ForexChief vs IC Markets
ForexChief | IC Markets |
---|---|
3.3
|
4.8
|
ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders. |
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries. |
Customer Reviews | |
4.5
Based on 4 ForexChief customer reviews
|
4
Based on 2 IC Markets customer reviews
|
Bonus Offer | |
$100 No Deposit Bonus | |
Comment by Reviewer | |
"ForexChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback." | "IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders." |
Pros | |
|
|
Cons | |
|
|
Awards | |
|
|
Instruments | |
CFDs, Forex, Metals, Commodities, Stocks, Indices | CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$10 | $200 |
Trading Platforms | |
|
|
Payment Methods | |
Minimum Trade | |
0.01 Lots | 0.01 Lots |
Regulator | |
VFSC | ASIC, CySEC, FSA |
Margin Trading | |
Yes | Yes |
Margin Rate | |
0.1% | |
STP Account | |
Yes | No |
ECN Account | |
No | Yes |
DMA Account | |
No | Yes |
MAM Account | |
No | Yes |
PAMM Account | |
Yes | Yes |
LAMM Account | |
No | No |
Demat Account | |
No | No |
AI / Machine Learning | |
No | No |
Robo Advisor | |
No | No |
Negative Balance Protection | |
No | Yes |
Market Maker | |
No | No |
P2P Trading | |
No | No |
Spot Trading | |
Yes | Yes |
Mobile Apps | |
iOS & Android | iOS & Android |
App Review | |
IC Markets deliver mobile apps for their cTrader, MT4, MT5 and TradingView platforms. They have been developed on Android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. Yet what really stands out is how they’ve managed to maintain the lightning-fast execution speed IC Markets is known for, right within the apps. It’s a seamless trading experience that feels both professional and highly responsive. |
|
Android App Rating | |
4.2 |
|
iOS App Rating | |
3.1 |
|
Auto Trading | |
Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade |
Copy Trading | |
Yes | Yes |
Copy Trading Platform | |
Clients can follow copy trading signals on the MetaTrader platform. Alternatively, signal providers can generate extra income by selling their positions. You can start copy trading in a few easy steps. | Launched in February 2023, the IC Social app offers an intuitive way to learn, share, and mirror the positions of other traders with just a few clicks. Additionally, the app features risk management tools and supports dedicated trading groups. Alternatively, IC Markets grants access to Signal Start, along with well-known third-party copy trading platforms including ZuluTrade and cTrader Copy. |
Social Trading | |
No | Yes |
Trade Signals | |
Yes | Signal Start |
VPS Hosting | |
No | Yes |
Tournaments | |
No | No |
Demo Competitions | |
No | No |
Ethical Investing | |
No | No |
Custodial Account | |
No | No |
Guaranteed Stop Loss | |
No | No |
Inactivity Fee | |
$0 | |
Islamic Account | |
Yes | Yes |
Account Currencies | |
|
|
Stock Exchanges | |
Commodities | |
CFD Trading | |
You can trade a competitive range of CFDs encompassing crypto, indices, energies and metals, with very high leverage up to 1:1000. ECN pricing is available, with spreads from 0.0 pips and low commissions from $2.50. A Cent account is also available for those on a smaller budget. | You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike. |
Leverage | |
1:1000 | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) |
FTSE Spread | |
70 | 1.0 |
GBPUSD Spread | |
0.9 | 0.23 |
Oil Spread | |
12 | 0.03 |
Stocks Spread | |
50 | 0.02 |
Forex Trading | |
ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs. Trading takes place on the leading MT4 and MT5 platforms, which offer dozens of in-built technical tools for short-term forex strategies. | IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot. |
Forex App | |
IC Markets deliver mobile apps for both their cTrader and MT5 platforms. Both have been developed on android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. The speed of execution synonymous with IC Markets is retained across their apps. |
|
GBPUSD Spread | |
0.9 | 0.23 |
EURUSD Spread | |
0.4 | 0.02 |
EURGBP Spread | |
0.9 | 0.27 |
Assets | |
40 | 75 |
Cryptocurrency | |
ForexChief’s range of 5 cryptocurrencies paired with USD is smaller than most competitors. In addition, the average BTCUSD spread of 30 pips is not the cheapest. That said, the broker does offer some useful crypto trading guides for beginners. | IC Markets offers 20+ cryptocurrencies which are tradable via CFDs, including lesser-known tokens such as Avalanche, Kusama and Uniswap. Commission-free trading is available, and experienced crypto traders can access high leverage up to 1:200 in the MetaTrader platforms. |
Spread | |
Variable | BTC 42.036 |
Coins | |
|
|
Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
No | No |
More Comparisons | |
ForexChief vs |
IC Markets vs |