Switch Markets vs CMC Markets

Switch Markets or CMC Markets – which is better for UK traders 2026? Compare Switch Markets and CMC Markets in this detailed breakdown of their platforms, features and fees.

Switch Markets vs CMC Markets Comparison Table 2026
Switch Markets CMC Markets
rating empty
rating full
4.2
rating empty
rating full
4.7
Switch Markets is ranked #39 among CFD brokers. CMC Markets is ranked #15 among CFD brokers.
Review
Review
Switch Markets is a CFD brokerage offering diverse assets. It provides MT4 and MT5 platforms, thousands of instruments, and tools like copy trading and premium VPS hosting. Founded in 1989, CMC Markets is a reputable broker publicly listed on the London Stock Exchange. It holds authorisation from top-tier regulators such as the FCA, ASIC, and CIRO. The brokerage, which has received multiple awards, boasts a global membership exceeding one million traders.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Pros
  • Switch Markets provides exceptional trading tools: a market sentiment heatmap, an economic calendar, various trading calculators, and a new AI-driven trading assistant.
  • Gain free access to MarketMovers' educational materials, market insights, and personalised coaching—benefits rarely offered by other brokers.
  • Traders can use MetaTrader's Trading Signals for copy trading, allowing them to replicate expert positions instantly.
  • Switch Markets has enhanced its portfolio with additional instruments and streamlined account structures. It provides a strong infrastructure for algorithmic traders, including a complimentary premium VPS for eligible participants.
  • Switch Markets offers clients with a $50 balance four complimentary tools: a VPS, AlgoBuilder AI using natural-language prompts, Trackatrader for advanced analytics, and PineConnector.
  • The CMC web platform offers an excellent user experience, featuring advanced trading chart tools and customisable options, suitable for both novice and seasoned traders. It also supports MT4, MT5, and, from 2025, TradingView.
  • CMC Markets has introduced an AI News feature. This leverages AI to highlight and summarise market stories instead of executing trades, suggesting the future direction of broker research tools.
  • We upgraded its 'Assets & Markets' rating due to frequent product expansions in 2025 and 2026. These include extended hours for 5,000+ US stocks and ETFs, new share CFDs, certificates, warrants, and fractional shares in certain areas.
  • CMC provides competitive pricing with narrow spreads and low trading fees, except for stock CFDs. The Alpha and Price+ programmes offer additional benefits for active traders, including discounts on spreads of up to 40%.
  • The brokerage excels with an extensive array of valuable resources, such as pattern recognition scanners, webinars, tutorials, news feeds, and research from reputable sources like Morningstar.
  • CMC Funded available from October 2026, providing up to a $100k prop trading-style simulated account to traders looking to prove their skills on CMC's trading infrastructure with wide market access, including prediction markets.
Cons
  • Switch Markets' regulatory standing has declined since its ASIC licence expired in 2024, when it ceased operating as a Corporate Appointed Representative under OneRoyal.
  • The global firm is offshore-registered with the VFSC through Royal CM LTD, a red-tier regulator offering limited client financial protection.
  • Although better, spreads remain uncompetitive for Standard account holders, averaging 1.5 pips on EUR/USD by our analysis.
  • This broker mainly supports MetaTrader, lacking proprietary software or apps. However, the PineConnector bridge enables direct trade execution from TradingView charts.
  • Although there have been improvements, the online platform still needs further refinement to match the user-friendly trading experience offered by competitors such as IG.
  • A £15 monthly inactivity fee applies after a year of no activity, possibly discouraging casual investors.
  • The CMC Markets app provides a comprehensive trading package; however, its design and user experience lag behind market leaders such as eToro.
Awards
  • Best Trading App 2023 - DayTrading.com
  • No.1 Platform Technology 2022
  • No.1 New Tool 2022
  • No.1 Most Currency Pairs 2022
  • Best Trade Execution 2021
  • Best Forex Broker For Beginners 2021
  • Most Transparent Forex Broker Europe 2020
  • Best Trading Platform 2020
  • Best Trading App 2019
  • Best Customer Service 2018
FCA Regulated
No

List of FCA Regulated Brokers

Yes
Instruments
Forex, Commodities, Indices, ETFs, Shares, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting, Certificates and Warrants (Germany and Austria)
Demo Account
Yes Yes
Minimum Deposit
$50 $0
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
VFSC FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
Mobile Apps
iOS & Android iOS & Android
Trading App
CMC Markets' award-winning app has revolutionised mobile trading. Its modern, customisable interface provides a unique user experience that sets it apart. Enhanced with 25 technical indicators, 15 drawing tools, and a swift, stable trading platform, it is an outstanding option for traders.
iOS App Rating
rating empty
rating full
4.8
rating empty
rating full
4.1
Android App Rating
rating empty
rating full
4.6
rating empty
rating full
3.7
Margin Trading
Yes Yes
Margin Rate
3.0%
MetaTrader 4
Yes Yes
MetaTrader 5
Yes Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
Yes Yes
P2P Trading
No No
Spot Trading
Yes Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
Switch Markets provides cost-effective copy trading through the MetaTrader platform.
Social Trading
Yes Yes
Trade Signals
MT4 Yes
VPS Hosting
Yes Yes
Tournaments
No No
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$0 $15
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • CHF
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • SEK
  • NOK
  • SGD
  • PLN
Commodities
  • Gold
  • Silver
  • Oil
  • Natural Gas
  • Copper
  • Palladium
  • Platinum
  • Precious Metals
  • Cotton
  • Gold
  • Oil
  • Silver
  • Copper
  • Coffee
  • Wheat
  • Precious Metals
  • Natural Gas
  • Soybeans
  • Orange Juice
  • Nickel
  • Palladium
  • Steel
  • Cannabis
  • Platinum
  • Livestock
  • Sugar
  • Gasoline
CFD
Switch Markets provides numerous CFD instruments with rapid order execution averaging 76 ms. Commissions are competitive at $7 per round turn for Pro accounts. Unique support features include over 20 trading calculators, a free journal, and coaching. CMC enables trading of CFDs on over 12,000 assets, including currencies, indices, commodities, shares, ETFs, and treasuries. In 2025, new equities will feature sectors like quantum computing, AI learning, and digital car sales. Enjoy competitive spreads without hidden fees, and leverage the renowned MetaTrader 4 platform. Consistently, CMC stands out as a leading CFD broker.
Leverage
1:30 (EU), 1:1000 (Global) 1:30 (Retail), 1:500 (Pro)
FTSE Spread
1.2 1 pt
GBPUSD Spread<
0.5 0.9
Oil Spread
2.0 3.5
Stocks Spread
Variable 0.02
Forex
The offering of over 60 major, minor, and exotic currency pairs is quite competitive, particularly with Pro account spreads starting at 0 pips. Seasoned traders can utilise VPS hosting and Expert Advisors to execute algorithmic trading strategies efficiently. CMC offers a broad selection of over 300 forex pairs, featuring tight spreads and quick execution. This exceeds many competitors in currency variety. Their forex indices provide a distinctive and comprehensive method to speculate on major currencies such as USD, EUR, and GBP.
Assets
60+ 300+
GBPUSD Spread
0.5 0.9
EURUSD Spread
0.1 0.7
EURGBP Spread
0.6 1.1
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
  • AUD
  • NZD
  • CHF
Cryptocurrency
Switch Markets now offers over 60 crypto CFDs, a significant increase from the original 6. This expanded range includes both major cryptocurrencies and altcoins. Users can deposit and withdraw using BTC, ETH, XRP, USDT, and USDTRC20, appealing to traders focused on crypto. CMC Markets provides trading opportunities with popular digital currencies such as Bitcoin. However, it excels in offering crypto indices, granting broader market exposure. With minimal slippage and an impressive 99.9% fill rate, CMC is an excellent choice for active traders in the cryptocurrency sector.
Spread
Variable From 1.3
Coins
  • BTC
  • BTC
  • XMR
  • ETH
  • LTC
  • ETH
  • NEAR
  • ZEC
  • LNK
  • APE
  • DOG
  • RIP
  • RIP
  • ONE
  • BNB
  • DSH
  • AVE
  • SHB
  • BCC
  • ETC
  • ADA
  • VET
  • XTZ
  • SOL
  • CHZ
  • NEO
  • BSV
  • IOTA
  • ATO
  • UNI
  • COMP
  • BAND
  • FTM
  • DOT
  • ALG
  • MEL
  • XLM
  • THT
  • POL
  • SND
  • TRX
  • SUSHI
  • QTUM
  • ICP
  • CELO
  • SNX
  • ALICE
  • KAVA
  • AVX
  • TRP
  • KSM
  • YFI
  • CKE
  • MNA
  • EOS
  • FIL
  • 1INCH
  • DEFI
  • EGLD
  • WAV
  • AXS
  • XEM
  • ENS
  • KNC
  • BTC
  • BCH
  • ETH
  • LTC
  • EOS
  • TRON
  • NEO
  • ADA
  • XLM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Switch Markets CMC Markets
Review
Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
More Comparisons
Switch Markets
vs

 CMC Markets
vs