IG vs CMC Markets UK 2026: Which Broker Is Better?
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
Both IG and CMC Markets are FCA-regulated, UK-listed brokers with decades of operating history. IG is the stronger choice for traders who want a broader platform ecosystem and direct market access options. CMC Markets quotes slightly lower minimum spreads on EUR/USD, has the wider forex range and offers its own Next Generation web platform. Neither is a bad choice; the right pick depends on how you trade.
Best for cost-sensitive traders: CMC Markets — CMC's FX Active account offers EUR/USD from 0.0 pips plus a commission, which can work out cheaper than IG's spread-only pricing for high-volume traders. Work out the all-in cost for your own trade sizes before choosing.
Best for beginners: IG — IG Academy's structured free courses and 50 years of UK trading history offer beginners more education and credibility than CMC's platform-focused approach.
Best overall: IG — IG's seven platforms including ProRealTime and L2 Dealer, and its long UK history, edge out CMC's deeper FX range for many UK traders, though the choice depends on how you trade.
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IG and CMC Markets are two of the most established FCA regulated brokers available to UK traders. Both offer spread betting, CFD trading and access to a wide range of forex pairs. They are publicly listed companies with long operating histories in the UK market. This comparison examines the key differences between the two across costs, platforms, regulation and trader suitability. The aim is to help UK traders decide which broker fits their trading style, experience level and priorities. Neither broker is universally better. The right choice depends on what matters most to you.
New to comparing? Start here: how to compare forex brokers.
IG vs CMC Markets: At a Glance
| Feature | IG | CMC Markets |
|---|---|---|
| FCA Regulation | Yes (FRN 195355) | Yes (FRN 173730) |
| Listed on stock exchange | Yes (London Stock Exchange) | Yes (London Stock Exchange) |
| EUR/USD minimum spread | From 0.6 pips | From 0.5 pips |
| Forex pairs available | 80+ | 300+ |
| Platforms | IG web and app, MT4, MT5, ProRealTime, TradingView, L2 Dealer | Next Generation web and app, MT4 |
| Spread betting | Yes | Yes |
| CFD trading | Yes | Yes |
| Minimum deposit | £0 (£250 recommended) | No minimum |
| FSCS protection | Yes (up to £85,000) | Yes (up to £85,000) |
| Founded | 1974 | 1989 |
Spreads and Fees
Typical spreads by pair
CMC Markets quotes slightly tighter minimum spreads on major forex pairs, with EUR/USD from 0.5 pips on major FX pairs. IG quotes EUR/USD from 0.6 pips. These are the lowest spreads each broker advertises, not what you will pay on average: spreads vary throughout the trading session and widen during off-peak hours, so the difference on a single trade is small. Check each broker's current spread table for the pairs and hours you trade.
Commission and account fees
Neither broker charges a commission on forex spread betting or CFD trades; the spread is the primary cost. Both offer commission-based share dealing accounts, which are separate from the forex offering.
Overnight financing and inactivity costs
IG does not charge an inactivity fee. CMC Markets charges one after 12 months of no trading activity.
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 | IG | CMC Markets |
|---|---|---|
| EUR/USD min spread | 0.6 pips | 0.5 pips (standard) / 0.0 pips (FX Active) |
| GBP/USD min spread | 0.9 pips | 0.9 pips |
| USD/JPY min spread | 0.7 pips | 0.7 pips |
| FX commission | None on standard | None on standard / $2.50 per $100k (FX Active) |
| UK share commission | 0.10% | from £9 minimum |
| Forex pairs available | 80+ | 300+ |
| Minimum deposit | £0 | £0 |
| Inactivity fee | None | £10/month after 1 year |
Platforms
IG's platform lineup
IG offers one of the widest platform ranges among UK brokers. Traders can use the IG web platform, MetaTrader 4, ProRealTime for advanced charting, and L2 Dealer for direct market access. This makes IG particularly suitable for traders who want to use algorithmic strategies or require professional-grade charting.
CMC Markets' platform lineup
CMC Markets offers its proprietary Next Generation platform alongside MetaTrader 4. Next Generation is CMC's proprietary web platform, with charting tools, pattern recognition features and a clean interface. It lacks the depth of IG's platform ecosystem but is more intuitive for traders who do not need algorithmic tools.
| Feature | IG | CMC Markets |
|---|---|---|
| Proprietary platform | Yes (IG Platform) | Yes (Next Generation) |
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | No | No |
| TradingView integration | Yes | Yes (CFD accounts) |
| ProRealTime | Yes | No |
| DMA | Yes (L2 Dealer) | No |
| Execution speed claim | not published | 0.009s median (1 Apr 2024 to 31 Mar 2025) |
| Total instruments | 15,000+ | 13,000 to 21,000 (CMC pages differ) |
Markets and Instruments
CMC Markets offers around 300 forex pairs compared to approximately 80 at IG. For traders focused on exotic currency pairs, CMC Markets has an advantage. For most retail forex traders who primarily trade majors and minors, this difference is unlikely to matter in practice.
Both brokers offer a broad range of instruments beyond forex, including indices, commodities, shares and cryptocurrencies. IG advertises 15,000 or more markets, while CMC's pages quote different instrument totals (up to 21,000), so treat market counts for both as approximate.
FCA Regulation and Safety
Regulatory status and client protections
Both IG and CMC Markets are authorised and regulated by the Financial Conduct Authority. Both are listed on the London Stock Exchange and subject to the public disclosure and reporting requirements that come with that status. Client funds at both brokers are held in segregated 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
IG was founded in 1974 and has grown into one of the largest retail CFD and spread betting providers globally. It operates through three FCA regulated entities: IG Markets (FRN 195355), IG Index (FRN 114059) and IG Trading and Investments (FRN 944492). CMC Markets was founded in 1989 and is part of CMC Markets plc, which is listed on the London Stock Exchange. The UK entity, CMC Markets UK plc, is authorised by the FCA under firm reference number 173730. Both brokers have invested heavily in their proprietary platforms over decades of operation.
Verify each broker's authorisation on the FCA Register: IG on the FCA Register and CMC Markets 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 IG?
- Traders who want access to ProRealTime or L2 Dealer for advanced analysis or direct market access
- Traders who want to use algorithmic strategies via MT4 alongside a regulated UK broker
- Traders who want a large range of markets alongside CFDs and spread betting
- Traders who value a long operating history (IG dates from 1974)
Ready to open an account? Visit IG.
70% of retail investor accounts lose money when trading CFDs or Spread Bets with this provider. You should consider whether you can afford to take the high risk of losing your money.
Who Should Choose CMC Markets?
- Traders who prioritise a clean, modern web platform and find the Next Generation interface more intuitive
- Traders who want access to a wider range of forex pairs, particularly exotic pairs
- Traders who want slightly tighter minimum spreads on EUR/USD without moving to a commission-based model
- Traders who want strong built-in charting tools without needing a third-party platform
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.
Final Verdict
IG and CMC Markets are closely matched. CMC Markets quotes slightly lower minimum spreads on EUR/USD and offers a wider forex range alongside its own Next Generation platform. IG pulls ahead for traders who need a wider platform ecosystem or professional tools such as ProRealTime and L2 Dealer. Both are well-regulated choices for UK traders.
Read our full individual reviews for more detail: View IG Review and View CMC Markets Review. You can also compare both brokers against the wider market on our best forex brokers UK page.
Frequently Asked Questions
Is IG or CMC Markets cheaper for active traders?
CMC quotes slightly lower minimum spreads on EUR/USD, at 0.5 pips versus IG's 0.6 pips, and both quote USD/JPY from 0.7 pips. These are minimums, not averages. Neither charges commission on standard forex CFD or spread bet trades. For active traders who want to push costs lower, CMC's FX Active account quotes 0.0 pips on six majors with a commission, which can work out cheaper than IG's spread-only pricing at higher volumes, depending on trade size. Both are mid-market priced rather than budget.
Which has better trading platforms, IG or CMC Markets?
IG wins on platform breadth with seven options including its own web platform, MT4, MT5, ProRealTime, L2 Dealer for direct market access, and TradingView. CMC focuses on two: its own Next Generation platform and MT4. The Next Generation platform has TradingView charts integrated and 115+ drawing tools built in, so CMC users get that capability without switching apps. If you need DMA or ProRealTime, IG. If you want a single polished proprietary platform with everything in one place, CMC.
Do both IG and CMC Markets offer spread betting?
Yes, both offer spread betting for UK residents. IG advertises spread betting from 13p per point, its stated starting stake, which may not apply to every market. CMC's spread bet account covers a very wide range of markets. Spread betting profits are generally free from Capital Gains Tax and stamp duty for UK residents, though tax treatment depends on your circumstances and may change. Either broker offers this through its FCA-regulated UK entity.
Which is better for beginners, IG or CMC Markets?
IG has the edge for complete beginners thanks to its IG Academy education hub, extensive trading need-to-knows content, and the Art of Investing podcast. The onboarding is polished and the demo account mirrors live trading closely. CMC's Next Generation platform is powerful but takes time to learn, and its educational content, while solid, is less structured than IG's. Start with IG if you're new. Consider CMC once you've found your feet.
Are both IG and CMC Markets FCA regulated?
Yes, both hold FCA authorisation. IG operates through three regulated entities: IG Markets (FRN 195355) for CFDs, IG Index (FRN 114059) for spread betting, and IG Trading and Investments (FRN 944492) for share dealing. CMC Markets UK plc is FCA registered under company number 173730. Both are listed on the London Stock Exchange, which adds public disclosure requirements. Client funds at both are segregated and eligible for FSCS protection up to £85,000 per person.
Which has lower minimum deposits, IG or CMC Markets?
Neither imposes a fixed minimum when funding by bank transfer. IG requires a £250 minimum on the first deposit when paying by card or PayPal, though subsequent deposits carry no floor. CMC has no such threshold. In practice neither minimum should drive your choice. Your starting balance should reflect the position sizes you actually want to trade, not the broker's floor, because depositing right at margin level leaves no room for the trade to breathe.
Risk Warning: Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The majority of retail investor accounts lose money when trading spread bets and CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Full Risk Disclosures
IG: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.