To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare FXCM vs IC Markets.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. Both FXCM and IC Markets share a rating of 4.00 stars.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. FXCM alongside IC Markets are regulated in a major hub. FXCM is a publicly traded company, IC Markets isn't. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. IC Markets offers its clients access to 63 different currency pairs while FXCM has 39 available pairs, a difference of 24.
To round out our comparison of FXCM vs IC Markets, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. Both FXCM and IC Markets offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. FXCM and IC Markets offer the same number of charting tools, 31. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, FXCM takes the upper hand with 4.50 stars over IC Markets's 4.00 stars. And, when it comes to individual category awards, FXCM finished with awards Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while IC Markets came up with none of these.