Compare IC Markets vs IronFX - Trading Brokers Comparison

Compare IC Markets vs IronFX

IC Markets vs IronFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4, MT5, cTrader230+ASIC, CySEC, FSA
$100MT4200+FCA, ASIC, CySEC, FSCA

IC Markets and IronFX Comparison

IC Markets is an ECN broker, while IronFX offers STP/ECN accounts and other account types. This allows IronFX to provides fixed spread as well as variable spread accounts.

Both offer MT4. IC Markets additionally provides MT5 and cTrader. IronFX can provide more markets to trade on MT4, though IC Markets has more overall.

IC Markets and IronFX are both regulated by the ASIC in Australia and the CySEC in Cyprus. IronFX is additionally regulated by the FCA in the United Kingdom and the FSCA in South Africa. IC Markets is additionally regulated by the FSA in the Seychelles.

ECN conditions

Both brokers can provide trading without and without a commission charge. Each offers MT4, however IC Markets additionally provides MT5 and cTrader for ECN trading.

Quick comparison

IC Markets is an ECN broker. IronFX has a range of account types, including STP/ECN. Both are MT4 brokers. IC Markets also offers MT5 and cTrader.

Account types and minimum deposit

The minimum deposit for IC Markets is $200. The minimum deposit for IronFX is $100 (STP/ECN minimum deposit is $500).

  • 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.
  • IronFX offers a range of account types and services. These include a Micro account which has a minimum deposit of $100, a Premium account with a minimum deposit of $2,500 and a VIP account with a minimum deposit of $20,000. These three account types are available with fixed or variable spreads and the spreads can be tighter on higher account types. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots.
  • IronFX also offers a Zero Fixed Spread account. This provides zero spreads for some markets, with commissions charged. As well, IronFX offers STP/ECN accounts with or without commissions. It also has an STP/ECN Absolute Zero account, with spreads from zero, with no commission charge. For the Zero Fixed Spread account and the STP/ECN account, the minimum deposit is $500. The minimum deposit for the Absolute Zero account is upon request to the account manager.
  • All IronFX accounts offer a dedicated account manager, technical analysis reports, investor education tools and private one-on-one trading guidance. The Premium, VIP, STP/ECN No Commission and STP/ECN Zero Spread accounts also offer a dealing department transaction hotline.

Markets

  • On MT5, IC Markets offers 230+ markets, covering Forex, Indices, Energy, Soft Commodities, Cryptocurrencies, Metals, Stocks, ETFs and Bonds.
  • On MT4, IC Markets offers 105+ markets covering Forex, Indices, Energies, Soft Commodities, Cryptocurrencies and Metals.
  • On MT4, IronFX offers 200+ markets covering Forex, Indices, Energy, Soft Commodities, Cryptocurrencies, Metals and Stocks.

IronFX has more Currency Pairs available, with 120+ available versus 60+ at IC Markets.

Cryptocurrency CFDs

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

Leverage and spreads

Maximum leverage for IC Markets (CySEC regulated) is . Maximum leverage for IC Markets (ASIC or FSA regulated) is 500:1. Maximum leverage for IronFX (ASIC regulated) is 500:1 (but for STP/ECN it is up to 200:1). Maximum leverage for IronFX (FCA or CySEC regulated) is .

  • Spreads at IC Markets are variable and are from -0.3 (on cTrader) and 0.0 on MT4 with an average of 0.1 for EUR/USD with a commission charge, from 1 for UK100, 0.3 for Gold, and 0.01 for US Crude Oil. For the Standard account EUR/USD spreads (without a commission charge) are from 1, with an average of 1.1.
  • IronFX's Micro account has a EUR/USD variable spread from 1.1 and a fixed spread from 2.2. The Premium account has a EUR/USD variable spread from 0.7 and a fixed spread from 1.8. The VIP account has a variable EUR/USD spread from 0.5 and a fixed spread from 1.6.
  • IronFX's Live Zero Fixed spread account has an EUR/USD spread of 0 (plus a commission charge). The ECN No Commission account has a variable EUR/USD spread from 1.7 and the ECN account with a commission charge has an EUR/USD spread from 0. The ECN Absolute Zero account has EUR/USD spreads from 0, without a commission charge. Gold spreads are from 0.5, UK100 spreads are from 0.8 and US Crude Oil spreads are from 0.04.

Commission charge

  • 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.
  • IronFX's commission charges are from $6.75 per lot per side for Forex.

Online trading platforms

Both brokers offer MT4, desktop and apps. IC Markets also offers MT5 and cTrader desktop, MT5 and cTrader apps and an MT4 based web trader. IronFX also offers a web trader based on MT4.

Why IC Markets or IronFX ?

IC Markets is an ECN broker, offering three platforms, including MT4. On MT5, it can offer an expended range of markets to trade. IronFX is an MT4 broker, which has a range of account types, including STP/ECN (and more markets to trade on MT4, though IC Markets has more markets overall, on MT5).

Comparison summary

  • Both brokers provide CFD trading
  • Each offer MT4
  • IC markets additionally provides MT5 and cTrader
  • IronFX has more markets to trade on MT4
  • IC Markets offers more markets to trade overall (on MT5)
  • IC Markets provides fixed spreads
  • IronFX offers fixed and variable spread accounts

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