Written by ForexBrokers.com
In this head to head comparison of FXCM vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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.
FXCM, established in 1999, is a publicly traded online broker that holds four Tier-1 licenses and two Tier-2 licenses, both signaling high levels of trust in the financial industry. With a ForexBrokers.com Trust Score of 95 out of 99, FXCM is regarded as highly trusted. Despite not being a bank, its public listing adds an extra layer of transparency and accountability for traders.
IC Markets, founded in 2007, operates privately and is not listed on any stock exchange. Holding two Tier-1 licenses, it possesses a solid foundation of trust, albeit with a ForexBrokers.com Trust Score of 84, indicating a reliable reputation. However, without any Tier-2 licenses, IC Markets offers a slightly different regulatory profile compared to FXCM. Like FXCM, IC Markets is not a bank, but it stands strong with a trusted status in the industry.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Year Founded | 1999 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing online brokers FXCM and IC Markets in terms of commissions and fees, there are some notable differences. FXCM's pricing for forex trading tends to be slightly above the industry average. Its standard account spreads averaged 0.78 pips for its offerings in the EU, U.K., and Australia, while for its St. Vincent and the Grenadines entity, the average spread was 1.38 pips. Commission-based accounts showed an average spread of 0.28 pips, although the effective spread rises to approximately 0.74 pips when factoring in commission costs. FXCM offers an Active Trader Rebate Program with various tiers that deliver rebates based on trading volume, yet FXCM's pricing is outdone by other brokers such as Tickmill and FP Markets. FXCM receives a 4-star rating and is ranked #25 out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com.
IC Markets, on the other hand, is recognized for its competitive trading costs and is awarded "Best in Class" honors in the Commissions & Fees category. With a 5-star rating and a #5 ranking out of 63 brokers by ForexBrokers.com, IC Markets is lauded for its commission-based accounts that feature low trading costs. IC Markets offers three account types: a commission-free Standard account and two commission-based Raw Spread accounts linked to either cTrader or MetaTrader platforms. The cTrader Raw Spread account charges a lower commission at $3.0 per side for every 100,000 units compared to $3.5 per side with MetaTrader. IC Markets achieves effective spreads as low as 0.62 pips for the cTrader account after including the commission, making it a strong contender among low-cost forex brokers.
Both FXCM and IC Markets cater to active traders, but IC Markets edges out its competitor with lower overall trading costs and a more favorable ranking. While FXCM provides active trader discounts, IC Markets extends more competitive pricing benefits and is a preferred choice for traders seeking lower spreads and fees. IC Markets' varied account options and cost-efficient trading position it as a leading broker for those prioritizing flexible, cost-effective forex trading.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $200 |
| Average spread (EUR/USD) - Standard account | 0.9 | 0.62 |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, IC Markets offers a larger menu than FXCM. IC Markets lists 3,583 tradeable symbols and 61 forex pairs, while FXCM provides 440 symbols and 46 pairs. Both brokers let you trade forex as CFDs or spot, and both support copy trading. Neither broker lets you buy real (delivered) cryptocurrency, but each offers cryptocurrency CFDs for speculative trading without owning the coins.
For exchange-traded securities, FXCM does not offer shares on U.S. or international exchanges. IC Markets does not support U.S.-listed shares either, but it does offer exchange-traded securities on international exchanges. Reflecting this coverage, FXCM earns 3.5 out of 5 stars for Range of Investments and ranks 48th out of 63 brokers, while IC Markets scores 4.5 out of 5 stars and ranks 26th out of 63.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 3583 |
| Forex Pairs (Total) | 46 | 61 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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). | 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.
Comparing FXCM vs IC Markets for trading platforms and tools: both brokers offer free demo (paper) accounts, copy trading, and the ability to place trades directly from charts. Each provides a Windows desktop download and a web-based platform. FXCM adds its own proprietary platform alongside MetaTrader 4 (MT4), while IC Markets focuses on third-party platforms, offering both MT4 and MetaTrader 5 (MT5). Note that FXCM does not support MT5.
For platform quality, ForexBrokers.com rates FXCM at 5 stars and ranks it #6 out of 63 brokers, while IC Markets earns 4 stars and ranks #16. Exact counts for built-in technical indicators and watchlist columns aren’t specified here, but both brokers cover the key needs for chart-based trading and everyday platform use.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing FXCM vs IC Markets for mobile trading, both offer iPhone and Android apps with price alerts, trendline drawing, and auto‑saved chart annotations. The biggest differences are in charting depth and watchlists: FXCM includes 59 technical studies and syncs watchlists with your online account so changes carry across devices, while IC Markets offers 30 technical studies and does not support watchlist syncing between mobile and web.
For ratings, FXCM’s mobile app scores 4.5 out of 5 stars and ranks #16 out of 63 brokers at ForexBrokers.com. IC Markets earns 4 stars and ranks #22. Choose FXCM if you want more indicators and seamless watchlist syncing; pick IC Markets if you mainly need alerts and drawing tools in a straightforward mobile app.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of FXCM and IC Markets, both brokers provide daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. They also offer sentiment-based trading tools, which help traders see the ratio of long or short positions across different instruments. FXCM and IC Markets both feature technical analysis tools from Trading Central, as well as comprehensive economic calendars that display global news events. However, FXCM stands out with its market research from TipRanks, a service not available with IC Markets.
In the realm of technical analysis, IC Markets edges ahead by offering tools from Autochartist, which are not available with FXCM. Despite this, FXCM ranks higher with a research rating of 4.5 stars compared to IC Markets' 4 stars. According to ForexBrokers.com, FXCM is ranked 11th among 63 brokers for research, while IC Markets holds the 23rd spot. Both brokers offer valuable resources, but FXCM may appeal to traders who prioritize a higher-rated research package.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FXCM and IC Markets both deliver beginner-friendly forex and CFD education. Each broker runs ongoing client webinars at least once a month and offers a rich library of videos, including 10+ lessons made for newcomers and 10+ advanced videos for when you’re ready to level up. Between their articles, videos, and archived webinars, both brokers easily clear the bar of 10 educational pieces, making it simple to learn trading basics and build skills over time.
For education quality, FXCM has a slight edge: it’s rated 4.5 out of 5 stars and ranks #14 out of 63 brokers on ForexBrokers.com, while IC Markets earns 4 stars and ranks #16. If you want the strongest overall learning experience, FXCM may be the better pick, but IC Markets remains a good choice with plenty of beginner content and regular webinars.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FXCM is better than IC Markets. FXCM finished with an overall rank of #15, while IC Markets finished with an overall rank of #20.
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.
| Feature |
FXCM
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IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 84 |
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FXCM vs IC Markets: neither broker offers the ability to buy actual (delivered) cryptocurrency, but both support trading cryptocurrency CFDs (not the underlying asset).
FXCM vs IC Markets: For deposit and withdrawal methods, FXCM supports ACH/SEPA while IC Markets does not, both brokers accept PayPal, Skrill, and bank wire transfers, and Visa/Mastercard availability is not specified for either.
Please note:
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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0 of 5| Overall Rating | FXCM | IC Markets | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | FXCM Review | IC Markets Review |
| Broker Screenshots | FXCM | IC Markets | |
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| Regulation | FXCM | IC Markets | |
|---|---|---|---|
| Trust Score | 95 | 84 | |
| Year Founded | 1999 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | FXCM | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 3583 | |
| Forex Pairs (Total) | 46 | 61 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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). | 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 | FXCM | IC Markets | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.9 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.8 | 0.62 | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | FXCM | IC Markets | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | No |
| Trading Platforms | FXCM | IC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes |
| Trading Tools | FXCM | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | FXCM | IC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | IC Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | FXCM | IC Markets | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | FXCM Review | IC Markets Review |
| Overall | FXCM | IC Markets | |
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| Trust Score | 95 | 84 | |
| Winner | check_circle | ||
| Review | FXCM Review | IC Markets Review |
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