IC Markets vs FXCM

IC Markets vs FXCM Comparison Table 2024
IC Markets	FXCM
Review 4.8	Review 3.5

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.	FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.
Customer Reviews
4 Based on 2 IC Markets customer reviews
Comment by Reviewer
"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."	"FXCM maintains its position as a top pick for traders deploying automated trading strategies, with four powerful platforms, strategy backtesting and algo trading through APIs. The broker is also great for active traders, with discounted spreads and low to zero commissions on popular assets."
Pros
IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders. As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally. With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders. IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues. You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.	Alongside the 4 charting platforms, FXCM also offers a market-leading range of specialist software for experienced investors, including QuantConnect, AgenaTrader and Sierra Chart The proprietary Trading Station terminal is a good choice for day traders looking for an all-in-one solution for their short-term and automated trading strategies Traders can utilize several top-tier trading tools including a market scanner, forex signals and third-party research site, eFXPlus FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history A range of funding methods are available including bank cards, Apply Pay and PayPal, with instant processing times The broker offers spread discounts and other excellent perks for experienced traders in the Active Trader account FXCM has expanded its range of trading opportunities with 24-hour stock CFDs through MetaTrader 4
Cons
While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes. The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners. There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals. Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind. Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.	Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer There is no choice of retail accounts for traders, nor any Cent/Micro account options The live chat support can be slow and unreliable compared to the top competitors
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	CFDs, Forex, Stocks, Cryptos, Commodities
Demo Account
Yes	Yes
Minimum Deposit
$200	$50
Trading Platforms
MT4 MT5 cTrader TradingView TradingCentral DupliTrade	Trading Station MT4 TradingView eSignal
Payment Methods
BPAY Credit Card Klarna Mastercard Neteller PayPal POLi Rapid Transfer SafeCharge Skrill Swift UnionPay Visa Wire Transfer	Apple Pay Credit Card Debit Card Google Wallet Klarna PayPal POLi Wire Transfer
Minimum Trade
0.01 Lots	Variable
Regulator
ASIC, CySEC, FSA	FCA, CySEC, ASIC
Margin Trading
Yes	Yes
STP Account
No	No
ECN Account
Yes	No
DMA Account
Yes	No
MAM Account
Yes	Yes
PAMM Account
Yes	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
Yes	Yes
Market Maker
No	Yes
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS & Android	iOS and 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, cBots on cTrader, Myfxbook AutoTrade
Copy Trading
Yes	Yes
Copy Trading Platform
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.	FXCM offers social and copy trading on forex, CFDs and cryptos through the hugely popular ZuluTrade platform. The sign-up process is quick and you can track your performance in real-time.
Social Trading
Yes	Yes
Trade Signals
Signal Start
VPS Hosting
Yes	No
Tournaments
No	No
Demo Competitions
No	Yes
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$0
Islamic Account
Yes	No
Account Currencies
USD EUR GBP CAD AUD NZD JPY CHF HKD SGD	USD EUR GBP CAD AUD ZAR CHF
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng IBEX 35 Nasdaq New York Stock Exchange Russell 2000 S&P 500	Euronext IBEX 35 Russell 2000
Commodities
Cocoa Coffee Corn Gold Natural Gas Oil Orange Juice Silver Soybeans Sugar Wheat	Cannabis Gold Oil Silver
CFD Trading
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.	You can trade a range of CFD instruments across forex, shares, indices and commodities. There’s an excellent selection of platforms for day traders, including TradingView and MT4, plus additional tools for experienced algo traders including API solutions.
Leverage
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)	1:30
FTSE Spread
1.0	1.18 pts var*
GBPUSD Spread
0.23	0.5 pips*
Oil Spread
0.03	0.05 (var)*
Stocks Spread
0.02	0.2% Var*
Forex Trading
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.	FXCM offers an average range of 40+ currency pairs, although there are no commissions and spreads are competitive from 0.78 pips for EUR/USD. The broker also offers 3 forex baskets covering USD, Yen and emerging markets benchmarks.
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
0.23	0.5 pips var*
EURUSD Spread
0.02	0.2 pips var*
EURGBP Spread
0.27	0.5 pips var*
Assets
75	40
Currency Indices
	JPY
Cryptocurrency
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.	You can trade some of world's most popular digital coins with zero commission and leverage up to 1:4. FXCM also stands out for its crypto major basket which offers exposure to Bitcoin, Ethereum, Litecoin and Bitcoin Cash in one trade.
Spread
BTC 42.036	Variable
Coins
BTC BCH DOT DSH EMC EOS ETH LNK LTC NMC PPC XLM XRP ADA BNB DOG UNI XTZ	BTC ETH LTC BTC
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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