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 |
Comparing commissions and fees, IC Markets generally comes out cheaper than FXCM, especially on its commission-based “Raw” accounts. IC Markets earned 5 stars and ranks #5 out of 63 brokers for Commissions & Fees, while FXCM earned 4 stars and ranks #17. Both offer ways to reduce costs for high-volume traders, but IC Markets’ effective spreads tend to be lower overall.
FXCM’s pricing is slightly higher than the industry average on standard (spread-only) accounts. In May 2024, average EUR/USD spreads were about 0.78 pips for its EU, U.K., and Australia offerings, and about 1.38 pips with its St. Vincent and the Grenadines entity. FXCM’s commission-based accounts showed a 0.28-pip core spread (excluding commissions), with an effective cost closer to 0.74 pips once commission is included. Its Active Trader Rebate Program offers $5–$25 per million traded (availability varies by country). For example, in the U.K., a $25,000 balance and $50 million in monthly volume can bring the commission to $2.50 per side ($5 round-turn). Note: spreads can widen during rollover or volatile markets.
IC Markets offers three accounts: Standard (spread-only) and two Raw Spread options (MetaTrader or cTrader). The cTrader Raw account charges $3.00 per side ($6 round-turn) per standard lot; the MetaTrader Raw account is $3.50 per side ($7 round-turn). IC Markets lists an average EUR/USD spread of 0.02 pips (Aug 2022); adding commission puts the all-in cost near 0.62 pips on cTrader (about 0.72 on MetaTrader). The Standard account averages about 0.62 pips with no commission. Active traders (100+ lots/month) can get further discounts. Bottom line: IC Markets typically delivers lower all-in trading costs than FXCM.
| 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.
FXCM and IC Markets both let you trade forex as CFDs or spot contracts. IC Markets offers a much larger menu of tradeable symbols (3,583 vs 440) and more forex pairs (61 vs 46). Neither broker lets you buy U.S.-listed shares directly, but IC Markets does provide access to exchange-traded shares on certain international markets (not CFDs), which FXCM does not. Both support copy trading. For crypto, neither broker offers real coins, but each provides cryptocurrency CFDs.
For range of investments, ForexBrokers.com rates IC Markets at 4.5 stars and FXCM at 3.5 stars. That said, FXCM ranks slightly higher at #21 out of 63 brokers, with IC Markets at #22. If you want the widest list of instruments and currency pairs, IC Markets has the edge; if you’re comparing overall standings in this category, they are very close.
| 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.
FXCM and IC Markets both offer free demo accounts for paper trading, plus desktop (Windows) and web platforms. FXCM also provides its own in-house platform, while IC Markets does not. Both support MetaTrader 4 and copy trading; only IC Markets adds MetaTrader 5. Each broker lets you place trades directly from charts, with access to a range of indicators and customizable watchlists.
For Trading Platforms and Tools, ForexBrokers.com rates FXCM at 5 stars and ranks it #4 out of 63 brokers, while IC Markets earns 4 stars and ranks #17. If you want an in-house platform alongside MT4 and chart trading, FXCM is a strong fit; if MT5 is a priority and you prefer third-party platforms, IC Markets stands out. Both deliver web and desktop access along with a free demo to practice.
| 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.
FXCM and IC Markets both check the key boxes for market research. Each offers daily market commentary, forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, Trading Central tools, sentiment gauges that show long vs. short positioning, and an economic calendar. Neither broker includes Acuity Trading’s Signal Centre. The main differences are in extras: IC Markets provides Autochartist for chart pattern ideas, while FXCM does not; FXCM integrates TipRanks research, which IC Markets doesn’t offer.
On quality scores, FXCM comes out ahead with a 4.5/5 Research rating and a #11 placement out of 63 brokers at ForexBrokers.com. IC Markets holds a 4/5 rating and ranks #21. Consider FXCM if TipRanks and broad built-in research matter most, or choose IC Markets if Autochartist’s pattern recognition is a priority.
| 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 provide forex and CFD education that meets a high standard, with 10 or more learning pieces such as articles, videos, and archived webinars. Each broker also runs ongoing online educational webinars at least once a month. For new traders, both brokers offer 10+ beginner-friendly videos that explain core trading concepts, platform basics, and risk management in plain language.
As you progress, you’ll find more to learn at both brokers, with 10+ advanced videos available from each. If education quality is your deciding factor, FXCM holds a slight edge: it’s rated 4.5 out of 5 stars for Education and ranks #13 out of 63 brokers at ForexBrokers.com, compared with IC Markets at 4 stars and #16. In short, beginners will find solid education with both FXCM and IC Markets, with FXCM earning the higher marks overall.
| 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 #10, while IC Markets finished with an overall rank of #21.
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 (FSA 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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