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IC Markets vs Interactive Brokers 2019

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Is IC Markets better than Interactive Brokers? After assessing forex brokers on nearly 100 different variables, Interactive Brokers is better than IC Markets. Professional traders and highly experienced investors looking for a complete multi-asset broker will find Interactive Brokers offers a comprehensive platform with competitive fees across multiple global financial markets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature IC Markets Interactive Brokers
Overall 4 4
IC Markets Review Interactive Brokers Review
74-89% of retail CFD accounts lose money 63.5% of retail CFD accounts lose money

Regulation

Feature IC Markets Interactive Brokers
Trust Score 72 91
Year Founded
2007 1977
Publicly Traded (Listed)
No Yes
Bank
No No
Tier-1 Licenses
1 5
Tier-2 Licenses
0 0
Tier-3 Licenses
0 0
Authorised in the European Union
No Yes

Tier-1 Licenses

Feature IC Markets Interactive Brokers
ASIC Authorised (Australia)
Yes No
IIROC Authorised (Canada)
No Yes
SFC Authorised (Hong Kong)
No Yes
FSA Authorised (Japan)
No Yes
MAS Authorised (Singapore)
No No
FINMA Authorised (Switzerland)
No Yes
FCA Authorised (UK)
No Yes
CFTC Registered (USA)
No Yes

Tier-2 Licenses

Feature IC Markets Interactive Brokers
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSB Authorised (South Africa)
No No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
No No

Tier-3 Licenses

Feature IC Markets Interactive Brokers
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
Offshore Authorised
No No

Investments

Feature IC Markets Interactive Brokers
Forex: Spot Trading
Yes Yes
Currency Pairs (Total Forex pairs)
63 115
CFDs - Total Offered
41 6100
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3 4.5
Winner check_circle

Cost

Feature IC Markets Interactive Brokers
Average Spread EUR/USD - Standard
1.1 (as of May 18) N/A
All-in Cost EUR/USD - Active
0.7 (as of May 18) N/A
Active Trader or VIP Discounts
No Yes
Commissions & Fees 4 4
Winner check_circle

Funding

Feature IC Markets Interactive Brokers
Minimum Initial Deposit
$200 $0
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes No
PayPal (Deposit/Withdraw)
Yes No
Skrill (Deposit/Withdraw)
Yes No

Trading Platforms

Feature IC Markets Interactive Brokers
Proprietary Platform
No Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes No
Social Trading / Copy-Trading
Yes No
MetaTrader 4 (MT4)
Yes No
MetaTrader 5 (MT5)
Yes No
cTrader
Yes No

Trading Tools

Feature IC Markets Interactive Brokers
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 300
Charting - Indicators / Studies (Total)
51 121
Charting - Drawing Tools (Total)
31 9
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4 4
Winner check_circle

Mobile Trading

Feature IC Markets Interactive Brokers
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
No Yes
Charting - Indicators / Studies
30 68
Charting - Draw Trend Lines
Yes No
Charting - Trend Lines Moveable
No No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
No Yes
Forex Calendar
No No
Mobile Trading 3.5 4
Winner check_circle

Research

Feature IC Markets Interactive Brokers
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
No Yes
Weekly Webinars
No No
AutoChartist
No No
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Trading / Copy-Trading
Yes No
Social Sentiment - Currency Pairs
No No
Economic Calendar
Yes Yes
Research 2 3.5
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Education

Feature IC Markets Interactive Brokers
Has Education - Forex
Yes Yes
Has Education - CFDs
No Yes
Client Webinars
No Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
No No
Videos - Advanced Trading Videos
No Yes
Investor Dictionary (Glossary)
Yes Yes
Tutorials/Guide (PDF or Interactive)
No Yes
Education 4 4
Winner check_circle

Major Forex Pairs

Feature IC Markets Interactive Brokers
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
No Yes
USDCNH (or CNHUSD)
Yes Yes
USDSGD (or SGDUSD)
Yes Yes

Overall

Feature IC Markets Interactive Brokers
IC Markets Review Interactive Brokers Review
Overall 4 4
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After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare IC Markets vs Interactive Brokers.

To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Both IC Markets and Interactive Brokers are rated 4.00 stars.

Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. IC Markets alongside Interactive Brokers are regulated in a major hub. Interactive Brokers is a publicly traded company, while IC Markets is not. As far as how many currency pairs are available for trading, here's the answer. Interactive Brokers offers its clients access to 115 different currency pairs while IC Markets has 63 available pairs, a difference of 52.

Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. IC Markets makes Meta Trader available to clients, while Interactive Brokers does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. IC Markets boasts an offering of 31 charting tools compared to Interactive Brokers's 9 available charting tools. Interactive Brokers boasts an offering of 121 different indicators (for example, moving averages) compared to IC Markets's 51 available indicators.

IC Markets Review
Interactive Brokers Review


Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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