Written by ForexBrokers.com
In this head to head comparison of IC Markets vs IronFX, 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 IronFX are both well-established online brokers, with IC Markets founded in 2007 and IronFX in 2010. Neither broker is publicly traded nor operates as a bank. When it comes to regulatory licenses, IC Markets holds two Tier-1 licenses, which ForexBrokers.com considers highly trusted. IronFX, on the other hand, holds three Tier-1 licenses, indicating a similar level of trust according to the same rating service.
The Trust Score rating by ForexBrokers.com gives IC Markets a score of 84 out of 99, classifying it as a trusted broker. IronFX has a slightly lower score of 83 but still falls within the trusted category. Both brokers lack Tier-2 licenses, which highlights their focus on maintaining the highest level of regulatory oversight available. These ratings serve as a useful guide for investors seeking reliable trading partners in the online brokerage space.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Year Founded | 2007 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When it comes to commissions and fees, IC Markets stands out as a cost-effective option compared to IronFX. IC Markets offers three account types, including a commission-free Standard account and two commission-based options: the Raw Spread and cTrader Raw Spread accounts. Notably, the cTrader account offers lower commissions at $3.0 per side for every 100,000 units, compared to $3.5 per side for the MetaTrader Raw Spread account. Their average EUR/USD spread is 0.02 pips, which remains competitive even after including commission costs. This platform proves advantageous for active traders, who also benefit from discounts after trading substantial volumes. Overall, IC Markets boasts a 5-star rating and is ranked 5th out of 63 brokers for commissions and fees.
In contrast, IronFX shows room for improvement in its pricing structure, with spreads appearing higher than the industry average. For instance, their Standard variable spread account lists a typical spread of 1.8 pips. While they offer a zero fixed-spread account starting at zero, it comes with a significant $18 per lot commission, and spreads widen to 3 pips overnight. This makes IronFX a less competitive choice in terms of cost-effectiveness. IronFX holds a 4-star rating and is ranked 47th out of 63 brokers in the Commissions and Fees category.
In summary, IC Markets provides more favorable trading conditions with lower spread and commission costs, particularly benefitting active traders who can benefit from volume discounts. On the other hand, IronFX has higher spreads and substantial commissions, placing it lower in overall rankings and making IC Markets a better choice for those prioritizing low-cost trading.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Minimum Deposit | $200 | $50 |
| Average Spread EUR/USD - Standard | 0.62 | 1.2 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts [DELETED] | ||
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) [DELETED] | ||
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and IronFX both support forex trading via CFDs or spot contracts. IC Markets lists 3,583 tradeable symbols, far more than IronFX’s 340. That said, IronFX offers more currency choice with 83 forex pairs compared to 61 at IC Markets, so IronFX is stronger on FX pairs while IC Markets spans more markets overall.
Neither broker lets you buy U.S.-listed shares outright, and both focus on CFDs. IC Markets does offer access to some international exchange-traded shares (not CFDs), while IronFX does not. Both provide copy trading and crypto derivatives, but neither supports purchasing actual cryptocurrency. For range of investments, ForexBrokers.com rates IC Markets 4.5/5 stars (ranked 26th of 63) and IronFX 3.5/5 stars (ranked 52nd of 63).
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 340 |
| Forex Pairs (Total) | 61 | 83 |
| 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.
IC Markets and IronFX both check key boxes for everyday traders: each offers a free demo account for simulated trading, Windows desktop and web-based platforms, MetaTrader 4 (MT4), and the ability to place trades directly from charts. Copy trading is available at both brokers. Neither broker provides its own in-house platform. One notable difference is platform choice: IC Markets also supports MetaTrader 5 (MT5), while IronFX does not. Specifics such as the number of technical indicators, drawing tools, and watchlist fields weren’t provided.
Independent reviews reflect a gap in this category: IC Markets earns 4 stars and ranks 16th out of 63 brokers for Trading Platforms and Tools on ForexBrokers.com, while IronFX scores 3.5 stars and ranks 62nd. If MT5 access and a higher third-party platform score matter to you, IC Markets may be the more attractive option; if you only need MT4 plus copy trading on desktop and web, IronFX covers those basics.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade [DELETED] | ||
| ZuluTrade [DELETED] | ||
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) [DELETED] | ||
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields [DELETED] |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets vs IronFX: both brokers offer mobile trading apps for iPhone and Android. In either app you can set forex and stock price alerts and create watchlists with real-time quotes. One limitation is that watchlist symbols don’t sync between mobile and your online account for both brokers, so changes made on your phone won’t appear on the web platform.
For charting, IC Markets and IronFX each include 30 technical indicators, trendline drawing, and automatic saving of your chart annotations. According to ForexBrokers.com, IC Markets earns 4 out of 5 stars and ranks 22nd out of 63 brokers for Mobile Trading Apps, while IronFX scores 3.5 stars and ranks 63rd. If you want higher-rated mobile trading without giving up core features, IC Markets has the edge.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | ||
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IC Markets vs. IronFX: both brokers deliver daily market commentary, an economic calendar, and forex news from top-tier sources like Bloomberg/Reuters/Dow Jones (or similar). Each also integrates Trading Central for technical analysis. In our research ratings, both score 4 out of 5 stars; however, IC Markets ranks 23rd out of 63 brokers for Research, while IronFX ranks 29th.
Key differences: IC Markets adds Autochartist plus a sentiment tool that shows long/short positioning across markets—features IronFX does not provide. IC Markets does not include TipRanks or Acuity Trading; IronFX’s support for TipRanks or Acuity isn’t confirmed. If you want extra technical and sentiment tools, IC Markets has an edge; if you mainly need daily insights and a dependable calendar with headline news, both brokers fit the bill.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Client sentiment data | Yes | No |
| TipRanks | No | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets vs IronFX education for beginners: both brokers provide at least 10 beginner-friendly trading videos that cover core topics. IC Markets also runs monthly client webinars, while IronFX does not offer these live sessions. A searchable archive of past webinars isn’t specified for either broker. As you progress, IC Markets offers at least 10 advanced videos, whereas IronFX does not. Despite both earning 4 out of 5 stars for Education, IC Markets ranks 16th out of 63 brokers, compared with IronFX at 44th.
It isn’t specified whether either broker meets the threshold of 10 or more general forex/CFD education pieces, and the availability of an investor dictionary with 50+ terms is also not indicated. If you want live learning and a clear path from beginner to advanced topics, IC Markets is the stronger choice. If you only need beginner videos to get started with forex and CFD education, both IC Markets and IronFX can work.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | ||
| Webinars | Yes | No |
| Client Webinars (Archived) [DELETED] | ||
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) [DELETED] |
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 IronFX. IC Markets finished with an overall rank of #20, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 83 |
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Both IC Markets and IronFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
IC Markets vs IronFX: neither broker supports ACH or SEPA transfers to deposit or withdraw funds, both provide bank wire and Skrill, only IC Markets supports PayPal while IronFX does not, and Visa/Mastercard availability is not specified for either.
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 | IronFX | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | IronFX | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | IC Markets | IronFX | |
|---|---|---|---|
| Trust Score | 84 | 83 | |
| Year Founded | 2007 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| 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 | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 340 | |
| Forex Pairs (Total) | 61 | 83 | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.2 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | IronFX | |
|---|---|---|---|
| Minimum Deposit | $200 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | IronFX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | IC Markets | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IC Markets | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | ||
| Client sentiment data | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | IronFX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | IC Markets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
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| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
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