Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare IC Markets vs Markets.com.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. IC Markets received a rating of 4.00 stars over Markets.com's 3.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. IC Markets alongside Markets.com are regulated in a major hub. Markets.com is a publicly traded company, IC Markets isn't. How many currency pairs are available to trade? Markets.com trails IC Markets by 8 total currency pairs (for example, EUR/USD), with IC Markets offering 63 and Markets.com offering 55.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. Both IC Markets and Markets.com offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. IC Markets and Markets.com offer the same number of charting tools, 31. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, IC Markets takes the upper hand with 4.00 stars over Markets.com's 3.50 stars. And, when it comes to individual category awards, neither IC Markets nor Markets.com were rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.