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IG vs CMC Markets UK 2026: Which Broker Is Better?
Reviewed by Phillip Ashdown
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 wider range of markets, a more established platform ecosystem and direct market access options. CMC Markets edges ahead on raw spreads for active traders and offers a more modern web platform experience with its Next Generation platform. Neither is a bad choice — the right pick depends on how you trade.
Best for cost-sensitive traders: CMC Markets — FX Active account offers EUR/USD from 0.0 pips with a fixed $2.50 commission per $100k notional, plus 25% spread discount on 300+ pairs, typically beating IG's 0.6 pip standard spreads on active volume.
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 15,000+ markets, seven platforms including ProRealTime and L2 Dealer, and stronger brand recognition edge out CMC's deeper FX range for most UK traders.
vs
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.
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 typical spread | From 0.6 pips | From 0.5 pips |
| Forex pairs available | 80+ | 330+ |
| Platforms | IG Web, MT4, ProRealTime, L2 Dealer | Next Generation, 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 offers slightly tighter typical spreads on major forex pairs, with EUR/USD from 0.5 pips on its standard account. IG quotes EUR/USD from 0.6 pips. In practice, spreads vary throughout the trading session and widen during off-peak hours, so the difference on a single trade is minimal.
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 charges an inactivity fee of £12 per month after two years of inactivity. CMC Markets charges a similar inactivity fee after 12 months. Active traders will not encounter these charges.
For a detailed breakdown of how spreads affect trading costs, see our guide to forex spreads explained.
| 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+ | 330+ |
| Minimum deposit | £0 | £0 |
| Inactivity fee | £12/month after 2 years | £10/month after 1 year |
Platforms
IG's platform lineup
IG offers the broadest platform choice of any UK broker. 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 widely regarded as one of the best web-based trading platforms available to retail traders, with strong 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 |
| ProRealTime | Yes | No |
| DMA | Yes (L2 Dealer) | No |
| Execution speed claim | not published | 0.009s median |
| Total instruments | 15,000+ | 13,000+ |
Markets and Instruments
CMC Markets offers over 330 forex pairs compared to approximately 80 at IG. For traders focused on exotic currency pairs, CMC Markets has a clear 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 has a larger overall market count and is one of the few UK retail brokers offering options trading alongside its CFD and spread betting products.
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 sits within an FTSE 250 group with over 35 years of operating history. The UK entity, CMC Markets UK plc, is registered under company 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 access to options alongside CFDs and spread betting
- Traders who value the longest operating history and largest balance sheet among UK retail brokers
Ready to open an account? Visit IG.
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 typical spreads on major pairs 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.
Final Verdict
IG and CMC Markets are closely matched. For most retail forex traders, CMC Markets offers a marginally better out-of-the-box experience with its Next Generation platform and tight spreads. IG pulls ahead for traders who need a wider platform ecosystem, professional tools or access to options. Both are safe, 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 edges ahead on EUR/USD spreads at 0.5 pips versus IG's 0.6 pips, and on USD/JPY at 0.7 pips versus IG's 0.7 pips average. 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 $2.50 per $100,000 commission, which typically beats IG's spread-only pricing at meaningful volume. 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 award-winning 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's spread bet account lets you stake from 13p per point on majors. CMC's spread bet account covers 12,000 instruments. Spread betting profits are generally free from Capital Gains Tax and stamp duty for UK residents because HMRC classifies them as gambling rather than investment, though tax treatment depends on your circumstances. Either broker handles this properly within their FCA-regulated UK entities.
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. Between 70-80% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.