Written by ForexBrokers.com
In this head to head comparison of IC Markets vs RoboForex, 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 RoboForex are two online brokers that attract attention due to their regulatory frameworks and trust ratings. Founded in 2007, IC Markets holds two Tier-1 licenses, which are highly regarded, and carries a Trust Score of 84. Although IC Markets isn't publicly traded or a bank, its licensing bolsters user confidence. In comparison, RoboForex, established in 2009, holds one Tier-1 license and has a Trust Score of 73. Like IC Markets, RoboForex is neither publicly traded nor operates as a bank.
The difference in their Trust Scores indicates that IC Markets falls into the "trusted" category, while RoboForex resides in the "average risk" bracket, according to ForexBrokers.com. Therefore, when evaluating these brokers, potential users may consider IC Markets as moderately more secure based on its higher Trust Score and additional Tier-1 licensing.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| Year Founded | 2007 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
When comparing IC Markets and RoboForex, IC Markets stands out with its highly competitive trading costs, which put it in the top ranks among low-cost forex brokers. Its diverse account offerings include the commission-free Standard account with a spread-only model and two commission-based options: Raw Spread and cTrader Raw Spread accounts. While the cTrader account charges a commission of $3.0 per side for every 100,000 units, the MetaTrader Raw Spread account is slightly higher at $3.5 per side. IC Markets boasts an effective spread on the EUR/USD as low as 0.62 pips with the cTrader account, making it a cost-efficient choice for active traders. Moreover, the broker offers additional discounts to those trading over 100 standard lots monthly. With a stellar 5-star rating for commissions and fees, IC Markets secures a notable #5 ranking in this category out of 63 brokers evaluated by ForexBrokers.com.
RoboForex, on the other hand, presents a less enticing structure for commissions and fees, primarily reflected in its higher average spreads. On flagship accounts like Procent and Pro, the EUR/USD pairs show average spreads of around 1.3 pips. This makes RoboForex less competitive concerning trading costs, especially when juxtaposed with IC Markets. Although RoboForex provides reliable services, its 3.5-star rating and #55 ranking from ForexBrokers.com in the commissions and fees category highlight areas for potential improvement, especially in comparison to industry leaders like IC Markets.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $200 | $100 |
| Average Spread EUR/USD - Standard | 0.62 | 1.3 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
The breadth of investment options available at IC Markets and RoboForex presents notable distinctions for traders. IC Markets offers both CFD and spot forex trading with a diverse collection of 3,583 tradeable symbols, including 61 tradeable forex pairs. While IC Markets does not provide access to exchange-traded securities on U.S. exchanges, it does allow trading on international exchanges. Additionally, both platforms support copy trading and offer cryptocurrency derivatives, although neither currently supports purchasing actual cryptocurrencies. IC Markets achieves a 4.5-star rating for its range of investments, ranking 25th among 63 brokers according to ForexBrokers.com.
RoboForex excels with an extensive suite of 8,400 tradeable symbols, despite offering fewer tradeable forex pairs at just 28. Similar to IC Markets, RoboForex provides CFD and spot forex trading as well as access to cryptocurrency derivatives but does not facilitate the purchase of exchange-traded securities, whether U.S.-based or international. RoboForex also supports copy trading. This broker matches IC Markets' 4.5-star rating for its range of investments, securing a slightly higher rank of 20th in the same ForexBrokers.com assessment, highlighting some differences in their investment offerings while both stand strong in their comprehensive trading environments.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 8400 |
| Forex Pairs (Total) | 61 | 28 |
| 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.
When comparing the trading platforms and tools offered by IC Markets and RoboForex, both brokers present a solid range of features suitable for traders. Both provide a free virtual demo account, ensuring newcomers can test the waters before committing money. With offerings like MetaTrader 4 and MetaTrader 5, traders have access to popular software for executing trades. Each broker supports desktop and web-based platforms, allowing flexible access from various devices. Notably, IC Markets sets itself apart by offering ZuluTrade for copy trading, while RoboForex does not.
Charting capabilities at both IC Markets and RoboForex include 15 drawing tools and the ability to trade directly from charts, offering traders a competent set of options for analysis. Additionally, watch lists are customizable with seven columns to arrange data as users prefer. Despite both brokers receiving a four-star rating for their platforms and tools, IC Markets is ranked higher at 16th compared to RoboForex's 43rd position, suggesting a slightly more favorable reception among industry reviewers.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 | Yes |
| 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 |
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IC Markets and RoboForex both offer versatile mobile trading apps available for iPhone and Android users, ensuring that traders can access markets easily on the go. Both apps provide crucial features such as stock and forex price alerts, the ability to draw trendlines, and the option to view multiple time frames on charts, making them well-equipped for technical analysis. Additionally, each app allows users to create watchlists with real-time quotes and automatically saves any drawings made on stock or forex charts. However, it's important to note that neither app currently supports watchlist symbol syncing between the mobile application and the user's online account.
When it comes to technical charting, both IC Markets and RoboForex offer a solid selection of 30 technical studies on their mobile apps, catering to traders who rely on in-depth analysis. Despite their similarities in functionalities and features, IC Markets slightly edges out RoboForex in user rankings, with a 4-star rating and a position of #22 in the mobile trading apps category by ForexBrokers.com. In comparison, RoboForex also holds a 4-star rating but is ranked #43. This indicates that while both platforms offer reliable mobile trading experiences, IC Markets might have a slight advantage in overall user satisfaction and recognition within the trading community.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 comparing the market research offerings of IC Markets and RoboForex, both brokers present daily market commentary and deliver forex news from top-tier sources like Bloomberg and Reuters. Additionally, both provide essential tools and resources, but IC Markets shines with an edge in technical and sentiment analysis tools. IC Markets boasts the inclusion of research tools from Autochartist and sentiment analysis capabilities, ensuring traders benefit from a detailed view of market trends and positions. On the other hand, RoboForex, although lacking Autochartist and sentiment-based tools, gains a unique feature by offering research tools from Acuity Trading, providing traders with a different perspective.
Both brokers support traders with economic calendars to keep track of global financial events. Despite their similarities, IC Markets earns a higher research rating of four stars compared to RoboForex's 3.5 stars. This distinction is further highlighted by IC Markets' superior ranking at #23 compared to RoboForex, which stands at #37 in the Research category according to ForexBrokers.com. Traders looking for comprehensive analysis might find IC Markets a slightly more tailored fit, whereas those interested in unique features like Acuity Trading might consider RoboForex.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| 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 | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, IC Markets shines as a standout platform compared to RoboForex. IC Markets offers a wealth of learning materials that cater to both newcomers and seasoned traders. They provide a robust library of over 10 educational pieces focused on forex and CFDs, ensuring beginners have ample resources to get started. Additionally, IC Markets hosts monthly educational webinars and offers access to a searchable archive of recorded sessions, allowing users to learn at their own pace. Their commitment extends to an array of beginner videos, advanced trading videos, and an investor dictionary with over 50 investing terms, making it an excellent resource for continuous learning.
RoboForex, on the other hand, offers fewer educational materials tailored for beginners. While they provide some standard resources, they fall short by not offering online webinars or an extensive range of beginner-focused materials. Unlike IC Markets, RoboForex lacks a comprehensive searchable archive of webinars, and their library of educational videos remains limited for both beginners and advanced traders. Overall, while RoboForex still provides a decent educational foundation, IC Markets takes the lead in offering a more comprehensive and structured learning environment. These differences are reflected in their ratings, with IC Markets earning 4 stars compared to RoboForex's 3.5 stars, and their respective rankings of #16 and #56 out of 63 brokers on ForexBrokers.com for education resources.
| Feature |
IC Markets
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
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 RoboForex. IC Markets finished with an overall rank of #20, while RoboForex finished with an overall rank of #46.
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
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RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 73 |
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Both IC Markets and RoboForex do not offer the option to purchase actual delivered cryptocurrency, but both provide the ability to trade cryptocurrency derivatives.
IC Markets and RoboForex both support multiple funding and withdrawal methods, including PayPal, Skrill, Visa or Mastercard, and bank wires, but only RoboForex provides the option for ACH or SEPA transfers for account transactions.
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 | RoboForex | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | RoboForex Review |
| Broker Screenshots | IC Markets | RoboForex | |
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| Regulation | IC Markets | RoboForex | |
|---|---|---|---|
| Trust Score | 84 | 73 | |
| Year Founded | 2007 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | No | |
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 8400 | |
| Forex Pairs (Total) | 61 | 28 | |
| 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 | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.3 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | RoboForex | |
|---|---|---|---|
| Minimum Deposit | $200 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | RoboForex | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | IC Markets | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
| Overall | IC Markets | RoboForex | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | RoboForex Review |
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