Written by ForexBrokers.com
In this head to head comparison of Swissquote 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.
Swissquote and IC Markets are two well-known online brokers offering trading services with different levels of trust and regulatory credentials. Established in 1996, Swissquote is a long-standing broker with a commendable reputation. It is publicly traded and also operates as a bank, adding to its credibility. Swissquote holds an impressive 99 Trust Score from ForexBrokers.com, reflecting its solid position in the industry. This high rating is supported by its five Tier-1 licenses, considered the gold standard for broker regulation. Additionally, Swissquote holds one Tier-2 license, emphasizing its secure and reliable nature.
On the other hand, IC Markets, founded in 2007, provides a trusted yet slightly less robust alternative. Not being publicly traded and not operating as a bank distinguishes it from Swissquote. Though it has a respectable Trust Score of 84 according to ForexBrokers.com, it is somewhat lower than Swissquote's rating but still places IC Markets within the 'trusted' category. IC Markets holds two Tier-1 licenses, showing its dedication to maintaining trust, though it lacks any Tier-2 licenses. Despite differences in regulatory standing and additional credentials, both platforms continue to serve traders with reliability in their respective ways.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Year Founded | 1996 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing Swissquote and IC Markets for commissions and fees, it's evident that both brokers cater to different priorities in the financial trading landscape. Swissquote, with a 3.5-star rating, ranks #52 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com. It's known for the prestige of a Swiss banking affiliation, albeit with slightly higher costs. Swissquote's UK branch provides a more affordable option than its Swiss and Luxembourg counterparts, offering lower deposit thresholds and reduced costs. The Elite account at the UK branch charges a competitive $5 per round-turn trade for those depositing $10,000, positioning it as a favorable choice for active traders. Accounts across the Luxembourg and Swiss branches also have distinct offerings but remain less competitive in terms of fees.
IC Markets, on the other hand, stands out with a commendable 5-star rating, securing the #5 rank for commissions and fees. This broker is hailed for its cost-effectiveness, challenging leading low-cost forex brokers like IG and CMC Markets. IC Markets provides three account types: the commission-free Standard account, Raw Spread, and cTrader Raw Spread accounts, the latter two being commission-based. The cTrader Raw Spread account offers an all-in cost of 0.62 pips after commissions, making it attractive to most traders. IC Markets is also known for providing discounts to traders transacting over 100 standard lots monthly. This cost-efficient pricing strategy makes it superior for those seeking low trading costs.
In summary, Swissquote appeals to traders seeking the stability of a Swiss banking institution at a premium, while IC Markets offers highly competitive pricing suitable for budget-conscious traders. The brokerage preference will largely depend on whether you prioritize a reputable banking name or the most economical trading conditions.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $1000 | $200 |
| Average Spread EUR/USD - Standard | N/A | 0.62 |
| All-in Cost EUR/USD - Active | N/A | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| 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 comparing the range of investments available at Swissquote and IC Markets, there are several factors to consider. Swissquote offers 472 tradeable symbols and includes 80 forex pairs, positioning it as a strong choice for forex enthusiasts. IC Markets, on the other hand, boasts a more extensive selection of 3583 tradeable symbols but only 61 forex pairs, which may suit those who seek diverse trading assets. Additionally, Swissquote allows clients access to U.S. and international exchanges, letting them buy shares like Apple and Vodafone directly, a feature IC Markets lacks for U.S. exchanges.
Both brokers provide the option for copy trading and offer cryptocurrency derivatives. However, Swissquote stands out by also allowing the purchase of actual cryptocurrencies, which IC Markets does not provide. These distinctions earn Swissquote a five-star rating and the #2 ranking for range of investments by ForexBrokers.com, while IC Markets receives a 4.5-star rating and ranks #25. For investors seeking a broad spectrum of investment options, especially those interested in traditional share trading and cryptocurrencies, Swissquote may be the more comprehensive choice.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 472 | 3583 |
| Forex Pairs (Total) | 80 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | 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.
Swissquote and IC Markets both offer online traders a rich selection of trading platforms and tools, though their offerings differ in some key areas. Both brokers provide free demo accounts, allowing potential users to familiarize themselves with the trading environment without financial risk. Swissquote distinguishes itself with a proprietary platform developed in-house, while IC Markets relies on third-party offerings. Both companies feature highly functional desktop and web-based platforms, and they each support popular MetaTrader 4 and MetaTrader 5 programs. For those interested in automated trading, copy trading is supported by both brokers, yet IC Markets additionally offers ZuluTrade for social trading enthusiasts.
When it comes to technical tools and customization, Swissquote provides a more extensive toolkit with 75 drawing tools for charting compared to IC Markets' 15. Additionally, Swissquote's watch lists are more detailed, offering 11 customizable columns to IC Markets’ 7. Both platforms enable trades directly from stock charts, enhancing convenience for active traders. In terms of recognition, Swissquote excels with a 4.5-star rating for its trading platforms and tools, ranking 11th among 62 brokers rated by ForexBrokers.com, surpassing IC Markets, which holds a 4-star rating and is ranked 17th in the same category.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | 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 | No | Yes |
| Charting - Indicators / Studies (Total) | 86 | 30 |
| Charting - Drawing Tools (Total) | 75 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps offered by Swissquote and IC Markets, both brokers cater to iPhone and Android users, ensuring accessibility across major platforms. They provide essential features like stock or forex price alerts and the ability to draw trendlines on charts without the hassle of manual inputs. Their apps also offer a comprehensive charting experience with 30 technical studies available for traders who depend on analytical tools. For users who prefer customizing their trading interface, both apps allow multiple time frames, from daily to intraday views, and auto-save chart drawings, ensuring a seamless trading experience.
However, there are some distinctions worth noting. The apps of both Swissquote and IC Markets lack the capability to sync watchlists between the mobile app and the user's online account, which might be a downside for those looking for complete synchronization across devices. Despite this limitation, both apps allow the creation of watchlists with real-time quotes. Swissquote slightly edges out its competitor with a user rating of 4.5 stars for its mobile app, compared to IC Markets' 4 stars. Additionally, Swissquote ranks higher at #10 out of 62 brokers on ForexBrokers.com for mobile trading apps, whereas IC Markets sits at #22. With these distinctions, users might prefer Swissquote if they prioritize user ratings and rankings in their decision-making process.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| 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 Swissquote and IC Markets provide comprehensive market research to their users, making them appealing options for traders seeking well-rounded resources. They each offer daily market commentary and deliver forex news from top-tier sources like Bloomberg and Reuters. Additionally, both brokers incorporate tools from Autochartist to aid in technical and fundamental analysis. Swissquote and IC Markets also offer an economic calendar to help traders stay informed about key global events.
Despite these similarities, there are differences in their offerings. IC Markets includes tools from Trading Central, providing technical analytics that Swissquote does not. Furthermore, IC Markets features a sentiment-based trading tool displaying the ratio of long or short positions, which Swissquote lacks. Both brokers have a robust research reputation, each receiving a 4-star rating for research, though Swissquote is ranked slightly higher at #16 compared to IC Markets' #22 according to ForexBrokers.com.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Swissquote and IC Markets in terms of educational resources for beginners, both brokers excel in providing a variety of learning materials. Each platform offers at least ten educational pieces focused on forex and CFDs, including articles, videos, and webinars. For those interested in live learning, both brokers conduct monthly online educational webinars and maintain a searchable archive of past sessions, making it easy to access valuable information at any time. Beginner and advanced traders alike can benefit from their educational video content, with each broker offering a minimum of ten videos tailored to both levels of expertise. Additionally, they both provide an investor dictionary with over 50 investing terms to help beginners grasp essential concepts.
Despite their extensive educational offerings, both Swissquote and IC Markets are rated with four stars for education, indicating room for improvement. However, IC Markets holds a slight edge, ranking 16th out of 62 brokers in the education category according to ForexBrokers.com, while Swissquote is ranked 21st. These rankings suggest that while both platforms are strong contenders for beginners seeking education in trading, IC Markets is perceived to offer a slightly better educational experience.
| Feature |
Swissquote
|
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 Swissquote is better than IC Markets. Swissquote finished with an overall rank of #11, while IC Markets finished with an overall rank of #20.
Traders choose Swissquote for its quality research and vast multi-asset offering – as long as they are willing to pay a premium to have their brokerage account held with a Swiss bank.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Swissquote allows users to purchase actual cryptocurrencies as well as cryptocurrency derivatives, offering a more diverse trading experience compared to IC Markets, which limits users to cryptocurrency derivatives only.
When comparing online brokers Swissquote and IC Markets, both platforms provide convenient fund transfer options including PayPal, Skrill, Visa, Mastercard, and bank wires, but Swissquote uniquely offers ACH and SEPA transfers, unlike IC Markets.
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 | Swissquote | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Swissquote Review | IC Markets Review |
| Broker Screenshots | Swissquote | IC Markets | |
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| Regulation | Swissquote | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1996 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Swissquote | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | 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) | Swissquote | 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) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Swissquote | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 472 | 3583 | |
| Forex Pairs (Total) | 80 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | 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 | Swissquote | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.62 | |
| All-in Cost EUR/USD - Active | N/A | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Swissquote | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $1000 | $200 | |
| 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 | Yes | No |
| Trading Platforms | Swissquote | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Swissquote | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 86 | 30 | |
| Charting - Drawing Tools (Total) | 75 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Swissquote | IC Markets | |
|---|---|---|---|
| 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 | Swissquote | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Swissquote | 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 | Swissquote | 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 | Swissquote Review | IC Markets Review |
| Overall | Swissquote | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Swissquote Review | IC Markets Review |
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