This comparison guide assists users who have a hard time to choose in between IC Markets and Interactive Brokers to locate the best online broker for their trading and investment requirements. It assesses the highlights of both brokers alongside to assist individuals contrast their solution and make an educated decision.
To help users pick the right broker in between IC Markets and Interactive Brokers to discover the best-suited platform, below is a checklist of broker’s pros and cons, followed by a contrast of their main trading attributes, including trading platforms & devices, charges, mobile trading, deposit & withdrawal, assets, policy, and client assistance.
IC Markets vs. Interactive Brokers: Summary
IC Markets is a reputable forex and CFD broker regulated by two tier-one regulators (the ASIC and CySEC). They allow users to trade on over 3,500 symbols including 61 forex pairs and dozens of CFDs on cryptocurrencies, shares and indices.
IC Markets features multiple trading platforms and third party plugins including MetaTrader 4 (MT4), MetaTrade 5 (MT5), cTrader, myfxbook and AutoTrade. They also offer scalable order execution options without requotes and possibilities to place trades within the spread, which makes IC Markets an interesting choice for algorithmic traders.
IC Markets trading fees are among the lowest in the industry. They charge an average spread of 0.2 pips (EUR/USD) without extra commission. They also offer discounts to active traders with a trade volume above 100 lots/month.
IC Markets customer service is available by email, phone, and live chat in English, Arabic, and several other languages.
Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.
Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).
Pros
- MT4, MT5 and cTrader integration
- Competitive spreads from 0,0 pips EUR/USD
- Copy trading features (DupliTrade and Zulutrade)
- Up to 1:500 leverage
- Free Equinix NY4 VPS server
Cons
- Limited educational material
- Limited availability of assets
- No research and analysis tools
Pros
- Low minimum deposit ($0)
- Industry lowest overall fees
- Professional trading platform suitable for different types of traders
- Intuitive and easy to use mobile trading app
- Compatible features for casual and professional traders
- Responsive customer support
Cons
- Few deposit and withdrawal options
- Research and education materials missing
Key features
- Access to over 2,000 CFDs on forex, cryptos and stocks
- Compatible with MT4, MT5 and cTrader
- Islamic swap-free account availability
- Raw spreads from 0,0 pips EUR/USD
- Fast and reliable trade execution
- Access to Expert Advisors (EA’s) and other forms of automated trading
Key features
- Margin loan rates on stocks of 1.3%
- Access to 135+ global markets
- Advanced order types, tools and features
- Access to frictional shares
- Lowest commissions in the industry
IC Markets vs. Interactive Brokers Comparison
Select up to 3 Brokers
IC Markets
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Interactive Brokers
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:500 | 1:20 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | No | 0 |
| Deposit Fee | No | 1% |
| Inactivity Fee | 0 | 0 |
| Cost Per Trade | $3.5 per lot | 0 |
| Cost Per Month | 0 | 0 |
| Forex (EUR/USD) | 1.2 pips | 0.2 pips + 0.08 to 0.20 bps times trade size comission |
| Stocks & ETF | 0 | $ 0.005 per share |
| CFD (Gold) | 0 | 0.02% |
| Crypto | 0 | 0.12% to 0.18% of trade value |
| Options | 0 | |
| Conversion Fees | 0.01% | 0 |
| Misc. Fees | 0 | |
| Overnight Fees | 0 | Yes on CFD’s |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $200 | $0 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | YES from US bank account | |
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 0 | 16.500 |
| ETF & Funds | 40 | 35.000 |
| Crypto | 0 | 4 |
| Commodities | 0 | 1 |
| Indices | 0 | 3052 |
| Options | 0 | 50.000 |
| Futures | 0 | 245 |
| Bonds | 0 | 1.000.000 |
| Forex Instruments | 75 | 115 |
| CFD Indices & Funds | 25 | 13 |
| CFD Stocks | 2100+ | 8.000 |
| CFD Commodities | 28 | 2 |
| CFD Crypto | 13 | 0 |
| CFD Bonds | 9 | 0 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
IC Markets vs. Interactive Brokers Comparison Conclusion
The outcomes of our contrast of IC Markets vs. Interactive Brokers are wrapped up in the table below.
| Broker: | Best For: |
| IC Markets | Forex and CFDs; Algorithmic Trading |
| Interactive Brokers | Stocks and ETFs |
Picking the ideal selection between IC Markets and Interactive Brokers can be challenging. Both on-line brokers have similarities yet vary relating to trading instruments, platforms & applications, law, deposit & withdrawals, and study and education. Choosing the very best broker relies on customers’ trading & investment objectives, private choices, and experience level.
To make a better-informed decision, users can read our detailed broker reviews, comparison or use our broker selector to help them find the ideal broker.