GMG Markets vs IC Markets Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - GMG Markets or IC Markets?
Our pick: IC Markets
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - IC Markets looks preferable to GMG Markets.
IC Markets scored 4.7/5 and ranks 4 in our all Forex brokers list, whereas GMG Markets has 4/5 and ranks 52.
This is not financial advice. See the full comparison below.
Who is GMG Markets suitable for?
GMG Markets suits active Forex traders and scalpers who value FCA regulation, MT5, and low spreads; however, it may feel restrictive for investors and stock enthusiasts.
Who is IC Markets suitable for?
IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.
Comparison Table of GMG Markets and IC Markets
| Broker | GMG Markets | IC Markets |
|---|---|---|
| Rating | 4/5 | 4.7/5 |
| Foundation Year | 2015 | 2007 |
| Regulated in Countries | United Kingdom | Seychelles, Australia, Cyprus, Kenya |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:30 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | GMG Markets Review | IC Markets Review |
GMG Markets Review
GMG Markets is a niche broker primarily designed for active FX traders, scalpers, and algorithmic traders who only need two well-optimized accounts. The MT5 platform provides a comprehensive toolkit for both manual and automated trading, Autochartist supplements basic technical analysis, and 24/5 support responds swiftly and effectively.
This broker is ideal for those who appreciate transparent fees, swift fund withdrawals, and FCA regulation but do not require an extensive product lineup or copy trading services. Novice traders can test the live markets and undergo basic training via webinars, whereas professionals can access leverage up to 1:200 under Pro status. Investors, diversification enthusiasts, or those needing a multitude of platforms and services might be better served by more versatile providers.
Pros and Cons of GMG Markets
Pros
- Robust regulation — FCA license, segregated accounts, FSCS protection.
- Transparent fee structure — Standard account with zero commission, Raw account with zero spreads and fixed fee.
- MT5 + Autochartist — comprehensive desktop, web, and mobile platforms, algorithm support, integrated chart pattern scanner.
- VPS hosting — complimentary with required monthly turnover.
- 24/5 tech support — chat, phone, and e-mail typically respond within minutes.
Cons
- Limited instrument selection — only Forex, a few indices, and commodities.
- Single platform offering — no MT4, cTrader, TradingView, or proprietary web terminal.
- No e-wallets or cryptocurrencies available for transactions.
- Investor services are lacking — no copy trading, PAMM, contests, or comprehensive fundamental analysis.
GMG Markets 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 | GMG Markets | IC Markets |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2015 | 2007 |
| Regulated in Countries | United Kingdom | Seychelles, Australia, Cyprus, Kenya |
| Regulators |
GMG Markets
Since 2016 under FCA oversight, GMG Markets holds client funds in segregated accounts and qualifies for FSCS protection.
Pros
- FCA License — Tier-1 regulator
- Funds segregation + FSCS compensation up to £85,000
- STP/NDD model without dealer intervention
Cons
- Single jurisdiction (FCA), no additional licenses
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 | GMG Markets | IC Markets |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
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GMG Markets
GMG Markets onboarding is quick and efficient: registration takes 5–7 minutes, with verification under 1 business day.
Pros
- Online registration in 5–7 minutes
- Document verification within 1 day
Cons
- Detailed KYC form
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 | GMG Markets | IC Markets |
|---|---|---|
| Account Types | 3.8/5 | 3.8/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:30 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
GMG Markets
Only two main accounts — Standard and Raw Spread — cater to basic requirements, but the absence of cent or fixed-spread accounts, copy trading, PAMM, and contest services limits variety.
Pros
- Commission-free Standard, and zero-spread Raw account
- Islamic account and spread-betting options for niche segments
- Complimentary VPS with required turnover
Cons
- No cent/fixed-spread account
- Lack of copy trading, PAMM, contests
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 | GMG Markets | IC Markets |
|---|---|---|
| Commissions | 4/5 | 4.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.2 | 0.62 |
| Commission per Lot | $3.5 | $3.5 |
GMG Markets
GMG Markets offers a transparent fee structure: one account includes all charges within the spread, while another charges a small fee with a minimal spread. Deposits and withdrawals are free, no inactivity fee is applied, though swaps are slightly above average.
Pros
- No inactivity fees
- Free deposits and withdrawals
Cons
- Swaps are above average
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 | GMG Markets | IC Markets |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
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GMG Markets
Card and bank transfers are swift and fee-free, but the absence of e-wallets and cryptocurrencies limits options.
Pros
- Commission-free transactions
- Instant card funding
Cons
- No e-wallets
- No cryptocurrencies
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 | GMG Markets | IC Markets |
|---|---|---|
| Markets and Products | 2.5/5 | 5/5 |
| Forex | 64 | 61 |
| Precious Metals | 13 | 7 |
| Energy Carriers | 3 | 5 |
| Indices | 17 | 25 |
| Soft Commodities | - | 8 |
| Stocks | - | 2175 |
| ETF | - | 38 |
| Bonds | - | 10 |
| Cryptocurrency | - | 21 |
GMG Markets
The instrument range is limited: primarily currency pairs, indices, and commodities; with no stocks, cryptocurrencies, or a broad commodity selection, diversification falls short compared to competitors.
Pros
- 64 currency pairs
- Major indices and metals
Cons
- No CFDs on stocks
- No cryptocurrencies
- Limited commodity selection
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 | GMG Markets | IC Markets |
|---|---|---|
| Rating | 3.5/5 | 5/5 |
| Trading Platforms |
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GMG Markets
The sole available platform, MT5, offers rich functionality, but the lack of alternatives reduces flexibility.
Pros
- Fully featured MT5
- Desktop, web, and mobile applications
Cons
- No MT4, cTrader, TradingView
- Essentially a single platform option
IC Markets
IC Markets provides powerful and functional trading platforms suitable for various trader categories.
Analytics
| Broker | GMG Markets | IC Markets |
|---|---|---|
| Rating | 3/5 | 5/5 |
GMG Markets
Autochartist and a daily news feed provide basic analysis, but the lack of proprietary research and in-depth fundamental analysis diminishes overall utility.
Pros
- Complimentary Autochartist
- Market news
Cons
- No proprietary research
- Weak fundamental analysis
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 | GMG Markets | IC Markets |
|---|---|---|
| Rating | 4/5 | 5/5 |
GMG Markets
The foundational materials (webinars, articles, videos) are sufficient for beginners, but for in-depth learning and advanced coursework, external resources may be needed.
Pros
- Regular free webinars
- Novice-oriented article base
- Recordings available 24/7
Cons
- No advanced courses
- No podcasts or multilingual programs
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 | GMG Markets | IC Markets |
|---|---|---|
| Rating | 4.5/5 | 4.7/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
LinkedIn
Twitter
InstagramGMG Markets
The broker provides 24/5 support via chat, phone, and e-mail, with responses typically within minutes.
Pros
- Online chat and phone support 24/5
- Rapid response
- Competent representatives
Cons
- No weekend support
- Delays during peak demand
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
Comparisons of GMG Markets and IC Markets with other brokers
Conclusion
IC Markets stands out as the better overall pick, while GMG Markets trails on aggregate criteria.
IC Markets scored 4.7/5 and ranks 4 in our rating; GMG Markets has 4/5 and ranks 52.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: GMG Markets or IC Markets?
IC Markets comes out ahead by overall rank (score 4.7/5, position 4) versus GMG Markets (score 4/5, position 52).
Which broker is better for beginners: GMG Markets or IC Markets?
IC Markets is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — GMG Markets or IC Markets?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with GMG Markets and IC Markets?
GMG Markets: MetaTrader 5. IC Markets: MetaTrader 5, MetaTrader 4, cTrader, TradingView. See the “Platforms” section for details and selection tips.
What markets can you trade with GMG Markets and IC Markets?
GMG Markets: Forex, Precious Metals, Energy Carriers, Indices. IC Markets: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by GMG Markets and IC Markets?
GMG Markets: Standard, RAW Spread. IC Markets: Standard, Raw Spread cTrader, Raw Spread. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by GMG Markets and IC Markets?
GMG Markets: Bank Transfer, Visa, Mastercard. IC Markets: PayPal, Neteller, Skrill, Bpay, FasaPay, Klarna, Swift, SEPA, Visa, Mastercard, UnionPay, POLi, Rapidpay. Check method-specific fees/settlement times.
Which broker is safer — GMG Markets or IC Markets — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
