Written by ForexBrokers.com
In this head to head comparison of Swissquote vs IC Markets, 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.
Swissquote, founded in 1996, stands as a publicly traded entity with banking status, which contributes to its high level of trust and reliability. Holding five Tier-1 licenses and two Tier-2 licenses, Swissquote is strongly regulated, resulting in an impressive Trust Score of 99 out of 99 according to ForexBrokers.com. This positions Swissquote as not just a broker but also a financial institution that is highly trusted by its users, offering a sense of security for those seeking to invest with confidence.
Founded in 2007, IC Markets is known for its competitive offerings but isn't publicly traded and doesn't hold a banking license. While IC Markets holds two Tier-1 licenses, it lacks any Tier-2 licenses, which results in a ForexBrokers.com Trust Score of 84 out of 99. This score places IC Markets within the "trusted" category, offering a bit more risk than Swissquote, yet still maintaining a solid framework for those engaging in online brokerage activities.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Year Founded | 1996 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing the commissions and fees of Swissquote and IC Markets, potential traders will notice a significant difference in pricing dynamics. Swissquote, with its various entities, offers unique account options depending on the location, such as the U.K., Luxembourg, and Switzerland. While the U.K. entity boasts the lowest trading costs among the three ($5 charge per round-turn trade for the Elite account), spreads can vary widely from as low as 0.6 pips to as high as 1.7 pips depending on the account type and location. However, despite its varied offerings, Swissquote maintains a star rating of 3.5 out of 5 and ranks #53 in the Commissions and Fees category among 63 brokers.
IC Markets, by contrast, is celebrated for its competitive pricing and low trading costs, earning it the Best in Class award in the Commissions & Fees category. Offering both commission-free and commission-based accounts, IC Markets provides an attractive range of spreads. For instance, its cTrader Raw Spread account has a commission of $6.00 per round turn and lists average spreads starting at 0.02 pips on the EUR/USD. The Standard account offers average spreads at a competitive 0.62 pips and is completely commission-free. This pricing strategy offers a strong appeal to traders, contributing to its 5-star rating and impressive #5 ranking in the Fees category.
In summary, while Swissquote offers the credibility of associating with a Swiss banking institution, it charges higher trading costs compared to more competitive brokers. In contrast, IC Markets stands out as an economical choice for traders with its lower spreads and versatile account types, providing significant cost savings and earning high accolades in the trading community.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $1000 | $200 |
| Average Spread EUR/USD - Standard | N/A | 0.62 |
| All-in Cost EUR/USD - Active | N/A | 0.62 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| 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.
When comparing Swissquote and IC Markets in terms of their range of investments, each platform has unique strengths. Swissquote offers a broad array of 472 tradeable symbols, including 80 forex pairs. It distinguishes itself by allowing direct access to U.S. and international exchanges for purchasing securities like Apple shares on the NASDAQ and Vodafone shares on the London Stock Exchange. Swissquote also provides the ability to buy actual cryptocurrency alongside derivatives, contributing to its top-tier rating of five stars for investment range and an impressive 2nd place ranking out of 63 on ForexBrokers.com.
IC Markets, while offering a larger pool of 3583 tradeable symbols, provides 61 forex pairs and relies primarily on CFDs rather than direct security purchases. Although it lacks access to U.S. stock exchanges for direct equity trading, it does support international exchange-traded securities and cryptocurrency derivatives. Like Swissquote, IC Markets offers copy trading; however, it does not provide the capability to purchase actual cryptocurrencies. With a 4.5-star rating and a 25th place ranking in the Range of Investments category on ForexBrokers.com, IC Markets offers a solid alternative for those primarily interested in comprehensive CFD trading.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 472 | 3583 |
| Forex Pairs (Total) | 80 | 61 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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 trading platforms and tools, Swissquote and IC Markets both offer a solid choice for investors seeking comprehensive options. Both brokers provide free virtual demo accounts, which allow traders to practice and refine their strategies without financial risk. While Swissquote impresses with its proprietary platform developed in-house, IC Markets opts for industry-standard platforms but still supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), just like Swissquote. Additionally, both companies offer Windows-based desktop download platforms and web-based trading options, ensuring traders can access their accounts from various devices.
Swissquote stands out with an array of 75 drawing tools for charting, offering traders a robust toolkit for detailed analysis, while IC Markets provides 15 drawing tools. However, IC Markets has a unique edge with ZuluTrade support, which Swissquote lacks, making it appealing for those interested in social trading. Both brokers support copy trading and allow trading directly from stock charts, helping traders execute decisions promptly. In terms of customization, Swissquote provides 11 columns for watch lists compared to IC Markets' 7. Rated 4.5 stars for its platforms and tools, Swissquote ranks #12 out of 63 brokers, slightly ahead of IC Markets, which is rated 4 stars and ranks #16 in the same category by ForexBrokers.com.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | 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 | No | Yes |
| Charting - Indicators / Studies (Total) | 86 | 30 |
| Charting - Drawing Tools (Total) | 75 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Swissquote and IC Markets both offer convenient mobile trading apps for iPhone and Android users, with functionalities designed to meet the needs of active traders. Both platforms support essential features like stock or forex price alerts and the ability to create watchlists with real-time quotes. Charting enthusiasts will find that each app provides 30 technical studies, as well as capabilities to draw trendlines and view multiple time frames on charts. Additionally, any drawings created on charts in both apps are automatically saved, enhancing user experience.
However, neither Swissquote nor IC Markets currently offers watchlist symbol syncing, which means changes made on mobile are not mirrored on their online platforms. Despite these similarities, users looking at performance ratings might prefer Swissquote, which scores 4.5 out of 5 stars compared to IC Markets' 4 stars. Swissquote also ranks higher in ForexBrokers.com's Mobile Trading Apps category, placing at #12, while IC Markets holds the #22 position. These distinctions might influence traders seeking a slightly more acclaimed mobile trading experience.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| 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.
Both Swissquote and IC Markets excel in providing traders with a range of insightful market research tools, each offering daily market commentary and access to top-tier forex news from sources like Bloomberg and Reuters. Users of both platforms benefit from the sophisticated functionalities of Autochartist, ensuring access to valuable technical and fundamental research tools. However, IC Markets adds an extra layer with its inclusion of Trading Central tools and a sentiment-based trading tool, which Swissquote does not offer.
When it comes to additional research capabilities, neither Swissquote nor IC Markets provides market research from TipRanks or tools from Acuity Trading. Both platforms feature economic calendars to keep investors aware of global economic events. Each broker holds a strong research rating of 4 stars, but in rankings, Swissquote is placed higher at #16 compared to IC Markets at #23 according to ForexBrokers.com. This subtle difference can guide traders in selecting the most suitable platform for their research needs.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | 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 helping beginners learn about forex and CFDs trading, both Swissquote and IC Markets provide comprehensive educational resources. Each platform offers over ten educational materials, including articles, videos, and archived webinars focused on these topics, making them suitable for users who are new to online trading. Additionally, both brokers hold educational webinars each month and maintain easy-to-navigate archives of past sessions, which is a great advantage for continuous learning.
Beginners can find a variety of educational videos specifically tailored to their needs through both Swissquote and IC Markets, with more than ten videos available for each audience. For those seeking advanced knowledge, both platforms similarly offer educational content designed for experienced traders, including more than ten advanced videos. Alongside these offerings, both platforms provide an investor dictionary listing over 50 investing terms, supporting traders as they grow their understanding. With both brokers having a four-star rating in education, IC Markets is slightly ahead, ranking #16, compared to Swissquote's #21, among 63 brokers on ForexBrokers.com.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| 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 Swissquote is better than IC Markets. Swissquote finished with an overall rank of #11, while IC Markets finished with an overall rank of #20.
Traders choose Swissquote for its quality research and vast multi-asset offering – as long as they are willing to pay a premium to have their brokerage account held with a Swiss bank.
| Feature |
Swissquote
|
IC Markets
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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Swissquote allows users to purchase actual cryptocurrencies as well as cryptocurrency derivatives, offering a more diverse trading experience compared to IC Markets, which limits users to cryptocurrency derivatives only.
When comparing online brokers Swissquote and IC Markets, both platforms provide convenient fund transfer options including PayPal, Skrill, Visa, Mastercard, and bank wires, but Swissquote uniquely offers ACH and SEPA transfers, unlike IC Markets.
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 | Swissquote | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Swissquote Review | IC Markets Review |
| Broker Screenshots | Swissquote | IC Markets | |
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| Regulation | Swissquote | IC Markets | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1996 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 5 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Swissquote | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | 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) | Swissquote | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Swissquote | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 472 | 3583 | |
| Forex Pairs (Total) | 80 | 61 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Swissquote | IC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.62 | |
| All-in Cost EUR/USD - Active | N/A | 0.62 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Swissquote | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $1000 | $200 | |
| 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 | Yes | No |
| Trading Platforms | Swissquote | IC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | Swissquote | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 86 | 30 | |
| Charting - Drawing Tools (Total) | 75 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Swissquote | IC Markets | |
|---|---|---|---|
| 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 | Swissquote | IC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Swissquote | IC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | Swissquote | IC Markets | |
|---|---|---|---|
| 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 | Swissquote Review | IC Markets Review |
| Overall | Swissquote | IC Markets | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Swissquote Review | IC Markets Review |
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