FXTM vs IC Markets - Fees Review included
Which broker is better FXTM or IC Markets? Our expert assessment conducted according to TU’s own methodology showed that FXTM is one of the top brokers in the financial market with the TU Overall Score of 5.9 out of 10. IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | IC Markets |
|---|---|---|
Overall |
4.5 |
4.7 |
4.9 |
5 |
|
4.7 |
4.9 |
|
4.5 |
4.6 |
|
Investment Instruments |
4.2 |
4.9 |
Platforms and Charting Tools |
4.3 |
4.4 |
Deposit and Withdrawal |
4.6 |
4.6 |
Research |
4.5 |
4.3 |
Education |
4.6 |
4.4 |
Support |
4.4 |
4.6 |
Bonuses |
2.9 |
2.5 |
|
|
|
FXTM vs IC Markets: Pros and Cons
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
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.
| FXTM | IC Markets | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 |
| Stock baskets | Advanced ECN trading | |
| 3 types of ECN accounts | Order execution speed 40 mc | |
| Low fees and near zero spreads | Free VPS | |
| Well regulated forex broker | Trading servers in New York and London | |
| FXTM invest copy trading platform | Strong regulation | |
| Trading signals and trading calculators tools | 2000+ trading assets, 60+ currency pairs | |
| EURUSD Average spread 01 pip | ||
| Overall Cons | Lack of cryptocurrency | No forex bonuses |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 |
FXTM vs IC Markets: Safety and Regulation
| Regulated By: | FXTM | IC Markets |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
AFCA (Australia) |
Other Regulators |
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295). |
Yes |
FXTM vs IC Markets: Trading Conditions
| Trading Conditions | FXTM | IC Markets |
|---|---|---|
Minimum Deposit |
$50 |
$200 |
Trading Platforms |
MT4, MT5 |
MT4, MT5, cTrader |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-500 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Trading assets |
1000+ |
2000+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
cTrader, Raw Spread, Standard |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
FXTM vs IC Markets: Fees
Forex Trading Fees
| Fee | FXTM | IC Markets |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
0.62 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
$3 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.02 pip |
CFD Trading Fees
| Fee | FXTM | IC Markets |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FXTM | IC Markets |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
No |
Inactivity Fee |
$5 per month after 6 months of inactivity |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs IC Markets: Trading Assets
| Asset Name | FXTM | IC Markets |
|---|---|---|
Overall |
1000+ |
2000+ trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFD) |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
Yes (CFD) |
Binary Options |
No |
No |
FXTM or IC Markets: Investment Programs
| Asset Name | FXTM | IC Markets |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: IC Markets or FXTM
| FXTM | IC Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
Yes |
Appropriate platform |
FXTM invest |
IC Markets terminal |
Others |
No |
No |
|
|
|
FXTM vs IC Markets: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | IC Markets |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
FXTM vs IC Markets: Research
| Research Type | FXTM | IC Markets |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FXTM vs IC Markets: Education
| Education Type | FXTM | IC Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
IC Markets vs FXTM: Support
| Support Features | FXTM | IC Markets |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs IC Markets: Forex Bonuses and Promo
| Promo | FXTM | IC Markets |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
Not offered |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
% of trading commissions |
Other Promos |
||
|
|
|
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.
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
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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.