Comparison of IG vs CMC Markets [ 2024 ]

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

Your expert: Alejandro Borja

ig

IG

  • Threenvest valuation: 4,9/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 11 (CFDs)
Go crypto broker

Your expert: Xavier Tarrasó

CMC Markets

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

Main points

Fees

Average 3,4/5

Regulated

FCA, ASIC

Demo account

Yes
Low 4/5

Fees

FCA, ASIC

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 – IG offers competitive spreads and a transparent fee structure for crypto CFDs. However, the inactivity fee after 24 months can be a downside for less active traders .
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 .

Level

Average 3,4/5
Low 4/5

Brief explanation

IG’s commission structure for cryptocurrency trading primarily involves spreads and overnight funding fees. When trading CFDs on cryptocurrencies, IG charges a spread, which is the difference between the buy and sell price. This spread varies depending on the cryptocurrency being traded. For example, spreads for Bitcoin and Ethereum are typically lower due to higher liquidity, while smaller altcoins may have wider spreads. Additionally, IG charges an overnight funding fee if positions are held open past a certain time. This fee is based on the size of the position and the duration it is held. Unlike some exchanges, IG does not charge a direct commission per trade, making the spread the primary cost to consider. However, traders should be aware of the potential for overnight fees to accumulate if positions are held long-term. Overall, while IG’s fee structure can seem complex due to the combination of spreads and overnight funding fees, it remains competitive for those who trade actively and manage their positions effectively.
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.

IG

ig
Read IG review
  • Year Founded: IG was founded in 1974, giving it a long-standing reputation and extensive experience in the trading industry. This longevity demonstrates its stability and reliability as a trading platform.
  • Number of Users: IG serves over 239,000 clients worldwide, reflecting its widespread acceptance and trust among traders. A large user base often indicates a platform's credibility and reliability.
  • Security Methods: IG employs top-tier security measures, including two-factor authentication (2FA), encryption protocols, and segregated client funds, ensuring that user data and assets are well-protected.
  • Reputation and Reviews: IG has consistently received positive reviews and high ratings from users and industry experts alike. Its commitment to transparency, customer service, and innovative tools has earned it numerous awards and recognitions.
  • Regulation: IG is regulated by several top financial authorities, including the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). These stringent regulatory standards provide additional assurance of its legitimacy and trustworthiness.
  • Pros
  • Competitive spreads on crypto CFDs.
  • Extensive range of cryptocurrency options.
  • Advanced trading tools and analytics.
  • Cons
  • Platform complexity can overwhelm beginners.
  • Only offers cryptocurrency CFDs.

CMC Markets

Read CMC Markets review
  • 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.

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Product selection

Native token

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

Earns

IG does not provide staking or earning options for cryptocurrencies. It offers crypto trading primarily through CFDs .
CMC Markets does not support staking or other crypto earning programs. It provides trading through crypto CFDs and spread betting .

NFT marketplace

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

Cripto/debit card

IG does not provide a card for its clients .
CMC Markets does not offer a card for its clients .

Company information

Full name

IG Group Holdings Plc​​.
CMC Markets UK Plc​​.

Regulation

FCA (UK), ASIC, FINMA, MAS, JFSA, CFTC/NFA (USA)​​.
FCA (UK), BaFin (Germany/EU), IIROC (Canada), ASIC (Australia), FMA (New Zealand), MAS (Singapore), DFSA (Dubai)​​.

Year founded

1974​​
1989​​

Founder

Stuart Wheeler​​
Peter Cruddas​​

Payment methods

Transfers

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

Mastercard

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

Wire transfer

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

Card

Yes, IG accepts credit/debit cards (Visa, Mastercard) .
Yes, CMC Markets accepts credit/debit cards .

Comparative table

IG Features CMC Markets
IG’s low minimum trade size makes it accessible for beginners looking to start small.
Minimum Trade
The minimum trade size at CMC Markets is low, making it accessible for beginners who want to start trading with smaller amounts.
While IG offers competitive spreads, its fee structure can be confusing and relatively high due to additional charges.
Trading and Transaction Fees
While CMC Markets offers competitive spreads, the stock CFD fees are relatively high compared to other exchanges.
IG provides a limited selection of cryptocurrencies, focusing primarily on major coins like Bitcoin and Ethereum.
Number of Cryptocurrencies
With around 19 cryptocurrencies available, the selection is decent but fewer than some competitors that offer a broader range.
The platform mainly supports crypto-to-fiat trading, with fewer options for trading between different cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Trading is limited to CFDs, and there are no direct crypto-to-crypto trading pairs available, which might be a limitation for some traders.
IG excels in transparency, providing clear and detailed information about fees, regulations, and trading options.
Website Transparency
The CMC Markets website provides transparent and detailed information about its fees, regulatory status, and services, fostering trust among users.
IG does not provide a card for its clients .
Credit/Debit Card
CMC Markets does not offer a card for its clients .
IG does not offer dedicated crypto wallets, as it focuses on CFD trading rather than actual cryptocurrency ownership.
Storage Offering
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.
There are no staking or reward programs for holding cryptocurrencies on IG.
Staking and Rewards
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.
Both the mobile app and desktop platform are well-designed, offering advanced trading tools and features.
Mobile App and Desktop
CMC Markets provides high-quality mobile and desktop trading platforms with advanced features, ensuring a seamless trading experience across devices.
IG provides responsive and helpful customer service through various channels, including phone, email, and live chat.
Customer Service
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.
IG offers multiple deposit and withdrawal methods, though some may incur fees, and processing times can vary.
Deposit and Withdraw
The platform offers fast and varied deposit methods. Withdrawals are generally quick, though some methods may incur fees, which should be considered by users.

Key features

Analysis tools

IG provides advanced charting tools, technical indicators, and a highly functional mobile app. They also offer educational resources and risk management tools, including stop and limit orders .
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 .

Mobile APP

Yes, IG offers the IG Trading app, which is highly regarded and packed with features for both casual and advanced traders .
Yes, CMC Markets offers a highly functional mobile app as part of their “Next Generation” trading platform, providing extensive features for mobile trading .

Security

IG is highly trusted and regulated by multiple top-tier authorities, including the FCA and ASIC. They offer robust security features such as two-factor authentication and SSL encryption. IG also provides negative balance protection, ensuring clients do not lose more than their account balance​​.
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​​.

Additional features

IG offers a broad range of cryptocurrencies for trading via CFDs. Their platform includes robust charting tools, various order types, and 24/7 customer support. IG is regulated by top-tier authorities, ensuring a high level of security and reliability. However, their services might not be available to all regions, and they do not provide direct ownership of cryptocurrencies .
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 .

Anonymity

IG requires personal identification and verification documents for account opening, thus not supporting anonymous accounts .
CMC Markets requires identity verification during the account opening process, so anonymous accounts are not possible .

Key points

Available cryptocurrencies

IG offers trading in cryptocurrency CFDs. The available cryptocurrencies are Ripple (XRP), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), NEO, Stellar (XLM), and EOS​​.
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​​.

User-friendliness

IG’s platform is well-regarded for its usability, offering a straightforward interface for trading cryptocurrencies. The platform provides access to various educational resources and customer support, making it easier for new traders to get started. IG’s robust regulatory framework and security measures also contribute to a trustworthy trading environment .
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 .

Value for money

IG provides excellent value for money with competitive fees and a wide range of tradable cryptocurrencies. However, its fee structure can be complex, and occasional traders may find some charges, such as inactivity fees, to be less appealing​​.
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​​.

Countries of operation

United Kingdom, European Union, Australia, United States, Singapore .
United Kingdom, Australia, New Zealand, Singapore, United Arab Emirates .

Best for

IG is suitable for traders who value a well-established, regulated platform with a range of educational resources. It’s best for those who prefer trading cryptocurrency CFDs and are looking for a comprehensive trading experience with robust security measures​​.
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​​.

Account

Trading

IG provides a robust platform for trading crypto CFDs, offering a variety of cryptocurrencies with leverage options. It is well-regulated and provides excellent trading tools, making it suitable for serious traders.
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.

Deposit and withdrawal

IG offers free deposits and withdrawals through bank transfers, credit/debit cards, and PayPal. The process is quick and efficient, with most transactions processed within a few business days.
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.

Account opening process

IG offers a smooth and fast account opening process. Users fill out an online application form, provide personal and financial information, and submit verification documents. Accounts are usually approved within a day.
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.

KYC required?

KYC verification is compulsory at IG. Users are required to submit identification documents and proof of address before they can start trading.
CMC Markets requires KYC verification. Personal identification documents and proof of address must be provided during the account registration process.

Customer Service

IG offers comprehensive customer support available 24/5 through phone, email, and live chat. The support team is known for being efficient and knowledgeable, making it easy for users to get assistance.
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.

Security

IG is highly trusted and regulated by multiple top-tier authorities, including the FCA and ASIC. They offer robust security features such as two-factor authentication and SSL encryption. IG also provides negative balance protection, ensuring clients do not lose more than their account balance​​.
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​​.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I would recommend IG for its robust and secure trading platform. IG’s long-standing reputation, coupled with its strong regulatory oversight, makes it a reliable choice for cryptocurrency trading. The platform’s user-friendly interface and comprehensive educational resources are perfect for beginners, while the advanced trading tools cater to more experienced traders. However, it’s important to be aware of the complex fee structure and limited selection of cryptocurrencies. Overall, IG is a solid option for those looking to trade cryptocurrencies through a well-established broker.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

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.

Read IG review

View all comparisons against IG

Read CMC Markets review

View all comparisons against CMC Markets

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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