IC Markets vs InstaForex - Fees Review included
Which broker is better IC Markets or InstaForex? 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. InstaForex is one of the top brokers in the financial market with the TU Overall Score of 8.22 out of 10. Find out more about TU Overall Score.
| Feature | IC Markets | InstaForex |
|---|---|---|
Overall |
4.7 |
4.5 |
5 |
4.5 |
|
4.9 |
3.5 |
|
4.6 |
4.6 |
|
Investment Instruments |
4.9 |
4.8 |
Platforms and Charting Tools |
4.4 |
4.4 |
Deposit and Withdrawal |
4.6 |
5 |
Research |
4.3 |
4.6 |
Education |
4.4 |
4.8 |
Support |
4.6 |
4.7 |
Bonuses |
2.5 |
5 |
|
|
|
IC Markets vs InstaForex: 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.
InstaForex is an international company that has been providing services in the Forex currency market since 2007. Today, more than 7 million traders worldwide use the services of this broker. InstaForex offers its clients access to 300 trading instruments, such as PAMM Investment and ForexCopy system to copy trading of successful traders. The company’s activity is regulated by the British Virgin Islands Financial Services Commission (FSC) in accordance with the Securities and Investment Business Act. InstaForex has a reputation for responsible and professional trading practices. In 2016, the company received the UK Forex Best Social Broker Award, in 2018 was named the Best Forex Platform for Trading Cryptocurrency, and in 2019 Best Asian Broker and the Best Eastern European broker.
| IC Markets | InstaForex | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Regulated Forex Broker |
| Advanced ECN trading | 2500+ trading assets | |
| Order execution speed 40 mc | Individual online training | |
| Free VPS | Advances news and analytitc platforms | |
| Trading servers in New York and London | Free VPS service | |
| Strong regulation | High exacution speed | |
| 2000+ trading assets, 60+ currency pairs | No deposit and withdrawal fees | |
| EURUSD Average spread 01 pip | Deposits in crypto | |
| $1000 No deposit bonus (Only for international entety) | ||
| Overall Cons | No forex bonuses | High spreads and trading fees |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Low exacution speed |
IC Markets vs InstaForex: Safety and Regulation
| Regulated By: | IC Markets | InstaForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
FSC (British Virgin Islands) |
IC Markets vs InstaForex: Trading Conditions
| Trading Conditions | IC Markets | InstaForex |
|---|---|---|
Minimum Deposit |
$200 |
$1 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, MT5, InstaForex MultiTerminal |
Max Leverage (Futures) |
1-500 |
1:1000, 1:30 (for EU clients) |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
2000+ |
2500+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica for international entity, ECN, ECN PRO, ECN VIP - For EU entity. |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
EUR, USD |
IC Markets vs InstaForex: Fees
Forex Trading Fees
| Fee | IC Markets | InstaForex |
|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
3 pips |
Standard Account Fee |
$0 |
0.03-0.07% |
ECN/STP Account Fee |
$3 per lot |
Raw spread (Just for EU Clients) |
ECN Account EUR Average Spread |
0.02 pip |
Raw spread (Just for EU Clients) |
CFD Trading Fees
| Fee | IC Markets | InstaForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | IC Markets | InstaForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$10 per month after 12 monthes without trades |
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 InstaForex: Trading Assets
| Asset Name | IC Markets | InstaForex |
|---|---|---|
Overall |
2000+ trading assets |
2500+ |
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) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or InstaForex: Investment Programs
| Asset Name | IC Markets | InstaForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: InstaForex or IC Markets
| IC Markets | InstaForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
InstaForex |
Others |
No |
No |
|
|
|
IC Markets vs InstaForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | InstaForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
IC Markets vs InstaForex: Research
| Research Type | IC Markets | InstaForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
IC Markets vs InstaForex: Education
| Education Type | IC Markets | InstaForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
InstaForex vs IC Markets: Support
| Support Features | IC Markets | InstaForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Messendgers |
IC Markets vs InstaForex: Forex Bonuses and Promo
| Promo | IC Markets | InstaForex |
|---|---|---|
Forex Bonus |
Not offered |
$1000 no deposit bonus |
Affiliate Program |
% of trading commissions |
Yes |
Other Promos |
||
|
|
|
Top 5 Reviews on InstaForex
-
Comment
Copying trades on InstaForex is another interesting passive income opportunity I have really been active on after learning about it. I am not saying that all the strategies I copied from the expert traders on the platform resulted in profits but a higher percentage was profitable. To be on a safer end when copying trades, it is important that you evaluate the trader's profile and performance in the market before you choose to compare them. I always assess and evaluate the traders trading history. Check how many days the trader has been trading and total profit and equity. Copy multiple traders to spread your risk and make sure the traders you follow employ a variety of trading techniques. If you would rather close your trades within a 12-hour window or the same day, then follow day traders.
-
Comment
It is important that you closely monitor the market before opening a position if you are trading within a one-day time frame. I use the Bolinger bands, stochastic oscillator, and average directional index and they are on my top indicators list when I choose the 1 day time frame. The average directional index helps me determine a trend momentum and strength, the Bollinger bands help to identify price patterns, and the stochastic oscillator compares the closing price of an instrument to the range of its price over a certain time.
-
Comment
You can immediately access the InstaForex web terminal to start trading. You can login as a client or guest. The guest account is mostly a paper account and it is one of my favorites especially when I want to test a trading strategy. The web terminal is sectioned in a very concise manner. You select between the classic to view the instrument listing and their current prices and can immediately navigate to the charts of the pairs you select by clicking on the chart symbol at the right-hand end of the listed assets. The terminal is arranged so users can identify and know where to be depending on what they want to do atthe moment. So if the MetaTrader platforms might look hectic for you as a new trader, the InstaForexForex terminal can provide with a friendly and colourful interface to trade.
-
Comment
I liked the copy trading service from InstaForex. Perhaps traders who don't have much trading experience expect to make a profit of up to 100 percent, but that's not the case! So I'm very happy to have a return of up to 20 percent per month with this service; these are good overall results.
-
Comment
InstaForex can be considered a reliable broker. I have been trading here for over a year and have withdrawn my profits more than once. There are problems, but not such as to accuse this project of fraud. The platform works almost flawlessly, although slippages and gaps sometimes occur. InstaForex withdraws profits without any problems, but you need to take fees into account.
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.
- IC Markets vs FxPro
- Pepperstone vs IC Markets
- Capital.com vs IC Markets
- IC Markets vs AMP Global
- IC Markets vs NinjaTrader
- IC Markets vs Moneta Markets
- IC Markets vs Vantage
- IC Markets vs BlackBull Markets
- IC Markets vs SimpleFX
- IC Markets vs London Capital Group (LCG)
- IC Markets vs FXCC
- IC Markets vs Tradeview
- IC Markets vs Fullerton Markets
- IC Markets vs Trading 212
- IC Markets vs FXORO
- IC Markets vs BDSwiss
- IC Markets vs Amarkets
- IC Markets vs MultiBank
- IC Markets vs City Index
- IC Markets vs Swissquote
- IC Markets vs IG
- IC Markets vs Saxo Bank
- IC Markets vs Dukascopy
- IC Markets vs LiteForex
- IC Markets vs WelTrade
- IC Markets vs FXTM
- IC Markets vs CMC Markets
- IC Markets vs FP Markets
- IC Markets vs OctaFX
- IC Markets vs HotForex
- IC Markets vs TD Ameritrade
- IC Markets vs FBS
- IC Markets vs Pepperstone
- IC Markets vs Fusion Markets
- IC Markets vs XTB
- IC Markets vs Interactive Brokers
- IC Markets vs AvaTrade
- IC Markets vs Forex.com
- IC Markets vs Kot4x
- IC Markets vs HugosWay
- IC Markets vs Libertex
- IC Markets vs XM
- FXTM vs IC Markets
- Oanda vs IC Markets
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.