Written by ForexBrokers.com
In this head to head comparison of IC Markets vs FXPrimus, 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.
IC Markets and FXPrimus are both well-established online brokers with IC Markets founded in 2007 and FXPrimus in 2009. Neither of the brokers is publicly traded or operates as a bank. While not listed on a stock exchange, IC Markets holds two Tier-1 licenses, which are considered highly trusted, giving it a ForexBrokers.com Trust Score rating of 84 out of 99. Meanwhile, FXPrimus holds one Tier-1 license, contributing to its Trust Score rating of 71, categorizing it under average risk according to ForexBrokers.com standards. These Trust Scores suggest IC Markets as a more trusted option compared to FXPrimus.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Year Founded | 2007 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing IC Markets to FXPrimus in terms of commissions and fees, IC Markets stands out for its competitive trading costs. IC Markets provides three account types: the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account, with a lower commission than the MetaTrader (MT4 or MT5) account, charges $3.0 per side for every 100,000 units, resulting in a total cost of $6.00 per round turn (RT). The MetaTrader-linked Raw Spread account, on the other hand, demands $3.5 per side or $7.00 per RT. IC Markets offers an average spread of 0.02 pips on the EUR/USD pair, which translates to a total trading cost of 0.62 pips on the cTrader account. This is quite competitive compared to the market standard. Furthermore, active traders who engage in more than 100 standard lots per month are eligible for additional discounts.
IC Markets has been distinguished with a 5-star rating for commissions and fees, achieving a rank of #5 out of 62 brokers on ForexBrokers.com. In contrast, FXPrimus holds a 4-star rating and is ranked #42 among the same group. While specific average spread data for FXPrimus is not available, these rankings indicate a notable difference in trading costs between the two online brokers.
Overall, IC Markets is renowned for its low trading costs, making it a top choice for budget-conscious traders. The combination of various account options and favorable conditions for active traders further enhances its appeal. While FXPrimus offers commendable services with a decent rating, IC Markets clearly edges ahead in terms of cost-effectiveness and flexibility.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| 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 | 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.
IC Markets and FXPrimus both offer forex trading contracts, and on this front, they provide users diverse options for engaging with the forex market. However, when it comes to the number of tradable symbols, IC Markets clearly outshines FXPrimus with over 3,583 symbols compared to FXPrimus's 140. In terms of tradable forex pairs, IC Markets offers 61 pairs, providing a wider array for trading than FXPrimus's 42 pairs.
While neither IC Markets nor FXPrimus provides access to U.S. exchange-traded securities like Apple shares, IC Markets does allow trading of international securities such as Vodafone shares, an option not available with FXPrimus. Both brokers offer cryptocurrency derivatives, despite not allowing the purchase of actual cryptocurrencies. On the capacity for investment copy trading, both platforms deliver this feature to their clients. Reflecting the broader selection of investment opportunities, IC Markets earns a higher rating of 4.5 stars for its range of investments compared to FXPrimus's 3.5-star rating, indicating a more comprehensive offering in the category.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 140 |
| Forex Pairs (Total) | 61 | 42 |
| 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 FXPrimus both offer a variety of trading platforms and tools that accommodate different trader needs. Both brokers provide the popular MetaTrader 4 and MetaTrader 5 platforms, allowing traders access to a wide range of features and tools. While both offer desktop and web-based trading platforms, only FXPrimus offers a proprietary platform developed in-house. Each broker also supports copy trading, though IC Markets extends its offering with ZuluTrade, a feature not available with FXPrimus. Additionally, both IC Markets and FXPrimus allow trading directly from stock charts, offer free virtual demo accounts, and provide 15 charting drawing tools.
Where IC Markets and FXPrimus mostly align in platform functionalities, their rankings and specific offerings highlight some differences. IC Markets edges ahead with a higher ranking by ForexBrokers.com, positioned at #17 compared to FXPrimus at #49 among 62 brokers. Both brokers share a 4-star rating for trading platforms and tools, yet IC Markets offers 7 columns for watch lists, which mirror what’s offered by FXPrimus. For traders prioritizing a wide platform selection and a higher industry ranking, IC Markets may stand as the preferred choice, while FXPrimus attracts those interested in proprietary technology.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| 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 | 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.
Both IC Markets and FXPrimus provide comprehensive mobile trading apps for iPhone and Android users, featuring stock and forex price alerts and the ability to draw trendlines on charts. Users of these apps can view multiple time frames, such as daily, weekly, or intraday. Additionally, both platforms allow for real-time quote watchlists, though they do not support watchlist symbol syncing across devices. Both apps offer 30 technical studies for charting, and they auto-save drawings, ensuring a seamless experience when analyzing market trends.
When rated out of five stars, both IC Markets and FXPrimus earn a solid four stars for their mobile trading apps. However, when ranked by ForexBrokers.com, IC Markets stands out with a higher position, ranking at #22 out of 62 brokers, whereas FXPrimus is placed at #47. This makes IC Markets a slightly more preferred choice for mobile trading enthusiasts, although both platforms deliver a feature-rich app experience that caters to a variety of trading needs.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings, IC Markets and FXPrimus both provide daily market commentary and maintain an economic calendar for tracking global news events. However, IC Markets stands out by delivering forex news from leading sources like Bloomberg and Reuters, while FXPrimus lacks this feature. IC Markets further differentiates itself by offering advanced technical and fundamental analysis tools from industry leaders like Autochartist and Trading Central, along with a sentiment-based trading tool that reports trading ratios across various currency pairs. In contrast, FXPrimus does not provide access to these specialized tools, potentially limiting the depth of their market analysis capabilities.
Both brokers do not offer market research from TipRanks or Acuity Trading's Signal Centre. However, the comprehensive range of tools available at IC Markets earns it a research rating of 4 stars and positions it at the 22nd spot among 62 brokers on ForexBrokers.com for research quality. On the other hand, FXPrimus receives a slightly lower rating of 3 stars and is ranked 58th, reflecting a more basic research offering. This comparison shows that traders who prioritize extensive market research tools may find IC Markets to be a more advantageous choice.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources provided by IC Markets and FXPrimus for beginners, both brokers offer a solid foundation with a variety of learning materials. IC Markets stands out by offering more extensive resources. It offers over ten beginner educational videos that cover trading topics and a comprehensive investor dictionary with definitions of more than 50 investing terms. These resources cater specifically to the needs of newcomers who are looking to understand the basics of trading. In addition, both IC Markets and FXPrimus conduct monthly webinars and provide access to a library of previously recorded sessions, allowing users to learn at their own pace from home.
FXPrimus, on the other hand, offers fewer beginner-specific resources compared to IC Markets. While it does provide a series of educational articles and videos, it lacks the volume of beginner-targeted content that IC Markets offers. The educational content at FXPrimus receives a slightly lower rating, with 3 out of 5 stars compared to IC Markets' 4 stars. Furthermore, IC Markets is ranked significantly higher in the Education category by ForexBrokers.com, coming in at 16th place out of 62 brokers, whereas FXPrimus is ranked 51st. Overall, IC Markets may offer a more comprehensive educational package for those starting their trading journey.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 FXPrimus. IC Markets finished with an overall rank of #20, while FXPrimus finished with an overall rank of #53.
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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FXPrimus
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 71 |
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Both IC Markets and FXPrimus do not provide the option to buy actual cryptocurrencies but do offer trading in cryptocurrency derivatives.
In comparing the online brokers IC Markets and FXPrimus, both lack ACH and SEPA transfer options but offer secure transactions through Skrill, Visa, Mastercard, and bank wires, although IC Markets additionally supports PayPal while FXPrimus does not.
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 | FXPrimus | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | FXPrimus | |
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| Regulation | IC Markets | FXPrimus | |
|---|---|---|---|
| Trust Score | 84 | 71 | |
| Year Founded | 2007 | 2009 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| 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 | IC Markets | FXPrimus | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 140 | |
| Forex Pairs (Total) | 61 | 42 | |
| 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 | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| Minimum Deposit | $200 | $100 | |
| 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 | FXPrimus | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | FXPrimus | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | FXPrimus | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IC Markets | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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