IC Markets vs Scope Markets

IC Markets vs Scope Markets Comparison Table 2024
IC Markets	Scope Markets
Review 4.8	Review 4.2

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.	Scope Markets offers day trading and investing in multiple spot and CFD instruments. The group of brokers is regulated in several locations, including Belize, Kenya and South Africa. Users get competitive trading conditions, a range of payment methods, strong support and can get started in a few straightforward steps.
Customer Reviews
4 Based on 2 IC Markets customer reviews
Bonus Offer
	50% Deposit Bonus Up to $50,000. *Bonus promotions do not apply to all entities. Depending on the jurisdiction chosen to open an account with, different regulations apply.
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."	"Scope Markets continues to appeal to experienced short-term traders seeking highly leveraged CFDs and spot investment products on the powerful MetaTrader 5 platform. Investors can also access additional trading tools, including premium signals and PAMM/MAM accounts. "
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.	There's a decent range of research and analysis resources including a market blog, forex calculators and an economic calendar Day traders can access both the MT4 and MT5 platforms, with support for Expert Advisors (EAs) and auto trading strategies The Scope Trader proprietary platform offers high quality technical features, including 50+ charting tools The broker offers multilingual, 24/5 customer support via telephone, email and live chat
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.	Spreads are wider than some alternatives, starting from 0.9 pips for major pairs - the best brokers offer spreads from 0.0 pips Scope Markets is not overseen by any of the top-tier regulators in the US, Europe or Australia Educational resources are very limited which will reduce the appeal for beginners
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	Forex, CFDs, Stocks, Commodities, Indices, Futures
Demo Account
Yes	Yes
Minimum Deposit
$200
Trading Platforms
MT4 MT5 cTrader TradingView TradingCentral DupliTrade	Scope Trader MT4 MT5
Payment Methods
BPAY Credit Card Klarna Mastercard Neteller PayPal POLi Rapid Transfer SafeCharge Skrill Swift UnionPay Visa Wire Transfer	Credit Card Debit Card M-Pesa Mastercard Neteller Skrill Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 lots
Regulator
ASIC, CySEC, FSA	CMA, FSC, FSCA
Margin Trading
Yes	Yes
STP Account
No	No
ECN Account
Yes	No
DMA Account
Yes	No
MAM Account
Yes	No
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	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, cBots on cTrader, Myfxbook AutoTrade	Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes	No
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.
Social Trading
Yes	No
Trade Signals
Signal Start
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	$10
Islamic Account
Yes	Yes
Account Currencies
USD EUR GBP CAD AUD NZD JPY CHF HKD SGD	USD EUR GBP
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	Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Deutsche Boerse Euronext FTSE UK Index Hong Kong Stock Exchange Japan Exchange Group Nasdaq SIX Swiss Exchange
Commodities
Cocoa Coffee Corn Gold Natural Gas Oil Orange Juice Silver Soybeans Sugar Wheat	Gold Natural Gas Oil Palladium Platinum 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 hundreds of CFDs on major asset classes including currencies, shares and futures. Spreads are not overly competitive starting at 0.9 pips, although the $50 minimum deposit and zero commissions will allow active traders to keep their costs down.
Leverage
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)	1:2000
FTSE Spread
1.0	0.4
GBPUSD Spread
0.23	1.0
Oil Spread
0.03	0.2
Stocks Spread
0.02	Variable
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.	Scope Markets offers 40+ major, minor and exotic currency pairs. Although the range is average, experienced traders can access very high leverage up to 1:2000. Additionally, the broker’s proprietary terminal delivers advanced analysis tools, including a live forex heatmap.
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	1.0
EURUSD Spread
0.02	1.0
EURGBP Spread
0.27	1.0
Assets
75	44
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.	Traders can go long or short on popular cryptos like Bitcoin, Ethereum and Ripple paired with USD. Trading is available on the MT5 platform, which offers an excellent environment for short-term crypto strategies, with 21 chart timeframes and dozens of indicators.
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 XRP XMR ZEC BCH DASH
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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