FXCC vs IC Markets Comparison

FXCC vs. IC Markets Broker Comparison

FXCC versus IC Markets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$100MT445+CySEC
$200MT4, MT5, cTrader230+ASIC

FXCC and IC Markets Comparison

These brokers have this similarity: they each provide ECN trading on MT4. What this means in practice is that they can offer low spreads, plus a commission charge, and support trading styles such as scalping, hedging and automated trading.

One distinctive feature of FXCC is that it can offer, for smaller deposit sizes, ECN caliber spreads, without a commission charge. As well as MT4, IC Markets also provides MT5 and cTrader. FXCC is regulated by the CySEC in Cyprus, IC Markets is regulated by the ASIC in Australia.

Quick comparison

Both provide ECN MT4 trading. IC Markets also offers ECN trading on MT5 and cTrader. IC Markets can provide more markets, particularly on MT5, as it has Stocks CFDs.

Minimum deposit and account types

The minimum deposit for FXCC is $100 and the minimum deposit for IC Markets is $200.

  • FXCC provides three account types. These are the ECN Standard account, the ECN XL account and the ECN Advanced account. FXCC's ECN XL account has a minimum deposit of $100, the ECN Standard account has a minimum deposit of $10,000 and the ECN Advanced account has a minimum deposit of $100,000.
  • All FXCC account types provide the MT4 platform, ECN/STP order execution, mobile trading, free technical analysis, SMS notifications, VPS, Economic Calendar and Trading Tools, allow Expert Advisors, scalping and hedging and provide a personal account manager. The ECN XL account additionally can offer zero commissions (T&Cs apply) and zero mark-up. The ECN Advanced account provides more markets to trade than the other account types (200+ vs 30). All trading styles are allowed at FXCC and a news feed and analysis is available on the website.
  • IC Markets offers four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account. IC Markets provides Forex News, Video Tutorials and and Economic Calendar on its website. IC Markets uses Equinix NY4 and London LD5 Data Centres to deliver low latency trading conditions and has micro lot trading. IC Markets provides ZuluTrade and Myfxbook for social and copy trading.
  • IC Markets's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions. IC Markets says that the True ECN and cTrader accounts are more suited to EAs and scalpers, but all trading styles are welcome on each account type.

Account currencies

FXCC accounts are available in GBP, USD and EUR. IC Markets accounts are available in GBP, USD, EUR, AUD, CAD, SGD, NZD, HPY, HKD and CHF.

Markets

  • On the ECN Standard and the ECN XL account, FXCC offers 30, covering Forex and Precious Metals. On the ECN Advanced account, FXCC has 200+ markets.
  • IC Markets offers 230+, covering Forex, Precious Metals, Indices, Energy, Soft Commodities, Stocks, ETFs, Bonds and Cryptocurrencies.

Spreads and leverage

Spreads at FXCC are variable and are from 0.1 for EUR/USD (with a typical range under normal market conditions of 0.2-0.6) and around 0.25 for Gold.

Spreads at IC Markets are variable and are from -0.3 for EUR/USD on cTrader and 0.01 on MT4 with an average of 0.1, from 1 for UK100, from 0.3 for Gold and from 0.01 for US Crude Oil. For the Standard account EUR/USD spreads are from 1.

Maximum leverage for FXCC is . Maximum leverage for IC Markets is 500:1.

Commissions

  • FXCC's ECN XL account does not charge commissions.
  • FXCC's ECN Standard account charges commissions of 0.75 pips per lot per side for Forex and $7.5 per lot per side for Metals.
  • FXCC's ECN Advanced account charges commissions of 0.4 pips per lot per side for Forex and $4 per lot per side for Metals, Energy and Indices.
  • IC Markets charges a commission of $3.50 per lot per side for the True ECN account and the cTrader account charges a commission of $3 per 100,000 USD traded per side.

Platforms

Both brokers provide MT4, available for desktop, tablet and mobile. IC Markets additionally offers MT5, cTrader (and cAlgo), also available for desktop, tablet and mobile. Both brokers provide micro lot trading.

Comparison summary

  • Both brokers offer CFD trading
  • Both brokers provide ECN trading accounts
  • Each offers MetaTrader 4
  • IC Markets additionally provides MT5 and cTrader
  • Both allow automated trading with robots
  • FXCC offers its ECN XL account which does not charge commissions or mark-up
  • Except for its Advanced account with a minimum deposit of $100,000, FXCC has considerably less markets to trade than IC Markets

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