Written by ForexBrokers.com
In this head to head comparison of IC Markets vs FXGT.com, 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.
When it comes to online brokerages, IC Markets and FXGT.com offer distinct options for traders. Founded in 2007, IC Markets is well established and holds two Tier-1 licenses, which are considered highly trusted by ForexBrokers.com. FXGT.com entered the scene more recently in 2019 and possesses one Tier-1 license along with one Tier-2 license, marking a contrast in their regulatory setup. Both brokers are private entities and not banks, emphasizing their specialized focus on trading services.
Trustworthiness is a crucial consideration for traders, and IC Markets scores 84 out of 99 on the ForexBrokers.com Trust Score, categorizing it as a trusted broker. In contrast, FXGT.com receives a score of 69, placing it in the high-risk category. This score indicates a notable difference in perceived reliability and security, with IC Markets offering a more reassuring option for those prioritizing trust.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Year Founded | 2007 | 2019 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
IC Markets stands out as a top choice for traders seeking cost-effective solutions, with a 5-star rating for commissions and fees. Ranked 5th out of 62 brokers, it offers a variety of account options to suit different trading needs. Users can choose between the commission-free Standard account with only spreads, and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account particularly offers slightly lower fees than its MT4 or MT5 counterparts, involving a commission of $3.0 per side for every 100,000 units, resulting in a minimal effective spread. Meanwhile, the MetaTrader accounts charge $3.5 per side, totaling $7.00 per round turn. These competitive spreads make IC Markets an economical choice, especially when considering its additional discounts for active traders.
FXGT.com, on the other hand, has a lower rating of 3.5 stars in the same category, placing it at 55th in the ForexBrokers.com ranking. While specific average spread data for FXGT.com is not available, its lower placement suggests that it may not offer the same cost advantages as IC Markets. This could be a consideration for traders looking to minimize their trading costs.
In summary, IC Markets is a compelling option for traders focused on low-cost trading, offering transparent and minimal spreads alongside competitive commissions. FXGT.com may not match up in this regard, as reflected in its ranking and rating, but may still provide viable options depending on individual trading preferences or requirements beyond just fees.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $200 | $5 |
| 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 | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and FXGT.com both enable traders to engage in forex trading, offering it as CFDs or spot contracts. When comparing their range of investments, IC Markets boasts a much wider selection with 3,583 tradeable symbols and 61 forex pairs, compared to FXGT.com's 117 symbols and 53 forex pairs. While neither broker offers exchange-traded securities on U.S. exchanges, IC Markets provides access to international exchanges, allowing users to buy shares such as Vodafone, a feature not available with FXGT.com. Both platforms support copy trading and offer cryptocurrency derivatives trading, though not the option to buy actual cryptocurrencies directly.
When evaluating the range of investments, IC Markets outshines FXGT.com, earning a 4.5-star rating in this category, whereas FXGT.com receives a 3-star rating. This difference is reflected in their rankings by ForexBrokers.com, where IC Markets takes the 25th spot out of 62 brokers for range of investments, significantly ahead of FXGT.com, which is positioned at 60th. For traders interested in a broad spectrum of trading options and international stock access, IC Markets appears to be the more diversified choice.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 117 |
| Forex Pairs (Total) | 61 | 53 |
| 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.
IC Markets and FXGT.com both offer a comprehensive range of platforms and tools for traders. Both brokers provide a simulated trading experience through free virtual demo accounts, allowing users to hone their skills without financial risk. Neither broker offers a proprietary platform, but both support popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Windows-based desktop platforms and web-based trading options are available from both IC Markets and FXGT.com, which makes them easily accessible to traders navigating different environments. Both brokers also support copy trading, providing an opportunity for users to mimic successful trading strategies.
When it comes to charting tools, IC Markets offers 15 drawing tools, while FXGT.com provides a broader selection with 23 tools. Both allow traders to execute trades directly from stock charts, enhancing the trading experience. IC Markets provides a more detailed watch list with 7 columns compared to FXGT.com's 5 columns. Both brokers received a four-star rating for their trading platforms and tools, although ForexBrokers.com ranks IC Markets higher at 17 out of 62, whereas FXGT.com is ranked 56th. While IC Markets supports ZuluTrade for social trading, it is not available with FXGT.com, which may be a consideration for those interested in social trading platforms.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 15 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IC Markets and FXGT.com offer mobile trading apps for iPhone and Android users. Each app provides crucial features like stock and forex price alerts, the ability to draw trendlines, and multiple time frame views for charts. IC Markets and FXGT.com both allow users to create watchlists with real-time quotes. However, only FXGT.com's app allows seamless syncing of watchlists between a user’s mobile device and their online account, ensuring any changes are updated across platforms.
When it comes to charting, both platforms offer 30 technical studies and auto-save drawing functionalities. While both apps are feature-rich, IC Markets outshines FXGT.com in user reviews and rankings. IC Markets earns a four-star rating for its mobile trading app and ranks #22 out of 62 brokers according to ForexBrokers.com. In contrast, FXGT.com receives a 3.5-star rating and holds the #58 position in the same category. For those prioritizing watchlist syncing and a reliable array of features, FXGT.com might be appealing, whereas IC Markets appears to be the preferred choice for a more highly rated user experience.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 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.
IC Markets shines in the realm of market research, providing daily market commentary along with forex news from top-tier sources like Bloomberg and Reuters. It also equips traders with powerful technical analysis tools from companies like Autochartist and Trading Central, delivering a comprehensive view of market trends and insights. Moreover, the inclusion of a sentiment-based trading tool and an economic calendar broadens the scope for informed trading decisions. With these features, IC Markets earns a solid 4 out of 5 stars for research and is ranked 22nd out of 62 brokers by ForexBrokers.com.
In contrast, FXGT.com has a more limited offering on the market research front. It lacks daily market commentary and does not provide forex news from renowned sources. While it does feature a sentiment-based trading tool and an economic calendar, it falls short in offering advanced analytical tools from Autochartist or Trading Central. Consequently, FXGT.com is rated 3 out of 5 stars for research and ranks 56th in the Research category according to ForexBrokers.com.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| 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.
When comparing the educational offerings of IC Markets and FXGT.com, IC Markets clearly stands out as a more comprehensive resource for beginners. IC Markets provides a wealth of educational materials, including over ten articles and videos focusing on forex and CFDs, as well as monthly client webinars and a searchable archive of past webinars. They have a robust library of videos targeting both beginners and more advanced traders. IC Markets also features an investor dictionary with over 50 key trading terms. Rated with four out of five stars for education, IC Markets holds the 16th position in ForexBrokers.com's ranking among 62 brokers, illustrating its strong commitment to trader education.
In comparison, FXGT.com falls short in educational resources tailored for those new to trading. While FXGT.com does offer an investor dictionary similar to IC Markets, it lacks the breadth of educational content that IC Markets provides. Specifically, FXGT.com does not reach the minimum threshold of ten educational pieces focused on forex and CFDs, nor does it offer webinars or maintain a recorded archive for easy learner access. Additionally, FXGT.com is rated with three stars in the education category and ranks 59th by ForexBrokers.com, indicating there is ample room for improvement in its educational support for traders.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| 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 FXGT.com. IC Markets finished with an overall rank of #20, while FXGT.com finished with an overall rank of #58.
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
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FXGT.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 69 |
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Both IC Markets and FXGT.com do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
When comparing the financial transaction options of online brokers IC Markets and FXGT.com, IC Markets supports PayPal and Skrill for deposits and withdrawals but does not offer ACH or SEPA transfers, while FXGT.com includes ACH and SEPA transfers but lacks PayPal and Skrill options; both brokers accept Visa, Mastercard, and bank wire transactions.
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 | FXGT.com | |
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| Trust Score | 84 | 69 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | FXGT.com | |
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| Regulation | IC Markets | FXGT.com | |
|---|---|---|---|
| Trust Score | 84 | 69 | |
| Year Founded | 2007 | 2019 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | FXGT.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | 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) | IC Markets | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 117 | |
| Forex Pairs (Total) | 61 | 53 | |
| 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 | FXGT.com | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $200 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | FXGT.com | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 5 | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 15 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | FXGT.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 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 | IC Markets | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | FXGT.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | FXGT.com | |
|---|---|---|---|
| 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 | FXGT.com | |
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| Trust Score | 84 | 69 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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