An overall comprehensive side-by-side comparison of CMC Markets vs IG. CMC Markets is well-respected around the world and provides an exceptional trading experience with its competitive pricing and variety of close to 12,000 products. But how does this broker compare against one of the oldest, most versatile forex and CFD brokers, IG?
In this in-depth write-up, you will learn:
- CMC Markets vs IG broker comparison for South African traders
- CMC Markets vs IG spreads, fees, and trading costs explained
- Is CMC Markets or IG better for beginner forex trading in 2026
- CMC Markets vs IG regulation, safety, and client fund protection
- CMC Markets vs IG platforms, tools, and account types review
- IG vs CMC Markets: minimum deposit, leverage, and trading conditions
🏆10 Best Forex Brokers in South Africa
| Rank | Broker | Broker Review | Regulators | Minimum Deposit | Visit Broker |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | $100 | Visit Now |
| 🥈 |  | Read Review | FSCA, FCA, DFSA, FSA, CMA | $0 | Visit Now |
| 🥉 |  | Read Review | CySEC, IFSC, DFSA, FCA | $5 | Visit Now |
| 4 |  | Read Review | ASIC, CySEC, FSA, SCB | $200 | Visit Now |
| 5 |  | Read Review | FSA, FSCA | $250 | Visit Now |
| 6 |  | Read Review | FSA, FSC, FSCA, ASIC, CMA | $20 | Visit Now |
| 7 |  | Read Review | FSC, FSCA | $50 | Visit Now |
| 8 |  | Read Review | ASIC, CySEC, FSCA, FSA, FSC, CMA | $100 | Visit Now |
| 9 |  | Read Review | CySEC, MWALI, FSCA | $25 | Visit Now |
| 10 |  | Read Review | FSA, CySEC, FSCA, FSC | $10 | Visit Now |
Which Broker Is Better for South African Traders?
| 🔎 Category |  |  |
| 💰 Fees | Spreads: from 0.0–0.7 pips on major forex pairs on FX Active accounts, with spread discount on others. Commission: low fixed commissions—for active forex, ~0.0025% on FX Active; share CFDs vary by market. Overnight/holding fees: apply. Deposit/Withdrawal: Generally no broker fees for deposits/withdrawals; third‑party/bank fees may apply. Inactivity fee: ~£10/mo after a period. | Spreads: competitive variable spreads (e.g., from ~0.6 pips on forex and wider on indices). Commission: charged on some share CFDs (e.g., 0.1–0.35% on UK shares; other markets vary). Overnight funding: built into pricing for some instruments; separate for others. Deposit/Withdrawal: free to open account; typical funding/withdrawal methods with no broker fees. Currency conversion charges may apply. |
| 🏛️ Regulation | Regulated by multiple top authorities including FCA (UK), ASIC (Australia), MAS (Singapore), FMA (New Zealand) and BMA (Bermuda). Client funds are segregated; negative balance protection varies by entity. | Highly regulated globally, including FCA (UK), ASIC (Australia) and FSCA (South Africa) for local services. CFD trading offered under principal‑to‑principal and OTC derivatives frameworks client funds are segregated under regulatory rules. |
| 🖥️ Platforms | Next Generation proprietary platform with advanced charting and research. MetaTrader 4 (MT4) and MetaTrader 5 (MT5). TradingView integration. Mobile and web trading available. | Offers IG proprietary platform with robust charting and alerts. Support for MetaTrader 4 (MT4), ProRealTime, L2 Dealer, TradingView integration. Mobile apps and web platform with news and analysis tools. |
| 📍 Typical Trader Profile | Suited for active traders and technical analysts who value a combination of powerful proprietary tools plus MetaTrader support and low spreads with flexible pricing. Good for traders wanting large instrument selection. | Ideal for multi‑asset traders who want access to a very broad range of markets (forex, CFDs, shares, commodities, options, bonds and more), strong research material, and advanced platforms. Beginner to professional profiles both catered for. |
| 💰 Minimum Deposit | $0 | $0 |
| 🚀Open an Account | 👉Open Account | 👉Open Account |
Regulation Comparison
| 🔍 Features | | |
| ⭐ Trust Score | 99 | 99 |
| 📅 Year founded | 1989 | 1974 |
| 📊 Publicly Traded | Yes | Yes |
| 🇿🇦 Licensed in South Africa | No | Yes |
| 🥇 Tier-1 Regulation | 5 | 8 |
| 🥈 Tier-2 Regulation | 1 | 3 |
| 🥉 Tier-3 Regulation | 0 | 1 |
Assets Comparison
| 🔍 Features | | |
| CFDs | Yes | Yes |
| Bonds | Yes (CFDs) | Yes |
| Commodities | Yes | Yes |
| ETFs | Yes | Yes |
| Treasuries | Yes (CFDs) | Yes (instruments vary) |
| Indices | Yes | Yes |
| Options | No (CFDs) | Yes (some options available) |
| Futures | No (CFDs – not straight futures) | Yes (via CFDs or derivatives) |
| Precious Metals | Yes | Yes |
| Energies | Yes | Yes |
| Individual Shares | Yes (CFDs) | Yes (CFDs and share dealing) |
| US Stock Trading | Yes (via CFDs) | Yes (CFDs and direct share dealing) |
| International Stock Trading | Yes | Yes |
| Cryptocurrency CFDs | Yes | Yes |
| Physical Crypto | No | Yes (depending on region) |
Fees Comparison
| 🔍 Features | | |
| 💰 Average Spread for EUR/USD | 0.7 pips | 0.1 pips |
| 💰 Commissions Charged | No | Yes |
| 💰 ECN Execution | No | Yes |
| 💰 Market Maker Execution | Yes | Yes |
| 💰 Inactivity Fee | Yes | Yes |
| 💰 Currency Conversion Fees | Yes | Yes |
| 💰 Deposit Fee | No | No |
| 💰 Withdrawal Fee | No | No |
Account Types Comparison
| 🔍 Features | | |
| 📒 Standard Account | Yes | Yes |
| 📒 Cent Account | No | No |
| 📒 Commission-Free Account | Yes | No |
| 📒 ECN Account | No | No |
| 📒 Demo Account | Yes | Yes |
| ☪️ Islamic/Swap-Free Account | No | Yes |
| 📒 Managed Accounts | No | Yes |
| 📒 Share Dealing Account | No | Yes |
Trading Conditions Comparison
| 🔍 Features | | |
| 📊 Hedging | Yes | Yes |
| 📊 Scalping | Yes | Yes |
| 📊 Dynamic Leverage | Yes | Yes |
| 📊 Beginner Trading | Yes | Yes |
| 📊 Professional Trading | Yes | Yes |
| 📊 Copy/Social Trading | Yes | Yes |
Deposit Options Comparison
| 🔍 Features | | |
| 💳 Bank wire | Yes | Yes |
| 💳 MasterCard | Yes | Yes |
| 💳 PayPal | Yes | Yes |
| 💳 Skrill | No | Yes |
| 💳 Neteller | No | Yes |
| 💳 Minimum Deposit | $0 | $0 |
Trading Platforms Comparison
| 🔍 Features | | |
| 💻 Desktop Platform | Yes | Yes |
| 📱 Mobile App | Yes | Yes |
| 💻 Social Trading | Yes | Yes |
| 💻 MetaTrader 4 | Yes | Yes |
| 💻 MetaTrader 5 | No | No |
| 💻 cTrader | No | No |
| 💻 DupliTrade | No | No |
| 💻 ZuluTrade | No | No |
| 💻 Proprietary Platform | Yes | Yes |
Analytical Tools Comparison
| 🔍 Features | | |
| 📅 Economic Calendar | Yes | Yes |
| 📈 Social Sentiment | Yes | Yes |
| 📈 Trading Central | Yes | No |
| 📈 AutoChartist | Yes | Yes |
| 📈 Forex News Sources | Yes | Yes |
| 📈 Daily Market Commentary | Yes | Yes |
| 📈 Virtual Private Server (VPS) | Yes | Yes |
| 📈 Trading View | No | No |
| 📈 Blog | Yes | Yes |
Educational Resources Comparison
| 🔍 Features | | |
| 🎓 Offers education | Yes | Yes |
| ℹ️ Webinars | Yes | Yes |
| ℹ️ Beginner training videos | Yes | Yes |
| ℹ️ Advanced training videos | Yes | Yes |
| ℹ️ Tutorials | Yes | Yes |
| ℹ️ eBooks | No | No |
| ℹ️ Glossary | Yes | Yes |
Forex Majors Offered Compared
| 🔍 Features | | |
| 💱 GBP/USD | Yes | Yes |
| 💱 USD/JPY | Yes | Yes |
| 💱 EUR/USD | Yes | Yes |
| 💱 USD/CHF | Yes | Yes |
| 💱 USD/CAD | Yes | Yes |
| 💱 NZD/USD | Yes | Yes |
| 💱 AUD/USD | Yes | Yes |
Overview of CMC Markets
Who is CMC Markets?
CMC Markets is a global online trading and financial services provider founded in 1989 and headquartered in London, UK. The broker offers access to a wide range of financial markets, including forex, CFDs on stocks, indices, commodities, cryptocurrencies, ETFs, and bonds.
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Min Deposit: $0
Leverage: Up to 200:1
Regulators: FCA, IIROC, ASIC, FMA, MAS
Regulation & Safety
- Regulated by top‑tier authorities including the FCA (UK), ASIC (Australia), BaFin (Germany), MAS (Singapore), and FMA (New Zealand).
- Strong global compliance and public company status support accountability.
- Investor protections vary by jurisdiction; negative balance protection is available in many regions.
Tradable Markets & Instruments
- Offers forex, indices, commodities, CFDs on shares, ETFs, bonds, and cryptocurrencies (region‑dependent).
- Very wide range of assets, including thousands of instruments.
- Focus is predominantly on CFDs and derivative instruments.
Platforms & Tools
- Proprietary Next Generation platform with advanced tools, indicators, and charting.
- Supports MetaTrader 4 (MT4).
- Platforms offer detailed technical analysis and pattern‑recognition tools.
Costs, Spreads & Fees
- Variable spreads that are competitive, e.g., EUR/USD spreads from ~0.7 pips.
- No commission for most CFDs, but commissions may apply to share trading.
- No deposit/withdrawal fees in many regions.
- Overnight/financing fees apply to leveraged positions.
- No inactivity fee in some reviews, though policies vary.
Pros and Cons
| ✅Pros | ❌ Cons |
| Long‑established broker with robust CFD/forex offering. | Fewer regulatory licences than IG |
| Tight spreads and low pricing on many instruments. | High commissions on stock CFDs in some markets. |
| Feature‑rich proprietary and MT4 platforms. | Some platforms may be less intuitive for beginners. |
Overview of IG
Who is IG?
IG is a global online trading and financial services provider founded in 1974 and headquartered in London, UK. It is one of the world’s largest brokers, offering access to a broad range of financial markets, including forex, CFDs on shares, indices, commodities, cryptocurrencies, options, futures, and bonds.
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★
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Min Deposit: $0
Leverage: Up to 1:200
Regulators: FCA, BAFIN, FINMA, DFSA, MAS, ASIC, FSCA
Regulation & Safety
- Among the most regulated brokers, with licences from FCA (UK), ASIC (Australia), FINMA (Switzerland), FSCA (South Africa), MAS (Singapore), CFTC/NFA (USA), and others.
- Very high trust rating due to extensive tier‑1 and tier‑2 regulation.
- Robust risk‑management and client fund segregation practices.
Tradable Markets & Instruments
- Provides forex, indices, commodities, share CFDs, options, futures, bonds, and more.
- Access to extensive markets, including tens of thousands of tradable symbols.
- Includes spread betting for eligible regions.
Platforms & Tools
- Offers a proprietary platform with professional features and an intuitive interface.
- Supports MetaTrader 4 (MT4) and additional platforms such as L2 Dealer, ProRealTime, and TradingView.
- Advanced charting, research tools, and customizable layouts.
Costs, Spreads & Fees
- Competitive variable spreads, often around ~0.6–0.7 pips on major forex pairs.
- No spreads on share CFDs (commission applies instead).
- Swap/overnight financing fees based on instrument and position.
- Inactivity fee after a defined period (e.g., ~$12/month).
Pros and Cons
| ✅Pros | ❌ Cons |
| Very broad global regulation and high trust rating. | Complex fee structure with commissions on certain products. |
| Extensive range of tradable instruments. | Inactivity fees for dormant accounts. |
| Multiple platforms including MT4, proprietary and advanced tools. | Some advanced features may be overwhelming for new traders. |
Conclusion
Both CMC Markets and IG are established, highly reputable brokers that serve a wide spectrum of traders, from beginners through to professional and institutional clients. They each offer comprehensive access to global financial markets, including forex, CFDs on indices, commodities, shares, and other derivatives, backed by strong regulatory oversight from top-tier authorities.
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Frequently Asked Questions
Which offers better pricing – CMC Markets or IG
When comparing the trading and non-trading fees, CMC Markets performs better than IG. CMC Markets charges a typical spread of 0.7 pips as opposed to IG’s 0.1 on the DMA Account, but CMC Markets does not charge commissions on trades, while IG does.
Which broker offers more security when trading Forex and CFDs?
Both CMC Markets and IG have the same trust score, which means that they both offer significant security when South Africans trade forex and CFDs.
Which broker offers the superior trading platform?
IG offers a choice between MetaTrader 4, IG Platform, ProRealTime, L2 Dealer, and FIX API, while CMC only offers a proprietary platform and MetaTrader 4. IG has more versatility, and its trading apps are sophisticated, offering a better experience than CMC Markets.
Do these brokers both offer MetaTrader?
Yes, both CMC Markets and IG offer MetaTrader 4.
How many Forex pairs can I expect from these brokers?
CMC Markets is one of the brokers with the most variety in forex trading pairs. CMC Markets offers 158 forex pairs, while IG only offers 100. In addition, CMC Markets offers over 11,900 instruments while IG offers 19,537.
Is it safe to trade with CMC Markets?
Yes, it is safe to trade with CMC Markets. CMC Markets is regulated by five Tier-1 regulators (high trust) and one Tier-2 regulator (average trust).
Is it safe to trade with IG?
Yes, it is safe to trade with IG. IG is a low-risk forex and CFD broker, with an overall Trust Score of 99 out of 100. IG is licensed by eight Tier-1 Regulators (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust).
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