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 stands out as a top-tier contender in terms of commissions and fees, earning a 5-star rating and ranking #5 out of 62 brokers on ForexBrokers.com. The broker is celebrated for its competitive trading costs, rivaling other low-cost brokers like IG and CMC Markets. IC Markets offers three account types: the commission-free Standard account, and two commission-based accounts, Raw Spread and cTrader Raw Spread. Traders using the cTrader platform benefit from slightly lower commissions at $3.0 per side for every 100,000 units, compared to $3.5 per side on the MetaTrader Raw Spread account. Overall, IC Markets provides low effective spreads, with an average spread of 0.02 pips on EUR/USD for its cTrader account, which is quite enticing for cost-conscious traders.
On the other hand, Spreadex, with a 4-star rating and ranking #27 out of 62 brokers, offers a different landscape in commissions and fees. The broker's average spreads for EUR/USD were recorded at 0.81 pips as of January 2024, with 60% of the time reaching a minimum spread of 0.6 pips. While Spreadex does not match the ultra-competitive spread offerings of IC Markets, it still positions itself as a viable option for traders, particularly those prioritizing simplicity and ease of use.
In summary, IC Markets is highly appealing for traders seeking competitive spreads and low commissions, especially for those trading in larger volumes. It offers attractive fee structures across its various platforms and account types. Conversely, Spreadex, while not achieving the same level of competitiveness, provides a straightforward trading experience that may meet the needs of traders less focused on minimizing costs. Both brokers have their strengths, but IC Markets leads in cost-effectiveness among the two.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | 0.81 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and Spreadex both offer traders the opportunity to engage in forex trading through CFDs or spot contracts. When it comes to the variety of tradeable symbols, Spreadex holds a significant advantage with 10,000 options compared to IC Markets' 3,583. However, in terms of tradeable forex pairs, IC Markets provides a slightly wider selection with 61 pairs versus Spreadex's 52. Neither broker offers the chance to buy actual stocks on U.S. exchanges, and while IC Markets allows clients to purchase exchange-traded securities on international exchanges, this option is unavailable with Spreadex.
Cryptocurrency trading at both brokers is limited to derivatives, as neither supports the purchase of actual coins. IC Markets does provide copy trading, a feature not available with Spreadex. Despite these differences, Spreadex earns a perfect five-star rating and ranks higher at 13th position for its range of investments, while IC Markets receives a 4.5-star rating and ranks 25th. Ultimately, traders seeking a broader variety of tradeable symbols might lean towards Spreadex, whereas those interested in features like international securities and copy trading could find IC Markets more appealing.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 10000 |
| Forex Pairs (Total) | 61 | 52 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | No |
| 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 it comes to comparing trading platforms and tools, IC Markets and Spreadex each bring something unique to the table. IC Markets provides a comprehensive trading experience with options like MetaTrader 4 and 5, a variety of drawing tools, and capabilities like copy trading through ZuluTrade. Both platforms offer simulated trading through free demo accounts, perfect for beginners seeking practice without financial risks. IC Markets offers both web-based and Windows-based desktop trading, whereas Spreadex operates with a proprietary web-based platform that eschews the traditional desktop download. IC Markets shines with its copy trading features and a total of seven customizable columns for watch lists.
While both brokers have earned a four-star rating for their trading platforms and tools, they do have distinct features that set them apart. Spreadex stands out with its proprietary platform and slightly more robust watch list options, offering eight columns for a detailed trading overview. Nevertheless, it lacks the famous MetaTrader suite and copy trading options found at IC Markets. Both platforms allow trading directly from stock charts, a feature that enhances user interaction and ease. In the overall rankings by ForexBrokers.com, IC Markets surpasses Spreadex, coming in at #16 out of 62 brokers, while Spreadex holds the #46 spot, highlighting IC Markets' extensive features and popularity among traders.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 58 |
| Charting - Drawing Tools (Total) | 15 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IC Markets and Spreadex provide comprehensive mobile trading apps for iPhone and Android users. They excel in offering essential features like price alerts and the ability to draw trend lines on stock or forex charts. While both apps support viewing multiple time frames, IC Markets goes a step further by offering an impressive 30 technical studies for charting, compared to Spreadex, which does not specify a number. Moreover, IC Markets auto-saves drawings on charts, adding convenience, unlike Spreadex. Unfortunately, neither platform syncs watchlist symbols between the mobile app and online account, a feature that could enhance user experience.
Creating a watchlist with real-time quotes is available on both platforms, ensuring traders have up-to-date information at their fingertips. Despite both receiving a four-star rating for their mobile apps, IC Markets holds a better rank at #22 according to ForexBrokers.com, while Spreadex trails at #46. This difference in rank reflects subtle yet significant distinctions in functionality and user-friendliness, which could be a deciding factor for traders seeking a more feature-rich mobile trading experience.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IC Markets and Spreadex both cater to traders by providing a broad array of market research tools. They each offer daily market commentary and forex news from well-respected sources like Bloomberg, Reuters, and Dow Jones, ensuring you stay informed with accurate market insights. Both brokers also provide sentiment-based trading tools, allowing traders to gauge the ratio of long and short positions across various instruments, along with comprehensive economic calendars that keep traders updated on global news events. For those interested in technical and fundamental analysis, IC Markets and Spreadex both leverage tools from Autochartist, but IC Markets edges ahead by also incorporating Trading Central's technical analytics into its offerings.
In terms of research quality, IC Markets and Spreadex are evenly matched, each earning a solid four out of five stars from ForexBrokers.com. However, IC Markets is ranked slightly higher in the research category, coming in at 23 out of 62 brokers compared to Spreadex's 31st position. Despite both platforms not engaging with research services like TipRanks or Acuity Trading, they maintain a competitive edge by equipping traders with essential and reliable research resources to make informed trading decisions. Whether you choose IC Markets or Spreadex, you can expect a strong foundation of market insights to support your trading strategy.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at IC Markets and Spreadex, both platforms offer a substantial number of materials related to forex and CFDs, meeting the minimum requirement of 10 educational pieces. However, IC Markets distinguishes itself by conducting regular online webinars each month, while Spreadex does not provide this feature. IC Markets also provides a searchable archive of past webinars, which can be a valuable tool for new traders wanting to learn at their own pace. On the other hand, Spreadex lacks this resource.
Both IC Markets and Spreadex offer educational videos tailored for beginners, but IC Markets takes it a step further by also offering advanced trading videos for experienced traders. In terms of additional resources, both brokers provide investor dictionaries with definitions for at least 50 investment-related terms. Despite both receiving a 4-star rating for their educational offerings, IC Markets is ranked higher, positioned at #16, while Spreadex is ranked at #45 out of 62 brokers by ForexBrokers.com. This higher ranking indicates a slight edge in overall educational quality and breadth, making IC Markets a better pick for those looking for extensive educational opportunities.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| 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 62 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 #20, while Spreadex finished with an overall rank of #39.
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
|
Spreadex
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 84 | 71 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both IC Markets and Spreadex do not provide the option to buy actual cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives.
When comparing online brokers, IC Markets offers more diverse deposit and withdrawal options including PayPal, Skrill, Visa, Mastercard, and bank wires, whereas Spreadex provides only Visa, Mastercard, and bank wires, lacking support for PayPal and Skrill.
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 | Spreadex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Spreadex Review |
| Broker Screenshots | IC Markets | Spreadex | |
|---|---|---|---|
| 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 | 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 (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 | No |
| Tier-2 Licenses (Trusted) | IC Markets | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 10000 | |
| Forex Pairs (Total) | 61 | 52 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | Spreadex | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 8 | |
| Charting - Indicators / Studies (Total) | 30 | 58 | |
| Charting - Drawing Tools (Total) | 15 | 11 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | IC Markets | Spreadex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Spreadex Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill