Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers and IC Markets are notable online brokers that offer a variety of trading services, but they differ significantly in their regulatory standings and trust scores as rated by ForexBrokers.com. Interactive Brokers, established in 1977, holds a stellar reputation with a perfect Trust Score of 99. It boasts an impressive nine Tier-1 licenses, which are considered highly trusted. Additionally, Interactive Brokers is publicly traded, adding an extra layer of transparency and accountability, although it is not itself a bank.
In contrast, IC Markets, founded in 2007, is not publicly traded and maintains a Trust Score of 84, which is considered trusted. This broker has secured two Tier-1 licenses, ensuring a reasonable degree of trust but fewer high-level regulatory endorsements compared to Interactive Brokers. IC Markets does not have any Tier-2 licenses, which adds depth to the comparison, showing variations in their regulatory commitments. Both brokers, however, do not operate as banks.
| Feature |
Interactive Brokers
|
IC Markets
|
|---|---|---|
| Year Founded | 1977 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Interactive Brokers and IC Markets are both highly rated for their competitive commission and fee structures. Interactive Brokers, awarded a 5-star rating, stands out as the second-best broker out of 62 in the Commissions and Fees category. Although precise comparisons are challenging due to undisclosed average spreads, Interactive Brokers charged an effective all-in spread of 0.59 pips for the EUR/USD in Q3 2024. Commissions per side start at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order. These rates could drop significantly for highly active traders, making Interactive Brokers a strong choice for serious forex enthusiasts.
IC Markets is equally impressive, also achieving a 5-star rating and ranking fifth among 62 brokers for Commissions and Fees. Known for its competitive pricing and low deposit requirements, IC Markets offers three types of accounts: a commission-free Standard account and two commission-based accounts, Raw Spread and cTrader Raw Spread. For the cTrader account, the all-in cost for the EUR/USD is approximately 0.62 pips, marginally better than the MetaTrader account, which stands at 0.72 pips. Offering discounts for traders exceeding 100 standard lots monthly, IC Markets is well-suited for both casual and active traders seeking low-cost, effective trading options.
Both brokers offer unique advantages, particularly for active traders. Interactive Brokers appeals with its volume-based discounts on commissions, while IC Markets captivates with its slim spreads and flexibility among platforms and account types. Each offers a formidable platform for traders prioritizing cost-efficiency without sacrificing quality. Whether you prefer Interactive Brokers’ extensive interbank connections or IC Markets’ balanced account offerings, both are robust contenders in the world of forex trading.
| Feature |
Interactive Brokers
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Average Spread EUR/USD - Standard | 0.59 | 0.62 |
| All-in Cost EUR/USD - Active | 0.59 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and IC Markets both offer forex trading through CFDs or spot contracts, providing investors with flexible options in the forex market. When it comes to the sheer number of tradeable symbols, Interactive Brokers stands out with 8,500, significantly more than IC Markets' offering of 3,583 symbols. For forex aficionados, Interactive Brokers also boasts a larger selection with 90 forex pairs compared to IC Markets' 61. Furthermore, Interactive Brokers extends its prowess by allowing clients to invest in exchange-traded securities on U.S. exchanges, offering the opportunity to purchase shares like Apple directly, a feature not available with IC Markets. However, both brokers allow investments in international exchange-traded securities, giving users access to shares like Vodafone on the London Stock Exchange.
In the realm of cryptocurrency, Interactive Brokers provides an edge with the ability for clients to purchase actual cryptocurrency, something IC Markets does not offer, as it focuses on cryptocurrency derivatives instead. For those interested in copy trading, IC Markets offers capabilities in this area, unlike Interactive Brokers. With a top rating of 5 stars for its range of investments and holding the #1 ranking on ForexBrokers.com for this category, Interactive Brokers is highly commended for its extensive offerings. IC Markets, while slightly behind with a 4.5-star rating and a #25 ranking, still offers a commendable range of investment options and stands as a solid choice for investors looking for a comprehensive trading platform.
| Feature |
Interactive Brokers
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 3583 |
| Forex Pairs (Total) | 90 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | 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 the trading platforms and tools of Interactive Brokers and IC Markets, several key differences emerge. Interactive Brokers offers a proprietary platform, developed in-house, while IC Markets does not. Both brokers provide a Windows-based desktop platform and a web-based trading platform, but Interactive Brokers shines with its extensive set of drawing tools—offering 85 compared to IC Markets' 15. Additionally, Interactive Brokers provides a more customizable experience with 659 watch list fields, significantly surpassing IC Markets' 7. Both brokers offer free virtual demo accounts, but Interactive Brokers lacks the copy trading features available with IC Markets, such as ZuluTrade support and access to the popular MetaTrader platforms.
IC Markets may appeal to those who benefit from copy trading opportunities, thanks to its support of platforms like MetaTrader 4, MetaTrader 5, and ZuluTrade. However, for traders interested in a comprehensive suite of analytical tools and customization options, Interactive Brokers stands out. Its platform has received a 5-star rating in trading tools against IC Markets' 4 stars, and it ranks 3rd among 62 brokers for trading platforms and tools according to ForexBrokers.com, while IC Markets ranks at 17th place. Both brokers allow direct trading from stock charts, but for anyone seeking a refined and more advanced platform with numerous customization possibilities, Interactive Brokers offers a superior choice.
| Feature |
Interactive Brokers
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When deciding between Interactive Brokers and IC Markets for mobile trading, both brokers provide apps for iPhone and Android users, ensuring accessibility no matter your device. They both offer key functionalities like price alerts and features for creating watchlists with real-time quotes. However, Interactive Brokers takes the lead with the ability to sync watchlists between its mobile app and online account, a feature IC Markets lacks. Charting options are also more advanced with Interactive Brokers, offering 97 technical studies compared to IC Markets' 30, allowing for more in-depth analysis.
Both platforms support viewing multiple time frames and drawing trendlines, but IC Markets has the advantage of auto-saving chart drawings, unlike Interactive Brokers. Despite this, Interactive Brokers receives a full 5-star rating from users for its mobile trading app, ranking #4 out of 62 brokers on ForexBrokers.com, while IC Markets holds a 4-star rating and ranks #22. These distinctions highlight Interactive Brokers as a superior choice for those seeking more comprehensive mobile trading tools and a higher user satisfaction rating.
| Feature |
Interactive Brokers
|
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 | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | 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 it comes to market research features, both Interactive Brokers and IC Markets offer daily market commentary and provide forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. While both brokers include tools from Trading Central and sentiment-based trading tools that display the ratio of long or short positions across various instruments, a key differentiator is the access to specialized research tools. Interactive Brokers provides research from TipRanks and Acuity Trading’s Signal Centre, which are not available with IC Markets. Additionally, both platforms feature an economic calendar with global news events.
Interactive Brokers excels in its array of market research tools, earning it a top-notch 5-star rating in this area, compared to IC Markets' 4-star rating. This is further reflected in their rankings by ForexBrokers.com, where Interactive Brokers stands impressively at #3 out of 62 brokers in the Research category, while IC Markets finds itself at #22. These differences underscore the comprehensive suite of resources that Interactive Brokers offers to traders looking for in-depth market insights.
| Feature |
Interactive Brokers
|
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 | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Interactive Brokers and IC Markets offer comprehensive materials for those diving into forex and CFD trading. Each platform provides an ample selection of over 10 educational pieces, including articles and videos, alongside regular online webinars. Both brokers also maintain a searchable archive of recorded webinars, allowing users to access past sessions and enhance their learning at their convenience. Furthermore, both Interactive Brokers and IC Markets cater to beginners with more than 10 educational videos specifically aimed at novice traders. Additionally, they provide a substantial investor dictionary that explains over 50 essential investing terms, making it easier for users to get up to speed with industry jargon.
Despite their similar offerings, Interactive Brokers stands out with a top-notch rating of 5 stars for educational resources compared to IC Markets' 4-star rating. This higher rating reflects Interactive Brokers' stronger emphasis on education and its consistency in delivering quality content to traders. Ranked #3 by ForexBrokers.com in the education category among 62 brokers, Interactive Brokers is notably ahead of IC Markets, which holds the #16 spot. For beginners keen on making informed trading decisions, this distinction underscores Interactive Brokers as a leader in providing valuable educational content.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than IC Markets. Interactive Brokers finished with an overall rank of #2, while IC Markets finished with an overall rank of #20.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Interactive Brokers allows the purchase of actual cryptocurrency and cryptocurrency derivatives, while IC Markets offers access only to cryptocurrency derivatives, not actual cryptocurrency.
When comparing funding and withdrawal options, Interactive Brokers supports ACH/SEPA transfers and bank wires but does not facilitate transactions through PayPal, Skrill, or Visa/Mastercard, whereas IC Markets offers a broader range including PayPal, Skrill, Visa/Mastercard, and bank wires, but lacks ACH/SEPA 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 | Interactive Brokers | IC Markets | |
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| Trust Score | 99 | 84 | |
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| Review | Interactive Brokers Review | IC Markets Review |
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| Regulation | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1977 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | 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) | Interactive Brokers | 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) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 3583 | |
| Forex Pairs (Total) | 90 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | 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 | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $200 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | IC Markets Review |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | IC Markets Review |
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