Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Interactive Brokers and IC Markets are notable online brokers that offer a variety of trading services, but they differ significantly in their regulatory standings and trust scores as rated by ForexBrokers.com. Interactive Brokers, established in 1977, holds a stellar reputation with a perfect Trust Score of 99. It boasts an impressive nine Tier-1 licenses, which are considered highly trusted. Additionally, Interactive Brokers is publicly traded, adding an extra layer of transparency and accountability, although it is not itself a bank.
In contrast, IC Markets, founded in 2007, is not publicly traded and maintains a Trust Score of 84, which is considered trusted. This broker has secured two Tier-1 licenses, ensuring a reasonable degree of trust but fewer high-level regulatory endorsements compared to Interactive Brokers. IC Markets does not have any Tier-2 licenses, which adds depth to the comparison, showing variations in their regulatory commitments. Both brokers, however, do not operate as banks.
| Feature |
Interactive Brokers
|
IC Markets
|
|---|---|---|
| Year Founded | 1977 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing Interactive Brokers to IC Markets based on commissions and fees, both stand out with a five-star rating. Interactive Brokers, ranked #2 by ForexBrokers.com, offers competitive pricing for forex trades. However, their average spreads aren't publicly available, making direct comparisons challenging. The average spread for EUR/USD during Q3 2024 was about 0.59 pips, inclusive of commission. Forex commissions per side typically start at 0.2 basis points of the U.S. dollar trade value, with a $2 minimum per order. For active traders, these costs can reduce significantly, with the possibility of dropping to just $1 per order depending on monthly trade volume. Interactive Brokers aggregates prices from top interbank dealers and charges between $16 to $40 per million round turn.
IC Markets, ranked #5 in the same category, competes fiercely with other low-cost forex brokers, offering varied account types. Their Standard account is commission-free, with spreads averaging 0.62 pips. The commission-based Raw Spread account and the cTrader Raw Spread account charge $3.5 and $3.0 per side for every 100,000 units, respectively. Their effective spread for the EUR/USD is remarkably low at 0.02 pips before commissions, making the all-in cost around 0.62 pips on cTrader accounts. IC Markets is recognized for offering discounts to highly active traders who trade over 100 standard lots monthly.
While both brokers provide competitive forex trading options, each has distinct advantages depending on an investor's trading volume and platform preference. Interactive Brokers is a robust choice for those trading in large volumes due to its tiered discount structure, while IC Markets appeals to traders seeking low spreads and flexible account options.
| Feature |
Interactive Brokers
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Average Spread EUR/USD - Standard | 0.59 | 0.62 |
| All-in Cost EUR/USD - Active | 0.59 | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and IC Markets both provide forex trading, yet they differ in the extent of their investment offerings. Interactive Brokers shines with a substantial 8,500 tradeable symbols, compared to IC Markets' 3,583. For forex pairs, Interactive Brokers offers 90, while IC Markets provides 61. Notably, Interactive Brokers allows clients to buy exchange traded securities on U.S. and international exchanges, like Apple and Vodafone shares, whereas IC Markets is limited to international exchanges. In terms of diversity, Interactive Brokers also lets investors buy actual cryptocurrencies, alongside derivatives, enhancing its appeal to those seeking broader investment options.
Additionally, IC Markets supports copy trading, a feature not offered by Interactive Brokers. This can attract traders interested in mimicking successful trading strategies. However, Interactive Brokers is rated five stars for its range of investments and ranks first among 63 brokers by ForexBrokers.com, whereas IC Markets earns 4.5 stars and ranks 25th. These rankings underscore Interactive Brokers' superior breadth in investment possibilities, making it a standout choice for those seeking extensive market access and variety in their portfolios.
| Feature |
Interactive Brokers
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 3583 |
| Forex Pairs (Total) | 90 | 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 it comes to trading platforms and tools, Interactive Brokers and IC Markets offer varied experiences for traders at all levels. Both brokers provide a free virtual demo account, allowing you to practice your strategies before committing real money. Interactive Brokers features a proprietary platform developed in-house and supports trading on a Windows-based desktop, web browser, and stock chart directly. Although it lacks MetaTrader 4 and 5 support, Interactive Brokers impresses with an extensive 85 drawing tools for charting and the ability to customize watch lists with an impressive 659 columns.
In contrast, IC Markets excels with its popular MetaTrader 4 and 5 offerings and additional ZuluTrade integration, providing options for those keen on copy trading. The broker supports trading via Windows-based desktop and web browser platforms, also allowing trades to be executed directly from stock charts. IC Markets presents a less complex approach with 15 drawing tools for charting and seven watch list customization options. Rated slightly lower than Interactive Brokers, with four stars compared to five for trading platforms and tools, IC Markets ranks 16th out of 63 brokers, while Interactive Brokers stands at an impressive third position.
| Feature |
Interactive Brokers
|
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) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and IC Markets offer mobile trading applications for iPhone and Android devices, enabling users to trade with ease from their smartphones. While both platforms provide stock and forex price alerts, Interactive Brokers further enhances user experience by allowing watchlist symbol syncing, ensuring that any changes made sync seamlessly across devices. In contrast, this feature is absent in IC Markets. Chart enthusiasts may find Interactive Brokers more appealing, offering 97 technical studies for charting, compared to IC Markets’ 30. Both apps support drawing trendlines and viewing charts across multiple time frames. However, only IC Markets automatically saves these drawings, a feature Interactive Brokers lacks.
Interactive Brokers takes the lead as a preferred choice amongst traders, earning a five-star rating for their mobile apps and securing the fourth position among 63 brokers, according to ForexBrokers.com. IC Markets, meanwhile, holds a four-star rating and ranks 22nd for their mobile trading apps. Both platforms support creating watchlists with real-time quotes, ensuring traders can keep a close eye on market movements. With these features in mind, Interactive Brokers seems particularly favorable for those who value advanced charting tools and syncing capabilities.
| Feature |
Interactive Brokers
|
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 | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When evaluating market research offerings, Interactive Brokers and IC Markets both provide daily market commentary and supply forex news from esteemed sources such as Bloomberg and Reuters. Both brokers also offer tools from Trading Central, including technical analytics, and feature sentiment-based trading tools that reveal trading positions across currency pairs. While IC Markets provides technical analysis tools from Autochartist, Interactive Brokers shines by offering market research insights from TipRanks and research tools from Acuity Trading, like Signal Centre.
Both platforms include comprehensive economic calendars forecasting global events; however, Interactive Brokers edges ahead with a perfect research rating of five stars compared to IC Markets' four stars. Interactive Brokers is highly rated in the industry with a third-place ranking for research among 63 brokers on ForexBrokers.com, whereas IC Markets stands at 23rd. This positions Interactive Brokers as the preferred option for those requiring extensive market research capabilities.
| Feature |
Interactive Brokers
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | 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.
Interactive Brokers and IC Markets both consider education a priority, specifically catering to beginners interested in forex and CFDs. Each broker provides a wealth of resources, including at least ten educational articles, videos, and archived webinars focused on these subjects. For those who prefer live learning, both platforms offer at least one online educational client webinar per month and maintain a searchable archive of past sessions, allowing newcomers to learn at their own pace. However, Interactive Brokers provides a particularly strong offering, winning five stars in educational resources and ranking #3 out of 63 brokers in the Education category according to ForexBrokers.com. Meanwhile, IC Markets still delivers valuable content but holds a slightly lower rating of four stars and ranks #16.
Both platforms also offer beginner and advanced educational videos, each with at least ten options tailored to beginners and experienced traders. The inclusion of a comprehensive investor dictionary with definitions of over 50 investing terms further enriches the educational experience on both platforms. While Interactive Brokers edges ahead with a slightly higher star rating and better rank for education, IC Markets is commendable for its solid framework designed to guide new traders. Whether you're a novice or refining existing skills, each broker offers substantial educational material to aid your trading journey.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than IC Markets. Interactive Brokers finished with an overall rank of #2, while IC Markets finished with an overall rank of #20.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Interactive Brokers allows the purchase of actual cryptocurrency and cryptocurrency derivatives, while IC Markets offers access only to cryptocurrency derivatives, not actual cryptocurrency.
When comparing funding and withdrawal options, Interactive Brokers supports ACH/SEPA transfers and bank wires but does not facilitate transactions through PayPal, Skrill, or Visa/Mastercard, whereas IC Markets offers a broader range including PayPal, Skrill, Visa/Mastercard, and bank wires, but lacks ACH/SEPA support.
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 | Interactive Brokers | IC Markets | |
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| Trust Score | 99 | 84 | |
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| Review | Interactive Brokers Review | IC Markets Review |
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| Regulation | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1977 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | 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) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 3583 | |
| Forex Pairs (Total) | 90 | 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 | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 0.62 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $200 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | IC Markets Review |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | IC Markets Review |
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