IC Markets vs SimpleFX

IC Markets vs SimpleFX Comparison Table 2023
IC Markets Review 2023 SimpleFX Review 2023
4.8
4.2
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 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.

SimpleFX is an offshore forex, CFD and cryptocurrency broker with over 200,000 clients globally. The broker offers a proprietary trading solution, as well as the reputable MT4 platform. Traders can access a vast selection of digital assets with crypto deposits and multi currency accounts.

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." "SimpleFX is best for crypto traders looking for staking services and a social trading community to exchange ideas and signals."
Pros
  • Low fees 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 and Zulutrade
  • 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 and mobile apps
  • Fast order execution speed of under 40ms
  • High leverage up to 1:500
  • API & VPS support
  • SimpleFX crypto coin
  • Fast customer service
  • Beginner-friendly platform
  • Multi-currency single account
  • Lightning fast Bitcoin payments
  • Community forum to share trading ideas
  • Crypto staking solution with no starting deposit
Cons
  • No bonus deals for new traders
  • Traders from the US not accepted
  • Two-factor authentication not available for extra account security
  • Weak regulatory oversight
  • No MetaTrader 5 integration
  • Limited non-crypto funding methods
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
  • The Best Trading Platform Cryptocurrency, World Expo 2022 - Warsaw
  • Best Mobile App 2020 - Rankia Awards
  • The Best Trading Platform, Finance World Expo 2019 - Zug
  • Best Cryptocurrency Trading Platform, Cryptocurrency World Expo 2018 - Berlin
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto Forex, indices, shares, commodities, cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$200 $0
Trading Platforms
  • MT4
  • MT5
  • cTrader
  • DupliTrade
  • MT4
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, FSA
Margin Trading
Yes Yes
STP Account
No Yes
ECN Account
No No
DMA Account
Yes Yes
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
Yes No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No Yes
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS, Android & Windows iOS, Android + Web Trader
Auto Trading
Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade Yes
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 popular third-party copy trading tools - ZuluTrade and Myfxbook.
Social Trading
No Yes
Trade Signals
Yes (Via Robot Feature) Yes
VPS Hosting
Yes Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0 3%
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • USD
  • EUR
  • GBP
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. Go long or short on over 170 CFDs with high leverage up to 1:500. The broker's social community is also a great place to pick up CFD strategy tips and trading ideas.
Leverage
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:500
FTSE Spread
1 1.3
GBPUSD Spread
0.5 1.2
Oil Spread
0.03 0.03
Stocks Spread
0.02 Variable
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. SimpleFX offers a competitive suite of 60 forex pairs with average spreads of 0.9 pips. The charting features are extensive, with convenient mobile and desktop access for all experience levels.
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 1.2
EURUSD Spread
0.1 0.9
EURGBP Spread
0.5 0.9
Assets
55+ 60
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. SimpleFX offers popular crypto coins including Bitcoin and Ethereum paired with the USD. Traders benefit from feature-rich analysis tools as well as a bespoke staking service where capital can be used for margin trading.
Spread
BTC 0.4%, ETH 1% From 0.0001
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • DASH
  • XRP
  • EOS
  • EMC
  • NMC
  • PPC
  • BTC
  • BHC
  • LTC
  • ETH
  • ETC
  • XRP
  • LNK
  • WAV
  • XTZ
  • YFI
  • ADA
  • DOT
  • EOS
  • NEO
  • BNB
  • XMR
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
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