FXCM vs IC Markets Comparison
We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare FXCM vs IC Markets.
Can I trust FXCM?
FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by four Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXCM is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), and the European Union via MiFID.
Can I trust IC Markets?
IC Markets is not publicly traded and does not operate a bank. IC Markets is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulators (High Risk). IC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and European Union Authorized (MiFID).
Is FXCM good?
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
Is IC Markets good?
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.
What is the minimum deposit requirement for opening an account with FXCM?
To open a forex trading account with FXCM, you'll need to make an initial minimum deposit of Starts from $50.
What is the minimum deposit requirement for opening an account with IC Markets?
FXCM requires a minimum deposit of $200 before you can open an account and start trading forex.
What funding options does each broker offer?
It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both FXCM and IC Markets offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw)
Does FXCM or IC Markets offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that IC Markets offers better pricing overall for traders.
Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.
Is FXCM or IC Markets safer for forex and CFDs trading?
At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that FXCM holds 4 global Tier-1 licenses, while IC Markets holds 2. FXCM holds 2 global Tier-2 licenses, while IC Markets holds 0.
After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FXCM (95) earned a higher Trust Score than IC Markets (84).
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.
Here’s what trading platforms are available at FXCM:
- Proprietary Platform - Yes
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - Yes
- MT5 - No
- ZuluTrade - Yes
- TradingView - Yes
Here’s what trading platforms are available at IC Markets:
- Proprietary Platform - No
- Web Platform - Yes
- cTrader - Yes
- DupliTrade - No
- MT4 - Yes
- MT5 - Yes
- ZuluTrade - Yes
- TradingView - No
What about MetaTrader? How about copy trading?
The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. Both FXCM and IC Markets offer MetaTrader 4 (MT4). Forex traders also appreciate the ability to engage in social copy trading. FXCM and IC Markets both offer copy trading.
What can I trade with each broker?
IC Markets provides traders 61 currency pairs (e.g., EUR/USD) compared to FXCM's 41 available pairs. If you are interested in trading CFDs, IC Markets offers traders access to 3583 CFDs, while FXCM offers access to 440 CFDs; so IC Markets offers 3143 more CFDs than FXCM.
We found in our testing that IC Markets offers a more diverse selection of investment options than FXCM, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Cryptocurrency (Derivative), Social Trading / Copy Trading and Spread Betting. Neither have Int'l Stock Trading (Non CFD) and Cryptocurrency (Physical).
Overall winner: FXCM
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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.