FXCC vs IC Markets Comparison

FXCC vs. IC Markets Broker Comparison
FXCC versus IC Markets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsAbout
$100
Minimum Deposit
MT4
Trading Platform
200+
Markets To Trade
FXCC offers automated trading on MT4 and can provide low Forex spreads
About
$200
Minimum Deposit
MT4, MT5, cTrader
Trading Platforms
2500+
Markets To Trade
IC Markets offers automated trading on MT4, MT5 and cTrader and has social and copy trading
About

FXCC and IC Markets Comparison

These brokers have this similarity: they each provide 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 MT4 trading. IC Markets also offers 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 2500+, covering Forex, Metals, Indices, Energy, Soft Commodities, Stocks, ETFs, Bonds and Cryptocurrencies.
Oanda vs IC Markets Summary Table
BrokerTrading PlatformsDescription
FXCC
Broker
MT4
Trading Platforms
FXCC is an MT4 broker which allows automated trading and can provide low spreads plus a commission charge
Description
IC Markets
Broker
MT4, MT5, cTrader
Trading Platforms
IC Markets provides automated trading on MT4, MT5 and cTrader and has copy trading
Description

Spreads and leverage

Both brokers can provides low spreads plus a commission charge. IC Markets can additionally offer Forex spreads from 0.6 without a commission charge.

Maximum leverage for FXCC is . Maximum leverage for IC Markets (ASIC or CySEC regulated) is . Maximum leverage for IC Markets (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 MT4 and MT5 Raw Spread accounts while the cTrader Raw Spread 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. Traders who want to trade on MT5 (the successor to MT4) or cTrader can find these platforms at IC Markets. Traders who want to social and copy trade may do so at IC Markets.

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
  • IC Markets has social and copy trading