Home Brokers comparison Interactive Brokers vs. IC Markets

Interactive Brokers vs. IC Markets

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Interactive Brokers and IC Markets are leading online brokers offering impressive trading experiences. Interactive Brokers is a secure broker with licenses from the IIROC, FCA, FSA, SFC, MAS, CFTC, and FINMA. It offers a proprietary platform and a professional app with access to a demo account. Interactive Brokers is a recommended choice for professional traders. 

IC Markets is a top forex broker with 0.8 pip spreads. It has a versatile portfolio, including auto-trading and the MetaTrader suite. IC Markets has excellent tools, like trading videos, educational articles, and a demo account. This broker is a good fit for traders of all levels of experience. 

This article discusses the strengths and weaknesses of Interactive Brokers and IC Markets. 

Broker NameInteractive BrokersIC Markets
Year Founded19782007
RegulationSEC (USA), FCA (UK)FSA, ASIC & CySec 
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Cryptocurrency, CFD, Forex & Futures 
Min Deposit$0$200
Min Trade$00.01 Lots 
PlatformsTraders Workstation (TWS)MT4, MT5
DepositYou can open account without depositFree of charge
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

 

 

Top findings from the Interactive Brokers vs. IC Markets review:  

  1. Interactive Brokers is a top brokerage firm with both beginner-friendly and advanced tools. 
  1. IC Markets is a top forex broker with impressive learning tools for new investors. 
  1. Both brokers offer a demo account to test their offering. 

We recommend Interactive Brokers to traders of all levels of experience. It has premium tools and platforms, including advanced research data. IC Markets is a top choice for traders who want to improve their trading skills. 

Overall Rating

FeatureInteractive BrokersIC Markets
Overall4.54
Commissions & Fees4.54.5
Offering of Investments53.5
Platforms & Tools4.54
Mobile Trading44
Research4.53.5
Education43.5
Trust Score9485
WinnerYES 
 66% of retail CFD accounts lose money74-89% of retail CFD accounts lose money

Level of experience  

Interactive Brokers offers many professional trading tools. It has excellent research data, including Trading Central and forex news. This broker has some educational materials, including webinars. 

IC Markets has valuable educational and research materials. It has forex education, webinars, and an investor dictionary. IC Markets offers trading ideas, charting tools, and sentiment indicators. 

Fees  

The minimum initial deposit at Interactive Brokers is $0, while at IC Markets is $200. Both brokers offer an active trader discount. 

Assets  

Interactive Brokers has 105 forex currency pairs, while IC Markets provides access to 61 pairs. Interactive Brokers offers 7400 CFDs, while IC Markets has 230 available CFDs. 

Trading platform 

Interactive Brokers is a top choice among professionals because of its impressive desktop and web platforms. It offers standard educational tools, including professional trading videos. Interactive Brokers is a good fit for traders at all levels who want to improve their knowledge. 

IC Markets has the MetaTrader suite as its web and mobile platforms. Both have a user-friendly design. IC Markets has impressive customizability and clear fee reports. It is an excellent choice for new traders, as it has a dedicated learning center. 

Banking services  

Banking services are key for a good online trading experience. Interactive Brokers has bank transfers as its funding option. IC Markets offers bank transfers, credit/debit cards, PayPal, and Skrill.  

Final verdict  

Interactive Brokers and IC Markets are leading online brokers. Both have advantages and disadvantages depending on your skills and trading experience. Interactive Brokers is a good fit for professionals as it has premium tools. We recommend IC Markets to new investors because of its useful learning center. 

Interactive Brokers compared to other brokers:


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

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.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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