CMC Markets Alternatives

Here are four strong alternatives to CMC Markets, each with its own trade-offs. I’ll walk you through the trading platforms, instrument availability, fees/commissions, user experience, account types, research & educational tools, customer support — and highlight both strengths and weaknesses. At the end I’ll summarise which type of trader might prefer each one.

1. IG

Trading platforms

IG offers a proprietary web-based platform, mobile apps (iOS/Android) and supports third-party integrations. For CFD/forex trading, traders can also use MetaTrader 4 as an option. Their platform supports advanced charting, watchlists, alerts and sophisticated order types. One notable feature is the “L2 Dealer” direct-market-access platform for more professional traders, which shows Level 2 data (order-book depth) and is suited to active high-volume use.
Strengths: Good flexibility of platform offering; strong charting and order-type functionality; high-end tools (ProRealTime charts add-on) for advanced traders.
Weaknesses: Some of the advanced features may carry extra costs (for example the ProRealTime charting add-on). For new or casual traders the full breadth of functionality may be overwhelming.

Available instruments

IG gives access to a broad range: forex pairs, indices, commodities, shares (both CFDs and direct share-dealing/investment accounts), ETFs and leveraged products. One review noted over 17,000 instruments.
Strengths: Broad coverage across asset classes; good for traders who wish to move beyond just forex or equities.
Weaknesses: Although the range is large, for very exotic instruments (niche currency pairs, tiny micro-markets) the offering may not be as deep as some specialist brokers. Also some instrument types may carry less favourable conditions (wider spreads/fees) compared to major ones.

Fees & commissions

In the UK/investment account context: there is no minimum deposit fee and the share-dealing component features commission-free trading online for many UK/US shares (if conditions met). For example, one summary shows that there is no account fee but a custody fee of £24 per quarter (which is waived if you make at least 3 trades in that quarter or invest over £15,000). A foreign-exchange conversion fee of around 0.7% applies for non-GBP trades.
For the CFD/forex side: spreads start from around 0.6 pips on major pairs in standard accounts; DMA accounts can get tighter spreads (e.g., from 0.1 pips) but a commission applies (e.g., around US$6 per round turn) on CFDs of shares under the DMA model.
Strengths: The investment side is comparatively low-cost for UK/US shares if you make trades regularly; the CFD/forex side has competitive spreads especially at higher volumes.
Weaknesses: For less active investors, the custody fee might bite (if fewer than 3 trades per quarter). The FX conversion and other non-trading fees (e.g., for advanced charting tools, or data feeds) can add up. On the DMA side, the commission structure may be less attractive for smaller traders.

User experience

IG is a mature broker with a well-designed user interface on both web and mobile. The platform is responsive and offers many tools for tracking, charting, alerts and news. For a more casual investor the layout is straightforward; for the advanced trader, the capability is there.
Strengths: Good balance of usability and power; mobile-first design with solid desktop/web version; good reputation for reliability and breadth of features.
Weaknesses: The interface may feel “busy” for beginners; some advanced features (L2 data, DMA access) may require extra setup or incur additional cost, which might discourage entry-level users.

Account types

IG offers both investment accounts (for share-dealing/ISAs) and trading accounts (for CFDs/forex). In the UK, you can have an Investment ISA account (tax-efficient wrapper) or general share dealing, along with CFD trading accounts. For CFD/forex you can elect for standard or DMA account types.
Strengths: Offers flexibility to trade long-term shares/investments and also intra-day/trading style via CFDs; the ISA option is beneficial for UK investors.
Weaknesses: Differentiating which account type you need may require care; some features (like DMA) are more suited to active/pro traders and may be overkill for casual investors. Also the investment account may still carry non-trading fees as noted.

Research tools & educational resources

IG provides a wide selection of educational content: webinars, video tutorials, platform guides, market commentary, economic calendar, news feeds and technical charting tools. The “IG Academy” covers both beginner and advanced levels.
Strengths: Strong on the educational and research side; good for traders wishing to develop skills or monitor markets closely.
Weaknesses: While there is depth, some very advanced research (quantitative tools, institutional-grade data) may carry extra cost or require higher-volume trading. Beginners may still feel there is a learning curve.

Customer support

Customer support is available via multiple channels: live chat, telephone, email and FAQs. UK clients benefit from a regulated entity under the UK regulator.
Strengths: Reliable support offering; global presence gives good support across time-zones; strong brand trust.
Weaknesses: Depending on the time and channel, response may vary; some support options (especially for non-standard account types) may require more waiting.

Summary: who might prefer IG?

Traders who want a solid all-round broker that combines both investment (share-dealing/ISA) and active trading (CFDs/forex), with a strong platform and good research resources, will like IG. Particularly, those with intermediate to advanced trading needs, or those who will make frequent trades (to avoid non-trading/custody fees), will benefit. If you are a casual investor making very few trades, you might want to check the cost of inactivity and FX conversion carefully.

2. Interactive Brokers (UK)

Trading platforms

Interactive Brokers (IB) offers a professional-grade trading platform suite: their Trader Workstation (TWS) desktop, IBKR mobile app, web trading, and API/automation access. The platform is built for active and institutional-style traders, with deep access to global markets and advanced order types.
Strengths: Extremely powerful platform; global market access; low commissions for many products; strong for algorithmic/automated strategies.
Weaknesses: The interface and breadth of features can be overwhelming for less experienced users; the learning curve is steeper.

Available instruments

IB supports stocks, ETFs, options, futures, forex/spot currencies, bonds, funds, CFDs (in some jurisdictions), and crypto (where permitted). They cover 160+ global markets, giving access well beyond many standard brokers.
Strengths: Exceptional breadth of instruments; suited to traders and investors who want global access and multiple asset classes.
Weaknesses: For purely UK-centric share dealing, the additional features may go largely unused; smaller traders may pay for features they don’t need.

Fees & commissions

IB’s fee structure is designed for high-volume or global traders. For example, for U.S. stocks, commissions can be as low as USD $0.0035 per share (or sub-penny levels) depending on plan tier and volume. There are no ticket charges, platform fees or account minimums for many accounts. However, depending on market-data subscriptions and other features, costs can accumulate. Also inactivity/maintenance fees may apply under certain conditions.
Strengths: Very competitive for active and international trading; excellent value for high-volume or global asset traders.
Weaknesses: For small/infrequent traders, or those trading only UK shares, some of the complexity (e.g., market data fees, account minimums) may make cost/benefit less favourable. Some non-trading fees and data subscription costs require review.

User experience

IB offers top-tier execution, many order types, global reach, and strong analytics. The app and web interface are solid, but the primary TWS desktop version has a steep learning curve if you want advanced features.
Strengths: Power user friendly; high customisability; good for sophisticated trading workflows.
Weaknesses: For casual investors, the interface may feel too complex; some features may require setup or additional learning.

Account types

IB offers numerous account types: individual, joint, corporate, trusts, ISAs (in the UK), SIPP, money-manager/advisor accounts, family office accounts, etc. Account guides show that different account types come with different margin/cash treatment, but the key is their coverage of wide use-cases. Minimum requirements vary by account type and region.
Strengths: Wide flexibility across investor/trader types; suitable for everything from long-term investor to algo-trader.
Weaknesses: For a simple retail investor seeking a basic share-dealing account only, the complexity of options might be overkill; there may be minimums and conditions (especially for non-UK/US markets) to consider.

Research tools & educational resources

IB provides strong research, real-time data, news, analyst ratings, global market access and third-party integrations. There is also extensive support for automated trading via APIs. Market-data subscription fees do apply.
Strengths: Excellent for traders who rely on deep research, global data, multi-asset access and algorithmic/automated trading.
Weaknesses: Some research/data tools may incur costs or require subscriptions; beginners may be overwhelmed by the breadth and depth of features.

Customer support

IB has global support; UK-based clients are under FCA regulation. The wide service offering means there is good institutional-level support for sophisticated account holders.
Strengths: Very strong for serious traders; reliability and global market service.
Weaknesses: For simpler retail needs, support may be more oriented toward high-volume/trader clients; the support cost structure may be less transparent for lower-volume users.

Summary: who might prefer Interactive Brokers?

If you are a trader or investor who operates at a higher level — global markets, multiple asset classes, algorithmic trading or frequent trades across markets — Interactive Brokers is very appealing. It’s especially good for high-volume, professional or semi-professional traders. If you are a casual UK investor making occasional trades of UK shares only, the additional complexity and potential ancillary fees might make other brokers more suitable.

3. Saxo Bank (UK/International)

Trading platforms

Saxo Bank offers the SaxoTraderPro desktop, SaxoTraderGO mobile/web platform, and strong charting, order types and international market integration. The platforms are designed for both retail and professional clients, and support multi­asset trading (stocks, forex, futures, options).
Strengths: Clean, modern interface; strong across asset classes; good for international market access and cross-asset strategies.
Weaknesses: Some features (especially for non-UK/US markets) may carry higher costs; the premium nature may mean minimums or higher pricing than budget brokers for simpler use-cases.

Available instruments

Saxo offers a very broad instrument set: tens of thousands of products (one estimate: over 60,000 symbols across asset classes). That includes equities, bonds, funds, ETFs, forex, commodities, options, futures, CFDs (in some jurisdictions) and more.
Strengths: Exceptional breadth; good for traders/investors who want to diversify globally beyond UK/US markets.
Weaknesses: If you solely trade a domestic UK share portfolio, many of the “extra” instruments may not be used; costs for certain niche markets may be higher.

Fees & commissions

Saxo is positioned as a premium broker. Minimum deposits may apply (depending on region), and pricing may be higher for smaller traders. The detailed fee schedule shows that for smaller trades you often pay a higher absolute cost than discount brokers. In exchange you get global access and premium service.
Strengths: The value proposition is high for clients needing international access, multi-asset exposure, and premium features.
Weaknesses: For a UK investor with a modest portfolio focused on UK/US shares, the higher cost structure can make it less cost-efficient compared to simpler platforms.

User experience

Saxo’s platforms are elegant, intuitive, and well designed. They offer high quality mobile and web experience, good visualisations and tools for multi-asset investors.
Strengths: Great for traders/investors who value user experience, global portfolio management, multi-asset view.
Weaknesses: The richness of features may be under-utilised by someone only trading UK equities or a simple portfolio; the cost and complexity may exceed what is needed.

Account types

Saxo offers cash accounts, margin/trading accounts, retirement-type accounts (depending on region), corporate accounts, and more. Minimums and tier-levels differ by country.
Strengths: Flexibility for a mobile, global investor with multiple asset types and jurisdictions.
Weaknesses: The minimums or tier levels may exclude smaller retail investors wanting just a simple share-dealing account.

Research tools & educational resources

Saxo provides strong research: global market commentary, analyst reports, economic insights, tools for asset allocation and portfolio modelling.
Strengths: Very good for multi-asset investors seeking deeper global insight.
Weaknesses: Some research tools may be geared toward more advanced users; the average UK-only investor may not fully tap into the global research value.

Customer support

Saxo is a well-established broker with global presence and regulated entities in multiple jurisdictions. Customer support is geared toward higher-end clients as well as retail.
Strengths: Good for clients who trade internationally and need multi-jurisdiction support; premium service.
Weaknesses: Support costs or fees may be higher; for simple UK-only needs the value-ratio may be less.

Summary: who might prefer Saxo?

If you are an investor/trader with ambitions beyond the UK market — e.g., trading international equities, multiple asset classes, diversifying globally, or using advanced portfolio tools — Saxo is a strong contender. On the other hand, for a UK-centric investor focussed on a smaller portfolio of shares, the premium cost might not justify the full service.

4. Forex.com (UK/international)

Trading platforms

Forex.com offers its own web platform, desktop software, mobile app, and also supports MetaTrader 4 and in some regions MetaTrader 5. The trading platforms emphasise forex/CFD trading, but also offer share-CFDs and other asset classes.
Strengths: Good platform for forex and CFD traders; meta-trader integration is beneficial for automated traders; generally clean and straightforward.
Weaknesses: Compared with brokers geared for long-term share investing or broader multi-asset investors, this broker is more niche (forex/CFD) so share-dealing/investment account support may be less comprehensive.

Available instruments

The focus is on forex (many currency pairs), CFDs on shares, indices, commodities, cryptocurrencies (in some jurisdictions) and other leveraged products. Some reviews list it as a “balanced choice for traders of all experience levels” with a decent instrument set.
Strengths: Good for traders who focus on forex or CFD trading rather than long-term share investment; plenty of forex pairs and leverage options.
Weaknesses: If your primary goal is unleveraged share investment, dividends, long-term buy-and-hold, then a share-dealing specialist might provide a better fit. The share-CFD model also means you may not physically own the underlying shares.

Fees & commissions

Forex.com’s fee structure in the UK/international context is designed with trading costs in focus: lower spreads on major pairs, competitive commissions on forex/CFD trades depending on account type. In one review, Forex.com is described as “balanced choice for low fees and great research tools” in the forex/CFD space.
Strengths: Good value for active traders of forex/CFDs; cost-effective for strategies focused on trading rather than investing.
Weaknesses: For share-dealing or long-term investing the costs/conditions may not be as favourable; also the leveraged nature of CFDs means extra risk and cost (overnight financing, spread widening) which must be factored in.

User experience

Platform is user-friendly; the meta-trader integration is helpful for those who already use MT4; mobile/web design is competent.
Strengths: Smooth for forex/CFD trading; good tools for charting, execution and order types.
Weaknesses: For share-investors or those expecting full share-dealing features (ISAs, fractional shares, etc) the user experience may feel less tailored.

Account types

Forex.com offers different account types typically based on region: standard accounts, commissions vs spread accounts, sometimes raw spread accounts for advanced traders, demo accounts, etc.
Strengths: Flexibility for traders of different styles (low spread accounts, standard accounts) and the ability to demo test.
Weaknesses: Not as rich in long-term investment account types (for example ISAs, SIPP) compared to platforms built for share-dealing/investment. If you’re seeking both trading & long-term investing in one account, you may need to use multiple brokers.

Research tools & educational resources

There is a decent library of market commentary, webinars, trading strategies, educational videos, and charting tools. Particularly strong for forex/CFD market education.
Strengths: Good for traders who wish to deepen their trading knowledge and use charting/technical analysis.
Weaknesses: For investors more interested in fundamental research, company earnings/stock analysis, long-term portfolio tools, the resource set may be thinner compared with full-service investment brokers.

Customer support

Support is available via phone, live chat and email; as with any broker you should check the jurisdictional regulation and local service level.
Strengths: Adequate for active traders; solid for needs of trading focus.
Weaknesses: If you require specialist long-term investment support (ISA, pensions, tax wrappers) the support service may not be as tailored as a dedicated investment broker.

Summary: who might prefer Forex.com?

If you are primarily a trader — especially in forex or CFDs — and want a broker focused on trading (rather than a combined long-term investment + trading platform) then Forex.com is a strong alternative. If your interests lean toward buying and holding UK/US shares, investing for the medium to long term, you might prefer a broker more focused on investment accounts.

Balanced Summary & Recommendation

Here’s a comparative view and suggestions for which trader profile each broker is best suited to:

• IG: Best for traders/investors who want a “one-stop” solution that covers both share-dealing/investment (including ISAs in the UK) and active trading (CFDs/forex). If you trade often (to avoid inactivity/custody fees) and want a strong platform with good research, IG is very appealing.
• Interactive Brokers: Best for serious traders and investors with global ambitions — multi-asset classes, multiple markets, algorithmic or active trading across geographies. If your trading/investing is high-volume, global, or multi-asset, IB delivers great value. If your activity is low or focused purely on UK shares, the complexity may be unnecessary.
• Saxo Bank: Best for investors/traders who seek a premium experience coupled with international diversification and multi-asset exposure. If you trade worldwide, want global portfolios, perhaps multiple currencies, then Saxo is excellent. If your trade universe is narrower, the cost might not match your needs.
• Forex.com: Best for trading-centric users — especially those in forex or CFD markets who want strong execution and trading tools rather than long-term share investment with tax wrappers. If you are less interested in ISAs, pensions, long-term share holding and more in short-term trading, Forex.com is a strong alternative.

In all cases:

• Check that the instrument universe covers exactly what you want to trade (some brokers may specialise in shares, others in forex/CFDs).
• Review all fees (spreads, commissions, FX-conversion, data subscriptions, inactivity or custody fees).
• Consider how much time you will spend on research, how active you will trade, and whether you’ll use advanced order types, global markets, or automation.
• Consider the user interface and whether you feel comfortable with the platform’s complexity.
• Consider the support and educational material you want (beginners vs advanced).
• Consider the account type (investment vs trading vs ISA/SIPP) and whether you’ll need wrappers such as ISAs if you are UK-based.

The Forex Geek

I’m a self-confessed Forex geek who spends countless hours researching, testing, and reviewing everything related to trading. With many years of experience in the Forex industry—and thousands of robots, brokers, strategies, and courses put to the test—I’ve seen what works and what doesn’t. My goal is simple: to share that knowledge with you for free, so you can navigate the exciting (and sometimes crazy) world of Forex trading with more confidence.