Who are CMC Markets's main competitors?

Named competitors: IG Group (IGG.L), Plus500 (PLUS.L), Interactive Brokers (IBKR). The cockpit's measured peer set (industry) also includes Northeast Securities (000686.SZ), Aozora Bank (8304.T), Lincoln International (LCLN), Oshidori International (0622.HK), Shanxi Securities (002500.SZ), Compagnie Financiere Tradition (CFT.SW).

Is CMC Markets expensive compared with its peers?

On forward p/e it trades at 10.5× against a peer median of 13.7×, 4th cheapest of 15 in its peer set.

How has CMC Markets stock performed?

Over six months to 6 Nov 2026 the shares returned +79.1% against -12.2% for the median peer; over one year +220.6%.

← CockpitCompetitor Analysis › CMCX.L CMC Markets PlcOpen in the cockpit ↗

CMC Markets PlcCMCX.LCompetitor analysis, valuation and peers

United Kingdom · GBP·Financials›Investment Banks/Brokers

UK online trading platform offering CFDs and spread betting on shares, forex, indices and commodities.

≈ A UK IG Group peerMomentum leader 93

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$2.54B

US dollars, full cap

Free float

31%

of shares outstanding

$/day

$3.39M

20-day average traded

Fwd P/E

10.5×

forward earnings

ROIC−WACC

n/a

WACC 11.6%

Hurdle

n/a

no reverse DCF

Next earnings

13 days

19 Nov 2026

Close · GBP£678.00

1D-2.5%

1W-2.3%

1M+3.7%

3M-2.0%

6M+79.1%

YTD+126.8%

1Y+220.6%

ATR %4.2%

52w lowhigh13.8% off high

What CMC Markets does

UK online trading platform offering CFDs and spread betting on shares, forex, indices and commodities.

Earns from the spread on client trades plus the net result of client positions it keeps rather than hedges, so income is lumpy and tends to rise with market volatility. Regulators capped retail leverage in the UK and EU in 2018, a lasting limit. Founder Peter Cruddas remains the largest shareholder.

In one line: A UK IG Group peer.

Products and services

CFD trading
Spread betting (UK/Ireland)
Institutional platform (CMC Connect)

Customers

Retail traders (UK, Australia, international)
Institutional/white-label partners

Where it sits in the supply chain

Financials
Retail online trading
CFD & spread betting platform

What could go right

Retail trading volume growth
Institutional platform licensing

What could go wrong

Regulatory leverage restrictions on retail CFDs
Trading-volume dependent revenue

Moat: narrow (brand, regulatory licence, scale). Established trading-technology platform and multi-market regulatory licenses.

Headquarters: London, UK · Founded: 1989

Named competitors

CMC Markets at a glance

Size CMC Markets (CMCX.L) is a United Kingdom Financials company (Investment Banks/Brokers) with a market value of $2.54B, the 146th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £678.00 on 6 Nov 2026.

Performance Over six months the shares gained 79.1%, against -12.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — highest of 20 in its peer set.

Growth Revenue grew 16.1% over the last twelve months (peer median +11.1%); the operating margin is 27.0% (peer median 35.7%).

Valuation It trades at 10.5× forward earnings against a peer median of 13.7× (4th cheapest of 15).

Next results Next results expected around 19 Nov 2026 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: CMC Markets against the median of its 20 peers (local-currency closes).

CMC Markets financials

Reported figures in GBP; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	£411M	£411M	£354M	£354M	£322M
Revenue growth	—	+16%	0%	+10%	—
Gross profit	£371M	£371M	£320M	£312M	£270M
EBITDA	£125M	£125M	£108M	£98.0M	£77.5M
Net income	£74.4M	£74.4M	£62.2M	£46.9M	£41.4M
Free cash flow	£969,000	£969,000	£201M	£72.5M	£64.1M
Capital expenditure	£13.1M	£13.1M	£9.10M	£19.9M	£28.2M
Total debt	n/a	£124M	£21.8M	£16.9M	£11.8M

Quarterly statements and history in the cockpit →

CMC Markets competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. CMC Markets is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. CMC Markets is the large dot.

CMC Markets competitors and peer comparison

Head to head with its named competitors (CMCX.L vs IGG.L vs PLUS.L vs IBKR)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
CMC Markets CMCX.L	$2.54B	+79%	+16%	27%	10.5×	n/a
IG Group Holdings plc IGG.L	$4.23B	-38%	+16%	40%	8.7×	n/a
Plus500 PLUS.L	$3.12B	-26%	+3%	41%	10.4×	n/a
Interactive Brokers IBKR	$129B	-10%	+16%	87%	23.9×	n/a

How CMC Markets compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

CMC Markets against its 20 peers (data as of 6 Nov 2026)
Measure	CMCX.L	Peer median	Rank in peer set
1-month return	+3.7%	-3.2%	4th highest of 21
6-month return	+79.1%	-12.2%	highest of 20
Distance from 52-week high	-13.8%	-26.1%	4th highest of 21
Revenue growth (TTM)	+16.1%	+11.1%	10th highest of 21
Operating margin	27.0%	35.7%	5th lowest of 20
Forward P/E	10.5×	13.7×	4th cheapest of 15

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
CMC Markets CMCX.L	United Kingdom	$2.54B	+79%	+16%	27%	10.5×	n/a	n/a
Northeast Securities 000686.SZ	China	$2.52B	-17%	+1%	23%	11.1×	n/a	n/a
Aozora Bank 8304.T	Japan	$2.60B	+17%	+12%	29%	14.4×	n/a	n/a
Lincoln International LCLN	United States	$2.65B	n/a	+35%	28%	18.3×	n/a	n/a
Oshidori International 0622.HK	Hong Kong	$2.67B	+52%	+71%	47%	n/a	n/a	n/a
Shanxi Securities 002500.SZ	China	$2.73B	-10%	-3%	28%	16.4×	n/a	n/a
Compagnie Financiere Tradition CFT.SW	Switzerland	$2.37B	-15%	+3%	14%	13.1×	n/a	n/a
UOB-Kay Hian U10.SI	Singapore	$2.36B	-29%	+36%	42%	9.4×	n/a	n/a
President Securities 2855.TW	Taiwan	$2.34B	+24%	+796%	32%	n/a	n/a	n/a
flatexDEGIRO FTK.DE	Germany	$2.78B	-27%	+20%	45%	11.1×	n/a	n/a
Yongan Futures 600927.SS	China	$2.83B	-12%	-139%	n/a	24.3×	n/a	n/a
Guosheng Securities 002670.SZ	China	$2.92B	-20%	-11%	11%	n/a	n/a	n/a
Central Depository Services (India) CDSL.NS	India	$2.95B	+5%	+3%	50%	52.1×	n/a	n/a
Central China Securities 601375.SS	China	$2.19B	-6%	+35%	32%	29.3×	n/a	n/a
TP ICAP TCAP.L	United Kingdom	$2.97B	-1%	+4%	11%	8.9×	n/a	n/a
HUAXI Securities 002926.SZ	China	$3.01B	-12%	+10%	36%	11.4×	n/a	n/a
Tata Investment TATAINVEST.NS	India	$3.06B	-22%	+18%	89%	n/a	n/a	n/a
Plus500 PLUS.L	United Kingdom	$3.12B	-26%	+3%	41%	10.4×	n/a	n/a
Minmetals Capital 600390.SS	China	$3.15B	-11%	-62%	60%	51.9×	n/a	n/a
Metaplanet 3350.T	Japan	$2.05B	-27%	+290%	62%	n/a	n/a	n/a
Capital Securities 6005.TW	Taiwan	$2.04B	-7%	+81%	46%	n/a	n/a	n/a

Questions

Who are CMC Markets's main competitors?: Named competitors: IG Group (IGG.L), Plus500 (PLUS.L), Interactive Brokers (IBKR). The cockpit's measured peer set (industry) also includes Northeast Securities (000686.SZ), Aozora Bank (8304.T), Lincoln International (LCLN), Oshidori International (0622.HK), Shanxi Securities (002500.SZ), Compagnie Financiere Tradition (CFT.SW).
Is CMC Markets expensive compared with its peers?: On forward p/e it trades at 10.5× against a peer median of 13.7×, 4th cheapest of 15 in its peer set.
How has CMC Markets stock performed?: Over six months to 6 Nov 2026 the shares returned +79.1% against -12.2% for the median peer; over one year +220.6%.