Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Axi, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 2007, both IC Markets and Axi have established themselves as respected online brokers. Neither of these companies is publicly traded or operates as a bank. When it comes to regulatory trustworthiness, IC Markets and Axi each hold two Tier-1 licenses, which indicates a high level of trust, according to ForexBrokers.com. However, Axi also holds one Tier-2 license, adding another layer of regulated credibility. These licenses help ensure that the brokers operate in a secure, reliable manner for traders.
In terms of overall trust scores from ForexBrokers.com, IC Markets edges out Axi with a score of 84 compared to Axi's 82, placing both brokers within the "trusted" category. While there are slight differences in their regulatory licenses and trust scores, both IC Markets and Axi offer reliable options for those exploring this field. Traders can feel confident knowing that both brokers are held to high standards that prioritize user security and trust.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Year Founded | 2007 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing the commission and fee structures of IC Markets and Axi, IC Markets stands out as a top contender, especially for traders seeking cost-efficient trading. IC Markets is renowned in the industry for its competitive pricing models, particularly with its commission-based accounts. Offering three types of accounts—the commission-free Standard, and the commission-based Raw Spread and cTrader Raw Spread—IC Markets caters to different trading needs. The cTrader account charges a notably lower commission at $3.00 per side for every 100,000 units, slightly edging out the MetaTrader platform at $3.50 per side. The result is a highly competitive all-in cost, especially for the EUR/USD pair, with averages as low as 0.62 pips for cTrader users. These attractive spreads contribute to IC Markets’ five-star rating in commissions and fees and its impressive fifth-place ranking out of 62 brokers on ForexBrokers.com.
On the other hand, Axi does not provide the same level of detail when it comes to average spread data, making direct comparisons on specific costs challenging. However, Axi maintains a respectable reputation with a four-star rating in commissions and fees. Despite being priced less aggressively compared to IC Markets, Axi still offers a competitive edge over many other brokers. Axi's overall ranking in the Commissions & Fees category by ForexBrokers.com sits at 44 out of 62 brokers, suggesting room for improvement when measured against industry leaders like IC Markets.
In summary, IC Markets leads in the realm of cost-effectiveness with its streamlined pricing and comprehensive account options. Its recognition as Best in Class for Commissions & Fees in the 2024 Annual Awards further cements its status as a prime choice for traders looking to minimize costs. While Axi provides a solid offering, those focused heavily on reducing trading expenses may find IC Markets' fee structure more appealing.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by IC Markets and Axi, both brokers provide forex trading via CFDs or spot contracts, with slight differences in the breadth of their offerings. IC Markets stands out with an impressive 3,583 tradeable symbols, significantly more than Axi's 175. Despite this, Axi offers a slightly higher number of tradeable forex pairs at 65 compared to IC Markets' 61. However, neither platform allows clients to purchase exchange-traded securities on U.S. exchanges like Apple shares. While IC Markets grants access to international exchange-traded securities such as Vodafone shares, Axi does not, highlighting a key difference in their offerings.
Both IC Markets and Axi provide the opportunity for copy trading and enable clients to trade cryptocurrency derivatives. However, neither platform supports the purchase of actual cryptocurrencies. According to ForexBrokers.com, IC Markets receives a higher investment range rating of 4.5 stars, ranking 25th out of 62 brokers, while Axi gets 3.5 stars and sits at 55th place. For investors seeking a wider array of trading symbols and international stock access, IC Markets may present a broader investment landscape than Axi.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 175 |
| Forex Pairs (Total) | 61 | 65 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing IC Markets and Axi in terms of trading platforms and tools, both brokers offer several features that cater to the needs of traders. They both provide a free virtual demo account, allowing clients to practice trading without using real funds. Neither IC Markets nor Axi offer proprietary platforms, opting instead to provide access to popular options like MetaTrader 4 (MT4). While IC Markets also supports MetaTrader 5 (MT5), Axi does not. Both brokers offer Windows-based desktop download and web-based platforms, simplifying access and convenience. Additionally, they both support ZuluTrade for copy trading, but neither offers DupliTrade. For charting, both provide 15 drawing tools, but specific numbers of technical indicators are not disclosed.
IC Markets and Axi both enable trading directly from stock charts and offer watch lists with seven columns. In terms of ratings and rankings, IC Markets edges out Axi with a 4-star rating for trading platforms and tools, compared to Axi’s 3.5-star rating. According to ForexBrokers.com, IC Markets is ranked 16th out of 62 brokers in this category, showcasing its superior platform offerings. Conversely, Axi is placed at 62nd, indicating room for improvement in its trading platform solutions. Overall, IC Markets tends to offer a more versatile and accommodating trading experience for those seeking diverse platform features.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
If you're choosing between the mobile trading apps of IC Markets and Axi, both offer iPhone and Android apps with similar core features. They each support stock and forex price alerts and the ability to create watchlists with real-time quotes. Both apps allow users to draw trendlines and view multiple time frames on charts, making them handy tools for traders. However, neither app offers watchlist symbol syncing between the mobile app and their respective online accounts. Each app features 30 technical studies for in-depth chart analysis.
There are some notable differences, though. IC Markets provides an automatic save function for drawings made on charts, whereas Axi does not. In terms of user ratings, IC Markets stands stronger with a four-star rating, compared to Axi's 3.5 stars. Reflecting these ratings, IC Markets is ranked 22nd out of 62 brokers for mobile trading apps by ForexBrokers.com, while Axi sits at 59th. This makes IC Markets an overall more favorable choice for traders looking for a slightly more enhanced mobile trading experience.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing IC Markets and Axi for market research, IC Markets clearly stands out with its daily market commentary. Both brokers offer forex news from top-tier sources like Bloomberg and Reuters, ensuring access to quality information. However, when it comes to technical analysis tools, IC Markets has an advantage by offering tools from both Autochartist and Trading Central. In contrast, Axi provides tools from Autochartist but lacks offerings from Trading Central. Both brokers supply sentiment-based trading tools, giving traders insights into market positioning, and provide economic calendars for tracking global economic news.
In terms of ratings, IC Markets earns 4 stars for research capabilities and ranks #23 out of 62 brokers on ForexBrokers.com. This is a significant lead over Axi, which holds a 3-star rating and ranks #55 in the same category. Neither IC Markets nor Axi offers research tools from TipRanks or Acuity Trading, but the comprehensive suite of resources and tools offered by IC Markets provides a more extensive support system for trader research needs compared to Axi.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets and Axi both provide educational resources aimed at helping beginners understand forex and CFDs. Both brokers offer over 10 educational materials, including articles, videos, and webinars, making them accessible options for new traders seeking foundational knowledge. IC Markets stands out with a monthly schedule of interactive webinars and a searchable archive of past sessions, allowing users to explore a wide range of topics at their own pace. Axi also conducts monthly webinars, although it does not offer an archive of past webinars.
For beginners, both IC Markets and Axi provide over 10 educational videos designed specifically to ease the learning curve. However, when it comes to advanced content, IC Markets provides more in-depth resources, offering over 10 videos focused on more complex trading strategies, which Axi does not. Both brokers supply a comprehensive investor dictionary with definitions of more than 50 investing terms, making it a useful tool for those new to trading jargon. Overall, IC Markets achieves a higher education rating with four stars and ranks 16th out of 62 brokers, whereas Axi is rated three stars and ranks 27th. This suggests IC Markets may be a more comprehensive choice for those looking to deepen their trading knowledge.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IC Markets is better than Axi. IC Markets finished with an overall rank of #20, while Axi finished with an overall rank of #49.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 82 |
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Both IC Markets and Axi do not provide the option to purchase actual delivered cryptocurrencies, but they both offer the ability to trade cryptocurrency derivatives.
When comparing the online brokers IC Markets and Axi, it is notable that while both offer Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, only IC Markets provides PayPal as a payment method, whereas neither broker supports ACH or SEPA transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IC Markets | Axi | |
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| Trust Score | 84 | 82 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | Axi | |
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| Regulation | IC Markets | Axi | |
|---|---|---|---|
| Trust Score | 84 | 82 | |
| Year Founded | 2007 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IC Markets | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 175 | |
| Forex Pairs (Total) | 61 | 65 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IC Markets | Axi | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Axi | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | Axi | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | IC Markets | Axi | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | Axi | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IC Markets | Axi | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | Axi | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IC Markets Review |
| Overall | IC Markets | Axi | |
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| Trust Score | 84 | 82 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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