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 vs IC Markets: FXCM was founded in 1999 and is publicly traded, while IC Markets began in 2007 and is not publicly traded. Neither broker is a bank. According to ForexBrokers.com, FXCM has a Trust Score of 95/99 (highly trusted), and IC Markets scores 83/99 (trusted), based on a scale where 90–99 is highly trusted and 80–89 is trusted.
Regulation and licenses: FXCM holds 4 Tier-1 licenses and 2 Tier-2 licenses, compared to IC Markets with 2 Tier-1 licenses and no Tier-2 licenses. Tier-1 regulators are considered highly trusted and Tier-2 trusted by ForexBrokers.com, indicating FXCM has broader top-tier oversight than IC Markets.
| 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 it comes to commissions and fees, IC Markets has the edge over FXCM for most traders. IC Markets offers very low all-in trading costs, especially on its Raw Spread and cTrader Raw Spread accounts, and it also has a commission-free Standard account for those who prefer simpler pricing. FXCM’s forex pricing is a bit higher than the industry average overall, although its commission-based accounts can still be competitive, especially for active traders who qualify for volume-based rebates.
FXCM is rated 4.5 out of 5 stars and ranks #17 out of 36 brokers for Commissions and Fees at ForexBrokers.com. IC Markets is rated 5 out of 5 stars and ranks #5 out of 36 brokers. FXCM’s average EUR/USD spread on its main entities was around 0.78 pips in May 2024, while its commission-based pricing worked out to about 0.74 pips after commissions. IC Markets, by comparison, posted very tight pricing, with an estimated all-in cost of about 0.62 pips on cTrader and 0.72 pips on MetaTrader for its raw spread accounts.
In simple terms, FXCM may suit traders who want rebate programs and can meet higher monthly volume requirements, but its fees are generally not the cheapest. IC Markets is the stronger pick for cost-conscious forex traders thanks to its lower spreads, clear commission structure, and better overall value.
| 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 give traders access to forex as CFDs or spot contracts, and both also support copy trading and cryptocurrency CFDs. Neither broker offers exchange-traded shares on U.S. or international exchanges, and neither lets clients buy actual, delivered cryptocurrency. In other words, each focuses more on trading products than on traditional stock investing.
Where they differ most is the size of their product selection. FXCM offers 440 tradeable symbols and 46 forex pairs, while IC Markets provides a much wider list with 7,435 tradeable symbols and 61 forex pairs. Even so, both brokers are rated 4.5 out of 5 stars for range of investments, with FXCM ranked #21 and IC Markets ranked #22 out of 36 brokers by ForexBrokers.com.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 7435 |
| Forex Pairs (Total) | 46 | 61 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | No | No |
| 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 give traders a strong mix of platform choices and useful tools. Each broker offers a free demo account, desktop and web-based trading, copy trading, MetaTrader 4, and the ability to trade right from a chart. FXCM also stands out with its own in-house platform, while IC Markets does not offer a proprietary platform. For traders who want MetaTrader 5, IC Markets has it, but FXCM does not.
When it comes to overall platform quality, FXCM has the edge. ForexBrokers.com rates FXCM 5 out of 5 stars for Trading Platforms and Tools and ranks it #4 out of 36 brokers, compared with IC Markets at 4 out of 5 stars and #17. In simple terms, both brokers cover the basics well, but FXCM offers a slightly better all-around platform experience, while IC Markets may appeal more to traders who want MT5 alongside the other standard trading features.
| 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 | 32 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FXCM and IC Markets both make it easy to trade on the go, since each broker offers iPhone and Android apps, plus price alerts and the ability to draw trendlines on charts. Both apps also save drawings automatically, which helps traders pick up where they left off. For everyday mobile trading, either platform covers the basics well.
FXCM has the edge for mobile trading tools and convenience. Its app includes watchlist symbol syncing, so changes made on your phone or online account stay in sync, while IC Markets does not offer this feature. FXCM also provides more chart studies, with 59 technical indicators compared with IC Markets’ 30. That extra functionality is reflected in ratings too: FXCM scores 4.5 out of 5 stars and ranks #16 out of 36 brokers for mobile trading apps, while IC Markets scores 4 stars and ranks #22.
| 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 give traders a wide set of market research tools. Each broker offers daily market commentary, forex news from top names like Bloomberg, Reuters, or Dow Jones, a Trading Central tool, sentiment data showing long and short positions, TipRanks research, and an economic calendar for global events. Neither broker includes Autochartist or Acuity Trading tools, so their research lineups are very similar at a glance.
Where FXCM pulls ahead is in its research rating and ranking. FXCM scores 4.5 out of 5 for Research and ranks #11 out of 36 brokers, while IC Markets scores 4 out of 5 and ranks #21. For traders who want a slightly stronger research package, FXCM has the edge, though IC Markets still offers many of the same useful market insights.
| Feature |
FXCM
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central | Yes | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to learning resources for beginners, both FXCM and IC Markets offer a strong starting point. Each broker provides well over 10 forex or CFD education pieces, hosts online educational webinars at least once a month, and has at least 10 beginner-friendly videos, along with a wide range of advanced videos for traders who want to keep learning. That means new traders can find basic lessons, live sessions, and more in-depth material with either platform.
FXCM has a slight edge overall for education. It earns 4.5 out of 5 stars and ranks #13 out of 36 brokers for the Education category at ForexBrokers.com, while IC Markets is rated 4 out of 5 stars and ranks #16. For beginners comparing the two, both are good choices for getting started, but FXCM appears to offer a little more value in its educational content.
| 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 | 83 |
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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 | 83 | |
| 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 | 83 | |
| 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 CMA 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 | 7435 | |
| Forex Pairs (Total) | 46 | 61 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | No | No | |
| 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 | Yes | |
| 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 | 32 | |
| 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 | No | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | Yes | |
| 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 | 83 | |
| Winner | check_circle | ||
| Review | FXCM Review | IC Markets Review |
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