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CMC Markets vs XTB (UK)
Reviewed by Phillip Ashdown
This comparison is for informational purposes only and does not constitute investment advice. Affiliate links may be present.
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CMC Markets and XTB are both FCA-regulated brokers with no minimum deposit and strong proprietary platforms. CMC Markets offers one of the widest forex ranges available with 330+ currency pairs and its advanced Next Generation platform. XTB provides commission-free trading on xStation 5 with strong educational resources. This comparison examines the key differences between the two across pricing, platform experience, regulation and trader suitability.
CMC Markets vs XTB: At a Glance
| Feature | CMC Markets | XTB |
|---|---|---|
| FCA Regulation | Yes (FRN 173730) | Yes (FRN 522157) |
| Minimum Deposit | £0 | £0 |
| Pricing Model | Spread-only | Commission-free (Standard) |
| Spread Betting Available | Yes | No |
| Platforms Offered | Next Generation, MT4 | xStation 5, xStation Mobile |
| Inactivity Fees | £10/month after 12 months | £10/month after 12 months |
| Forex Pairs | 330+ | 48+ |
| Public Listing | Yes (LSE) | Yes (Warsaw Stock Exchange) |
| Best For | Traders wanting wide forex range and proprietary tools | Beginners wanting a modern platform with strong education |
Spreads and Fees
Typical spreads by pair
CMC Markets uses a spread-only pricing model. There is no separate commission on trades. Spreads on major pairs like EUR/USD start from 0.7 pips. CMC charges a £10 monthly inactivity fee after 12 months of no trading activity.
Commission and account fees
XTB offers a Standard account with spreads from 0.5 pips on major pairs and no commission. XTB also charges £10 per month after 12 months of no trading activity. Both brokers have identical inactivity fee structures.
Overnight financing and inactivity costs
Neither broker requires a minimum deposit. XTB's spreads on major pairs are slightly tighter on paper, though both offer competitive pricing for commission-free accounts.
For a detailed breakdown of how spreads affect trading costs, see our guide to forex spreads explained.
Platforms
CMC Markets' platform lineup
CMC Markets centres its offering around the Next Generation platform, a proprietary web-based tool with advanced charting, over 80 technical indicators, pattern recognition and client sentiment data. MT4 is also available for traders who prefer it.
XTB's platform lineup
XTB offers xStation 5, a modern proprietary platform with advanced charting, one-click trading, and built-in market analysis. A full-featured mobile app mirrors the desktop experience. XTB does not support MetaTrader 5 or cTrader.
CMC suits traders who want built-in analysis tools and pattern recognition within the platform. XTB suits those who value a modern interface with integrated educational content.
FCA Regulation and Safety
Regulatory status and client protections
Both brokers are authorised and regulated by the Financial Conduct Authority. CMC Markets operates under FRN 173730 and is listed on the London Stock Exchange. XTB UK Limited operates under FRN 522157. Client funds at both brokers are held in segregated bank accounts, and retail clients benefit from negative balance protection. Eligible deposits are covered by the Financial Services Compensation Scheme up to £85,000 per person, per firm.
Company structure and history
CMC Markets was founded in 1989 and has over 35 years of operating history, with its parent company listed on the London Stock Exchange as a FTSE 250 constituent. The UK entity, CMC Markets UK plc, is registered under company number 173730. XTB was founded in 2002 and is listed on the Warsaw Stock Exchange. Its UK entity operates under FRN 522157, alongside additional licences held across European jurisdictions through separate group entities. Both brokers are publicly listed, which brings financial disclosure requirements that privately held brokers don't face.
Verify each broker's authorisation on the FCA Register: CMC Markets on the FCA Register and XTB 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?
- Traders who want access to 330+ forex pairs from a single broker
- Those who prefer a proprietary platform with built-in charting and sentiment tools
- Traders who value a publicly listed broker with transparent financial reporting
- Users who want no minimum deposit and simple spread-only pricing
- Spread bettors looking for tax-efficient trading on a wide range of forex pairs
Ready to open an account? Visit CMC Markets.
Who Should Choose XTB?
- Beginners seeking structured educational content and a user-friendly platform
- Cost-conscious traders wanting commission-free forex trading
- Traders who prefer a modern proprietary platform over MetaTrader
- UK traders looking for an FCA-regulated broker with no minimum deposit
- Intermediate traders wanting access to multiple asset classes from one account
Ready to open an account? Visit XTB.
Final Verdict
CMC Markets and XTB are both accessible, FCA-regulated brokers with no minimum deposit and identical inactivity fee structures. CMC's clear advantage is market range, with 330+ forex pairs compared to XTB's 48+. XTB's strength is its structured educational content and modern platform experience. CMC also offers spread betting, which XTB does not. Traders who prioritise exotic and emerging market currencies will prefer CMC. Those who want a streamlined, education-rich trading experience may prefer XTB.
Read our full individual reviews for more detail: View CMC Markets Review and View XTB Review. You can also compare both brokers against the wider market on our best forex brokers UK page.
Risk Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading these products. You should consider whether you understand how these instruments work and whether you can afford the high risk of losing your money.