Written by ForexBrokers.com
In this head to head comparison of FOREX.com 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.
FOREX.com, established in 1999, and IC Markets, founded in 2007, are two prominent online brokers catering to traders worldwide. When examining trustworthiness, FOREX.com shines with a perfect Trust Score of 99 out of 99 by ForexBrokers.com, indicating it's highly reliable. In comparison, IC Markets holds a commendable Trust Score of 84, marking it as a trusted broker as well. Notably, FOREX.com is publicly traded, while IC Markets remains privately owned, and neither operates as a bank.
In terms of regulatory credibility, FOREX.com possesses an impressive seven Tier-1 licenses and one Tier-2 license, which underscores its reliable standing in the financial market. Meanwhile, IC Markets holds two Tier-1 licenses but lacks Tier-2 licensing, reflecting a solid yet less comprehensive regulatory standing compared to FOREX.com. These distinctions highlight key differences in regulatory oversight and trust factor between the two brokers.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Year Founded | 1999 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing FOREX.com to IC Markets in terms of commissions and fees, both brokers are noteworthy, but they cater to different trading preferences. FOREX.com provides a variety of account types and execution methods, such as the Standard account for MetaTrader clients and the Raw Spread account for lower spreads with added commissions. However, it tends to be slightly more expensive than the industry average unless you're an international trader. The Standard account in the U.S. has higher spreads, averaging 1.4 pips for the EUR/USD, while advanced active traders using the Raw account enjoy lower spreads of 0.13 pips, with a commission of $7 per Standard lot. FOREX.com is rated 4.5 stars and ranks #13 out of 63 brokers for commissions and fees.
IC Markets stands out with its competitive pricing structure, securing a 5-star rating and a #5 ranking out of 63 brokers in the Commissions and Fees category. It offers three account types: the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts, both of which provide low effective spreads. For instance, the cTrader account has an all-in cost of 0.62 pips for the EUR/USD, while the MetaTrader Raw Spread account comes to 0.72 pips. The Standard account, commission-free, lists an average spread of 0.62 pips, making it appealing for traders focused on minimizing costs.
Ultimately, your choice between FOREX.com and IC Markets should depend on your trading volume, preferences for execution methods, and desired platform. FOREX.com may suit traders seeking different account structures and market-maker execution benefits, while IC Markets offers some of the best low-cost options for active traders favoring minimal spreads and low commission structures.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $100 | $200 |
| Average Spread EUR/USD - Standard | 1.4 | 0.62 |
| All-in Cost EUR/USD - Active | 0.9 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing FOREX.com and IC Markets, both offer forex trading via CFD or spot contracts, but there are some differences in their range of investments. FOREX.com provides access to a wider array of tradeable symbols with 5,500 available, including 80 forex pairs, which earns it a 5-star rating for its range of investments. Although IC Markets offers a slightly lower number of tradeable symbols at 3,583 and 61 forex pairs, it still boasts a respectable 4.5-star rating. A key distinguishing feature is that IC Markets allows trading international exchange-traded securities, unlike FOREX.com.
Both brokers provide the ability to trade cryptocurrency derivatives instead of the actual cryptocurrencies. IC Markets further diversifies its offerings by supporting copy trading, a service not available with FOREX.com. Ranking-wise, FOREX.com's extensive selection propels it to the 7th spot in the Range of Investments category among 63 brokers evaluated by ForexBrokers.com, whereas IC Markets stands at 25th. This comparison highlights that while both platforms offer substantial trading opportunities, FOREX.com might be more appealing to those prioritizing a larger selection, whereas IC Markets could attract those interested in additional features like international stocks and copy trading.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 3583 |
| Forex Pairs (Total) | 80 | 61 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | No | 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 the trading platforms and tools of FOREX.com and IC Markets, each offers unique features catering to different trader preferences. FOREX.com provides a proprietary platform developed in-house, a feature not available at IC Markets, which relies on third-party platforms like MetaTrader 4 and MetaTrader 5, both of which are available on both brokers. For desktop trading, both brokers offer a Windows-based platform and a browser-based alternative, making them equally versatile for different user setups. Beginners will appreciate the free virtual demo accounts offered by both brokers, which allow for risk-free practice trading.
In terms of advanced tools, FOREX.com stands out with a larger selection of drawing tools for charting, offering 239 compared to IC Markets’ 15. Additionally, FOREX.com provides more extensive watch list customization with 20 columns, whereas IC Markets offers 7. Although IC Markets includes features like copy trading and integration with platforms such as ZuluTrade, FOREX.com achieves a higher rating for trading platforms and tools, earning 5 stars and ranking 7 out of 63 brokers, compared to IC Markets' 4 stars and 16th place ranking. These distinctions suggest that both new and seasoned traders might find FOREX.com more robust for comprehensive trading needs.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 20 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FOREX.com and IC Markets, both brokers offer easy access through iPhone and Android devices, along with features like stock and forex price alerts. However, FOREX.com stands out by offering seamless watchlist symbol syncing between the mobile app and online account, a feature not available with IC Markets. This makes managing your investments more convenient with FOREX.com. Furthermore, FOREX.com provides a more comprehensive charting experience with 88 technical studies, compared to IC Markets' 30. Both platforms allow drawing trendlines and viewing various time frames on charts, and they automatically save these drawings, ensuring a user-friendly experience for chart enthusiasts.
Creating a watchlist with real-time quotes is straightforward in both apps. However, FOREX.com's mobile app receives higher praise with a 5-star rating and ranks 3rd out of 63 brokers according to ForexBrokers.com. In comparison, IC Markets earns 4 stars and ranks 22nd in the same category, highlighting FOREX.com's superior user experience and functionality in mobile trading. Whether you prioritize syncing capabilities or extensive charting options, FOREX.com shows an edge in delivering a more efficient mobile trading tool.
| Feature |
FOREX.com
|
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 | 88 | 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.
When comparing the market research amenities of FOREX.com and IC Markets, both platforms provide daily market commentary and deliver forex news from reputable sources such as Bloomberg and Reuters. While both brokers offer technical research tools from Trading Central, IC Markets additionally provides tools from Autochartist, which FOREX.com does not. Both platforms include sentiment-based trading tools and comprehensive economic calendars to stay updated on global economic events. However, neither broker offers research tools from Acuity Trading or market insights from TipRanks.
In terms of research quality, FOREX.com slightly surpasses IC Markets with a rating of 4.5 stars compared to IC Markets' 4 stars. FOREX.com is ranked 9th out of 63 brokers in the research category according to ForexBrokers.com, whereas IC Markets stands at 23rd. This indicates that while both brokers offer valuable research tools, FOREX.com demonstrates a slight edge in the breadth and quality of its research offerings.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| 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 evaluating educational resources for beginners, both FOREX.com and IC Markets provide an impressive range of options. Each platform boasts over ten educational materials, including articles, videos, and webinars, focused on forex and CFDs. Both brokers also offer live webinars at least once a month and maintain a searchable archive of past webinar recordings. This makes it easy for newcomers to access learning content anytime. For those just starting their trading journey, FOREX.com and IC Markets cater specifically to beginners with at least ten educational videos designed to simplify complex trading concepts. Additionally, both brokers help demystify investing terminology by offering an investor dictionary with explanations for over 50 common terms.
In the educational realm, FOREX.com slightly edges ahead with a higher rating of 4.5 stars compared to IC Markets' 4 stars. This difference is reflected in their respective rankings; FOREX.com holds the fourth spot in the Education category according to ForexBrokers.com, while IC Markets ranks sixteenth. Though both are rich in content for beginners and experienced traders alike, FOREX.com’s slightly higher educational rating and ranking may offer more appeal to those looking for a richer knowledge base as they start their trading journey.
| Feature |
FOREX.com
|
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 FOREX.com is better than IC Markets. FOREX.com finished with an overall rank of #5, while IC Markets finished with an overall rank of #20.
FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms – alongside limited access to MetaTrader.
| Feature |
FOREX.com
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Both FOREX.com and IC Markets do not offer the ability to buy actual (delivered) cryptocurrency, but they both provide options to purchase cryptocurrency derivatives instead.
Compare the deposit and withdrawal options at online brokers FOREX.com and IC Markets: FOREX.com supports ACH, SEPA, PayPal, Visa/Mastercard, and bank wires, but not Skrill, while IC Markets offers PayPal, Visa/Mastercard, Skrill, and bank wires, but lacks ACH and SEPA 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 | FOREX.com | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | IC Markets Review |
| Broker Screenshots | FOREX.com | IC Markets | |
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| Regulation | FOREX.com | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1999 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | FOREX.com | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FOREX.com | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FOREX.com | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 3583 | |
| Forex Pairs (Total) | 80 | 61 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | No | 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 | FOREX.com | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.9 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FOREX.com | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $100 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FOREX.com | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | FOREX.com | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 20 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FOREX.com | 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 | 88 | 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 | FOREX.com | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FOREX.com | 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 | FOREX.com | 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 | FOREX.com Review | IC Markets Review |
| Overall | FOREX.com | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | FOREX.com Review | IC Markets Review |
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