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eToro vs IC Markets
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Compare eToro vs IC Markets Side by Side
Can’t decide between eToro and IC Markets and have doubts of which broker is actually suitable for your trading needs? Use our detailed comparison guide of eToro Review and IC Markets, which includes a comparison of the safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details compared side by side.
Summary
| Feature | eToro | IC Markets |
|---|---|---|
| Website | //www.etoro.com | //www.icmarkets.com |
| Founded year | 2006 | 2007 |
| Headquarter | Israel | Australia |
| Licenses | UK, Australia, Cyprus, Seychelles | Australia, Cyprus, Seychelles |
| Minimum Deposit | 50 US$ | 200 US$ |
| Trading Platforms | eToro platform | cTrader, MT4, MT5 |
| Eurusd avg Spread | 0.97 pip | 1 pip |
Licenses
| Feature | eToro | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
|
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Both eToro vs IC Markets are highly regarded brokers, operating under the supervision of reputable financial regulatory authorities such as those in Australia and the UK. Each broker possesses multiple top-tier licenses, including UK regulatory approval, and maintains offshore entities to provide their services on a global scale.
Broker Types
| Feature | eToro | IC Markets |
|---|---|---|
| Broker types |
|
|
eToro operates as a Market Maker Broker, which means it facilitates trading by acting as the counterparty to its clients’ trades and offers unique features such as social trading. On the other hand, IC Markets follows the ECN model, which provides direct access to liquidity providers and often results in faster execution and potentially tighter spreads.
Trading Conditions
| Feature | eToro | IC Markets |
|---|---|---|
| Trading Conditions |
|
|
eToro and IC Markets slightly differ in their trading conditions. IC Markets predominantly offers variable spreads, whereas eToro provides traders with the flexibility to choose between fixed and variable spreads, noteworthy for its commission-free trading model.
Both brokers accommodate various trading strategies, including hedging and social trading. However, eToro imposes restrictions on scalping, making IC Markets a potentially more suitable choice for traders who favor this strategy.
Fees & Commissions
| Fees & Commissions | eToro | IC Markets |
|---|---|---|
| Inactivity Feemonth | $10 | 0 $ |
| Deposit fee | 0$ | 0 $ |
| Withdrawal fee | 5$ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.00008269 | -0.62 |
| Rollover fee eurusd sell 1 lot | 0.00001841 | 0.41 |
| Avg Eurusd standard acc | 0.97 pip | 1 pips |
| Gold | 4.5 | 1 |
| Brent oil | 5 | 5 pip |
| Bitcoin | 102.71 | 42.036 |
IC Markets offers a more favorable fee structure, with no non-trading fees such as deposit/withdrawal or inactivity charges. In contrast, eToro imposes a $10 inactivity fee and a $5 withdrawal fee. However, eToro’s spreads are slightly lower than those of IC Markets
Account Types
| Feature | eToro | IC Markets |
|---|---|---|
| Account types |
|
|
eToro classifies its account types according to traders’ experience levels and caters to both retail and corporate requirements. In contrast, IC Markets provides a diverse range of trading accounts tailored to accommodate various trading preferences and needs. Additionally, both brokers offer Islamic accounts for traders who adhere to Sharia Law principles.
Markets & Instruments
| Markets & Instruments | eToro | IC Markets |
|---|---|---|
| Forex | 52 | 60 |
| Indices | 21 | 23 |
| Commodities | 32 | 19 |
| Cryptocurrencies | 74 | 10 |
| Shares | 3203 | 120+ |
| Bonds | ❌ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | 325 | ❌ |
IC Markets’ market range is wider than that of eToro, additionally offering Bonds and Futures, while eToro has the advantage in the number of crypto trading offerings over 70 cryptocurrencies to trade
Trading Platforms
| Feature | eToro | IC Markets |
|---|---|---|
| Platforms |
|
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The platform range of IC Markets is larger offering industry-standard MT4 and MT5 as well as its cTrader platform tailored to users preferring more sophisticated technical solutions, while eToro offers only its proprietary platform which is more catered to beginners and is not that sophisticated. We recommend that advanced traders consider IC Markets as their preferred trading platform.
Deposit & Withdrawal Methods
| Feature | eToro | IC Markets |
|---|---|---|
| Payment methods |
|
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Both eToro and IC Markets offer a wide array of funding options, encompassing credit/debit cards and various e-wallets, providing traders with flexibility when it comes to managing their accounts.
Others
| Feature | eToro | IC Markets |
|---|---|---|
| Others |
|
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Both eToro and IC Markets brokers are highly proficient in delivering outstanding customer support through telephone, live chat, and email channels. IC Markets holds an advantage in this aspect by offering 24/7 support. In terms of educational resources, our research indicates that both IC Markets and eToro provide a similar level of education for traders, ensuring valuable learning resources for their respective user bases.
Conclusion on IC Markets vs eToro
In summary, both eToro vs IC Markets are reputable, globally regulated brokers. IC Markets is a preferred choice for advanced traders, offering sophisticated tools, multiple account options, scalping capabilities, and a fee structure without non-trading commissions. On the other hand, eToro stands out with its broad range of instruments, especially for cryptocurrency enthusiasts, and competitive spreads. Here is our final recommendation:
- eToro – 🥇Best Broker for Crypto Trading for a number of top traders and Best Industry Social Trading Broker
- IC Markets –
Best Broker for Raw Spread Trading offering some of the lowest possible spreads available
