Our ForexBrokers.com team spent seven months and hundreds of hours assessing 20 different forex broker accounts
for trading FX. In total, over 5,000 data points were collected. For this review, we will compare AvaTrade vs IC Markets.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. IC Markets's score is 4.00 stars versus AvaTrade's 3.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. AvaTrade and IC Markets both are regulated in a major hub. Neither are publicly traded companies. How many currency pairs are available to trade? IC Markets boasts an offering of 60 different currency pairs compared to AvaTrade's 59 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. AvaTrade and IC Markets both offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. Both brokers offer clients access to the same number of charting tools, 31. Both AvaTrade and IC Markets provide clients with access to 51 total indicators (eg, moving averages).
Overall, IC Markets takes the upper hand with 4.00 stars over AvaTrade's 3.50 stars. And, when it comes to individual category awards, unfortunately, neither AvaTrade nor IC Markets received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.