Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare FOREX.com vs IC Markets.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. FOREX.com is a better option with a 4.50 star rating over IC Markets's 4.00 star rating.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. Both FOREX.com and IC Markets are regulated in a major hub. FOREX.com is a publicly traded company, IC Markets isn't. How many currency pairs are available to trade? IC Markets trails FOREX.com by 21 total currency pairs (for example, EUR/USD), with FOREX.com offering 84 and IC Markets offering 63.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. FOREX.com and IC Markets both offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. IC Markets boasts an offering of 31 charting tools compared to FOREX.com's 22 available charting tools. FOREX.com offers its clients access to 139 different indicators (for example, volume) while IC Markets has 51 available indicators, a difference of 88.
Overall, both FOREX.com and IC Markets hold a 4.00 star rating. And, when it comes to individual category awards, FOREX.com was rated Best in Class - Research and Best in Class - Mobile Trading in 2018, while IC Markets was rated none of these.