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FXCM vs IC Markets
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Updated:
Compare FXCM Vs IC Markets Side by Side
Unsure whether to choose FXCM vs IC Markets and wonder which broker suits your needs more? Read our detailed comparison guide of FXCM Review and IC Markets Review, 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 | FXCM | IC Markets |
|---|---|---|
| Website | //www.fxcm.com | //www.icmarkets.com |
| Founded year | 1999 | 2007 |
| Headquarter | UK | Australia |
| Licenses | UK, Australia, South Africa | Australia, Cyprus, Seychelles |
| Minimum Deposit | US$50 | 200 US$ |
| Trading Platforms | MT4, Trading Station, ZuluTrade, TradingView, Ninja Trader, Capitalise AI | cTrader, MT4, MT5 |
| Eurusd avg Spread | 1.3 pips | 1 pip |
Licenses
| Feature | FXCM | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
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FXCM is a well-respected brokerage firm, strictly regulated by authoritative bodies such as the UK’s FCA and Australia’s ASIC, ensuring enhanced trader protection and advantageous trading conditions. FXCM also maintains regulations in South Africa, further cementing its reliability and trustworthiness.
Similarly, IC Markets adheres to strict regulatory standards, holding accreditations in multiple jurisdictions including Australia, Cyprus, and Seychelles, underlining its commitment to providing a secure and dependable trading environment.
Broker Types
| Feature | FXCM | IC Markets |
|---|---|---|
| Broker types |
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FXCM functions in dual capacities – as a Market Maker and an STP Broker. When operating as a Market Maker, FXCM acts as the counterparty, while as an STP Broker, it facilitates traders’ orders directly to liquidity providers without intervening, promoting faster execution and potentially narrower spreads. This approach is generally preferred by traders who seek direct market access for its benefits.
Contrarily, IC Markets predominantly operates as an ECN broker, fostering a platform where various market participants can engage and interact, further enhancing the trading ecosystem.
Trading Conditions
| Feature | FXCM | IC Markets |
|---|---|---|
| Trading Conditions |
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Both brokerages are attuned to a variety of trading strategies, embracing practices such as hedging and scalping trading. They offer competitive spreads, promoting cost-effectiveness and efficiency in trading, coupled with swift and reliable order execution. Additionally, they empower traders with a robust selection of trading tools and resources, enhancing and elevating the overall trading experience for their clients.
Fees & Commissions
| Fees & Commissions | FXCM | IC Markets |
|---|---|---|
| Inactivity Feemonth | 0 $ | 0 $ |
| Deposit fee | 0 $ | 0 $ |
| Withdrawal fee | 0 $ | 0 $ |
| Rollover fee eurusd buy 1 lot | -2.5% | -0.62 |
| Rollover fee eurusd sell 1 lot | +3% | 0.41 |
| Avg Eurusd standard acc | 1.3 pips | 1 pips |
| Gold | 0.76 | 1 |
| Brent oil | 0.04 | 5 pip |
| Bitcoin | 27.13 | 42.036 |
FXCM’s spreads tend to be slightly above the industry average, while IC Markets provides raw spreads that can go as low as 0.0 pips, charging a commission of $7 per round lot. It’s notable that neither of the brokers imposes any extra fees, ensuring transparency and straightforwardness in their fee structures.
Account Types
| Feature | FXCM | IC Markets |
|---|---|---|
| Account types |
|
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FXCM and IC Markets offer one type of account that also accommodates Islamic accounts, ensuring that traders adhering to Sharia laws can engage in currency trading on their platforms seamlessly. IC Markets further diversifies its account offerings by including a Micro account option to cater to varying trading needs and preferences of different traders.
Markets & Instruments
| Markets & Instruments | FXCM | IC Markets |
|---|---|---|
| Forex | 40 | 60 |
| Indices | ✔️ | 23 |
| Commodities | 10 | 19 |
| Cryptocurrencies | 7 | 10 |
| Shares | 64 | 120+ |
| Bonds | ❌ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | 35 | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | 15 | ❌ |
FXCM offers a variety of market products, including a selection of forex pairs, cryptocurrencies, and stocks, along with spread betting options. In contrast, IC Markets expands its offerings to include futures, but does not provide the option for spread betting.
Trading Platforms
| Feature | FXCM | IC Markets |
|---|---|---|
| Platforms |
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FXCM showcases an extensive array of trading platforms, enhancing trading flexibility and choice. Their offerings include renowned platforms like MT4, Zulutrade, NinjaTrader, as well as their exclusive proprietary platform, all curated to meet various trading needs and preferences.
On the other hand, IC Markets enriches traders’ experiences by providing a comprehensive MetaTrader suite that includes both the MT4 and MT5 platforms. Additionally, IC Markets features cTrader—a sophisticated and advanced trading platform meticulously designed to meet the nuanced needs of discerning traders, facilitating a robust and versatile trading environment.
Deposit & Withdrawal Methods
| Feature | FXCM | IC Markets |
|---|---|---|
| Payment methods |
|
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IC Markets offers an extensive variety of funding options, encompassing a wide array of e-wallets, alongside debit/credit cards, and bank wire transfers, catering to diverse client needs. Conversely, FXCM presents a more limited selection of e-wallet options. Despite this, both brokerages ensure that money transfers are conducted swiftly and securely, upholding enhanced security protocols to safeguard clients’ funds.
Others
| Feature | FXCM | IC Markets |
|---|---|---|
| Others |
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Both brokers stand out due to their exceptional customer support services, offering a variety of contact options such as phone, live chat, and email, ensuring that clients receive timely and efficient assistance. In terms of educational resources, both brokers excel by providing extensive, well-rounded educational content. They frequently organize global educational events, including seminars and webinars, as part of their robust educational programs, ensuring traders have access to a wealth of learning resources and support.
Conclusion on IC Markets vs FXCM
In concluding the comparison review between FXCM and IC Markets, both brokers excel in providing conducive trading environments, featuring a broad spectrum of markets that cater to various trader needs. They ensure fast execution and robust protection for traders. FXCM particularly appeals to seasoned traders with its array of sophisticated tools and diverse platform selections, while IC Markets stands out with its competitive spreads. Here is our final recommendation:
- FXCM — 🥇Best Spread Betting Broker with advanced charting tools and good market research
- IC Markets — 🥇Best Raw Spreads Broker catered to different traders’ needs all while offering exceptional conditions
