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Home ‣ Compare ‣ IC Markets vs FXOpen 2025

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 info 0.62 info N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Active Trader or VIP Discounts info Yes Yes
ACH or SEPA Transfers info No No
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

IC Markets vs FXOpen: For range of investments, IC Markets lists 3,583 tradeable symbols and 61 forex pairs, while FXOpen offers 87 symbols and 25 forex pairs. Both support forex trading via CFDs/spot, provide copy trading, and let you trade cryptocurrency derivatives, but neither lets you buy actual crypto. Neither broker offers U.S.-listed stocks as exchange-traded (non-CFD) shares; IC Markets does offer some international exchange-traded shares, whereas FXOpen does not.

Scores and rankings: For Range of Investments, IC Markets earns 4.5/5 stars and ranks #26 out of 63 brokers on ForexBrokers.com; FXOpen earns 3/5 stars and ranks #63 out of 63. In short, IC Markets delivers access to many more markets and some international shares, appealing to traders who want breadth, while FXOpen focuses on core forex and a smaller set of CFDs for a simpler lineup.

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. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) 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 check the key boxes for trading platforms and tools. Each offers a free demo (paper) account, Windows desktop and web-based platforms, and the popular MetaTrader 4 and MetaTrader 5. Neither broker has its own in-house platform. Copy trading is available at both, including ZuluTrade support (but not DupliTrade). Charting is practical on each: you can place trades directly from charts, use 15 drawing tools, and build watchlists with seven columns. Both provide a useful range of technical indicators, which can vary by platform.

For overall quality, both earn 4 stars for Trading Platforms and Tools from ForexBrokers.com. That said, IC Markets ranks higher in this category (#16 of 63) than FXOpen (#54 of 63). If you want the same core MetaTrader experience with copy trading and browser/desktop access, either broker fits the bill; if third-party rankings influence your choice, IC Markets has the edge in this comparison.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Virtual Trading (Demo) info Yes Yes
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
DupliTrade info No No
ZuluTrade info Yes Yes
Charting - Indicators / Studies (Total) info 30 30
Charting - Drawing Tools (Total) info 15 15
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 7 7

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

Forex trading apps

Comparing IC Markets vs FXOpen for mobile trading, both brokers cover the essentials on iPhone and Android. Each app supports price alerts, real-time quote watchlists, 30 technical indicators, drawing tools like trendlines, and multiple chart time frames from intraday to weekly. A shared limitation is that neither app syncs watchlists with the web platform, so edits made in one place won’t automatically appear in the other.

The standout difference is chart annotation behavior: IC Markets auto-saves your drawings, while FXOpen does not. Although both earn 4 out of 5 stars for mobile apps, IC Markets holds a stronger position in independent rankings, placed 22nd out of 63 brokers by ForexBrokers.com, compared with FXOpen at 55th. If you want saved chart work and a higher-ranked experience, IC Markets has the edge; for straightforward mobile trading with alerts and useful charting tools, either app fits the bill.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes No
Mobile Watchlist info Yes Yes

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 info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info Yes No
Social Sentiment - Currency Pairs info Yes No
TipRanks info No
Signal Centre (Acuity Trading) info No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

Comparing IC Markets vs FXOpen for beginner education, IC Markets clearly offers more ways to learn. IC Markets provides a full library of 10+ forex and CFD pieces, plus monthly live webinars and a searchable archive of past sessions. It also features 10+ beginner video lessons and a separate set of 10+ advanced videos for when you’re ready to level up. FXOpen does not meet the 10-piece education threshold, does not run monthly educational webinars, and has no archive of recordings. Both brokers include an investor dictionary with 50+ terms, which is helpful for quick definitions.

These differences show up in independent scores: IC Markets earns 4 stars for Education and ranks 16th out of 63 brokers at ForexBrokers.com, while FXOpen earns 3 stars and ranks 59th. If you want structured learning with videos, live classes, and recordings, IC Markets is the stronger choice. If you only need a basic glossary, FXOpen can cover that, but its overall beginner education is far more limited.

Feature IC Markets logoIC Markets
FXOpen logoFXOpen
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes

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?

Both IC Markets and FXOpen do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to trade cryptocurrency derivatives.

What funding options does each broker offer?

While both IC Markets and FXOpen do not support ACH or SEPA transfers, IC Markets offers PayPal for transactions while FXOpen does not, with both brokers providing options for Skrill, Visa or Mastercard, and bank wires for depositing and withdrawing account funds.

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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/Central Bank 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. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) 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 info 0.62 info N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No Yes
Execution: Agency Broker info Yes Yes
Execution: Market Maker info Yes Yes
Funding IC Markets FXOpen
Minimum Deposit info $200 $100
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info No No
Trading Platforms IC Markets FXOpen
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info Yes No
DupliTrade info No No
ZuluTrade info Yes Yes
Trading Tools IC Markets FXOpen
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 30 30
Charting - Drawing Tools (Total) info 15 15
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 Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes No
Mobile Economic Calendar info Yes Yes
Research IC Markets FXOpen
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info Yes No
TipRanks info No
Social Sentiment - Currency Pairs info Yes No
Economic Calendar info Yes Yes
Education IC Markets FXOpen
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs IC Markets FXOpen
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
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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