Comparison of CMC Markets vs Plus500 [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theCMC Markets vs Plus500 comparison!

Your expert: Alejandro Borja

CMC Markets

  • Threenvest valuation: 4,7/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 11 (CFDs)
Go crypto broker

Your expert: Xavier Tarrasó

Plus500

  • Threenvest valuation: 4,6/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 10 (CFDs)
Go crypto broker

Main points

Fees

Low 4/5

Regulated

FCA, ASIC

Demo account

Yes
Low 3,7/6

Fees

FCA, CySEC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

No
Yes

Beginners

Yes

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – CMC Markets offers competitive pricing and precision with aggregated prices from multiple sources. However, the daily and overnight holding costs can be significant for long-term positions .
4.0 – Plus500 provides good value with tight spreads and no commission on trades. The inactivity fee after three months and currency conversion fees are potential downsides .

Level

Low 4/5
Low 3,7/6

Brief explanation

CMC Markets offers a competitive fee structure for cryptocurrency trading, primarily operating through spreads rather than commission-based fees. The spreads on major cryptocurrencies such as Bitcoin and Ethereum are relatively tight, making it cost-effective for traders to execute their strategies. Additionally, CMC Markets does not charge deposit fees, which is a significant advantage for traders looking to fund their accounts without incurring extra costs. However, users should be aware of potential overnight holding costs for CFD positions, which can add up if trades are held for extended periods. For cryptocurrency CFDs, the primary cost is the spread, which is the difference between the bid and ask prices. This spread is competitive with other major exchanges, particularly for popular cryptocurrencies. CMC Markets also employs a tiered spread system, where spreads can vary depending on market conditions and liquidity. This dynamic pricing model helps ensure that traders receive fair pricing, especially during times of high market volatility. Additionally, the absence of commission fees on crypto trades further enhances the platform’s attractiveness to cost-conscious traders. While there are no hidden fees, it’s important for traders to consider the overall cost of trading, including potential overnight fees for positions held beyond a day. These fees can vary based on the specific cryptocurrency and market conditions. Moreover, CMC Markets provides detailed information on all costs associated with trading on their platform, promoting transparency and helping traders make informed decisions. Overall, CMC Markets’ fee structure is designed to be straightforward and competitive, making it a strong choice for both novice and experienced cryptocurrency traders.
Plus500’s commission structure is designed to be straightforward, primarily utilizing the market spread. This means that the cost to trade is embedded in the difference between the buy and sell prices, rather than in explicit fees. For example, spreads can vary from 0.02% to 2%, depending on the cryptocurrency and market conditions. While this can be competitive, it may be higher compared to other platforms, especially for less liquid assets. In addition to the spread, Plus500 charges an overnight funding fee, which applies when positions are held open past a certain time. This fee can be either a charge or a credit, depending on the direction of the trade and the current interest rates. Additionally, there is a currency conversion fee for trades conducted in a currency different from the account’s base currency. Plus500 also implements an inactivity fee of up to $10 per month if no login activity occurs for three months, which continues to accrue until the account is active again. Despite these potential costs, Plus500 does not charge for deposits or withdrawals, which is a significant advantage. Users can fund their accounts via various methods including credit/debit cards, bank transfers, and e-wallets like PayPal. This fee structure makes Plus500 accessible and predictable for users, with the primary costs tied to the actual trading activity and specific conditions of the account .

CMC Markets

Go crypto broker
  • Year Founded: CMC Markets was founded in 1989, providing it with a long history and substantial experience in the trading industry. Its longevity is a testament to its reliability and ability to adapt to market changes over the decades.
  • Number of Users: With over 60,000 active clients globally, CMC Markets has built a large and loyal user base. This widespread adoption is a strong indicator of the platform's credibility and the trust it has earned from traders around the world.
  • Security Methods: CMC Markets employs advanced security measures, including encryption and two-factor authentication (2FA), to protect user accounts and funds. This commitment to security helps ensure a safe trading environment for all users.
  • Regulation: CMC Markets is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). This stringent regulatory oversight adds a significant layer of protection and trust for users.
  • Reputation and Reviews: CMC Markets has received positive reviews from both users and industry experts. Its reputation for reliability, advanced trading tools, and excellent customer service further solidifies its standing as a trusted exchange in the crypto market.
  • Pros
  • Wide range of cryptocurrency CFDs.
  • Competitive dynamic crypto spreads.
  • Advanced charting and analysis tools.
  • Cons
  • No real cryptocurrency ownership.
  • High stock CFD fees.

Plus500

Go crypto broker
  • Year Founded: Firstrade was established in 1985, making it one of the most experienced brokerage firms in the industry. With nearly four decades of operation, Firstrade has demonstrated stability and reliability through various market conditions​​.
  • Number of Users: Firstrade serves a large number of clients, reflecting its broad acceptance and trust within the investment community. The significant user base is a testament to its reliability and the trust it has earned over the years​​.
  • Security Methods: Firstrade employs stringent security measures to protect client accounts and personal information. The platform is regulated by top-tier authorities such as the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Additionally, Firstrade provides high investor protection through the Securities Investor Protection Corporation (SIPC), covering up to $500,000, including $250,000 for cash​​.
  • Regulation: Firstrade is fully regulated by the SEC and FINRA, ensuring compliance with strict industry standards. This regulation provides an added layer of security and transparency, assuring users that their investments are managed according to rigorous guidelines​​.
  • Customer Service: Firstrade offers robust customer service options, including phone and email support. Although not available 24/7, their customer service team is dedicated to providing helpful and relevant responses. This commitment to customer care enhances user confidence and satisfaction​​.
  • Pros
  • User-friendly interface for beginners..
  • Allows long and short positions.
  • Leverage available for major cryptos.
  • Cons
  • Only offers crypto CFDs.
  • High risk with leveraged trading.

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Product selection

Native token

CMC Markets does not have a native token.
Plus500 does not have a native token.

Earns

CMC Markets does not support staking or other crypto earning programs. It provides trading through crypto CFDs and spread betting .
Plus500 does not offer staking or earning options for cryptocurrencies. It focuses on trading crypto CFDs .

NFT marketplace

CMC Markets does not have an NFT marketplace.
Plus500 does not have an NFT marketplace.

Cripto/debit card

CMC Markets does not offer a card for its clients .
Plus500 does not offer a card for its clients .

Company information

Full name

CMC Markets UK Plc​​.
Plus500 Ltd​​.

Regulation

FCA (UK), BaFin (Germany/EU), IIROC (Canada), ASIC (Australia), FMA (New Zealand), MAS (Singapore), DFSA (Dubai)​​.
FCA (UK), ASIC, CySEC, FMA (New Zealand), FSCA (South Africa), MAS​​.

Year founded

1989​​
2008​​

Founder

Peter Cruddas​​
Alon Gonen, Shimon Sofer, Shlomi Weizmann, Elad Ben-Izhak, Gal Haber, Omer Elazari​​

Payment methods

Transfers

Yes, CMC Markets accepts bank transfers for both deposits and withdrawals .
Yes, Plus500 accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, CMC Markets accepts Mastercard for deposits​​.
Yes, Plus500 accepts Mastercard for deposits​​.

Wire transfer

Wise is not mentioned as a supported payment method. In some locations, third-party payment providers like Wise are not available .
Wise is not mentioned as a supported payment method .

Card

Yes, CMC Markets accepts credit/debit cards .
Yes, Plus500 accepts credit/debit cards .

Comparative table

CMC Markets Features Plus500
The minimum trade size at CMC Markets is low, making it accessible for beginners who want to start trading with smaller amounts.
Minimum Trade
Firstrade allows low minimum trade amounts, making it accessible for beginners to start investing in cryptocurrencies.
While CMC Markets offers competitive spreads, the stock CFD fees are relatively high compared to other exchanges.
Trading and Transaction Fees
The platform offers competitive trading fees, although some users might find hidden costs associated with certain transactions.
With around 19 cryptocurrencies available, the selection is decent but fewer than some competitors that offer a broader range.
Number of Cryptocurrencies
Firstrade supports over 30 cryptocurrencies, providing a good range of options for investors.
Trading is limited to CFDs, and there are no direct crypto-to-crypto trading pairs available, which might be a limitation for some traders.
Crypto-to-Crypto Trading Pairs
While it offers a variety of cryptocurrencies, the number of available trading pairs is somewhat limited compared to other platforms.
The CMC Markets website provides transparent and detailed information about its fees, regulatory status, and services, fostering trust among users.
Website Transparency
Firstrade’s website is transparent and informative, clearly outlining fees, security measures, and available services.
CMC Markets does not offer a card for its clients .
Credit/Debit Card
Plus500 does not offer a card for its clients .
CMC Markets does not offer direct crypto storage, as it operates through CFDs, which might not appeal to traders looking for a direct investment in cryptocurrencies.
Storage Offering
Firstrade lacks a dedicated cryptocurrency wallet, requiring users to use third-party services for storing their digital assets.
The platform does not offer any staking or rewards programs, which can be a disadvantage for traders interested in earning passive income through their holdings.
Staking and Rewards
The platform currently does not offer staking or reward programs, which can be a downside for users looking to earn passive income.
CMC Markets provides high-quality mobile and desktop trading platforms with advanced features, ensuring a seamless trading experience across devices.
Mobile App and Desktop
Firstrade offers a highly rated mobile app and a robust desktop platform, ensuring a seamless trading experience across devices.
Customer service is reliable and available 24/5, but the absence of weekend support can be a drawback for traders needing assistance outside regular hours.
Customer Service
Firstrade’s customer service is reliable but not available 24/7, which can be an inconvenience for users needing assistance outside business hours.
The platform offers fast and varied deposit methods. Withdrawals are generally quick, though some methods may incur fees, which should be considered by users.
Deposit and Withdraw
Firstrade offers a variety of deposit and withdrawal options, although the lack of instant processing for some methods can be a drawback.

Key features

Analysis tools

CMC Markets offers the “Next Generation” trading platform with advanced charting tools, technical indicators, and a comprehensive range of research tools. Their MT4 platform also supports algorithmic trading .
Plus500 offers a WebTrader platform with advanced charting tools and technical indicators. They also provide innovative tools such as +Insights and Traders’ Sentiment for market analysis .

Mobile APP

Yes, CMC Markets offers a highly functional mobile app as part of their “Next Generation” trading platform, providing extensive features for mobile trading .
Yes, Plus500 offers a user-friendly mobile app for trading CFDs on cryptocurrencies and other instruments .

Security

CMC Markets is regulated by several financial authorities, including the FCA. They provide negative balance protection for UK and EU clients. The broker is listed on the London Stock Exchange, which enhances transparency and security​​.
Plus500 is regulated by several top-tier authorities, including the FCA and ASIC. They offer negative balance protection for CFD trading and are listed on the London Stock Exchange, enhancing transparency and security​​.

Additional features

CMC Markets provides an extensive range of CFDs, including cryptocurrencies. They offer 19 cryptocurrencies for trading, such as Bitcoin, Ethereum, and Litecoin. The platform features advanced research and educational tools, including a comprehensive learning center. CMC Markets also boasts a high fill rate of 99.9%, making it a great choice for active crypto day traders. However, they do not support trading real stocks and have relatively high stock CFD fees .
Plus500 is a CFD trading platform offering a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. They provide a user-friendly WebTrader platform and a mobile app with powerful research tools. Plus500 offers competitive spreads and operates under multiple regulations, ensuring a secure trading environment. However, they do not allow the direct purchase of cryptocurrencies, only trading on price movements through CFDs .

Anonymity

CMC Markets requires identity verification during the account opening process, so anonymous accounts are not possible .
Plus500 requires identity and residence verification during the account opening process, so anonymous accounts are not supported .

Key points

Available cryptocurrencies

CMC Markets provides trading in cryptocurrency CFDs. Available cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), TRON (TRX), EOS, Stellar Lumens (XLM), Cardano (ADA), and crypto indices such as the All Crypto Index, Major Crypto Index, and Emerging Crypto Index​​.
Plus500 offers trading in cryptocurrency CFDs. The available cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), NEO, Ripple (XRP), IOTA, Stellar (XLM), EOS, Bitcoin Cash (BCH), Cardano (ADA), Tron (TRX), and Monero (XMR)​​.

User-friendliness

CMC Markets offers a powerful and versatile trading platform that caters well to crypto traders. The Next Generation platform is particularly noted for its configurability and advanced tools. However, the platform might require some time to master due to its extensive features, which can be overwhelming for beginners. Overall, it provides a comprehensive trading experience with access to multiple crypto assets .
Plus500 is known for its intuitive WebTrader platform, which simplifies the process of trading cryptocurrency CFDs. The platform is designed to be user-friendly, with a clean and minimalist interface that makes it easy to navigate. Plus500’s focus on CFDs means users do not own the underlying assets, which can be a limitation for those looking to hold actual cryptocurrencies .

Value for money

CMC Markets offers value through competitive pricing and a wide range of tradable instruments. The fees for holding positions overnight are standard, and the platform’s robust tools justify the costs, though its advanced features may be overwhelming for beginners​​.
Plus500 offers solid value for money with no deposit or withdrawal fees and a user-friendly platform. Its tight spreads and zero commission on trades are major benefits, although the minimum withdrawal amounts and inactivity fees could be drawbacks​​.

Countries of operation

United Kingdom, Australia, New Zealand, Singapore, United Arab Emirates .
United Kingdom, Australia, New Zealand, Singapore, Israel, United Arab Emirates .

Best for

CMC Markets caters to experienced traders who appreciate a powerful trading platform with extensive configurability and tools. It is best for those who are comfortable with trading crypto CFDs and are looking for a wide range of cryptocurrency indices to trade​​.
Plus500 is ideal for traders who want a simple and intuitive platform for trading cryptocurrency CFDs without the need to manage actual crypto assets. It’s best for those who prefer a straightforward, user-friendly experience with competitive spreads​​.

Account

Trading

CMC Markets offers a wide selection of crypto CFDs, allowing users to trade on price movements without owning the underlying assets. The platform is known for its advanced trading tools and competitive spreads.
Plus500 supports crypto CFD trading with a user-friendly interface and a variety of cryptocurrencies. It offers leverage and competitive spreads, making it accessible to both new and experienced traders.

Deposit and withdrawal

CMC Markets offers free deposits and withdrawals via bank transfers and credit/debit cards. The process is straightforward, though withdrawal times can be slightly longer compared to deposits.
Plus500 supports deposits and withdrawals through bank transfers, credit/debit cards, and e-wallets. Transactions are generally processed quickly, though some methods may incur small fees.

Account opening process

CMC Markets has an easy and efficient account opening process. Users complete an online application, provide personal and financial details, and upload identification documents. The process is fully digital, and accounts are usually approved quickly.
The account opening process at Plus500 is quick and fully digital. Users fill out an online form with personal and financial information, and submit verification documents. Accounts are usually approved within one business day.

KYC required?

CMC Markets requires KYC verification. Personal identification documents and proof of address must be provided during the account registration process.
KYC verification is mandatory at Plus500. Users need to provide identification documents and proof of address during the account opening process.

Customer Service

CMC Markets has a reliable customer service team available 24/5 via phone, email, and live chat. The support is known for being efficient and knowledgeable, helping users with a wide range of issues.
Plus500 offers customer support through live chat and email, but does not provide phone support. The support is available 24/7 and is known for being responsive and efficient, though the lack of phone support can be limiting.

Security

CMC Markets is regulated by several financial authorities, including the FCA. They provide negative balance protection for UK and EU clients. The broker is listed on the London Stock Exchange, which enhances transparency and security​​.
Plus500 is regulated by several top-tier authorities, including the FCA and ASIC. They offer negative balance protection for CFD trading and are listed on the London Stock Exchange, enhancing transparency and security​​.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert at Threenvest, I recommend CMC Markets for crypto traders who value a secure and user-friendly platform. The advanced charting tools and comprehensive research capabilities make it ideal for both beginners and experienced traders. While the selection of cryptocurrencies is decent, the platform’s robust security measures and regulation by top-tier financial authorities provide added peace of mind. However, keep in mind that customer support is not available on weekends, and the range of cryptocurrencies could be expanded for more trading opportunities.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert at our website, I find Plus500 to be a robust and user-friendly platform for trading cryptocurrencies. Its intuitive interface makes it ideal for beginners, while its range of available cryptocurrencies ensures that even more experienced traders can find what they need. The lack of commission fees is a significant advantage, allowing users to trade more cost-effectively. However, it’s essential to be mindful of the spreads and potential withdrawal fees. Overall, Plus500 offers a secure and efficient environment for cryptocurrency trading, backed by strong regulatory oversight and advanced security measures.

Read CMC Markets review

View all comparisons against CMC Markets

Read Plus500 review

View all comparisons against Plus500

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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