FXCC vs IC Markets Comparison

FXCC vs. IC Markets Broker Comparison

FXCC versus IC Markets
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. However IC Markets aggregates liquidity sources, while FXCC is an STP/ECN broker (IC Markets has an STP account as well, with higher spreads and no commission charge). IC Markets also uses Equinix Data Centres, to help provide high speed order execution (because they are co-located with liquidity providers).

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. All accounts welcome Scalpers, allow hedging and EAs, provide live news updates, technical analysis, trading tools and an economic calendar on the FXCC website, and offer a personal account manager.
  • FXCC's ECN Standard account has a minimum deposit of $100, the ECN XL account has a minimum deposit of $500 and the ECN Advanced account has a minimum deposit of $100,000. All accounts charge commissions, except for the ECN XL account which does not charge commissions for deposits less than or equal to $10,000. The ECN Advanced account offers more Forex pairs and also offers Indices.
  • IC Markets provides four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account.
  • 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

  • FXCC offers 50, covering Forex pairs, Indices and Precious Metals on the ECN Advanced account. On the ECN Standard and the ECN XL account, FXCC offers 30, covering Forex and Precious Metals.
  • IC Markets offers 230+, covering Forex pairs, Indices, Precious Metals, 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 Standard account charges commissions of 0.75 pips per lot per side for Forex and $7.5 per lot per side for Metals.
  • For deposits of less than or equal to $10,000, FXCC's ECN XL account does not charge commissions and for deposits greater than $10,000 the ECN XL account charges commissions of 0.3 pips per lot per side.
  • 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

  • FXCC offers ECN trading with a commission charge
  • IC Markets offers ECN trading with a commission charge
  • FXCC also provides ECN trading without a commission charge
  • IC Markets provides ECN trading with no commission charge
  • FXCC is regulated by the CySEC, IC Markets is regulated by the ASIC
  • IC Markets offers more markets and a wider range
  • FXCC has a lower minimum deposit
  • Both provide MT4
  • IC Markets also offers MT5 and cTrader

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