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IG vs IC Markets
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Updated:
Compare IG vs IC Markets Side by Side
Can’t pick between IG and IC Markets and have doubts about which broker is actually better? Use our detailed guide of IG Review vs IC Markets Review, where we compared safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | IG | IC Markets |
|---|---|---|
| Website | //www.ig.com | //www.icmarkets.com |
| Founded year | 1974 | 2007 |
| Headquarter | UK | Australia |
| Licenses | UK, Australia, Switzerland, Singapore, UAE, Japan, US | Australia, Cyprus, Seychelles |
| Minimum Deposit | 300 US$ | 200 US$ |
| Trading Platforms | IG Proprietary, MT4 | cTrader, MT4, MT5 |
| Eurusd avg Spread | 0.6 pips | 1 pip |
Licenses
| Feature | IG | IC Markets |
|---|---|---|
| Licenses Countries Info (short) |
|
|
IG and IC Markets are subject to regulation in Australia and possess EU licenses, showcasing their dedication to adhering to rigorous regulatory norms. Beyond their Australian and EU regulatory compliance, both brokers have established a robust presence in multiple respected jurisdictions, bolstering the dependability and global accessibility of their offerings. Furthermore, IG surpasses this by extending its services to traders based in the United States.
Broker Types
| Feature | IG | IC Markets |
|---|---|---|
| Broker types |
|
|
IG functions as a Market Maker, assuming the opposing side of trades and offering fixed fees or spreads to ensure a steady trading cost structure. Conversely, IC Markets utilizes a range of execution models, operating as an ECN broker or STP broker, adjusting its approach depending on the type of account chosen by the trader.
Trading Conditions
| Feature | IG | IC Markets |
|---|---|---|
| Trading Conditions |
|
|
IG is well-suited for beginners, offering competitive spreads and access to various trading strategies. On the other hand, IC Markets generally offers competitive trading conditions, characterized by swift order execution and tight spreads, making it an attractive choice for traders in search of rapid order processing.
Fees & Commissions
| Fees & Commissions | IG | IC Markets |
|---|---|---|
| Inactivity Feemonth | 18 $ | 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 | +2.5% | 0.41 |
| Avg Eurusd standard acc | 0.6 pips | 1 pips |
| Gold | 30 | 1 |
| Brent oil | 3 | 5 pip |
| Bitcoin | 65 | 42.036 |
Both IG and IC Markets provide cost-effective fee structures, including zero commissions for deposits and withdrawals. It’s worth noting that IG imposes an $18 inactivity fee, but in return, it offers comparatively narrower spreads when compared to IC Markets
Account Types
| Feature | IG | IC Markets |
|---|---|---|
| Account types |
|
|
IG provides three distinct account types tailored to accommodate various trading styles and preferences. However, it’s important to note that IG does not offer Islamic accounts. In contrast, IC Markets offers a single account type but permits traders who adhere to Sharia Law to open Islamic accounts as well as allows opening a Micro account for traders who want to get exposure to markets but without risking a lot of money.
Markets & Instruments
| Markets & Instruments | IG | IC Markets |
|---|---|---|
| Forex | 200+ | 60 |
| Indices | 78 | 23 |
| Commodities | 45 | 19 |
| Cryptocurrencies | 8 | 10 |
| Shares | 10,000+ | 120+ |
| Bonds | ❌ | 9+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ✔️ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | 4 |
| Etfs | 2,000+ | ❌ |
IG provides a broader spectrum of trading markets, encompassing a substantial variety of forex pairs, commodities, cryptocurrencies, and even a selection of ETFs. Additionally, IG extends access to Spread Betting for its UK clients. On the other hand, IC Markets offers a more limited range of markets and does not include ETFs or Spread Betting in its offerings. However, IC Markets does provide options for trading in Bonds and Futures.
Trading Platforms
| Feature | IG | IC Markets |
|---|---|---|
| Platforms |
|
|
IG offers its proprietary trading platforms, including MetaTrader 4 which is considered industry standard and is known for its good range of tools. On the other hand, IC Markets provides a full-suit MetaTrader platform including MT4 and MT5 as well as cTrader as a more advanced trading solution.
Deposit & Withdrawal Methods
| Feature | IG | IC Markets |
|---|---|---|
| Payment methods |
|
|
In contrast, IG offers a more limited range of supported deposit methods, primarily including credit/debit cards and a few e-wallet options. On the other hand, IC Markets provides traders with a wider variety of e-payment methods, presenting a more diverse selection for added convenience.
Others
| Feature | IG | IC Markets |
|---|---|---|
| Others |
|
|
Both IG and IC Markets excel in providing excellent customer support, and they both offer a solid selection of trading education materials, including guides and video tutorials. However, IG goes a step further by offering its Trading Academy, which encompasses an extensive array of valuable resources, tutorials, webinars to empower traders in their learning journey and enhance their chances of success.
Conclusion on IC Markets vs IG
In summary, after comparing IG and IC Markets, we’ve determined that both brokers are highly dependable and reputable, with strong global offerings and robust regulatory oversight. They both offer competitive spreads, reasonable trading fees, a diverse array of market instruments, and similar trading conditions.
However, we would give an advantage to IC Markets, especially for traders who favor cTrader and require Islamic accounts, given its advanced trading conditions in these areas. On the other hand, IG is better suited for novice traders and those interested in spread betting. Here is our final recommendation:
- IG –
Best MT4 Broker being comfortable for beginning traders - IC Markets – 🥇 Best Broker for Algo Trading offering advanced technical solutions and flexible conditions
