CMC Markets vs Forex.com: Which One is Better for You?
CMC Markets vs Forex.com, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between CMC Markets vs Forex.com, here is the direct comparison:
|Office(s)||Australia, Canada, China, Germany, Hong Kong, Italy, New Zealand, Singapore, Sweden, United Kingdom||Australia, United Kingdom, United States|
|Regulation||FCA (UK), 173730
FCA (UK), 190864
FSA (Japan), 1539
IIROC, May 10, 2012
|Minimum Position||0.0002 lot||0.1 lot|
|Payment||Credit/debit cards||Credit/debit cards, SOFORT, Wire transfer|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Chinese, Danish, Finnish, French, German, Italian, Japanese, Norwegian, Spanish, Swedish||Chinese, English|
Brian KernelJul 22 2020
Forex.com takes a long time to withdraw (it can take more than 1 week). Somehow, Forex.com is a well-known and clearly registered broker. The important thing of this broker is their pair has a suffix (EURUSD to EURUSDPRO). For EA users, this suffix is quite annoying. It must be modified related to EA code as well.
DevinaJul 22 2020
Forex.com is a good broker. I have tried the demo and planned to move to a real account sooner. My first deposit is going to be USD5,000.00. I wish it goes well xoxo
Which one has the better spread?
Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.
However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, CMC Markets provides their pricing with Fixed while Forex.com offers Variable.
CMC Markets vs Forex.com: Who hosts the best trading platform?
The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.
To support their clients, CMC Markets enables trading with CFD Platform, Spread Betting Platform. The offer is supported with Mobile trading, Browser-based platform, One-click trading, Trailing stop, Pending orders. In comparison, Forex.com provides trading with MetaTrader 4 (Limited with 30 days), DealBook 360 (Limited with 30 days), FOREXTrader PRO (Limited with 30 days), Forex.com Website Trading with the support of Browser-based platform, Pending orders.
Is CMC Markets or Forex.com better in providing the trading instruments?
It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
In this case, CMC Markets supports trading with Forex, CFD, Indexes, Soft commodities, Spread betting, Cryptocurrencies, Binary options, while Forex.com presents the ability of trading with Forex, CFD, Cryptocurrencies.
In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments. To help you decide, this article here presents complete information on what you have to consider when choosing a forex broker:
For more comparisons, visit this page.