Written by ForexBrokers.com
In this head to head comparison of IC Markets vs TeleTrade, 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 TeleTrade are prominent online brokers, but their trust scores and regulatory credentials set them apart. Established in 2007, IC Markets boasts two Tier-1 licenses, which are highly regarded by ForexBrokers.com, earning them a trust score of 84 out of 99. Despite being privately owned and not operating as a bank, these credentials indicate that IC Markets is a broker users can generally feel confident in using.
In contrast, TeleTrade, founded in 1994, holds one Tier-1 license and also remains private and not a bank. With a trust score rating of 71 out of 99, TeleTrade falls into the average risk category according to ForexBrokers.com. This score suggests a slightly higher risk than IC Markets, reflecting the differences in their regulatory standings and trust factors.
| Feature |
IC Markets
|
TeleTrade
|
|---|---|---|
| Year Founded | 2007 | 1994 |
| 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 | 0 |
IC Markets and TeleTrade are two well-known online brokers, but they differ significantly in their commissions and fees structures. IC Markets, recognized for its competitive pricing, offers three distinct account options: the commission-free Standard account and two commission-based accounts, namely the Raw Spread and cTrader Raw Spread accounts. Notably, the cTrader Raw Spread account charges a commission of $3.0 per side for every 100,000 units, while the Raw Spread account using MetaTrader 4 or 5 charges $3.5 per side. This makes IC Markets' cost-efficient services appealing to both new and professional traders. With an overall rating of 5 stars, IC Markets ranks 5th among 62 brokers in the Commissions and Fees category, further establishing its reputation for low trading costs.
TeleTrade, on the other hand, provides less transparency when it comes to average spread data compared to IC Markets. TeleTrade offers a rating of 4 stars in commissions and fees and is ranked 46th among 62 brokers. Although TeleTrade still presents commendable services, it lacks the varied account types and competitive pricing that IC Markets prominently showcases. The absence of detailed spread data makes it more challenging for traders to evaluate the actual costs they might incur through TeleTrade while trading.
In summary, IC Markets stands out with its efficient commission-based accounts and competitive spreads, earning it high ratings and a top-tier rank. Meanwhile, TeleTrade remains a decent choice but may not provide the same level of cost-effectiveness as IC Markets. These differences make IC Markets particularly appealing for traders focused on minimizing their trading expenses.
| Feature |
IC Markets
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| 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 the range of investments offered by IC Markets and TeleTrade, several key differences emerge. Both brokers provide opportunities for forex trading via CFDs or spot contracts, offering the same number of tradeable forex pairs at 61. However, IC Markets stands out with an impressive total of 3,583 tradeable symbols, significantly surpassing TeleTrade's 500. While neither broker offers exchange-traded securities on U.S. exchanges, IC Markets provides access to international exchanges, allowing clients to purchase shares like Vodafone from the London Stock Exchange, a feature not available with TeleTrade.
In terms of trading features, both IC Markets and TeleTrade offer copy trading and the ability to invest in cryptocurrency derivatives, although neither allows the purchase of actual cryptocurrencies. These offerings contribute to IC Markets receiving a higher rating of 4.5 stars for its range of investments, compared to TeleTrade's 3.5 stars. This distinction is further reflected in their rankings on ForexBrokers.com, where IC Markets is positioned as #25 out of 62 brokers, while TeleTrade is ranked at #45, underscoring IC Markets' stronger appeal to potential investors seeking a broader selection of investment opportunities.
| Feature |
IC Markets
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 500 |
| Forex Pairs (Total) | 61 | 61 |
| 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 TeleTrade, both brokers offer a range of popular trading platforms including MetaTrader 4 and MetaTrader 5, with each providing both a Windows desktop download and a web-based platform. Neither broker has developed their own proprietary platform, but both support simulated trading with free virtual demo accounts. Additionally, the two brokers extend copy trading services and enable trading directly from stock charts, adding
| Feature |
IC Markets
|
TeleTrade
|
|---|---|---|
| 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 | Yes |
| Charting - Indicators / Studies (Total) | 30 | 35 |
| 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 TeleTrade both provide mobile trading apps for iPhone and Android users, making them accessible for traders on-the-go. Both platforms offer important features like stock and forex price alerts, tools for drawing trendlines, and the ability to view multiple time frames on their charts. Charting capabilities include an auto-save function for drawings, which is quite handy for active traders. While IC Markets offers 30 technical studies for charting, TeleTrade provides a slightly higher number, with 35 technical studies available to enhance the trading experience.
When it comes to watchlist management, both apps let users create a watchlist with real-time quotes, although neither offers syncing between the mobile app and the online account. In terms of ratings, both IC Markets and TeleTrade receive respectable scores of four out of five stars for their mobile trading apps. However, IC Markets holds a slightly better position, ranking 22nd out of 62 brokers according to ForexBrokers.com, while TeleTrade ranks 25th. Both apps offer reliable options for traders looking to manage their investments from their mobile devices.
| Feature |
IC Markets
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 35 |
| 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.
IC Markets and TeleTrade both offer daily market commentary and provide forex news from prestigious sources like Bloomberg and Reuters, ensuring traders are kept informed with timely updates. While both brokers supply investors with an economic calendar covering global news events, only IC Markets enhances the user's experience with additional research tools. These include technical and fundamental analysis resources from companies like Autochartist and Trading Central. Moreover, IC Markets users benefit from a sentiment-based trading tool, offering insights into market positions that TeleTrade does not provide.
In terms of overall research capabilities, IC Markets stands out with a 4-star rating and is ranked 22nd out of 62 brokers. Conversely, TeleTrade holds a 3.5-star rating, securing the 38th spot for research. Both brokers skip offerings from TipRanks and Acuity Trading, but IC Markets remains a more resourceful choice for traders requiring comprehensive market analysis and insights.
| Feature |
IC Markets
|
TeleTrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| 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 it comes to educational resources for beginners, IC Markets offers a comprehensive suite of options for those eager to learn about forex and CFDs. They provide a broad selection of more than 10 educational pieces including articles, videos, and archived webinars, all focused on helping novices grasp trading concepts. In addition, IC Markets hosts at least one online educational client webinar per month, complemented by a searchable archive of previously recorded sessions. With a library that features over 10 beginner-focused educational videos, as well as advanced content for experienced traders, IC Markets ensures that its users have plentiful resources to build their knowledge. The inclusion of a dictionary defining over 50 investing terms further amplifies their educational offerings, earning them a solid 4-star rating in this category from ForexBrokers.com.
In contrast, TeleTrade falls short in providing educational materials tailored for beginners. Although they offer some resources, they do not meet the criteria of having a minimum of 10 educational pieces centered on forex or CFDs. TeleTrade does not host monthly live webinars or maintain a searchable archive of previous sessions. Further, they lack in-depth video content for both beginners and advanced traders, as well as an extensive investor dictionary. These limitations reflect in their lower 3.5-star education rating and their rank being near the bottom of the ForexBrokers.com list at #61. While both brokers offer educational content, the breadth and accessibility of IC Markets' resources make them a more favorable choice for new traders seeking substantial learning tools.
| Feature |
IC Markets
|
TeleTrade
|
|---|---|---|
| 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 TeleTrade. IC Markets finished with an overall rank of #20, while TeleTrade finished with an overall rank of #50.
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
|
TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 71 |
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IC Markets and TeleTrade both provide the opportunity to trade cryptocurrency derivatives, but neither offers the option to purchase actual cryptocurrencies (not CFDs).
IC Markets and TeleTrade do not provide ACH or SEPA transfers for funding or withdrawals, but while both offer Visa, Mastercard, Skrill, and bank wire options, only IC Markets supports PayPal transactions, distinguishing its online payment capabilities from TeleTrade's.
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 | TeleTrade | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | TeleTrade | |
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| Regulation | IC Markets | TeleTrade | |
|---|---|---|---|
| Trust Score | 84 | 71 | |
| Year Founded | 2007 | 1994 | |
| 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 | 0 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 500 | |
| Forex Pairs (Total) | 61 | 61 | |
| 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 | TeleTrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| 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 | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $200 | $100 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes |
| Trading Tools | IC Markets | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 35 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | TeleTrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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