Written by ForexBrokers.com
In this head to head comparison of IC Markets vs RoboForex, 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 RoboForex are two online brokers that attract attention due to their regulatory frameworks and trust ratings. Founded in 2007, IC Markets holds two Tier-1 licenses, which are highly regarded, and carries a Trust Score of 84. Although IC Markets isn't publicly traded or a bank, its licensing bolsters user confidence. In comparison, RoboForex, established in 2009, holds one Tier-1 license and has a Trust Score of 73. Like IC Markets, RoboForex is neither publicly traded nor operates as a bank.
The difference in their Trust Scores indicates that IC Markets falls into the "trusted" category, while RoboForex resides in the "average risk" bracket, according to ForexBrokers.com. Therefore, when evaluating these brokers, potential users may consider IC Markets as moderately more secure based on its higher Trust Score and additional Tier-1 licensing.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 | 2 |
When it comes to commission and fee structures, IC Markets stands out as a cost-effective option, rivaling top-tier competitors like IG and CMC Markets. With its low deposit requirement and competitive spreads, it has earned a "Best in Class" accolade for Commissions & Fees in the 2024 Annual Awards. IC Markets offers three account types: the Standard account, which is commission-free, and the Raw Spread and cTrader Raw Spread accounts, both of which have low commissions. The cTrader account features a slightly lower commission rate than its MetaTrader counterparts, making it appealing for users seeking minimal trading costs. With an effective spread as low as 0.62 pips on the EUR/USD pair, IC Markets is highly competitive in the forex trading arena.
On the other hand, RoboForex's cost structure is only moderately competitive, with average spreads of 1.3 pips for EUR/USD on its Procent and Pro accounts. While the broker offers a broad suite of trading options and tools, its higher spreads may deter cost-sensitive traders. RoboForex's commissions and fees receive a rating of 3.5 stars, placing it at #54 out of 62 brokers according to ForexBrokers.com rankings. This indicates a less favorable standing compared to IC Markets.
In summary, IC Markets proves to be an excellent choice for traders focusing on minimizing costs, with a 5-star rating in the Commissions and Fees category and a top-5 ranking among 62 brokers. In contrast, RoboForex, with a 3.5-star rating and #54 ranking, presents a less cost-efficient option. As traders compare these two brokers, considerations of cost efficiency and overall value become crucial in choosing the right platform for their trading needs.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Average Spread EUR/USD - Standard | 0.62 | 1.3 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 contemplating the range of investments offered by IC Markets and RoboForex, both online brokers provide an engaging variety for traders. IC Markets shines with its offer of 61 tradeable forex pairs and a total of 3,583 symbols. It extends its portfolio by allowing investments in international exchange-traded securities, offering an appealing choice for those interested in stocks from global markets. Furthermore, for cryptocurrency enthusiasts, IC Markets provides avenues for trading cryptocurrency derivatives, though it does not support purchasing actual cryptocurrencies.
RoboForex, on the other hand, boasts an impressive 8,400 tradeable symbols, remarkably higher than its counterpart, although it offers fewer tradeable forex pairs at 28. Unlike IC Markets, RoboForex does not facilitate exchange-traded securities on international markets, focusing its strengths elsewhere. It matches IC Markets in offering cryptocurrency derivatives yet similarly does not support the acquisition of actual cryptocurrencies. Both platforms facilitate copy trading, a feature that enhances their accessibility for new traders. According to ForexBrokers.com, RoboForex is ranked slightly higher than IC Markets, coming in at number 20 for its range of investments compared to IC Markets' 25th ranking. However, both platforms score equally with 4.5-star ratings, highlighting their respective strengths.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 8400 |
| Forex Pairs (Total) | 61 | 28 |
| 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.
Both IC Markets and RoboForex cater to traders with virtual demo accounts, allowing newcomers and experienced traders alike to experiment without financial risk. Neither broker boasts a proprietary platform, but they excel with versatile options like MetaTrader 4 and MetaTrader 5 available across desktop and web interfaces. Windows users are covered, as both provide platforms for this operating system along with web-based access, enhancing convenience and flexibility. For those interested in copy trading, both brokers offer this feature; however, only IC Markets supports ZuluTrade. Simplifying the trading process, traders can execute directly from stock charts regardless of the chosen broker.
Chart analysis is a breeze with both IC Markets and RoboForex offering 15 drawing tools, enhancing precision for all charting needs. Watchlist management is straightforward, with seven columns available to customize views, providing insights tailored to individual preferences. Both IC Markets and RoboForex achieve a commendable 4-star rating for Trading Platforms and Tools. Despite this shared rating, IC Markets takes a higher rank at 17th among 62 brokers according to ForexBrokers.com, with RoboForex positioned at 43rd. This highlights a slight edge for IC Markets in trader preference and platform utility.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 | 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.
IC Markets and RoboForex both offer comprehensive mobile trading apps compatible with iPhone and Android devices, providing users with a convenient way to trade on the go. Both apps support stock and forex price alerts and allow users to create watchlists with real-time quotes, though they do not offer watchlist symbol syncing. Each platform offers 30 technical studies in their charting tools, the ability to draw trendlines, display multiple time frames, and auto-save chart drawings. These features are essential for traders seeking versatile charting tools and real-time market insights.
Despite their similarities, the platforms differ in their rankings by ForexBrokers.com. IC Markets is ranked #22 among 62 brokers in the Mobile Trading Apps category, whereas RoboForex holds the #43 position. Both apps receive a 4-star rating, indicating high levels of user satisfaction. While both trading apps offer a wealth of features for mobile traders, IC Markets seems to have a slight edge in its market ranking, which could influence users seeking a well-regarded trading experience on mobile devices.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 between IC Markets and RoboForex, both brokers provide daily market commentary and access to Forex news from major sources like Bloomberg and Reuters. IC Markets and RoboForex each integrate Trading Central tools for technical analysis, enhancing their platforms' analytical capabilities. However, IC Markets stands out by offering Autochartist tools and sentiment-based trading insights, which RoboForex does not provide. On the other hand, RoboForex includes research tools from Acuity Trading, unlike IC Markets.
Both brokers maintain an economic calendar for tracking global news events. In terms of overall research effectiveness, IC Markets receives a slightly higher rating of 4 stars compared to RoboForex's 3.5 stars. According to ForexBrokers.com rankings, IC Markets is placed at #22, a more favorable position compared to RoboForex's #37 out of 62 brokers. These distinctions suggest that while both brokers provide strong research resources, IC Markets may offer a more comprehensive analysis suite for traders seeking depth in their market research tools.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing IC Markets and RoboForex for educational resources aimed at beginners, IC Markets stands out with a comprehensive range of materials. IC Markets provides more than 10 educational pieces focused on forex and CFDs, offering a wealth of articles, videos, and archived webinars. They also host monthly educational webinars and maintain a searchable archive for those who want to revisit past sessions. Beginners can benefit from over 10 tailored educational videos, while advanced traders aren't left behind, with a similar number of advanced videos available. Additionally, IC Markets offers a detailed investor dictionary, defining over 50 trading terms to help novice investors get up to speed.
On the other hand, RoboForex offers less extensive educational resources. They do not meet the minimum requirement of 10 educational pieces on forex or CFDs and lack monthly educational webinars, along with a searchable webinar archive. Similarly, their video content for beginner and advanced traders falls short of IC Markets' offerings, as does their investor dictionary. IC Markets' educational resources are rated at four stars compared to RoboForex's 3.5 stars. According to ForexBrokers.com, IC Markets ranks #16 in education among 62 brokers, significantly higher than RoboForex, which is placed at #56.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 | 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 RoboForex. IC Markets finished with an overall rank of #20, while RoboForex finished with an overall rank of #46.
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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RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 73 |
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Both IC Markets and RoboForex do not offer the option to purchase actual delivered cryptocurrency, but both provide the ability to trade cryptocurrency derivatives.
IC Markets and RoboForex both support multiple funding and withdrawal methods, including PayPal, Skrill, Visa or Mastercard, and bank wires, but only RoboForex provides the option for ACH or SEPA transfers for account 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 | RoboForex | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | RoboForex Review |
| Broker Screenshots | IC Markets | RoboForex | |
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| Regulation | IC Markets | RoboForex | |
|---|---|---|---|
| Trust Score | 84 | 73 | |
| 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 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 8400 | |
| Forex Pairs (Total) | 61 | 28 | |
| 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 | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | RoboForex | |
|---|---|---|---|
| Minimum Deposit | $200 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | IC Markets | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
| Overall | IC Markets | RoboForex | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | RoboForex Review |
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