Compare Dukascopy vs IC Markets - ECN Broker Comparison

Compare Dukascopy vs IC Markets

Dukascopy versus IC Markets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$100MT4, JForex 3500+FCMC
$200MT4, MT5, cTrader230+ASIC, CySEC, FSA

Dukascopy and IC Markets Comparison

IC Markets is an Australian regulated ECN broker. Dukascopy EU is Latvian regulated and provides access to the SWFX ECN Marketplace of liquidity. IC Markets offers access to liquidity pools via Equinix NY4 and LD5 Data Centres.

Thus both brokers can offer low spreads plus a commission charge. IC Markets can also provide STP spreads, for example higher Forex spreads, with no commission charge.

Dukascopy offers MT4 and JForex, which is an advanced platform for both manual and automated trading. IC Markets does not offer JForex, but instead provides another advanced platform, cTrader. IC Markets also provides MT4 and MT5 (both with Level II quotes, like cTrader and JForex). Dukascopy can offer more markets to trade.

Dukascopy is regulated by the FCMC in Latvia. IC Markets is regulated by the ASIC in Australia, the CySEC in Cyprus and the FSA in the Seychelles.

Quick comparison

Both provide ECN trading. Dukascopy provides MT4 and JForex 3, while IC Markets offers MT4, MT5 and cTrader. Dukascopy has more markets, though IC Markets has a relatively large number of an ECN broker.

Minimum deposit and account types

The minimum deposit for Dukascopy is $100. The minimum deposit for IC Markets is $200.

  • Dukascopy offers one account type. A Swap-free (Islamic) account is available as well. Dukascopy offers webinars through the JForex 3 platform. Dukascopy provides traders access to the Swiss Foreign Exchange Marketplace liquidity pools, which it operates. The minimum trade size is 0.01 standard lots (1000 units). Dukascopy does not restrict trading styles.
  • 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

  • Dukascopy offers Forex, Indices, Energy, Cryptocurrencies, Stocks, Soft Commodities and Metals, with 500+ available.
  • IC Markets offers Forex, Indices, Energy, Cryptocurrencies, Stocks, Soft Commodities, Precious Metals, Bonds and ETFs, with 230+ available.

Dukascopy provides 60+ Forex pairs, IC Markets offers 55+ Forex pairs.

Cryptocurrency CFDs

  • Dukascopy offers Bitcoin and Ethereum.
  • IC Markets offers Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash, Ripple, Emercoin, Namecoin, Peercoin and EOS.

Spreads and leverage

  • Spreads at Dukascopy are variable and are from 0.1 for EUR/USD (with an average of 0.2), 1 for UK100, 0.10 for Gold and 0.02 for US Crude Oil, plus a commission charge.
  • Spreads at IC Markets are variable and are from 0.0 with an average of 0.1 for EUR/USD with a commission charge, from 1 for UK100, 0.0 for Gold, and 0.04 for US Crude Oil. For the Standard account EUR/USD spreads (without a commission charge) are from 1, with an average of 1.1.

Maximum leverage for Dukascopy EU is . Maximum leverage for IC Markets (CySEC regulated) is . Maximum leverage for IC Markets (ASIC or FSA regulated) is 500:1.

Commissions

  • Dukascopy charges a commission which varies depending on the volume traded, the initial deposit and equity in the account.
  • For Forex, Dukascopy commissions range from $35 per million USD per side, to $10 per million USD traded per side.
  • For other markets except Stocks, Dukascopy commissions range from $52.5 per million USD per side, to $15 per million USD per side.
  • 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

Dukascopy provides MT4, JForex 3, JForex Web 3 and apps. IC Markets offers MT4 (and a web trader based on MT4), MT5 and cTrader. These platforms are available on desktop, tablet and mobile.

Another quick comparison

Both offer ECN trading: Dukascopy on MT4 and JForex 3, IC Markets on MT4, MT5 and cTrader. Dukascopy has more markets, IC Markets has a wider range.

Why Dukascopy or IC Markets ?

Those who wish to trade on MT4 at an ECN broker, may do so at either broker. Traders who want to trade on MT5, the successor to MT4, will find this platform at IC Markets. Traders can trade the bulk of Dukascopy's markets on JForex, while the bulk of IC Markets is offered on MT5. IC Markets also provides cTrader.

Comparison summary

  • These brokers provide ECN trading
  • They offer low spreads plus a commission charge
  • IC Markets also provides STP trading with no commission charge (with higher Forex spreads)
  • Dukascopy can offer MT4 and JForex 3
  • IC Markets provides MT4, MT5 and cTrader
  • Dukascopy can offer more individual markets to trade, but IC Markets has a wider range
  • Dukascopy is regulated in the EU, IC Markets is regulated in Australia

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