CMC Markets vs Interactive Brokers

Detailed Analysis

CMC Markets and Interactive Brokers are both reviewed on PipsPal with verified data. This side-by-side looks at how they compare across the four factors that actually affect trading outcomes: spreads and trading costs, regulation and safety, platform choice, and minimum deposit requirements.

Spreads & Trading Costs

CMC Markets offers From 0.2 pips, while Interactive Brokers offers From 0.2 pips. Both use standard-account pricing with costs built into the spread rather than separate commissions. Direct spread comparison on EUR/USD during liquid sessions is the cleanest like-for-like measure — the numbers above reflect typical conditions, not minimum advertised. During news releases or low-liquidity periods, spreads widen on both, and the relative difference may narrow or flip.

Regulation & Safety

CMC Markets is regulated by ASIC, FCA. Interactive Brokers holds licences under CFTC, FCA, SEC. Both hold legitimate regulatory oversight, though the specific strength varies by jurisdiction. Check the broker's account-opening documentation to identify which legal entity will hold your funds — this determines which compensation scheme, if any, applies. For most retail traders, both brokers provide adequate protection; the question is whether you need specific regulator coverage (FCA for UK, ASIC for Australia, etc.) based on where you live.

Trading Platforms

CMC Markets supports MetaTrader 4, Next Generation Platform, WebTrader. Interactive Brokers supports Trader Workstation, WebTrader, Mobile. CMC Markets's proprietary platform is the more polished all-in-one experience with tighter integration of research and news. Interactive Brokers's MetaTrader-based approach gives traders broader workflow portability — indicators, scripts, and Expert Advisors transfer to other MT-based brokers. Choose based on whether you prioritise platform polish (CMC Markets) or platform portability (Interactive Brokers).

Minimum Deposit

CMC Markets requires a $0 minimum deposit, while Interactive Brokers requires $0. Both brokers allow testing the platform with any deposit amount, which is useful for verifying execution quality before committing significant capital. Don't confuse minimum deposit with recommended starting capital — trading with $50 creates position-sizing constraints that affect risk management regardless of broker. Plan your starting capital based on your strategy's drawdown tolerance, not the broker's minimum.

Our Verdict