Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.

CMC Markets vs IG: Which is the better UK trading platform in 2026?

Choosing the wrong broker costs you money twice. First in wider spreads. Then in missed opportunities on a platform that does not suit how you trade.

CMC Markets and IG are two of the UK's longest-established and most trusted trading providers. Both are FCA-regulated, publicly listed on the London Stock Exchange, and offer CFDs, spread betting and forex to UK retail clients. On paper, they look similar. In practice, the differences matter – and they are more significant than most comparison sites show.

Most broker comparisons pit advertised minimum spreads against each other. Minimum spreads are a starting point, but not necessarily a trading reality. This article uses tested session data alongside published figures to show each broker’s costs across a typical trading day.

Risk warning: Spread bets and CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with CMC Markets.

69% of retail investor accounts lose money when trading spread bets and CFDs with IG. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

CMC Markets vs IG at a glance

Overall verdict: IG leads for stock traders and those who want the broadest market access or a household name with 50 years of history. CMC Markets wins on forex pair breadth and spread consistency. For the most active UK retail traders, the decision might come down to whether you primarily trade forex or stocks.

Regulation and safety: Are CMC Markets and IG FCA-regulated?

Both brokers are fully authorised and regulated by the Financial Conduct Authority (FCA). Client money is held in segregated bank accounts, and eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person.

CMC Markets UK plc (FCA registration number 173730) has been regulated in the UK since 1989. It is publicly listed on the London Stock Exchange and a constituent of the FTSE 250 index, and holds Tier-1 licences from multiple regulators globally, including ASIC (Australia), MAS (Singapore), and BaFin (Germany), as well as the FCA.

IG Markets Limited (FCA FRN 195355) has been operating since 1974 and is the older of the two. IG Group holds 11 regulatory licences in total, including authorisation from the FCA, ASIC (Australia), MAS (Singapore), BaFin (Germany), and FINMA (Switzerland). It is also a FTSE 250-listed company.

For UK traders, both brokers offer the same level of core FCA protection. IG holds a broader international regulatory footprint, which matters most if you trade across multiple jurisdictions or may relocate abroad.

Neither broker protects against trading losses, but both firms have negative balance protection, meaning losses are limited to a customer’s account balance. Regulatory protection covers firm insolvency.

Fees and spreads: CMC Markets vs IG cost breakdown

Forex Spreads: Tested Averages vs Advertised Minimums

Most broker comparisons lead with minimum spreads. A minimum spread is the tightest a broker quotes, under perfect liquidity conditions. Average tested spreads tell you what you will actually pay most of the time.

The table below shows both figures side by side, drawn from session-level spread monitoring across major instruments. The '% near min' column shows how often each broker's live spread sat within 10% of its own advertised minimum.

Source note: Session comparison data from proprietary spread monitoring. Figures represent average and minimum spreads observed across a continuous trading session. % near min = share of observations within 10% of the series minimum for that instrument. Date range: 13/04/2026 - 19/04/2026. Figures updated regularly — check broker websites for current published minimums.

*UK professional clients only

What the advertised minimum does not tell you

The spread consistency gap — and why it changes your real cost

Problem: Two brokers advertise identical minimum spreads. Most traders assume they will pay roughly the same amount. They rarely do.

The data above shows that IG's live EUR/USD spread sat within 10% of its advertised minimum just 47% of the time during the monitored session. For GBP/USD, that figure drops to 1.1%. For gold, it falls to 0.1%. CMC Markets maintained consistency above 92% across every instrument tested.

Agitate: If you place ten GBP/USD trades in a typical week, you will see IG's headline spread fewer than once in every hundred observations. The other 99 times, you are paying a wider spread — without knowing by how much until you check the ticket.

Solution: Look at average spreads alongside advertised minimums. On EUR/USD, CMC's tested average was 0.54 pips versus IG's 0.77 pips — 30% wider on average. On gold, CMC's tested average of 0.20 was nearly four times tighter than IG's 0.78. For traders who execute frequently, that difference compounds into a meaningful cost gap over a month of trading.

Stock and Index Trading Costs

UK (and European, bar Greece) share CFDs are commission-free with CMC Markets. For US stocks, IG and CMC Markets charges 2 cents per share..

For index trading, tested average spreads again favour CMC Markets. The exception is the S&P 500, where averages were broadly equivalent at 0.50 versus 0.51 points.

CMC Markets charges a £10-per-month inactivity fee after 12 months. IG's inactivity fee is £12 per month but only activates after 24 months. Infrequent traders will find IG's grace period friendlier.

Gold traders: the spread data you need to see

Gold is one of the most actively traded instruments in the UK CFD and spread betting market. The tested average spread on XAU/USD tells a significant story.

CMC Markets tested average: 0.20 | IG tested average: 0.78

That is a difference of 0.58 points per trade — nearly four times wider at IG on average. IG's advertised minimum of 0.30 looks competitive on paper. In practice, the session data shows IG traded near that minimum just 0.1% of the time. CMC Markets hit its minimum 99.7% of the time.

For a trader placing five gold trades per week at one standard lot (100 oz), a 0.58-point average spread difference equates to roughly $5.80 per round trip. At 260 trading days per year, that adds up to meaningful additional cost. The exact impact depends on your lot size, trade frequency, and the sessions in which you trade.

Note: These figures are from a monitored session and represent averages, not guarantees. Spreads vary with market conditions and liquidity. Always verify current spread data on each broker's platform before executing.

Overnight Financing and Margin Rates

Overnight financing is where a long-term position can quietly erode returns. For UK stock positions, IG charges SONIA +/- 2.5% annually; CMC Markets charges SONIA +/- 0.82%..

For professional clients, CMC Markets offers lower margin rates than IG..

Professional client status requires meeting at least two of three FCA criteria: relevant financial sector experience, a portfolio over €500,000, and 10 or more significant trades per quarter over the previous four quarters. Opting up to professional status removes key retail protections, including FCA leverage caps and negative balance protection. Consider this carefully before applying.

Trading platforms: CMC ‘Next Generation’ vs IG web trader

Desktop and Web Platforms

CMC Markets runs its powerful, proprietary ‘Next Generation’ platform. It is browser-based, requires no download, and offers advanced charting with over 115 technical indicators, pattern recognition tools, a streaming Reuters newsfeed, and a client sentiment overlay that lets you filter by profitable traders. CMC’s platform was awarded ‘Best in Class’ for an eight consecutive year at the ForexBrokers.com Awards 2026.

IG's web platform is clean, fast and intuitive. It integrates Reuters live news, a built-in ProRealTime charting tool (free with modest monthly trading activity), and access to IG Academy educational content. IG ranked #1 for Platforms & Tools by ForexBrokers.com in 2025.

Both platforms offer free demo accounts with no expiry. Neither requires a funded live account to access demo mode.

MetaTrader 4 (MT4) Availability

Both CMC Markets and IG support MetaTrader 4. This matters for algorithmic traders who run Expert Advisors (EAs) or rely on custom indicators. CMC Markets also supports MT5 in certain regions (but not currently in the UK, as at May 2026). IG offers MT4, ProRealTime, and its L2 Dealer platform for direct market access.

CMC Markets' MT4 integration is considered marginally more seamless in independent testing (ForexBrokers.com, January 2026). In practice, either broker will work well for standard EA-based strategies.

Mobile Trading Apps (iOS and Android)

CMC Markets won Best Mobile Trading Platform at the ADVFN International Financial Awards 2025. IG's app was Runner-up for Best Trading App in the same year. Both apps support full order management, charting, and price alerts.

IG's mobile app includes built-in trading signals. CMC Markets' app enables access to mobile-optimised charting, advanced order ticketing functionality, plus trade execution and price alert notifications. For traders who rely on prompts from their phone, IG may have a marginal edge. For those who execute decisions already made, the apps are equivalent.

Markets and instruments: What can you trade?

Forex Currency Pairs

CMC Markets offers 300+ forex pairs, and was ranked No.1 for Most Currency Pairs by ForexBrokers.com in 2026. This covers majors, minors, and a wide range of exotics. IG offers 80+ currency pairs, covering the majors and most actively traded minors.

For exotic pair strategies or emerging market currency traders, CMC Markets is the clear choice. IG's 80+ pairs cover the needs of most retail traders but offer less depth in lower-liquidity markets.

Stocks, Indices and Commodities

IG offers 17,000+ instruments in total, including 13,000+ stocks, global indices, commodities, ETFs, bonds, and options. It also supports direct stock investing (not just spread betting and CFDs), a stocks and shares ISA, a general investment account (GIA), a self-invested person pension (SIPP), and a Junior Cash ISA, plus weekend trading on major indices including the FTSE 100 and DAX.

CMC Markets offers 13,000+ instruments, including 11,000+ share CFDs, as well as indices, forex, commodities, ETFs, rates and bonds, plus options. It also offers direct stock ownership via it’s ‘equities’ product on its multi-asset platform, as well as a range of ISAs (Stocks and Shares, Cash, and Junior Cash), a GIA, and a SIPP, via its CMC Invest app.

CMC Markets vs IG for forex trading

For forex, CMC Markets leads on three fronts: pair breadth (30+ vs 80+), spread consistency (98%+ near minimum vs IG's 47% on EUR/USD), and copy trading via its chart forum tool – a feature IG does not offer.

Tested average spreads across EUR/USD, GBP/USD, and USD/JPY all favoured CMC Markets by between 30% and 37%. For a trader executing multiple times daily, that is a compounding cost advantage that advertised minimums alone do not reveal.

IG's DMA Forex Direct account is worth examining for professional-level traders who want direct market access. It requires a £1,000 minimum deposit and includes commission on every trade, which suits high-volume strategies rather than retail swing trading.

Verdict: CMC Markets for most retail forex traders. IG for DMA-focused professionals with large order sizes.

CMC Markets vs IG for stock trading

For stock trading both providers offer over 11,000 international shares, and direct equity investing. commission-free US stock trading, and a stocks and shares ISA.

Where stocks are traded as CFDs, CMC charges 0% commission on UK and European shares (excluding Greece shares), whereas IG charges 0.10% commission per side, with a minimum fee of £10. For US share CFDs, both provides charge 2-cents-per-share model. With spread betting, the costs are mirrored in an additional spread which is baked into the price you see. As with CFDs, CMC doesn’t add an additional spread on UK and European share CFDs.

IG's L2 Dealer platform offers direct market access for equities with level 2 order book data. CMC Markets does not offer DMA for stocks.

Verdict: It depends on how you trade, but overall it’s a close call between the two. CMC offers more cost-effective access to share CFDs on UK and European stocks, while both offer the ability to invest in shares via access to thousands of global shares – IG offers approximately 1,000 more shares at the time of writing. IG also offers a direct market access (DMA) share service, with no dealer intervention, full market depth and access to dark liquidity pools.

Account opening, deposits and withdrawals

Both brokers require standard identity checks under UK anti-money laundering rules. Account opening is online and typically takes under 30 minutes. You will need a valid photo ID and recent proof of address.

Neither broker has a minimum deposit requirement for UK clients. You need enough margin to open a position, but there is no mandatory top-up threshold. Both support bank transfer, and card deposits. Neither charges deposit or withdrawal fees.

CMC Markets applies a £10-per-month dormant account fee after 12 months of no trading activity. IG's equivalent charge is £12 per month, but only triggers after 24 months. Infrequent or seasonal traders may find IG's grace period more forgiving.

Customer reviews and reputation

CMC Markets holds a Trustpilot score of 4.3 out of 5, based on 3,012 reviews (CompareForexBrokers.com, 2026). IG's Trustpilot score is 3.8 out of 5 from over 9,100 reviews (CompareForexBrokers.com, 2026). The larger sample for IG partly reflects its larger client base..

CMC Markets ranked #4 out of 63 brokers in ForexBrokers.com's 2025 broker rankings; IG ranked #7.

Both brokers are publicly listed companies, which brings a level of financial transparency and accountability that private brokers do not face.

Which is better for beginners?

If you are opening your first live CFD or spread betting account, the choice comes down to what you plan to trade and how you prefer to learn.

IG offers a structured educational path through IG Academy, a clean and intuitive interface, and 50 years of history in the UK market. Its demo account is robust and its research tools are among the strongest available. For a first-time trader who wants structure and simplicity, IG is the easier starting point.

CMC Markets' ‘Next Generation’ platform is sophisticated and may feel feature-heavy at first. It offers strong educational content, a free demo account, and copy trading – which lets you follow and replicate experienced traders while you build your own approach.

Neither broker is marketed specifically as a beginner platform, and neither protects your capital – every pound deposited carries the risk of being lost.

CMC Markets vs IG: Pros and cons summary

Does CMC Markets have lower spreads than IG?

Which broker is better for forex trading: CMC or IG?

Can I use MT4 with CMC Markets or IG?

Does IG or CMC Markets offer spread betting in the UK?

Is there a minimum deposit with CMC Markets or IG?

Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.