CMC Markets vs Plus500 (UK)
Reviewed by Phillip Ashdown, Senior Forex Analyst · Last updated · How we review
This comparison is for informational purposes only and does not constitute investment advice. Affiliate links may be present.
Quick Verdict
CMC Markets is the stronger all-round choice for most UK forex traders. It offers spread betting as well as CFDs, tighter minimum spreads on the major pairs (EUR/USD from 0.5 pips), 300+ forex pairs, MT4 and TradingView alongside its Next Generation platform, and refunds the guaranteed stop premium if the stop is not triggered. Plus500 suits beginners who want one simple CFD platform with no separate dealing commission (other fees may apply) and a free demo account. Both are FCA-regulated and both parent companies are listed on the London Stock Exchange.
Best for cost-sensitive traders: CMC Markets — Tighter minimum spreads on the majors, no minimum deposit, a 12-month inactivity grace period and the option to spread bet make CMC Markets cheaper for most UK traders.
Best for beginners: Plus500 — Plus500's single, uncluttered platform and free demo account make it a straightforward place to learn how CFDs work before trading with real money.
Best overall: CMC Markets — Spread betting, 300+ forex pairs, a choice of platforms and refundable guaranteed stops make CMC Markets the more versatile choice for most UK traders.
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CMC Markets and Plus500 are both FCA-regulated brokers whose parent companies are listed on the London Stock Exchange, but they are built for different traders. CMC Markets has operated for more than 35 years and offers spread betting and CFDs through its Next Generation platform, MT4 and TradingView. Plus500 offers CFDs only, through a single proprietary platform designed to be easy to use. Whether you are comparing CMC with Plus500 or Plus500 with CMC, this guide sets out the differences in costs, platforms, products and regulation for UK traders.
New to comparing? Start here: how to compare forex brokers.
CMC Markets vs Plus500: At a Glance
| Feature | CMC Markets | Plus500 |
|---|---|---|
| FCA Regulation | Yes (FRN 173730) | Yes (FRN 509909) |
| Spread Betting Available | Yes | No (CFDs only) |
| EUR/USD Spread | From 0.5 pips | From 0.6 pips |
| Pricing Model | Spread only (standard accounts); 0.0 pips plus commission (FX Active) | No separate dealing commission (other fees may apply) |
| Minimum Deposit | £0 | £50 |
| Inactivity Fee | £10/month after 12 months (not charged on zero-balance accounts) | Up to $10/month after 3 months without logging in |
| Platforms Offered | Next Generation (web and app), MT4, TradingView | Plus500 platform (web and app) |
| Guaranteed Stops | Yes (premium refunded if not triggered) | Yes (via a wider spread) |
| Forex Pairs | 300+ | 60+ |
| Retail Loss Rate | 69% | 82% |
| Best For | Spread bettors and traders who want forex range and advanced tools | Beginners who want one simple CFD platform and a free demo account |
Spreads and Fees
Typical spreads by pair
CMC Markets prices its standard spread betting and CFD accounts through the spread, with minimum spreads of 0.5 pips on EUR/USD, 0.9 on GBP/USD, 0.7 on USD/JPY and 0.6 on AUD/USD. Its FX Active account offers spreads from 0.0 pips on major pairs plus a commission of 0.0025% per transaction. CMC charges £10 per month after 12 months without trading, but not on accounts with a zero balance.
Commission and account fees
Plus500 does not charge a separate dealing commission on its CFDs, although other fees may apply. Its costs are built into the spread, with EUR/USD from 0.6 pips. Plus500 also charges overnight funding on positions held past the daily cut-off, a currency conversion fee of up to 0.7% on trades in a currency different from your account, and an inactivity fee of up to $10 per month after three months without logging in.
Overnight financing and inactivity costs
CMC is tighter on the headline EUR/USD spread, has no minimum deposit and a much longer inactivity grace period, and spread betting at CMC can remove Capital Gains Tax on profits for UK residents. Plus500's single pricing model is simpler to follow, which some beginners prefer.
For a detailed breakdown of how spreads affect trading costs, see our guide to forex spreads explained. To turn a spread into pounds on your trade size, use our pip value calculator, and to estimate what a trade would make or lose at either broker, try the forex profit calculator.
| Fee | CMC Markets | Plus500 |
|---|---|---|
| EUR/USD min spread | 0.5 pips | 0.6 pips |
| GBP/USD min spread | 0.9 pips | Variable (shown in platform) |
| USD/JPY min spread | 0.7 pips | Variable (shown in platform) |
| AUD/USD min spread | 0.6 pips | Variable (shown in platform) |
| FX commission | None (FX Active: 0.0025% per transaction) | No separate dealing commission |
| Minimum deposit | £0 | £50 |
| Inactivity fee | £10/month after 12 months | Up to $10/month after 3 months |
Platforms
CMC Markets' platform lineup
CMC Markets centres its offer on Next Generation, its proprietary web platform and app, with advanced charting, a wide range of technical indicators, pattern recognition and client sentiment data. MT4 is available through a separate account, and TradingView can be used with CMC CFD accounts. CMC's demo account comes with £10,000 in virtual funds.
Plus500's platform lineup
Plus500 runs a single proprietary platform on web and mobile, designed to be clean and simple, with stop loss, limit and guaranteed stop orders and price alerts. It does not support MT4, MT5, cTrader or TradingView. Plus500 offers a free demo account.
If you want deeper analysis tools or MetaTrader, CMC is the better fit. If you want the simplest possible platform to learn on, Plus500 keeps things straightforward.
| Feature | CMC Markets | Plus500 |
|---|---|---|
| Proprietary platform | Yes (Next Generation) | Yes (Plus500 platform) |
| MT4 | Yes (separate account) | No |
| MT5 | No | No |
| TradingView integration | Yes (CFD accounts) | No |
| Spread betting | Yes | No |
| Guaranteed stops | Yes (premium refunded if not triggered) | Yes (wider spread) |
| Mobile app | Yes | Yes |
| Demo account | Yes (£10,000 virtual funds) | Yes (free) |
| Stock exchange listed | Yes (LSE, FTSE 250) | Yes (LSE, FTSE 250) |
Markets and Instruments
CMC Markets offers 300+ forex pairs, one of the widest ranges available to UK traders, as part of around 13,000 instruments across indices, shares, commodities and treasuries. UK clients can trade through spread bets or CFDs, and CMC also offers an FX Active account for lower-cost forex trading.
Plus500 offers 60+ forex pairs alongside indices, commodities, shares and ETFs, all traded as CFDs. It does not offer spread betting in the UK, so profits are subject to Capital Gains Tax rather than typically being exempt as spread betting profits are. Tax treatment depends on individual circumstances and can change.
FCA Regulation and Safety
Regulatory status and client protections
Both brokers are authorised and regulated by the Financial Conduct Authority. CMC Markets UK plc operates under FRN 173730 and Plus500UK Ltd under FRN 509909. Client funds at both are held in segregated accounts, retail clients benefit from negative balance protection, and eligible clients are covered by the Financial Services Compensation Scheme up to £85,000 per person, per firm. Both apply the FCA's retail leverage limits, up to 1:30 on major currency pairs.
Company structure and history
Both parent companies are listed on the London Stock Exchange as FTSE 250 constituents. CMC Markets has operated for more than 35 years. Plus500 was founded in 2008; Plus500UK was fined £205,128 by the FCA in 2012 for transaction reporting failures. Retail loss rates differ: 69% of retail investor accounts lose money when spread betting and/or trading CFDs with CMC Markets, and 82% when trading CFDs with Plus500.
Verify each broker's authorisation on the FCA Register: CMC Markets on the FCA Register and Plus500 on the FCA Register.
For more on what FCA regulation means for traders, see our guide to FCA regulation explained.
Both brokers provide FSCS protection for eligible UK retail clients up to £85,000 per person, per firm.
Who Should Choose CMC Markets?
- UK traders who want spread betting as well as CFDs
- Traders who want one of the widest forex ranges available, with 300+ pairs
- Traders who want guaranteed stops with the premium refunded if they are not triggered
- Traders who want advanced charting and pattern recognition, or MT4 and TradingView
- Occasional traders who want a 12-month inactivity grace period and no minimum deposit
Ready to open an account? Visit CMC Markets.
69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
Who Should Choose Plus500?
- Beginners who want one simple platform, with a free demo account to practise on before trading live
- Traders who prefer pricing with no separate dealing commission (other fees may apply)
- Casual CFD traders who do not need spread betting or MetaTrader
- Traders who want an uncluttered mobile app
- Traders who value a London Stock Exchange listed parent company
Ready to open an account? Visit Plus500.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Final Verdict
CMC Markets is the more complete broker for most UK forex traders. It offers spread betting as well as CFDs, tighter minimum spreads on the major pairs, 300+ forex pairs, a choice of Next Generation, MT4 and TradingView, no minimum deposit and guaranteed stops with the premium refunded if they are not triggered. Plus500 is a simpler alternative for beginners who want one easy-to-use CFD platform, no separate dealing commission (other fees may apply) and a free demo account to practise on. Plus500's three-month inactivity trigger and currency conversion fee are worth checking before you open an account. If you want to spread bet or use MetaTrader, CMC Markets is the option of the two.
Read our full individual reviews for more detail: View CMC Markets Review and View Plus500 Review. You can also compare both brokers against the wider market on our best forex brokers UK page.
Frequently Asked Questions
Is CMC Markets or Plus500 cheaper?
CMC Markets quotes tighter minimum spreads on the major pairs, with EUR/USD from 0.5 pips against Plus500's 0.6 pips, and has no minimum deposit. Its inactivity fee of £10 per month starts after 12 months, compared with up to $10 per month after three months without logging in at Plus500. Plus500 has no separate dealing commission, but other fees may apply, including overnight funding and a currency conversion fee of up to 0.7%.
Does Plus500 offer spread betting like CMC Markets?
No. Plus500 offers CFDs only in the UK, while CMC Markets offers both spread betting and CFDs. For UK residents, spread betting profits are typically exempt from Capital Gains Tax, whereas CFD profits are not. Tax treatment depends on individual circumstances and can change.
Is CMC Markets safe and regulated in the UK?
Yes. CMC Markets UK plc is authorised and regulated by the FCA (FRN 173730), and its parent company is listed on the London Stock Exchange as a FTSE 250 constituent. Client money is held in segregated accounts, negative balance protection applies, and eligible clients are covered by the FSCS up to £85,000. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with CMC Markets.
Is Plus500 safe and regulated in the UK?
Yes. Plus500UK Ltd is authorised and regulated by the FCA (FRN 509909), and its parent, Plus500 Ltd, is listed on the London Stock Exchange as a FTSE 250 constituent. Client funds are held in segregated accounts and eligible clients are covered by the FSCS up to £85,000. Plus500UK was fined £205,128 by the FCA in 2012 for transaction reporting failures. 82% of retail investor accounts lose money when trading CFDs with Plus500.
Do CMC Markets and Plus500 offer guaranteed stops?
Yes, both do, but they charge differently. CMC Markets charges a premium for a guaranteed stop loss order and refunds it in full if the stop is not triggered. Plus500 applies a wider spread to positions with a guaranteed stop, and this cost is not refundable. Both show the cost before you confirm the order.
Which is better for beginners, CMC Markets or Plus500?
Plus500 is often chosen by beginners for its single, simple platform, and its free demo account lets new traders practise with virtual funds before trading with real money. CMC Markets also offers a demo account, with £10,000 in virtual funds, plus more advanced tools and the option to spread bet as you gain experience.
Are CMC Markets and Plus500 both listed companies?
Yes. CMC Markets plc and Plus500 Ltd are both listed on the London Stock Exchange and are FTSE 250 constituents. This page compares them as brokers for UK traders, not as investments; it does not cover either company's shares.
Risk Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with CMC Markets. 82% of retail investor accounts lose money when trading CFDs with Plus500. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.