GMG Markets vs IC Markets Comparison

Since 2016 under FCA oversight, GMG Markets holds client funds in segregated accounts and qualifies for FSCS protection.

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.

GMG Markets onboarding is quick and efficient: registration takes 5–7 minutes, with verification under 1 business day. However, a $200 deposit and extensive KYC may deter beginners.

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.

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.

IC Markets' accounts are mainly aimed at experienced and professional traders.

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.

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.

Card and bank transfers are swift and fee-free, but the absence of e-wallets and cryptocurrencies limits options.

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.

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.

IC Markets offers various trading instruments, including currency pairs, CFDs on metals, energy resources, commodities, indices, stocks, bonds, and cryptocurrencies.

The sole available platform, MT5, offers rich functionality, but the lack of alternatives reduces flexibility.

IC Markets provides powerful and functional trading platforms suitable for various trader categories.

Autochartist and a daily news feed provide basic analysis, but the lack of proprietary research and in-depth fundamental analysis diminishes overall utility.

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.

The foundational materials (webinars, articles, videos) are sufficient for beginners, but for in-depth learning and advanced coursework, external resources may be needed.

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.

The broker provides 24/5 support via chat, phone, and e-mail, with responses typically within minutes.

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.