Written by ForexBrokers.com
In this head to head comparison of IC Markets vs FXPrimus, 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.
IC Markets and FXPrimus are both well-established online brokers with IC Markets founded in 2007 and FXPrimus in 2009. Neither of the brokers is publicly traded or operates as a bank. While not listed on a stock exchange, IC Markets holds two Tier-1 licenses, which are considered highly trusted, giving it a ForexBrokers.com Trust Score rating of 84 out of 99. Meanwhile, FXPrimus holds one Tier-1 license, contributing to its Trust Score rating of 71, categorizing it under average risk according to ForexBrokers.com standards. These Trust Scores suggest IC Markets as a more trusted option compared to FXPrimus.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Year Founded | 2007 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing IC Markets to FXPrimus in terms of commissions and fees, IC Markets stands out for its competitive trading costs. IC Markets provides three account types: the commission-free Standard account and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account, with a lower commission than the MetaTrader (MT4 or MT5) account, charges $3.0 per side for every 100,000 units, resulting in a total cost of $6.00 per round turn (RT). The MetaTrader-linked Raw Spread account, on the other hand, demands $3.5 per side or $7.00 per RT. IC Markets offers an average spread of 0.02 pips on the EUR/USD pair, which translates to a total trading cost of 0.62 pips on the cTrader account. This is quite competitive compared to the market standard. Furthermore, active traders who engage in more than 100 standard lots per month are eligible for additional discounts.
IC Markets has been distinguished with a 5-star rating for commissions and fees, achieving a rank of #5 out of 62 brokers on ForexBrokers.com. In contrast, FXPrimus holds a 4-star rating and is ranked #42 among the same group. While specific average spread data for FXPrimus is not available, these rankings indicate a notable difference in trading costs between the two online brokers.
Overall, IC Markets is renowned for its low trading costs, making it a top choice for budget-conscious traders. The combination of various account options and favorable conditions for active traders further enhances its appeal. While FXPrimus offers commendable services with a decent rating, IC Markets clearly edges ahead in terms of cost-effectiveness and flexibility.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| 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 | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and FXPrimus both offer forex trading contracts, and on this front, they provide users diverse options for engaging with the forex market. However, when it comes to the number of tradable symbols, IC Markets clearly outshines FXPrimus with over 3,583 symbols compared to FXPrimus's 140. In terms of tradable forex pairs, IC Markets offers 61 pairs, providing a wider array for trading than FXPrimus's 42 pairs.
While neither IC Markets nor FXPrimus provides access to U.S. exchange-traded securities like Apple shares, IC Markets does allow trading of international securities such as Vodafone shares, an option not available with FXPrimus. Both brokers offer cryptocurrency derivatives, despite not allowing the purchase of actual cryptocurrencies. On the capacity for investment copy trading, both platforms deliver this feature to their clients. Reflecting the broader selection of investment opportunities, IC Markets earns a higher rating of 4.5 stars for its range of investments compared to FXPrimus's 3.5-star rating, indicating a more comprehensive offering in the category.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 140 |
| Forex Pairs (Total) | 61 | 42 |
| 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.
Both IC Markets and FXPrimus offer traders a free virtual demo account to practice strategies without financial risk. While IC Markets does not provide a proprietary platform, favoring popular options like MetaTrader 4 and 5 and ZuluTrade for copy trading, FXPrimus extends its offerings with a proprietary platform alongside the well-known MetaTrader options. Both brokers make their platforms accessible via Windows desktop and web browsers, ensuring flexibility for traders who prefer different methods of engaging with the market.
Both IC Markets and FXPrimus offer a comprehensive trading experience with features such as trading directly from stock charts, 15 drawing tools for charting, and watch lists organized into seven columns. However, in the realm of online broker rankings by ForexBrokers.com, IC Markets stands out a bit more, ranked #16, while FXPrimus holds the #49 spot. Despite these differences, each broker secures a four-star rating in trading platforms and tools, indicating a competitive edge in the market with a range of tools catering to both beginner and advanced traders.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| 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 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IC Markets and FXPrimus offer a comprehensive experience for iPhone and Android users, allowing traders to stay connected on the go. Both brokers provide essential features such as stock and forex price alerts, as well as the ability to draw trendlines and view multiple time frames, ensuring users have access to vital trading tools. Additionally, each app supports creating watchlists with real-time quotes, though neither offers watchlist symbol syncing across their platforms. This means any changes made on your mobile device won't automatically update on your desktop account.
In terms of technical studies, IC Markets and FXPrimus are on par, both providing 30 studies for charting. The apps also auto-save any chart drawings you make, offering convenience and efficiency. Rated at four stars each for mobile trading, IC Markets and FXPrimus deliver a similarly satisfactory experience according to customer reviews. However, when it comes to rankings by ForexBrokers.com, IC Markets takes the lead, placed at #22 out of 62 brokers, whereas FXPrimus is ranked #48. This may indicate a slight edge in user satisfaction and overall app performance for IC Markets.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| 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 it comes to market research offerings, IC Markets and FXPrimus both provide daily market commentary and an economic calendar that highlights key global news events. However, IC Markets takes the lead by offering forex news from top-tier sources such as Bloomberg and Reuters. In addition, IC Markets integrates advanced technical research tools from Autochartist and Trading Central, enhancing traders' analytical capacities with cutting-edge features like sentiment-based trading tools. Unlike FXPrimus, which lacks these partnerships and tools, IC Markets delivers a more comprehensive suite for in-depth market analysis.
As a result of its extensive features and collaboration with prominent international news outlets and research tools, IC Markets earns a higher research rating of four stars compared to FXPrimus's three stars. Furthermore, IC Markets holds a notable rank of #23 out of 62 brokers in the Research category by ForexBrokers.com, whereas FXPrimus lags at #58. These rankings underscore the superior market research environment available to traders at IC Markets, making it a preferred choice for those seeking insightful and diverse trading resources.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources provided by IC Markets and FXPrimus for beginners, both brokers offer a solid foundation with a variety of learning materials. IC Markets stands out by offering more extensive resources. It offers over ten beginner educational videos that cover trading topics and a comprehensive investor dictionary with definitions of more than 50 investing terms. These resources cater specifically to the needs of newcomers who are looking to understand the basics of trading. In addition, both IC Markets and FXPrimus conduct monthly webinars and provide access to a library of previously recorded sessions, allowing users to learn at their own pace from home.
FXPrimus, on the other hand, offers fewer beginner-specific resources compared to IC Markets. While it does provide a series of educational articles and videos, it lacks the volume of beginner-targeted content that IC Markets offers. The educational content at FXPrimus receives a slightly lower rating, with 3 out of 5 stars compared to IC Markets' 4 stars. Furthermore, IC Markets is ranked significantly higher in the Education category by ForexBrokers.com, coming in at 16th place out of 62 brokers, whereas FXPrimus is ranked 51st. Overall, IC Markets may offer a more comprehensive educational package for those starting their trading journey.
| Feature |
IC Markets
|
FXPrimus
|
|---|---|---|
| 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 | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IC Markets is better than FXPrimus. IC Markets finished with an overall rank of #20, while FXPrimus finished with an overall rank of #53.
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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FXPrimus
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 71 |
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Both IC Markets and FXPrimus do not provide the option to buy actual cryptocurrencies but do offer trading in cryptocurrency derivatives.
In comparing the online brokers IC Markets and FXPrimus, both lack ACH and SEPA transfer options but offer secure transactions through Skrill, Visa, Mastercard, and bank wires, although IC Markets additionally supports PayPal while FXPrimus does not.
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 | FXPrimus | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | FXPrimus | |
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| Regulation | IC Markets | FXPrimus | |
|---|---|---|---|
| Trust Score | 84 | 71 | |
| Year Founded | 2007 | 2009 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | FXPrimus | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 140 | |
| Forex Pairs (Total) | 61 | 42 | |
| 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 | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
|---|---|---|---|
| Minimum Deposit | $200 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | FXPrimus | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| 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 | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | FXPrimus | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | FXPrimus | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| 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 | FXPrimus | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | FXPrimus | |
|---|---|---|---|
| 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 | No |
| Major Forex Pairs | IC Markets | FXPrimus | |
|---|---|---|---|
| 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 | FXPrimus | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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