CMC Markets vs XTB (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.
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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 around 300 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.
New to comparing? Start here: how to compare forex brokers.
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 if no trades for 12 months and no deposit in the last 90 days |
| Forex Pairs | 300+ | 60+ |
| 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 0.5 pips. CMC charges a £10 monthly inactivity fee after 12 months of no trading activity.
Commission and account fees
XTB charges no commission on CFD trades, and its comparison table listed EUR/USD at 0.8 pips (data dated 13 January 2026). A 0.5% currency conversion fee applies to profit and loss in a different currency to the account. XTB charges €10 per month only if an account has had no position opened or closed for 365 days and no deposit has been made in the last 90 days, so the two brokers' inactivity terms differ in both currency and trigger.
Overnight financing and inactivity costs
Neither broker requires a minimum deposit. CMC quotes spreads from 0.5 pips on major pairs, and both brokers charge no separate commission on standard accounts. XTB's published spread figures have differed between its pages, so compare current spreads on the pairs you trade.
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.
Platforms
CMC Markets' platform lineup
CMC Markets centres its offering around the Next Generation platform, a proprietary web-based tool with advanced charting, 115+ drawing tools, indicators and chart patterns, 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 offer MetaTrader 4 or 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 its parent, CMC Markets plc, 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, CMC Markets plc, listed on the London Stock Exchange. The UK entity, CMC Markets UK plc, holds FCA firm reference 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 around 300 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.
69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
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.
74% 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 and XTB are both accessible, FCA-regulated brokers with no minimum deposit. CMC's main advantage is market range, with around 300 forex pairs compared with XTB's 60+. 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.