Interactive Brokers and CMC Markets are top online brokers with impressive trading experiences. Interactive Brokers is a trustworthy broker with licenses from the IIROC, SFC, FSA, MAS, FINMA, FCA, and CFTC. It offers competitive fees with a minimum deposit of $0. We recommend it for professionals, as it offers industry-leading trading tools and platforms.
CMC Markets is a safe online broker with licenses from the IIROC, MAS, FCA, and ASIC. It has an active trader discount for professional traders. CMC Markets provides access to many learning and research tools. It is a good fit for new traders because of its powerful learning center.
This article discusses the strengths and weaknesses of Interactive Brokers and CMC Markets.
| Broker Name | Interactive Brokers | CMC Markets |
| Year Founded | 1978 | 1989 |
| Regulation | SEC (USA), FCA (UK) | FCA, FSCS |
| Tradable Assets | Stock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured Products | Forex, CFD |
| Min Deposit | $0 | $0 |
| Min Trade | $0 | |
| Platforms | Traders Workstation (TWS) | Next Generation (desktop), Mobile |
| Deposit | You can open account without deposit | Free of charge |
| Withdrawals | Free of charge for the first withdrawal in calendar month | Free of charge |
Top findings from the Interactive Brokers vs. CMC Markets review:
- Interactive Brokers offers a professional trading experience with premium tools and platforms.
- CMC Markets offers a versatile portfolio and a reliable learning center for beginners.
- Both brokers have a demo account, an active trader discount, and a $0 minimum deposit.
We recommend Interactive Brokers for professionals, as it has access to many premium tools. CMC Markets is an excellent choice for new traders because of its dedicated learning center.
Overall Rating
| Feature | Interactive Brokers | CMC Markets |
|---|---|---|
| Overall | 4.5 | 5 |
| Commissions & Fees | 4.5 | 5 |
| Offering of Investments | 5 | 5 |
| Platforms & Tools | 4.5 | 5 |
| Mobile Trading | 4 | 5 |
| Research | 4.5 | 5 |
| Education | 4 | 4 |
| Trust Score | 94 | 99 |
| Winner | YES | |
| 66% of retail CFD accounts lose money | 67% of retail CFD accounts lose money |
Level of experience
Interactive Brokers offers Trading Central and forex news. It has some educational tools, including webinars and investor dictionaries. This broker is a top choice for professionals, as it offers many advanced tools.
CMC Markets offers market data from third-party sources, including Morningstar. It has in-house analysts who offer insights through its web interface. CMC Markets has an impressive learning center with real-time news, webinars, and forex education. It is a good fit for new traders.
Fees
Both brokers have a minimum initial deposit of $0. They follow a transparent fee policy and provide an active trader discount.
Assets
CMC Markets has 158 forex currency pairs, while Interactive Brokers offers 105 pairs. CMC Markets provides access to 9852 CFDs, while Interactive Brokers has 7400 available CFDs.
Trading platform
Interactive Brokers has an excellent trading experience with desktop and web platforms. It offers access to some educational materials, including professional trading videos. We recommend it for advanced traders, as it has premium platforms and tools.
CMC Markets provides a proprietary platform, Next Generation, and MetaTrader4. Its proprietary platforms are easy to learn and secure. Beginners access news and research integration. CMC Markets has many learning tools, including beginner tutorials. It is an excellent choice for inexperienced traders.
Banking services
Banking services are essential for an excellent online trading experience. Interactive Brokers offers bank wire as its funding solution. CMC Markets has bank transfers, credit/debit cards, and PayPal funding.
Final verdict
Interactive Brokers and CMC Markets are top online brokers. Both have advantages and disadvantages depending on your needs and trading experience. We recommend Interactive Brokers to experienced traders who want access to a premium platform. CMC Markets is a better choice for new traders, as it has many learning materials.
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Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.
Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.
Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.
Disclosure
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
