IC Markets vs TeleTrade 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 IC Markets and TeleTrade
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Rating | 4.7/5 | 3.6/5 |
| Foundation Year | 2007 | 2000 |
| 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 | 1:500 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | IC Markets Review | TeleTrade Review |
IC Markets is suitable for traders looking for low spreads and ECN accounts and the ability to scalp and use expert advisors.
This broker is ideally suited for experienced traders who value narrow spreads and a variety of financial instruments. Beginners may find it difficult due to the lack of extensive educational materials.
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:
TeleTrade Review
TeleTrade represents a comprehensive solution for traders looking for tight spreads, a variety of financial instruments, and quality customer support. It benefits experienced traders who can fully utilize the extensive analytical tools. However, beginners may find it challenging to get started without a wide range of educational materials.
If you are ready to undertake an intensive self-learning journey or possess ample experience, this broker can offer you all the necessary conditions for successful trading.
Pros and Cons of TeleTrade
Pros
- Tight spreads.
- A wide range of deposit and withdrawal methods.
- Diversity of financial assets.
- An extensive set of analytical tools.
- Quality customer support.
Cons
- High commission on ECN and NDD accounts.
- High swaps.
- Long withdrawal request processing time.
- Lack of educational materials other than articles.
Reliability
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Reliability | 5/5 | 3/5 |
| Foundation Year | 2007 | 2000 |
| Regulated in Countries | Seychelles, Australia, Cyprus, Kenya | Saint Vincent and the Grenadines |
| Regulators | SFSA SFSA ASIC ASIC CySEC CySEC CMA CMA | SVGFSA SVGFSA |
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.
TeleTrade
TeleTrade is a relatively reliable broker, especially considering its long-standing market experience.
Pros
- Long-term market history.
- A large client base worldwide.
Cons
- No regulation by stricter authorities (FCA, ASIC, BaFin).
Account Opening
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Account Opening | 4.5/5 | 5/5 |
| Minimum Deposit |
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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.
TeleTrade
The registration process with TeleTrade broker is extremely convenient and fast. Minimal field input and the ability to log in from the main page simplify the start in trading.
Account Types
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Account Types | 3.8/5 | 3.5/5 |
| 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 |
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
TeleTrade
The broker offers standard trading accounts with additional options such as "24% Bonus" and "Copy Trading". However, the absence of cent, fixed, and Islamic accounts narrows the choices for specialized traders.
Pros
- Additional income through "24% Bonus".
- The "Copy Trading" service for diversification.
- Loyalty program with bonus points.
Cons
- No accounts with fixed spreads.
- No cent accounts.
- No Islamic accounts.
Commissions
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Commissions | 4.5/5 | 2.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 0.62 | 1.8 |
| Commission per Lot | $3.5 | $0.86 |
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.
TeleTrade
The level of commissions can be considered average, making the broker's services suitable for various types of traders, but not ideal for all.
Pros
- Competitive spreads on the standard account.
- No withdrawal fees in certain cases.
Cons
- High transaction commission on ECN and NDD accounts.
- Above-average swaps on the standard account.
- Additional commission for account inactivity.
Deposit and Withdrawal
| Broker | IC Markets | TeleTrade |
|---|---|---|
| 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.
TeleTrade
The broker offers a variety of transaction methods, most of which are commission-free and with fast processing times.
Pros
- Wide selection of deposit and withdrawal methods.
- Most operations are commission-free.
- Instant fund crediting for most methods.
Cons
- Withdrawal requests can be processed for up to 7 business days.
- In some cases, a commission is charged for deposits and withdrawals.
Markets and Products
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Markets and Products | 5/5 | 4.5/5 |
| Forex | 61 | 76 |
| Precious Metals | 7 | 17 |
| Energy Carriers | 5 | 4 |
| Soft Commodities | 8 | 7 |
| Indices | 25 | 26 |
| Stocks | 2175 | 146 |
| ETF | 38 | - |
| Bonds | 10 | 3 |
| Cryptocurrency | 21 | 79 |
IC Markets
IC Markets offers various trading instruments, including currency pairs, CFDs on metals, energy resources, commodities, indices, stocks, bonds, and cryptocurrencies.
TeleTrade
TeleTrade offers a wide range of financial instruments, making it attractive for various categories of investors.
Pros
- A large number of currency pairs.
- Wide selection of CFDs on metals and cryptocurrencies.
Cons
- Some brokers offer more CFDs.
Trading Platforms
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Trading Platforms |
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IC Markets
IC Markets provides powerful and functional trading platforms suitable for various trader categories.
TeleTrade
TeleTrade provides excellent trading opportunities, offering two versions of the popular MetaTrader platforms.
Pros
- Support for MetaTrader 4 and 5, popular and reliable platforms.
- Availability on various operating systems and devices.
- Ability to use automated trading robots.
Cons
- Lack of proprietary platform or alternative to MetaTrader.
Analytics
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Rating | 5/5 | 4/5 |
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.
TeleTrade
TeleTrade provides a good range of analytical tools, such as an economic calendar and technical analysis.
Pros
- Includes an economic calendar and updates news.
- Professional market reviews.
- Video analytics available.
Cons
- Lack of trading signals.
- Absence of calculators and technical analysis services.
Education
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Rating | 5/5 | 2/5 |
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.
TeleTrade
The educational materials at TeleTrade are limited to articles only, which is not ideal for those seeking comprehensive education. The variety and depth of materials are severely limited.
Customer Support
| Broker | IC Markets | TeleTrade |
|---|---|---|
| Rating | 4.7/5 | 5/5 |
| Email Support |
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| Hotline Phones |
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| Social Media | — |
Twitter
Facebook
Instagram
LinkedInIC 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
TeleTrade
TeleTrade's technical support offers a wide range of communication channels and receives positive feedback from clients. Prompt response and quality consultation make this service one of the broker's strong points.
