General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.
- CMC Markets
- IC Markets
Tier 1 Regulation
Tier 2 Regulation
Tier 3 Regulation
Deposit and Withdrawal
Costs and Fees
Forex Fixed Spreads
Forex Variable Spreads
Fees on Stocks
Fees on Indices
Fees on Cryptocurrencies
Special Trading Conditions
Available Trading Techniques
CMC Markets vs IC Markets: A Comprehensive Comparison
When it comes to choosing a broker for trading, there are several factors to consider. In this comparison, we will compare two popular brokers – CMC Markets and IC Markets – based on various parameters to help you make an informed decision.
Both CMC Markets and IC Markets are regulated by reputable regulatory bodies, including ASIC and FCA for CMC Markets, and CySEC and ASIC for IC Markets. However, CMC Markets has a higher security rating of 95 compared to IC Markets’ 93.
Both brokers offer unlimited demo accounts. While CMC Markets offers virtual funds of $10,000, IC Markets allows traders to choose the amount (up to $5,000,000). CMC Markets also allows traders to open multiple demo accounts with the same email, whereas IC Markets restores virtual funds only through customer support.
Both brokers offer a variety of account options, including CFD, real stocks, spread betting, and professional accounts for advanced traders. CMC Markets has no minimum deposit requirement, while IC Markets suggests a minimum deposit of $200. CMC Markets offers a wider range of account currencies, while IC Markets supports several local payment methods, such as Union Pay in China and POLi in Australia.
CMC Markets offers copy-social trading directly on their proprietary platform called Next Generation, while IC Markets allows traders to engage in copy trading through third-party platforms like ZuluTrade.
CMC Markets offers a wider range of markets, including forex, commodities, indices, crypto assets, bonds, CFD shares and ETFs, stocks, warrants, and options. On the other hand, IC Markets offers a limited range of markets, including forex, commodities, indices, crypto assets, and stocks.
Both brokers offer variable spreads, with CMC Markets’ spreads starting from 0.7 pips on forex and 0.3 pips on indices, and IC Markets’ spreads starting from 0 pips on forex. CMC Markets charges no brokerage commission on several markets, including the US, UK, Canada, and Japan, and no commission on Aussie shares up to $1,000 per stock per trading day. IC Markets charges a commission of up to $7 per lot traded. IC Markets also charges variable spreads on stocks, while CMC Markets charges no brokerage commission on some stock markets.
CMC Markets offers a proprietary platform for both CFD and real stocks trading, along with the popular MetaTrader 4 (MT4) platform. IC Markets, on the other hand, offers MT4, MT5, and cTrader platforms, but no proprietary platform. IC Markets also offers VPS services and allows traders to engage in algo trading.
Both brokers offer a wide range of educational materials, including webinars, podcasts, ebooks, and trading guides. CMC Markets has a more extensive customer care network, offering easy contact via email, phone, and live chat. IC Markets, on the other hand, offers customer support in over 18 languages.
Overall, CMC Markets and IC Markets are both reputable brokers with their unique strengths and weaknesses. CMC Markets offers a wider range of markets and more account options, making it a good choice for both short-term and long-term investments. IC Markets, on the other hand, has lower spreads and commissions, making it a better option for scalping. Traders should consider their individual trading needs and preferences when choosing between these two brokers.