Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Trade Nation, 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, established in 2007, and Trade Nation, launched in 2014, are both reputable online brokers offering a high level of trust. Neither of the brokers is publicly traded or operates as a bank. According to ForexBrokers.com, IC Markets holds an impressive Trust Score rating of 84 out of 99, while Trade Nation slightly surpasses with a score of 85. These scores signify that both brokers are trusted partners for trading, with IC Markets holding two top-tier licenses and Trade Nation also possessing two such licenses, along with an additional Tier-2 license.
Both brokers demonstrate strong regulatory standing, with IC Markets and Trade Nation each secured by two Tier-1 licenses. While IC Markets has no Tier-2 licenses, Trade Nation's singular Tier-2 license adds to its credibility. Although close in Trust Scores and licensing, the choice between IC Markets and Trade Nation may come down to personal preference and specific trading needs, offering peace of mind in their regulatory compliance and trading security.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Year Founded | 2007 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
When comparing IC Markets and Trade Nation on commissions and fees, both online brokers offer compelling options that cater to different trading needs. IC Markets shines with small effective spreads and a low deposit requirement for its commission-based accounts, placing it among the best low-cost forex brokers alongside IG and CMC Markets. Earning Best in Class honors in the Commissions & Fees category in the 2024 Annual Awards, IC Markets offers three account types: a commission-free Standard account, and commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account charges a lower commission at $3 per side for every 100,000 units, while MetaTrader accounts incur a $3.5 per side charge. Effective spreads are competitive, with an average spread of 0.02 pips and adding up to 0.62 pips on cTrader accounts, making IC Markets a strong choice for low-cost trading. Additionally, active traders get discounts when they trade over 100 standard lots monthly.
Trade Nation takes a different approach with its competitive fixed-spread pricing on its proprietary platform, along with variable spreads on its MetaTrader platform. It sets itself apart by maintaining a fixed spread distance as prices update, listing a fixed spread of 0.6 pips for the EUR/USD pair. However, spreads widen briefly during the daily rollover period, pushing the average closer to 1 pip. Trade Nation offers three primary account types: a commission-based Raw Spread account charging $3.50 per side per standard lot and a commission-free account on MetaTrader, along with the TN Trader account which seems to provide the lowest spreads on its own platform. This flexibility and transparency in pricing make Trade Nation a solid choice for traders who prefer fixed spreads.
Both brokers receive high ratings for their commissions and fees, with IC Markets boasting a 5-star rating and ranking #5 out of 62 brokers, while Trade Nation also receives a 5-star rating but ranks #7. These distinctions highlight their efficiency and competitiveness in providing cost-effective trading solutions. Whether you prefer the adaptive pricing of IC Markets or the steady fixed spreads of Trade Nation depends on your trading style and platform preference.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | 0.6 |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 |
| Active Trader or VIP Discounts | Yes | No |
| 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 Trade Nation on their range of investments, IC Markets stands out with a more extensive selection. Offering 3,583 tradeable symbols, IC Markets provides a broad array of choices, including 61 forex pairs available for trading as CFDs or spot contracts. In contrast, Trade Nation offers a smaller pool of 1,000 tradeable symbols, which includes 46 forex pairs. Neither broker provides the option to invest directly in exchange-traded securities on U.S. exchanges; however, IC Markets offers international exchange-traded securities such as Vodafone shares, whereas Trade Nation does not. Both platforms support copy trading and the trading of cryptocurrency derivatives but not the purchase of actual cryptocurrency.
IC Markets receives a commendable 4.5 stars for its range of investments, ranking 25th out of 62 brokers on ForexBrokers.com. This rating highlights its extensive offerings and international market access. On the other hand, Trade Nation garners a 3.5-star rating and ranks 38th for investment range, indicating a more limited selection. Investors seeking a broader spectrum of tradeable assets, particularly international opportunities, may find IC Markets more appealing.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 1000 |
| Forex Pairs (Total) | 61 | 46 |
| 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 the trading platforms and tools of IC Markets and Trade Nation, both brokers offer a strong selection but cater to traders with different needs. IC Markets provides MetaTrader 4 and 5, as well as ZuluTrade for those interested in copy trading. While IC Markets does not have a proprietary platform, it offers familiar and widely used options, like a Windows desktop download and a web-based platform. With a demo account available for practice trading, IC Markets includes features such as 15 drawing tools for charting and the ability to trade directly from stock charts. With seven columns available for watch lists, it provides an organized way to monitor trading interests.
Trade Nation, on the other hand, stands out with its proprietary platform, exclusive to its users, offering a unique trading experience. Like IC Markets, it supports MetaTrader 4, a desktop download, and a browser-based platform, but does not offer MetaTrader 5 or connections to platforms like ZuluTrade or DupliTrade. For traders who value high customization in charting, Trade Nation provides an impressive 39 drawing tools. Its watch lists are also well-equipped, comprising 14 columns for detailed tracking. Both brokers are rated four stars for their platforms and tools, yet IC Markets ranks higher at 16th compared to Trade Nation's 45th place in ForexBrokers.com's ranking among 62 brokers, reflecting a slight edge in overall platform appeal.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| 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 | 99 |
| Charting - Drawing Tools (Total) | 15 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IC Markets and Trade Nation, both brokers deliver essential features for traders using iPhone and Android devices. They both support stock and forex price alerts, drawing trendlines, and viewing multiple time frames, such as daily, weekly, or intraday, ensuring traders can stay informed and analyze data effectively. Additionally, both apps automatically save drawings on charts and allow users to create watchlists with real-time quotes. However, a significant difference lies in watchlist synchronization; Trade Nation offers syncing between the mobile app and the user's online account, while IC Markets does not.
For traders who rely heavily on technical analysis, Trade Nation offers a more extensive array of charting tools with 99 technical studies, compared to IC Markets’ 30. Despite this, both trading apps have been rated four stars for their overall performance. In a ranking by ForexBrokers.com, IC Markets is higher up at #22, compared to Trade Nation's position at #45 out of 62 brokers. Overall, while both apps provide a comprehensive trading experience, your choice may depend on whether you value more technical studies or seamless watchlist syncing in your trading routine.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 99 |
| 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 IC Markets and Trade Nation for market research offerings, IC Markets stands out with its daily market commentary, providing traders with insightful updates every day. In contrast, Trade Nation does not offer this feature. Both brokers supply forex news from reputable sources like Bloomberg and Reuters, ensuring traders receive quality information. IC Markets further enhances its research offerings with tools from Autochartist and Trading Central, equipping traders with technical analysis and research insights. Trade Nation, however, does not offer these tools, which can be a consideration for traders seeking detailed analysis. Furthermore, both brokers provide sentiment-based trading tools, but only IC Markets offers an economic calendar for tracking global news events.
The differences in research tools and services are reflected in their ratings and rankings. IC Markets has earned a commendable research rating of 4 stars, placing it at 23rd out of 62 brokers. Trade Nation, while also providing valuable insights, has a research rating of 3.5 stars and is ranked 42nd. These distinctions highlight the varied levels of market information and tools available from each broker, catering to different trader preferences and needs.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, IC Markets stands out as a valuable online broker. It provides a wide range of learning materials, including over ten educational pieces focusing on forex and CFDs. Additionally, IC Markets offers monthly online educational webinars, a searchable archive of previous webinars, and more than ten beginner-specific trading videos. Moreover, advanced traders can benefit from IC Markets' selection of over ten advanced educational videos. An investor dictionary with definitions for at least 50 investing terms further enhances its educational offerings. As a result, IC Markets earns a commendable 4-star rating in education and ranks #16 among 62 brokers according to ForexBrokers.com.
Trade Nation also offers educational resources but to a lesser extent. It provides a selection of educational materials similar in quantity to IC Markets, with more than ten beginner-focused trading videos available. However, Trade Nation does not conduct monthly educational webinars or maintain a searchable archive of past webinars, which limits its live learning opportunities. The platform does not offer advanced trading videos or an extensive investor dictionary. While Trade Nation holds a respectable 3.5-star rating for education and is ranked #42 out of 62 brokers by ForexBrokers.com, beginners seeking comprehensive educational tools may find IC Markets to be a more suitable option.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| 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 Trade Nation. IC Markets finished with an overall rank of #20, while Trade Nation finished with an overall rank of #34.
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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Trade Nation
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 85 |
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Both IC Markets and Trade Nation provide the option to trade cryptocurrency derivatives, but neither broker supports the purchase of actual (delivered) cryptocurrency.
When comparing online brokers, IC Markets and Trade Nation both offer Skrill, Visa, Mastercard, and bank wires for depositing and withdrawing funds, but IC Markets also provides the option to use PayPal, whereas neither broker supports ACH or SEPA transfers.
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 | Trade Nation | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Trade Nation Review |
| Broker Screenshots | IC Markets | Trade Nation | |
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| Regulation | IC Markets | Trade Nation | |
|---|---|---|---|
| Trust Score | 84 | 85 | |
| Year Founded | 2007 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Trade Nation | |
|---|---|---|---|
| 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 | No |
| Tier-2 Licenses (Trusted) | IC Markets | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 1000 | |
| Forex Pairs (Total) | 61 | 46 | |
| 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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.6 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| 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 | Trade Nation | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| 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 | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 14 | |
| Charting - Indicators / Studies (Total) | 30 | 99 | |
| Charting - Drawing Tools (Total) | 15 | 39 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | IC Markets | Trade Nation | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | IC Markets | Trade Nation | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | No |
| Education | IC Markets | Trade Nation | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IC Markets | Trade Nation | |
|---|---|---|---|
| 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 | Trade Nation Review |
| Overall | IC Markets | Trade Nation | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Trade Nation Review |
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