Forex.com
Regulated in your country Forex.com is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
IC Markets
Regulated in your country IC Markets is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders Forex.com and IC Markets are best suited to, based on what each one actually offers in Australia.Forex.com is better than IC Markets for high-volume traders. Professional traders, scalpers and swing traders can choose either Forex.com or IC Markets.
| Overall score | Forex.com 83 -1 | IC Markets 84 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise Forex.com and the ones that supervise IC Markets.Forex.com and IC Markets are both regulated in Australia, by ASIC.
| Section score | Forex.com 100 | IC Markets 100 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that Forex.com and IC Markets have in place to protect your money in Australia.Both Forex.com and IC Markets offer segregated client funds and two-factor authentication.
| Section score | Forex.com 73 Best | IC Markets 65 -8 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 1999 | 2007 |
| Parent company i | StoneX Group Inc. | International Capital Markets Pty Ltd |
| CEO i | Glenn Stevens | Andrew Budzinski |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | N/A | Eurobank |
| Brand power | ||
| Number of customers worldwide i | 1,000,000 | |
| Annual revenue i | US$169,500,000 | |
| Monthly website search traffic i | 1.9M monthly visits | 2.2M monthly visits |
Costs
What we compare A comparison of what it costs to trade with Forex.com and with IC Markets in Australia, both on each trade and on holding the account.Forex.com is better than IC Markets for costs, as Forex.com is cheaper on EUR/USD, at US$7.5 per lot (against IC Markets' US$8), and offers volume discounts, which IC Markets does not. Neither Forex.com nor IC Markets charges account maintenance fees or deposit fees.
| Section score | Forex.com 71 Best | IC Markets 64 -7 |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | US$5 | US$7 |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$7.5 | US$8 |
| S&P 500 fees (CFD) i | 0.6 points | 0.492 points |
| Gold fees (CFD) i | 0.3 points | 0.08 points |
| Bitcoin fees (CFD) i | US$35 | US$12.01 |
| US stocks fees (CFD) i | US$0.02 | US$0.02 |
| Fees on stocks | ||
| Stock fee type i | Commission, Percentage | Commission, Percentage |
| US stocks fees (real) i | ||
| ETF fees (real) i | ||
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with Forex.com and with IC Markets in Australia, and of how many instruments each one gives access to.Forex.com is better than IC Markets for available markets, because Forex.com gives access to 6,300 tradable symbols (against IC Markets' 2,250). Both Forex.com and IC Markets offer CFDs on commodities, crypto, forex, indices and stocks.
| Section score | Forex.com 85 Best | IC Markets 75 -10 |
|---|---|---|
| Total tradable symbols i | 6,300 | 2,250 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, Forex, Indices, Stocks | Commodities, Crypto, ETF, Forex, Indices, Stocks |
| Futures i | ||
| Options i | ||
| Assets you can own i |
Platform
What we compare A comparison of the trading platforms that Forex.com and IC Markets make available to their clients in Australia.Forex.com and IC Markets are equally good for platforms, since Forex.com offers a proprietary platform and social trading. On the other hand, IC Markets offers cTrader and MetaTrader 5. Both Forex.com and IC Markets offer MetaTrader 4 and one-click trading.
| Section score | Forex.com 89 | IC Markets 89 |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of Forex.com and IC Markets in Australia, and of what each one lets you do from your phone.Forex.com and IC Markets are close on mobile trading, as both offer a proprietary mobile app and the MetaTrader 4 app. IC Markets has a slight edge, as it offers the cTrader app and the MetaTrader 5 app.
| Section score | Forex.com 86 | IC Markets 86 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that Forex.com and IC Markets allow on their platforms in Australia.Forex.com is better than IC Markets for trading features, because Forex.com executes orders faster, within 2 ms (against IC Markets' 40 ms), and offers guaranteed stop losses, which IC Markets does not. Forex.com and IC Markets both offer negative balance protection and trailing stops.
| Section score | Forex.com 96 Best | IC Markets 87 -9 |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | Hybrid |
| Average execution time i | 2 ms | 40 ms |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | |
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 30:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 20:1 |
| Major indices leverage i | 20:1 | 20:1 |
| Minor indices leverage i | 10:1 | 10:1 |
| Gold leverage i | 20:1 | 20:1 |
| Commodities leverage i | 10:1 | 10:1 |
| Equities leverage i | 5:1 | 5:1 |
| Cryptocurrency leverage i | 2:1 | 2:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$1 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at Forex.com and at IC Markets in Australia, and of who each one is meant for.IC Markets is better than Forex.com for account types, given that IC Markets offers a corporate account, an ECN account and an Islamic account, which Forex.com does not. Both Forex.com and IC Markets offer a demo account and a professional traders account.
| Section score | Forex.com 39 -35 | IC Markets 74 Best |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with Forex.com and with IC Markets in Australia.IC Markets is better than Forex.com for account opening, given that IC Markets supports e-wallets, which Forex.com does not. However, the minimum deposit is lower at Forex.com, at US$106 (against IC Markets' US$200).
| Section score | Forex.com 75 -10 | IC Markets 85 Best |
|---|---|---|
| Minimum deposit i | US$106 | US$200 |
| Minimum withdrawal i | US$0 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | PayPal, Neteller, Skrill | |
| Local payment methods i | ||
| Account base currencies i | AUD, CAD, CHF, EUR, GBP, HKD, HUF, JPY, NZD, PLN, SGD, USD | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF |
| Deposit waiting time i | up to 2 business days | up to 5 business days |
| Withdrawal waiting time i | up to 3 business days | up to 5 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of Forex.com and IC Markets in Australia, in how it can be reached and how fast it answers.IC Markets is better than Forex.com for customer care, because IC Markets offers customer support in 17 languages (against Forex.com's 1), and has a website in 17 languages (against Forex.com's 7). Both Forex.com and IC Markets offer a dedicated account manager and phone support.
| Section score | Forex.com 71 -21 | IC Markets 92 Best |
|---|---|---|
| Number of languages supported i | 7 | 17 |
| Website languages i | Arabic, German, English, Japanese, Polish, Spanish, Chinese | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese |
| Website available in English i | ||
| Customer support languages i | English | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that Forex.com and IC Markets provide to their clients in Australia.IC Markets is better than Forex.com for learning, as IC Markets offers an economic calendar, which Forex.com does not. Both Forex.com and IC Markets offer education for advanced traders and webinars.
| Section score | Forex.com 95 -5 | IC Markets 100 Best |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
Forex.com vs IC Markets: which one should you choose?
Forex.com
CFD/FX Choose Forex.com if you want an online CFD broker with fast order execution and fixed-spread accounts.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
IC Markets
CFD/FX Choose IC Markets if you want a CFD/forex broker for high-frequency trading, with cTrader and TradingView.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include Forex.com or IC Markets, each scored with the same data and method as this page.
