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 |
In a comparison of online brokers IC Markets and IronFX, IC Markets stands out due to its competitive trading costs and flexible account options. With three regulatory entities available worldwide, IC Markets offers commission-free Standard accounts as well as commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader Raw Spread account features a lower commission fee of $6.00 per round turn when trading 100,000 units compared to the MetaTrader Raw Spread account at $7.00. IC Markets lists an attractive average spread of 0.02 pips on the EUR/USD pair, and its all-in trading costs remain competitive, which helps it earn a five-star rating and rank fifth out of 63 brokers for commissions and fees.
Conversely, IronFX is working to improve its pricing as its trading costs are higher than the industry average. The Standard variable spread account typically has a spread of 1.8 pips, with variations depending on the account type. For those opting for the zero fixed-spread account, trading costs include a significant $18 per lot commission, though spreads widen to 3 pips overnight. This positions IronFX with a four-star rating and a 46th ranking in the same category.
Overall, IC Markets emerges as the lower-cost choice, praised for its low effective spreads and flexible platform options, while IronFX may need to adjust its fees and commissions to better compete within the industry.
| 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 | Yes | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and IronFX both allow traders to engage in forex trading using CFDs or spot contracts. IC Markets offers a considerable advantage by providing a greater variety of tradeable symbols with 3,583 options, compared to only 340 available through IronFX. While IronFX surpasses IC Markets in the number of forex pairs offered, with 83 compared to 61, IC Markets distinguishes itself by offering access to exchange-traded securities on international exchanges, whereas IronFX does not provide this option. However, both brokers do not offer exchange-traded securities on U.S. exchanges nor the ability to purchase actual cryptocurrencies, focusing instead on cryptocurrency derivatives.
Both IC Markets and IronFX provide the capability for copy trading, allowing clients to mimic the trading strategies of other investors. Despite these similarities, IC Markets shines brighter in terms of investment range as evidenced by its rating of 4.5 stars compared to 3.5 stars for IronFX. This distinction is further highlighted by IC Markets' higher ranking of 25th out of 63 brokers in the Range of Investments category, while IronFX sits at the 51st position. These differences suggest that while both brokers cater well to forex and CFD traders, IC Markets offers a wider array of investment opportunities for those seeking greater variety.
| 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.
Both IC Markets and IronFX provide their users with a suite of trading platforms and tools, ensuring flexibility and ease of use for traders of various experience levels. Both brokers offer simulated trading through free virtual demo accounts, allowing users to practice without risking real money. While neither broker offers a proprietary platform, they provide the renowned MetaTrader 4 (MT4) platform, and IC Markets additionally offers MetaTrader 5 (MT5). Furthermore, both brokers support trading on Windows desktop and web-based platforms. When it comes to copying trading strategies, IC Markets facilitates this with ZuluTrade, while IronFX does not offer this option. Both brokers equip traders with 15 drawing tools for charting, offer the ability to trade directly from stock charts, and provide seven columns for watch lists, ensuring detailed monitoring of market moves.
IC Markets has the upper hand in terms of platform support and functionality, earning it a Trading Platforms and Tools rating of 4 stars, compared to IronFX's 3.5 stars. Additionally, IC Markets ranks significantly higher, positioned at #16 out of 63 brokers assessed by ForexBrokers.com, while IronFX is placed at #61. Traders considering these brokers may find IC Markets' offerings more comprehensive, especially for those seeking advanced platform features and an integrated trading experience through ZuluTrade and the latest MetaTrader version, MT5.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary 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 | 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.
Both IC Markets and IronFX offer mobile trading apps compatible with iPhone and Android devices, making it easy to trade stocks and forex on the go. These apps provide features such as price alerts, the ability to draw trendlines, and support for viewing multiple time frames, which cater to the needs of active traders. While IC Markets and IronFX both deliver real-time watchlist creation and automatic chart drawing saves, neither offers watchlist symbol syncing between the mobile app and the online account.
In terms of charting capabilities, both IC Markets and IronFX present 30 technical studies to assist traders in their analyses. Despite these similarities, IC Markets edges out IronFX with a mobile app rating of 4 stars compared to IronFX's 3.5 stars. Furthermore, according to ForexBrokers.com, IC Markets ranks #22 out of 63 brokers for its mobile trading app, while IronFX is placed at #62. This distinction indicates a stronger user preference towards IC Markets' mobile app experience.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| 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.
When it comes to market research, both IC Markets and IronFX provide traders with daily market commentary and forex news from leading sources like Bloomberg and Reuters. However, a key difference lies in the availability of technical analysis tools from Autochartist. IC Markets offers these tools, enhancing their research offerings for users seeking detailed market insights, while IronFX does not provide this feature. Both platforms do offer resources from Trading Central, ensuring that traders have access to valuable technical analytics to inform their trading strategies.
Furthermore, IC Markets distinguishes itself by offering a sentiment-based trading tool that provides insights into trader behavior across different instruments, a feature not available with IronFX. Both brokers provide economic calendars to track significant global news events. Despite these differences, both IC Markets and IronFX receive a respectable four out of five stars for research, though IC Markets is ranked slightly higher at 23rd compared to IronFX's 28th position out of 63 brokers on ForexBrokers.com. This indicates a slight edge for IC Markets in overall research offerings.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| 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 IronFX take significant strides to ensure newcomers have access to essential learning materials. IC Markets and IronFX each offer over 10 educational pieces like articles, videos, and archived webinars focused on forex and CFDs. IC Markets steps ahead with its commitment to hosting monthly online educational webinars, while IronFX falls short in this area. Both platforms provide archives of recorded webinars, giving traders the benefit of revisiting past learning sessions. For those just starting out, each broker presents 10 or more videos tailored specifically for beginner traders.
However, IC Markets also caters to advanced learners with educational videos suited for experienced traders, a feature not matched by IronFX. Both brokers supply an investor dictionary with over 50 trading terms, aiding in the comprehension of complex topics. Despite both receiving a four-star rating for their educational efforts, IC Markets edges out IronFX in rankings by ForexBrokers.com, positioned at #16 compared to IronFX's #44. This distinction underlines IC Market’s broader range of resources and commitment to catering to traders at all levels.
| Feature |
IC Markets
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| 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 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 |
|
|
| Trust Score | 84 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both IC Markets and IronFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
When comparing online brokers IC Markets and IronFX, neither offers ACH or SEPA transfers for account funding, but IC Markets supports PayPal whereas IronFX does not; both brokers accept Visa, Mastercard, Skrill, and bank wire transfers for depositing and withdrawing funds.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IC Markets | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
| Broker Screenshots | IC Markets | IronFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| 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) | No | No | |
| 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) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| 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 | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | IronFX | |
|---|---|---|---|
| Proprietary 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 | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 83 | |
| Winner | check_circle | ||
| Review | IC Markets Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill