Comparison of Webull vs CMC Markets [ 2024 ]

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

Your expert: Alejandro Borja

Webull

  • Threenvest valuation: 4,8/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 11 (CFDs)
Go crypto broker

Your expert: Xavier Tarrasó

CMC Markets

  • Threenvest valuation: 4,7/5
  • Investor protection: Yes
  • Security: 5/5
  • Available cryptocurrencies: 11 (CFDs)
Go crypto broker

Main points

Fees

Low 4,8/5

Regulated

SEC, FINRA

Demo account

Yes
Low 4/5

Fees

FCA, ASIC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

No
Yes

Beginners

Yes

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

3.6 – Webull charges a spread of 1% on crypto trades, which is relatively high compared to some other brokers. However, the platform offers commission-free trading and a user-friendly experience .
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 .

Level

Low 4,8/5
Low 4/5

Brief explanation

Webull offers commission-free trading on its platform, making it an attractive option for cost-conscious investors. However, it charges a 1% spread on cryptocurrency trades, which is effectively the platform’s fee. This spread is relatively high compared to some other platforms, but it ensures that users do not face additional explicit trading fees. Webull does not charge for deposits and withdrawals made via ACH transfers, although wire transfers incur fees of $8 for deposits and $25 for withdrawals. Overall, Webull’s fee structure is straightforward and competitive for a platform offering commission-free trading .
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.

Webull

Read Webull review
  • Year Founded: Established in 2017, Webull has rapidly gained a solid reputation in the financial market, reflecting its stability and reliability in the industry.
  • Number of Users: Webull boasts millions of users globally, demonstrating widespread trust and adoption among retail investors and traders.
  • Security Methods: Webull employs robust security measures, including two-factor authentication (2FA) and encryption protocols, ensuring the safety and protection of users' funds and personal information.
  • Regulation: Webull is regulated by top-tier financial authorities, including the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States, providing an extra layer of security and trust.
  • Customer Service: Webull offers responsive customer service through various channels, including email, phone, and live chat, ensuring users can get assistance when needed.
  • Pros
  • Intuitive interface for beginners.
  • Offers major cryptocurrencies.
  • Zero commission crypto trading.
  • Cons
  • Limited cryptocurrency selection.
  • No crypto wallet services.

CMC Markets

Read CMC Markets review
  • 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.
  • Pros
  • Wide range of cryptocurrency CFDs.
  • Competitive dynamic crypto spreads.
  • Advanced charting and analysis tools.
  • Cons
  • No real cryptocurrency ownership.
  • High stock CFD fees.

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Product selection

Native token

Webull does not have a native token.
CMC Markets does not have a native token.

Earns

Webull does not offer staking or other earning options for cryptocurrencies. It focuses on trading a limited number of digital assets .
CMC Markets does not support staking or other crypto earning programs. It provides trading through crypto CFDs and spread betting .

NFT marketplace

Webull does not have an NFT marketplace.
CMC Markets does not have an NFT marketplace.

Cripto/debit card

Webull does not offer a card for its clients .
CMC Markets does not offer a card for its clients .

Company information

Full name

Webull Financial LLC​​.
CMC Markets UK Plc​​.

Regulation

SEC, FINRA (USA)​​.
FCA (UK), BaFin (Germany/EU), IIROC (Canada), ASIC (Australia), FMA (New Zealand), MAS (Singapore), DFSA (Dubai)​​.

Year founded

2017​​
1989​​

Founder

Anthony Denier
Peter Cruddas​​

Payment methods

Transfers

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

Mastercard

No, Webull does not accept Mastercard for deposits​​.
Yes, CMC Markets accepts Mastercard for deposits​​.

Wire transfer

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

Card

Information about Webull’s acceptance of credit/debit cards is not explicitly stated in the retrieved documents.
Yes, CMC Markets accepts credit/debit cards .

Comparative table

Webull Features CMC Markets
Webull has a low minimum trade requirement, making it accessible for all users, particularly beginners.
Minimum Trade
The minimum trade size at CMC Markets is low, making it accessible for beginners who want to start trading with smaller amounts.
While Webull offers commission-free trading, the 1% spread on crypto trades is relatively high compared to other platforms.
Trading and Transaction Fees
While CMC Markets offers competitive spreads, the stock CFD fees are relatively high compared to other exchanges.
Webull supports 11 different cryptocurrencies, providing a decent variety for users to choose from.
Number of Cryptocurrencies
With around 19 cryptocurrencies available, the selection is decent but fewer than some competitors that offer a broader range.
The platform does not support trading cryptocurrencies directly against each other, limiting trading strategies.
Crypto-to-Crypto Trading Pairs
Trading is limited to CFDs, and there are no direct crypto-to-crypto trading pairs available, which might be a limitation for some traders.
The website provides clear and detailed information on fees and trading conditions, but the user experience and navigation could be improved.
Website Transparency
The CMC Markets website provides transparent and detailed information about its fees, regulatory status, and services, fostering trust among users.
Webull does not offer a card for its clients .
Credit/Debit Card
CMC Markets does not offer a card for its clients .
Webull does not offer wallet services or the ability to transfer crypto assets off the platform, limiting control over assets.
Storage Offering
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.
There are no staking or rewards programs available for crypto holders on Webull.
Staking and Rewards
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.
Webull’s mobile app and desktop platform are excellent, featuring advanced charting tools and a user-friendly interface.
Mobile App and Desktop
CMC Markets provides high-quality mobile and desktop trading platforms with advanced features, ensuring a seamless trading experience across devices.
Customer service is available through various channels, but phone support is lacking, and response times can be slow.
Customer Service
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.
The process is easy, but limited to bank transfers, which can be slower and less convenient compared to other methods like credit/debit cards.
Deposit and Withdraw
The platform offers fast and varied deposit methods. Withdrawals are generally quick, though some methods may incur fees, which should be considered by users.

Key features

Analysis tools

Webull provides advanced charting and screener tools, dozens of technical indicators, and in-depth charting features. They also offer educational resources and a mobile-first trading experience .
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 .

Mobile APP

Yes, Webull offers a highly rated mobile app that supports advanced features like charts, indicators, and paper trading .
Yes, CMC Markets offers a highly functional mobile app as part of their “Next Generation” trading platform, providing extensive features for mobile trading .

Security

Webull is regulated by the SEC and FINRA in the US, providing high investor protection levels. They offer SIPC insurance up to $500,000, including a $250,000 cash limit. However, they do not provide negative balance protection​​.
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​​.

Additional features

Webull offers cryptocurrency trading through their Webull Pay app, which supports eight cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The platform features a highly rated mobile app with advanced tools like charts and indicators. Webull provides competitive commissions and allows for fractional share trading, but lacks crypto-crypto trading pairs and wallet compatibility .
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 .

Anonymity

Webull does not support anonymous accounts. Users must submit personal information and verification documents during the account opening process .
CMC Markets requires identity verification during the account opening process, so anonymous accounts are not possible .

Key points

Available cryptocurrencies

Webull offers trading in cryptocurrencies but does not allow transfer of crypto assets on or off the platform. The available cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Dogecoin (DOGE), and others totaling 11 different 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​​.

User-friendliness

Webull offers a streamlined and user-friendly mobile app for trading cryptocurrencies. The platform’s advanced charting tools and community features enhance the user experience. However, Webull’s focus on simplicity means it may lack some advanced features found in other platforms. Overall, it’s a solid choice for those looking for an easy and accessible way to trade crypto .
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 .

Value for money

Webull provides great value for money with commission-free trading and advanced tools suitable for active traders. However, the inability to transfer cryptocurrencies off the platform could be a limitation for some users​​.
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​​.

Countries of operation

United States, India, China, South Korea, most countries that permit crypto trading .
United Kingdom, Australia, New Zealand, Singapore, United Arab Emirates .

Best for

Webull is ideal for active traders who want a commission-free platform with advanced charting tools and a wide selection of tradable assets. It’s best for those who don’t need to transfer cryptocurrencies off the platform and value a seamless mobile experience​​.
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​​.

Account

Trading

Webull allows direct cryptocurrency trading with a user-friendly interface and zero commissions. It offers a decent range of cryptocurrencies, making it a good choice for retail traders.
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.

Deposit and withdrawal

Webull allows deposits and withdrawals via ACH and wire transfers. The process is free and generally quick, but wire transfers can be more expensive compared to ACH transfers.
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.

Account opening process

Opening an account with Webull is straightforward and fully digital. Users complete an online application, provide personal and financial information, and verify their identity. Accounts are typically approved within one to two business days.
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.

KYC required?

KYC verification is mandatory at Webull. Users must provide personal identification documents and proof of address as part of the account registration process.
CMC Markets requires KYC verification. Personal identification documents and proof of address must be provided during the account registration process.

Customer Service

Webull offers customer support through email and in-app messaging. They also provide phone support during market hours. The support is generally responsive, though some users find the service to be slower during peak times.
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.

Security

Webull is regulated by the SEC and FINRA in the US, providing high investor protection levels. They offer SIPC insurance up to $500,000, including a $250,000 cash limit. However, they do not provide negative balance protection​​.
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​​.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Webull for those interested in cryptocurrency trading due to its commission-free model and advanced trading tools. The platform’s user-friendly interface and excellent mobile app make it suitable for both beginners and experienced traders. However, keep in mind that Webull does not allow crypto transfers off-platform, which might be a limitation for some users. Overall, Webull is a solid choice for cost-effective and convenient crypto trading.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

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.

Read Webull review

View all comparisons against Webull

Read CMC Markets review

View all comparisons against CMC Markets

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.

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