Written by ForexBrokers.com
In this head to head comparison of eToro vs IC Markets, 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, eToro and IC Markets are both popular online brokers, each bringing unique offerings. A significant difference lies in their regulatory framework. eToro enjoys a high Trust Score rating of 96 out of 99 from ForexBrokers.com, reflecting a high level of trust, partly due to holding three Tier-1 licenses and one Tier-2 license. In addition, eToro is a publicly traded company, which may also contribute to its transparency and perceived reliability.
In contrast, IC Markets, also established in 2007, holds two Tier-1 licenses and lacks Tier-2 licenses, contributing to its Trust Score of 84 out of 99. This score indicates a solid level of trust, though slightly less robust than eToro. Unlike eToro, IC Markets is not publicly traded. Both eToro and IC Markets are not banks, but each offers a different set of positives based on their regulatory standings and business structures.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Year Founded | 2007 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When considering online brokers, eToro and IC Markets offer distinct differences in commissions and fees, making each platform appealing for different types of traders. eToro, primarily known for its social copy trading capabilities, is a market-maker broker offering a typical variable spread of 1 pip on the EUR/USD, which is slightly above the industry average. Retail traders may not opt for eToro due to its spreads but might find value in its VIP Club, which offers tiered membership benefits ranging from discounted fees to exclusive tools for those maintaining higher account balances. In terms of commissions and fees, eToro receives a commendable 4.5-star rating and is ranked #22 out of 63 brokers by ForexBrokers.com.
IC Markets, on the other hand, is celebrated for its competitive pricing and low trading costs, earning Best in Class honors in the Commissions & Fees category in the 2024 Annual Awards. With its multiple regulatory entities and account choices, such as commission-free Standard accounts and commission-based Raw Spread and cTrader Raw Spread accounts, IC Markets provides flexibility in customization to users. Notably, its effective spreads on the EUR/USD can be as low as 0.62 pips when accounting for cTrader account commissions, making it a favored option for cost-conscious traders. IC Markets holds a superior 5-star rating and is ranked #5 out of 63 brokers for commissions and fees.
Both platforms cater to different trader priorities; eToro excels with its social trading environment and VIP benefits, while IC Markets is a standout for those seeking low-cost trading conditions. Whether traders prioritize innovative trading platforms or cost-effectiveness, the choice between eToro and IC Markets largely hinges on individual trading strategies and cost considerations.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $200 |
| Average Spread EUR/USD - Standard | 1 | 0.62 |
| All-in Cost EUR/USD - Active | N/A | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 eToro and IC Markets, both platforms offer a comprehensive array of investment opportunities, making them strong contenders in the online brokerage industry. eToro provides access to 5,461 tradeable symbols, surpassing IC Markets' offering of 3,583. For forex enthusiasts, eToro offers 55 tradeable forex pairs, while IC Markets provides a slightly wider selection with 61 pairs. Importantly, eToro allows clients to invest in U.S. exchange-traded securities, such as Apple shares, a feature not available with IC Markets. Both brokers excel in providing international exchange-traded securities, enabling users to purchase shares of companies like Vodafone on the London Stock Exchange.
In terms of cryptocurrency investments, eToro stands out by offering both actual cryptocurrencies and derivatives, whereas IC Markets restricts clients to derivatives only. Both platforms are equipped with copy trading capabilities for those interested in mimicking successful trading strategies. Ranked by ForexBrokers.com, eToro secures the #10 spot with a solid five-star rating for its range of investments, reflecting its extensive offerings. IC Markets, while also impressive with a 4.5-star rating, is ranked #25, indicating a slightly narrower yet still competitive range of investment choices.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 3583 |
| Forex Pairs (Total) | 55 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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.
eToro and IC Markets both offer traders a free virtual demo account, allowing users to practice trading without risking real money. While eToro shines with its proprietary trading platform developed in-house, IC Markets provides access to advanced platforms like MetaTrader 4 and 5. Both platforms offer web-based trading, but IC Markets goes a step further with a Windows-based desktop download option, which might appeal to those who prefer a traditional software setup. When it comes to copy trading, those interested can find this feature on both platforms, although IC Markets also integrates with ZuluTrade for an additional option. eToro, however, does not offer ZuluTrade or DupliTrade, choices that some traders might miss depending on their strategy preferences.
When it comes to charting, eToro impresses with 161 drawing tools compared to IC Markets' 15, although IC Markets supports trading directly from the stock chart, a feature eToro lacks. In terms of organization, IC Markets provides up to 7 columns for watch lists, slightly more than eToro's 6 columns. With a trading platform and tools rating of 4.5 stars, eToro edges out IC Markets' 4 stars, ranking 8th among 63 brokers compared to IC Markets' 16th position according to ForexBrokers.com. Each platform has its pros and cons, so traders should consider which features are most important for their individual needs when choosing between eToro and IC Markets.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between eToro and IC Markets for mobile trading, both platforms provide powerful apps for iPhone and Android users, enabling traders to stay connected on the go. They both offer essential features like stock and forex price alerts and the ability to create watchlists with real-time quotes. However, eToro holds an edge with features such as watchlist symbol syncing between its mobile and online accounts, ensuring seamless transitions between devices. In terms of charting capabilities, eToro outshines IC Markets by offering 104 technical studies compared to just 30 from IC Markets. While IC Markets allows trendline drawing and auto-saves chart drawings, eToro compensates by supporting multiple time frames for stock and forex charts.
eToro is rated 4.5 stars for its mobile trading app, ranking 10th out of 63 brokers by ForexBrokers.com. This places it ahead of IC Markets, which holds a 4-star rating and ranks 22nd. This suggests that users appreciate eToro's broader feature set and user experience on mobile platforms. Ultimately, traders may prefer eToro for its comprehensive app features and superior charting capabilities, while those prioritizing specific chart drawing features might lean towards IC Markets.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing eToro and IC Markets in terms of market research offerings, both platforms provide daily market commentary, ensuring investors stay updated with the latest market trends. However, IC Markets takes the lead by offering forex news from prestigious sources like Bloomberg and Reuters, which is something eToro lacks. Both brokers provide access to technical and fundamental research tools from Trading Central, as well as sentiment-based trading tools that display position ratios across various instruments. However, while eToro benefits from its collaboration with TipRanks, IC Markets does not offer this feature.
Furthermore, both brokers offer economic calendars to keep users informed of significant global events affecting the markets. In terms of ratings, eToro is slightly ahead with a score of 4.5 stars for research, compared to IC Markets' 4 stars. When ranked amongst competitors, eToro is positioned at #13, a more favorable standing than IC Markets, which holds the #23 spot out of 63 brokers according to ForexBrokers.com. Overall, eToro offers a slightly richer research package, making it a better choice for traders prioritizing comprehensive market insights.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both eToro and IC Markets excel in offering a comprehensive suite of learning tools. eToro provides a wealth of educational content with over 10 educational pieces, monthly webinars, and an extensive archive of recorded sessions. It also offers a variety of videos tailored not only for beginners but also for advanced traders, along with an investor dictionary containing definitions for over 50 investing terms. Similarly, IC Markets matches eToro in these areas by also offering a range of articles, educational videos, and webinars aimed at novice and advanced traders alike.
While both brokers deliver in-depth learning materials, eToro stands out with a 4.5-star rating for education, ranking as the 5th best out of 63 brokers according to ForexBrokers.com. IC Markets, while highly reputable and featuring similar educational offerings as eToro, holds a slightly lower education rating of 4 stars and is ranked 16th. This small difference in ratings and rankings might make eToro a more appealing choice for those who value highly rated educational support, although both platforms offer solid pathways for traders looking to enhance their trading knowledge.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| 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 eToro is better than IC Markets. eToro finished with an overall rank of #9, while IC Markets finished with an overall rank of #20.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 96 | 84 |
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eToro enables investors to purchase actual cryptocurrency alongside cryptocurrency derivatives, while IC Markets solely offers opportunities to invest in cryptocurrency derivatives.
eToro and IC Markets both offer various payment options, including PayPal, Skrill, Visa, Mastercard, and bank wires, but eToro additionally provides ACH and SEPA transfer options, which IC Markets does not support.
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 | eToro | IC Markets | |
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| Trust Score | 96 | 84 | |
| Winner | check_circle | ||
| Review | eToro Review | IC Markets Review |
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| Regulation | eToro | IC Markets | |
|---|---|---|---|
| Trust Score | 96 | 84 | |
| Year Founded | 2007 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | eToro | IC Markets | |
|---|---|---|---|
| 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) | Yes | No | |
| 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) | eToro | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| 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) | No | No |
| Investments | eToro | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 3583 | |
| Forex Pairs (Total) | 55 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | eToro | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 0.62 | |
| All-in Cost EUR/USD - Active | N/A | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | eToro | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | eToro | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | IC Markets | |
|---|---|---|---|
| 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 | eToro | IC Markets | |
|---|---|---|---|
| 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 | eToro Review | IC Markets Review |
| Overall | eToro | IC Markets | |
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| Trust Score | 96 | 84 | |
| Winner | check_circle | ||
| Review | eToro Review | IC Markets Review |
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