CMC Markets vs IC Markets Forex Broker Comparison
A head-to-head comparison of CMC Markets and IC Markets across regulation, trading costs, platforms, and editorial scoring.
Score 4.5 / 5
2 bonusesFCA-regulated and LSE-listed with one of the best proprietary platforms in retail FX and CFDs.
VS
Score 4.7 / 5
4 bonusesTrue ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.
Our Verdict
IC Markets winsby 0.2 pts
IC Markets edges ahead with a score of 4.7/5 vs CMC Markets's 4.5/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
IC Markets offers tighter spreads from 0 pips vs 0.7 pips for CMC Markets, reducing trading costs.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for active traders
Recommended
IC Markets has a cost edge: raw/ECN spreads, tighter spreads from 0 pips.
Best for platform choice
It's a tie
Both equally suited
Both brokers offer an equivalent platform selection with similar exclusive and proprietary options.
Best for beginners
Recommended
IC Markets edges out CMC Markets with a higher editorial score (4.7/5 vs 4.5/5), indicating a stronger overall experience for new traders.
CMC Markets vs IC Markets: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.5/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5 | 4.6 / 5 |
Fees & Spreads 30% weight | 4.4 / 5 | 5.0 / 5▲ |
Platforms & Tools 20% weight | 4.5 / 5 | 4.6 / 5▲ |
Customer Support 10% weight | 4.2 / 5 | 4.5 / 5▲ |
| Founded | 1989 | 2007 |
| Headquarters | London, United Kingdom | Sydney, Australia |
| Min deposit | No minimum | $200 |
| Spreads from | 0.7 pips | 0 pips |
| Commission / lot | N/A | $7/lot |
| Max leverage | 30:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA ASIC DFSA BaFin FMA | FSCA ASIC CySEC |
| Platforms | MetaTrader 4 Proprietary Web/Mobile | MetaTrader 4 MetaTrader 5 cTrader TradingView |
| Active bonuses | ||
| Visit broker | Visit CMC Markets | Visit IC Markets |
CMC Markets vs IC Markets Forex Broker Pros & Cons
Pros
FCA-regulated, LSE-listed
Excellent proprietary platform
MT4 also available
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
True ECN routing with raw 0.0 pip spreads
All three major platforms (MT4, MT5, cTrader)
Deep liquidity from 25+ tier-1 sources
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
Inactivity fee after 12 months
No raw spread account option
Cons
Not available to US residents
Higher minimum deposit than IG/OANDA
No proprietary platform
CMC Markets vs IC Markets: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
CMC Markets
criteria win
2
IC Markets
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | CMC Markets | IC Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
CMC Markets vs IC Markets: Frequently Asked Questions
Based on our independent editorial scoring, IC Markets ranks higher with a score of 4.7/5 vs 4.5/5 for CMC Markets. The best choice still depends on your individual trading needs; CMC Markets and IC Markets may each suit different trader profiles.
IC Markets offers tighter spreads starting from 0 pips, compared to CMC Markets's spreads from 0.7 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
CMC Markets has a lower minimum deposit of no minimum required, while IC Markets requires at least $200. This makes CMC Markets more accessible for traders with limited starting capital.
Both CMC Markets and IC Markets hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: CMC Markets has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
CMC Markets offers maximum leverage of 30:1, while IC Markets offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
IC Markets charges $7 per lot on commission-based accounts. Commission details for the other broker are not currently available. Check their website for up-to-date pricing.
CMC Markets supports MetaTrader 4, Proprietary Web/Mobile and IC Markets offers MetaTrader 4, MetaTrader 5, cTrader, TradingView; both support MetaTrader 4; CMC Markets exclusively offers Proprietary Web/Mobile; IC Markets exclusively offers MetaTrader 5, cTrader, TradingView.
Ready to get started?
Open an account directly with the broker that suits you best.
Score 4.5 / 5
More Broker Comparisons
More CMC Markets comparisons
More IC Markets comparisons
Personalised recommendation
Not sure which broker is right for you?
Answer 6 quick questions and we'll match you with the brokers that best fit your trading style, experience level, and country.
Find my broker