IC Markets vs PrimeXBT Comparison

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.

FSCA and FSA licenses, segregated accounts, NBP, and FinCom membership enhance protection; however, the absence of reputable regulators (FCA, ASIC) presents a moderate jurisdictional risk.

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.

Opening an account on PrimeXBT is simple: just an email and password, with no lengthy forms required. KYC is auto-verified in about 2 minutes, and deposits start at only $10. The entire process from registration to trading takes roughly 5-10 minutes.

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

PrimeXBT’s unified account covers FX/CFD, crypto futures, copy trading, and VIP, streamlining balance management. However, the lack of cent, and fixed-spread options slightly limits the choice.

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.

PrimeXBT’s fees are below market standards, featuring tight spreads for CFD trading and low fees for crypto futures trading. Additionally, there are no charges for deposits or account inactivity.

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.

A wide range of deposit and withdrawal methods, instant funding, and 3 free fiat withdrawals per month make transactions convenient. Fees apply only after exceeding the free limit and when withdrawing via card.

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

PrimeXBT offers over 100 instruments across FX, indices, commodities, stocks, and crypto futures, catering well to active traders.

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

PXTrader is user-friendly, and MT5 provides automation features. While PrimeXBT offers a sufficient selection of platforms, it isn’t extensive.

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.

PrimeXBT provides a basic suite of analytics including live charts, an economic calendar, and daily market overviews. This set is adequate for most users, though advanced screeners and signals are missing.

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.

PrimeXBT offers an extensive library of articles and a comprehensive glossary spanning both basic and advanced topics, though it lacks video courses.

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.

PrimeXBT’s support is fast and friendly: the 24/7 chat responds within minutes, and email queries receive a reply shortly after. While multiple channels exist, there is no telephone or messenger support.