Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Axi, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 2007, both IC Markets and Axi have established themselves as respected online brokers. Neither of these companies is publicly traded or operates as a bank. When it comes to regulatory trustworthiness, IC Markets and Axi each hold two Tier-1 licenses, which indicates a high level of trust, according to ForexBrokers.com. However, Axi also holds one Tier-2 license, adding another layer of regulated credibility. These licenses help ensure that the brokers operate in a secure, reliable manner for traders.
In terms of overall trust scores from ForexBrokers.com, IC Markets edges out Axi with a score of 84 compared to Axi's 82, placing both brokers within the "trusted" category. While there are slight differences in their regulatory licenses and trust scores, both IC Markets and Axi offer reliable options for those exploring this field. Traders can feel confident knowing that both brokers are held to high standards that prioritize user security and trust.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Year Founded | 2007 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing IC Markets and Axi based on commissions and fees, IC Markets stands out with its competitive pricing and flexibility. It offers three account types, including the commission-free Standard account and two commission-based options: Raw Spread and cTrader Raw Spread accounts. The cTrader account features a slightly lower commission cost at $3 per side per 100,000 units compared to $3.5 for the MetaTrader Raw Spread account. Both accounts have exceptionally low effective spreads, with the cTrader account averaging an all-in cost of 0.62 pips on EUR/USD trades. IC Markets also provides lower trading costs for those who exceed 100 standard lots monthly. This remarkable cost efficiency earns IC Markets a five-star rating and a number five ranking in the Commissions & Fees category out of 63 brokers by ForexBrokers.com.
In comparison, Axi provides fewer details regarding its specific commission and fee structure, which may make it less transparent for some traders. Despite the lack of average spread data, Axi maintains a reasonable four-star rating for commissions and fees. However, its position at number 43 in the ForexBrokers.com ranking suggests there are more cost-effective options available for traders seeking lower fees and tighter spreads.
Ultimately, IC Markets appears to have a slight advantage over Axi in terms of offering competitive rates and comprehensive account options, making it an appropriate choice for traders focused on minimizing trading costs. With its top-tier commission structure and efficiency, IC Markets leads the charge in providing value-friendly trading experiences.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing IC Markets and Axi in terms of the available range of investments, both platforms offer forex trading as either CFDs or spot contracts. IC Markets stands out with a significant variety, providing access to 3,583 tradeable symbols, while Axi offers a more limited selection with 175. In the realm of forex pairs, however, Axi gains a slight edge with 65 pairs compared to IC Markets’ 61. Neither broker allows the purchase of exchange-traded securities, like Apple shares, on U.S. exchanges. Yet, IC Markets takes the lead for international exchange offerings, enabling the purchase of international securities like Vodafone shares—a service Axi does not provide.
Both IC Markets and Axi support copy trading and offer cryptocurrency derivatives, although neither sells actual cryptocurrencies. Based on these offerings, IC Markets receives a higher rating for its range of investments with 4.5 stars, compared to Axi’s 3.5 stars. This difference is further reflected in their rankings by ForexBrokers.com, where IC Markets holds the 25th position among 63 brokers, whereas Axi is placed at 56th. This indicates that while both brokers have strengths, IC Markets offers a broader array of investment opportunities than Axi.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 175 |
| Forex Pairs (Total) | 61 | 65 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing IC Markets and Axi for trading platforms and tools, both brokers offer a strong set of features for traders at all levels. Each provides free virtual demo accounts, allowing users to practice without risk. Both IC Markets and Axi rely on industry-renowned platforms rather than developing proprietary systems, with options to use MetaTrader 4 (MT4). IC Markets extends its versatility by supporting MetaTrader 5 (MT5) as well, an option Axi doesn't provide. For desktop users, both brokers offer Windows-based platforms alongside web-based browser access. Copy trading enthusiasts will find support through ZuluTrade with both brokers, though DupliTrade is not available through either. For charting needs, IC Markets and Axi match up with 15 drawing tools each, allowing for ample technical analysis and the capability to trade directly from stock charts.
IC Markets and Axi allow traders to personalize their watch lists with up to 7 columns. While both platforms are packed with essential features, IC Markets stands out with a better user rating of 4 stars for its trading platforms and tools, compared to Axi's 3.5 stars. Furthermore, IC Markets ranks significantly higher on ForexBrokers.com's list, coming in at position 16 out of 63, while Axi finds itself at the bottom of the ranking. These distinctions indicate that while both brokers provide comprehensive trading solutions, IC Markets may offer a slightly more refined experience for those prioritizing platform tools and customization.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and Axi both offer mobile trading apps for iPhone and Android users, making it easy for traders to monitor and execute trades on the go. Both apps provide stock and forex price alerts and allow for the creation of watchlists with real-time quotes. However, neither app currently supports watchlist symbol syncing, which means changes made on one platform won't automatically update on the other. For chart enthusiasts, both brokers offer 30 technical studies and the ability to draw trendlines, view different time frames, and engage in detailed analysis. However, IC Markets has an edge with the ability to auto-save drawings on stock or forex charts, a feature absent in Axi's app.
When it comes to rankings and user ratings, IC Markets stands out with a 4-star rating for its mobile app, while Axi follows closely behind with a 3.5-star rating. According to ForexBrokers.com, IC Markets is ranked 22nd out of 63 brokers for its mobile trading apps, showcasing a favorable position, while Axi sits at 59th place. This difference in ranking may guide users who prioritize mobile app performance in their trading experience. Both brokers deliver essential tools for mobile traders, but IC Markets appears to offer a slight advantage in terms of app features and user satisfaction.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing IC Markets to Axi for market research offerings, there are some notable differences that potential users should consider. IC Markets impresses with its daily market commentary, providing traders with insights into the latest market trends. Both brokers offer forex news from reliable sources such as Bloomberg, Reuters, and Dow Jones, ensuring that users have access to high-quality information. Additionally, each platform provides users with tools from Autochartist to assist in technical and fundamental analysis, supporting a wide range of trading strategies.
However, IC Markets stands out by offering tools from Trading Central, such as Technical Analytics, which Axi lacks. Both brokers provide sentiment-based trading tools and economic calendars, allowing traders to track the current market sentiment and important global economic events. Despite these similarities, IC Markets is rated higher in research, earning 4 stars compared to Axi's 3 stars. Furthermore, IC Markets ranks 23rd out of 63 brokers in the Research category by ForexBrokers.com, while Axi is positioned at 55th, highlighting a stronger preference for IC Markets among industry experts.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing IC Markets and Axi, both online brokers provide a substantial amount of educational material tailored for beginners interested in forex and CFDs trading. IC Markets excels with a better variety, including a comprehensive archive of recorded webinars—an advantage Axi doesn't match. Both platforms offer monthly webinars and more than ten beginner-friendly videos, which are essential for new traders transitioning into the market.
However, IC Markets stands out with additional educational resources for more experienced traders, as well as a detailed investor dictionary with over 50 trading terms. This broader range of educational tools earns IC Markets a higher education rating of 4 stars versus Axi's 3 stars. Consequently, IC Markets is ranked 16th out of 63 brokers by ForexBrokers.com in the Education category, outperforming Axi, which holds the 27th position.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than Axi. IC Markets finished with an overall rank of #20, while Axi finished with an overall rank of #49.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
|
Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 82 |
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Both IC Markets and Axi do not provide the option to purchase actual delivered cryptocurrencies, but they both offer the ability to trade cryptocurrency derivatives.
When comparing the online brokers IC Markets and Axi, it is notable that while both offer Skrill, Visa, Mastercard, and bank wire options for depositing and withdrawing funds, only IC Markets provides PayPal as a payment method, whereas neither broker supports ACH or SEPA transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IC Markets | Axi | |
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| Trust Score | 84 | 82 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | Axi | |
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| Regulation | IC Markets | Axi | |
|---|---|---|---|
| Trust Score | 84 | 82 | |
| Year Founded | 2007 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IC Markets | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 175 | |
| Forex Pairs (Total) | 61 | 65 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IC Markets | Axi | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Axi | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | Axi | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | IC Markets | Axi | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | Axi | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | IC Markets | Axi | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | Axi | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IC Markets Review |
| Overall | IC Markets | Axi | |
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| Trust Score | 84 | 82 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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