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FXCM vs IC Markets 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is FXCM better than IC Markets? In our analysis of 23 international regulators across 62 of the best forex brokers, FXCM is considered low-risk, with an overall Trust Score of 96 out of 99. IC Markets is considered average-risk, with an overall Trust Score of 86 out of 99. Learn more about Trust Score.

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Overall RatingFXCMIC Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 5/5 Stars
Offering of Investments 3.5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 96 86
Winner check_circle
Review FXCM Review IC Markets Review
RegulationFXCMIC Markets
Trust Score 96 86
Year Founded 1999 2007
Publicly Traded (Listed) Yes No
Bank No No
Authorised in European Union Yes info No info
Tier-1 Licenses 3 1
Tier-2 Licenses 3 1
Tier-3 Licenses 0 1
Tier-1 Licenses (High Trust)FXCMIC Markets
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) Yes No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) Yes No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) No No
Tier-2 Licenses (Average Trust)FXCMIC Markets
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) Yes Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) Yes No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) Yes No
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)FXCMIC Markets
SCB Authorised (Bahamas) No Yes
IFSC Authorised (Belize) No No
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) No No
InvestmentsFXCMIC Markets
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 440 3583
Forex Pairs (Total) 41 61
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes Yes
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) 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).
CostFXCMIC Markets
Average Spread EUR/USD - Standard 1.38 info 0.62 info
All-in Cost EUR/USD - Active 1.38 info 0.62 info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes Yes
Execution: Market Maker Yes Yes
FundingFXCMIC Markets
Minimum Deposit Starts from $50 $200
PayPal (Deposit/Withdraw) Yes Yes
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsFXCMIC 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 info Yes
Trading ToolsFXCMIC Markets
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes Yes
Watchlists - Total Fields 13 7
Charting - Indicators / Studies (Total) 59 30
Charting - Drawing Tools (Total) 10 15
Charting - Trade From Chart Yes Yes
Charts can be saved Yes Yes
Mobile TradingFXCMIC Markets
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes Yes
Mobile Watchlist Yes Yes
Watchlist Syncing Yes No
Mobile Charting - Indicators / Studies 59 30
Mobile Charting - Draw Trendlines Yes Yes
Mobile Charting - Multiple Time Frames Yes Yes
Mobile Charting - Drawings Autosave Yes No
Forex Calendar Yes Yes
ResearchFXCMIC Markets
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist Yes Yes
Trading Central (Recognia) Yes Yes
Social Sentiment - Currency Pairs Yes Yes
Economic Calendar Yes Yes
EducationFXCMIC Markets
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Videos - Beginner Trading Videos Yes No
Videos - Advanced Trading Videos Yes No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsFXCMIC 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 Yes
Review FXCM Review IC Markets Review
OverallFXCMIC Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4/5 Stars 5/5 Stars
Offering of Investments 3.5/5 Stars 4.5/5 Stars
Platform & Tools 5/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score 96 86
Winner check_circle
Review FXCM Review IC Markets Review
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FXCM vs IC Markets Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 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 23 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. Both FXCM and IC Markets offer MetaTrader 4 (MT4).FXCM and IC Markets both offer copy trading.

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 41 available pairs. Forex pairs aside, IC Markets offers traders access to 3583 CFDs while FXCM has 440 available CFDs, a difference of 3143.

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?

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.

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.

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