Written by ForexBrokers.com
In this head to head comparison of IC Markets vs BDSwiss, 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, IC Markets is a well-established online broker known for its high level of trust. With a Trust Score of 84 as rated by ForexBrokers.com, IC Markets is considered a trusted platform, holding two Tier-1 licenses for its operations. Although it is not publicly traded or affiliated with a bank, the company's reliable regulatory status makes it a favored choice among many traders seeking a secure trading environment.
In comparison, BDSwiss, which was founded in 2012, holds a Trust Score of 73, categorizing it as an average-risk broker. While not publicly traded or a bank, BDSwiss manages to maintain a presence in the trading world with one Tier-1 license. Despite both brokers not harboring Tier-2 licenses, their regulatory standing offers prospective clients a clear picture, with IC Markets having an edge in terms of trust and regulatory compliance.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Year Founded | 2007 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
Comparing commissions and fees, IC Markets generally delivers lower all-in trading costs than BDSwiss. IC Markets earned 5 out of 5 stars and ranks #5 of 63 for Commissions & Fees (Best in Class in 2024), while BDSwiss holds 4 out of 5 stars and ranks #31 of 63. IC Markets’ low effective spreads and low minimum deposit for its commission-based accounts help it compete with the cheapest forex brokers.
IC Markets offers three account types: Standard (spread only, no commission), Raw Spread (MT4/MT5), and cTrader Raw Spread. Commissions on the cTrader Raw Spread account are $3.00 per side per 100k ($6 round turn), versus $3.50 per side on MT4/MT5 ($7 round turn). IC Markets lists an average raw spread of 0.02 pips on EUR/USD (Aug 2022); after commission, the all-in cost is about 0.62 pips on cTrader and 0.72 pips on MetaTrader Raw. The Standard account averages 0.62 pips with no commission. Pricing can vary by platform, account, and whether you’re onboarded under its European, Australian, or Seychelles entity. Active traders who exceed 100 standard lots per month can qualify for discounts.
BDSwiss’ pricing is straightforward but higher on average. The Classic account shows about 1.5 pips on EUR/USD, and the VIP account about 1.2 pips. The Raw account quotes 0.3 pips plus a $5 commission per side, bringing the effective EUR/USD cost to roughly 1.3 pips. While BDSwiss highlights good execution statistics, its spreads and total costs are typically higher than leaders like IC Markets, which helps explain the difference in star ratings and category rankings.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Minimum Deposit | $200 | $10-$5000 |
| Average Spread EUR/USD - Standard | 0.62 | 1.6 |
| All-in Cost EUR/USD - Active | 0.62 | 1.3 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| 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.
IC Markets vs BDSwiss: IC Markets offers a wider range of investments with 3,583 tradeable symbols compared to 1,081 at BDSwiss. Both brokers support forex trading (CFD/spot) and copy trading; IC Markets lists 61 forex pairs while BDSwiss lists 53. For stocks, neither provides real, exchange‑traded U.S. shares, but IC Markets does offer real shares on select international exchanges, which BDSwiss does not. Both allow trading cryptocurrency derivatives, though neither lets you buy actual crypto.
These differences show up in the ratings: IC Markets scores 4.5/5 stars for Range of Investments and ranks 26th out of 63 brokers on ForexBrokers.com, while BDSwiss scores 4/5 stars and ranks 35th. If you want more instruments and access to international shares, IC Markets has the edge; BDSwiss covers a smaller, straightforward lineup.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 1081 |
| Forex Pairs (Total) | 61 | 53 |
| 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 BDSwiss based on their trading platforms and tools, both brokers provide traders with a comprehensive suite of options. IC Markets and BDSwiss each offer a free virtual demo account, allowing users to practice trading without financial risk. Along with MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both brokers support Windows-based desktop and web-based trading platforms. However, while BDSwiss comes with its own proprietary platform, IC Markets leverages well-known third-party solutions. Additionally, both platforms offer a variety of copy trading features, although IC Markets extends its capabilities further by providing access to ZuluTrade. Both brokers empower traders to execute trades directly from charts and they each offer 15 drawing tools for chart analysis.
In terms of customization and analysis, IC Markets and BDSwiss offer seven columns for watch lists. Both brokers are rated four stars for their trading platforms and tools, reflecting a satisfying experience for most users. However, IC Markets holds a competitive edge in the ForexBrokers.com ranking, placing at number 16 compared to BDSwiss's position at number 24 out of 63 brokers. Despite these differences, both brokers provide a user-friendly and versatile environment for a range of traders’ needs, making them strong contenders in the realm of online trading.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| 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.
When comparing the mobile trading apps of IC Markets and BDSwiss, both brokers offer excellent options for iPhone and Android users. Both platforms allow traders to receive stock and forex price alerts, which ensures timely updates, and include the possibility of drawing trendlines on charts. Each app also supports multiple time frames, enabling traders to analyze daily, weekly, or intraday data conveniently. With 30 technical studies available in both apps, traders have plenty of tools to conduct in-depth chart analysis. Furthermore, the apps make it simple to create watchlists with real-time quotes, though neither provides watchlist symbol syncing between mobile and online accounts. Importantly, both apps auto-save chart drawings, so you don’t have to redo them every time.
In terms of user ratings, IC Markets and BDSwiss mobile apps both receive strong acknowledgment with a four-star rating out of five. However, when ranked by ForexBrokers.com in the Mobile Trading Apps category, IC Markets narrowly edges out BDSwiss, holding the 22nd position compared to BDSwiss's 24th out of 63 brokers. This suggests that while both apps offer substantial features and functionality, IC Markets might have a slight edge in user experience or additional offerings that make it marginally more favorable among traders. Whether you choose IC Markets or BDSwiss for mobile trading, both platforms provide comprehensive tools and features that cater to the needs of modern traders.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| 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 | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IC Markets and BDSwiss both provide daily market commentary and include an economic calendar showcasing global news events. When it comes to forex news, IC Markets stands out by accessing top-tier sources such as Bloomberg, Reuters, or Dow Jones, unlike BDSwiss, which lacks this feature. Both brokers utilize advanced technical analysis tools from Autochartist and Trading Central, thereby catering to traders looking for sophisticated research tools.
IC Markets offers a sentiment-based trading tool that gives insight into the ratio of long and short positions, a service not available with BDSwiss. Neither broker provides research tools from TipRanks or Acuity Trading. Both brokers are rated 4 out of 5 stars for research, with IC Markets slightly ahead in rankings, positioned at #23 out of 63 brokers by ForexBrokers.com, while BDSwiss is ranked at #24.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets and BDSwiss both give beginner traders plenty of forex and CFD education. Each broker provides 10+ learning pieces, runs at least one live client webinar every month, and offers a searchable archive of past sessions. You’ll also get 10+ beginner video lessons plus 10+ advanced videos for when you’re ready to level up, along with an investor dictionary featuring 50+ terms to make trading concepts easier to understand.
Both brokers earn 4 out of 5 stars for Education. In category rankings, IC Markets is #16 out of 63 brokers, while BDSwiss is #22. If a slightly higher-ranked education center matters to you, IC Markets has the edge. If you’re after a broad mix of videos, webinars, and an easy-to-browse library, BDSwiss keeps pace. Either way, beginners will find clear guidance and continuous live learning.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 BDSwiss. IC Markets finished with an overall rank of #20, while BDSwiss finished with an overall rank of #36.
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
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BDSwiss
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 73 |
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Both IC Markets and BDSwiss do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
IC Markets and BDSwiss both provide options for using Skrill, Visa or Mastercard, and bank wires to deposit or withdraw account funds, but only IC Markets supports PayPal transactions while BDSwiss uniquely offers ACH and SEPA transfers, positioning each broker distinctly in terms of funding flexibility.
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 | BDSwiss | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BDSwiss Review |
| Broker Screenshots | IC Markets | BDSwiss | |
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| Regulation | IC Markets | BDSwiss | |
|---|---|---|---|
| Trust Score | 84 | 73 | |
| Year Founded | 2007 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | BDSwiss | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| 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 | Yes |
| Tier-2 Licenses (Trusted) | IC Markets | BDSwiss | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | BDSwiss | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 1081 | |
| Forex Pairs (Total) | 61 | 53 | |
| 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 | BDSwiss | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.62 | 1.3 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IC Markets | BDSwiss | |
|---|---|---|---|
| Minimum Deposit | $200 | $10-$5000 | |
| 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 | Yes |
| Trading Platforms | IC Markets | BDSwiss | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | BDSwiss | |
|---|---|---|---|
| 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 | BDSwiss | |
|---|---|---|---|
| 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 | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | BDSwiss | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | BDSwiss | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | BDSwiss | |
|---|---|---|---|
| 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 | BDSwiss Review |
| Overall | IC Markets | BDSwiss | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BDSwiss Review |
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