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 it comes to trading costs, IC Markets stands out with its low effective spreads and minimal deposit requirements in its commission-based accounts. This makes IC Markets comparable to some of the top low-cost forex brokers like IG and CMC Markets. Offering three types of accounts—Standard, Raw Spread, and cTrader Raw Spread—IC Markets accommodates different trading preferences. While the Standard account features commission-free trading with an average spread of 0.62 pips, the Raw Spread accounts using MetaTrader or cTrader present more competitive commission structures. The cTrader-linked account charges a lower commission at $3.0 per side for every 100,000 units, as opposed to $3.5 per side on the MetaTrader Raw Spread account. IC Markets' effective spreads further enhance its appeal by listing an average spread on EUR/USD at 0.02 pips, which translates to a total cost of 0.62 pips on cTrader and 0.72 on MetaTrader after including commissions. Rated 5 stars for its commissions and fees, IC Markets ranks fifth among 63 brokers in the 2024 Annual Awards, highlighting its cost-effective trading options.
FXPrimus, meanwhile, offers a varied trading experience but lacks specific average spread data for easy comparison with its competitors. While not as competitively priced as IC Markets, FXPrimus still holds a respectable position with a 4-star rating in commissions and fees. However, its overall rank of 42 out of 63 brokers reflects room for improvement to catch up with industry leaders like IC Markets. Traders exploring FXPrimus will likely find a solid, if not stellar, choice for their trading endeavors, but should be aware that its pricing metrics are less transparent than those offered by IC Markets.
In summary, IC Markets comes out ahead in terms of lower commissions and transparent cost structures, making it a favored choice for cost-conscious traders. With tailored account options and platform choices, IC Markets gives traders the flexibility to optimize their trading expenses, while topping customer reviews with a 5-star rating and a high industry rank. FXPrimus, though reliable, falls short in these aspects, with a commendable 4-star rating and a mid-range ranking that reflects its potential yet current competitive drawbacks in the market landscape.
| 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.
When comparing IC Markets and FXPrimus for their available range of investments, both platforms allow users to engage in forex trading through CFDs or spot contracts. However, a closer look reveals significant differences in the variety of offerings. IC Markets provides a substantial selection with 3,583 tradeable symbols and 61 forex pairs, whereas FXPrimus offers 140 tradeable symbols and 42 forex pairs. Neither company offers exchange traded securities on U.S. exchanges, but IC Markets provides the added benefit of offering international exchanges, allowing users to invest in companies like Vodafone on the London Stock Exchange. Both platforms support cryptocurrency trading through derivatives, yet neither offers the option to purchase actual cryptocurrencies.
In terms of copy trading features, both IC Markets and FXPrimus equip investors with this useful tool. However, IC Markets stands out with a higher rating, earning 4.5 stars compared to FXPrimus' 3.5 stars for their range of investments. This distinction is further highlighted by their rankings from ForexBrokers.com, where IC Markets is positioned at 25 out of 63 brokers—an impressive rank relative to FXPrimus, which ranks at 59. For investors looking for a broad spectrum of investment opportunities, IC Markets presents a more diverse and highly-rated option compared to FXPrimus.
| 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.
When comparing the trading platforms and tools of IC Markets and FXPrimus, both brokers offer a range of features designed to enhance the trading experience. Both platforms provide access to virtual demo accounts, allowing users to practice without financial risk. While neither broker has developed their own proprietary platform, they both provide Windows-based desktop platforms and web-based trading options for convenient access. Additionally, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are available on both platforms, catering to popular demand among traders. However, IC Markets sets itself apart with support for ZuluTrade for social trading, a feature not offered by FXPrimus. In terms of charting capabilities, both brokers provide 15 drawing tools and the ability to trade directly from stock charts, offering a comparable experience for technical analysis enthusiasts.
Despite several similar features, IC Markets and FXPrimus differ in their approach to trading technologies. FXPrimus uniquely offers a proprietary platform, giving it a distinct edge for those interested in broker-developed solutions. Both brokers allow for copy trading, yet IC Markets is better positioned for those who value additional integration with ZuluTrade. Users interested in custom watch lists will find both platforms evenly matched, offering seven columns for fields. While both brokers are rated four stars for their trading platforms and tools, IC Markets ranks higher at #16 out of 63 brokers on ForexBrokers.com, compared to FXPrimus' #49 ranking, reflecting a slight edge in overall platform appeal and functionality.
| 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.
IC Markets and FXPrimus both offer their clients the convenience of mobile trading apps compatible with iPhone and Android devices. Both apps allow users to set stock and forex price alerts and create watchlists with real-time quotes. With 30 technical studies available for charting, users of both platforms can also draw trend lines and view various time frames on their charts. However, neither app supports watchlist symbol syncing, so changes made in the app do not automatically sync with your online account. Fortunately, both platforms auto-save your chart drawings, ensuring your technical analysis remains intact.
When it comes to user reviews, both IC Markets and FXPrimus mobile trading apps receive a solid 4-star rating. Nevertheless, IC Markets stands out in rankings, placing as the 22nd best among 63 brokers in the Mobile Trading Apps category according to ForexBrokers.com, while FXPrimus ranks 48th. This suggests that while both platforms offer similar fundamental features, IC Markets might provide a slightly more favorable mobile trading experience.
| 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.
Both IC Markets and FXPrimus provide daily market commentary and economic calendars, keeping traders informed of current and upcoming global news events. However, IC Markets distinguishes itself by offering forex news from leading sources such as Bloomberg and Reuters, which is a feature FXPrimus lacks. Additionally, IC Markets provides an array of advanced analysis tools from renowned companies like Autochartist and Trading Central. These tools empower traders with technical and fundamental insights that FXPrimus does not offer in its platform. Moreover, IC Markets offers a unique sentiment-based trading tool that displays the ratio of long or short positions across various instruments, enriching the trading decision process.
When it comes to market research, IC Markets is rated four stars compared to FXPrimus’s three stars. This rating is reflective of the comprehensive research resources that IC Markets extends to traders, compared to FXPrimus. In the ForexBrokers.com rankings, IC Markets stands at #23 out of 63 brokers for research, whereas FXPrimus ranks at #58. While both brokers equip traders with fundamental market commentaries and calendars, IC Markets offers a broader range of research tools, reinforcing its higher standing and appeal for those seeking detailed market analysis.
| 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 IC Markets and FXPrimus on the educational resources they offer to beginner traders, IC Markets stands out with more extensive offerings. Both platforms provide at least ten educational pieces focused on forex and CFDs, including articles, videos, and archived webinars, and they host regular online webinars. However, IC Markets goes a step further by providing a searchable archive of these webinars, making it easier for beginners to find the information they need at any time. Also, IC Markets offers more targeted educational content; they provide over ten beginner-friendly videos specifically catering to newcomers, whereas FXPrimus does not meet this benchmark.
Moreover, IC Markets caters to more advanced traders with more than ten educational videos designed for experienced users, while FXPrimus lacks this depth. A further advantage for IC Markets is their comprehensive investor dictionary, which contains definitions for over 50 trading terms, offering a valuable resource for those new to the language of trading. This extensive suite of resources is reflected in their education rating, where IC Markets earns four out of five stars, compared to FXPrimus's three stars. In rankings published by ForexBrokers.com, IC Markets holds a more favorable position at number 16 out of 63 brokers, compared to FXPrimus, which ranks at 51. Overall, IC Markets provides a richer educational experience for beginner traders seeking guidance in forex and CFDs trading.
| 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 63 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
|
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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