Interactive Brokers vs CMC Markets 2024

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Interactive Brokers is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Commodity Futures Trading Commission (CFTC), and regulated in the European Union via the MiFID passporting system.

CMC Markets is publicly traded, does not operate a bank, and is authorised by five Tier-1 regulators (Highly Trusted), one tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). CMC Markets is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Monetary Authority of Singapore (MAS), Financial Markets Authority (FMA), and the Financial Conduct Authority (FCA).

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

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.

To open a trading account with Interactive Brokers, you'll need to make an initial minimum deposit of $0.

CMC Markets requires a minimum deposit of $0 before you can open an account and start trading.

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Interactive Brokers offers Bank Wire (Deposit/Withdraw) for banking, whereas CMC Markets provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw) and PayPal (Deposit/Withdraw). Neither have Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that CMC Markets offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Interactive Brokers holds 9 global Tier-1 licenses, while CMC Markets holds 5. Both Interactive Brokers and CMC Markets hold 1 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Interactive Brokers and CMC Markets have earned the same Trust Score (99).

To compare the trading platforms of both Interactive Brokers and CMC Markets, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found CMC Markets to provide better mobile trading apps.

Here’s what trading platforms are available at Interactive Brokers:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - No
• MT5 - No
• ZuluTrade - No
• TradingView - Yes

Here’s what trading platforms are available at CMC Markets:

• Proprietary Platform - Yes
• Web Platform - Yes
• cTrader - No
• DupliTrade - No
• MT4 - Yes
• MT5 - No
• ZuluTrade - No
• TradingView - No

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. CMC Markets offers MetaTrader 4 (MT4), while Interactive Brokers does not. Forex traders also appreciate the ability to engage in social copy trading. While CMC Markets offers copy trading, Interactive Brokers does not.

CMC Markets provides traders 156 currency pairs (e.g., EUR/USD) compared to Interactive Brokers's 90 available pairs. If you are interested in trading CFDs, CMC Markets offers traders access to 12074 CFDs, while Interactive Brokers offers access to 8500 CFDs; so CMC Markets offers 3574 more CFDs than Interactive Brokers.

We found in our testing that Interactive Brokers offers a more diverse selection of investment options than CMC Markets, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD) and Cryptocurrency (Physical).