IC Markets vs MTrading 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 - IC Markets or MTrading?
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 MTrading.
IC Markets scored 4.7/5 and ranks 4 in our all Forex brokers list, whereas MTrading has 3.1/5 and ranks 63.
This is not financial advice. See the full comparison below.
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.
Who is MTrading suitable for?
MTrading is suitable for traders who prefer the MetaTrader 4 platform and a variety of instruments but are ready for potential risks due to lack of regulation.
Comparison Table of IC Markets and MTrading
| Broker | IC Markets | MTrading |
|---|---|---|
| Rating | 4.7/5 | 3.1/5 |
| Foundation Year | 2007 | 2011 |
| Regulated in Countries | Seychelles, Australia, Cyprus, Kenya | Saint Vincent and the Grenadines |
| Minimum Deposit |
|
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
|
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| Review | IC Markets Review | MTrading Review |
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:
MTrading Review
MTrading offers a variety of trading accounts that can meet the needs of traders with different levels of experience and capital sizes. The wide range of trading instruments available makes this broker attractive for traders seeking to diversify their investments. The copy trades service may also be of interest to beginners who want to profit by following the strategies of successful traders.
MTrading is suitable for new traders, especially those who want to try copying trades and working with various trading instruments on one platform.
Pros and Cons of MTrading
Pros
- Availability of different types of trading accounts.
- Wide range of trading assets.
- Own copy trading platform.
Cons
- Lack of licenses from reputable regulators.
- Limited choice of trading platforms.
- Only one method of communication with support service.
- Absence of some popular deposit and withdrawal methods.
- Sparse analytical and educational materials compared to competitors.
Reliability
| Broker | IC Markets | MTrading |
|---|---|---|
| Reliability | 5/5 | 2/5 |
| Foundation Year | 2007 | 2011 |
| Regulated in Countries | Seychelles, Australia, Cyprus, Kenya | Saint Vincent and the Grenadines |
| Regulators |
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.
MTrading
Broker MTrading is registered in a jurisdiction with limited regulation, which may raise concerns among investors.
Pros
- Company's reputation in the market.
- Measures to ensure the security of client funds.
Cons
- Lack of regulation by major financial authorities.
- Potential risks for investors due to weak regulation.
Account Opening
| Broker | IC Markets | MTrading |
|---|---|---|
| Account Opening | 4.5/5 | 5/5 |
| Minimum Deposit |
|
|
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.
MTrading
Opening an account with MTrading is a simple, convenient, and fast process.
Account Types
| Broker | IC Markets | MTrading |
|---|---|---|
| Account Types | 3.8/5 | 4.3/5 |
| Trading Accounts |
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| Minimum Deposit |
|
|
| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
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
MTrading
Broker MTrading offers a variety of accounts that meet the needs of different traders, but there are no accounts with fixed spreads.
Pros
- Wide selection for different levels of experience.
- Ability to start trading with small amounts.
- Availability of copy trading service.
Cons
- Absence of accounts with fixed spreads.
Commissions
| Broker | IC Markets | MTrading |
|---|---|---|
| Commissions | 4.5/5 | 1.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.62 | 1.3 |
| Commission per Lot | $3.5 | $4 |
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.
MTrading
MTrading's commissions are above the market average, which can affect the overall profitability of the trader.
Pros
- There are no withdrawal fees.
Cons
- Commission per trade on M.Pro is above average.
- Almost all swaps are negative.
- Additional commission for account inactivity.
Deposit and Withdrawal
| Broker | IC Markets | MTrading |
|---|---|---|
| Rating | 4.5/5 | 4/5 |
| Account Funding Methods |
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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.
MTrading
MTrading offers a limited selection of payment systems, but transactions are fast and commission-free.
Pros
- No commissions for depositing and withdrawing funds.
- Fast execution of payments.
- Support for cryptocurrency payments.
Cons
- Lack of popular methods such as bank transfer and credit cards.
Markets and Products
| Broker | IC Markets | MTrading |
|---|---|---|
| Markets and Products | 5/5 | 4/5 |
| Forex | 61 | 38 |
| Precious Metals | 7 | 5 |
| Energy Carriers | 5 | 3 |
| Soft Commodities | 8 | - |
| Indices | 25 | 10 |
| Stocks | 2175 | 87 |
| ETF | 38 | 9 |
| Bonds | 10 | - |
| Cryptocurrency | 21 | 12 |
IC Markets
IC Markets offers various trading instruments, including currency pairs, CFDs on metals, energy resources, commodities, indices, stocks, bonds, and cryptocurrencies.
MTrading
MTrading offers a wide range of trading assets, covering major markets and allowing traders to flexibly form their portfolio.
Pros
- Access to 38 currency pairs in the Forex market.
- Ability to trade CFDs on stocks, indices, commodities, and cryptocurrencies.
Cons
- Soft commodities are not available.
- The overall number of CFDs is average, lower than many competitors.
Trading Platforms
| Broker | IC Markets | MTrading |
|---|---|---|
| Rating | 5/5 | 3.5/5 |
| Trading Platforms |
|
|
IC Markets
IC Markets provides powerful and functional trading platforms suitable for various trader categories.
MTrading
MTrading focuses on the MetaTrader 4 platform, offering its various modifications, but limits the choice of alternatives.
Pros
- Availability of the time-tested and popular MT4 platform.
- Additional features in MT4 Supreme Edition to enhance trading.
- Ability to trade through a browser with WebTrader.
Cons
- Lack of modern platforms such as MetaTrader 5 or cTrader.
Analytics
| Broker | IC Markets | MTrading |
|---|---|---|
| Rating | 5/5 | 3/5 |
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.
MTrading
MTrading offers basic analytical tools, but they may seem limited compared to competitors.
Pros
- Access to up-to-date financial market news.
- Technical analysis from the company's experts.
Cons
- Lack of advanced analytical tools.
- No integrated services such as Autochartist or Trading Central are provided.
Education
| Broker | IC Markets | MTrading |
|---|---|---|
| Rating | 5/5 | 2.5/5 |
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.
MTrading
MTrading offers basic educational materials targeted at beginner traders, but their range is limited.
Pros
- Articles on the basics of Forex.
- Overviews of indicators and strategies.
Cons
- Lack of advanced educational resources.
- No webinars or video tutorials are provided.
- Limited variety of topics.
Customer Support
| Broker | IC Markets | MTrading |
|---|---|---|
| Rating | 4.7/5 | 2.5/5 |
| Email Support |
| — |
| Hotline Phones |
| — |
| Social Media |
Twitter
Facebook
Instagram
LinkedIn
Telegram
YouTubeIC 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
MTrading
MTrading's technical support has an average level, with certain shortcomings in communication channels and resolving client issues.
Pros
- Availability of online chat for quick communication.
- Support through social media.
Cons
- Lack of telephone line and email support.
- Issues with response timeliness.
- Complaints about ineffective resolution of finance-related issues.
Comparisons of IC Markets and MTrading with other brokers
Conclusion
IC Markets stands out as the better overall pick, while MTrading trails on aggregate criteria.
IC Markets scored 4.7/5 and ranks 4 in our rating; MTrading has 3.1/5 and ranks 63.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: IC Markets or MTrading?
IC Markets comes out ahead by overall rank (score 4.7/5, position 4) versus MTrading (score 3.1/5, position 63).
Which broker is better for beginners: IC Markets or MTrading?
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) — IC Markets or MTrading?
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 IC Markets and MTrading?
IC Markets: MetaTrader 5, MetaTrader 4, cTrader, TradingView. MTrading: MetaTrader 4. See the “Platforms” section for details and selection tips.
What markets can you trade with IC Markets and MTrading?
IC Markets: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. MTrading: Forex, Precious Metals, Energy Carriers, Indices, Stocks, ETF, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by IC Markets and MTrading?
IC Markets: Standard, Raw Spread cTrader, Raw Spread. MTrading: M.Cent, M.Premium, M.Pro. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by IC Markets and MTrading?
IC Markets: PayPal, Neteller, Skrill, Bpay, FasaPay, Klarna, Swift, SEPA, Visa, Mastercard, UnionPay, POLi, Rapidpay. MTrading: Neteller, Skrill. Check method-specific fees/settlement times.
Which broker is safer — IC Markets or MTrading — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
