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
$100MT4200+FCA, ASIC, CySEC, FSCA

IC Markets and IronFX Comparison

IC Markets is an ECN broker, while IronFX offers both STP/ECN and non-ECN trading. IronFX can provide more markets to trade, though IC Markets has a competitive number for the ECN broker. Both offer MT4. IC Markets additionally provides MT5 and cTrader. IC Markets and IronFX are both regulated by the ASIC in Australia. IronFX is additionally regulated by the FCA in the United Kingdom, the CySEC in Cyprus and the FSCA in South Africa.

ECN conditions

IC Markets offers ECN and STP/ECN trading, while IronFX offers STP/ECN and non-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 four account types. These are Standard, True ECN, Islamic (Swap Free) and the cTrader ECN account. IC Markets provides Forex news, video tutorials and and economic calendar on its website. IC Markets uses Equinix's NY4 and London LD5 Data Centres to deliver low latency trading conditions and has micro lot trading.
  • IC Markets's Standard account does not charge a commission, but the True ECN account charges a commission. The cTrader ECN also charges commissions.
  • IC Markets says that the True ECN and cTrader accounts are more suited to EAs and Scalpers, but all trading styles are welcome on each account type.
  • 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 manger, 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.
  • 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 leverage 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.

Platform

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.

Comparison summary

  • IronFX offers STP/ECN trading
  • IC Markets offers ECN trading
  • IronFX also provides non-ECN trading
  • IC Markets also has an STP/ECN account
  • Both can offer Forex spreads with or without a commission charge
  • Each provides MT4
  • IC Markets also offers MT5 and cTrader
  • Both are ASIC regulated
  • IronFX has more markets available
  • Both have a range of Cryptocurrency CFDs

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