Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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.
FOREX.com, established in 1999, and IC Markets, founded in 2007, are two prominent online brokers catering to traders worldwide. When examining trustworthiness, FOREX.com shines with a perfect Trust Score of 99 out of 99 by ForexBrokers.com, indicating it's highly reliable. In comparison, IC Markets holds a commendable Trust Score of 84, marking it as a trusted broker as well. Notably, FOREX.com is publicly traded, while IC Markets remains privately owned, and neither operates as a bank.
In terms of regulatory credibility, FOREX.com possesses an impressive seven Tier-1 licenses and one Tier-2 license, which underscores its reliable standing in the financial market. Meanwhile, IC Markets holds two Tier-1 licenses but lacks Tier-2 licensing, reflecting a solid yet less comprehensive regulatory standing compared to FOREX.com. These distinctions highlight key differences in regulatory oversight and trust factor between the two brokers.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Year Founded | 1999 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing the commissions and fees of FOREX.com and IC Markets, FOREX.com provides a variety of execution methods and account types, catering primarily to those outside the U.S. through its low-spread Raw account, despite being somewhat costly compared to industry averages. FOREX.com's standard account, the only option for MetaTrader clients in the U.S., has higher average spreads of 1.4 pips on the EUR/USD. The new RAW Spread account offers more competitive spreads around 0.13 pips, with a $7 base commission per 100,000 unit trade, and provides rebates for high-volume traders. FOREX.com holds a commendable 4.5-star rating and ranks 13th out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
Conversely, IC Markets is renowned for its low trading costs, earning a 5-star rating and ranking 5th in the same category. With commission-free and commission-based account options, IC Markets showcases competitive pricing. The Standard account offers an average spread of 0.62 pips without commission, while the Raw Spread accounts feature effective spreads of 0.62 to 0.72 pips after including commission costs. Notably, their cTrader account provides a slight edge in pricing at $6.00 per round turn compared to $7.00 with MetaTrader platforms. This broker's range includes entities in Europe, Australia, and Seychelles, catering to different regulatory preferences.
Overall, while FOREX.com supports traders with varying requirements through its multiple accounts, IC Markets is particularly favorable for those seeking minimal trading expenses. IC Markets' attractive pricing strategy, low deposit requirements, and favorable conditions for active traders strengthen its appeal as a top choice among low-cost forex brokers.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $100 | $200 |
| Average Spread EUR/USD - Standard | 1.4 | 0.62 |
| All-in Cost EUR/USD - Active | 0.9 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the variety of investments offered by online brokers, both FOREX.com and IC Markets provide a range of options to cater to different trading preferences. FOREX.com stands out with its extensive selection of 5,500 tradeable symbols, including 91 forex pairs available as CFDs or spot contracts. This expansive offering contributes to its strong ranking of #7 in the Range of Investments category by ForexBrokers.com. While FOREX.com does not offer exchange-traded securities on U.S. or international exchanges, it does provide the ability to trade cryptocurrency derivatives, affirming its comprehensive yet specialized focus on forex and related markets.
IC Markets, with 3,583 tradeable symbols and access to 61 forex pairs as CFDs or spot contracts, also presents a competitive selection for traders. Notably, IC Markets broadens its investment range by allowing clients to trade exchange-traded securities on international exchanges, which ForeX.com does not offer. Additionally, IC Markets supports copy trading, a feature that attracts less hands-on investors. Despite these benefits, IC Markets is rated slightly lower with 4.5 stars for Range of Investments and is ranked #25 by ForexBrokers.com. Both brokers cater to a broad range of trading strategies, but FOREX.com holds a slight edge in the variety of forex options.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 3583 |
| Forex Pairs (Total) | 91 | 61 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | No | 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 it comes to trading platforms and tools, FOREX.com and IC Markets both offer a variety of features for traders of all levels, but there are notable differences between the two. FOREX.com provides a proprietary platform, developed in-house, alongside widespread platforms like MetaTrader 4 and MetaTrader 5. This is unlike IC Markets, which doesn’t have its own exclusive platform, though it also supports MT4 and MT5. Both brokers offer Windows-based desktop and web-based trading platforms, and they grant access to free virtual demo accounts. However, FOREX.com shines with its extensive 239 drawing tools for charting and 20 watchlist fields, compared to IC Markets, which offers 15 tools and 7 fields. These features contribute to FOREX.com’s more favorable rating of 5 stars, whereas IC Markets holds 4 stars in this domain.
IC Markets stands out in areas where FOREX.com does not provide options, such as copy trading and integration with ZuluTrade, which might appeal to clients interested in social trading features. Both platforms enable trading directly from stock charts, offering streamlined trading experiences. When considering their rankings by ForexBrokers.com for Trading Platforms and Tools, FOREX.com is positioned at #7, indicating a stronger performance compared to IC Markets, which is ranked at #16. These distinctions highlight the strengths and unique offerings of each broker, enabling traders to choose based on their personal preferences and trading style.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FOREX.com and IC Markets offer convenient mobile apps for iPhone and Android, enabling traders to stay connected on the go. Users of both platforms can set up price alerts for stocks and forex, ensuring they don't miss key market movements. While both apps support trendline drawing and multiple time frame views on charts, FOREX.com's app goes a step further by offering a higher number of technical studies—88 compared to IC Markets' 30. The app also automatically saves chart drawings, providing a consistent and uninterrupted trading experience.
A distinguishing feature of FOREX.com's app is the ability to sync watchlists with the client's online account, allowing seamless updates between devices, a feature IC Markets lacks. Both apps allow users to create watchlists with real-time quotes, offering a personalized trading setup. FOREX.com's mobile app is particularly well-received, earning a 5-star rating and holding the 3rd spot out of 62 brokers in ForexBrokers.com's ranking for mobile trading apps, whereas IC Markets holds a 4-star rating and ranks 22nd. These differences highlight FOREX.com's edge in delivering a comprehensive and user-friendly mobile trading experience.
| Feature |
FOREX.com
|
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 | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When examining market research offerings, both FOREX.com and IC Markets provide traders with valuable insights. Both platforms deliver daily market commentary and supply forex news from high-level sources like Bloomberg, Reuters, and Dow Jones. However, IC Markets takes an edge by offering tools from Autochartist, which can be a significant advantage for traders seeking detailed technical analysis or fundamental research functionalities. Both brokers incorporate Trading Central tools and offer sentiment analysis tools, assisting traders in understanding market trends.
Despite a similar economic calendar outlining key global events, FOREX.com nudges ahead in expert rankings with a research rating of 4.5 stars, compared to IC Markets’ 4 stars. This higher rating is reflected in FOREX.com's position as the 9th ranked broker for research on ForexBrokers.com, whereas IC Markets is positioned at 23rd out of 62 brokers. While neither broker provides market research from TipRanks or Acuity Trading, FOREX.com's slightly higher ranking may appeal to traders looking for a well-regarded research experience.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| 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.
When it comes to educational resources, both FOREX.com and IC Markets provide a strong foundation for beginners looking to deepen their understanding of forex or CFDs trading. Each broker offers more than ten educational pieces, which can include articles, videos, and archived webinars focusing on essential trading topics. Beginners can also benefit from monthly online webinars, helping them gain insights from live discussions. Furthermore, each platform features a searchable archive of past webinars, offering easy access to valuable educational content on demand. Both brokers ensure that beginners have access to at least ten targeted videos to help them get started in trading.
Beyond catering to beginners, FOREX.com and IC Markets also prioritize advanced learning, each offering over ten videos tailored for experienced traders. To support learning, both platforms supply an investor dictionary packed with more than 50 terms. When comparing user ratings, FOREX.com holds a slight edge with a 4.5-star rating for their educational offerings, while IC Markets follows closely with 4 stars. According to ForexBrokers.com, FOREX.com is recognized as a top performer, ranking 4th out of 62 brokers for their educational resources, while IC Markets ranks 16th, highlighting a commendable yet slightly less acclaimed educational experience.
| Feature |
FOREX.com
|
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 FOREX.com is better than IC Markets. FOREX.com finished with an overall rank of #5, while IC Markets finished with an overall rank of #20.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
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IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Both FOREX.com and IC Markets do not offer the ability to buy actual (delivered) cryptocurrency, but they both provide options to purchase cryptocurrency derivatives instead.
Compare the deposit and withdrawal options at online brokers FOREX.com and IC Markets: FOREX.com supports ACH, SEPA, PayPal, Visa/Mastercard, and bank wires, but not Skrill, while IC Markets offers PayPal, Visa/Mastercard, Skrill, and bank wires, but lacks ACH and SEPA options.
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 | FOREX.com | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | IC Markets Review |
| Broker Screenshots | FOREX.com | IC Markets | |
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| Regulation | FOREX.com | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1999 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FOREX.com | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FOREX.com | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 3583 | |
| Forex Pairs (Total) | 91 | 61 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | No | 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 | FOREX.com | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $100 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FOREX.com | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | FOREX.com | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FOREX.com | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | 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 | FOREX.com | 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 | FOREX.com Review | IC Markets Review |
| Overall | FOREX.com | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | IC Markets Review |
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