Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Spreadex, 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 Spreadex are both online brokers that offer a range of financial services but differ considerably when it comes to their regulatory frameworks. Founded in 2007, IC Markets is considered a trusted broker by ForexBrokers.com with a Trust Score rating of 84 out of 99. This score reflects its possession of two Tier-1 licenses, which indicates a high level of trust in the financial industry. While IC Markets is not publicly traded nor a bank, it has managed to establish a reputation for reliability in a relatively short period.
Spreadex, founded in 1999, holds a Trust Score rating of 71 on ForexBrokers.com, placing it in the average risk category. Despite its longer presence in the market, Spreadex has only one Tier-1 license. Like IC Markets, it is neither publicly traded nor a bank. While both brokers are not listed on a stock exchange, their differing levels of regulatory oversight suggest IC Markets may offer more assurance when it comes to trustworthiness.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Year Founded | 2007 | 1999 |
| 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 | 0 |
IC Markets vs Spreadex: on commissions and fees, IC Markets earns 5 stars and ranks #5 of 63 (Best in Class for Commissions & Fees in the 2024 Annual Awards), while Spreadex earns 4 stars and ranks #25 of 63. The key takeaway is that IC Markets’ low all-in costs on EUR/USD and low deposit requirement for its commission-based accounts make it one of the most price-friendly choices among major forex brokers.
IC Markets’ pricing varies by account type, platform, and regulatory entity (Cyprus, Australia, or Seychelles). You can choose a commission-free Standard account (spread only) or go commission-based with Raw Spread (MT4/MT5) or cTrader Raw. Commissions are $3.00 per side per 100,000 units on cTrader ($6 round turn) and $3.50 per side on MT4/MT5 ($7 round turn). IC Markets lists an average raw spread of 0.02 pips on EUR/USD; after adding commission, the all-in cost is about 0.62 pips on cTrader or 0.72 pips on MetaTrader. The Standard account averages about 0.62 pips with no commission, and active traders who exceed 100 standard lots per month can qualify for discounts.
Spreadex reports an average EUR/USD spread of 0.81 pips in January 2024, with a 0.6‑pip minimum achieved 60% of the time. Compared side by side, those averages place Spreadex behind IC Markets for headline EUR/USD pricing. Still, Spreadex’s 4‑star rating and #25 ranking in Commissions & Fees reflect competitive costs for many traders.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average spread (EUR/USD) - Standard account | 0.62 | 0.81 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and Spreadex both let you trade forex (as CFDs or spot) and offer cryptocurrency via CFDs, but neither lets you buy actual crypto. Spreadex stands out for overall market breadth with about 10,000 tradeable instruments, compared with IC Markets’ 3,583. That wider lineup helps Spreadex earn 5 stars for Range of Investments and a #13 ranking out of 63 brokers, while IC Markets scores 4.5 stars and ranks #22.
If your focus is currencies, IC Markets lists more forex pairs (61 vs. 52 at Spreadex). IC Markets also lets you buy some exchange-traded international shares directly (not CFDs), though neither broker offers direct U.S. share dealing. Another differentiator: IC Markets supports copy trading, while Spreadex does not. In short, choose Spreadex for the broadest overall CFD selection, or go with IC Markets if you want more forex pairs, copy trading, and access to certain international shares.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 10000 |
| Forex Pairs (Total) | 61 | 52 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | 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 Spreadex both offer free demo accounts for practice. For platforms, Spreadex provides its own proprietary web platform, while IC Markets uses well-known third-party platforms. IC Markets supports a Windows desktop download and web trading, and offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Spreadex focuses on its web platform and does not provide a Windows desktop download or MetaTrader. Both brokers let you place trades directly from a chart.
In trading tools, IC Markets includes copy trading options, whereas Spreadex does not. Both brokers earn 4 stars for Trading Platforms and Tools from ForexBrokers.com, yet IC Markets ranks higher overall (#17 of 63) compared with Spreadex (#34 of 63). If you want MT4/MT5 and copy trading on desktop and web, IC Markets is the better fit; if you prefer a simple, in-house web experience, Spreadex may appeal.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 58 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and Spreadex both provide mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts and lets you draw trendlines on charts. However, neither broker currently syncs watchlists between the mobile app and your online account, so changes you make in one place won’t appear in the other.
For charting, IC Markets lists 30 built-in technical studies in its mobile app, while Spreadex does not publish a count. IC Markets also auto-saves your chart drawings; Spreadex does not. Both apps earned 4 out of 5 stars for Mobile Trading Apps, but IC Markets ranks higher overall in this category at #22 versus Spreadex at #33 out of 63 brokers, according to ForexBrokers.com. If you want more chart tools and saved annotations, IC Markets is the better fit; if you just need a straightforward app with alerts on iPhone or Android, either will do.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
IC Markets and Spreadex both deliver daily market commentary and stream forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones. Each broker also provides Autochartist for pattern recognition, a sentiment tool showing long/short positioning, and an economic calendar to track upcoming events. Neither broker includes TipRanks or research tools from Acuity Trading (Signal Centre).
The key difference is Trading Central: IC Markets offers Trading Central analysis, while Spreadex does not. Both earn 4 out of 5 stars for Research, but ForexBrokers.com ranks IC Markets higher (#21 of 63) than Spreadex (#27 of 63). If Trading Central is important to your workflow, IC Markets has a slight edge; otherwise, their research features are largely comparable.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets vs Spreadex for beginner education: both brokers offer at least 10 beginner-friendly trading videos, making it easy to learn the basics of forex and CFDs. IC Markets goes further by hosting monthly educational webinars, giving new traders a chance to learn live and ask questions. It also provides at least 10 advanced trading videos, which helps when you’re ready to move beyond the basics. Spreadex doesn’t run monthly webinars and doesn’t match IC Markets’ depth of advanced video content, though it still covers beginner topics well.
In independent reviews, both brokers earned 4 out of 5 stars for Education. That said, IC Markets ranks higher overall—16th out of 63 brokers—while Spreadex sits at 33rd. If you want a learning path that starts with simple lessons and grows with you, IC Markets has the edge. If you mainly need starter videos and don’t mind skipping webinars, Spreadex can still do the job.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 Spreadex. IC Markets finished with an overall rank of #21, while Spreadex finished with an overall rank of #32.
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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Spreadex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 71 |
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IC Markets vs Spreadex: neither broker allows purchases of actual (delivered) cryptocurrencies, but both offer cryptocurrency CFD trading.
IC Markets vs Spreadex: both brokers do not support ACH or SEPA transfers and both accept bank wire transfers; IC Markets additionally supports PayPal and Skrill while Spreadex does not, and support for Visa or Mastercard 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 | Spreadex | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Spreadex Review |
| Broker Screenshots | IC Markets | Spreadex | |
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| Regulation | IC Markets | Spreadex | |
|---|---|---|---|
| Trust Score | 84 | 71 | |
| Year Founded | 2007 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA 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 | No |
| Tier-2 Licenses (Trusted) | IC Markets | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 10000 | |
| Forex Pairs (Total) | 61 | 52 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | 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 | Spreadex | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.62 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | Spreadex | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | IC Markets | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 58 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | Spreadex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IC Markets | Spreadex | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Spreadex | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | IC Markets | Spreadex | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IC Markets Review | Spreadex Review |
| Overall | IC Markets | Spreadex | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Spreadex Review |
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