CMC Markets vs Forex.com: Comparison and Analysis

CMC Markets vs Forex.com: A Comprehensive Comparison Summary

Security

CMC Markets is regulated by ASIC, FCA, MAS, FMA, and IIROC, while Forex.com is regulated by CySEC, FCA, ASIC, JFSA, MAS, HKSFC, CIMA, IIROC, NFA, and CFTC. Both brokers have high-security ratings, with CMC Markets rated at 95 and Forex.com rated at 95.

Winner: Tie

Demo Accounts

CMC Markets offers a demo account with unlimited duration and virtual funds of $10,000. You can open multiple CMC Markets demo accounts with the same email. Forex.com provides a demo account with a duration of 30 days and virtual funds of $10,000. The Forex.com demo account virtual funds can be restored by contacting customer support.

Winner: CMC Markets

Account Opening

CMC Markets has no minimum deposit requirement, and they offer account currencies in GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK, and SGD. Payment methods accepted by CMC Markets include wire transfers, credit/debit cards, and eWallets. They offer a range of account options, including CFD account, Stockbroking account, Spread betting account, FX active account, Corporate account, and Professional account for advanced traders.

Forex.com has a minimum deposit requirement of $100, and they offer account currencies in USD, EUR, and GBP. Payment methods accepted by Forex.com include wire transfers, credit/debit cards, and eWallets (PayPal only). They offer various account types to cater to different trading needs.

Winner: CMC Markets

Social-Copy Trading

CMC Markets offers copy-social trading directly on their CFD proprietary platform called Next Generation. Forex.com does not offer social-copy trading.

Winner: CMC Markets

Markets

CMC Markets provides access to a wide range of markets, including Forex (338), Commodities (110+), Indices (82), Crypto assets (124), Bonds (55), CFD shares and ETFs (12,500+), and Stocks, ETFs, warrants, options (35,000+). They offer both CFD and real stocks, making them suitable for both short-term and long-term investments. Forex.com offers markets in Forex (80), Commodities (12), Indices (18), Crypto assets (80), Stocks (220+), and Futures and Options (1). They primarily focus on CFD trading, making them more suitable for short-term trading and price speculation.

Winner: CMC Markets

Trading Fees

CMC Markets offers variable spreads starting from 0.7 pips on forex and from 0.3 pips on indices, which is below the market average. They also offer $0 brokerage commission on real stocks in certain markets. Forex.com offers variable spreads starting from 0.2 pips on forex, which is lower than the market average. However, the spreads may vary depending on the trader’s country.

Winner: Tie

Platforms

CMC Markets provides a proprietary platform for both CFD and real stocks trading, available via web and mobile devices. They also offer the popular MetaTrader 4 (MT4) platform. Forex.com provides a user-friendly proprietary platform available via web and mobile devices, along with MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

Winner: Tie

Education/Customer Care

CMC Markets provides clients with access to webinars, an ebook, podcasts, video trading, and trading guides for educational purposes. They offer easy contact options via email, phone, and live chat. Forex.com offers detailed guides, tutorials, and technical analysis courses for education. They also provide easy contact options via email, phone, and live chat, but their customer care is available only in English and Chinese.

Winner: Tie

Conclusion

In conclusion, CMC Markets and Forex.com have their respective strengths and weaknesses. CMC Markets takes the lead in terms of demo account duration, account opening, social-copy trading, market coverage, and overall market access. However, Forex.com offers competitive trading fees, a user-friendly platform with a wide range of tools, and detailed educational resources.

Considering the overall comparison, CMC Markets emerges as the preferred choice for traders seeking a broker with a wide range of markets, unlimited demo account duration, and a user-friendly platform. However, individual preferences and trading needs may vary, so it’s important to consider specific requirements before making a final decision.

Winner: CMC Markets