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 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and Trade Nation both provide online platforms for forex trading through CFDs or spot contracts, catering to different investor needs with their range of available investments. IC Markets stands out by offering a more extensive variety of options, boasting 3,583 tradeable symbols, including 61 forex pairs, whereas Trade Nation provides a more limited selection of 1,000 tradeable symbols and 46 forex pairs. Despite both platforms not offering the ability to purchase U.S. exchange-traded securities directly, IC Markets gives investors an edge by allowing access to international exchanges like the London Stock Exchange, which Trade Nation does not offer.
Both brokers accommodate modern trading needs with features such as copy trading and access to cryptocurrency derivatives, yet neither facilitates purchasing the actual cryptocurrency. When compared, IC Markets receives a higher rating for its range of investments, earning 4.5 stars and ranking 25th out of 63 brokers. In contrast, Trade Nation scores 3.5 stars and is positioned 38th in the same ranking, reflecting a narrower range of investment opportunities.
| 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 (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 IC Markets and Trade Nation, both brokers provide a range of trading platforms and tools catering to diverse trading needs. IC Markets offers well-known platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Trade Nation supports MT4 but not MT5. Both platforms allow for simulated trading with free virtual demo accounts. Unlike IC Markets, Trade Nation boasts a proprietary trading platform, providing a unique in-house experience. Both brokers also support Windows desktop downloads and web-based trading, ensuring flexible access for all users.
IC Markets and Trade Nation each offer copy trading, although their offerings diverge when it comes to specific features. IC Markets supports ZuluTrade, while Trade Nation does not. Charting capabilities show some variation, with IC Markets offering 15 drawing tools compared to Trade Nation's 39. Moreover, IC Markets allows its users to trade directly from a stock chart, a feature Trade Nation lacks. Watch list customization is more extensive in Trade Nation, offering 14 columns compared to IC Markets' 7. Evaluated for trading platforms and tools, both brokers receive 4 out of 5 stars; however, IC Markets holds a higher ranking (#16) than Trade Nation (#44) according to ForexBrokers.com.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary 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 |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 115 |
| Charting - Drawing Tools (Total) | 15 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 7 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IC Markets and Trade Nation cater to iPhone and Android users, ensuring accessibility across devices. Both brokers offer essential features like stock and forex price alerts and the ability to draw trendlines, create real-time watchlists, and view multiple time frames on charts. However, a key difference lies in their watchlist syncing capabilities. Trade Nation allows watchlists to sync between the mobile app and an online account, a feature not offered by IC Markets. This can be a deciding factor for traders who value seamless transitions between platforms.
Chart enthusiasts might find Trade Nation more appealing, as it boasts 99 technical studies on its app compared to IC Markets' 30. Both apps auto-save chart drawings, which is convenient for traders who frequently update their analyses. Despite these differences, both apps have received a solid four-star rating for their mobile trading experience. However, they rank differently on ForexBrokers.com, with IC Markets standing at #22 and Trade Nation at #45 out of 63 brokers. This ranking difference highlights IC Markets' slightly better standing in the competitive landscape of mobile trading platforms.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 99 |
| 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.
When comparing IC Markets and Trade Nation in terms of market research, both brokers provide daily market commentary and access to forex news from top-tier sources. However, IC Markets stands out with its array of analytical tools, offering resources like Autochartist and Trading Central for both technical and fundamental analysis. In contrast, Trade Nation does not provide these particular tools, but it compensates with access to Acuity Trading's Signal Centre, an area where IC Markets falls short. Both platforms offer sentiment-based trading tools to gauge market positions, yet IC Markets provides an additional advantage with its economic calendar, which Trade Nation lacks.
In terms of overall research rating, IC Markets earns 4 stars while Trade Nation scores 3.5 stars. This distinction is mirrored in their respective rankings among 63 brokers on ForexBrokers.com, where IC Markets holds the #23 spot, and Trade Nation is positioned at #42. This ranking reflects the broader range of research tools and functionalities IC Markets offers, making it a more comprehensive choice for those placing a premium on research capabilities in their trading endeavors.
| 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 |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When evaluating the educational resources for beginners, IC Markets stands out compared to Trade Nation. Both brokers provide over ten educational materials such as articles, videos, and webinars focusing on forex and CFDs, ensuring beginners have a wealth of resources to get started. However, IC Markets offers additional learning opportunities with monthly client webinars and a comprehensive searchable archive of past webinars. This feature provides an extended learning platform that Trade Nation does not match, as it lacks regular client webinars and an archive of sessions.
IC Markets further enhances its educational offerings with dedicated beginner and advanced videos tailored to traders at different levels, matched by Trade Nation. Both brokers offer an investor dictionary with concise explanations of over 50 investing terms. However, the superior educational outreach and resources earn IC Markets a higher rating of 4 stars compared to Trade Nation's 3.5 stars in the ForexBrokers.com evaluation. Moreover, IC Markets ranks significantly higher at #16 in the education category compared to Trade Nation’s #41, demonstrating its broader and more effective educational support for traders.
| Feature |
IC Markets
|
Trade Nation
|
|---|---|---|
| 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 | 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 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
|
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.
When comparing online brokers, IC Markets and Trade Nation both offer Skrill, Visa, Mastercard, and bank wires for depositing and withdrawing funds, but IC Markets also provides the option to use PayPal, whereas neither broker supports ACH or SEPA transfers.
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) | 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 | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| 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 (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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 0.6 | |
| All-in Cost EUR/USD - Active | 0.62 | 0.6 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | IC Markets | Trade Nation | |
|---|---|---|---|
| Proprietary 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 | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 14 | |
| Charting - Indicators / Studies (Total) | 30 | 115 | |
| Charting - Drawing Tools (Total) | 15 | 39 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile 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 | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | No |
| Education | IC Markets | Trade Nation | |
|---|---|---|---|
| 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 | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | Trade Nation | |
|---|---|---|---|
| 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 | 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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