CMC Markets

⭐ 4.5 / 5

FP Markets

⭐ 4.5 / 5

CMC Markets vs FP Markets — which broker is better in 2026?

Q: Which is better — CMC Markets or FP Markets?

CMC Markets and FP Markets are evenly matched on most criteria. The right choice depends on your specific trading style — see the side-by-side comparison.

Q: Is CMC Markets more regulated than FP Markets?

CMC Markets is regulated by FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland. FP Markets is regulated by ASIC, CySEC, FSCA, FSA SVG.

Q: What are the spreads at CMC Markets vs FP Markets?

CMC Markets spreads start from 0.7 pips (Next Generation). FP Markets spreads start from 0.0 pips (Raw).

We compared CMC Markets and FP Markets across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. The two brokers are evenly matched — your final choice depends on your specific trading style.

	CMC Markets	FP Markets	Winner
Rating	⭐ 4.5 / 5	⭐ 4.5 / 5	Tie
Regulators	FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland	ASIC, CySEC, FSCA, FSA SVG	CMC Markets
Min. deposit	$0 (no minimum)	$100	CMC Markets
Spreads from	0.7 pips (Next Generation)	0.0 pips (Raw)	FP Markets
Max. leverage	Up to 1:30 (EU retail) / 1:500 (Professional)	Up to 1:30 (EU retail) / 1:500 (offshore)	—
Platforms	CMC Next Generation, MT4, CMC Mobile	MT4, MT5, cTrader, IRESS, FP Markets Mobile	FP Markets
Founded	1989	2005	—
HQ	London, United Kingdom	Sydney, Australia	—

Pros & cons compared

CMC Markets pros

✓ Founded 1989 — among the oldest CFD brokers (LSE: CMCX)
✓ FCA, ASIC, BaFin, MAS — tier-1 regulators across major financial centres
✓ 12,000+ instruments — one of the broadest catalogues in retail CFDs
✓ Award-winning proprietary 'Next Generation' platform
✓ No minimum deposit

Cons

✗ Proprietary platform has a learning curve vs. MT4
✗ Spread on FX 'Standard' account (0.7 pips) wider than ECN brokers
✗ Limited cryptocurrency CFD coverage

FP Markets pros

✓ Founded 2005 — 20+ year operating history
✓ ASIC + CySEC dual tier-1 regulation
✓ Raw account: 0.0 pips + $3/lot commission per side
✓ Five platforms incl. IRESS — DMA access to ASX & global equities
✓ 10,000+ share CFDs across 9 international exchanges

Cons

✗ $100 minimum deposit higher than budget brokers
✗ Smaller brand than IC Markets / Pepperstone
✗ IRESS platform has steeper learning curve than MT4

Which one should you choose?

Choose CMC Markets if you want…

Discretionary traders wanting deep instrument coverage and a sophisticated proprietary platform from a publicly-listed UK broker.

Choose FP Markets if you want…

Australian + EU traders wanting deep equity CFD coverage via IRESS plus ECN FX execution from a dual-tier-1 broker.

Frequently asked questions

Which is better — CMC Markets or FP Markets?

CMC Markets and FP Markets are evenly matched on most measurable criteria. Your choice should depend on which specific features matter most — review the comparison table above and the "Pros & Cons" section.

Is CMC Markets more regulated than FP Markets?

CMC Markets holds licenses from: FCA, ASIC, BaFin, MAS, FMA NZ, IIROC, MA Poland. FP Markets holds licenses from: ASIC, CySEC, FSCA, FSA SVG. CMC Markets has more regulatory licenses, giving it broader geographic coverage.

What are the spreads at CMC Markets vs FP Markets?

CMC Markets spreads start from 0.7 pips (Next Generation). FP Markets spreads start from 0.0 pips (Raw). Actual spreads vary by account type and market conditions.

Which has a lower minimum deposit, CMC Markets or FP Markets?

CMC Markets: $0 (no minimum). FP Markets: $100. CMC Markets has the lower entry barrier.