Introduction
IG and CMC Markets are the two grand houses of retail derivatives trading: both born in London, both listed on the London Stock Exchange, both regulated by a stack of tier-1 authorities, and both fighting over the same sophisticated CFD and spread betting clientele for more than three decades. This is the rare comparison where either answer is defensible, but the split is clear.
IG is the better all-round broker. Founded in 1974 and now a FTSE 250 company worth around GBP 3.9 billion, it offers the industry’s widest market access at roughly 19,500 tradable symbols, a five-platform lineup that includes TradingView, ProRealTime, MetaTrader and the L2 Dealer DMA terminal, commission-free share dealing (custody fees were scrapped in January 2026), ISAs, options products and even US access through its tastyfx and tastytrade brands. For breadth, trust and ecosystem, nothing in retail trading quite matches it.
CMC Markets is the better platform and the sharper forex specialist. Its Next Generation platform is widely considered the finest proprietary CFD platform in the industry, its 330+ currency pairs triple IG’s forex range, its standard EUR/USD spread of roughly 0.7 pips undercuts IG’s 0.9, and its FX Active account offers raw spreads plus a $5 round-turn commission that IG’s standard account cannot touch. ForexBrokers.com named CMC Best in Class Overall in its 2026 awards.
If you want one account for everything, choose IG. If you live inside your charts and trade mostly forex and indices, choose CMC. The rest of this comparison shows precisely where each earns its reputation.
Comparison Table
| Feature | IG | CMC Markets |
|---|---|---|
| Founded | 1974 | 1989 |
| Headquarters | London, UK | London, UK |
| Regulation | FCA, ASIC, BaFin, MAS, FINMA, CFTC/NFA (US), FMA, JFSA and more | FCA, ASIC, BaFin, MAS, CIRO, FMA (NZ) |
| Publicly Listed | Yes, LSE FTSE 250 (IGG) | Yes, LSE (CMCX, since 2016) |
| Minimum Deposit | GBP 1 by bank transfer (GBP 250 cards/PayPal) | None |
| Trading Platforms | Proprietary web/mobile, MT4, MT5, TradingView, ProRealTime, L2 Dealer | Next Generation, MT4 (MT5 in select regions) |
| Tradable Assets | 19,500+ symbols (approx. 17,000 CFDs) | 12,000+ instruments |
| Forex Pairs | Approx. 97 | 330+ |
| Maximum Leverage | 1:30 retail; up to 1:200 professional | 1:30 retail; higher professional |
| Spreads | EUR/USD approx. 0.9 avg; DMA approx. 0.55 + commission | EUR/USD approx. 0.7 avg; FX Active 0.0 min + commission |
| Commissions | Share CFDs; DMA forex approx. $6 RT | Share CFDs 0.10%; FX Active $5 RT |
| Inactivity Fee | Approx. $12/month after 24 months | Approx. $10/month after 12 months |
| Account Types | CFD, spread betting, share dealing, ISA, DMA, professional | CFD, spread betting, FX Active, Alpha, stockbroking (region dependent) |
| Demo Account | Yes, unlimited | Yes, unlimited |
| Islamic Account | Yes (availability varies) | Not widely documented |
| Copy Trading | No (signals only) | No |
| Social Trading | No | No |
| Mobile Trading | Yes, top rated | Yes, award-winning |
| Desktop Platform | Web-based, ProRealTime, L2 Dealer | Next Generation desktop |
| Web Platform | Yes, proprietary | Yes, Next Generation |
| Educational Resources | IG Academy (extensive, recently stagnant) | Good, less structured |
| Research Tools | Reuters, IGTV, analyst content, signals | Morningstar, Reuters, CMC TV, sentiment tools |
| Customer Support | 24/5, reports of slow responses | 24/5, well rated |
| Deposit Methods | Cards, bank transfer, PayPal | Cards, bank transfer, PayPal (region dependent) |
| Withdrawal Methods | Same, no fees on most methods | Same, no fees |
| Processing Time | Instant to 3 business days | Instant to 3 business days |
| Investor Protection | FSCS GBP 85,000 (UK), equivalents by entity | FSCS GBP 85,000 (UK), equivalents by entity |
Conditions vary by entity and change often. Confirm current figures on the official IG and CMC Markets websites before opening an account.
Company Overview
IG
IG began in 1974 as Investors Gold Index, letting retail clients speculate on the gold price without owning bullion, effectively inventing what became spread betting and, later, the retail CFD. Half a century on, IG Group is a FTSE 250 constituent with a market capitalization above GBP 3.9 billion, more than 346,000 active clients, and regulated entities spanning the UK, Europe, Australia, Japan, Singapore, New Zealand, Switzerland (where IG Bank operates under FINMA supervision), South Africa, the UAE and the United States, where it serves clients through tastyfx (forex) and tastytrade (listed options and futures).
The product sprawl is the point. From one login, clients access roughly 19,500 markets: 17,000 CFDs, around 97 forex pairs, 13,000+ international share CFDs with extended hours, 80+ indices, commodities, crypto CFDs, thematic baskets, plus UK spread betting, real share dealing and ISAs, and options-style products (barriers and vanillas) in several regions. January 2026 brought a notable pricing move: IG removed its custody fee and made share and ETF dealing commission-free. Platform choice is equally broad: the polished proprietary web and mobile platforms, MetaTrader 4 and 5 (with a thinner instrument list), TradingView connectivity, ProRealTime advanced charting, and L2 Dealer for direct market access.
Weak spots exist and reviewers are consistent about them: no native copy trading, an IG Academy education library that has stagnated, recurring user complaints about support responsiveness, and headline spreads that are competitive rather than cheap.
CMC Markets
CMC Markets was founded in London in 1989 by Peter Cruddas, pioneered online retail FX dealing in the 1990s, and listed on the London Stock Exchange in 2016 (CMCX). It serves around 290,000 active clients through 14 offices with roughly 1,200 staff, holds over GBP 412 million in Tier 1 regulatory capital, and administers GBP 37.5 billion in assets across its trading and investing arms. Its Australian entity has held its ASIC license since 1996, one of the oldest in retail forex, and the group’s record is free of major enforcement actions.
Its crown jewel is the Next Generation platform, widely regarded as the best proprietary platform in retail CFD trading: institutional-grade charting with automated pattern recognition, price projection tools, client sentiment data, integrated Reuters news and Morningstar equity research, guaranteed stop-loss orders (with the premium refunded if untriggered), and 99.95% uptime with median execution latency measured in single-digit milliseconds. The instrument list runs past 12,000, headlined by an extraordinary 330+ currency pairs and 9,000+ share CFDs, with weekend crypto trading added in 2026 for eligible clients. Pricing runs on two tracks: competitive spread-only standard accounts (EUR/USD around 0.7 pips) and the FX Active account with spreads from 0.0 plus $2.50 per side, supplemented by the Alpha discount program for high-volume traders. In ForexBrokers.com’s 2026 Annual Awards, CMC took Best in Class honors Overall, plus top finishes for platforms, research and its mobile app.
Its own weak spots: spreads have drifted slightly wider year over year on some pairs, the proprietary platform does not support automated trading (that requires MT4), there is no TradingView or cTrader integration, and copy trading is absent.
Regulation & Safety
There is no meaningful daylight between these two on trust, which itself tells you the tier they occupy.
IG is regulated by eight-plus tier-1 authorities, including the FCA (UK), ASIC, BaFin, MAS, FINMA (via IG Bank), Japan’s JFSA and, uniquely among UK CFD brokers, the CFTC/NFA in the United States through tastyfx. UK clients get FSCS protection up to GBP 85,000, EU and other clients get their local equivalents, retail negative balance protection applies in UK/EU entities, and the FTSE 250 listing adds audited transparency. Independent verification in 2026 confirmed every license active and in good standing.
CMC Markets is regulated by the FCA (173730), ASIC (AFSL 238054), BaFin, MAS, Canada’s CIRO and New Zealand’s FMA, five tier-1 regulators, with the same FSCS coverage for UK clients, segregated funds at major banks (Westpac and CBA in Australia), retail negative balance protection and an LSE listing with audited accounts since 2016. Its 37-year history is similarly clean.
Trust verdict: a genuine tie at the very top of the industry. IG’s file is broader (more jurisdictions, plus the US); CMC’s is equally unblemished. Either broker is about as safe as retail derivatives trading gets.
Trading Products
IG wins on sheer scope. Roughly 19,500 symbols cover 97 forex pairs, 13,000+ share CFDs across US, UK, European and Asian exchanges with extended-hours trading, 80+ indices, soft and hard commodities, bonds, crypto CFDs, and exclusive thematic baskets (clean energy, esports and similar). Beyond CFDs, UK and Irish clients get tax-efficient spread betting; UK clients get real share dealing and ISAs, now commission-free with no custody fee; several regions get barrier and vanilla options and Turbo-style products; and US residents, whom CMC cannot serve at all, get forex via tastyfx and listed options/futures via tastytrade.
CMC Markets counters with focused depth: 12,000+ instruments including 9,000+ share CFDs, 90+ indices, commodities and treasuries, weekend crypto trading (a 2026 addition for eligible clients), spread betting for UK/Ireland, and real share investing through CMC Invest in the UK and Australia. Its trump card is forex breadth: 330+ currency pairs, more than triple IG’s count and the widest of any tier-1-regulated broker, a genuine draw for exotic-pair specialists.
Verdict: IG for multi-asset traders and anyone wanting investing products beside derivatives; CMC for currency specialists who want every cross and exotic under one roof.
Trading Platforms
IG offers the industry’s widest platform menu: a fast, customizable proprietary web platform and top-rated mobile app; MetaTrader 4 and 5 for EA-driven automation (though limited to roughly 90 to 100 instruments); TradingView connectivity for chart-native execution; ProRealTime for institutional-grade charting and automated strategies; and L2 Dealer, a genuine DMA terminal streaming interbank liquidity for the Forex Direct account. The trade-off is fragmentation: each venue has its own strengths, and the proprietary platform, while excellent, is not the deepest charting tool in this matchup.
CMC Markets concentrates everything into Next Generation, and the concentration shows. Charting depth (115 indicators, drawing tools, pattern recognition that scans and alerts automatically), price projection bands, client sentiment by market, module-linked charts and boards, integrated Morningstar and Reuters research, and guaranteed stops make it the best single proprietary platform in retail trading, on web, desktop and an award-winning mobile app with full feature parity. MT4 covers automation (with a reduced instrument list), and MT5 has been appearing in select regions. What is missing matters to some: no TradingView, no cTrader, no public API, and no automated trading on Next Generation itself.
Verdict: CMC for the best single platform experience; IG for platform choice, TradingView/ProRealTime access and DMA. Algorithmic traders lean IG (or elsewhere entirely); discretionary chartists lean CMC.
Trading Costs
Both are mid-priced by design, monetizing trust and tooling rather than rock-bottom spreads, but the details diverge.
Forex. CMC’s standard spread-only pricing averages around 0.7 pips on EUR/USD (minimums from 0.5), while IG’s standard account averaged 0.91 pips in October 2025 data, with independent 2026 monitoring recording 0.82. Advantage CMC on the standard tier. On commission accounts, CMC’s FX Active offers minimum 0.0-pip spreads plus $2.50 per side ($5 round turn), an all-in cost around 1.15 pips on recent averages, while IG’s Forex Direct DMA account averaged 0.55 pips plus roughly $6 round turn (about 1.15 all-in), with volume tiers stepping the commission down to as little as $1 for institutional-scale flow. Effectively level on commission accounts; note both trail true ECN brokers like Pepperstone or IC Markets on raw cost.
Indices and shares. Index spreads are keenly matched (FTSE 100 from 1 point at both; S&P 500 from 0.4 at IG). Share CFDs cost commission at both (CMC from 0.10% with a GBP 9 minimum; IG comparable), while IG’s real share dealing went commission-free with no custody fee in January 2026, a meaningful win for UK investors. Guaranteed stops are available at both, with CMC refunding the premium if the stop is not triggered.
Non-trading fees. Neither charges deposit or withdrawal fees on standard methods. Inactivity fees: CMC around GBP/USD 10 per month after 12 dormant months; IG around $12 per month but only after 24 months, the more forgiving policy. IG raised its overnight funding admin rate to 1.5% recently, so position traders should compare carry costs on their specific markets; IG is nonetheless frequently cited as competitive on overnight financing for major FX.
| Cost Item | IG | CMC Markets |
|---|---|---|
| EUR/USD standard avg | Approx. 0.82 to 0.91 pips | Approx. 0.7 pips |
| Commission account | DMA: approx. 0.55 pips + $6 RT (tiered) | FX Active: 0.0 min + $5 RT |
| S&P 500 / FTSE 100 | From 0.4 / 1.0 points | From 0.4 to 1.0 points (comparable) |
| Share CFD commission | Yes (rates vary) | 0.10%, min approx. GBP 9 |
| Real share dealing | Commission-free, no custody fee (2026) | CMC Invest, low flat fees (region dependent) |
| Inactivity fee | Approx. $12/month after 24 months | Approx. $10/month after 12 months |
| Guaranteed stops | Yes (premium applies) | Yes (premium refunded if untriggered) |
Cost verdict: CMC narrowly for standard forex and FX Active simplicity; IG for share dealing, index breadth pricing and the gentler inactivity policy. High-frequency forex traders should look past both to raw-spread specialists.
Account Types
IG:
- CFD account: the global default, 17,000+ markets.
- Spread betting: UK and Ireland, tax-free under current rules.
- Share dealing and ISA: UK, commission-free since January 2026.
- Forex Direct (DMA): interbank pricing via L2 Dealer with tiered commissions.
- Professional: higher leverage (up to 1:200 forex) for qualifying clients.
- Islamic: swap-free availability varies by entity.
- Demo: unlimited, $10,000 virtual funds.
- Minimums: GBP 1 by bank transfer, GBP 250 by card or PayPal.
CMC Markets:
- CFD account: the core account, 12,000+ instruments, no minimum deposit.
- Spread betting: UK and Ireland, Next Generation only.
- FX Active: raw spreads plus $2.50 per side, available in the UK, Australia, New Zealand, Canada and Southeast Asia on both platforms.
- Alpha program: volume-based spread discounts for active traders.
- CMC Invest / Stockbroking: real shares in the UK and Australia.
- Professional: higher leverage for qualifying clients, plus the Dynamic Trading portfolio product.
- Demo: unlimited virtual funds.
- Islamic accounts are not widely documented; observant traders should confirm directly.
| Account Feature | IG | CMC Markets |
|---|---|---|
| Minimum deposit | GBP 1 (bank) / GBP 250 (card) | None |
| Raw/commission FX account | Forex Direct (DMA) | FX Active |
| Spread betting | Yes (UK/IE) | Yes (UK/IE) |
| Real shares / ISA | Yes, commission-free | Yes (CMC Invest, region dependent) |
| US residents | Yes (tastyfx/tastytrade) | No |
| Options products | Yes (barriers, vanillas, regions vary) | No |
Deposits & Withdrawals
Both operate clean, fee-free funding befitting their tier.
IG accepts cards, bank transfers and PayPal across nine base currencies, with instant card/e-wallet crediting and no deposit or withdrawal fees on most methods. Bank-transfer accounts can start from GBP 1.
CMC Markets accepts cards, bank transfers and PayPal (availability varies by region), charges nothing either way, and imposes no minimum deposit at all. Withdrawals at both typically complete within one to three business days.
| Funding Feature | IG | CMC Markets |
|---|---|---|
| Cards / bank / PayPal | Yes | Yes (region dependent) |
| Deposit/withdrawal fees | None on most methods | None |
| Base currencies | 9 | Multiple |
| Minimum deposit | GBP 1 to 250 by method | None |
Research & Education
IG runs one of the largest research operations in retail trading: Reuters feeds, IGTV video programming built around what clients are actually trading, daily analyst commentary, trading signals and economic calendars. IG Academy remains a substantial free education library with courses and quizzes, though reviewers note it has stagnated, with little new content in recent years.
CMC Markets integrates its research where traders live: Morningstar quantitative equity reports, Reuters news, CMC TV analyst video, client sentiment analytics and a market calendar, all inside Next Generation. Its education is competent but less structured than IG Academy, and its research output volume has slowed somewhat per 2026 reviews, even as it won Best in Class for research.
Verdict: IG for structured learning breadth; CMC for research integration and sentiment tooling. Both are strong; neither is currently improving fast.
Customer Support
CMC Markets offers 24/5 support by phone, email and chat with consistently solid ratings for responsiveness.
IG offers the same channels and hours, with phone support even for platform navigation, but user feedback across 2026 forums repeatedly cites slow responses and long waits as its most common complaint, a surprising weak spot for the industry leader.
| Support Channel | IG | CMC Markets |
|---|---|---|
| Phone / chat / email | Yes | Yes |
| Hours | 24/5 | 24/5 |
| Reputation | Mixed on speed | Solid |
Mobile Trading Experience
Both apps are excellent, among the best in the industry.
IG’s app mirrors the web platform with full order management, alerts, signals, news and charting, praised for stability and speed across iOS and Android.
CMC’s app carries Next Generation’s DNA: the same charting engine, pattern recognition and sentiment tools in a phone-sized package with feature parity, and it took top mobile honors in the 2026 ForexBrokers.com awards.
Verdict: CMC by a nose for charting on the move; IG for one-app access to its wider product shelf.
Pros & Cons
IG
Pros
- Roughly 19,500 markets, the widest access in retail trading
- Eight-plus tier-1 licenses including US access (tastyfx/tastytrade)
- Five-plus platforms: proprietary, MT4/MT5, TradingView, ProRealTime, L2 Dealer DMA
- Spread betting, share dealing and ISAs beside CFDs; share dealing commission-free since January 2026
- 50-year history, FTSE 250 listing, GBP 3.9 billion market cap
- Forgiving inactivity policy (24 months) and GBP 1 bank-transfer minimum
Cons
- Standard EUR/USD spreads (approx. 0.9) wider than CMC and far wider than ECN brokers
- No copy or social trading
- IG Academy education has stagnated
- Recurring complaints about support responsiveness
- MetaTrader instrument list is thin; platform sprawl can confuse beginners
- Overnight funding admin rate increased recently
CMC Markets
Pros
- Next Generation: arguably the best proprietary platform in retail CFD trading
- 330+ forex pairs, the widest tier-1-regulated FX range anywhere
- Standard EUR/USD around 0.7 pips; FX Active raw pricing at $5 round turn
- Five tier-1 regulators, LSE listing, clean 37-year record
- No minimum deposit; guaranteed stops with refunded premiums
- 2026 Best in Class Overall, platform, research and mobile awards
Cons
- No TradingView, cTrader or public API; no automation on Next Generation
- Smaller total instrument range than IG (12,000+ vs 19,500+)
- Spreads have widened slightly year over year on some pairs
- No US clients, no copy trading, Islamic accounts not clearly offered
- Next Generation’s depth means a real learning curve for beginners
- Inactivity fee bites after 12 months (vs IG’s 24)
Who Should Choose IG?
Choose IG if you want maximum scope under maximum protection. Multi-asset traders get 19,500 markets in one relationship; UK investors get tax-efficient spread betting beside commission-free share dealing and ISAs; algorithmic and DMA traders get MetaTrader, ProRealTime automation and L2 Dealer interbank access; chart-native traders get TradingView execution; and US residents get the only route into this comparison at all, via tastyfx and tastytrade. Casual traders benefit from the GBP 1 entry point and the industry’s most patient inactivity clock. If your trading life spans several asset classes and product types, IG is the account you will not outgrow.
Who Should Choose CMC Markets?
Choose CMC Markets if platform quality and forex depth decide it for you. Discretionary technical traders get charting, pattern recognition and sentiment tools that no proprietary rival matches, in identical form on desktop and mobile; currency specialists get 330+ pairs including exotics no tier-1 competitor lists; and cost-focused FX traders get tighter standard spreads than IG plus the FX Active raw account without needing DMA-scale volume. The no-minimum entry and refunded guaranteed-stop premiums sweeten it for careful smaller traders. If you trade forex and indices from charts and want one beautifully engineered venue, CMC is the pick.
Final Verdict
This is a contest between the industry’s widest broker and its best-engineered one, and the honest answer is that both belong on any serious shortlist.
IG wins overall on the weight of its range, platform choice, investing products, US accessibility and half-century institutional depth. It is the more complete financial relationship.
CMC Markets wins the trading experience with Next Generation, sharper standard forex pricing and unmatched currency-pair breadth, enough for ForexBrokers.com to crown it Best in Class Overall in 2026.
Neither is the cheapest venue for pure forex execution (ECN specialists undercut both), and both charge inactivity fees and meaningful overnight financing, so match the choice to your profile rather than to headlines. Whichever you pick, the sector disclosure applies: roughly two-thirds or more of retail accounts lose money trading CFDs and spread bets, so trade with capital you can afford to lose.
Frequently Asked Questions
Is IG or CMC Markets bigger?
IG, by most measures: roughly 19,500 tradable symbols versus 12,000+, around 346,000 active clients versus 290,000, and a market capitalization near GBP 3.9 billion versus CMC’s several hundred million. CMC counters with more forex pairs (330+ versus about 97) and the higher-rated proprietary platform.
Which broker has lower forex spreads?
CMC Markets on standard accounts: around 0.7 pips average on EUR/USD versus roughly 0.82 to 0.91 at IG. On commission accounts they converge near 1.15 all-in pips (CMC FX Active at $5 round turn; IG Forex Direct DMA at about $6, tiered down for huge volume). Dedicated ECN brokers beat both.
Are IG and CMC Markets safe?
Yes, both sit at the very top of the industry for trust: multiple tier-1 licenses (FCA, ASIC, BaFin, MAS and more), London Stock Exchange listings with audited accounts, segregated client funds, FSCS protection up to GBP 85,000 for UK clients, and clean multi-decade records.
Which platform is better, IG’s or Next Generation?
For a single platform, CMC’s Next Generation is widely considered the best proprietary CFD platform available, with superior charting, pattern recognition and sentiment tools. IG wins on choice: its solid proprietary platform plus MT4/MT5, TradingView, ProRealTime and the L2 Dealer DMA terminal.
Can I use TradingView or MetaTrader with these brokers?
At IG, yes: TradingView connectivity plus MT4 and MT5 (with a reduced instrument list). At CMC Markets, MT4 is supported (MT5 in select regions), but there is no TradingView or cTrader integration; Next Generation is the primary venue.
Do both offer spread betting?
Yes, both offer tax-efficient spread betting to UK and Ireland residents under current rules. IG additionally offers real share dealing and ISAs (commission-free since January 2026), while CMC offers real share investing through CMC Invest in the UK and Australia.
Can US residents open accounts?
Only with IG, indirectly: US clients trade forex through tastyfx and listed options/futures through tastytrade, both IG Group brands regulated by US authorities. CMC Markets does not accept US clients, and CFDs are banned in the US at both.
What are the minimum deposits?
CMC Markets has none. IG requires as little as GBP 1 by bank transfer, or GBP 250 for card and PayPal deposits.
Do these brokers charge inactivity fees?
Yes. CMC charges roughly GBP/USD 10 per month after 12 months without trading; IG charges about $12 per month but only after 24 months of inactivity, the more lenient policy.
Which is better for algorithmic trading?
IG, clearly: MT4/MT5 Expert Advisors, ProRealTime automated strategies, L2 Dealer DMA and API options. CMC’s Next Generation does not support automated trading, leaving only its MT4 offering for EAs.
Which is better for trading exotic currency pairs?
CMC Markets, without contest: 330+ pairs spanning majors, minors and a deep exotic list, versus roughly 97 pairs at IG. It is the widest FX range offered by any tier-1-regulated broker.
Do IG or CMC Markets offer copy trading?
No. Neither offers native copy or social trading; IG provides integrated trading signals as its closest analog. Traders who want copy trading should look at eToro, Pepperstone’s supported platforms or similar alternatives.
