IC Markets vs AvaTrade - Fees Review included
Which broker is better IC Markets or AvaTrade? 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. AvaTrade is one of the top brokers in the financial market with the TU Overall Score of 7.16 out of 10. Find out more about TU Overall Score.
Feature | IC Markets | AvaTrade |
---|---|---|
Overall |
4.7 |
4.6 |
5 |
4.7 |
|
4.9 |
4.4 |
|
4.6 |
4.4 |
|
Investment Instruments |
4.9 |
4.2 |
Platforms and Charting Tools |
4.4 |
4.6 |
Deposit and Withdrawal |
4.6 |
4.7 |
Research |
4.3 |
4.4 |
Education |
4.4 |
4.8 |
Support |
4.6 |
4.6 |
Bonuses |
2.5 |
3.9 |
|
|
IC Markets vs AvaTrade: 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.
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 150 countries. It currently has over 200, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC), the Japanese FSA, and the South African FSCA. AvaTrade holds accreditation by the Central Irish Bank, the Abu Dhabi Financial Services Regulatory Authority, and the British Virgin Islands Financial Services Commission. AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 250 tools to customers.
IC Markets | AvaTrade | |
---|---|---|
Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Highly regulated broker, licenced on the territory of 5 continents |
Advanced ECN trading | a wide range of trading instruments | |
Order execution speed 40 mc | Swap-free account | |
Free VPS | Advanced copy trading tools | |
Trading servers in New York and London | A lot of educational content | |
Strong regulation | Low fees | |
2000+ trading assets, 60+ currency pairs | Optioins trading | |
EURUSD Average spread 01 pip | ||
Overall Cons | No forex bonuses | customer service efficiency and response time |
World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | There is no ECN account | |
Market maker(dealing desk) type of broker |
IC Markets vs AvaTrade: Safety and Regulation
Regulated By: | IC Markets | AvaTrade |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
AFCA (Australia) |
Yes |
Other Regulators |
Yes |
Central Bank of Ireland (No.C53877), B.V.I Financial Services Commission, South African Financial Sector Conduct Authority (FSCA No.45984), Japan - Financial Services Agency (License No.: 1662), the Financial Futures Association of Japan (License No.: 1574), Abu Dhabi Global Markets (ADGM), Israel Securities Authority (No. 514666577) |
IC Markets vs AvaTrade: Trading Conditions
Trading Conditions | IC Markets | AvaTrade |
---|---|---|
Minimum Deposit |
$200 |
$100 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, MT5, AvaTradeGo, AvaOptions |
Max Leverage (Futures) |
1-500 |
1-400 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Currency pairs, Forex Options, CFDs on stocks, cryptocurrencies, indices, metals, commodities |
Trading assets |
2000+ |
100+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Standard, Professional account |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
EUR, USD |
IC Markets vs AvaTrade: Fees
Forex Trading Fees
Fee | IC Markets | AvaTrade |
---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
0.9 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 | AvaTrade |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | IC Markets | AvaTrade |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$50 per quarter 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 AvaTrade: Trading Assets
Asset Name | IC Markets | AvaTrade |
---|---|---|
Overall |
2000+ trading assets |
1000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFD) |
Bonds |
Yes (CFD) |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
Yes |
Binary Options |
No |
No |
IC Markets or AvaTrade: Investment Programs
Asset Name | IC Markets | AvaTrade |
---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
Yes |
Other |
No |
Bonds |
Trading Platforms: AvaTrade or IC Markets
IC Markets | AvaTrade | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
AvaTradeGo, AvaOptions |
Others |
No |
No |
|
|
IC Markets vs AvaTrade: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | IC Markets | AvaTrade |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes (not for Australian and EU clients) |
Crypto |
No |
No |
IC Markets vs AvaTrade: Research
Research Type | IC Markets | AvaTrade |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
IC Markets vs AvaTrade: Education
Education Type | IC Markets | AvaTrade |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
AvaTrade vs IC Markets: Support
Support Features | IC Markets | AvaTrade |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs AvaTrade: Forex Bonuses and Promo
Promo | IC Markets | AvaTrade |
---|---|---|
Forex Bonus |
Not offered |
The broker offers its customers a one-time bonus upon first deposit (not for all markets) |
Affiliate Program |
% of trading commissions |
A trader can receive up to 400 US dollars for inviting friends. |
Other Promos |
||
|
|
Top 5 Reviews on AvaTrade
-
Comment
I decided to test the waters with AvaTrade by using their demo account, and I must say, the experience was quite good. It helped me get familiar with the platform and how trading works. Now, I'm considering transitioning to a real account. However, my final verdict hinges on how smooth the deposit and withdrawal processes are. If these aspects meet my expectations, AvaTrade will definitely earn a 5-star rating from me. Otherwise, it might drop to 3 or 4 stars. Nonetheless, I appreciate the overall experience and commend the team for their efforts.
-
Comment
Been using AvaTrade for a few weeks now, and I'm happy with the support they offer. They have a couple different ways to get help, which is convenient. There's an AI-powered chatbot that can answer basic questions, and you can also contact them via WhatsApp. That's pretty cool for quick inquiries. If you have a more complex issue, you can email their customer support team. They got back to me pretty quickly with a helpful answer when I had a question about withdrawal options. However, it would be even better if you could connect directly with a customer service rep through the chatbot. Right now, it just directs you to email if your question is complex. A live chat option would be nice too, for those times when you need help right away. Overall, AvaTrade's customer support is good, with multiple ways to get help. Just wish there was a more direct way to connect with a rep through the chatbot.
-
Comment
I mostly use AvaTrade for long-term stock investing, not day trading. Their fees seem reasonable for that, and they have a good selection of stocks to choose from. Can't speak for the other features like CFDs or options, but for basic stock investing, AvaTrade seems like a decent option. AvaTrade's mobile app is handy for checking on trades on the go, but it could be smoother. Sometimes it takes a while to load charts and info, which can be frustrating. Also, placing trades on the app feels a bit clunky compared to the desktop platform. Would be nice if they updated the app to be more user-friendly.
-
Comment
While trading with AvaTrade, there was one incident. I opened a trade on the USD/CAD currency pair. The trading was going smoothly, and there were no important news releases. Suddenly, there was a sharp market movement that hit my stop-loss. The movement was 29 pips. Later, everything returned to normal, but I incurred a loss. Over the course of a month, I pursued the review of my claim and the cancellation of the losing trade. The company canceled the losing trade, acknowledging such movement as outside of the market. Overall, with AvaTrade, you can fight for and defend your rights.
-
Comment
I requested a withdrawal from Avatrade at the end of the day and received my funds the next afternoon without delay or difficulty. I was pleasantly surprised by the speed of the transaction, especially considering that some companies delay payments for several months. Moreover, I make good profits from my trades on the Avatrade platform, which works flawlessly.
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.