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, CySEC, FSA

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 or mark-up. 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, the CySEC in Cyprus and the FSA in the Seychelles.

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 the Standard, Raw Spread, Islamic (Swap Free) and cTrader Raw accounts. IC Markets provides market analysis, Web TV (market commentary and trade ideas in a video), educational articles and video tutorials and an economic calendar on its website. IC Markets provides ZuluTrade and Myfxbook for social and copy trading. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro (0.01) lot trading.
  • IC Markets's Standard account does not charge a commission, but the Raw Spread and cTrader Raw accounts charge a commission. Scalping, hedging and automated trading are allowed.

Markets

  • On the ECN Standard and the ECN XL account, FXCC offers 25, covering Forex and Metals. On the ECN Advanced account, FXCC has 200+ markets.
  • IC Markets offers 230+, covering Forex, Metals, Indices, Energy, Soft Commodities, Stocks, ETFs, Bonds and Cryptocurrencies.

Spreads and leverage

Both brokers can provides low spreads plus a commission charge. IC Markets can additionally offer Forex spreads from 1 without a commission charge.

Maximum leverage for FXCC is . Maximum leverage for IC Markets (CySEC regulated) is . Maximum leverage for IC Markets (ASIC or FSA regulated) 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.

Online trading 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.

Why FXCC or IC Markets ?

Traders who want to trade on MT4 may do so at either broker. IC Markets additionally offers MT5, the successor platform to MT4, as well as cTrader. Both are ECN brokers. FXCC lets the trader trade with ECN spreads, but without a commission charge. IC Markets has more markets to trade in general, and a relatively large number for an ECN broker.

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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