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Head to head

Alpari vs CMC Markets

Alpari has no licence we could confirm on a regulator's register. CMC Markets is licensed by FCA in the United Kingdom, BaFin in the European Union, ASIC in Australia, MAS in Singapore, CIRO in Canada, FMA (New Zealand) in New Zealand and DFSA in the United Arab Emirates (DIFC). The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $30 at Alpari and $0 at CMC Markets. Only CMC Markets offers negative balance protection and segregated client money.

Facts last checked: Alpari on 20 October 2026, CMC Markets on 20 October 2026.

Alpari profileCMC Markets profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
AlpariRead the profile
CMC MarketsStrictly regulatedRead the profile
Comparing
Alpari
CMC MarketsUnited Kingdom

Overview

Founded
1998
Not yet checked
Headquarters
Fomboni, Mohéli, Comoros
London, United Kingdom
Official websites
  • alpari.com
  • cmcmarkets.com
  • cmcinvest.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
No licence listed
CMC Markets UK plc
Regulator
No licence listed
FCA
United Kingdom
Regulation level
No licence listed
Strictly regulated
Licence number
No licence listed
173730
Check the register
Clients this company serves
No licence listed
UK residents (spread betting, CFDs and FX Active)
All licences held
None listed
  • FCA (United Kingdom)
  • BaFin (European Union)
  • ASIC (Australia)
  • MAS (Singapore)
  • CIRO (Canada)
  • FMA (New Zealand) (New Zealand)
  • DFSA (United Arab Emirates (DIFC))
Segregated client money
No
Yes
Negative balance protection
No
Yes
Compensation scheme
None
FSCS (UK, CMC Markets UK plc clients); other countries have their own schemes or none

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Not yet checked

Leverage and margin

Maximum retail leverage
Up to 1:3000 (ECN and Pro ECN); 1:1000 on Standard; 1:500 on Micro
1:30 on major currency pairs (UK and EU retail clients)
Retail leverage by asset class
  • Micro account: Up to 1:500
  • Standard account: Up to 1:1000
  • ECN and Pro ECN accounts: Up to 1:3000 (floating)
  • Major currency pairs: 1:30
  • Other currency pairs: 1:20
  • Other commodities and non-major indices: 1:10
  • Share CFDs and spread bets: 1:5
Margin call level
50% on Micro and Standard; 80% on ECN and Pro ECN
Not yet checked
Stop-out level
20% on Micro and Standard; 50% on ECN and Pro ECN
50% of margin (UK and EU retail close-out rule)

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • Alpari trading app
  • CMC web platform
  • CMC mobile app
  • MetaTrader 4
  • MetaTrader 5
  • TradingView
Markets
Forex, metals, indices, commodities, cryptocurrencies, stocks, ETF, futures and crosses CFDs
300+ currency pairs on its own platform (175+ on MetaTrader 4), indices, commodities, shares, ETFs, bonds and share baskets as spread bets and CFDs
Demo account
Yes
Not yet checked
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Debit or credit card
  • Bank wire
  • E-wallet
  • Cryptocurrency
  • Local payment methods
Not yet checked
Withdrawal fee
Varies by method; the fee is taken from the amount withdrawn
No charge from CMC for deposits or withdrawals (UK site)
Inactivity fee
Not yet checked
£10 a month (or currency equivalent) after a year with no trading, only taken while the account holds money

Support

Customer support
Live chat, chatbot, messengers and phone helpline
24-hour phone line Monday to Friday (UK)

Our notes

Strengths
  • Four account types, from a $30 Micro account to a raw-spread Pro ECN account
  • Commission-free Micro, Standard and ECN accounts
  • MetaTrader 4 and 5, PAMM investing and a demo account
  • Every company we checked holds a licence from a strict or standard regulator, from the FCA to the DFSA
  • UK client money is held in segregated accounts under the FCA's client money rules, with FSCS cover for eligible claims
  • No minimum deposit on the UK site and no charge from CMC for deposits or withdrawals
Watch out for
  • Says it holds Mwali International Services Authority (MISA) licence T2023236; we could not confirm it on MISA's register on 2026-10-20, because the register sits behind a bot check
  • No licence from a strict regulator; not available to UK or EU residents
  • We found no statement on its site about segregated client money or negative balance protection
  • Leverage up to 1:3000, and deposit bonuses that come with conditions
  • Inactivity fee of £10 a month after a year without trading
  • The UK site quotes minimum spreads (from 0.5 pips, or 0.0 pips plus commission on FX Active), not typical spreads, so check live prices before you compare
  • The FCA has warned about clone firms using CMC Markets' details, including ibplatform.info, ib-platform.info, ibplatform.co and marketstradeltd.com

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Alpari: Before trading, you should ensure that you've undergone sufficient preparation and fully understand the risks involved in margin trading.
  • CMC Markets: 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, CFDs, OTC options or any of our other products work and whether you can afford to take the high risk of losing your money.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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