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, founded in 1996, stands as a publicly traded entity with banking status, which contributes to its high level of trust and reliability. Holding five Tier-1 licenses and two Tier-2 licenses, Swissquote is strongly regulated, resulting in an impressive Trust Score of 99 out of 99 according to ForexBrokers.com. This positions Swissquote as not just a broker but also a financial institution that is highly trusted by its users, offering a sense of security for those seeking to invest with confidence.
Founded in 2007, IC Markets is known for its competitive offerings but isn't publicly traded and doesn't hold a banking license. While IC Markets holds two Tier-1 licenses, it lacks any Tier-2 licenses, which results in a ForexBrokers.com Trust Score of 84 out of 99. This score places IC Markets within the "trusted" category, offering a bit more risk than Swissquote, yet still maintaining a solid framework for those engaging in online brokerage activities.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Year Founded | 1996 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 2 | 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.
When comparing Swissquote's and IC Markets' trading platforms and tools, both brokers offer a wide range of options suitable for traders of all levels. Swissquote distinguishes itself with a proprietary platform, developed in-house, offering users a unique trading experience. Both brokers provide Windows-based desktop and web-based trading platforms, including popular MetaTrader options, MT4 and MT5. In terms of simulated trading, both offer free virtual demo accounts, allowing traders to practice and hone their strategies without financial risk. In addition, both allow users to engage in copy trading, though IC Markets extends its social trading capabilities further with support for ZuluTrade, unlike Swissquote.
Swissquote impressively offers a greater variety in charting tools with 75 drawing tools compared to IC Markets' 15, facilitating detailed market analysis. Additionally, Swissquote provides 11 watch list columns for detailed market monitoring, whereas IC Markets offers 7. Trading directly from stock charts is available with both brokers, enhancing user convenience. Swissquote holds a slightly higher rating for its trading platforms and tools, scoring 4.5 out of 5 stars, and is ranked #12 out of 62 brokers by ForexBrokers.com. In contrast, IC Markets is rated 4 stars, ranking at #16. Overall, both brokers present appealing platforms with unique strengths suited for different trading preferences.
| 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 Swissquote and IC Markets for their mobile trading apps, both brokers offer apps for iPhone and Android users, ensuring traders can engage with the markets regardless of their device. Both platforms provide useful tools such as stock or forex price alerts and the ability to draw trendlines on charts, which can help traders make informed decisions. Additionally, their mobile apps support multiple time frames for chart analysis and offer auto-saving features for drawings, adding a layer of convenience for users. Both Swissquote and IC Markets allow users to create watchlists with real-time quotes, although neither provides the ability to sync watchlists between mobile and online accounts.
In terms of charting capabilities, each app offers 30 technical studies, giving traders solid tools for analyzing market trends. Despite these similarities, Swissquote edges out IC Markets with a higher mobile app rating of 4.5 stars compared to IC Markets' 4 stars. This performance is further reflected in their rankings by ForexBrokers.com, where Swissquote is positioned at #11 out of 62 brokers, while IC Markets holds the #22 spot. Overall, both apps are well-equipped for mobile trading, but Swissquote seems to offer a slightly better user experience and reputation in the market.
| 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 are strong contenders in the realm of market research for online brokers, offering a variety of tools and insights to their users. Both brokers provide daily market commentary and deliver forex news from top-tier sources like Bloomberg and Reuters, ensuring traders stay informed with reliable information. Additionally, each platform integrates Autochartist tools for technical and fundamental analysis, alongside offering an extensive economic calendar with upcoming global news events. However, IC Markets takes a slight edge in its research offerings by including tools from Trading Central and delivering a sentiment-based trading feature that shows the ratio of long and short positions across currency pairs, which Swissquote does not offer.
When it comes to ratings, both Swissquote and IC Markets receive 4 out of 5 stars for research. However, there is a nuance in their rankings: Swissquote holds the 16th position out of 62 brokers on ForexBrokers.com for research, outperforming IC Markets, which is ranked 23rd. Despite these differences, both brokers have carved out reputable spaces in the market, catering to traders who value accessible and dependable research tools to back their trading decisions.
| 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 | |
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| Review | Swissquote Review | IC Markets Review |
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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 | 2 | 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) | Yes | 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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