Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Trade Nation, 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, established in 2007, and Trade Nation, launched in 2014, are both reputable online brokers offering a high level of trust. Neither of the brokers is publicly traded or operates as a bank. According to ForexBrokers.com, IC Markets holds an impressive Trust Score rating of 84 out of 99, while Trade Nation slightly surpasses with a score of 85. These scores signify that both brokers are trusted partners for trading, with IC Markets holding two top-tier licenses and Trade Nation also possessing two such licenses, along with an additional Tier-2 license.
Both brokers demonstrate strong regulatory standing, with IC Markets and Trade Nation each secured by two Tier-1 licenses. While IC Markets has no Tier-2 licenses, Trade Nation's singular Tier-2 license adds to its credibility. Although close in Trust Scores and licensing, the choice between IC Markets and Trade Nation may come down to personal preference and specific trading needs, offering peace of mind in their regulatory compliance and trading security.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Year Founded | 2007 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
IC Markets and Trade Nation both emerge as competitive options for online trading, each with distinct strengths in commissions and fees. IC Markets, a standout performer in the low-cost forex sector, has a comprehensive offering with three account types: the commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader Raw Spread account offers slightly lower commissions than the Raw Spread account linked to MetaTrader, with fees ranging from $3.0 to $3.5 per side per standard lot. Despite the differences influenced by platform choice, the effective spreads are highly favorable for both accounts. Notably, IC Markets holds a 5-star rating and ranks 5th out of 63 brokers in the Commissions and Fees category.
Trade Nation, on the other hand, shines with its competitive fixed-spread pricing model, reducing complexity for traders by maintaining stable prices except during a brief daily rollover period. The EUR/USD pair is priced at a fixed spread of 0.6 pips, only temporarily widening to about 1.4 pips, giving it a distinct average spread closer to 1 pip. Trade Nation offers three account types, with the proprietary TN Trader platform providing the lowest spreads. While its MetaTrader-based accounts include a Raw Spread option similar to IC Markets with a $3.50 commission per side, the fixed-spread approach is a strong selling point. Trade Nation also boasts a 5-star rating, ranking 7th in the Commissions and Fees category among 63 brokers.
Both IC Markets and Trade Nation are highly rated for their cost-effective trading solutions. IC Markets offers versatile platform choices and highly competitive spreads, suitable for traders aiming for minimal trading costs. Meanwhile, Trade Nation excels with its straightforward, fixed-spread pricing strategy, eliminating the need for constant monitoring of fluctuating spreads. These brokers provide highly commendable options for traders seeking to minimize trading expenses without compromising on service quality.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average Spread EUR/USD - Standard | 0.62 | 0.6 |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets vs Trade Nation: For range of investments, IC Markets offers far more choice with 3,583 tradeable symbols and 61 forex pairs, compared with Trade Nation’s 1,000 symbols and 46 pairs. Both brokers support forex trading, and each provides copy trading. According to ForexBrokers.com, IC Markets earns 4.5 out of 5 stars for Range of Investments and ranks 26th out of 63 brokers, while Trade Nation scores 3.5 stars and ranks 39th.
If you want more markets under one roof, IC Markets stands out. It’s the only one of the two to offer direct access to international exchange-traded shares (not CFDs). Neither broker offers direct U.S. shares, and neither lets you buy actual crypto; however, both support cryptocurrency derivatives. In short, IC Markets is better for breadth and global share access, while Trade Nation covers the essentials with fewer markets.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 1000 |
| Forex Pairs (Total) | 61 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | 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.
IC Markets and Trade Nation both make it easy to get started with a free demo (paper) trading account, plus web-based and Windows desktop platforms for live trading. Each supports copy trading and MetaTrader 4 (MT4). IC Markets also offers MetaTrader 5 (MT5), while Trade Nation does not. Trade Nation provides its own in-house platform, whereas IC Markets relies on third-party platforms. If placing orders straight from charts matters to you, IC Markets supports chart trading; Trade Nation does not.
Both brokers earned 4 stars for Trading Platforms and Tools from ForexBrokers.com, yet their standings differ: IC Markets ranks #16 out of 63 brokers, while Trade Nation ranks #45. In short, pick IC Markets if you want MT5 and chart trading, or choose Trade Nation if you prefer using a proprietary platform alongside MT4.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 115 |
| Charting - Trade From Chart | Yes | No |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IC Markets and Trade Nation both offer mobile trading apps for iPhone and Android. Each app supports price alerts, real-time watchlists, trendline drawing, and auto-saving of chart drawings. A key difference is watchlist syncing: Trade Nation syncs symbols between the mobile app and your web platform, while IC Markets does not, which may matter if you switch devices often.
For charting, IC Markets includes 30 technical studies, whereas Trade Nation packs in 99, appealing to indicator-focused traders. Both earned 4 out of 5 stars for Mobile Trading Apps, but their standings differ: IC Markets is ranked #22 out of 63 brokers by ForexBrokers.com, and Trade Nation is #46. If you want more built-in indicators and synced watchlists, Trade Nation’s app is attractive; if overall standing matters more, IC Markets' app has the edge.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 99 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IC Markets and Trade Nation both cover the basics for market research: each publishes daily market commentary, offers forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, and provides a sentiment tool showing the long/short ratio across instruments. Neither broker includes research from TipRanks.
The differences are in the added tools. IC Markets includes Autochartist and Trading Central for technical and fundamental analysis, along with an economic calendar for upcoming global events. Trade Nation lacks Autochartist, Trading Central, and an economic calendar, but does offer research tools from Acuity Trading (e.g., Signal Centre). According to ForexBrokers.com, IC Markets is rated 4 stars for Research and ranks 23rd out of 63 brokers, while Trade Nation is rated 3.5 stars and ranks 43rd.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
For beginner traders comparing IC Markets vs Trade Nation education, both brokers deliver a solid catalog of video lessons: each offers at least 10 beginner videos plus 10 advanced videos on trading topics. IC Markets also runs online educational webinars at least once a month, giving newcomers a chance to ask questions in real time, while Trade Nation does not currently host monthly webinars. Details on whether either broker provides a searchable archive of past webinars, a larger forex/CFD education library beyond these videos, or an investor dictionary of 50+ terms were not specified.
Based on ForexBrokers.com’s research, IC Markets earns 4 stars for Education and ranks 16th out of 63 brokers, ahead of Trade Nation’s 3.5-star rating and 41st-place ranking. If live webinars and a higher overall education score matter to you, IC Markets is the better fit; if you mainly want on-demand beginner and advanced videos, both platforms can serve as a starting point.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | 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 Trade Nation. IC Markets finished with an overall rank of #20, while Trade Nation finished with an overall rank of #34.
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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Trade Nation
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 85 |
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Both IC Markets and Trade Nation provide the option to trade cryptocurrency derivatives, but neither broker supports the purchase of actual (delivered) cryptocurrency.
Comparing online brokers IC Markets vs Trade Nation for deposit and withdrawal methods: both offer Skrill and bank wire transfers but not ACH or SEPA, only IC Markets supports PayPal (Trade Nation does not), and Visa/Mastercard availability is not specified.
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 | Trade Nation | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Trade Nation Review |
| Broker Screenshots | IC Markets | Trade Nation | |
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| Regulation | IC Markets | Trade Nation | |
|---|---|---|---|
| Trust Score | 84 | 85 | |
| Year Founded | 2007 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Trade Nation | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC 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 | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 1000 | |
| Forex Pairs (Total) | 61 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | 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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.6 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | Trade Nation | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | IC Markets | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 115 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | IC Markets | Trade Nation | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Mobile Watchlists - Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | No |
| Research | IC Markets | Trade Nation | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | No |
| Education | IC Markets | Trade Nation | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IC Markets | Trade Nation | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD [DELETED] | |||
| Review | IC Markets Review | Trade Nation Review |
| Overall | IC Markets | Trade Nation | |
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| Trust Score | 84 | 85 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Trade Nation Review |
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