FXTM vs IC Markets
Compare FXTM vs IC Markets Side by Side
Deciding between FXTM vs IC Markets to find the broker that best aligns with your trading requirements? We made a detailed comparison between FXTM Review and IC Markets Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all other crucial aspects side by side.
Summary
| Feature | FXTM | IC Markets |
|---|---|---|
| Website | //www.forextime.com | //www.icmarkets.com |
| Founded year | 2011 | 2007 |
| Headquarter | Cyprus | Australia |
| Licenses | UK, Cyprus, South Africa, Kenya, Mauritius | Australia, Cyprus, Seychelles |
| Minimum Deposit | US$ 100 | 200 US$ |
| Trading Platforms | MT4, MT5 | cTrader, MT4, MT5 |
| Eurusd avg Spread | 1.5 pips | 1 pip |
Licenses
| Feature | FXTM | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
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FXTM is a well-respected forex brokerage, holding licenses in various regions, including the prestigious UK and Cyprus. Additionally, it reinforces its regulatory compliance with oversight in South Africa and Mauritius, ensuring comprehensive international coverage. In contrast, IC Markets adheres to strict regulatory standards in Australia, Cyprus, and Seychelles.
Broker Types
| Feature | FXTM | IC Markets |
|---|---|---|
| Broker types |
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FXTM functions as an ECN broker, acting exclusively as an intermediary between clients and liquidity providers. Similarly, IC Markets operates as an ECN broker, directly connecting traders to liquidity sources. This approach fosters transparency by eliminating the necessity for a dealing desk and results in more competitive spreads, thanks to its direct access to interbank prices.
Trading Conditions
| Feature | FXTM | IC Markets |
|---|---|---|
| Trading Conditions |
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FXTM and IC Markets both provide trading conditions featuring variable spreads. They offer traders the flexibility to opt for trading with spreads included in the fees or selecting zero spreads along with competitively low commissions. Moreover, both brokers cater to a range of trading strategies, including scalping and hedging, making them suitable choices for diverse trading styles.
Fees & Commissions
| Fees & Commissions | FXTM | IC Markets |
|---|---|---|
| Inactivity Feemonth | $5 | 0 $ |
| Deposit fee | $0 | 0 $ |
| Withdrawal fee | $3 | 0 $ |
| Rollover fee eurusd buy 1 lot | -10.68 | -0.62 |
| Rollover fee eurusd sell 1 lot | 1.02 | 0.41 |
| Avg Eurusd standard acc | 1.5 pips | 1 pips |
| Gold | 9 | 1 |
| Brent oil | 4 pips | 5 pip |
| Bitcoin | 20 | 42.036 |
Both brokers have spreads that exceed the industry average for trades without commissions, but they also provide zero-spread options with associated commissions based on the account type. Additionally, IC Markets doesn’t impose any non-trading fees such as inactivity charges, while FXTM levies fees for both withdrawals and inactivity.
Account Types
| Feature | FXTM | IC Markets |
|---|---|---|
| Account types |
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Both brokers extend a Standard account option to traders, allowing for customization into corporate or Swap-Free Islamic accounts when needed. Moreover, they offer MAM and PAMM account options, beneficial for those managing multiple accounts or distributing trades across various accounts. These account types are especially advantageous for money managers and investors seeking a consolidated platform for overseeing their trading activities.
Markets & Instruments
| Markets & Instruments | FXTM | IC Markets |
|---|---|---|
| Forex | 60 | 60 |
| Indices | ✔️ | 23 |
| Commodities | ✔️ | 19 |
| Cryptocurrencies | ✔️ | 10 |
| Shares | 170 | 120+ |
| Bonds | ❌ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ✔️ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | ❌ | ❌ |
FXTM provides a broad spectrum of market instruments, encompassing over 60 forex products, along with CFDs covering cryptocurrencies, shares, stocks, indices, and precious metals. Additionally, for its UK clients, FXTM offers a Spread Betting option. On the other hand, IC Markets includes futures among its offerings.
Trading Platforms
| Feature | FXTM | IC Markets |
|---|---|---|
| Platforms |
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IC Markets provides traders with an extensive MetaTrader suite, comprising both MT4 and MT5, and additionally offers the cTrader platform, known for its sophistication, catering to experienced traders. In contrast, FXTM primarily offers platform options limited to MT4 and MT5.
Deposit & Withdrawal Methods
| Feature | FXTM | IC Markets |
|---|---|---|
| Payment methods |
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Both FXTM and .IC Markets offer quick money transfer methods, encompassing bank wire transfers, credit/debit cards, and e-wallets such as Neteller and Skrill. However, it’s important to note that the available funding options might differ based on jurisdiction and the specific account type.
Others
| Feature | FXTM | IC Markets |
|---|---|---|
| Others |
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In terms of education, FXTM shines with its extensive range of educational resources covering diverse materials and frequently conducts educational events in cities worldwide. In terms of education, they provide a rich reservoir of resources. From engaging webinars and informative video tutorials to in-depth market analyses and written guides, they cater to traders with an eagerness to enhance their market proficiency.
Conclusion on IC Markets vs FXTM
In summarizing the comparison between FXTM and IC Markets, both brokers offer commendable trading conditions supported by rigorous regulation. They provide a diverse array of market instruments with competitive spreads and favorable terms, user-friendly trading platforms, as well as excellent support and educational resources, catering to traders of varying levels of expertise. Here is our final recommendation:
- FXTM –
Best Broker for Pattern Trading offering commendable trading conditions with a variety of charting tools - IC Markets — Best Broker for Beginners offering a transparent pricing model utilizing a more flexible execution model.
