CMC Markets vs IC (Formerly IC Markets)

CMC Markets offers far more markets and direct investing options. IC focuses on low-cost forex and CFD trading.

Both brokers offer strong regulation, demos, major platforms, and 24/5 support. Both also provide mobile trading and multiple funding currencies.

CMC suits investors and research-focused traders. IC suits cost-sensitive, active, and automated traders.

Regulation & Trust

CMC Markets has operated since 1989 and is publicly listed in London. It holds licences from the FCA, ASIC, and CIRO.

IC has ASIC and CySEC regulation, plus offshore entities. Its offshore entities offer higher leverage but fewer legal protections.

CMC offers stronger transparency through regular public financial reports. It also provides deposit protection for eligible UK, EU, and Canadian clients.

Both brokers faced regulatory issues involving leverage rules. Both also warn clients about clone websites and impersonation scams.

Accounts & Banking

CMC offers CFD, FX Active, spread betting, and Spectre accounts. It also provides CMC Invest for shares, ETFs, pensions, and ISAs.

IC offers Standard and Raw Spread accounts. Its Raw Spread account targets active traders and scalpers.

Both brokers have fast online account opening and demo accounts. CMC provides $10,000 in virtual funds, while IC’s demo lasts 30 days.

CMC supports 10 base currencies and charges no deposit or withdrawal fees. IC also supports 10 currencies and offers free deposits.

IC card and e-wallet withdrawals are usually free. International bank withdrawals can cost $20 and take longer.

CMC offers Alpha benefits for deposits over $25,000. IC offers Raw Trader Plus benefits for high-volume clients.

Retail leverage reaches 1:30 at both brokers in regulated regions. CMC professionals may access 1:500 leverage.

IC offshore clients may access leverage up to 1:5000. This level greatly increases trading risk.

Assets & Markets

CMC offers more than 12,000 CFD products and over 300 currency pairs. It also offers direct shares and ETFs through CMC Invest.

CMC added options trading during 2024. It introduced extended trading for major US technology stocks during 2025.

IC offers over 2,250 instruments, including 75 currency pairs. Its range includes stock CFDs, indices, commodities, bonds, ETFs, and cryptocurrencies.

IC does not offer real shares or real ETFs. This limits its appeal for traditional long-term investors.

CMC acts as a market maker and takes the opposite trade side. This may create a conflict of interest.

IC supports trade sizes from 0.01 to 100 lots. This flexibility helps traders manage position sizes.

Fees & Costs

IC generally offers lower trading costs, especially for frequent forex trading. Its Raw Spread EUR/USD spreads average around 0.1 pips.

IC Raw Spread accounts can show spreads from 0.0 pips. They charge a $3.50 commission per standard lot.

CMC EUR/USD spreads average around 0.7 pips during active trading. Its stock CFD commissions start at $10.

Both brokers charge overnight swap fees and currency conversion fees. Both offer free deposits in most cases.

CMC charges a $10 inactivity fee after 12 months. IC does not charge an inactivity fee.

CMC offers guaranteed stop-loss orders for an added fee. The fee is refunded when the stop does not trigger.

Platforms & Tools

CMC offers its own web platform, MT4, TradingView, and MT5. Platform availability varies by region.

CMC’s web platform has over 80 indicators and 40 drawing tools. It offers a customizable layout and fast execution.

CMC does not offer a standalone desktop platform. Its order levels appear on charts only after placement.

IC supports MT4, MT5, cTrader, and TradingView. It does not offer a proprietary trading platform.

IC is stronger for automated trading and platform choice. MT4 supports automated strategies, while cTrader supports copy trading.

Both brokers provide web and mobile platform access. TradingView gives IC users social trading features and customizable charts.

Research

CMC provides broader in-house research and market information. Its tools include news, economic calendars, Reuters, Morningstar, and CMC TV.

CMC’s economic calendar includes impact meters for major events. This helps traders assess possible market effects.

IC provides market news, blog articles, videos, and a forex glossary. Its research is useful but less detailed overall.

IC includes Autochartist and Trading Central tools. Market Buzz offers sentiment data and asset-specific news filters.

Education

CMC offers more education on CFDs, forex, spread betting, stocks, and analysis. It provides guides, webinars, news, and live events.

CMC’s learning materials can feel difficult to filter by experience. New traders may find the large content library overwhelming.

IC provides tutorials, webinars, and basic trading education. Its content is less extensive and mainly located on its blog.

IC lacks structured courses, progress tracking, and interactive quizzes. Its learning content is less visible within the trading area.

Customer Support

Both brokers provide multilingual support 24 hours daily, five days weekly. Email, phone, and live support options are available.

CMC offers live chat to existing clients during weekdays. Email replies usually arrive within two business hours.

IC offers live chat, email, and a global phone line. Its email responses commonly arrive within several hours.

CMC live chat may be unavailable for prospective clients. IC live chat agents may lack technical knowledge for complex issues.

Should You Trade With CMC?

CMC is a strong choice for traders wanting many markets and strong research. It also suits investors wanting direct shares, ETFs, and fractional investing.

Its platform is powerful but may take time to learn. Stock CFD fees can also be expensive.

Should You Trade With IC Markets?

IC is a strong choice for low-cost forex and CFD trading. It offers tight spreads, fast execution, and flexible third-party platforms.

It is especially useful for algorithmic, copy, and short-term trading. However, it lacks real investment products for long-term portfolios.

Is CMC Markets or IC (Formerly IC Markets) Better For Beginners?

CMC Markets is better for beginners. It offers more learning materials, stronger research, and a modern proprietary platform.

Its direct investment options also allow a less complex start. IC’s education is useful but less structured and harder to find.

Is CMC Markets or IC (Formerly IC Markets) Better For Experienced Traders?

IC is better for many experienced traders. It offers lower spreads, cTrader, MT5, TradingView, and powerful automation tools.

CMC is better for experienced traders needing broader market access. Its 12,000-plus products and advanced research are major advantages.

Is CMC Markets or IC (Formerly IC Markets) Better For Short-term Traders?

IC is better for short-term traders, including day and swing traders. Its Raw Spread account offers tighter spreads and low commissions.

Its fast execution, small minimum trade size, and automation support help active strategies. High leverage remains risky and needs careful control.

Is CMC Markets or IC (Formerly IC Markets) Better For Long-Term Traders?

CMC Markets is better for long-term traders. CMC Invest offers direct shares, ETFs, trusts, pensions, and ISAs for UK clients.

Direct ownership can provide dividends and shareholder voting rights. IC only offers CFDs and does not provide real shares.

Is CMC Markets or IC (Formerly IC Markets) Better For Trading On Mobile?

CMC Markets is better for mobile trading. Its mobile app is modern, easy to use, and includes full trading functions.

It also offers optimized charts, clear order tracking, and market idea tools. IC provides several mobile platforms but relies on third-party apps.

Is CMC Markets or IC (Formerly IC Markets) Safer?

CMC Markets is safer overall for many retail traders. It is publicly listed, highly regulated, and offers eligible client compensation protections.

IC has strong ASIC and CySEC oversight. However, its offshore entities provide fewer protections and much higher leverage.

Why Pick CMC Markets Over IC (Formerly IC Markets)?

Choose CMC for its larger market range and direct investing options. It also offers stronger research, better education, and a polished mobile app.

CMC may suit traders wanting compensation protection in eligible regions. Guaranteed stop-loss orders provide another useful risk-control option.

Why Pick IC (Formerly IC Markets) Over CMC Markets?

Choose IC for lower forex costs and tighter Raw Spread pricing. It supports cTrader, MT4, MT5, and TradingView.

IC may suit scalpers, algorithmic traders, and copy traders. It also has no inactivity fee and supports very small trade sizes.