Broker of the month: ETX Capital, read our expert and 30+ client reviews here
How long have they been around?
Both IG and CMC are old City faces. IG was founded in 1974 and CMC Markets shortly afterwards in 1989. Both spread betting brokers lead the industry in terms of innovation and market share in the UK and are both gradually expanding abroad. Both CMC and IG are well established players with good reputations.
How tight are their spreads?
CMC is better for pricing as as they have always focused on the more liquid instruments like FX and Indices. CMC also have slightly better pricing on stocks – the spreads tend to be about 10 basis points (that 0.1% to you and me) wider than the underlying market in FTSE 100 stocks. IG is certainly competitive but if you are seeking tight spreads CMC is the better option.
Trading platform choice
CMC’s trading platform has always been a little more aggressive. Black background, lots of dials, a bit more like the professional data platform Bloomberg looks and as such as there to make private clients feel a bit more professional.
New client offers and bonuses.
Nothing on offer from IG, but you can read up on how to get £200 from CMC when you open a new account here. CMC also have a high volume rebate program in place for high volume traders. So at the end of the month if you do enough business you get a percentage of your trading costs back.
How broad is the market range?
IG offer more markets (10,000) and are much better at giving clients access to smaller cap stocks. CMC tend to focus on the more liquid markets but do still offer around 9,500 instruments to choose from. Most clients only trade about 15 assets anyway to this is almost irrelevant. But it’s good to know they are there if you ever want a punt on something obscure.
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| Visit ETX Capital
Read Expert & 30+ In Depth Client ETX Capital Reviews
| Visit Spreadex
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| Visit IG
Read Expert & 3+ Client IG Reviews