Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

CMC Markets
9 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT CMC MARKETS
Instaforex
0 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT INSTAFOREX
AvaTrade
9.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT AVATRADE
About

CMC Markets is regulated by the Financial Conduct Authority, NFA and ACN. CMC Markets have provided Forex trading services since 1989.

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

AvaTrade is regulated by the Central Bank of Ireland, ASIC (Australia), FSA (Japan), FSB (South Africa) and BVI. AvaTrade have provided Forex trading services since 2006.

Why choose them?
  • Yes Over 29 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 11 years in business
  • Yes Used by 7,000,000 traders
  • Yes Offers swap-free accounts
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Central Bank of Ireland, ASIC, FSA, FSB and BVI
Headquarters London, UK Kaliningrad, Russia Dublin, Ireland

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No Yes
Social Trading No Yes Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 32 107 59
Commodities Offered 0 2 16
Stocks Offered 9000 88 99
Bitcoin No Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No No
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE No No Yes
Dow Jones No No Yes
Dax Yes No Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No Yes
See all instruments

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See all instruments

50% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

71% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No Yes Yes
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No Yes Yes
ZuluTrade No No Yes
Sirix No No No
cTrader No No No
PAMM Yes Yes No
Custom Platforms Next Generation No AvaTradeAct, AVAOptions

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes No
Available Languages

English, German, French, Polish, Spanish, Swedish, Italian, and Norwegian

Arabic, Chinese, English, Portuguese, Russian, Spanish, and Indonesian

English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch

See platform & features

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See platform & features

50% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

71% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by CMC Markets and Instaforex

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No Yes Yes
Standard account Yes Yes Yes
ECN Account No No No
Islamic account No Yes Yes
Zero spread account No Yes No
VIP account No No Yes
Fixed spreads No Yes Yes
Variable spreads Yes Yes Yes
See account options

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See account options

50% of retail investor accounts lose money when trading CFDs with this provider.

See account options

71% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No Yes No
Direct market access No No Yes
STP broker No Yes No
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 0.01 Lot
Max trade Varies 1,000 Lot None
Min deposit $200 $1 $100

RISK MANAGEMENT

Stop losses Yes No Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes No Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No Yes Yes
Skrill No No Yes
Payment processing time 1-5 business days 1-2 business days Varies
Withdrawal processing time 1-2 business days 1-6 business days Varies
See all funding options

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

See all funding options

50% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

71% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US BE,BR,NZ,US,KE,IN,GH
Contact email Send Email Send Email Send Email
Phone number +1300 303 888 7 (812) 4580354 (44) (0) 8005200423
Live Chat No Yes Yes
Website https://www.cmcmarkets.com https://www.instaforex.com/ http://www.avatrade.com/
Spreads:
EUR/USD (Average: 0.7 pips) 0.7 pips + $0.00 Not offered 0.9 pips
GBP/USD (Average: 1.1 pips) 0.9 pips + $0.00 2.0 pips 1.6 pips
USD/JPY (Average: 1.1 pips) 0.7 pips + $0.00 2.0 pips 1.1 pips
AUD/USD (Average: 0.8 pips) 0.9 pips + $0.00 2.0 pips 1.1 pips
USD/CHF (Average: 2.3 pips) 1.5 pips + $0.00 Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) 1.7 pips + $0.00 Not offered 2.0 pips
NZD/USD (Average: 3.6 pips) 2.0 pips + $0.00 Not offered 1.8 pips
EUR/GBP (Average: 2.4 pips) 1.1 pips + $0.00 Not offered 1.5 pips
View all spreads

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

View all spreads

50% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

71% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes Yes No
Commission Yes, 0.10% Yes, $30 No
Deposit Fee Varies No No
Withdrawal Fee Varies Yes No
View All Fees

78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider

View All Fees

50% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

71% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.cmcmarkets.com. Last updated on 01/12/2019.

All information collected from https://www.instaforex.com/. Last updated on 01/12/2019.

All information collected from http://www.avatrade.com/. Last updated on 01/12/2019.

Company

CMC Markets were founded in 1989 and are one of the leading CFD and spread betting providers. The main differentiator about CMC Markets is their bespoke award-winning trading platform. CMC Markets also offer very reasonable spreads and offer a wide range of instruments.

For more information about trading with CMC Markets, we have put together an indepth CMC Markets review with all the pros and cons about this broker.

InstaForex are regulated by CySEC. They were founded in 2007 and are used by over 7,000,000 traders.

Since 2006, Avatrade have attracted over 20,000 traders to their platform. While their spreads are not the most competitive, they do offer traders a range of great features, such as guaranteed stop losses, the ability to hedge / scalp, and low margins.

For more information about trading with AvaTrade, we have put together an indepth AvaTrade review with the pros and cons about this broker.

Popular comparisons

Popular comparisons feat. CMC Markets

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Popular comparisons feat. Instaforex

Instaforex Alternatives

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Plus500 vs Instaforex
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Avatrade vs Instaforex

Popular comparisons feat. AvaTrade

AvaTrade Alternatives

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Avatrade vs eToro
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Avatrade vs XTB

CMC Markets or Instaforex?

Low spreads or access to MT4?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, CMC Markets is likely a better option. However, if you want a broker that offers MetaTrader4 as a trading platform, Instaforex may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider CMC Markets to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

CMC Markets is regulated by Financial Conduct Authority, while Instaforex is regulated by CySEC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, CMC Markets will have very strict guidelines to follow to ensure they protect their retail trader clients.

AvaTrade are regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

CMC Markets has been around for 30 years, while Instaforex have been around for 12 years. Our third alternative broker, AvaTrade, have been around for 13 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

CMC Markets uses tier one banks as their banking partner.Instaforex does not use tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Instaforex is more popular with over 7,000,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

CMC Markets is a publicly listed company, while on the other hand Instaforex is still a privately owned company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

CMC Markets are based in London, UK, while Instaforex are based in Kaliningrad, Russia .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both CMC Markets and Instaforex offer forex trading. Instaforex have a slightly larger variety of currency pairs with 107 pairs, compared to 32 offered by CMC Markets. Also, if you’re looking to trade cryptocurrencies, Instaforex offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, CMC Markets may be a better fit as Instaforex does not offer commodity trading.

Instaforex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. AvaTrade, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

CMC Markets does allow scalping and hedging. While Instaforex also allows scalping and hedging. You can't trade with EAs (expert advisors) on CMC Markets but you can trade EAs (expert advisors) with Instaforex.

In terms of risk management tools, neither CMC Markets or Instaforex offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

CMC Markets also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

CMC Markets accept Payoneer while Instaforex accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, CMC Markets charges 0.70 points, while Instaforex charges points. Therefore, Instaforex is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: CMC Markets or Instaforex?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, CMC Markets is more reliable based on our criteria above. CMC Markets has a wider range of instruments to trade. Instaforex offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.