XM vs CMC Markets | Fees, Features, Safety & More for 2024

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Forex Traders always look for trading with trusted and reliable forex brokers. XM and CMC Markets are Forex and CFD brokers offering online trading services globally. Both brokers are regulated by top-tier regulatory authorities. XM is regulated by two tier-1, two tier-2, and one tier-4 jurisdictions, including the ASIC, CySEC, FSCA, FSC-Belize, and DFSA.On the other hand, CMC Markets is regulated by Five Tier-1 jurisdictions, including FCA, MAS, ASIC, IIROC, FMA. These two brokers offer almost similar services. However, each broker has its own strengths and weaknesses.

In this article, we will compare and review XM with CMC Markets regarding pros and cons,  trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. This comparison lets you understand which broker is better for your trading style and preferences.

XM vs CMC Markets: In a Nutshell

XM

XM is a multiple award-winning broker that allows its clients to trade forex, CFDs, and real stocks on its MetaTrader platforms. Founded in 2009, XM has over 1000 trading instruments and multiple account types which are designed for newbies, and experienced and professional traders. Trading tools are also provided to assist the traders with market analyses. 

XM Overview
  • Founded In: 2009
  • Minimum Deposit: $5
  • Maximum Leverage: 1000:1
  • Regulations: FSC
  • Trading platform: MT4, MT5
  • Account Types: Ultra Low, Micro, Standard, Islamic
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
  • US Traders: Not Accept

CMC Markets

Founded in 1989, CMC Markets is a publicly traded broker (Ticker: CMCX). The broker is regulated in the UK, Australia, Canada, and Singapore. It offers over 9800 trading instruments, including Forex, Indices, Cryptocurrencies, Shares & ETFs, and Commodities. There is no minimum deposit requirement on IC Markets; you may deposit as low as $1. CMC Markets allows EA trading and news trading. The broker uses the most popular trading platform, MetaTrader (MT4), as its trading platform

CMC Markets Overview
  • Founded In: 1989
  • Minimum Deposit: $0
  • Maximum Leverage: 1:500
  • Regulations: ASIC
  • Trading platform: MT4 , Share trading platforms
  • Account Types: SPREAD BETTING, Fx Active, CFD Trading
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard
  • US Traders: Not Accept

XM vs CMC Markets: Pros and Cons

XM

Pros
  • Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
  • Easy and fast account opening
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
Cons
  • Dormant fees are charged after 3 months of no account activity.
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable

CMC Markets

Pros
  • Regulated by FCA, ASIC, IIROC, MAS, FMA
  • Founded in 1989, CMC Markets is publicly traded company
  • The minimum deposit is as low as $1 
  • Comparatively low spread starting from 0.7 pips
  • Allows news trading, EA/Robot trading
  • Extensive range of tradable assets 
  • Excellent education and research resources
Cons
  • Offered only MT4, no MT5, cTrader trading platforms 
  • Maximum leverage is only 1:300
  •  No passive investment programme or social trading platforms ( No PAMM, MAM accounts) 
  •  Does not accept US clients
  • Only CFD Trading 
  • High CFD spreads for certain Indices 
  • Spread betting only for UK residents

XM vs CMC Markets: Side-by-Side Comparison

XM
CMC Markets
Product
Founded In
Founded In
2009
1989
Founded By
Founded By
Constantinos Cleanthous
Peter Andrew Cruddas, Baron Cruddas
Headquarters
Headquarters
Limassol, Cyprus
London, United Kingdom
Regulations
Regulations
ASIC, CySec , FSC , DFSA, FSCA
FCA, MAS, ASIC
Min Deposit
Min Deposit
$5
None
Max Leverage
Max Leverage
1000:1
1:500
Tradable Assets
Tradable Assets
Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies
Forex , Indices, Share &ETFs, Commodities ,Cryptocurrencies, Treasuries
Fees
Fees
Spreads as low as 0.6 pips
Spread from 0.5 pips on majors
Platforms and Tools
Platforms and Tools
MT4 , MT5
MT4 , Share trading platforms
US Traders
US Traders
Not Allowed
Not Allow

XM Vs CMC Markets: Our Scores and Ratings

We rated both brokers, XM and CMC Markets, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

XM :

9.3
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.5
Trading (15%)8.4
Trading tools (10%)8.6
Customer Support (10%)9.5
Trading Education (5%)9.4

CMC Markets

9.0
CMC Markets Score
Regulation and Security (40%)9.7
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)8
Customer Support (10%)9.5
Trading Education (5%)9

Final Verdict :

XM and CMC Markets are regulated forex and CFD brokers in the industry. They offer similar trading services. Both brokers allow scalping, hedging, EA trading, and Copy trading. The minimum order size for both of them is 0.01. 

However, there are a few areas where you may find some differences. For example, the minimum deposit for XM is $5, whereas the minimum deposit for CMC Markets is $0. Additionally, the maximum leverage for XM is 1000:1.On the other hand, the maximum leverage for CMC Markets is 300:1. XM offers a Social copy trading program, while CMC Markets does not have any social trading program.

Our score for XM is 9.3, and for CMC Markets, it is 9.0. So, if you are looking for trusted Forex brokers with Social Trading services, you may choose XM. However, If you prefer another broker with similar  trading services, you may choose CMC Markets.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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