IC Markets vs Binomo

IC Markets vs Binomo Comparison Table 2023
IC Markets Binomo
4.8
3.4
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced day traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.

Binomo is a beginner-friendly binary options broker that offers trading on forex, stocks and indices via high/low binary options on a simple web-based platform with payouts up to 90% and reliable service. The firm was launched in 2012 and is based offshore.

Comment by Reviewer
"IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders." "Traders who enjoy straightforward, fast-paced trading on forex and stocks should check out Binomo's short-term binary options. The intuitive platform and joining requirements make the brand particularly attractive for newer traders."
Pros
  • Low fees for active traders with spreads from 0.0 pips and zero commissions
  • Premium educational resources and trading tools including podcasts, forex calculators and tick charts
  • Beginner-friendly social trading features including IC Social, Myfxbook, Zulutrade and Signal Start
  • 15+ payment methods in 10 base currencies including PayPal and Skrill
  • Responsive 24/7 customer support plus an extensive help centre
  • Reliable MT4 and cTrader platforms with excellent charting packages
  • Fast order execution speed of under 40ms
  • High leverage up to 1:500
  • Custom-designed platform that works quickly on mobile devices
  • Demo account available to all with no restrictions
  • Low minimum trade value from $1
  • Competitive payouts up to 90%
  • Thousands of daily traders
  • Low minimum deposit of $10
  • Clear tiered account system
Cons
  • No bonus deals for new traders
  • Traders from the US not accepted
  • Two-factor authentication not available for extra account security
  • Contract expiry times of 1 minute to 1 hour are very short term for many traders
  • Limited extra features with no copy trading
  • Small selection of tradeable instruments
  • Weak regulatory oversight
Awards
  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto Fixed Time Trades
Demo Account
Yes Yes
Minimum Deposit
$200 $10
Trading Platforms
  • MT4
  • MT5
  • cTrader
  • DupliTrade
  • Own
Payment Methods
Minimum Trade
0.01 Lots $1
Regulator
ASIC, CySEC, FSA
Margin Trading
Yes No
STP Account
No No
ECN Account
No No
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
Yes No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS, Android & Windows iOS and Android
Auto Trading
Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade BinomoBot tracks 12 moving and 5 technical indicators and can be set up in than 3 minutes.
Copy Trading
Yes No
Copy Trading Platform
The IC Social app is easy-to-use and allows traders to learn, share and mirror positions in a few clicks. The app also hosts risk management tools and facilitates direct messaging and dedicated trading groups. Alternatively, IC Markets provides access to Signal Start, plus popular third-party copy trading tools - ZuluTrade and Myfxbook.
Social Trading
No No
Trade Signals
Signal Start Yes
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0 $30
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • USD
  • EUR
Stock Exchanges
Commodities
CFD Trading
Trade CFDs 24/5 on popular markets including forex, commodities, indices, stocks and bonds. IC Markets offers deep liquidity, raw spreads and high leverage. CFD trading not offered
Leverage
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
FTSE Spread
1
GBPUSD Spread
0.5
Oil Spread
0.03
Stocks Spread
0.02
Forex Trading
Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees. Binomo offers a competitive suit of currencies from majors like EUR/USD to exotics like EUR/MXN. But with contracts spanning 1 minute to 1 hour, the broker is best for short-term forex binary options traders.
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
0.5 N/A
EURUSD Spread
0.1 N/A
EURGBP Spread
0.5 N/A
Assets
55+ 19
Cryptocurrency
IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet. Binomo offers 24/7 fixed time trades on a few major cryptos, including Bitcoin. However this is significantly less than alternatives like Focus Option which offers more than 80 digital tokens.
Spread
BTC 0.4%, ETH 1% N/A
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • DASH
  • XRP
  • EOS
  • EMC
  • NMC
  • PPC
  • BTC
  • LTC
  • BCH
  • ADA
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Binary options trading not offered Binomo offers binary options trading around the clock, including the weekends. You can speculate on the short-term price movements of popular markets, from stocks to currencies. Payouts are competitive climbing to 90% and contracts start from just 1 minute.
Payout
90%
Expiry Times
1 minute - 60 minutes
Ladder Options
No No
Boundary Options
No Yes
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