, Visa, Mastercard, and bank wires, but CMC Markets uniquely supports ACH and SEPA transfers, whereas IC Markets offers Skrill as an additional method.
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 | IC Markets | |
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| Trust Score | 99 | 84 | |
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| Review | CMC Markets Review | IC Markets Review |
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| Regulation | CMC Markets | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1989 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | CMC Markets | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| 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 | No | |
| 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 | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | CMC Markets | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 11925 | 3583 | |
| Forex Pairs (Total) | 156 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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 | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.61 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.51 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | CMC Markets | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $200 | |
| 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 | No |
| Trading Platforms | CMC Markets | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | CMC Markets | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 79 | 30 | |
| Charting - Drawing Tools (Total) | 40 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | CMC Markets | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 29 | 30 | |
| 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 | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | CMC Markets | IC Markets | |
|---|---|---|---|
| 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 | IC Markets | |
|---|---|---|---|
| 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 | IC Markets Review |
| Overall | CMC Markets | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | CMC Markets Review | IC Markets Review |
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