Written by ForexBrokers.com
In this head to head comparison of eToro vs IC Markets, 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.
eToro and IC Markets were both established in 2007 and are recognized players in the online brokerage world. Neither company is publicly traded nor operates as a bank. However, eToro stands out in terms of regulatory standing, holding three top-tier licenses compared to IC Markets' two. This regulatory strength contributes to eToro's high Trust Score of 93 out of 99, classifying it as a highly trusted broker according to ForexBrokers.com.
IC Markets, on the other hand, achieves a Trust Score of 84, placing it within the trusted category. While it trails behind eToro in terms of tier-1 licenses and overall trust score, IC Markets still retains a strong regulatory presence. Both companies, though not publicly traded or banking entities, offer reliable platforms, albeit with differing levels of regulatory assurance.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Year Founded | 2007 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When it comes to comparing eToro and IC Markets regarding commissions and fees, there are notable differences tailored to different types of traders. eToro, a market-maker broker, typically lists a variable spread of 1 pip on the EUR/USD. This is slightly above the industry average, making eToro less appealing for traders focused solely on low spreads. Instead, eToro is favored for its social copy trading platform and its five-tier VIP Club which grants benefits like discounted fees and account management for higher balance accounts. Despite its offerings, eToro holds a commendable 4.5-star rating, positioned at rank #22 out of 62 brokers in the Commissions and Fees category.
In contrast, IC Markets stands as a strong contender for traders prioritizing low trading costs. With impressively low average spreads such as the effective 0.62 pips on the EUR/USD for its cTrader account, IC Markets competes with top forex brokers in the low-cost category. It provides three account types, including the commission-based Raw Spread accounts compatible with both cTrader and MetaTrader platforms. The platform choice plays a role in commission costs, but overall, IC Markets delivers a competitive rate. Reflecting its strength, IC Markets is rated 5 stars and ranked #5 by ForexBrokers.com for Commissions and Fees.
Overall, the choice between eToro and IC Markets depends on your trading priorities. eToro might be more suitable if you're interested in advanced social trading features and VIP benefits, whereas IC Markets is advantageous for traders keen on minimizing costs with its low spreads and competitive commission structure, especially for high-frequency traders. Whether you prioritize a more interactive trading community or lower costs will guide your choice between these prominent brokers.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $200 |
| Average Spread EUR/USD - Standard | 1 | 0.62 |
| All-in Cost EUR/USD - Active | N/A | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
eToro and IC Markets both provide forex trading options through CFDs or spot contracts, making them competitive choices for trading currencies. When it comes to the range of tradeable symbols, eToro offers a larger selection with 5,461 options, compared to IC Markets' 3,583. However, IC Markets takes a slight lead in forex pairs with 61 compared to eToro's 55. Both platforms support copy trading, providing an avenue for users to mirror successful trades from other investors.
For clients interested in exchange-traded securities, eToro offers a distinct advantage by allowing the purchase of securities on both U.S. and international exchanges, such as Apple shares on NASDAQ. IC Markets limits this option to international exchanges. In the world of cryptocurrency, eToro permits the purchase of actual cryptocurrencies as well as derivatives, whereas IC Markets only offers cryptocurrency derivatives. According to ForexBrokers.com, eToro garners a 5-star rating for its range of investments and is ranked 10th out of 62 brokers, while IC Markets follows closely with a 4.5-star rating, ranking 25th.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 3583 |
| Forex Pairs (Total) | 55 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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.
eToro and IC Markets both provide virtual trading accounts, allowing users to practice trading without financial risk. eToro stands out with its in-house developed, web-based platform, offering seamless browser access. However, it doesn't offer downloadable platforms for Windows users. While eToro lacks integration with popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), it compensates with innovative features like copy trading, which is also available with IC Markets. Indeed, IC Markets offers MT4 and MT5, along with a Windows desktop platform for traditional users, and supports additional services like ZuluTrade for copy trading enthusiasts.
On the charting front, both platforms offer distinct tools but with different focuses. eToro offers an impressive 161 drawing tools but does not support trading directly from stock charts — a feature available with IC Markets. However, when it comes to technical indicators, specifics aren't provided in this comparison. In the realm of watch lists, eToro allows up to six columns, while IC Markets supports seven, offering a slightly more detailed overview. Despite these differences, eToro edges ahead with a trading platform and tools rating of 4.5 stars, ranked 8th by ForexBrokers.com, compared to IC Markets' 4-star rating and 17th rank.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both eToro and IC Markets offer mobile apps for iPhone and Android users, catering to traders looking for flexibility on-the-go. When it comes to stock and forex price alerts, both brokers have you covered, ensuring you never miss an important market movement. However, eToro takes a step ahead with watchlist symbol syncing, allowing seamless integration between mobile and web platforms. This feature is notably absent in IC Markets. In terms of charting options, eToro provides 104 technical studies, making it a great choice for those who like to dive deep into analysis. IC Markets, while offering fewer studies at 30, brings the ability to draw trendlines, which eToro's app lacks.
Time frame flexibility is available with both brokers, allowing traders to switch between daily, weekly, and intraday views. Yet, when it comes to auto-saving drawings, IC Markets edges forward, saving users the hassle of manually preserving their chart work. Both apps let users create watchlists with real-time quotes, keeping essential information at your fingertips. When considering the overall user experience, eToro receives a 4.5-star rating for its mobile trading app, ranking #11 out of 62 brokers, while IC Markets follows closely behind with 4 stars and a rank of #22. These ratings reflect the nuanced differences in features and user satisfaction, helping you choose based on what's most critical for your trading style.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing eToro and IC Markets for market research offerings, both brokers provide daily market commentary and include sentiment-based trading tools that help users understand trading trends. However, their services show distinct differences. eToro integrates research from Trading Central and offers unique insights with TipRanks, making it a reliable choice for market information. It also provides an economic calendar to keep traders informed of global events. Although eToro doesn't offer forex news from top-tier sources like Bloomberg or Reuters, its combination of insights and tools helps it secure a 4.5-star rating, ranking 13th among 62 brokers for research.
In contrast, IC Markets delivers forex news from leading global sources such as Bloomberg and Reuters, providing high-quality information to its users. The broker also incorporates tools from Autochartist and Trading Central, offering a well-rounded approach to technical analysis. Additionally, IC Markets provides an economic calendar similar to eToro. Despite lacking TipRanks research, IC Markets still garners a respectable 4-star rating, placing 22nd in research among 62 brokers. Overall, traders might favor eToro for its exclusive research tools, while IC Markets stands out for offering news from top-tier sources.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing eToro and IC Markets for educational resources aimed at beginners, both brokers provide a range of materials to facilitate learning in forex and CFDs trading. Both platforms feature more than ten educational pieces, including articles, videos, and archived webinars, ensuring that newcomers have access to a variety of learning content. They also host live webinars monthly, along with maintaining a searchable archive for clients who prefer on-demand learning. Beginners can find at least ten instructional videos tailored specifically for those just getting started, available from both providers.
The educational offerings extend beyond beginner content, as both eToro and IC Markets provide advanced videos for more experienced traders. Each broker also offers an investor dictionary with definitions for over 50 investing terms, aiding in the understanding of trading jargon. However, eToro edges ahead with a higher education rating of 4.5 stars out of five, compared to IC Markets' 4 stars. Additionally, eToro ranks higher at #5 in ForexBrokers.com's education category, while IC Markets comes in at #16. Thus, while both brokers deliver valuable learning tools, eToro slightly surpasses IC Markets in overall educational quality and reputation.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 eToro is better than IC Markets. eToro finished with an overall rank of #9, while IC Markets finished with an overall rank of #20.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 84 |
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eToro enables investors to purchase actual cryptocurrency alongside cryptocurrency derivatives, while IC Markets solely offers opportunities to invest in cryptocurrency derivatives.
eToro and IC Markets both offer various payment options, including PayPal, Skrill, Visa, Mastercard, and bank wires, but eToro additionally provides ACH and SEPA transfer options, which IC Markets does not support.
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 | eToro | IC Markets | |
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| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | eToro Review | IC Markets Review |
| Broker Screenshots | eToro | IC Markets | |
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| Regulation | eToro | IC Markets | |
|---|---|---|---|
| Trust Score | 93 | 84 | |
| Year Founded | 2007 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | eToro | IC Markets | |
|---|---|---|---|
| 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) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 3583 | |
| Forex Pairs (Total) | 55 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | eToro | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 0.62 | |
| All-in Cost EUR/USD - Active | N/A | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | eToro | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | eToro | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | IC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | eToro | IC Markets | |
|---|---|---|---|
| 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 | eToro Review | IC Markets Review |
| Overall | eToro | IC Markets | |
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| Trust Score | 93 | 84 | |
| Winner | check_circle | ||
| Review | eToro Review | IC Markets Review |
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