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IC Markets vs FXOpen 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of IC Markets vs FXOpen, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

IC Markets
4.5/5 Stars Overall
  • Minimum Deposit: $200
  • Trust Score: 84
  • Tradeable Symbols (Total): 3583
FXOpen
3.5/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 76
  • Tradeable Symbols (Total): 87

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.

Regulation

IC Markets and FXOpen are both established online brokers, with IC Markets founded in 2007 and FXOpen in 2003. Neither company is publicly traded nor operates as a bank. When it comes to regulatory standing, both brokers hold two Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com standards. This type of license is seen as highly trustworthy, ensuring a strong level of protection and oversight for traders choosing either broker.

In terms of Trust Scores, IC Markets has a rating of 84, classifying it as a trusted broker. FXOpen, on the other hand, holds a Trust Score of 76, placing it in the average risk category. Neither broker holds any Tier-2 licenses, which would otherwise add an additional layer of trust according to ForexBrokers.com’s rating system. Ultimately, both brokers offer competitive trustworthiness and regulation, helping traders make informed decisions based on what level of regulatory assurance they prefer.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Year Founded info 2007 2003
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 2 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 0

Fees

When comparing IC Markets with FXOpen in terms of commissions and fees, IC Markets stands out with its competitive trading costs. Known for having some of the lowest effective spreads and a minimal deposit requirement, IC Markets rivals top low-cost forex brokers like IG and CMC Markets. IC Markets offers three account types, including a commission-free Standard account with spreads only, and two commission-based accounts—Raw Spread and cTrader Raw Spread—which boast nearly identical commission structures. The cTrader account, however, offers a slightly lower commission rate of $3.0 per side for every 100,000 units traded, compared to $3.5 per side for the MetaTrader Raw Spread accounts. This competitive structure has earned IC Markets a five-star rating and the #5 spot in the Commissions & Fees category among 63 brokers.

FXOpen, in contrast, provides a solid yet less competitive structure in the commissions and fees department, earning a four-star rating and ranking #45 out of 63 brokers. While specific average spread data for FXOpen is not readily available, its overall rating reflects moderate appeal compared to IC Markets. They do provide some viable options for traders, but they don't quite measure up to the enticing pricing structures seen with IC Markets.

Ultimately, IC Markets emerges as a strong contender for traders focused on minimizing trading costs with its low commissions and effective spreads. While FXOpen offers standard market rates, IC Markets provides a more attractive proposition for both new traders and active traders looking for significant discounts, further enhancing its appeal in the competitive landscape of online brokerages.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Minimum Deposit info $200 $100
Average spread (EUR/USD) - Standard account info 0.62 info N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Non-wire bank transfer info No No
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

IC Markets vs FXOpen: both brokers let you trade forex either as CFDs or at spot pricing, and both support copy trading. You can also trade cryptocurrency via CFDs at either broker (but not buy actual crypto). The big difference is choice. IC Markets lists 3,583 tradeable symbols and 61 forex pairs, while FXOpen offers 87 symbols and 25 forex pairs. IC Markets also provides access to some international exchange‑traded shares (not CFDs), whereas FXOpen does not; neither broker offers U.S.-listed shares for direct share dealing.

Reflecting this wider selection, IC Markets earns 4.5 out of 5 stars for Range of Investments and ranks #26 out of 63 brokers at ForexBrokers.com. FXOpen scores 3 out of 5 stars and ranks #63 out of 63. If you want the broadest set of markets to trade, IC Markets has the edge; if you need a smaller lineup, FXOpen may still cover the essentials.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 3583 87
Forex Pairs (Total) info 61 25
U.S. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

IC Markets and FXOpen both center their platforms around MetaTrader, rather than building their own software. Each broker supports MT4 and MT5 with Windows desktop downloads and web-based access. Both offer free demo (paper) accounts for practice, copy trading, and the ability to place orders directly from charts. You’ll find the familiar MetaTrader toolkit at either broker, including a wide selection of technical indicators and customizable watch lists.

While both brokers earn 4 out of 5 stars for Trading Platforms and Tools, their category rankings differ: IC Markets is #16 of 63 brokers on ForexBrokers.com, whereas FXOpen is #54. If you want the MetaTrader experience with copy trading and chart trading, both fit the bill; traders who value third‑party rankings may lean toward IC Markets for its higher placement.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Charting - Indicators / Studies (Total) info 30 30
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

IC Markets vs FXOpen: both brokers offer mobile trading apps for iPhone and Android, with price alerts, 30 technical indicators for charting, and the ability to draw trendlines. Neither app supports watchlist syncing between the mobile app and the online account. A key difference is chart annotations: IC Markets auto-saves your drawings, while FXOpen does not, which can matter if you frequently mark up charts on the go.

In terms of quality scores, both mobile apps earn 4 out of 5 stars. However, ForexBrokers.com ranks IC Markets higher at #22 out of 63 brokers, while FXOpen sits at #55. If you value saved chart work and a higher third-party ranking, IC Markets may be the better fit; if you just need iPhone/Android access with alerts and standard charting tools, either app will cover the basics.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes No

Dive deeper: Best Forex Trading Apps.

Market research

IC Markets and FXOpen both cover the basics for market research with daily commentary, premium forex news from sources like Bloomberg/Reuters/Dow Jones, and an economic calendar. Where they differ is in extra tools: IC Markets adds Autochartist, Trading Central analytics, and a sentiment tool showing long/short positioning across instruments—features FXOpen does not provide.

IC Markets does not offer research from TipRanks or Acuity Trading; for FXOpen, no information was provided about TipRanks or Acuity Trading. For research quality, IC Markets is rated 4 stars and ranks 23rd out of 63 brokers, while FXOpen is rated 3 stars and ranks 64th, according to ForexBrokers.com.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info Yes No
Client sentiment data info Yes No
TipRanks info No
Acuity Trading info No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

IC Markets vs FXOpen for beginner education: IC Markets delivers a stronger learning path for new traders. It runs client webinars at least once a month and offers 10+ beginner video lessons, along with 10+ advanced videos when you’re ready to level up. FXOpen does not host monthly educational webinars and does not meet the 10‑video threshold for either beginner or advanced topics. In third‑party reviews, IC Markets earned 4 out of 5 stars for Education and ranked #16 out of 63 brokers on ForexBrokers.com, while FXOpen received 3 out of 5 stars and ranked #59.

If you want live guidance and a larger video library to learn forex and CFD trading basics, IC Markets is the more complete choice for beginners. FXOpen may suit those who only need a lighter set of materials, but its smaller catalog and lack of recurring webinars can make it tougher for new traders to build skills over time.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than FXOpen. IC Markets finished with an overall rank of #20, while FXOpen finished with an overall rank of #54.

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 logoIC Markets
FXOpen logoFXOpen
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Trust Score info 84 76
Range of Investments 4.5/5 Stars 3/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 4/5 Stars 3/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Education 4/5 Stars 3/5 Stars

FAQs

Can you trade cryptocurrency with IC Markets or FXOpen?

IC Markets vs FXOpen: neither broker lets traders buy actual (delivered) cryptocurrencies, but both support cryptocurrency CFD trading.

What funding options does each broker offer?

IC Markets vs FXOpen: IC Markets supports PayPal, Skrill, and bank wire deposits and withdrawals but not ACH or SEPA transfers, while FXOpen also does not support ACH/SEPA; other FXOpen payment methods were not specified.

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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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Overall Rating IC Markets FXOpen
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 3/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 84 76
Winner check_circle
Review IC Markets Review
Broker Screenshots IC Markets FXOpen
Broker Gallery (click to expand) info
IC Markets cTrader mobile app charting IC Markets EU cTrader desktop trading platform layout IC Markets webinar IC Your Trade YouTube video series. IC Markets Educational content blog articles.
Regulation IC Markets FXOpen
Trust Score info 84 76
Year Founded info 2007 2003
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 2 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 0
Tier-1 Licenses (Highly Trusted) IC Markets FXOpen
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info No Yes
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) IC Markets FXOpen
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments IC Markets FXOpen
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 3583 87
Forex Pairs (Total) info 61 25
U.S. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info 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).
Cost IC Markets FXOpen
Average spread (EUR/USD) - Standard account info 0.62 info N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Inactivity Fee info No Yes
Order execution: Agency info Yes Yes
Order execution: Market Maker info Yes Yes
Funding IC Markets FXOpen
Minimum Deposit info $200 $100
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes
Non-wire bank transfer info No No
Trading Platforms IC Markets FXOpen
Proprietary Desktop Trading Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info Yes No
Trading Tools IC Markets FXOpen
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 30 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading IC Markets FXOpen
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes No
Mobile Research - Economic Calendar info Yes Yes
Research IC Markets FXOpen
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info Yes No
TipRanks info No
Client sentiment data info Yes No
Economic Calendar info Yes Yes
Education IC Markets FXOpen
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Major Forex Pairs IC Markets FXOpen
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review IC Markets Review
Overall IC Markets FXOpen
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 3/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 84 76
Winner check_circle
Review IC Markets Review
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