IC Markets vs TD Ameritrade - Fees Review included
Which broker is better IC Markets or TD Ameritrade? 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. TD Ameritrade is one of the top brokers in the financial market with the TU Overall Score of 4.35 out of 10. Find out more about TU Overall Score.
| Feature | IC Markets | TD Ameritrade |
|---|---|---|
Overall |
4.7 |
4.7 |
5 |
4.9 |
|
4.9 |
4.9 |
|
4.6 |
4.7 |
|
Investment Instruments |
4.9 |
4.1 |
Platforms and Charting Tools |
4.4 |
5 |
Deposit and Withdrawal |
4.6 |
4.1 |
Research |
4.3 |
4.6 |
Education |
4.4 |
4.3 |
Support |
4.6 |
4.5 |
Bonuses |
2.5 |
4.3 |
|
|
IC Markets vs TD Ameritrade: 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.
TD Ameritrade is an American broker that provides top-notch online services for trading and investing in securities on the OTC markets. The company was founded in 1975 under the name First Omaha Securities. It was reimagined as an online broker in 1998. TD Ameritrade is a member of FINRA and SIPC and currently serves over 11 million client accounts. The broker offers simple pricing, high-tech trading platforms with professional analytics, and a wide range of markets and investment products. TD Ameritrade was named Best Online Broker 2020 by StockBrokers.com and ranked first in the Platforms & Tools, Beginners, Education, and Customer Service categories.
| IC Markets | TD Ameritrade | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | One of the biggest international brokers |
| Advanced ECN trading | The broker offers high-tech author's terminals that work from desktop or mobile device | |
| Order execution speed 40 mc | Huge choice of available markets and trading instruments, clients have open access to the securities market, OTC, derivatives trading, and legal work with Forex instruments | |
| Free VPS | The company does not charge fees for trading in American and Canadian stocks, options, and ETFs | |
| Trading servers in New York and London | Low margin rates | |
| Strong regulation | The broker's regulators are FINRA, SEC and SIPC, which guarantee the protection of client funds and their return in the event of TD Ameritrade's bankruptcy or other default | |
| 2000+ trading assets, 60+ currency pairs | ||
| EURUSD Average spread 01 pip | S | |
| Overall Cons | No forex bonuses | A high entry threshold has been set for margin trading and investment in managed portfolios |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 |
IC Markets vs TD Ameritrade: Safety and Regulation
| Regulated By: | IC Markets | TD Ameritrade |
|---|---|---|
US Regulation |
No |
FINRA, SEC, CFTC |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
SIPC protection up to $500.000 The Hong Kong Securities and Futures Commission, and the Monetary Authority of Singapore (MAS). |
IC Markets vs TD Ameritrade: Trading Conditions
| Trading Conditions | IC Markets | TD Ameritrade |
|---|---|---|
Minimum Deposit |
$200 |
$1 |
Trading Platforms |
MT4, MT5, cTrader |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Max Leverage (Futures) |
1-500 |
1:2 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Hedge funds |
Trading assets |
2000+ |
18000+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Paper Account (Demo), Standard (Cash, Cash and Margin, Cash and Option, Cash, Margin and Option), Retirement (Traditional IRA, Roth IRA, Rollover IRA), Education (529 Plan, Coverdell), Specialty, Managed Portfolios |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD |
IC Markets vs TD Ameritrade: Fees
Forex Trading Fees
| Fee | IC Markets | TD Ameritrade |
|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
1.2 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 | TD Ameritrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Not supported |
Non-Trading Fees
| Fee | IC Markets | TD Ameritrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$25 per wire transfer, other withdrawal methods - free |
Inactivity Fee |
No |
No |
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 TD Ameritrade: Trading Assets
| Asset Name | IC Markets | TD Ameritrade |
|---|---|---|
Overall |
2000+ trading assets |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
Yes |
Bonds |
Yes (CFD) |
Yes |
Mutual funds |
No |
Yes |
Stock options |
No |
Yes |
Futures Trading |
Yes (CFD) |
Yes |
Binary Options |
No |
Yes |
IC Markets or TD Ameritrade: Investment Programs
| Asset Name | IC Markets | TD Ameritrade |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
Yes |
Other |
No |
Retirement plans, Bonds, Hedge Funds, Collateral Lending Program |
Trading Platforms: TD Ameritrade or IC Markets
| IC Markets | TD Ameritrade | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
Classic web platform, NextGen web platform, TD Ameritrade Mobile, Thinkorswim (web, desktop, mobile) |
Others |
No |
No |
|
|
IC Markets vs TD Ameritrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | TD Ameritrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
No |
Electronic Wallets |
Yes |
No |
Crypto |
No |
Electronic bank deposit (ACH), asset transfer from another brokerage company, by check via mobile app, physical certificates of shares |
IC Markets vs TD Ameritrade: Research
| Research Type | IC Markets | TD Ameritrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
IC Markets vs TD Ameritrade: Education
| Education Type | IC Markets | TD Ameritrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
TD Ameritrade vs IC Markets: Support
| Support Features | IC Markets | TD Ameritrade |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
FB Messenger, teletype, fax |
IC Markets vs TD Ameritrade: Forex Bonuses and Promo
| Promo | IC Markets | TD Ameritrade |
|---|---|---|
Forex Bonus |
Not offered |
Welcome bonus. When opening a brokerage account using the referral link of an existing client and making a deposit of $50,000, the new client receives from $150 to $1,000 on the balance. The exact amount of the bonus depends on the amount deposited. |
Affiliate Program |
% of trading commissions |
Referral program. A partner receives $50 for each attracted client who deposited $3,000 within 90 days from the date of opening an account. A partner can link a maximum of 10 friends and family members per day, but no more than 50 referrals per month. Not only a partner but also a referral can get from 150 to $1,000 to the account if they top it up with $50,000 or more. The offer is not available for individual retirement accounts (IRA) or for other accounts that are not taxed. |
Other Promos |
||
|
|
Top 5 Reviews on TD Ameritrade
-
Comment
In Thinkorswim by TD Ameritrade, money is hard to withdraw. I read reviews about Thinkorswim, there are a lot of real complaints about non-output. So I'm not the only one who was thrown in this office. I do not recommend anyone to trade here.
-
Comment
After 3 years, I decided to give TD Ameritrade a second chance, but nothing has changed here. As there were problems with the withdrawal of money, they remained, the commissions only increased. In general, there will be no quality trade here.
-
Comment
I have been trading for real since 2021 with them. Everything suited. In November, I decided to withdraw part of the funds. In general, December is in the yard, but there is no money. Gentlemen, draw your own conclusions.
-
Comment
18.08.2022 made an application, every day for some reason for which funds cannot be transferred. Since 23.08.2022, support has stopped responding altogether. if I had read the comments before, I would never have invested in this pyramid.
-
Comment
Big problem with withdrawals. Three weeks have passed since the withdrawal order was issued, the money is hanging on the deposit, appeals remain unanswered.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!