IC Markets vs FXCC - Fees Review included
Which broker is better IC Markets or FXCC? 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. FXCC is one of the top brokers in the financial market with the TU Overall Score of 5.84 out of 10. Find out more about TU Overall Score.
| Feature | IC Markets | FXCC |
|---|---|---|
Overall |
4.7 |
3.9 |
5 |
4.3 |
|
4.9 |
4.5 |
|
4.6 |
2.5 |
|
Investment Instruments |
4.9 |
1 |
Platforms and Charting Tools |
4.4 |
3.9 |
Deposit and Withdrawal |
4.6 |
4.5 |
Research |
4.3 |
2.6 |
Education |
4.4 |
3.7 |
Support |
4.6 |
4.5 |
Bonuses |
2.5 |
4.5 |
|
|
|
IC Markets vs FXCC: 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.
FXCC was founded in 2010 and is headquartered in Cyprus. Broker specialized in ECN/STP technology with competitive spreads. The activity of this broker is regulated by CySEC.
| IC Markets | FXCC | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Tight spread ECN account |
| Advanced ECN trading | 3 ECN accounts | |
| Order execution speed 40 mc | 100% First Deposit Bonus | |
| Free VPS | ||
| Trading servers in New York and London | ||
| Strong regulation | ||
| 2000+ trading assets, 60+ currency pairs | ||
| EURUSD Average spread 01 pip | ||
| Overall Cons | No forex bonuses | Limited choice of trading assets |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Not everage spread info on the web site |
IC Markets vs FXCC: Safety and Regulation
| Regulated By: | IC Markets | FXCC |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
Republic of Vanuatu with registration number 14576 |
IC Markets vs FXCC: Trading Conditions
| Trading Conditions | IC Markets | FXCC |
|---|---|---|
Minimum Deposit |
$200 |
$100 |
Trading Platforms |
MT4, MT5, cTrader |
MetaTrader4, Mobile Platforms |
Max Leverage (Futures) |
1-500 |
1-300 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, Crypto, Metals, Indices, Bonds, Commodities, Energy, Shares |
Trading assets |
2000+ |
100+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
ECN Standard Account, ECN XL Account, ECN Advanced Account |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
EUR, USD, GBP |
IC Markets vs FXCC: Fees
Forex Trading Fees
| Fee | IC Markets | FXCC |
|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
1.5 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
ECN XL $0 |
ECN Account EUR Average Spread |
0.02 pip |
ECN XL 0.2 pips |
CFD Trading Fees
| Fee | IC Markets | FXCC |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | IC Markets | FXCC |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$35 for a bank transfer |
Inactivity Fee |
No |
Yes |
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 FXCC: Trading Assets
| Asset Name | IC Markets | FXCC |
|---|---|---|
Overall |
2000+ trading assets |
100+ |
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) |
No |
Bonds |
Yes (CFD) |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or FXCC: Investment Programs
| Asset Name | IC Markets | FXCC |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FXCC or IC Markets
| IC Markets | FXCC | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
No |
Others |
No |
No |
|
|
|
IC Markets vs FXCC: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | FXCC |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
IC Markets vs FXCC: Research
| Research Type | IC Markets | FXCC |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
IC Markets vs FXCC: Education
| Education Type | IC Markets | FXCC |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
No |
No |
FXCC vs IC Markets: Support
| Support Features | IC Markets | FXCC |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs FXCC: Forex Bonuses and Promo
| Promo | IC Markets | FXCC |
|---|---|---|
Forex Bonus |
Not offered |
100% first deposit bonus (not offered for EU clietns) |
Affiliate Program |
% of trading commissions |
Yes |
Other Promos |
||
|
|
|
Top 5 Reviews on FXCC
-
Comment
FXCC is obviously developing — a lot of interesting things are appearing. This makes me happy as a trader. It has been recommended to me for a long time and now I recommend FXCC to my friends.
-
Comment
fxcc offers excellent opportunities for all traders. Here you will find a wide variety of instruments: currencies, futures, stocks, and cryptocurrencies. Trading conditions are very flexible, which I especially like. The platform is working fine. Moreover, the withdrawal process at fxcc is very fast, which indicates the reliability of the broker.
-
Comment
Broker FXCC offers advanced trading tools such as automated trading systems that help traders maximize their profits with minimal risks. The execution is good, and the charts are accurate. All these features make FXCC an ideal choice for those who want to trade in the forex market.
-
Comment
fxcc is a very serious broker. I came here not so long ago, but I have already appreciated the level of the company. I hope that I will never be disappointed in them. Great work, guys!
-
Comment
The broker FXCC is a new company for me; I have been working with them for a short time, but overall, everything is satisfactory at the moment. I've checked the withdrawal, and everything is fine; they process the money quickly. The deposit is a bit large, but I tend to think that in life, if you want a lot, you have to invest a lot. The execution is good, and the charts are accurate. The FXCC manager has professionally assisted me with any questions.
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.