Two of London's most established CFD and forex brokers go head-to-head in one of the most closely watched matchups in retail trading. IG Group edges ahead with a tighter spread offering and broader regulatory coverage, but CMC Markets punches back hard with zero minimum deposit and higher maximum leverage. Read on for our full, no-nonsense verdict.
The world's oldest CFD and spread betting provider, offering institutional-grade tools and four-regulator oversight to retail traders since 1974.
CMC Markets's award-winning Next Generation platform delivers over 12,000 instruments and zero minimum deposit, making professional-grade trading accessible from day one.
Core features compared head-to-head.
| Feature | IG IG Group | CM CMC Markets |
|---|---|---|
| Overview | ||
| Rating | 4.3 / 5 | 4.0 / 5 |
| Founded | 1974 | 1989 |
| Headquarters | London, UK | London, UK |
| Regulation | FCA, ASIC, MAS, SEC | FCA, ASIC, MAS |
| Fees & Limits | ||
| Min Deposit | $250 | $0 |
| Spreads From | 0.6 pips | 0.7 pips |
| Commission | None | None |
| Max Leverage | 1:200 | 1:500 |
| Platforms & Markets | ||
| Trading Platforms | Proprietary Web, Proprietary Mobile, MT4 | Proprietary Web, Proprietary Mobile, MT4 |
| Markets Offered | Cfd, Forex, Stocks, Indices, Commodities, Crypto | Cfd, Forex, Stocks, Indices, Commodities, Crypto |
IG Group
$250
CMC Markets
$0
IG Group
0.6 pips
CMC Markets
0.7 pips
IG Group
None
CMC Markets
None
IG Group
None
CMC Markets
None
IG Group
None
CMC Markets
None
IG Group is the stronger overall broker, earning our rating of 4.3/5 versus CMC Markets's 4.0/5. It wins on tighter spreads (0.6 pips vs 0.7 pips), a more extensive regulatory footprint covering FCA, ASIC, MAS, and SEC, and a longer track record dating back to 1974. CMC Markets remains a compelling option for capital-constrained beginners thanks to its zero minimum deposit and higher leverage ceiling of 1:500, but for the majority of traders seeking reliability, cost efficiency, and regulatory depth, IG Group is the clear recommendation.
When it comes to regulatory oversight, IG Group holds a meaningful edge. It is licensed by four of the world's most respected financial regulators: the FCA (UK), ASIC (Australia), MAS (Singapore), and the SEC (United States). This multi-jurisdictional coverage means IG Group is subject to some of the strictest capital adequacy and client fund protection rules on the planet.
CMC Markets is no slouch in this department either, holding licences from the FCA, ASIC, and MAS — three tier-1 regulators that command genuine respect globally. Client funds are segregated, and the broker operates transparently under robust compliance frameworks in each jurisdiction it serves.
The decisive difference here is the SEC licence held by IG Group. Registering with the U.S. Securities and Exchange Commission is an exceptionally high bar to clear, signalling an additional layer of institutional credibility. For traders who prioritise regulatory depth above all else, IG Group is the safer harbour.
Both brokers offer no deposit fees and no withdrawal fees, which also reflects a degree of transparency and trader-friendly policy that aligns with their regulated status. Neither broker presents a red flag from a safety standpoint — but IG Group's four-regulator coverage tips the scales decisively in its favour.
Fees are one of the most critical factors in long-term trading profitability, and here IG Group again takes the lead. IG Group offers spreads starting from 0.6 pips on major forex pairs, compared to CMC Markets's entry point of 0.7 pips. While 0.1 pips may sound trivial, for active traders executing dozens of round-trip trades per week, this difference compounds into a meaningful cost saving over time.
Neither broker charges a commission on standard accounts, which is a significant advantage for retail traders who prefer the simplicity of spread-based pricing. Both platforms also waive deposit and withdrawal fees entirely, keeping the total cost of trading transparent and manageable.
CMC Markets does offer a competitive fee structure of its own, particularly for traders who qualify for its tiered volume-based pricing. High-frequency traders may find that CMC Markets's pricing tiers reward consistent activity. However, for the average retail trader, IG Group's tighter base spreads remain the more attractive proposition.
On leverage, CMC Markets offers a maximum of 1:500, significantly higher than IG Group's ceiling of 1:200. This is a notable advantage for experienced traders seeking amplified exposure on smaller capital bases, though it also increases risk proportionally. Retail traders in FCA or ASIC-regulated environments will typically be capped at much lower leverage limits regardless of the broker's maximum offering.
Both IG Group and CMC Markets offer a broadly comparable platform suite: a proprietary web-based platform, a proprietary mobile application, and MetaTrader 4 (MT4). MT4 remains the industry standard for algorithmic traders and those who rely on expert advisors (EAs), so its inclusion at both brokers is a positive signal for technically oriented traders.
IG Group's proprietary platform is widely regarded as one of the most feature-rich in the retail trading industry. It includes advanced charting tools, integrated news feeds, Reuters and Morningstar research, and a comprehensive suite of risk management features. The platform has been refined over decades and reflects IG Group's heritage as the world's oldest spread betting and CFD provider, founded in 1974.
CMC Markets's Next Generation platform is equally impressive and has received widespread industry recognition for its intuitive design and depth of analytical tools. It features a pattern recognition scanner, client sentiment data, and an extensive library of technical indicators. For traders who value a modern, data-rich interface, CMC Markets's proprietary platform is genuinely world-class.
On mobile, both brokers deliver solid, fully-featured applications that allow traders to monitor positions, execute trades, and access charts on the go. Neither platform suffers from the stripped-back functionality that plagues many mobile trading apps. This category is effectively a draw, with platform preference likely coming down to personal taste rather than objective capability.
Both IG Group and CMC Markets cover an impressively broad range of asset classes: CFDs, forex, stocks, indices, commodities, and cryptocurrency. For most retail traders, neither broker will leave them wanting for market access, as both platforms cover thousands of individual instruments across these categories.
IG Group's market coverage is particularly notable in equities, where it offers access to shares from global exchanges including the US, UK, Europe, Asia-Pacific, and beyond. Its long history since 1974 means it has had decades to build out its product range, and the depth shows. Traders looking for niche instruments or emerging market exposure are likely to find more options with IG Group.
CMC Markets also offers an extensive product range, with its Next Generation platform reportedly covering over 12,000 instruments. This is one of the broadest offerings in the CFD industry and is a genuine selling point for traders who want maximum variety from a single platform. For sheer breadth of instrument count, CMC Markets is arguably the leader.
Cryptocurrency coverage is available at both brokers via CFDs, allowing traders to speculate on digital asset price movements without holding the underlying coins. Neither broker currently offers direct crypto custody or spot crypto trading, which may be a limitation for traders seeking actual ownership of digital assets.
One of CMC Markets's clearest advantages is its zero minimum deposit requirement. Traders can open and fund an account with any amount they choose, removing a significant barrier to entry for beginners or those testing the platform with limited capital. This accessibility is a genuine differentiator in a market where many brokers still require $200 or more to get started.
IG Group requires a minimum deposit of $250, which is a modest but non-trivial requirement. For the vast majority of traders with serious intent, $250 is not a prohibitive amount. However, for absolute beginners or those in emerging markets with limited capital, this threshold could be a deciding factor.
The account opening process at both brokers is fully digital and typically completed within one to two business days, subject to identity verification. Both platforms comply with standard KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements, which are non-negotiable under their respective regulatory frameworks.
Overall, CMC Markets wins this category on pure accessibility, while IG Group's $250 minimum is more than justified by the broader value it delivers in terms of spreads, regulation, and platform depth.
After a thorough, data-driven assessment across regulation, fees, platforms, market access, and account accessibility, IG Group emerges as the stronger overall broker. It earns our rating of 4.3/5, outpacing CMC Markets's solid but slightly lower 4.0/5. The margin is not enormous, and both brokers are genuinely excellent choices — but IG Group's advantages are consistent and meaningful across multiple categories.
IG Group's tighter spreads from 0.6 pips, four-regulator oversight including the SEC, and its extraordinary track record since 1974 make it the most compelling choice for the majority of traders, whether they are intermediate retail participants or more experienced market professionals. Its platform depth and research integration further cement its position at the top of this comparison.
CMC Markets is far from a consolation prize. Its zero minimum deposit makes it the best entry point for absolute beginners, its Next Generation platform is genuinely impressive, and its higher leverage ceiling of 1:500 appeals to experienced traders seeking greater capital efficiency. For traders who prioritise accessibility and platform innovation, CMC Markets is an excellent alternative.
Ultimately, if you are a serious trader looking for the most cost-efficient, well-regulated, and feature-complete broker between these two, IG Group is our recommended choice. If you are just starting out and want to begin with minimal capital commitment, CMC Markets deserves serious consideration.
The bottom line — category winners and our final pick based on ratings.
IG Group edges out CMC Markets overall based on our expert rating score.
Highest Rated
IG Group
4.3 / 5 / 5
Category winners
Overall winner
Based on overall expert rating (4.3/5).
Better for beginners
Stronger onboarding and educational resources.
Lower trading costs
More competitive spreads and baseline commissions.
Stronger regulation
Higher trust based on tier-1 regulatory oversight.
Risk warning: Trading CFDs and forex involves significant risk of loss and is not suitable for all investors. Please consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
