Written by ForexBrokers.com
In this head to head comparison of IG 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.
Founded in 1974, IG stands as a seasoned player in the online brokerage arena. It is publicly traded and holds the status of a bank. With a top-tier Trust Score of 99 from ForexBrokers.com, IG is considered highly trusted. This is backed by its impressive acquisition of 8 Tier-1 licenses, reflecting a strong regulatory standing worldwide. Additionally, IG has 2 Tier-2 licenses that further enhance its credibility in providing secure investment services.
IC Markets, established in 2007, operates as a private entity and does not hold bank status. Its ForexBrokers.com Trust Score is 84, earning it a classification of "trusted". While newer to the scene compared to IG, IC Markets maintains credibility with its 2 Tier-1 licenses. However, the firm holds no Tier-2 licenses, which might be a consideration for those prioritizing extensive regulatory oversight.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Year Founded | 1974 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
IG and IC Markets both hold strong reputations in the world of online forex trading, receiving high ratings for commissions and fees. IG shines with its five-star rating, offering a variety of execution methods and tools such as Forex Direct accounts to support both active and large order traders. IG's spreads are close to the industry average, with Forex Direct spins averaging 0.62 during July 2023, resulting in an all-in cost of 0.82 pips. For CFDs, IG offers competitive average spreads of 0.69 pips during main trading hours. Moreover, IG uses a three-tier active trader rebate program offering up to 20% spread rebates for high-volume traders who qualify as professionals.
IC Markets is also highly regarded, earning a five-star rating and the Best in Class for Commissions & Fees. Its offerings include the Standard account, which is commission-free with an average spread of 0.62 pips, and commission-based accounts such as the Raw Spread and cTrader Raw Spread accounts. IC Markets' average spread on the EUR/USD is an impressive 0.02 pips, with an all-in cost of 0.62 pips when commission is considered for cTrader accounts. The Raw Spread account using MetaTrader charges slightly different commission rates, contributing to an overall cost of 0.72 pips. For traders executing over 100 standard lots monthly, IC Markets offers attractive discounts.
Both brokers are top contenders, but IC Markets outranks IG, landing the number five spot out of 63 brokers in the Commissions and Fees category by ForexBrokers.com, compared to IG’s eighth-place ranking. Each firm provides its set of advantages, allowing traders to select the platform that best meets their trading style and volume needs.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Minimum Deposit | £250.00 | $200 |
| Average Spread EUR/USD - Standard | 0.98 | 0.62 |
| All-in Cost EUR/USD - Active | 0.82 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by IG and IC Markets, both brokers provide forex trading through CFDs or spot contracts. However, IG stands out with a significantly larger selection of tradeable symbols, offering 19,537 compared to IC Markets' 3,583. In terms of forex pairs, IG provides access to 97 pairs, while IC Markets offers 61. A key difference is IG's ability to trade exchange-listed securities directly on U.S. exchanges, such as buying Apple shares, a service IC Markets doesn't offer. Both brokers allow trading on international exchanges like the London Stock Exchange. Additionally, IG supports the purchase of actual cryptocurrencies alongside derivatives, whereas IC Markets only deals with cryptocurrency derivatives.
IG and IC Markets also cater to different investor needs with their additional features. While IG does not support copy trading, IC Markets does, appealing to investors interested in mirroring the trades of experienced traders. IG's more extensive range of offerings is reflected in its higher 5-star rating for Range of Investments, compared to IC Markets' 4.5 stars. Furthermore, IG is ranked #4 by ForexBrokers.com among 63 brokers in the Range of Investments category, whereas IC Markets holds the #25 spot. This distinction highlights IG as a more versatile option for those seeking a broader investment portfolio.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 3583 |
| Forex Pairs (Total) | 97 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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 IG and IC Markets in terms of trading platforms and tools, both brokers offer free virtual demo accounts, allowing users to practice trading without financial risk. However, IG boasts a proprietary platform developed in-house, while IC Markets relies on third-party platforms. Both brokers support a Windows-based desktop download and web-based trading, providing accessibility on various devices. While IG does not offer copy trading, IC Markets provides this feature for traders interested in mirroring others' trades. Additionally, both brokers support MetaTrader 4, but only IC Markets offers MetaTrader 5 and the popular ZuluTrade, catering to more diverse trading preferences.
When it comes to features for charting, IG provides 20 drawing tools, surpassing IC Markets, which offers 15. Both brokers allow trading directly from stock charts, delivering a seamless trading experience. For watchlists, IG presents 5 columns, whereas IC Markets offers 7, giving traders more tracking capabilities. In the Trading Platforms and Tools category, IG holds a remarkable 5-star rating and ranks #2 out of 63 brokers according to ForexBrokers.com, while IC Markets earns 4 stars and ranks #16, reflecting IG's slight edge in this area.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IG and IC Markets offer robust options for iPhone and Android users. They provide important features like stock and forex price alerts, real-time quotes for watchlists, and the ability to view multiple time frames on charts. However, there is a key difference when it comes to organizing and managing your investments: IG's app allows watchlist symbol syncing with your online account, ensuring that any changes made on your phone automatically update on other devices. In contrast, IC Markets lacks this syncing feature.
For technical traders, IG's app provides 33 technical studies in its charting tools, slightly surpassing the 30 offered by IC Markets. Both apps allow users to draw trendlines and auto-save these drawings, enhancing chart analysis. In terms of user satisfaction, IG leads with a perfect 5-star rating, while IC Markets earns a commendable 4 stars. ForexBrokers.com ranks IG as the top choice out of 63 brokers for mobile trading apps, in contrast to IC Markets, which holds the 22nd spot. This distinction reflects IG's superior app features and overall user experience.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 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, both IG and IC Markets provide valuable resources for traders. Each platform offers daily market commentary and access to forex news from renowned sources like Bloomberg and Reuters. They both also deliver technical analysis tools from Autochartist and have sentiment-based trading tools to gauge market trends. Additionally, the two platforms feature economic calendars that highlight key global news events, assisting traders in making informed decisions.
Amidst these similarities, there are key differences that set IG apart in research offerings. Unlike IC Markets, IG includes market research from TipRanks and tools from Acuity Trading, enhancing its service. While IC Markets offers resources from Trading Central, IG does not, but this doesn't overshadow IG's comprehensive suite of research tools which has earned it a perfect 5-star rating. In the competitive landscape of 63 brokers, IG holds the impressive rank of #2 for research, in contrast to IC Markets, which stands at #23 with a 4-star research rating.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both IG and IC Markets provide solid offerings for those looking to learn about forex and CFDs. Both brokers have a wide selection of at least ten educational materials, including articles, videos, and archived webinars, all focused on forex or CFDs. They also conduct regular online webinars, with each offering at least one educational session per month. Additionally, IG and IC Markets feature searchable archives of previously recorded webinars, making it easy for users to find resources that suit their learning pace and schedule.
Both IG and IC Markets go the extra mile by providing at least ten beginner-focused videos that cover trading topics. For those ready to delve deeper, they also both offer advanced educational video content. An important feature for new traders is an investor dictionary, which both platforms include, offering definitions for at least 50 trading terms. However, when looking at ratings and rankings, IG shines a bit brighter. It receives a perfect 5-star rating for education and is ranked as the top broker out of 63 by ForexBrokers.com, while IC Markets is rated 4 stars and holds the 16th position. This makes IG slightly more attractive for those prioritizing education in their trading journey.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| 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 IG is better than IC Markets. IG finished with an overall rank of #1, while IC Markets finished with an overall rank of #20.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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IG offers both the option to purchase actual delivered cryptocurrency and cryptocurrency derivatives, while IC Markets provides only cryptocurrency derivatives and does not support the buying of actual delivered cryptocurrency.
When comparing online brokers IG and IC Markets, IG provides ACH or SEPA transfers, PayPal, Visa or Mastercard, and bank wire options for depositing or withdrawing funds, whereas IC Markets offers PayPal, Skrill, Visa or Mastercard, and bank wire options but lacks ACH or SEPA transfer capabilities.
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 | IG | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | IG Review | IC Markets Review |
| Broker Screenshots | IG | IC Markets | |
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| Regulation | IG | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1974 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | IG | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 3583 | |
| Forex Pairs (Total) | 97 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | IG | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | IC Markets | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $200 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | IG | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 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 | IG | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | IC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | IC 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 | IG Review | IC Markets Review |
| Overall | IG | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | IG Review | IC Markets Review |
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