FXTM vs. IC Markets Broker - Online Brokerage Comparison

FXTM vs. IC Markets Broker Comparison

FXTM and IC Markets Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$10MT4, MT5250+FCA, CySEC, FSCA, FSC
$200MT4, MT5, cTrader230+ASIC, CySEC, FSA

FXTM and IC Markets Comparison

Both FXTM and IC Markets offer ECN accounts. FXTM additionally provides instant execution accounts, including a Cent account with low trade sizes (and minimum deposit). Both brokers offer MT4 and MT5. IC Markets additionally provides cTrader.

FXTM has the lower minimum deposit, at a relatively low $10. However for its ECN trading account which charges commissions, and can offer low Forex spreads, it has a higher minimum deposit than IC Markets. But FXTM has the same minimum deposit for its ECN account which does not charge commissions as IC Markets ($200).

It can be noted that IC Markets offers an account which charges Forex commissions (and can have low Forex spreads) and an account which does not charge commissions but can have higher Forex spreads. But there is no difference in minimum deposit between these accounts. FXTM has Pro accounts, requiring a high minimum account balance and offering ECN caliber spreads without a commission charge.

FXTM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus and the FSC in Mauritius and is licensed by the FSCA in South Africa. IC Markets is regulated by the ASIC in Australia, the CySEC in Cyprus and the FSA in the Seychelles.

Quick comparison

IC Markets is an ECN broker. FXTM can offer a range of account types including ECN and a Cent account. FXTM offers a very low minimum deposit for its Cent instant execution account. Both are MT4 and MT5 brokers, though IC Markets also provides cTrader.

No dealing desk

FXTM's ECN accounts are no dealing desk, its three Standard accounts are not, while IC Markets is no dealing desk for all its accounts.

Minimum deposit and account types

The minimum deposit for FXTM is $10 and for ECN trading is $200. The minimum deposit for IC Markets is $200.

  • FXTM offers three Standard account types: Standard, Cent and Shares and three ECN accounts: ECN, ECN Zero and Pro. The minimum deposit for the Cent account is $/€/£10, for the Standard and Shares accounts $/€/£100, for the ECN Zero account $/€/£200, for the ECN account $/€/£500 and for the Pro account the minimum deposit and minimum account balance is $/€/£25,000. The Pro account offers spreads from 0 without a commission charge. FXTM offers Market Analysis and Education on its website. Copy Trading is available via FXTM Invest. The minimum trade size is 0.0001 lots.
  • 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.

Both brokers allow scalping.

Markets

  • FXTM offers Forex, Indices, Metals, Energy and Stocks, with 250+ available.
  • IC Markets Forex, Indices, Metals, Energy, Stocks, Cryptocurrencies, ETFs and Bonds, with 230+ available.

Spreads and leverage

Both brokers can offer low spreads plus a commission charge. FXTM can additionally provide Forex spreads from 1.3 without a commission charge, while IC Markets can offer Forex spreads from 1 without a commission charge.

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

Commissions

  • FXTM charges a commission starting at $2 per lot per side, depending on the equity in the account and the volume traded. The commission is charged for the ECN account.
  • 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. Commissions are charged only for Forex and Metals.

Online trading platforms

FXTM offers MT4 and MT5. IC Markets provides MT4, MT5 and cTrader. Both offer mobile apps.

Why FXTM or IC Markets ?

Traders who want to trade on MT4 or MT5 may do so at either broker. IC Markets additionally offers cTrader. Traders who want to trade on ECN accounts may do so at either broker, though FXTM offers other account types including a Cent account which has very low trade sizes. FXTM has a lower minimum deposit overall, but FXTM has the same minimum deposit for ECN trading as IC Markets.

Comparison summary

  • Both brokers provide CFD trading
  • Each offers MT4 and MT5
  • IC Markets additionally provides cTrader
  • Each has a similar number of markets to trade, including Stocks CFDs
  • Both offer ECN trading
  • FXTM additionally provides a Cent account, with very small trade sizes
  • For ECN trading, FXTM has the same minimum deposit than IC Markets ($200)
  • For its Cent account, FXTM has a very low minimum deposit ($10)

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