CMC Markets Key Features


Visit CMC Markets
67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
CMC Markets Reviews
Total Markets9300
Forex Pairs71
Commodities33
Indices22
UK Stocks629
US Stocks3441
Cryptocurrencies13
Broker specifics
2019 Revenue£130.800,000
Number Active Clients53,308
Minimum Deposit£100
Inactivity Fee£10 per month
Founded1989
FX Retails SpreadsCMC Markets
EUR/USD Euro vs US Dollar0.7
GBP/USD British pound vs US dollar0.9
USD/JPY US Dollar vs Japanese Yen0.7
EUR/GBP Euro vs British Pound0.11
AUD/USD Australian Dollar vs US Dollar0.14
USD/CAD US Dollar vs Canadian Dollar1.7
USD/CHF US Dollar vs Swiss Franc1
NZD/USD NZ Dollar vs US Dollar0.18
EUR/JPY Euro vs Japanese Yen0.15
EUR/AUD Euro vs Australian Dollar0.16
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CAD US Dollar vs Canadian Dollar30:01:00
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar20:01
Commodity Spreads
WTI crude (oil)0.3
Brent crude (oil)0.3
Natural Gas0.8
Gold0.3
Silver0.25
Copper (comex)0.3
Corn0.9
Wheat0.8
Soyabeans1.5
Gasoline RBOB80
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Corn10:01
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheat10:01
Soyabeans10:01
Gasoline RBOB10:01
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)2.4
Standard & Poor’s 500 (S&P 500)0.5
Nasdaq (Composite and Nasdaq 100)2
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)1
CAC 40 (France 40)1
DAX (Germany 30)1
Euro Stoxx 50 (Euro 50)1.6
Japan 225 (Nikkei 225)15
Hong Kong (Hang Seng Index)5
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreads0.10%
US Stock Spreads$0.02 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Margins05:01
Overnight Financing Rates
Forex (tom next plus or minus )0.00%
CommoditiesVariable based on differentials between front month future, cash price and days to carry to futures expiry
Indices
UK Stocksinterbank rate +/-0.0082%
US Stocksinterbank rate +/-0.0082%
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City Index Key Features


Visit City Index
70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
City Index Reviews
Total Markets12,000
Forex Pairs84
Commodities25
Indices21
UK Stocks?
US Stocks?
Broker specifics
2019 Revenue£41,570,000 (until q3 2019)
Number Active Clients126,000
Minimum Deposit£100
Inactivity Fee£12 per month
Founded1983
FX Retails SpreadsCity Index
EUR/USD Euro vs US Dollar0.5
GBP/USD British pound vs US dollar0.9
USD/JPY US Dollar vs Japanese Yen0.6
EUR/GBP Euro vs British Pound0.9
AUD/USD Australian Dollar vs US Dollar0.5
USD/CAD US Dollar vs Canadian Dollar0.19
USD/CHF US Dollar vs Swiss Franc0.15
NZD/USD NZ Dollar vs US Dollar0.22
EUR/JPY Euro vs Japanese Yen0.17
EUR/AUD Euro vs Australian Dollar0.42
FX Retail Margins
EUR/USD Euro vs US Dollar30:01:00
GBP/USD British pound vs US dollar30:01:00
USD/JPY US Dollar vs Japanese Yen30:01:00
EUR/GBP Euro vs British Pound30:01:00
AUD/USD Australian Dollar vs US Dollar20:01
USD/CAD US Dollar vs Canadian Dollar30:01:00
USD/CHF US Dollar vs Swiss Franc30:01:00
NZD/USD NZ Dollar vs US Dollar20:01
EUR/JPY Euro vs Japanese Yen30:01:00
EUR/AUD Euro vs Australian Dollar30:01:00
Commodity Spreads
WTI crude (oil)0.3
Brent crude (oil)0.23
Natural Gas0.18
Gold0.8
Silver0.2
Copper (comex)0.4
Corn0.1
Wheat1
Soyabeans1.5
Gasoline RBOBnot quoted
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Commodity Margins
WTI crude (oil)10:01
Gold20:01
Corn10:01
Brent crude (oil)10:01
Natural Gas10:01
Silver10:01
Copper10:01
Wheat10:01
Soyabeans10:01
Gasoline RBOBnot quoted
Steelnot quoted
Aluminiumnot quoted
Ironnot quoted
Index Spreads
Dow Jones Industrials Average (US 30)3.5
Standard & Poor’s 500 (S&P 500)0.4
Nasdaq (Composite and Nasdaq 100)1
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)1
CAC 40 (France 40)1.3
DAX (Germany 30)1.2
Euro Stoxx 50 (Euro 50)1.9
Japan 225 (Nikkei 225)10
Hong Kong (Hang Seng Index)20
Index Margins
Dow Jones Industrials Average (US 30)20:01
Standard & Poor’s 500 (S&P 500)20:01
Nasdaq (Composite and Nasdaq 100)20:01
Dow Jones Industrials (DJIA)not quoted
UK FTSE 100 (FTSE 100)20:01
CAC 40 (France 40)20:01
DAX (Germany 30)20:01
Euro Stoxx 50 (Euro 50)20:01
Japan 225 (Nikkei 225)20:01
Hong Kong (Hang Seng Index)10:01
Stocks & Shares Spreads
UK Stock Spreads0.80%
US Stock Spreads$0.018 per share
Stocks & Shares Margins
US Stock Margins05:01
UK Stock Margins05:01
Overnight Financing Rates
Forex (tom next plus or minus )variable based on instrument and swap rates
CommoditiesVariable based on differentials between front month future, cash price and days to carry to futures expiry
IndicesLibor +/-2.50%
UK StocksLibor +/-2.50%
US StocksLibor +/-2.50%
Compare AlternativesCity Index Versus IG
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Which trading platform has the best customer reviews?

CMC Markets has better customer reviews than City Index when ranked using the unique Good Money Guide multi-factor scoring system to assess and rank customer reviews. CMC Markets are the clear winner here both in terms of the average scores in our system and on key metrics such as the number of customer reviews posted and app store ratings. City Index comes second in 6 out of 7 of our multifactor criteria.

CMC Markets scores 4.50 in our Good Money Guide ratings compared to City Index‘s score of 3.0. CMC Markets mobile trading app has been reviewed 1200 times in the Apple app store and over 2000 times in the Google play store. The CMC Markets app scores 4.1 out of 5 in the app store and 3.1 out of 5 in Google play compared to scores of 3.9 and 3.1 out of 5 for City Index mobile app.

Find out why customer reviews are important

Which trading platform offers the most markets?

City Index offers 33% more markets to trade for clients to trade than rivals CMC Markets. From the data in our broker matrix, we find that City Index offers the most trading instruments with 12,000 available to its customers versus just 9300 offered at CMC Markets. Though CMC does offer more commodity markets, with 33 markets available compared to City Index’s 25. CMC Markets offers 22 equity index instruments compared to CityIndex's 21.

Find out why market access is important

Which trading platform offers the most platforms?

CMC Markets and City Index have the same score in this metric, each of them offers their own in-house web-based trading platform, alongside Android and iOS mobile versions of the same. Both brokers also offer the Metaquotes MT4 platform, in its desktop and mobile versions.

Find out why trading platforms are important

Which trading platform offers the most different types of account?

CMC Markets offers more account types than City Index as they also offer prime brokerage. CMC Markets and City Index offer FX, CFD and Spread Betting accounts, to both retail and professional customers.

Neither firm currently has accounts that offer Direct Market Access (DMA) or on-exchange futures and options trading. Nor do they have accounts for physical share dealing and investing for UK customers. However CMC Markets also provides institutional accounts and Prime Brokerage, whilst it’s possible to trade on exchange futures, through City Index’s parent company StoneX Group. Neither firm currently has accounts for physical share dealing and investments.

Find out why account types are important

Which trading platform is a more established business?

City Index is more established compared to CMC Markets as it was founded in 1983, six years before CMC Markets was founded. City Index has been through several owners including Gain Capital and the Stonex Group. Whilst CMC Markets was in private ownership before listing on the London Stock Exchange. CMC Markets is UK listed and a FTSE 250 constituent, whilst City Index is part of the StoneX Group, which is listed on Nasdaq

Find out why a trading platforms history is important

Which trading platform has the lowest trading costs?

City Index has the lowest average spreads across the 10 actively traded pairs that we sampled. Whilst in equity indices CMC Markets have the tightest spreads and therefore the lower trading costs. When it comes to trading individual equities CMC markets are cheaper for CFDs and Spread Bets on UK stocks, whilst City Index is the most competitive in US equities.

When we look at trading costs City Index edges ahead of CMC Markets as far as average FX spreads are concerned.

In commodity markets, it’s less clear cut with CMC Markets having the tightest spread on gold, whilst City Index is cheaper on Brent crude for example. In equity indices, CMC markets are the leader with an average spread, in the products we sampled, of 3.28 points compared to City’s 4.48 points.

Find out why trading costs are important

Which trading platform offers the most margin?

CMC Markets offers higher rates of leverage to professional customers than City Index, with ratios of up to 500:1 compared to a maximum of 400:1 at City Index.

Margins for retail traders are set at the FCA/ESMA thresholds at both CMC Markets and City Index, these are the maximum leverage ratios permitted under the current UK and European legislation.

Find out why leverage and margin are important

Which trading platform offers the lowest overnight financing rates?

CMC Markets is more expensive than City Index, In those instruments where we can market a direct comparison, such as UK equities. Charging +/- 2.93% over LIBOR or equivalent sterling benchmark, whilst City Index charges +/- 2.50% over LIBOR. City Index is also cheaper than CMC Markets when it comes to the overnight funding of US equity positions.

Find out why overnight financing rates are important

Which trading platform offers the most added value?

CMC Markets is the winner here with 6 points of added value compared to the 5 points provided by City Index. The main point of difference is the sentiment and positioning tools that CMC Markets offers its customers, which City Index doesn't have. Each of these brokers trading platforms is feature-rich and both firms offer educational programs, alongside research and analysis.

These educational programs allow clients to learn about trading and trading strategies and market terminology etc, whilst research and analysis provides insight on market-moving events and can highlight trading opportunities to clients.

Find out why added value is important

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