A broker comparison between Vantage FX and IC Markets will require taking a deeper look at two well-established brokerages with excellent trading environments, where technology fulfills a critical role. Vantage FX operates out of the Cayman Islands. This brokerage has catered to clients since 2009, offering raw spreads for a commission of just $6 per round lot. IC Markets, domiciled in Australia since 2007, established itself as a primary broker for automated trading solutions and also features a raw spread account where the commission is slightly higher, at $7. Both Forex brokers provide traders with a maximum leverage of 1:500, and client accounts remain fully segregated with banks in Australia. While the pricing environment at Vantage FX is more competitive, the research and education at IC Markets are superior.
This broker comparison will focus on the following four aspects plus an ultimate verdict:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Vantage FX vs IC Markets Verdict
 |  | |
Headquarters | Australia | Australia |
Regulators | CIMA | ASIC, CySEC, FSA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2009 | 2010 |
Execution Type(s) | ECN/STP | ECN/STP |
Minimum Deposit | $200 | $200 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Web-based | MetaTrader 4, MetaTrader 5, cTrader |
Average Trading Cost EUR/USD | 0.1 pips | 0.0 pips ($0.00) |
Average Trading Cost GBP/USD | 0.2 pips | 0.0 pips ($0.00) |
Average Trading Cost WTI Crude Oil | $0.04 | $0.03 |
Average Trading Cost Gold | $0.80 | $0.05 |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 1.0 pips | N/A |
Minimum Commission for Forex | $4.00 per round lot | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Visit Website | Visit Website |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Visit Website | Visit Website |
Vantage FX
For a minimum deposit of $500, this broker creates a competitive trading environment with its Raw ECN account, which offers a maximum leverage of 1:500. Complementing this offer is the MT4 SmartTrader upgrade for the MT4 trading platform. The attractive range of products and services makes Vantage FX a top choice for account management firms, enabled through MAM/PAMM accounts. Market leader ZuluTrade, as well as Myfxbook Autotrade, support social trading at Vantage FX, a retail trend that did not go unnoticed by this broker.
Research and education are offered but represent an area ripe for improvement. This under-developed area is countered by cutting-edge technology that powers the trading environment and free VPS hosting which is ideal for automated trading solutions. A minimum deposit of $1,000 is required to receive all features free of charge. Vantage FX deploys the oneZero MT4 bridge, connecting the broker's dark pool to the clients' MT4 platform, enabled by Xeon E7 processors. Overall, Vantage FX maintains an excellent environment for all traders to manage portfolios with a competitive edge.
IC Markets
Automated trading accounts for roughly 60% of all processed orders at this Forex brokerage. IC Markets is a favorite among high-frequency and algorithmic traders. Over 500,000 trades are executed daily, with an average execution time of 40 milliseconds. It improves the MT4 trading platform with 20 custom plug-ins found in the Advanced Trading Tools suite, providing manual traders with a superior trading environment. cTrader presents a genuine alternative where cAlgo allows the development of new solutions. Advancing self-sufficient trading are three VPS providers.
Portfolio managers enjoy excellent trading conditions at IC Markets, while social traders are catered to through partnerships with ZuluTrade and Myfxbook Autotrade. Manual traders have access to numerous research notes published daily. IC Markets maintains a comprehensive educational center for new traders which is impressive and surprising since they seem to cater to more advanced traders. A prime choice for retail traders through high-frequency operations to asset management firms, the entire spectrum benefits from the trustworthy at IC Markets.
Available Markets
| | |
Currency Pairs | N/A | |
Cryptocurrencies | N/A | |
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Futures | ||
Synthetics | ||
| Visit Website | Visit Website |
While the asset selection in quantity is higher at Vantage FX, where 293 assets are listed, the quality of 128 assets at IC Markets is outstanding. Pure Forex traders have access to just 41 currency pairs at the former, where the latter provides 60. The commodity selection is excellent at both, but Vantage FX does not feature cryptocurrencies. Traders seeking more comprehensive access to equity CFDs will determine IC Markets a lesser option, as Vantage FX maintains a superior selection. Most retail traders will find the overall asset selection suitable with both brokers. Professional account managers may find the quantity at Vantage FX an advantage, while automated traders will favor the liquidity of assets at IC Markets.
Typical Spreads and Fees
| | |
Average Trading Cost EUR/USD | 0.1 pips | 0.0 pips ($0.00) |
Average Trading Cost GBP/USD | 0.2 pips | 0.0 pips ($0.00) |
Average Trading Cost WTI Crude Oil | $0.04 | $0.03 |
Average Trading Cost Gold | $0.80 | $0.05 |
Average Trading Cost Bitcoin | N/A | $12.47 |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 1.0 pips | N/A |
Minimum Commission for Forex | $4.00 per round lot | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | No | N/A |
| Visit Website | Visit Website |
Both brokers feature raw spread accounts, where the spread is as low as 0.0 pips. Vantage FX charges a fee of $6 per round lot, while IC Markets clocks in at $7. Commission-free accounts are equally available. The minimum spreads at Vantage FX and IC Markets are listed as 1.4 pips, and 1.0 pips respectively. In case the hedge counterparty charges IC Markets a fee, short-sellers will be levied the additional costs. Swap rates on leveraged overnight positions exist, and both brokers are transparent about all involved trading costs.
Corporate actions like dividends and mergers, which impact equity and index CFDs, are passed on to traders. Third-party withdrawal costs may apply, depending on the chosen payment processor. Traders who prefer raw spreads will find a slightly more competitive overall offer at Vantage FX. Traditional ones can enjoy a more cost-effective trading environment at IC Markets. Either broker presents an extremely well-designed cost structure, providing traders an advantage as compared to most other brokers.
Security and Trust
| | |
Country of the Regulator | Australia, Vanuatu, South Africa | Australia, The Bahamas, Cyprus, Seychelles |
Name of the Regulator | CIMA | ASIC, CySEC, FSA |
Regulatory License Number | 428901, 51268, 700271 | 335692, SD018, SIA-F214, 362/18 |
Regulatory Tier | 1,2,4 | 1, 4, 4, 1 |
| Visit Website | Visit Website |
Vantage International Group LTD, the owner of Vantage FX, is authorized and regulated by the Cayman Islands Monetary Authority (CIMA), Securities Investment Business Law (SIBL) number 1383491. All client funds remain segregated at the National Australia Bank (NAB). Regular audits and professional indemnity insurance covering its authorized representatives are in place, but no investor compensation fund is present. It would be great if Vantage FX would have taken out an insurance policy covering deposits in case of financial problems at the brokerage. This brokerage offers an acceptable level of regulation and security but remains far behind other well-established brokers.
IC Markets operates under the regulatory framework of the Australian Securities and Investment Commission (ASIC) and the Seychelles Financial Services Authority (FSA). A significantly less favorable trading environment is maintained under the Cyprus Securities and Exchange Commission (CySEC) authorization. Professional Indemnity Insurance with Lloyd’s of London and H Savy Insurance in Seychelles is also present. Client deposits are segregated at National Australia Bank and Westpac Banking Corporation. Membership with the Australian Financial Complaints Authority (AFCA) and two independent auditors further bolster the security measures at IC Markets. The overall regulatory and safety environment at IC Markets is far more sophisticated as compared to Vantage FX.
Vantage FX vs IC Markets - Verdict
Traders will find an excellent trading environment at Vantage FX and IC Markets alike, as both remain at the top of today’s brokerage industry. Cross-asset diversification is superior at Vantage FX, but IC Markets offers broader coverage of the Forex market. Where the former provides a slightly more cost-effective pricing structure, the latter maintains better research and educational divisions. Vantage FX is ideal for traders and portfolio managers who seek a low-cost trading environment and broader asset selection. IC Markets is better suited for pure Forex traders, automated trading solutions, and clients who prefer auxiliary trading services from their broker. Either choice delivers an outstanding trading environment from an upgraded MT4 trading platform with a maximum leverage of 1:500, indemnity insurance, and segregated accounts maintained with top banks in Australia.
It's a tough call as to which broker would win this stand-off, but if we had to pick, a slight edge would be given to Vantage FX due to lower fees and wider asset diversification which will be welcome by most traders.
The minimum deposit at Vantage FX is $50 and $200 at IC Markets.
You might also be interested in reviewing the below broker comparisons:
