FOREX.com vs. IC Markets – Which Broker is the Best for Your Trading Needs?

• Features and Platforms
• Available Markets
• Typical Spreads and Fees
• Security and Trust
• Verdict

FOREX.com and IC Markets are leading global Forex brokers, but which one should you trust with your Forex portfolio?

I have conducted an in-depth review of FOREX.com vs. IC Markets to determine which is the better overall choice and which traders will benefit most from either broker.

Headquarters	United States	Australia
Regulators	ASIC, CFTC, CIMA, CySEC, FCA, FSA, IIROC, NFA	ASIC, CySEC, FSA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established	2001	2010
Execution Type(s)	Market Maker	ECN/STP
Minimum Deposit	$100	$200
Negative Balance Protection		N/A
Trading Platform(s)	MetaTrader 4, MetaTrader 5, Proprietary platform, Trading View	MetaTrader 4, MetaTrader 5, cTrader
Average Trading Cost EUR/USD	1.1 pips	0.0 pips ($0.00)
Average Trading Cost GBP/USD	1.3 pips	0.0 pips ($0.00)
Average Trading Cost WTI Crude Oil	$0.035	$0.03
Average Trading Cost Gold	$0.63	$0.05
Retail Loss Rate	73.00%	N/A
Minimum Raw Spreads	0.0 pips	N/A
Minimum Standard Spreads	0.8 pips	N/A
Minimum Commission for Forex	$5 per $100K	N/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
	Visit Website	Visit Website

Here is a snapshot of the most notable advantages of FOREX.com:

• Ultra-low trading fees in the Raw Spread account.
• Six-tier volume-based rebate program with up to $50 per $1M traded.
• Capitalise AI for code-free algorithmic trading.
• 99.69% of trade execution in less than one second.
• Average execution speed of 0.03 seconds.
• 58.24% of limit orders with price improvement.
• Average Forex price improvement of 0.73 pips or $7.30 per 1.0 standard lot.

Here is a snapshot of the most notable advantages of IC Markets:

• Low commission-based trading fees.
• Leading algorithmic Forex trading broker.
• NY4 & LD5 data centres in New York & London.
• Average execution speed under 0.04 seconds.
• $89B+ daily Forex trading volume processing.

Features & Platforms

MT4
MT5
MT4/MT5 Add-Ons		N/A
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading		N/A
DOM?
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading
OCO Orders
Interest on Margin
	Visit Website	Visit Website

Available Markets

Currency Pairs
Cryptocurrencies	N/A
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
Bonds	N/A
ETFs
Futures
Synthetics
	Visit Website	Visit Website

During my FOREX.com review, I determined that this broker offers a selection of 80+ currency pairs and 5,500+ equity-focused trading instruments. In contrast, my IC Markets review shows it gives traders a choice of 2,200+ assets.

Here is why FOREX.com is a better choice for most traders:

• Superior selection of Forex pairs
• Faster order execution
• Superior price improvement technology
• Lower trading fees
• Higher volume-based rebate program

Typical Spreads & Fees

Average Trading Cost EUR/USD	1.1 pips	0.0 pips ($0.00)
Average Trading Cost GBP/USD	1.3 pips	0.0 pips ($0.00)
Average Trading Cost WTI Crude Oil	$0.035	$0.03
Average Trading Cost Gold	$0.63	$0.05
Average Trading Cost Bitcoin	$60	$12.47
Minimum Raw Spreads	0.0 pips	N/A
Minimum Standard Spreads	0.8 pips	N/A
Minimum Commission for Forex	$5 per $100K	N/A
Deposit Fee		N/A
Withdrawal Fee		N/A
Inactivity Fee	$15 monthly after 12 months	N/A
	Visit Website	Visit Website

Both brokers offer traders a choice of commission-free and commission-based trading accounts, but which one is cheaper?

Forex.com takes the lead. IC Markets fees are higher in the commission-based cost structure with smaller rebates than FOREX.com's fees.

Account Types

The FOREX.com account types lack a swap-free Islamic option, but both brokers provide demo accounts and support algorithmic and copy trading. The IC Markets account types discriminate against MT4/MT5 traders with higher fees.

Are there any other noteworthy differences in the account structure between FOREX.com vs. IC Markets?

Here is what stands out the most:

• FOREX.com has lower commissions
• FOREX.com has higher rebates
• TradingView is equally available

Minimum Deposit

How difficult is it to deposit at Forex.com vs. IC Markets?

The FOREX.com minimum deposit is $100 versus the IC Markets minimum deposit of $200, which are reasonable requests but higher than some competitor's requests, with Forex.com ahead. IC Markets offers more payment processors and supports more deposit currencies than FOREX.com, making deposits slightly user-friendly at IC Markets.

Minimum Withdrawal

Which withdrawal process is better: FOREX.com or IC Markets?

Neither broker levies internal withdrawal fees, while both maintain trusted withdrawal infrastructures. Neither broker allows cryptocurrency transactions. Traders have fewer Forex.com withdrawal methods than IC Markets withdrawal methods. IC Markets has no minimum withdrawal amount with same-day withdrawals if traders place the request before noon AEST/AEDT.

Security & Trust

Country of the Regulator	Australia, Canada, Cyprus, Japan, Cayman Islands, Singapore, United Kingdom, United States	Australia, The Bahamas, Cyprus, Seychelles
Name of the Regulator	ASIC, CFTC, CIMA, CySEC, FCA, FSA, IIROC, NFA	ASIC, CySEC, FSA
Regulatory License Number	0339826,291, Undisclosed, 446717, 400/21, 25033, 345646, Undisclosed	335692, SD018, SIA-F214, 362/18
Regulatory Tier	N/A	1, 4, 4, 1
	Visit Website	Visit Website

Which broker is more secure and trustworthy?

FOREX.com and IC Markets segregate client deposits from corporate funds and offer negative balance protection. My FOREX.com review and IC Markets review confirm excellent track records for both brokers spanning 10+ years and multiple regulators, including trader-friendly jurisdictions. Therefore, I rank both brokers as equally secure and trustworthy.

IC Markets versus Forex.com Verdict

FOREX.com

IC Markets

Which Forex broker is better?

FOREX.com and IC Markets are industry-leading brokers, and I recommend traders test the trading environments in the Forex.com demo account and the IC Markets demo account.

Here is my verdict:

IC Markets is a world-class broker, but FOREX.com takes the lead due to lower fees and Capitalise AI for algorithmic trading in a code-free environment.

FAQs

Does FOREX.com have low fees?

FOREX.com has relatively low commissions, so its commission-based account has very competitive fees, while its spread-only accounts tend to have reasonably competitive spreads.

Is FOREX.com reliable?

FOREX.com is widely seen as reliable because it is well regulated, including by some top regulators globally, and it has been around for more than 20 years, which is a relatively long time.

Is my money safe with IC Markets?

IC Markets is a well-regulated and reputable broker, so your money is likely to be safe there.

Is IC Markets good for Forex?

IC Markets offers a selection of 61 Forex currency pairs, which is a fairly good offering for Forex.

Who is better than IC Markets?

IC Markets is considered a good Forex / CFD broker, but several brokers, including FOREX.com, offer better offerings.