IC Markets vs WelTrade - Fees Review included
Which broker is better IC Markets or WelTrade? Our expert assessment conducted according to TU’s own methodology showed that IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. WelTrade is one of the top brokers in the financial market with the TU Overall Score of 6.63 out of 10. Find out more about TU Overall Score.
| Feature | IC Markets | WelTrade |
|---|---|---|
Overall |
4.7 |
4.2 |
5 |
3.5 |
|
4.9 |
4.1 |
|
4.6 |
3.8 |
|
Investment Instruments |
4.9 |
4.4 |
Platforms and Charting Tools |
4.4 |
4.5 |
Deposit and Withdrawal |
4.6 |
5 |
Research |
4.3 |
4 |
Education |
4.4 |
3.8 |
Support |
4.6 |
4.6 |
Bonuses |
2.5 |
4.3 |
|
|
|
IC Markets vs WelTrade: Pros and Cons
IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.
Weltrade is an international broker. It has been in operation since 2006 and has offices in 18 countries that serve over 100,000 traders worldwide. The Company provides a full range of active trading services and also supports auto-trading. Weltrade has repeatedly proven its responsibility and professionalism. According to the 2019 Asia Forex Expo, the company received the “Best Foreign Broker” award; and in 2017, it was awarded the “Broker with the Best Client Support” title. In 2015, the Weltrade broker won the "Best Affiliate Program” nomination.
| IC Markets | WelTrade | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | beneficial trading conditions |
| Advanced ECN trading | a wide range of financial instruments for trading: currency pairs, indices, stocks, goods, cryptocurrencies | |
| Order execution speed 40 mc | ability to open different types of accounts, depending on clients’ goals and expertise | |
| Free VPS | individual account for cryptocurrency trading | |
| Trading servers in New York and London | several services for successful traders’ transactions, such as copying; ZuluTrade & MQL5, as well as access to robots and ready indices | |
| Strong regulation | regular promotions and contests for traders | |
| 2000+ trading assets, 60+ currency pairs | ||
| EURUSD Average spread 01 pip | ||
| Overall Cons | No forex bonuses | no PAMM investments |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | withdrawals can take up to 30 minutes |
IC Markets vs WelTrade: Safety and Regulation
| Regulated By: | IC Markets | WelTrade |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
Commission on International Financial Services (jurisdiction - Belize) |
IC Markets vs WelTrade: Trading Conditions
| Trading Conditions | IC Markets | WelTrade |
|---|---|---|
Minimum Deposit |
$200 |
$25 |
Trading Platforms |
MT4, MT5, cTrader |
MetaTrader 4, MetaTrader 5, MetaTrader 4 MultiTerminal, WebTrader |
Max Leverage (Futures) |
1-500 |
1-1000 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, metals, CFD shares, indices, goods, cryptocurrencies |
Trading assets |
2000+ |
200+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Demo, Micro, Premium, Pro, ZuluTrade, and Crypto |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, EUR |
IC Markets vs WelTrade: Fees
Forex Trading Fees
| Fee | IC Markets | WelTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
1.4 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
Not supported |
ECN Account EUR Average Spread |
0.02 pip |
Not supported |
CFD Trading Fees
| Fee | IC Markets | WelTrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | IC Markets | WelTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
Debit/Credit Card – 1.2% + 3 USD for withdrawals in USD and 1.2% + 2.7 EUR for withdrawals in EUR. Skrill and Qiwi – 1% Neteller – 2% |
Inactivity Fee |
No |
$15 per month after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IC Markets vs WelTrade: Trading Assets
| Asset Name | IC Markets | WelTrade |
|---|---|---|
Overall |
2000+ trading assets |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
No |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or WelTrade: Investment Programs
| Asset Name | IC Markets | WelTrade |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: WelTrade or IC Markets
| IC Markets | WelTrade | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
No |
Others |
No |
Webtrader |
|
|
|
IC Markets vs WelTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | WelTrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
IC Markets vs WelTrade: Research
| Research Type | IC Markets | WelTrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
IC Markets vs WelTrade: Education
| Education Type | IC Markets | WelTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
WelTrade vs IC Markets: Support
| Support Features | IC Markets | WelTrade |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs WelTrade: Forex Bonuses and Promo
| Promo | IC Markets | WelTrade |
|---|---|---|
Forex Bonus |
Not offered |
No |
Affiliate Program |
% of trading commissions |
For each invited trader, the client can receive $10 |
Other Promos |
Bonus of 100% with each replenishment of the trade account with the amount of USD/EUR 200. |
|
|
|
|
Top 5 Reviews on WelTrade
-
Comment
I started collaborating with the broker Weltrade when I became interested in cryptocurrency. Here, speculative trading was offered on the MT4 platform. Of course, with such trading, there was no actual purchase of cryptocurrency, but speculations, especially with margin trading, attracted me. Later on, I started trading with regular currency pairs as well. I consider Weltrade to be a decent company.
-
Comment
Weltrade cannot be trusted. They tell beautiful stories and offer favorable conditions. But in fact, weltrade does everything to ensure that your money stays with them forever. I traded here for four months and lost my entire deposit due to technical glitches. Nobody returned my money.
-
Comment
Tried trading with Weltrade, and honestly, I didn't like it. I'm not going to stay on a platform where the order execution speed is very slow. Even two seconds for order processing is too much, and with Weltrade, orders are processed in 30 seconds or more. This is crucial for me. I don't see the point. Besides, I can't say I'm thrilled with the conditions. This broker is not my choice!
-
Comment
Weltrade has good conditions only in words. But in fact, they are ordinary scammers who register accounts in a company with offshore jurisdiction. And then they don’t even hide their mockery when you try to threaten them with claims to regulators. The Weltrade platform may not start for several hours during the day. And then there are huge gaps. And that's okay for them.
-
Comment
Initially, Weltrade was a fraudulent structure. Maybe they withdrew money for someone so that they would have something to refer to. But for the most part, these scammers deceived those who wanted to earn and simply took their money. Experienced traders did not trade with Weltrade, but novice traders fell into the trap of scammers.
Top 5 Reviews on IC Markets
-
Comment
I decided to use the services of IC Markets not long ago. Now I think that not all negative reviews are justified. This is a good broker and I have already withdrawn profits several times, everything went without problems. IC Markets’ rates differ from those of other brokers. But you can adapt to this problem.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
-
Comment
I was looking for a reliable broker and noticed the long existence and good reputation of ICMarkets. Moreover, my friend, who has been trading for a long time, recommended contacting them. After several years, I have become a more experienced trader and I am satisfied with the work of the broker.
-
Comment
I have been trading with IC Markets for some time now and I can draw some conclusions. The platform works stably, which indicates a serious approach to its work. Spreads are quite optimal, although for cryptocurrencies they are higher than average as compared to those of its competitors. Slippages occur, there is nothing you can do about it. But there are no problems with requotes at all. In general, I think it’s possible to rate IC Markets “good”.
-
Comment
There are many advantages to IC Markets broker. First, of course, is the presence of a license from a reputable regulator. Accounts can be opened for citizens of many countries. Second, the platform works very well. Order execution speed is high, and you can actively trade manually or with the help of an advisor. I am quite satisfied with IC Markets as a broker.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!