Written by ForexBrokers.com
In this head to head comparison of IC Markets vs FXGT.com, 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.
When it comes to online brokerages, IC Markets and FXGT.com offer distinct options for traders. Founded in 2007, IC Markets is well established and holds two Tier-1 licenses, which are considered highly trusted by ForexBrokers.com. FXGT.com entered the scene more recently in 2019 and possesses one Tier-1 license along with one Tier-2 license, marking a contrast in their regulatory setup. Both brokers are private entities and not banks, emphasizing their specialized focus on trading services.
Trustworthiness is a crucial consideration for traders, and IC Markets scores 84 out of 99 on the ForexBrokers.com Trust Score, categorizing it as a trusted broker. In contrast, FXGT.com receives a score of 69, placing it in the high-risk category. This score indicates a notable difference in perceived reliability and security, with IC Markets offering a more reassuring option for those prioritizing trust.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Year Founded | 2007 | 2019 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
IC Markets is highly regarded for its competitive commissions and fees, placing it among the best low-cost forex brokers. With a 5-star rating in commissions and fees, IC Markets offers a variety of account options tailored to different trading needs, including the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader Raw Spread account has a slightly lower commission rate than the MetaTrader 4 or 5 Raw Spread accounts, offering a cost-effective solution with a commission of $3.0 per side per 100,000 units. This contributes to a total cost of 0.62 pips on EUR/USD for cTrader users, compared to 0.72 pips for MetaTrader users, making IC Markets a viable choice for cost-conscious traders.
Spreads at IC Markets depend on the trading platform, account type, and chosen entity, with their effective spreads being particularly competitive. The broker also offers discounts for active traders who execute over 100 standard lots monthly. IC Markets achieves a commendable rank of #5 out of 63 brokers according to ForexBrokers.com for its commissions and fees, demonstrating its strong position in the forex trading industry.
In comparison, FXGT.com has a lower reputation in terms of commissions and fees, reflected in its 3.5-star rating. The lack of average spread data and its ranking of #56 out of 63 brokers as per ForexBrokers.com suggest that FXGT.com may not be as attractive as IC Markets to traders prioritizing low costs. While both brokers cater to global users, IC Markets stands out as a more cost-efficient choice, offering significant savings opportunities for forex traders.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Minimum Deposit | $200 | $5 |
| Average Spread EUR/USD - Standard | 0.62 | N/A |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and FXGT.com both provide opportunities for forex trading as contracts for difference (CFDs) and offer an impressive array of investment options. IC Markets stands out significantly with a total of 3,583 tradeable symbols, compared to FXGT.com's more modest offering of 117 symbols. For those interested in forex pairs, both brokers provide a wide range, with IC Markets presenting 61 options and FXGT.com offering 53. Neither platform offers the ability to trade exchange-traded securities directly from U.S. exchanges, but IC Markets does offer international exchanges, allowing access to shares like those of Vodafone, an option that FXGT.com does not provide.
Both platforms support copy trading, catering to investors looking for strategic guidance. While neither brokerage allows the purchase of actual cryptocurrencies, they both offer cryptocurrency derivatives for trading enthusiasts. Ranked by ForexBrokers.com out of 63 brokers for their range of investments, IC Markets is placed at #25 with a rating of 4.5 stars, reflecting its more extensive selection. In contrast, FXGT.com is at #61 with a 3-star rating, indicating a more limited investment scope. These rankings highlight the key differences in investment offerings and trading opportunities between these two brokers.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 117 |
| Forex Pairs (Total) | 61 | 53 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
When it comes to selecting an online broker, both IC Markets and FXGT.com provide a user-friendly experience with their trading platforms and tools. Both brokers offer simulated trading through free virtual demo accounts, making them accessible for beginners wishing to practice without financial risk. Neither broker has a proprietary platform but supports both MetaTrader 4 and MetaTrader 5, which are popular among traders. Whether you prefer Windows-based desktop downloads or web-based platforms, both brokers have you covered. Moreover, IC Markets supports ZuluTrade for those interested in social trading, though FXGT.com does not. They both support copy trading, a tool that many traders find beneficial.
When it comes to charting, FXGT.com offers a wider range of drawing tools with 23 options compared to IC Markets' 15, allowing for more detailed analysis. However, IC Markets provides more comprehensive watch lists with seven columns as opposed to FXGT.com's five. Both brokers offer the convenience of trading directly from a stock chart. Rated four stars each for their trading platforms and tools, IC Markets and FXGT.com offer robust choices for traders. Nevertheless, in the competitive landscape of online brokers, IC Markets ranks higher at #16 compared to FXGT.com’s #56 placement amongst 63 brokers in this category.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 37 |
| Charting - Drawing Tools (Total) | 15 | 23 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 5 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IC Markets and FXGT.com offer comprehensive mobile trading apps available for iPhone and Android devices. These apps provide essential features like price alerts, chart drawing tools, and the ability to view multiple time frames, ensuring traders have a robust toolkit at their fingertips. A notable distinction between the two apps is in the watchlist syncing feature. FXGT.com allows for seamless syncing of watchlists between the mobile app and online account, which means users can easily transition across devices. On the other hand, IC Markets lacks this syncing capability.
In terms of technical studies, both apps come equipped with 30 options, providing ample resources for detailed market analysis. While both apps allow users to create watchlists with real-time quotes and auto-save chart drawings, IC Markets edges out FXGT.com with a slightly higher mobile app rating of 4 stars compared to FXGT.com's 3.5 stars. Furthermore, in a broader market comparison by ForexBrokers.com, IC Markets ranks #22 out of 63, while FXGT.com is positioned at #58, reflecting a generally higher user satisfaction with IC Markets' app experience.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between IC Markets and FXGT.com, several key differences emerge. IC Markets stands out with daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, elements that FXGT.com does not provide. Additionally, IC Markets gives traders access to advanced technical analysis and research tools from both Autochartist and Trading Central, which are absent in FXGT.com's offerings. Both brokers provide sentiment-based trading tools and economic calendars to help traders stay informed on global events.
Overall, IC Markets offers a more comprehensive suite of research tools, earning a 4-star rating for its research capabilities, while FXGT.com is rated 3 stars in this category. Within ForexBrokers.com's rankings of 63 brokers, IC Markets is placed at #23 for research, showcasing its commitment to providing in-depth market insights. In contrast, FXGT.com ranks at #56, highlighting areas where it lags behind its competitor in terms of research support.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginner traders, IC Markets stands out when compared to FXGT.com. IC Markets offers a wealth of resources, with at least 10 articles, videos, and webinars focused on forex and CFDs. They provide monthly educational webinars and maintain a searchable archive of these sessions, making it easy for beginners to learn at their own pace. Moreover, IC Markets offers both beginner and advanced trading videos, each comprising over 10 focused lessons. Their comprehensive investor dictionary further supports those new to trading, offering definitions of more than 50 investing terms.
On the other hand, FXGT.com falls short in providing extensive educational materials. While they do offer an investor dictionary similar to IC Markets, they lack the same variety and quantity of beginner-focused courses and resources. FXGT.com does not offer monthly webinars or access to a library of recorded sessions, nor do they provide a robust lineup of beginner and advanced educational videos. As a result, IC Markets earns a higher education rating of 4 stars compared to FXGT.com's 3 stars and ranks 16th out of 63 brokers, significantly ahead of FXGT.com's 60th position in the education category.
| Feature |
IC Markets
|
FXGT.com
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than FXGT.com. IC Markets finished with an overall rank of #20, while FXGT.com finished with an overall rank of #59.
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.
| Feature |
IC Markets
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FXGT.com
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 69 |
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Both IC Markets and FXGT.com do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
When comparing the financial transaction options of online brokers IC Markets and FXGT.com, IC Markets supports PayPal and Skrill for deposits and withdrawals but does not offer ACH or SEPA transfers, while FXGT.com includes ACH and SEPA transfers but lacks PayPal and Skrill options; both brokers accept Visa, Mastercard, and bank wire transactions.
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 | IC Markets | FXGT.com | |
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| Trust Score | 84 | 69 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | FXGT.com | |
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| Regulation | IC Markets | FXGT.com | |
|---|---|---|---|
| Trust Score | 84 | 69 | |
| Year Founded | 2007 | 2019 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | FXGT.com | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | IC Markets | FXGT.com | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | FXGT.com | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 117 | |
| Forex Pairs (Total) | 61 | 53 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | IC Markets | FXGT.com | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | N/A | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | FXGT.com | |
|---|---|---|---|
| Minimum Deposit | $200 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | FXGT.com | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | FXGT.com | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 5 | |
| Charting - Indicators / Studies (Total) | 30 | 37 | |
| Charting - Drawing Tools (Total) | 15 | 23 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | FXGT.com | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | FXGT.com | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | FXGT.com | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | FXGT.com | |
|---|---|---|---|
| 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 | IC Markets Review |
| Overall | IC Markets | FXGT.com | |
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| Trust Score | 84 | 69 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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