Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Fineco, 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.
IC Markets, established in 2007, and Fineco, which has been around since 1999, offer intriguing differences when it comes to regulatory standing and market presence. While both brokers hold two Tier-1 licenses, signaling a high level of trust, their trust scores tell a story of distinction. Fineco, with a Trust Score of 94, is publicly traded and functions as a bank, granting it a layer of credibility and financial oversight that IC Markets—privately held with a score of 84—does not inherently possess. This additional layer of security makes Fineco a particularly appealing choice for those valuing transparency and financial stability.
Despite these differences, IC Markets offers a commendable level of trustworthiness with its own two Tier-1 licenses and remains a solid option within the trading community. Its status as a specialized broker without banking affiliations may appeal to traders looking for focused, expansive trading features. Ultimately, the choice between IC Markets and Fineco hinges on individual preferences regarding regulatory confidence, company transparency, and the additional benefits of bank-associated services that Fineco provides.
| Feature |
IC Markets
|
Fineco
|
|---|---|---|
| Year Founded | 2007 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When it comes to commissions and fees, IC Markets stands out as a top choice for low-cost trading, particularly in the forex market. Offering three account types — a commission-free Standard account, and commission-based Raw Spread and cTrader Raw Spread accounts — IC Markets provides flexibility catering to different trading strategies. The Raw Spread accounts differ slightly in costs depending on the chosen platform; the cTrader account charges $3.0 per side per 100,000 units, totaling an effective spread of 0.62 pips for EUR/USD, whereas the MetaTrader accounts charge $3.5 per side per 100,000 units, with a total spread of 0.72 pips. IC Markets also offers discounts for those who trade over 100 standard lots monthly, making it highly appealing for active traders. With these competitive offerings, IC Markets garnered a 5-star rating and ranked 5th in the Commissions & Fees category among 63 brokers on ForexBrokers.com.
In contrast, Fineco does not disclose average spread data for its forex and CFD trading, making it challenging to evaluate its actual trading costs. The broker lists a spread of 1 pip for EUR/USD, which is higher compared to what many forex brokers typically offer. Additionally, Fineco publishes a spread of 0.8 pips, but no average values or corresponding dates are available for these figures. Despite this, Fineco may provide more favorable spreads on its index CFDs than those listed for forex, offering some competitive edge in that market. As a result, Fineco earned a 3.5-star rating and ranked 51st in the same Commissions & Fees category from ForexBrokers.com.
| Feature |
IC Markets
|
Fineco
|
|---|---|---|
| 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 | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and Fineco both provide a solid platform for forex trading, offering both CFD and spot contract options. However, IC Markets delivers access to 61 tradeable forex pairs, slightly more than Fineco's 54 pairs. When comparing the overall number of tradeable symbols, Fineco edges ahead with 9,770 symbols, significantly outnumbering the 3,583 available at IC Markets. Additionally, while both platforms allow trading of international exchange-listed securities like Vodafone, only Fineco enables purchasing U.S. exchange-traded securities such as Apple shares.
For those interested in derivative trading, IC Markets provides the ability to trade cryptocurrency derivatives, which Fineco does not offer. Furthermore, IC Markets includes a copy trading feature, allowing users to replicate successful trades, a service Fineco does not provide. Despite some differences, both brokers score similarly for their range of investments, each earning 4.5 stars. However, their ranking differs slightly, with Fineco rated at #16 and IC Markets at #25 out of 63 brokers by ForexBrokers.com.
| Feature |
IC Markets
|
Fineco
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 9770 |
| Forex Pairs (Total) | 61 | 54 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | No |
| 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 the trading platforms and tools of IC Markets and Fineco, IC Markets stands out with its broader range of options for traders. IC Markets offers the advantage of a free virtual demo account, which is perfect for beginners looking to practice without financial risk. The broker provides access to MetaTrader 4 and 5, along with ZuluTrade and copy trading features, making it an appealing choice for those who value comprehensive trading capabilities. IC Markets also delivers a seamless experience with its Windows-based desktop and web-based platforms, and lets users trade directly from a stock chart for enhanced trading efficiency.
In contrast, Fineco provides a distinctive trading experience with its proprietary platform, developed in-house to suit various trading needs. While it lacks MetaTrader support and a demo account for simulated trading, Fineco ensures a reliable performance with its Windows-based desktop and web-based platforms. However, it falls short in advanced trading features like copy trading and ZuluTrade, which some traders might miss. Despite fewer drawing tools compared to IC Markets, Fineco maintains a solid reputation, with its trading platforms and tools section receiving a commendable four stars and a ranking of #18 among 63 brokers as per ForexBrokers.com.
| Feature |
IC Markets
|
Fineco
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 15 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of IC Markets and Fineco, both brokers offer apps for iPhone and Android devices, and allow users to set up stock or forex price alerts. However, IC Markets stands out with its capability to include trendlines on charts, which Fineco's app does not support. Both apps provide options to view charts in various time frames like daily, weekly, or intraday. Additionally, IC Markets impresses with 30 technical studies available for charting, compared to just 6 offered by Fineco.
While both applications score 4 out of 5 stars for their mobile trading experience, IC Markets is ranked higher by ForexBrokers.com, coming in at position #22 out of 63 brokers, whereas Fineco ranks at #42. IC Markets also offers a superior experience with auto-saving of chart drawings and the ability to create a watchlist featuring real-time quotes, features that Fineco's app currently lacks. It's important to note that neither broker supports syncing watchlists across platforms. Overall, IC Markets offers a more feature-rich mobile app experience compared to Fineco.
| Feature |
IC Markets
|
Fineco
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of IC Markets and Fineco, IC Markets has the edge in several key areas. IC Markets provides daily market commentary to keep traders informed, while Fineco does not offer such updates. Both brokers present forex news from top-tier sources like Bloomberg and Reuters, ensuring traders stay current with global developments. However, IC Markets stands out by providing tools from companies like Autochartist and Trading Central, which assist in both technical and fundamental analysis. Fineco does not offer these advanced research tools. Furthermore, IC Markets offers a sentiment-based trading tool that displays the ratio of long to short positions across various instruments, a feature that Fineco lacks.
Both IC Markets and Fineco offer an economic calendar highlighting important global news events. Despite IC Markets' broader range of research tools, both brokers are rated 4 stars for research. According to ForexBrokers.com, IC Markets secures the 23rd spot in research rankings out of 63 brokers, while Fineco ranks slightly lower at 33rd. Each platform offers different strengths, allowing traders to choose based on their specific needs and preferences.
| Feature |
IC Markets
|
Fineco
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| 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.
When it comes to educational resources for beginners, IC Markets and Fineco each have their own unique strengths. IC Markets shines in providing a wide array of education centered on forex and CFDs, offering over ten educational pieces like articles and videos, and maintaining an archive of past webinars that can be accessed easily. Fineco, on the other hand, does not meet this specific threshold of educational content in forex and CFDs, and lacks a searchable archive of client webinars. Both platforms, however, facilitate regular monthly educational webinars for clients and supply over ten beginner-friendly video resources on trading topics.
IC Markets also caters to advanced traders by offering more than ten educational videos that delve into topics for those with more experience in trading. In contrast, Fineco focuses predominantly on beginner education and does not provide a comparable number of advanced video resources. Both brokers include an investor dictionary with definitions for over fifty investing terms. Despite their varied approaches to education, both IC Markets and Fineco have achieved a 4-star rating for education; however, IC Markets ranks significantly higher in the education category with ForexBrokers.com, coming in at #16 compared to Fineco's #49.
| Feature |
IC Markets
|
Fineco
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| 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 Fineco. IC Markets finished with an overall rank of #20, while Fineco finished with an overall rank of #25.
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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Fineco
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 94 |
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While both IC Markets and Fineco do not offer the ability to buy actual delivered cryptocurrency, IC Markets provides the option to trade cryptocurrency derivatives, whereas Fineco does not.
In a comparison between online brokers, IC Markets allows account deposits and withdrawals via PayPal, Skrill, Visa or Mastercard, and bank wires, but does not offer ACH or SEPA transfers, whereas Fineco provides ACH or SEPA transfers and bank wires, yet lacks PayPal, Skrill, and Visa or Mastercard options.
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 | Fineco | |
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| Trust Score | 84 | 94 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Fineco Review |
| Broker Screenshots | IC Markets | Fineco | |
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| Regulation | IC Markets | Fineco | |
|---|---|---|---|
| Trust Score | 84 | 94 | |
| Year Founded | 2007 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Fineco | |
|---|---|---|---|
| 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 | Yes |
| Tier-2 Licenses (Trusted) | IC Markets | Fineco | |
|---|---|---|---|
| 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 | IC Markets | Fineco | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 9770 | |
| Forex Pairs (Total) | 61 | 54 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | No | |
| 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 | Fineco | |
|---|---|---|---|
| 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 | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | No |
| Funding | IC Markets | Fineco | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | Fineco | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | Fineco | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | N/A | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 15 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | Fineco | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | Fineco | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Fineco | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| 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 | Fineco | |
|---|---|---|---|
| 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 | Fineco Review |
| Overall | IC Markets | Fineco | |
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| Trust Score | 84 | 94 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Fineco Review |
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