Comparison of CMC Markets vs TradeStation [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theCMC Markets vs TradeStation comparison!

Your expert: Alejandro Borja

CMC Markets

Your expert: Xavier Tarrasó

TradeStation

Main points

Fees

Low 4/5

Regulated

FCA, ASIC

Demo account

Yes

Low 4,2/5

Fees

FINRA, SEC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.0 – CMC Markets offers competitive pricing and precision with aggregated prices from multiple sources. However, the daily and overnight holding costs can be significant for long-term positions .

3.9 – TradeStation charges competitive volume-based fees starting at $2 + 0.65% for small trades. The complex fee structure and $10 monthly inactivity fee are notable drawbacks .

Level

Low 4/5

Low 4,2/5

Brief explanation

CMC Markets offers a competitive fee structure for cryptocurrency trading, primarily operating through spreads rather than commission-based fees. The spreads on major cryptocurrencies such as Bitcoin and Ethereum are relatively tight, making it cost-effective for traders to execute their strategies. Additionally, CMC Markets does not charge deposit fees, which is a significant advantage for traders looking to fund their accounts without incurring extra costs. However, users should be aware of potential overnight holding costs for CFD positions, which can add up if trades are held for extended periods. For cryptocurrency CFDs, the primary cost is the spread, which is the difference between the bid and ask prices. This spread is competitive with other major exchanges, particularly for popular cryptocurrencies. CMC Markets also employs a tiered spread system, where spreads can vary depending on market conditions and liquidity. This dynamic pricing model helps ensure that traders receive fair pricing, especially during times of high market volatility. Additionally, the absence of commission fees on crypto trades further enhances the platform’s attractiveness to cost-conscious traders. While there are no hidden fees, it’s important for traders to consider the overall cost of trading, including potential overnight fees for positions held beyond a day. These fees can vary based on the specific cryptocurrency and market conditions. Moreover, CMC Markets provides detailed information on all costs associated with trading on their platform, promoting transparency and helping traders make informed decisions. Overall, CMC Markets’ fee structure is designed to be straightforward and competitive, making it a strong choice for both novice and experienced cryptocurrency traders.

TradeStation charges competitive fees for cryptocurrency trading, though there are some costs to be aware of. Trading commissions are based on a tiered structure, starting at 0.30% per trade for monthly volumes up to $100,000 and decreasing to 0.20% for volumes above $1 million. This makes TradeStation suitable for both small and large traders. Additionally, there is a spread markup, which is the difference between the bid and ask prices, typically ranging from 0.5% to 1%. The platform also charges an inactivity fee of $50 if there is no trading activity for 12 months, and wire transfer withdrawal fees are $25 for US clients and $35 for international clients. These fees can add up, especially for infrequent traders. Despite these costs, TradeStation’s comprehensive tools and security measures can justify the expenses for those who prioritize advanced trading capabilities and regulatory compliance.

CMC Markets

Year Founded: CMC Markets was founded in 1989, providing it with a long history and substantial experience in the trading industry. Its longevity is a testament to its reliability and ability to adapt to market changes over the decades.
Number of Users: With over 60,000 active clients globally, CMC Markets has built a large and loyal user base. This widespread adoption is a strong indicator of the platform's credibility and the trust it has earned from traders around the world.
Security Methods: CMC Markets employs advanced security measures, including encryption and two-factor authentication (2FA), to protect user accounts and funds. This commitment to security helps ensure a safe trading environment for all users.
Regulation: CMC Markets is regulated by several top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS). This stringent regulatory oversight adds a significant layer of protection and trust for users.
Reputation and Reviews: CMC Markets has received positive reviews from both users and industry experts. Its reputation for reliability, advanced trading tools, and excellent customer service further solidifies its standing as a trusted exchange in the crypto market.

TradeStation

Year Founded: Established in 1982, TradeStation has a long track record of stability and innovation in the brokerage industry.
Security Methods: TradeStation employs robust security measures, including two-factor authentication and encryption, to protect user data and assets.
Regulation and Licensing: TradeStation is regulated by top-tier US authorities such as the SEC and FINRA, ensuring compliance with strict financial standards.
Reputation and Reviews: TradeStation has consistently received positive reviews from users and industry experts for its advanced trading tools and comprehensive platform.
Transparency: As a subsidiary of Monex Group, a publicly listed company, TradeStation maintains a high level of transparency by regularly publishing financial statements and complying with rigorous disclosure requirements.

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Account Minimum

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Direct link to the website

Product selection

Native token

CMC Markets does not have a native token.

TradeStation does not have a native token.

Earns

CMC Markets does not support staking or other crypto earning programs. It provides trading through crypto CFDs and spread betting .

TradeStation does not provide staking or earning options with cryptocurrencies. The platform allows direct trading of certain cryptocurrencies .

NFT marketplace

CMC Markets does not have an NFT marketplace.

TradeStation does not have an NFT marketplace.

Cripto/debit card

CMC Markets does not offer a card for its clients .

TradeStation does not have a card for its clients .

Payment methods

Transfers

Yes, CMC Markets accepts bank transfers for both deposits and withdrawals .

Yes, TradeStation accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, CMC Markets accepts Mastercard for deposits.

No, TradeStation does not accept Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method. In some locations, third-party payment providers like Wise are not available .

Wise is not mentioned as a supported payment method .

Card

Yes, CMC Markets accepts credit/debit cards .

No, TradeStation does not accept credit/debit cards .

Comparative table

CMC Markets	Features	TradeStation
The minimum trade size at CMC Markets is low, making it accessible for beginners who want to start trading with smaller amounts.	Minimum Trade	TradeStation allows for low minimum trades, making it accessible for beginners.
While CMC Markets offers competitive spreads, the stock CFD fees are relatively high compared to other exchanges.	Trading and Transaction Fees	Fees are higher than some competitors, especially for withdrawals.
With around 19 cryptocurrencies available, the selection is decent but fewer than some competitors that offer a broader range.	Number of Cryptocurrencies	Only offers Bitcoin, Ethereum, and USD Coin.
Trading is limited to CFDs, and there are no direct crypto-to-crypto trading pairs available, which might be a limitation for some traders.	Crypto-to-Crypto Trading Pairs	Limited to major coins, restricting diversification opportunities.
The CMC Markets website provides transparent and detailed information about its fees, regulatory status, and services, fostering trust among users.	Website Transparency	TradeStation provides clear and detailed information about its services and fees.
CMC Markets does not offer a card for its clients .	Credit/Debit Card	TradeStation does not have a card for its clients .
CMC Markets does not offer direct crypto storage, as it operates through CFDs, which might not appeal to traders looking for a direct investment in cryptocurrencies.	Storage Offering	Utilizes secure storage solutions with BitGo for crypto assets.
The platform does not offer any staking or rewards programs, which can be a disadvantage for traders interested in earning passive income through their holdings.	Staking and Rewards	No staking or rewards programs available.
CMC Markets provides high-quality mobile and desktop trading platforms with advanced features, ensuring a seamless trading experience across devices.	Mobile App and Desktop	Both platforms are user-friendly and feature-rich, but the mobile app has fewer features.
Customer service is reliable and available 24/5, but the absence of weekend support can be a drawback for traders needing assistance outside regular hours.	Customer Service	Customer service is decent but has room for improvement in response times and support quality.
The platform offers fast and varied deposit methods. Withdrawals are generally quick, though some methods may incur fees, which should be considered by users.	Deposit and Withdraw	Limited methods and high fees for withdrawals, making it less user-friendly.

Key features

Analysis tools

CMC Markets offers the “Next Generation” trading platform with advanced charting tools, technical indicators, and a comprehensive range of research tools. Their MT4 platform also supports algorithmic trading .

TradeStation provides a powerful desktop trading platform with customizable sophisticated analysis tools, custom charts, and a detailed order book for crypto trading. They also offer mobile app trading with improved charting capabilities .

Mobile APP

Yes, CMC Markets offers a highly functional mobile app as part of their “Next Generation” trading platform, providing extensive features for mobile trading .

Yes, TradeStation offers a mobile app that includes advanced charting, trading, and analysis tools .

Security

CMC Markets is regulated by several financial authorities, including the FCA. They provide negative balance protection for UK and EU clients. The broker is listed on the London Stock Exchange, which enhances transparency and security.

TradeStation is regulated by the SEC and FINRA, providing high investor protection levels. They offer SIPC insurance but do not provide negative balance protection. Their parent company is publicly listed, enhancing transparency.

Additional features

CMC Markets provides an extensive range of CFDs, including cryptocurrencies. They offer 19 cryptocurrencies for trading, such as Bitcoin, Ethereum, and Litecoin. The platform features advanced research and educational tools, including a comprehensive learning center. CMC Markets also boasts a high fill rate of 99.9%, making it a great choice for active crypto day traders. However, they do not support trading real stocks and have relatively high stock CFD fees .

TradeStation offers direct cryptocurrency trading for a limited selection of coins, including Bitcoin, Ethereum, and USD Coin. Their platform includes advanced features like strategy development and technical analysis through the TradeStation Master Class. They also support crypto trading in IRAs and provide competitive volume-based fees. However, their crypto offerings have decreased in recent years .

Anonymity

CMC Markets requires identity verification during the account opening process, so anonymous accounts are not possible .

Anonymous accounts are not supported on TradeStation. Personal and financial information along with verification documents are required.

Key points

Available cryptocurrencies

CMC Markets provides trading in cryptocurrency CFDs. Available cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), TRON (TRX), EOS, Stellar Lumens (XLM), Cardano (ADA), and crypto indices such as the All Crypto Index, Major Crypto Index, and Emerging Crypto Index.

TradeStation offers trading in a few cryptocurrencies. The supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) .

User-friendliness

CMC Markets offers a powerful and versatile trading platform that caters well to crypto traders. The Next Generation platform is particularly noted for its configurability and advanced tools. However, the platform might require some time to master due to its extensive features, which can be overwhelming for beginners. Overall, it provides a comprehensive trading experience with access to multiple crypto assets .

TradeStation provides a powerful and intuitive platform for trading cryptocurrencies. The platform is designed to cater to both novice and experienced traders, with a range of tools and features that enhance the trading experience. While the selection of cryptocurrencies is limited, the platform’s overall usability and support make it a solid choice for crypto trading.

Value for money

CMC Markets offers value through competitive pricing and a wide range of tradable instruments. The fees for holding positions overnight are standard, and the platform’s robust tools justify the costs, though its advanced features may be overwhelming for beginners.

TradeStation offers good value with competitive volume-based fees and a range of trading tools. Its inactivity fee of $10 per month and the administrative fee for IRAs might be less attractive for occasional traders.

Countries of operation

United Kingdom, Australia, New Zealand, Singapore, United Arab Emirates .

United States, available to most other countries except restricted regions like North Korea and Sudan .

Best for

CMC Markets caters to experienced traders who appreciate a powerful trading platform with extensive configurability and tools. It is best for those who are comfortable with trading crypto CFDs and are looking for a wide range of cryptocurrency indices to trade.

TradeStation is suited for experienced traders who value advanced trading tools and direct access to crypto trading. Its detailed order book and professional-grade platform make it ideal for those who want to trade and analyze cryptocurrencies deeply.

Account

Trading

CMC Markets offers a wide selection of crypto CFDs, allowing users to trade on price movements without owning the underlying assets. The platform is known for its advanced trading tools and competitive spreads.

TradeStation offers a limited selection of cryptocurrencies but provides a powerful trading platform with advanced tools and features. It is suitable for traders who want to integrate crypto trading with other financial products.

Deposit and withdrawal

CMC Markets offers free deposits and withdrawals via bank transfers and credit/debit cards. The process is straightforward, though withdrawal times can be slightly longer compared to deposits.

TradeStation supports deposits and withdrawals primarily via bank transfers. While the process is secure, it can be slower and more expensive compared to other brokers, with fees for wire transfers.

Account opening process

CMC Markets has an easy and efficient account opening process. Users complete an online application, provide personal and financial details, and upload identification documents. The process is fully digital, and accounts are usually approved quickly.

Opening an account with TradeStation is fully digital and user-friendly. Users need to provide personal and financial information and submit verification documents. The process usually takes one to two business days for approval.

KYC required?

CMC Markets requires KYC verification. Personal identification documents and proof of address must be provided during the account registration process.

TradeStation requires KYC verification. Users need to provide personal identification documents and proof of address before they can start trading.

Customer Service

CMC Markets has a reliable customer service team available 24/5 via phone, email, and live chat. The support is known for being efficient and knowledgeable, helping users with a wide range of issues.

TradeStation provides customer support via phone, email, and live chat. The support is available during market hours and is generally responsive, though some users find the service to be slower during peak times.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert at Threenvest, I recommend CMC Markets for crypto traders who value a secure and user-friendly platform. The advanced charting tools and comprehensive research capabilities make it ideal for both beginners and experienced traders. While the selection of cryptocurrencies is decent, the platform’s robust security measures and regulation by top-tier financial authorities provide added peace of mind. However, keep in mind that customer support is not available on weekends, and the range of cryptocurrencies could be expanded for more trading opportunities.

Xavier Tarrasó

As an expert in the crypto market, I find TradeStation to be a solid platform for those who prioritize security and advanced trading tools. While its cryptocurrency offerings are limited to Bitcoin, Ethereum, and USD Coin, the platform excels in providing a highly regulated environment and robust trading features. TradeStation’s user-friendly interface and comprehensive educational resources make it a suitable choice for both seasoned traders and those looking to gain deeper insights into crypto trading. However, the high withdrawal fees and limited deposit options are areas that could be improved to enhance the overall user experience.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of CMC Markets vs TradeStation [ 2024 ]

CMC Markets

TradeStation

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

CMC Markets

TradeStation

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives CMC Markets and TradeStation