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 |
When it comes to commissions and fees, IC Markets stands out as a top contender, achieving a 5-star rating and clinching the 5th spot out of 63 brokers according to ForexBrokers.com. Known for its low trading costs, IC Markets offers various account types that support both commission-free and commission-based structures. The commission-free Standard account charges solely on spread, while the Raw Spread accounts linked to cTrader and MetaTrader platforms impose commissions of $3.0 and $3.5 per side per 100,000 units respectively. With IC Markets, you can expect exceptionally low effective spreads, such as an average spread on the EUR/USD currency pair pegged at approximately 0.02 pips (with additional commissions leading to all-in costs of 0.62 pips on cTrader and 0.72 on MetaTrader), making it a highly competitive choice for traders.
In comparison, Spreadex offers a solid alternative with its 4-star rating and a 27th-place ranking in the same category. The broker's average spread for EUR/USD in January 2024 was 0.81 pips, achieving a minimum spread of 0.6 pips 60% of the time during that month. While not as low as IC Markets, Spreadex provides a reliable spread offering suitable for traders who prioritize a straightforward spread-based cost structure.
Choosing between IC Markets and Spreadex largely depends on your trading needs and platform preferences. IC Markets may appeal more to those wanting lower effective spreads and are comfortable with commission-based accounts, especially for active traders who can benefit from additional discounts. On the other hand, Spreadex can be appealing for those who prefer a simpler spread structure without additional commissions, even if it means slightly higher spreads in comparison.
| 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.
When it comes to the variety of investments available, both IC Markets and Spreadex offer compelling options for traders, though they differ significantly in reach and offerings. Spreadex boasts a broader range with over 10,000 tradeable symbols, surpassing IC Markets, which offers 3,583 symbols. However, in the realm of forex, IC Markets stands out with 61 tradeable forex pairs compared to Spreadex's 52 pairs. Both brokers provide opportunities for forex trading via CFDs or spot contracts, although Spreadex earns a slight edge with a perfect five-star rating for its range of investments, compared to IC Markets' 4.5-star rating.
For investors looking to buy on international exchanges, IC Markets offers an advantage by allowing trades of exchange-traded securities—such as Vodafone—while Spreadex does not. However, neither offers direct access to U.S. exchange-traded shares. Moreover, IC Markets includes additional features such as copy trading, which is absent in Spreadex's offerings. Both platforms provide options for trading cryptocurrency derivatives but do not support the purchase of actual cryptocurrencies. Overall, while Spreadex ranks higher by ForexBrokers.com at #13 for range of investments, IC Markets, ranked #25, might appeal more to those interested in its international securities and copy trading features.
| 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 comparing the trading platforms and tools of IC Markets and Spreadex, both brokers provide simulated trading options via free virtual demo accounts, enabling traders to practice without financial risk. IC Markets, however, does not offer a platform developed in-house, whereas Spreadex features a proprietary platform, catering to those interested in a unique trading environment. IC Markets excels with its availability of the popular MetaTrader 4 and 5 platforms and ZuluTrade for copy trading, making it a suitable choice for traders seeking these specific options. In contrast, Spreadex lacks these integrations but provides a user-friendly web-based platform and offers four more fields for watch lists compared to IC Markets.
Both brokers enable trading directly from stock charts, with IC Markets offering more drawing tools (15) versus Spreadex’s 11. IC Markets also caters to Windows desktop users, while Spreadex focuses on web-based accessibility without a desktop download option. Rated equally at four stars for their trading platforms and tools, they still differ significantly in rankings by ForexBrokers.com, with IC Markets standing out at 16th place compared to Spreadex’s 46th. Thus, the choice between these two brokers might rest on preferences for specific platform features and ranking importance.
| 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 offer convenient mobile trading apps for iPhone and Android devices, enhancing the flexibility for trading on the go. Both platforms support essential features like stock and forex price alerts, trendline drawing on charts, and the ability to view multiple time frames. While both apps allow the creation of watchlists with real-time quotes, neither supports the syncing of watchlist symbols between the mobile app and the client's online account. IC Markets stands out for offering 30 technical studies in its charting, although Spreadex doesn't have specified offerings in this area.
IC Markets also has a slight edge with its auto-save feature for chart drawings, a functionality Spreadex lacks. In terms of user ratings, both platforms earn a respectable four stars out of five for their mobile trading apps. However, according to ForexBrokers.com, IC Markets ranks higher, situating at #22 out of 63 brokers, whereas Spreadex finds itself further back at #46. This suggests that while both offer competitive mobile trading experiences, IC Markets may provide slightly more advanced features and conveniences for traders seeking comprehensive mobile charting tools.
| 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.
When it comes to market research offerings, both IC Markets and Spreadex provide a comprehensive range of tools and resources to keep traders informed and equipped. Each platform offers daily market commentary and access to forex news from top-tier sources like Bloomberg and Reuters. They also both feature sentiment-based trading tools that highlight the ratio of long and short positions across various instruments.
Where IC Markets gains a slight edge is in its inclusion of Trading Central's technical analysis tools, which Spreadex lacks. Both brokers utilize Autochartist for analysis, and each presents an economic calendar for global news events. Neither offers research from TipRanks or Acuity Trading. Despite these similarities, IC Markets is ranked higher at #23 by ForexBrokers.com in the Research category, above Spreadex's position at #31, though both have a 4-star rating for research capabilities.
| 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 it comes to educational resources for beginners, IC Markets and Spreadex both offer a solid foundation with a variety of materials like articles, videos, and archived webinars focused on forex and CFDs. Both brokers deliver over ten educational resources for new traders. Where they start to differ is in their approach to webinars and video content. IC Markets excels with monthly online webinars, and a searchable archive of these sessions, providing an ongoing learning platform for clients. In contrast, Spreadex does not offer regular webinars or an archive, which could limit options for those who prefer learning through interactive sessions.
Both IC Markets and Spreadex provide more than ten beginner videos, catering specifically to newcomers navigating the markets. However, IC Markets further supports experienced traders with plenty of advanced video content, an area where Spreadex falls short. For a deeper understanding of trading jargon, both platforms include a detailed investor dictionary. With IC Markets and Spreadex earning similar education ratings of four stars, IC Markets has the edge in rankings, placed at 16 out of 63 brokers compared to Spreadex’s 45th position. This suggests that while both are user-friendly for beginners, IC Markets provides a more comprehensive educational experience for those looking to expand their trading knowledge.
| 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 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 #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 |
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| Trust Score | 84 | 71 |
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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.
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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 (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 | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Spreadex Review |
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