All traders at FXCC get one ECN account without a minimum deposit requirement and the out-of-the-box MT4, which supports algorithmic and copy trading. It is one of the most simplified but competitive trading environments, and FXCC provides the MAM module for account managers. FXCC is a transparent broker, listing its execution statistics and confirming access to deep liquidity.
IC Markets is the leader among algorithmic brokers based on daily volume. Its Advanced Trading Tools package provides a 20-plugin MT4 upgrade, and MT5 and cTrader are also available. Copy trading services by Myfxbook AutoTrade and ZuluTrade add to the competitive IC Markets trading environment.
We have conducted an in-depth review of FXCC and IC Markets to determine which presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- FXCC versus IC Markets - Verdict
 |  | |
Headquarters | Australia | Cyprus |
Regulators | ASIC, CySEC, FSA | CySEC, VFSC |
Tier 1 Regulator(s)? | N/A | |
Owned by Public Company? | N/A | |
Year Established | 2010 | 2010 |
Execution Type(s) | ECN/STP | ECN/STP, No Dealing Desk |
Minimum Deposit | $200 | $50 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, cTrader | MetaTrader 4 |
Average Trading Cost EUR/USD | 0.0 pips ($0.00) | N/A |
Average Trading Cost GBP/USD | 0.0 pips ($0.00) | N/A |
Average Trading Cost WTI Crude Oil | $0.03 | N/A |
Average Trading Cost Gold | $0.05 | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
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Features and Platforms
| | |
MT4 | ||
MT5 | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
DOM? | N/A | |
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | N/A | |
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
FXCC grants a 100% first deposit bonus, free VPS hosting for qualifying traders, research, trading signals, and an introductory education course. IC Markets provides algorithmic traders with three third-party VPS hosts.
Available Markets
| | |
MT4 | ||
MT5 | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
DOM? | N/A | |
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | N/A | |
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
FXCC and Exness are competitive Forex brokers at their core, where the former lists 70+ currency pairs versus 100+ at the latter, one of the widest selections in the industry. Both offer rudimentary cross-asset diversification, but Exness covers liquid equity CFDs, unavailable at FXCC. The cryptocurrency coverage at Exness is also notably broader than at FXCC.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 0.0 pips ($0.00) | N/A |
Average Trading Cost GBP/USD | 0.0 pips ($0.00) | N/A |
Average Trading Cost WTI Crude Oil | $0.03 | N/A |
Average Trading Cost Gold | $0.05 | N/A |
Average Trading Cost Bitcoin | $12.47 | N/A |
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The pricing environment at both brokers is competitive, but FXCC maintains an edge. Average costs for major currency pairs are $5.00 per lot at FXCC and $7.00 at IC Markets. FXCC grants access to raw spreads in a commission-free cost structure resulting in a notable pricing advantage.
Security and Trust
| | |
Country of the Regulator | Australia, The Bahamas, Cyprus, Seychelles | N/A |
Name of the Regulator | ASIC, CySEC, FSA | CySEC, VFSC |
Regulatory License Number | 335692, SD018, SIA-F214, 362/18 | N/A |
Regulatory Tier | 1, 4, 4, 1 | N/A |
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FXCC caters to all non-EEA traders from its unregulated but duly registered Vanuatu subsidiary, company registration number 14576. Both brokers provide negative balance protection, segregate client deposits from corporate funds, and maintain a secure trading environment. FXCC and IC Markets have clean operational records and established themselves as trustworthy Forex brokers.
FXCC vs IC Markets – Verdict
FXCC
| Pros | Cons |
| Commission-free raw spreads from 0 pips with average cost of 0.5 pips | Equity trading not available |
| One account type with no minimum deposits and high leverage | |
| Quality education for beginner traders and daily trading signals | |
| Full support for algorithmic and social |
IC Markets
| Pros | Cons |
| Excellent choice of trading platforms consisting of MT4/MT5, and cTrader | The minimum deposit is slightly higher but within a reasonable range |
| Market-leading MT4 upgrade package, MAM/PAMM accounts, and VPS hosting | |
| Social trading support via Myfxbook, MetaTrader Signals, and ZuluTrade | |
| Leverage of up to 1:500, deep liquidity, and superb trade execution |
IC Markets is a leading algorithmic and copy trading broker, while manual traders benefit from its upgraded MT4 trading platform. Both brokers provide quality trading tools, research, and education, but FXCC is the more competitive Forex broker overall due to its lower trading costs.
You might also be interested in reviewing the below broker comparisons:
- FXCC vs Exness
- FXCC vs Forex.com
- FXCC vs XM
- IC Markets vs Oanda
- IC Markets vs ActivTrades
- IC Markets vs Eightcap
