Written by ForexBrokers.com
In this head to head comparison of IC Markets vs IFC 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.
Founded in 2007, IC Markets stands out in the online brokerage landscape with a solid Trust Score of 84, affirming a 'trusted' status from ForexBrokers.com. This ensures clients have a reliable trading partner. While not publicly traded or a bank, IC Markets' credibility is strengthened by its possession of two Tier-1 licenses, which are highly trusted by industry standards. This positions it as a go-to choice for those seeking assurance in their trading activities.
In contrast, IFC Markets, established a year earlier in 2006, holds a Trust Score of 73, which lands it in the 'average risk' category. This broker, also not publicly traded or a bank, offers one Tier-2 license, indicating a level of trust but slightly lower than that of Tier-1. While both brokers present viable online trading solutions, IC Markets may appeal more to those prioritizing licensing authority and trust scores.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Year Founded | 2007 | 2006 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 0 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
IC Markets stands out in the competitive online brokerage landscape with exceptional commissions and fees, earning a 5-star rating and ranking 5th out of 63 brokers in the Commissions & Fees category according to ForexBrokers.com. With three account types—Standard, Raw Spread, and cTrader Raw Spread—traders can choose based on their preferred platform and trading style. The cTrader Raw Spread account offers a slightly lower commission rate of $6.00 per round turn for 100,000 units compared to $7.00 on the MetaTrader platform. With average spreads on the EUR/USD pair starting at 0.02 pips, IC Markets provides an all-in cost of 0.62 pips on cTrader and 0.72 on MetaTrader for Raw Spread accounts, offering some of the most competitive trading costs in the industry. Additionally, active traders who engage in over 100 standard lots per month can benefit from further discounts.
In comparison, IFC Markets receives a 4-star rating, placing it at 39th position in the same category. While IFC Markets offers a decent trading experience, its average spread for the EUR/USD pair stands at 1.44 pips, which is above the industry average. However, more active traders can enjoy improved cost-effectiveness through the IFC Markets' ECN account, which features a reduced effective spread of 1.1 pips accounting for the 0.005% commission on both trade sides. Moreover, the broker doesn't impose inactivity fees and provides discounts for active traders, enhancing its appeal for those engaging in higher trading volumes.
Overall, both brokers bring unique advantages to the table, with IC Markets excelling in cost-effectiveness and variety of account options, while IFC Markets offers competitive features for active traders and refrains from charging inactivity fees. Both brokers cater to different trading needs, making them valuable choices depending on what each individual trader prioritizes.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Minimum Deposit | $200 | $1 |
| Average Spread EUR/USD - Standard | 0.62 | 1.44 |
| All-in Cost EUR/USD - Active | 0.62 | 1.1 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| 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 IFC Markets both provide a selection of investment options for traders, featuring forex trading either as a CFD or a spot contract. IC Markets impresses with an extensive array of 3,583 tradeable symbols, which significantly surpasses the 630 options available with IFC Markets. In terms of forex pairs, IC Markets again offers more variety with 61 pairs compared to IFC Markets' 49 pairs. While neither platform allows purchasing of U.S. exchange-traded securities like Apple shares, both facilitate trading international options such as Vodafone shares on the London Stock Exchange. Additionally, both brokers support copy trading.
For cryptocurrency investments, neither IC Markets nor IFC Markets offers the ability to buy actual digital currencies, but both platforms permit trading cryptocurrency derivatives. IC Markets holds a higher rating for its range of investments with 4.5 stars compared to IFC Markets' 3.5 stars. When ranked among 63 brokers for their investment range, IC Markets secures the #25 spot, while IFC Markets is ranked at #43. This highlights the broader investment horizon provided by IC Markets, appealing to traders seeking diversity in their trading portfolio.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 630 |
| Forex Pairs (Total) | 61 | 49 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Both IC Markets and IFC Markets provide excellent options for those looking to engage in simulated trading through free virtual demo accounts, making it easy for beginners to get started without any financial risk. When it comes to trading platforms, IC Markets supports popular platforms such as MetaTrader 4 and MetaTrader 5 but does not offer a proprietary platform. In contrast, IFC Markets brings its own proprietary platform into the mix. Both brokers feature Windows-based desktop platforms and web-based interfaces, offering flexibility for traders who prefer these setups. While both brokers excel in providing copy trading services, IC Markets stands out for also offering ZuluTrade, which is not available with IFC Markets.
Charting tools are crucial for traders, and both IC Markets and IFC Markets deliver a solid range here, with each providing 15 drawing tools and support for direct trading from stock charts. Their watch list features are equally matched, with both brokers offering seven customizable columns. When it comes to industry recognition, IC Markets ranks higher at #16 compared to IFC Markets at #36 out of 63 brokers, according to ForexBrokers.com's ranking for trading platforms and tools. Nonetheless, both brokers are rated four out of five stars in this category, showing that they're well-regarded options in the trading community.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| 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 IFC Markets offer convenient options for both iPhone and Android users. They provide important features like stock and forex price alerts, and each app supports the ability to draw trendlines on charts while viewing multiple time frames. Users with either app can create watchlists with real-time quotes, although IC Markets does not allow watchlist symbol syncing between the app and its online account, where IFC Markets does. Both apps offer robust charting with 30 technical studies and auto-save for any drawings made.
In terms of user ratings, both IC Markets and IFC Markets receive a solid 4 out of 5 stars for their mobile trading offerings. However, IC Markets stands out slightly in overall ranking, coming in at #22 out of 63 brokers according to ForexBrokers.com, compared to IFC Markets' #52 ranking. Despite these differences, both apps present reliable tools for mobile traders, catering to both novice and seasoned investors alike.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| 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.
IC Markets and IFC Markets both offer daily market commentary, providing traders with insights to better understand market movements. However, IC Markets stands out with its provision of forex news from renowned sources like Bloomberg and Reuters, which IFC Markets does not offer. This distinction suggests that IC Markets can provide a more comprehensive view of the broader financial landscape for its users. Both brokers deliver an economic calendar, keeping traders informed of significant global events, which is an invaluable tool for those focused on market timings.
In terms of technical analysis and research tools, IC Markets has partnered with well-known companies such as Autochartist and Trading Central, providing users with extensive analytical resources that IFC Markets does not offer. While both brokers offer sentiment-based trading tools, IC Markets' wider array of features positions it as more appealing for those keen on thorough market analysis. Consequently, IC Markets holds a research rating of 4 stars compared to IFC Markets' 3.5 stars and ranks 23rd out of 63 brokers, significantly ahead of IFC Markets, which ranks 40th.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| 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 | 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 beginners, both IC Markets and IFC Markets have made commendable efforts to provide valuable content. IC Markets shines with a wider array of educational offerings, including regular online webinars. Every month, beginners can benefit from these live, interactive sessions that cover key forex and CFD trading topics. Moreover, if you miss a session, IC Markets provides a searchable archive, allowing revisits to past webinars seamlessly. Beginners can also access over ten beginner-focused videos, augmenting their foundational understanding, while advanced traders are not left behind with an equivalent number of advanced educational videos. Additionally, IC Markets features a comprehensive investor dictionary with more than 50 essential investing terms, a fantastic resource for demystifying trading jargon. These efforts have earned IC Markets a strong four-star rating for education, ranking it 16th among 63 brokers according to ForexBrokers.com.
On the other hand, IFC Markets is also committed to education, providing no fewer than 10 educational pieces focused on forex and CFDs, available as articles, videos, or archived webinars. Beginners and experienced traders will find at least ten educational videos tailored to their trading levels, enhancing their trading knowledge and skills at each stage. While live monthly webinars are not part of IFC Markets' educational package, the platform compensates with its extensive educational resource library. Like IC Markets, it also offers an investor dictionary containing more than 50 investment terms to assist traders in learning essential concepts. IFC Markets holds a respectable 3.5-star rating in the education category, ranking 30th out of 63 brokers on ForexBrokers.com. While both platforms offer substantial educational content, traders seeking ongoing live interaction may find IC Markets more advantageous.
| Feature |
IC Markets
|
IFC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 IFC Markets. IC Markets finished with an overall rank of #20, while IFC Markets finished with an overall rank of #45.
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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IFC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 73 |
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Both IC Markets and IFC Markets do not offer the ability to buy actual cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
When comparing IC Markets and IFC Markets for online trading, IC Markets stands out by offering PayPal and Skrill as deposit and withdrawal options, while both platforms provide Visa, Mastercard, and bank wire transfers, yet neither supports ACH or SEPA transfers.
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 | IFC Markets | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | IFC Markets | |
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| Regulation | IC Markets | IFC Markets | |
|---|---|---|---|
| Trust Score | 84 | 73 | |
| Year Founded | 2007 | 2006 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 0 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | IFC Markets | |
|---|---|---|---|
| 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 | No |
| Tier-2 Licenses (Trusted) | IC Markets | IFC Markets | |
|---|---|---|---|
| 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 | IFC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 630 | |
| Forex Pairs (Total) | 61 | 49 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| 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). |
| Cost | IC Markets | IFC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.44 | |
| All-in Cost EUR/USD - Active | 0.62 | 1.1 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | IFC Markets | |
|---|---|---|---|
| Minimum Deposit | $200 | $1 | |
| 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 | No |
| Trading Platforms | IC Markets | IFC Markets | |
|---|---|---|---|
| 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 | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | IFC Markets | |
|---|---|---|---|
| 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 | IFC Markets | |
|---|---|---|---|
| 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 | IFC Markets | |
|---|---|---|---|
| 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 | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | IFC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | IFC 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 | IC Markets Review |
| Overall | IC Markets | IFC Markets | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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