IC Markets vs Swissquote - Fees Review included
Which broker is better IC Markets or Swissquote? 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 7.46 out of 10. Swissquote is one of the top brokers in the financial market with the TU Overall Score of 6.93 out of 10. Find out more about TU Overall Score.
| Feature | IC Markets | Swissquote |
|---|---|---|
Overall |
4.7 |
4.3 |
5 |
4.8 |
|
4.9 |
3.6 |
|
4.6 |
5 |
|
Investment Instruments |
4.9 |
4.3 |
Platforms and Charting Tools |
4.4 |
4.7 |
Deposit and Withdrawal |
4.6 |
4.0 |
Research |
4.3 |
4.5 |
Education |
4.4 |
4.6 |
Support |
4.6 |
4.0 |
Bonuses |
2.5 |
3.6 |
|
|
|
IC Markets vs Swissquote: 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.
The Swissquote brokerage firm has been operating in the Forex market since 1996. The company is regulated by the Swiss Financial Markets Authority (FINMA). The company is a member of the Swiss Bankers Association. It has offices in many financial capitals of the world: Zurich, London, Dubai, Hong Kong and is moderately popular among traders. The company falls short in the category of customer service when compared to other top companies and is significantly inferior to popular Forex brokers in many other respects also.
| IC Markets | Swissquote | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | availability of a license from an authoritative regulator |
| Advanced ECN trading | a wide range of financial services | |
| Order execution speed 40 mc | a large selection of deposit currencies | |
| 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 | high spreads and commissions |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | large deposit | |
| few promotions, bonuses, contests, or other special offers |
IC Markets vs Swissquote: Safety and Regulation
| IC Markets | Swissquote | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
€20,000 |
£85,000 €20,000 SGD 75,000 HKD 500,000 CHF 100 000 |
FCA UK Regulation |
No |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
Yes |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
Yes |
FSCA SA |
No |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
Yes |
No |
IC Markets vs Swissquote: Trading Conditions
| Trading Conditions | IC Markets | Swissquote |
|---|---|---|
Minimum Deposit |
$200 |
$1000 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, MT5, Advanced Trader |
Max Leverage (Futures) |
1-500 |
1-100 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, CFD, precious metals, stock indices, bonds, commodities, cryptocurrencies |
Trading assets |
2000+ |
10000+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Standard, Premium, Professional, Prime |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, EUR, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, CZK |
IC Markets vs Swissquote: Fees
| IC Markets | Swissquote | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,8 |
1,1 |
Standard acc. spread EUR/USD, max pips |
1,0 |
1,7 |
ECN Commission |
3,5 |
2,5 |
ECN Spread EUR/USD |
0,1 |
0,3 |
Deposit fee, % |
No |
0-1,9 |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
No |
No |
Inactivity fee, $ |
No |
10 |
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 Swissquote: Trading Assets
| Asset Name | IC Markets | Swissquote |
|---|---|---|
Overall |
2000+ trading assets |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
No |
Bonds |
Yes (CFD) |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or Swissquote: Investment Programs
| Asset Name | IC Markets | Swissquote |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
Themes Suggestions |
Trading Platforms: Swissquote or IC Markets
| IC Markets | Swissquote | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
Advanced Trader |
Others |
No |
No |
|
|
|
IC Markets vs Swissquote: Deposit and Withdrawal Methods
| IC Markets | Swissquote | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
No |
No |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
No |
No |
IC Markets vs Swissquote: Research
| Research Type | IC Markets | Swissquote |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
IC Markets vs Swissquote: Education
| Education Type | IC Markets | Swissquote |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Swissquote vs IC Markets: Support
| Support Features | IC Markets | Swissquote |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs Swissquote: Forex Bonuses and Promo
| Promo | IC Markets | Swissquote |
|---|---|---|
Forex Bonus |
Not offered |
No |
Affiliate Program |
% of trading commissions |
Recommend Swissquote Bank and receive cash bonuses of up to CHF 800 for every customer you refer. |
Other Promos |
No |
|
|
|
|
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.
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.