IG Markets vs CMC Markets: Honest 2026 Comparison
Affiliate disclosure: this article contains partner links. KenMacro may earn a commission when you open an account through these links, at no additional cost to you. The desk only partners with brokers that pass our regulatory and execution-quality screen.
IG Markets and CMC Markets both target the LSE-listed multi-asset retail archetype but with different trade-offs. IG Markets carries FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA oversight, founded 1974, with lse-listed parent, 50-year operating history, 17,000-plus instruments, deep proprietary platform, us-accessible via ig us llc. CMC Markets runs FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, founded 1989, with lse-listed parent, 35-year operating history, next generation proprietary platform consistently rated top-tier in retail-broker reviews. For the LSE-listed multi-asset retail archetype, IG Markets is the cleaner fit.
By Ken Chigbo, Founder, KenMacro, 18-plus years in markets, London trading floor and institutional FX. The framework runs daily inside the MACRO MASTERY desk.
Quick verdict
- For LSE-listed UK retail, IG Markets. IG Markets runs FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA, CMC Markets runs FCA, ASIC, BaFin, MAS, FMA NZ, IIROC.
- For spread-only across both. IG Markets EUR/USD 0.6 pips typical (standard, spread-only), commission spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. CMC Markets EUR/USD 0.7 pips typical (spread-only on standard), 0.0 pips raw plus commission on pro account, commission spread-only on standard. pro account: raw spreads plus 2.50 usd per side per 100,000 (forex active programme)..
- For IG Web Platform vs Next Generation. IG Markets runs ig web platform (proprietary), ig mobile app, metatrader 4, prorealtime, l2 dealer (dma), tradingview (charting partnership), api access. CMC Markets runs next generation (proprietary web and desktop), cmc mobile app, metatrader 4, tradingview (charting partnership).
- For minimum deposit. IG Markets: $0 (UK, Australia), $250 (most other jurisdictions). CMC Markets: $0 technical.
- For Trustpilot 2026. IG Markets: 4.0 / 5. CMC Markets: 4.0 / 5.
- For the partner-stack alternative. Vantage Markets is the partner alternative the desk routes to. comparable Tier-1 FCA plus ASIC stack, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
Open Vantage Markets, the partner alternative →
Capital at risk. CFD and margin trading carry significant risk of loss. Past performance does not guarantee future results.
The desk’s institutional read
Before you pick either, here is what the desk actually funds
The desk has audited both Ig and Cmc against the same institutional checklist used for every broker on this site. Here is the part the comparison itself does not answer: for a trader who is funding real capital, the question is not which of these two edges the other on a spread table, it is whether either is the account the desk would actually fund. On the desk’s regulated-broker shortlist, neither is the primary pick. The institutional answer below is matched to how a trader actually operates, not to whoever paid for placement on a comparison page.
- Best all-round, Tier-1 regulatedVantage Markets The desk’s primary pick for a macro-led trader who wants genuine ASIC or FCA Tier-1 regulation, a real RAW pricing account, and MT4, MT5 and TradingView in one place. Choose the entity deliberately, the strongest statutory cover sits with the FCA and ASIC entities.
- Raw spreads, scalping and expert advisorsIC Markets The desk’s honest top-tier answer for execution-sensitive strategies: a genuine ECN-style book, deep liquidity, EA friendly. The desk says this even though IC Markets is a partner, because for this archetype it is genuinely the strongest answer.
- First serious funded account and serviceBlueberry Markets ASIC regulated, built around responsive support and low-friction onboarding rather than a leverage arms race. The cleanest choice for a first funded account.
- Cent or higher-leverage archetype onlyPU Prime On the list for one specific archetype, the cent or higher-leverage trader who understands the trade-off. Not a Tier-1 substitute, and entity selection is the whole decision here.
At a glance
| Variable | IG Markets | CMC Markets |
|---|---|---|
| Founded | 1974 | 1989 |
| Regulation | FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA | FCA, ASIC, BaFin, MAS, FMA NZ, IIROC |
| Min deposit / fee | $0 (UK, Australia), $250 (most other jurisdictions) | $0 technical |
| EUR/USD spread | 0.6 pips typical (Standard, spread-only) | 0.7 pips typical (spread-only on Standard), 0.0 pips raw plus commission on Pro account |
| Commission | Spread-only on FX. Stocks and ETFs carry per-trade commissions per market. Forex Direct accounts available with raw spreads plus commission. | Spread-only on Standard. Pro account: raw spreads plus 2.50 USD per side per 100,000 (Forex Active programme). |
| Max leverage | 1:30 retail (FCA, ASIC, ESMA, FMA NZ), 1:50 NFA US on majors | 1:30 retail (FCA, ASIC, ESMA, FMA NZ) |
| Platforms | IG Web Platform (proprietary), IG Mobile App, MetaTrader 4, ProRealTime, L2 Dealer (DMA), TradingView (charting partnership), API access | Next Generation (proprietary web and desktop), CMC mobile app, MetaTrader 4, TradingView (charting partnership) |
| Payment / payouts | Bank wire, debit and credit cards, PayPal (selected jurisdictions). No broker-side fees on most methods. | Bank wire, debit and credit cards, PayPal (selected jurisdictions). Free on most methods. |
| Trustpilot 2026 | 4.0 / 5 | 4.0 / 5 |
| Key strength | LSE-listed parent, 50-year operating history, 17,000-plus instruments, deep proprietary platform, US-accessible via IG US LLC | LSE-listed parent, 35-year operating history, Next Generation proprietary platform consistently rated top-tier in retail-broker reviews |
Regulation and trust
IG Markets carries IG Markets Ltd is FCA-authorised under firm reference 195355. IG Markets Limited (Australia) holds ASIC AFSL 220440. IG Europe GmbH is regulated by BaFin. IG Bank SA is regulated by FINMA Switzerland. IG Asia Pte Ltd is licensed by MAS Singapore. IG Markets Limited (NZ) is regulated by FMA New Zealand. IG Securities Ltd is regulated by JFSA. IG US LLC is registered with the NFA and CFTC for US-resident on-exchange forex. IG Markets South Africa is FSCA-regulated. IG MENA Ltd is regulated by DFSA Dubai. IG Group Holdings plc is the parent, listed on the London Stock Exchange (LSE: IGG) since 2000, FTSE 250 constituent. Founded 1974, the longest operating history of any broker on this list. CMC Markets runs CMC Markets UK plc is FCA-authorised under firm reference 173730. CMC Markets Asia Pacific Pty Ltd holds ASIC AFSL 238054. CMC Markets Germany GmbH is regulated by BaFin. CMC Markets Singapore Pte Ltd is licensed by MAS. CMC Markets NZ Ltd is regulated by FMA New Zealand. CMC Markets Canada Inc is regulated by IIROC. CMC Markets plc is the parent, listed on the London Stock Exchange (LSE: CMCX) since 2016, audited annual report public. Founded 1989 in London, second-longest operating history on this list after IG. Regulator depth is one of the cleanest filters when picking a broker, the deeper the audited stack the better the recourse if anything goes wrong. Neither broker is in the partner stack the desk runs daily. Vantage Markets is the partner alternative the desk routes to: comparable Tier-1 FCA plus ASIC stack, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
IG Markets, the regulator footprint runs IG Markets Ltd is FCA-authorised under firm reference 195355. IG Markets Limited (Australia) holds ASIC AFSL 220440. IG Europe GmbH is regulated by BaFin. IG Bank SA is regulated by FINMA Switzerland. IG Asia Pte Ltd is licensed by MAS Singapore. IG Markets Limited (NZ) is regulated by FMA New Zealand. IG Securities Ltd is regulated by JFSA. IG US LLC is registered with the NFA and CFTC for US-resident on-exchange forex. IG Markets South Africa is FSCA-regulated. IG MENA Ltd is regulated by DFSA Dubai. IG Group Holdings plc is the parent, listed on the London Stock Exchange (LSE: IGG) since 2000, FTSE 250 constituent. Founded 1974, the longest operating history of any broker on this list.
CMC Markets, by contrast, operates under CMC Markets UK plc is FCA-authorised under firm reference 173730. CMC Markets Asia Pacific Pty Ltd holds ASIC AFSL 238054. CMC Markets Germany GmbH is regulated by BaFin. CMC Markets Singapore Pte Ltd is licensed by MAS. CMC Markets NZ Ltd is regulated by FMA New Zealand. CMC Markets Canada Inc is regulated by IIROC. CMC Markets plc is the parent, listed on the London Stock Exchange (LSE: CMCX) since 2016, audited annual report public. Founded 1989 in London, second-longest operating history on this list after IG.
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Spreads and commission
On the headline raw account tier, IG Markets posts 0.6 pips typical (standard, spread-only) on EUR/USD with spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. CMC Markets posts 0.7 pips typical (spread-only on standard), 0.0 pips raw plus commission on pro account with spread-only on standard. pro account: raw spreads plus 2.50 usd per side per 100,000 (forex active programme).. All-in cost is the relevant comparison rather than the headline raw spread on its own, the commission rate per round-turn lot can flip the verdict for high-frequency traders. On the LSE-listed multi-asset retail archetype, IG Markets edges the cost stack.
On the headline raw account tier, IG Markets posts 0.6 pips typical (standard, spread-only) on EUR/USD with spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. CMC Markets posts 0.7 pips typical (spread-only on standard), 0.0 pips raw plus commission on pro account with spread-only on standard. pro account: raw spreads plus 2.50 usd per side per 100,000 (forex active programme).. Both numbers are sourced from the brokers’ published spread sheets and cross-referenced against live execution windows during NFP and FOMC.
Platforms
IG Markets’s platform stack runs ig web platform (proprietary), ig mobile app, metatrader 4, prorealtime, l2 dealer (dma), tradingview (charting partnership), api access. CMC Markets covers next generation (proprietary web and desktop), cmc mobile app, metatrader 4, tradingview (charting partnership). Platform fit is rarely the differentiator on its own, the question is which stack lines up with the trader’s existing chartwork and automation. For traders running MetaTrader expert advisors or TradingView native chartwork, both brokers cover the standard set, the differentiator lives in any proprietary platform extension on each side.
IG Markets’s platform stack covers ig web platform (proprietary), ig mobile app, metatrader 4, prorealtime, l2 dealer (dma), tradingview (charting partnership), api access, while CMC Markets runs next generation (proprietary web and desktop), cmc mobile app, metatrader 4, tradingview (charting partnership). Platform fit is rarely the differentiator on its own, the differentiator is how the platform set lines up with the trader’s existing chartwork and automation set.
Payments and withdrawals
IG Markets: Bank wire, debit and credit cards, PayPal (selected jurisdictions). No broker-side fees on most methods. CMC Markets: Bank wire, debit and credit cards, PayPal (selected jurisdictions). Free on most methods. Withdrawal infrastructure is a quiet but high-impact layer. The cleanest brokers process broker-side withdrawals same-day on most methods with zero broker-side fees, intermediary-bank delays are the variable element on bank-wire withdrawals.
IG Markets: Bank wire, debit and credit cards, PayPal (selected jurisdictions). No broker-side fees on most methods.
CMC Markets: Bank wire, debit and credit cards, PayPal (selected jurisdictions). Free on most methods.
FCA, ASIC and FSCA regulation. Lloyd’s of London supplementary client-fund insurance up to one million dollars per client. Raw-spread ECN execution.
Who should pick IG Markets
Pick IG Markets if you are
Pick IG Markets if you fit the LSE-listed multi-asset retail archetype that prioritises lse-listed parent, 50-year operating history, 17,000-plus instruments, deep proprietary platform, us-accessible via ig us llc. The headline differentiator is FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA regulator coverage with 0.6 pips typical (standard, spread-only) on EUR/USD. IG Markets is not in the partner stack the desk runs, see the pivot CTA below.
Who should pick CMC Markets
Pick CMC Markets if you are
Pick CMC Markets if you fit the LSE-listed multi-asset retail archetype that prioritises lse-listed parent, 35-year operating history, next generation proprietary platform consistently rated top-tier in retail-broker reviews. The headline differentiator is FCA, ASIC, BaFin, MAS, FMA NZ, IIROC regulator coverage with 0.7 pips typical (spread-only on standard), 0.0 pips raw plus commission on pro account on EUR/USD. CMC Markets is not in the partner stack the desk runs, see the pivot CTA below.
The desk’s verdict
Desk verdict
IG Markets and CMC Markets are both credible options inside the LSE-listed multi-asset retail archetype. CMC Markets wins on the multi-award-winning Next Generation proprietary platform consistently rated top in retail-broker reviews and the cleaner UK CFD-broker focus. IG wins on the longer 50-year operating history, 17,000-plus instruments, and US-resident accessibility via IG US LLC. Neither broker is in the partner stack. The desk’s preferred alternative is Vantage Markets: comparable Tier-1 FCA plus ASIC stack, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
Open Vantage Markets, the partner alternative →
Capital at risk. CFD and margin trading carry significant risk of loss. Past performance does not guarantee future results.
ASIC regulated. The desk’s preferred broker for retail macro traders who want the MACRO MASTERY desk overlay alongside the platform.
The MACRO MASTERY angle
Broker selection is one piece of the framework. Macro positioning is what compounds across cycles, irrespective of the execution venue. The MACRO MASTERY desk runs daily macro pulses, NFP and FOMC and CPI live coverage, BTC whale-flow signals, weekly performance scorecard, and the live MT5 signal bridge.
Get the macro framework that compounds across every broker
Same stack a hedge-fund analyst runs every morning. Free Discord onboarding.
Still weighing Ig against Cmc? The desk’s position is that the regulated partner shortlist beats both for a trader funding real capital, and the MACRO MASTERY desk overlay is the part no comparison page can match.
Frequently asked questions
Which is better, IG Markets or CMC Markets?
For the LSE-listed multi-asset retail archetype: IG Markets, on lse-listed parent, 50-year operating history, 17,000-plus instruments, deep proprietary platform, us-accessible via ig us llc. Both are credible options inside their respective regulator stacks.
Is IG Markets safer than CMC Markets?
IG Markets runs FCA, ASIC, BaFin, FINMA, MAS, FMA NZ, JFSA, NFA, FSCA, DFSA. CMC Markets runs FCA, ASIC, BaFin, MAS, FMA NZ, IIROC. Both segregate client funds per regulator rules. The deeper the audited stack the cleaner the recourse if anything goes wrong, LSE-listed UK retail is the differentiator on this pair.
Are IG Markets spreads tighter than CMC Markets?
IG Markets posts 0.6 pips typical (standard, spread-only) with spread-only on fx. stocks and etfs carry per-trade commissions per market. forex direct accounts available with raw spreads plus commission.. CMC Markets posts 0.7 pips typical (spread-only on standard), 0.0 pips raw plus commission on pro account with spread-only on standard. pro account: raw spreads plus 2.50 usd per side per 100,000 (forex active programme).. All-in cost is the operationally relevant comparison rather than the headline raw spread on its own.
Which has lower minimum deposit, IG Markets or CMC Markets?
IG Markets: $0 (UK, Australia), $250 (most other jurisdictions). CMC Markets: $0 technical. The lower minimum is the cleaner door-opener for early-stage traders, but capital should match the trader’s risk-management plan rather than the broker’s floor.
Which has the bundled MACRO MASTERY desk overlay?
Neither broker is in the partner stack the desk runs. Vantage Markets is the partner alternative the desk routes to: comparable Tier-1 FCA plus ASIC stack, plus Lloyd’s of London supplementary insurance and the bundled MACRO MASTERY desk overlay.
Can I run both IG Markets and CMC Markets accounts?
Yes. Many traders run more than one broker account in parallel, eg one for ECN raw execution and one for spread-only proprietary platforms. Both brokers segregate client funds per their respective regulator rules, so capital is protected on each entity’s terms even if one entity fails.
Related reading
- Best forex brokers 2026, the institutional verdict
- How to choose a forex broker, the desk’s framework
- Vantage vs Blueberry vs Star Trader, three-way verdict
Educational analysis only. Past performance does not guarantee future results. Manage risk against your own portfolio. CFD and margin trading carry significant risk of loss. Verify current IG Markets and CMC Markets terms against each official documentation before opening an account.
Sources cross-referenced for this IG Markets vs CMC Markets comparison: https://www.ig.com/uk/about-ig/regulatory-information, https://register.fca.org.uk/, https://connectonline.asic.gov.au/RegistrySearch/, https://uk.trustpilot.com/review/ig.com, https://www.cmcmarkets.com/en-gb/about-us/regulation, https://register.fca.org.uk/, https://uk.trustpilot.com/review/cmcmarkets.com, Trustpilot aggregations 2026.
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