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.
When comparing eToro and IC Markets for their trading platforms and tools, both platforms provide a simulated trading experience with free virtual demo accounts, catering to beginners and experienced traders alike. eToro shines with its proprietary, web-based platform that supports copy trading, offering a seamless and user-friendly interface. However, it lacks a Windows-based desktop option and support for popular trading tools like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). With 161 drawing tools for charting, eToro provides extensive charting capabilities, but it doesn’t allow trading directly from the chart. In terms of watch list customization, it offers six columns for traders to configure.
IC Markets, on the other hand, stands out with its compatibility with both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with offering a Windows-based desktop trading platform. It also supports web-based trading and features like copy trading and integration with ZuluTrade for social trading enthusiasts. Despite having fewer drawing tools compared to eToro, IC Markets presents a broader range of technical indicators and allows trading directly from stock charts, offering greater operational convenience. With seven columns available for watch list customization, IC Markets provides ample room for traders to organize their preferences. While eToro holds an impressive 4.5-star rating for its platforms and tools, IC Markets earns a respectable 4-star rating, making them both solid choices based on individual trading priorities and needs.
| 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.
When choosing between eToro and IC Markets for mobile trading, both platforms offer user-friendly apps available for iPhone and Android, complete with stock and forex price alerts. eToro stands out with its convenient watchlist symbol syncing, allowing seamless integration across devices. In terms of charting features, eToro provides a wide array of 104 technical studies, though it lacks the ability to draw trendlines, a feature IC Markets does offer. Furthermore, while IC Markets excels with auto-saving drawings, eToro allows for multiple time frame views and real-time quote watchlists, equipping traders with tools to stay informed and agile while on the go.
Rating and ranking metrics provide further differentiation. eToro's mobile app scores a commendable 4.5 out of 5 stars, achieving a top-tier rank of 10th among 62 brokers according to ForexBrokers.com. In contrast, IC Markets earns a respectable 4 stars, ranking 22nd. These evaluations reflect eToro's superior functionality and smooth user experience, making it a slightly more attractive option for mobile traders seeking a comprehensive and responsive trading platform in the palm of their hand.
| 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 considering market research options, both eToro and IC Markets deliver daily market commentary to keep traders informed. However, they diverge in their offerings beyond this: eToro provides market analysis from TipRanks and features a sentiment-based trading tool to gauge the ratio of long or short positions across various instruments. It also incorporates research from Trading Central and makes use of economic calendars to display global news events. On the other hand, IC Markets excels with forex news from reputed sources like Bloomberg and Reuters and includes technical analysis support from Autochartist, alongside leveraging Trading Central for in-depth analytics.
Despite IC Markets’ advantage in providing top-tier forex news and a wider array of technical tools, eToro outshines with its unique features, such as TipRanks integrations and sentiment analysis. Consequently, eToro is awarded 4.5 stars and ranks 13th out of 62 brokers in the research category by ForexBrokers.com, reflecting its comprehensive and user-friendly offerings. Meanwhile, IC Markets achieves a respectable 4-star rating but stands at 23rd in the rankings, indicating solid performance but highlighting areas for enhancement.
| 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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