Higher Rated
CMC Markets
Capital at risk · T&Cs apply
In the realm of online trading, CMC Markets and IC Markets stand out with distinct offerings catering to different trader profiles. CMC Markets, with its award-winning Next Generation platform and extensive range of over 10,000 instruments, appeals primarily to traders seeking a comprehensive, no-minimum-deposit experience with strong regulatory backing. Conversely, IC Markets is favoured by those who prioritise ultra-low spreads and fast execution speeds, making it a suitable choice for cost-conscious traders willing to meet a $200 minimum deposit. While CMC Markets offers a more extensive product range, IC Markets excels in providing competitive pricing and robust platform options like MT4, MT5, and TradingView.
CMC Markets
IC Markets
| CMC Markets | IC Markets | |
|---|---|---|
| BrokerRank Score | 4.0/5 ✓ | 3.9/5 |
| Min. Deposit | $0 ✓ | $200 |
| Spread from | 0.7 pips | 0 pips ✓ |
| Max Leverage | 1:500 | 1:500 |
| Regulation | FCA, ASIC, MAS ✓ | ASIC, CySEC |
| Platforms | Proprietary Web, Proprietary Mobile, MT4 | MT4, MT5, TradingView |
CMC Markets is the better choice overall, scoring 4.0/5 vs 3.9/5 on BrokerRank's independent rating. On fees, IC Markets offers lower spreads (0 pips).
See full side-by-side comparison belowCMC Markets
WinnerIC Markets
CMC Markets
IC Markets
CMC Markets, established in 1989 and headquartered in London, operates under the regulatory oversight of top-tier bodies such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). This robust regulatory framework ensures high standards of client fund protection, transparency, and operational integrity. Client funds are held in segregated accounts, offering an additional layer of safety to traders.
IC Markets, founded in 2007 and based in Sydney, is regulated by ASIC and the Cyprus Securities and Exchange Commission (CySEC). These regulatory bodies are well-respected within the industry, offering a reasonable degree of assurance regarding the security of client funds. However, unlike CMC Markets, IC Markets does not have regulation from as many jurisdictions, potentially limiting its appeal for traders seeking broader international regulatory coverage.
CMC Markets offers spreads starting from 0.7 pips with zero commission on trades, appealing to those looking for cost-effective trading without the burden of additional charges. Additionally, there is no minimum deposit requirement, making it accessible to traders of all levels. However, traders should be mindful of potential inactivity fees after 12 months of no trading activity.
In contrast, IC Markets provides ultra-low spreads starting from 0.0 pips, but charges a commission of $3.5 per lot. This pricing model is particularly attractive for high-volume traders who benefit from tighter spreads. The minimum deposit is $200, which may not suit beginners or low-capital traders. IC Markets does not impose any inactivity fees, offering a cost advantage for those who trade less frequently.
CMC Markets boasts a proprietary Web and Mobile platform known as Next Generation, which has won awards for its advanced features and usability. It also supports MT4, catering to traders who prefer the widely-used MetaTrader suite. IC Markets, on the other hand, offers MT4, MT5, and TradingView, providing a comprehensive array of choices for traders who value platform flexibility and functionality. However, it lacks a proprietary desktop platform, which could be a downside for traders seeking a differentiated trading experience.
CMC Markets is the ideal choice for beginners due to its no minimum deposit and strong regulatory framework. For professionals, IC Markets stands out with its ultra-low spreads and fast execution. On fees, IC Markets offers a more cost-effective solution for high-volume traders, despite the $200 minimum deposit requirement.
CMC Markets
4.0/5
Choose CMC Markets if you want…
IC Markets
3.9/5
Choose IC Markets if you want…
CMC Markets scores higher overall on our independent rating system. CMC Markets holds a 4.0/5 rating vs IC Markets's 3.9/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
CMC Markets offers spreads from 0.7 pips, while IC Markets starts at 0 pips. Check the fees section above for a full breakdown.
CMC Markets requires a minimum deposit of $0. IC Markets requires $200.
CMC Markets is regulated by FCA, ASIC, MAS, while IC Markets holds licences from ASIC, CySEC.
CMC Markets supports Proprietary Web, Proprietary Mobile, MT4. IC Markets supports MT4, MT5, TradingView, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.