After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare Forex.com (GAIN Capital) vs IC Markets.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Forex.com (GAIN Capital) is a better option with a 4.50 star rating over IC Markets's 4.00 star rating.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Both Forex.com (GAIN Capital) and IC Markets are regulated in a major hub. Forex.com (GAIN Capital) is a publicly traded company, while IC Markets is not. As far as how many currency pairs are available for trading, here's the answer. IC Markets trails Forex.com (GAIN Capital) by 21 total currency pairs (for example, EUR/USD), with Forex.com (GAIN Capital) offering 84 and IC Markets offering 63.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Forex.com (GAIN Capital) and IC Markets both offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, 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 brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, Forex.com (GAIN Capital) comes out on top with 4.50 stars over IC Markets's 4.00 stars. And, when it comes to individual category awards, Forex.com (GAIN Capital) posted awards Best in Class - Research and Best in Class - Investor Education in 2018, while IC Markets found itself with none of these.