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Broker 2

VS field	CMC Markets cmcmarkets.com CFD BrokerForex BrokerCommodity CFD	IC Markets icmarkets.com Forex BrokerMulti Asset BrokerStock CFD
Decision summary
Overall score

Trust score	87	99

Cost score	78	85

Platform score	92	94

Withdrawal score	77	86

Best for	Best suited to active traders and investors wanting a well-regulated, multi-asset platform with strong proprietary tools and broad CFD/forex coverage; publish with prominent regio…	Experienced forex/CFD traders · Scalpers, day traders and algorithmic traders comfortable with high-risk leveraged products · Users who specifically need MT4/MT5, cTrader or Tradi…

Watch out	Needs verification	Long-term investors seeking physical stocks/ETFs · Beginners who need strong statutory investor compensation or negative balance protection · Residents of restricted countries or…

Trust & regulation
Regulators	CMC Markets group entities are regulated by FCA, ASIC, MAS, CIRO, BaFin, DFSA, and BMA, depending on client jurisdiction/entity. Source	Financial Services Authority of Seychelles (FSA) Source
License numbers	Known official registration/licence references include FCA 173730, FCA 948126, AFSL 238054, AFSL 246381, UEN 200605050E, BaFin 154814, DFSA f002740, Bermuda company 202302718, and CIRO/CIPF membership. Source	Securities Dealer license number SD018 Source
Regulated entities	Multiple local CMC Markets entities are disclosed; client entity depends on jurisdiction and product. Source	Raw Trading Ltd, registered in Seychelles (registration number 8419879-1), regulated by the Financial Services Authority of Seychelles with Securities Dealer license SD018. Source
Negative balance protection	Retail negative balance protection is disclosed for UK leveraged accounts and Bermuda retail clients; not available to professional clients; not applicable to cash equities. Source	No negative balance protection found for the reviewed global entity; IC says clients bear negative consequences and are responsible for any negative balance. Source
Investor compensation	UK eligible clients: FSCS up to £85,000. Canada: CIPF membership. Other jurisdictions reviewed disclose segregation but no comparable amount in sources checked. Source	Client funds insurance up to US$1,000,000; no statutory investor compensation scheme found in reviewed official sources. Source
Restricted countries	CMC states CFD services are not available to US residents; iOS app access is limited to listed permitted regions; broader availability depends on local law and entity. Source	Raw Trading Ltd does not provide services to residents of the United States of America, Canada, New Zealand, Iran, North Korea (DPRK), or countries where distribution/use would be contrary to local law or regulation. Source

Trust & regulation

Regulators

CMC Markets group entities are regulated by FCA, ASIC, MAS, CIRO, BaFin, DFSA, and BMA, depending on client jurisdiction/entity.

Source

Financial Services Authority of Seychelles (FSA)

Source

License numbers

Known official registration/licence references include FCA 173730, FCA 948126, AFSL 238054, AFSL 246381, UEN 200605050E, BaFin 154814, DFSA f002740, Bermuda company 202302718, and CIRO/CIPF membership.

Source

Securities Dealer license number SD018

Source

Regulated entities

Multiple local CMC Markets entities are disclosed; client entity depends on jurisdiction and product.

Source

Raw Trading Ltd, registered in Seychelles (registration number 8419879-1), regulated by the Financial Services Authority of Seychelles with Securities Dealer license SD018.

Source

Negative balance protection

Retail negative balance protection is disclosed for UK leveraged accounts and Bermuda retail clients; not available to professional clients; not applicable to cash equities.

Source

No negative balance protection found for the reviewed global entity; IC says clients bear negative consequences and are responsible for any negative balance.

Source

Investor compensation

UK eligible clients: FSCS up to £85,000. Canada: CIPF membership. Other jurisdictions reviewed disclose segregation but no comparable amount in sources checked.

Source

Client funds insurance up to US$1,000,000; no statutory investor compensation scheme found in reviewed official sources.

Source

Restricted countries

CMC states CFD services are not available to US residents; iOS app access is limited to listed permitted regions; broader availability depends on local law and entity.

Source

Raw Trading Ltd does not provide services to residents of the United States of America, Canada, New Zealand, Iran, North Korea (DPRK), or countries where distribution/use would be contrary to local law or regulation.

Source

Costs & account conditions
Minimum deposit	No minimum deposit for UK/international trading accounts; UK equities page states minimum deposit amount £1 for share/ETF investing. Source	No minimum deposit requirement disclosed for opening a trading account. Source
Spread from	Spreads from 0.2 points on UK spread betting/CFD account comparison; FX Active from 0.0 pips on six major FX pairs; international advertises 0.0 pips FX minimum spread. Source	Spreads from 0.0 pips on MetaTrader/cTrader Raw Spread platforms; Standard account spread starts from 0.8 pip. Source
Commission	Commission varies by account/product: UK equities 0%; FX Active 0.0025% per transaction ($2.50 per $100k); share/ETF CFD commissions vary by market/account table. Source	Standard: no commission, 0.8 pip markup. Raw Spread MetaTrader: USD $3.50 per lot per side / $7 round turn. cTrader/TradingView: USD $3 per $100,000 traded per side. Source
Maximum leverage	Maximum leverage is entity/jurisdiction dependent: UK retail table shows 30:1; international page shows 1:200 maximum retail leverage; ASIC rules impose product-specific caps. Source	IC offers flexible leverage from 1:1 to 1:5000; leverage is dynamic and may change at any time. Source
Deposit fee	UK deposits are free from CMC; external card issuer/bank charges may apply. Other regions require review of platform/client portal or local fee schedules. Source	IC does not charge additional deposit fees; bank/intermediary fees may apply. Source
Withdrawal fee	UK card and standard bank transfer withdrawals: no CMC charge; international transfers may carry fees displayed on platform. Source	IC does not charge additional withdrawal fees, but third-party/intermediary/bank fees can apply; one Help Centre example mentions 20 AUD bank fee for some bankwire paths. Source
Inactivity fee	UK leveraged accounts: £10/month after one year of inactivity if funds are available; no negative balance from dormancy; equities marked N/A in account comparison. Source	No account inactivity fees. Source

Costs & account conditions

Minimum deposit

No minimum deposit for UK/international trading accounts; UK equities page states minimum deposit amount £1 for share/ETF investing.

Source

No minimum deposit requirement disclosed for opening a trading account.

Source

Spread from

Spreads from 0.2 points on UK spread betting/CFD account comparison; FX Active from 0.0 pips on six major FX pairs; international advertises 0.0 pips FX minimum spread.

Source

Spreads from 0.0 pips on MetaTrader/cTrader Raw Spread platforms; Standard account spread starts from 0.8 pip.

Source

Commission

Commission varies by account/product: UK equities 0%; FX Active 0.0025% per transaction ($2.50 per $100k); share/ETF CFD commissions vary by market/account table.

Source

Standard: no commission, 0.8 pip markup. Raw Spread MetaTrader: USD $3.50 per lot per side / $7 round turn. cTrader/TradingView: USD $3 per $100,000 traded per side.

Source

Maximum leverage

Maximum leverage is entity/jurisdiction dependent: UK retail table shows 30:1; international page shows 1:200 maximum retail leverage; ASIC rules impose product-specific caps.

Source

IC offers flexible leverage from 1:1 to 1:5000; leverage is dynamic and may change at any time.

Source

Deposit fee

UK deposits are free from CMC; external card issuer/bank charges may apply. Other regions require review of platform/client portal or local fee schedules.

Source

IC does not charge additional deposit fees; bank/intermediary fees may apply.

Source

Withdrawal fee

UK card and standard bank transfer withdrawals: no CMC charge; international transfers may carry fees displayed on platform.

Source

IC does not charge additional withdrawal fees, but third-party/intermediary/bank fees can apply; one Help Centre example mentions 20 AUD bank fee for some bankwire paths.

Source

Inactivity fee

UK leveraged accounts: £10/month after one year of inactivity if funds are available; no negative balance from dormancy; equities marked N/A in account comparison.

Source

No account inactivity fees.

Source

Markets, platforms & payments
Tradable assets	Tradable universe includes forex, indices, commodities, shares, ETFs, rates/bonds/treasuries, options and some crypto CFDs, with counts varying by jurisdiction and platform. Source	Forex CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Bonds CFDs, Cryptocurrency CFDs, Futures CFDs. Source
Trading platforms	CMC proprietary web/mobile platforms, MT4, MT5 (international/Canada), and TradingView integration; exact availability varies by region/account. Source	MetaTrader 5, MetaTrader 4, cTrader, TradingView, MetaTrader WebTrader/cTrader Web and social/copy tools IC Social, Signal Start, ZuluTrade. Source
Account types	Official account types include equities, CFD trading, options, FX Active, spread betting, corporate CFD, and CMC Invest plans depending on jurisdiction. Source	Official pages list Standard, Raw Spread, cTrader Raw Spread and Swap Free; account overview also shows Raw Pro and Raw Pro+ entries. Source
Deposit methods	Deposit methods vary by region: UK card/online banking/bank transfer; international card/bank transfer/crypto via Binance Pay/Neteller/Skrill; Canada CAD/USD credit card and wire transfer. Source	Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, wire transfer, Bpay, broker-to-broker, POLI, Thai Internet Banking, Rapidpay, Klarna, Vietnamese Internet Banking, cryptocurrency. Source
Withdrawal methods	UK withdrawals by card or bank transfer; international page advertises nominated bank account, card, cryptocurrency or digital wallet; third-party payments rejected/not supported. Source	Withdrawal methods depend on original deposit method; examples include Visa/Mastercard/card routes, bank wire, Neteller, Skrill and PayPal. Source
Withdrawal processing time	UK: same-day internal processing before cut-off for registered bank details; card issuer timing within an hour to five working days; domestic bank 1-2 working days; international bank 3-5 working days. Source	Same-business-day processing cutoff before 12:00 AEST/AEDT; after processing allow at least 3 business days depending on method. Source

Markets, platforms & payments

Tradable assets

Tradable universe includes forex, indices, commodities, shares, ETFs, rates/bonds/treasuries, options and some crypto CFDs, with counts varying by jurisdiction and platform.

Source

Forex CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Bonds CFDs, Cryptocurrency CFDs, Futures CFDs.

Source

Trading platforms

CMC proprietary web/mobile platforms, MT4, MT5 (international/Canada), and TradingView integration; exact availability varies by region/account.

Source

MetaTrader 5, MetaTrader 4, cTrader, TradingView, MetaTrader WebTrader/cTrader Web and social/copy tools IC Social, Signal Start, ZuluTrade.

Source

Account types

Official account types include equities, CFD trading, options, FX Active, spread betting, corporate CFD, and CMC Invest plans depending on jurisdiction.

Source

Official pages list Standard, Raw Spread, cTrader Raw Spread and Swap Free; account overview also shows Raw Pro and Raw Pro+ entries.

Source

Deposit methods

Deposit methods vary by region: UK card/online banking/bank transfer; international card/bank transfer/crypto via Binance Pay/Neteller/Skrill; Canada CAD/USD credit card and wire transfer.

Source

Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, wire transfer, Bpay, broker-to-broker, POLI, Thai Internet Banking, Rapidpay, Klarna, Vietnamese Internet Banking, cryptocurrency.

Source

Withdrawal methods

UK withdrawals by card or bank transfer; international page advertises nominated bank account, card, cryptocurrency or digital wallet; third-party payments rejected/not supported.

Source

Withdrawal methods depend on original deposit method; examples include Visa/Mastercard/card routes, bank wire, Neteller, Skrill and PayPal.

Source

Withdrawal processing time

UK: same-day internal processing before cut-off for registered bank details; card issuer timing within an hour to five working days; domestic bank 1-2 working days; international bank 3-5 working days.

Source

Same-business-day processing cutoff before 12:00 AEST/AEDT; after processing allow at least 3 business days depending on method.

Source

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