Written by ForexBrokers.com
In this head to head comparison of IC Markets vs IronFX, 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 IronFX are both well-established online brokers, with IC Markets founded in 2007 and IronFX in 2010. Neither broker is publicly traded nor operates as a bank. When it comes to regulatory licenses, IC Markets holds two Tier-1 licenses, which ForexBrokers.com considers highly trusted. IronFX, on the other hand, holds three Tier-1 licenses, indicating a similar level of trust according to the same rating service.
The Trust Score rating by ForexBrokers.com gives IC Markets a score of 84 out of 99, classifying it as a trusted broker. IronFX has a slightly lower score of 83 but still falls within the trusted category. Both brokers lack Tier-2 licenses, which highlights their focus on maintaining the highest level of regulatory oversight available. These ratings serve as a useful guide for investors seeking reliable trading partners in the online brokerage space.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When considering commissions and fees, IC Markets stands out as a top choice, receiving a 5-star rating and clinching the 5th spot among 62 brokers for the Commissions and Fees category according to ForexBrokers.com. IC Markets offers competitive trading costs, particularly attractive for those opting for their commission-based accounts like the Raw Spread and cTrader Raw Spread. The cTrader Raw Spread account features a lower commission of $3.00 per side for every 100,000 units, while MetaTrader accounts incur a slightly higher charge of $3.50 per side. The effective spread on the popular EUR/USD pair is quite appealing at 0.62 pips with cTrader and 0.72 with MetaTrader, making IC Markets a competitive option for traders seeking cost-effective solutions.
On the other hand, IronFX, with its 4-star rating and ranking of 47th out of 62 brokers, has room for improvement in terms of pricing. The typical spread for their Standard account is relatively higher at 1.8 pips, lacking the sharp competitiveness seen in IC Markets. The zero fixed-spread account, which might start at zero spread, entails a high commission of $18 per lot, alongside widened spreads of 3 pips overnight. These factors combined render IronFX a less economical option in the context of fees and commissions.
In summary, IC Markets emerges as the more favorable broker for traders who prioritize low trading costs, thanks to its minimal effective spreads and modest commission charges. In contrast, IronFX's higher spreads and commissions somewhat diminish its appeal, especially for those mindful of trading expenses.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Minimum Deposit | $200 | $50 |
| Average Spread EUR/USD - Standard | 0.62 | 1.2 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| 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.
When comparing IC Markets and IronFX for their range of available investments, both platforms offer forex trading as a CFD or spot contract. IC Markets presents a broader variety with 3,583 tradeable symbols, significantly more than IronFX’s 340 symbols. In terms of forex pairs, IronFX provides 83 pairs, exceeding IC Markets’ offering of 61 pairs. Neither broker supports direct investment in U.S. exchange-traded securities, like Apple shares. However, IC Markets does allow investment in international exchange-traded securities, such as Vodafone shares, a feature IronFX lacks.
Both brokers support copy trading and offer cryptocurrency derivatives instead of actual cryptocurrency purchases. In terms of ratings, IC Markets excites with a 4.5-star score for Range of Investments, ranked 25th out of 62 brokers by ForexBrokers.com. IronFX trails behind with a 3.5-star rating and a 51st ranking in the same category. Overall, IC Markets offers a more diverse investment range, making it a preferred choice for those looking for a wider variety of trading opportunities.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 340 |
| Forex Pairs (Total) | 61 | 83 |
| 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.
When comparing IC Markets and IronFX, both brokers offer simulated trading through free virtual demo accounts, allowing users to practice without financial risk. Neither has developed a proprietary platform, yet they both offer Windows-based desktop and web-based platforms, ensuring flexibility and accessibility for users. Both support MetaTrader 4 (MT4), while IC Markets also supports MetaTrader 5 (MT5), offering more advanced tools to traders. In terms of social trading, both brokers provide copy trading, but IC Markets further distinguishes itself by offering ZuluTrade while IronFX does not.
Charting tools from both brokers include 15 drawing tools and the ability to trade directly from a stock chart, a feature beneficial for active traders. When it comes to organizing information, each provides seven fields for watch lists. In terms of ratings, IC Markets scores an impressive four stars for trading platforms and tools, ranking 16th out of 62 brokers by ForexBrokers.com. Meanwhile, IronFX receives a rating of 3.5 stars, placing it lower in the same category at 60th. This comparison highlights IC Markets as the more favored option for comprehensive trading tools and platform variety.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| 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 | No |
| 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.
When diving into the world of mobile trading apps, both IC Markets and IronFX deliver essential features that accommodate traders on the go. Both brokers provide iPhone and Android apps, ensuring accessibility across these popular platforms. Traders can set up stock and forex price alerts within both apps, keeping them informed about market movements. A notable similarity is the charting capabilities; each app offers 30 technical studies and allows users to draw trendlines and view different time frames, whether intraday, daily, or weekly. Importantly, the apps automatically save these chart drawings, maintaining consistency in user analysis.
However, some differences become apparent when comparing user ratings and rankings. IC Markets edges ahead with a higher mobile app rating of 4 stars, compared to IronFX's 3.5 stars. Additionally, IC Markets ranks 22nd out of 62 brokers in the mobile trading apps category, a significant lead over IronFX, which stands at 61st place. Neither app currently supports watchlist symbol syncing between mobile and online accounts, but both allow the creation of real-time quote watchlists. These differences highlight IC Markets as the more favored choice for mobile trading enthusiasts.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| 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.
Both IC Markets and IronFX provide a comprehensive array of tools and resources to assist traders with their market research needs. Each broker delivers daily market commentary and sources forex news from leading outlets such as Bloomberg and Reuters. While both platforms offer tools from Trading Central for technical analytics, only IC Markets includes additional resources from Autochartist, which gives it an edge for traders who prioritize detailed technical analysis tools.
Regarding sentiment analysis, IC Markets again has an advantage by offering a tool that displays the ratio of long and short positions across different instruments, whereas IronFX lacks this feature. Both brokers provide economic calendars to help track global events, rounding out their research offerings. Despite these differences, both brokers receive a four-star rating for research quality, with IC Markets securing a slightly higher ranking than IronFX at 23rd versus 28th among 62 brokers evaluated by ForexBrokers.com.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| 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 offered by IC Markets and IronFX for beginners, both online brokers provide at least ten educational pieces on forex or CFDs, such as articles, videos, and archived webinars. However, IC Markets takes a step further by offering live educational webinars monthly, whereas IronFX does not. In terms of accessibility to past webinars, both platforms allow users to search through their archives, which can be beneficial for those who prefer self-paced learning. Additionally, both brokers cater to newcomers with at least ten beginner-focused videos exploring trading topics.
While both IC Markets and IronFX offer investor dictionaries with over 50 investing term definitions to aid beginners, IC Markets sets itself apart with more advanced content. IC Markets provides at least ten advanced educational videos aimed at experienced traders, a feature that IronFX lacks. This comprehensive approach has earned IC Markets a higher ranking for education among 62 brokers surveyed by ForexBrokers.com, coming in at 16th place compared to IronFX’s 44th. Despite these differences, both brokers are awarded a strong four-star rating for their educational offerings.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| 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 IronFX. IC Markets finished with an overall rank of #20, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 83 |
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Both IC Markets and IronFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
When comparing online brokers IC Markets and IronFX, neither offers ACH or SEPA transfers for account funding, but IC Markets supports PayPal whereas IronFX does not; both brokers accept Visa, Mastercard, Skrill, and bank wire transfers for depositing and withdrawing funds.
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 | IronFX | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | IronFX | |
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| Regulation | IC Markets | IronFX | |
|---|---|---|---|
| Trust Score | 84 | 83 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | IronFX | |
|---|---|---|---|
| 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) | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 340 | |
| Forex Pairs (Total) | 61 | 83 | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $200 | $50 | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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