ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

FXCM vs IC Markets 2021

Is FXCM better than IC Markets? In our analysis of 23 international regulators across 50 brokers, FXCM is considered low-risk, with an overall Trust Score of 93 out of 99. IC Markets is considered average-risk, with an overall Trust Score of 85 out of 99. Learn more about Trust Score.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature FXCM IC Markets
Overall 4 4
Commissions & Fees 3.5 4.5
Offering of Investments 4 3.5
Platforms & Tools 4.5 4
Mobile Trading 4 4
Research 4 3.5
Education 4 3.5
Trust Score 93 85
FXCM Review IC Markets Review
Between 70% of retail CFD accounts lose money 74-89% of retail CFD accounts lose money

Regulation

Feature FXCM IC Markets
Trust Score 93 85
Year Founded
1999 2007
Publicly Traded (Listed)
Yes No
Bank
No No
Tier-1 Licenses
3 1
Tier-2 Licenses
3 1
Tier-3 Licenses
0 1
Authorised in the European Union
Yes No

Tier-1 Licenses (High Trust)

Feature FXCM IC Markets
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
No No
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes No
CFTC Registered (USA)
No No

Tier-2 Licenses (Average Trust)

Feature FXCM IC Markets
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
Yes Yes
CBI Authorised (Ireland)
No No
ISA Authorised (Israel)
Yes No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
Yes No
SEC Authorised (Thailand)
No No

Tier-3 Licenses (Low Trust)

Feature FXCM IC Markets
SCB Authorised (Bahamas) No Yes
IFSC Authorised (Belize) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No

Investments

Feature FXCM IC Markets
Forex Trading
Yes Yes
CFD Trading
Yes Yes
Tradeable Symbols (Total)
276 3583
Forex Pairs (Total)
42 61
US Stock Trading (Non CFD)
Yes No
Int'l Stock Trading (Non CFD)
Yes No
Cryptocurrency (Physical)
No No
Cryptocurrency (CFD)
Yes Yes
Social Trading / Copy-Trading
Yes Yes

Cost

Feature FXCM IC Markets
Average Spread EUR/USD - Standard
1.4 (Q2 2020) 0.62 (August 2021)
All-in Cost EUR/USD - Active
1.1 (Q2 2020) 0.8 (August 2021)
Active Trader or VIP Discounts
Yes Yes
Execution: Agency Broker
Yes Yes
Execution: Market Maker
Yes Yes

Funding

Feature FXCM IC Markets
Minimum Deposit
Starts from $50 $200
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
Yes Yes

Trading Platforms

Feature FXCM IC Markets
Proprietary Platform
Yes No
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes Yes
MetaTrader 5 (MT5)
No Yes
cTrader
No Yes
DupliTrade
No No
ZuluTrade
Yes Yes

Trading Tools

Feature FXCM IC Markets
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
12 (Default MT4/MT5/cTrader)
Charting - Indicators / Studies (Total)
57 (Default MT4/MT5/cTrader)
Charting - Drawing Tools (Total)
26 (Default MT4/MT5/cTrader)
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature FXCM IC Markets
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
59 (default MT4/MT5/cTrader)
Charting - Draw Trendlines
Yes Yes
Charting - Trendlines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No

Research

Feature FXCM IC Markets
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
Autochartist
Yes Yes
Trading Central (Recognia)
Yes Yes
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature FXCM IC Markets
Has Education - Forex or CFDs
Yes Yes
Client Webinars
Yes No
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes No
Investor Dictionary (Glossary)
Yes Yes

Major Forex Pairs

Feature FXCM 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 No

Overall

Feature FXCM IC Markets
Overall 4 4
Commissions & Fees 3.5 4.5
Offering of Investments 4 3.5
Platforms & Tools 4.5 4
Mobile Trading 4 4
Research 4 3.5
Education 4 3.5
Trust Score 93 85
FXCM Review IC Markets Review

Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare FXCM vs IC Markets.

Does FXCM or IC Markets offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IC Markets offers better pricing overall for traders.

Is FXCM or IC Markets safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. FXCM holds 3 global Tier-1 licenses, while IC Markets holds 1. FXCM holds 3 global Tier-2 licenses, while IC Markets holds 1. In our analysis of 23 international regulators across 50 brokers, FXCM earned a higher Trust Score than IC Markets.

Which trading platform is better: FXCM or IC Markets?
To compare the trading platforms of both FXCM and IC Markets, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FXCM offers a better experience. With research, FXCM offers superior market research. Finally, we found FXCM to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. FXCM and IC Markets both offer copy trading. Both FXCM and IC Markets offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
IC Markets provides traders 61 currency pairs (e.g., EUR/USD) compared to FXCM's 42 available pairs. Forex pairs aside, IC Markets offers traders access to 3583 CFDs while FXCM has 276 available CFDs, a difference of 3,307.

Can I trust FXCM?
FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).

Can I trust IC Markets?
IC Markets is not publicly traded and does not operate a bank. IC Markets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). IC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).

Is FXCM good?
While the range of tradeable markets is narrow and pricing is just average, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a winner.

Is IC Markets good?
IC Markets caters exceptionally-well to algorithmic traders through its commission-based accounts. That said, the range of markets, and research materials offered by IC Markets are not as impressive.

Overall winner: FXCM

Read Next: Best Forex Brokers 2021


Related Comparisons

Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

Reink Media Group (Ireland) ltd is acting in a capacity of a marketing affiliate of FXCM EU LTD.

arrow_drop_upBack to top