FXOpen vs IC Markets Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of FXOpen and IC Markets
| Broker | FXOpen | IC Markets |
|---|---|---|
| Rating | 4.3/5 | 4.7/5 |
| Foundation Year | 2004 | 2007 |
| Regulated in Countries | United Kingdom, Cyprus, Australia | Seychelles, Australia, Cyprus, Kenya |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | FXOpen Review | IC Markets Review |
Broker FXOpen is suitable for professional traders and scalping enthusiasts but may not be ideal for beginners due to the lack of training.
IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.
FXOpen Review
FXOpen is a highly regulated broker with licenses from leading international bodies, which guarantees the safety of investments and compliance with strict standards. The broker offers a wide range of trading instruments, allowing traders to diversify their portfolios. Low spreads and commissions make FXOpen an attractive choice for those looking for a cost-effective trading environment. The availability of various platforms gives traders the flexibility to choose a trading instrument.
FXOpen is ideal for experienced traders who can analyze the market independently and make informed trading decisions without significant educational support. The broker is especially attractive to those who seek variety in trading tools and prefer to use advanced trading platforms.
Pros and Cons of FXOpen
Pros
- Wide range of trading assets.
- Low spreads and commissions.
- Support for various trading platforms.
Cons
- Lack of educational materials.
FXOpen is in the top 10 of the following ratings:
IC Markets Review
IC Markets is a reliable and versatile broker that offers a wide range of services and tools for trading in the financial markets. The company provides impressive trading instruments, high-quality trading platforms, advanced analytical tools, and valuable education for traders of all levels.
IC Markets is likely most suitable for experienced traders who value deep liquidity, tight spreads, and advanced trading tools. Beginner traders can also benefit from the educational materials offered by the company, but they should be prepared for some additional expenses and a higher minimum deposit requirement.
Pros and Cons of IC Markets
Pros
- A wide range of trading assets.
- Low spreads.
- Variety of trading platforms.
- Quality educational materials.
- Efficient customer support service.
Cons
- High minimum deposit.
IC Markets is in the top 10 of the following ratings:
Reliability
| Broker | FXOpen | IC Markets |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2004 | 2007 |
| Regulated in Countries | United Kingdom, Cyprus, Australia | Seychelles, Australia, Cyprus, Kenya |
| Regulators | - FCA FCA CySEC CySEC ASIC ASIC | SFSA SFSA ASIC ASIC CySEC CySEC CMA CMA |
FXOpen
FxOpen is a reliable and regulated broker, licensed in many countries, ensuring the safety of funds and a high standard of services.
IC Markets
IC Markets operates under the regulation of several jurisdictions, including ASIC in Australia, CySEC in Cyprus, and SFSA in the Seychelles, indicating a high degree of regulation.
Account Opening
| Broker | FXOpen | IC Markets |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
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FXOpen
FxOpen provides a simple and convenient account opening process, with an emphasis on security and compliance with regulatory requirements.
IC Markets
The account opening process at IC Markets is well-thought-out, transparent, and detailed, ensuring convenience and ease for clients. However, the high minimum deposit may deter many beginners.
Account Types
| Broker | FXOpen | IC Markets |
|---|---|---|
| Account Types | 5/5 | 3.8/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
FXOpen
FxOpen offers a wide selection of trading accounts and additional services.
IC Markets
IC Markets' accounts are mainly aimed at experienced and professional traders.
Pros
- ECN accounts
- Ability to copy trades
- Access to VPS
Cons
- No cent accounts
- No fixed spread accounts
Commissions
| Broker | FXOpen | IC Markets |
|---|---|---|
| Commissions | 3/5 | 4.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.2 | 0.62 |
| Commission per Lot | $3.5 | $3.5 |
FXOpen
FxOpen's commissions are average in the market, with competitive spreads, but high swap rates and inactivity fees.
IC Markets
IC Markets has low commissions. Fees for transactions on ECN accounts and spreads are acceptable to most traders, and the absence of charges for deposits/withdrawals and account inactivity is a significant advantage.
Deposit and Withdrawal
| Broker | FXOpen | IC Markets |
|---|---|---|
| Rating | 4.2/5 | 4.5/5 |
| Account Funding Methods |
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FXOpen
FxOpen offers a variety of deposit and withdrawal methods.
Pros
- A large selection of payment systems and cryptocurrencies.
- Fast processing of withdrawal requests.
Cons
- No bank transfer option.
- High commissions for credit cards from the provider.
IC Markets
IC Markets offers multiple options for depositing and withdrawing funds, but possible fees from banks and payment systems should be considered, along with some restrictions on withdrawal methods.
Markets and Products
| Broker | FXOpen | IC Markets |
|---|---|---|
| Markets and Products | 4.6/5 | 5/5 |
| Forex | 66 | 61 |
| Precious Metals | 3 | 7 |
| Energy Carriers | 3 | 5 |
| Indices | 12 | 25 |
| Stocks | 553 | 2175 |
| ETF | 56 | 38 |
| Cryptocurrency | 41 | 21 |
| Soft Commodities | - | 8 |
| Bonds | - | 10 |
FXOpen
FxOpen offers a good selection of assets but without soft commodities.
IC Markets
IC Markets offers various trading instruments, including currency pairs, CFDs on metals, energy resources, commodities, indices, stocks, bonds, and cryptocurrencies.
Trading Platforms
| Broker | FXOpen | IC Markets |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
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FXOpen
FXOpen offers a wide range of trading platforms, catering to different types of traders.
IC Markets
IC Markets provides powerful and functional trading platforms suitable for various trader categories.
Analytics
| Broker | FXOpen | IC Markets |
|---|---|---|
| Rating | 4/5 | 5/5 |
FXOpen
FXOpen provides a solid package of analytical tools, offering traders valuable resources for making trading decisions.
IC Markets
IC Markets provides its clients with an extensive set of analytical tools and materials, which can assist them in successful trading in the financial markets.
Education
| Broker | FXOpen | IC Markets |
|---|---|---|
| Rating | 2/5 | 5/5 |
FXOpen
FXOpen invests little in trader education, offering only basic articles and a glossary of terms.
IC Markets
IC Markets offers a wide range of educational resources, from interactive video lessons to webinars and podcasts, demonstrating care for their clients and a commitment to providing all the necessary resources for successful trading.
Customer Support
| Broker | FXOpen | IC Markets |
|---|---|---|
| Rating | 4.5/5 | 4.7/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
YouTube
Facebook
Twitter
Telegram
LinkedIn
Whatsapp
InstagramFXOpen
FXOpen offers reliable support, and a variety of communication channels adds flexibility.
IC Markets
IC Markets provides a variety of communication channels, ensuring support service accessibility for clients. Numerous client reviews indicate the support team's quick response and high professionalism.
Pros
- Positive reviews about professional support
- Multiple channels for support communication
- Support is available 24/7
Cons
- Only international call option is available
