RoboForex Vs IC Markets Comparison

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RoboForex and IC Markets are large international Forex brokers occupying top spots in the Traders Union rating. In terms of many criteria, they are similar, which is why it is not easy to choose between them. TU experts compared the brokers by 11 specific criteria to help you make your choice more informed. The experts compared commissions and fees, regulation, number of trading assets, operation of customer support and other important criteria.

The comparison showed that different brokers can be chosen for different specific goals. In order to better understand the key differences of the operation and services of the brokers, review the comparative tables below and the conclusions for them.

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IC Markets vs. RoboForex: Overall Ranking

RoboForex IC Markets

Overall

4.8

4.6

Regulation

4.6

5

Fees

4.8

4.9

Trading Assets

5

4.6

Investment Instruments

4.8

4.9

Platforms and Charting Tools

4.9

4.2

Deposit and Withdrawal

4.8

4.6

Research

4.9

4.3

Education

4.8

4.4

Support

5.0

4.6

Bonuses

5

2.0

RoboForex Review

IC Markets Review

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IC Markets vs. RoboForex: A Brief Introduction

RoboForex is a top international Forex broker that has been offering services to traders and investors since 2009. It is a technology-intensive company, providing a huge choice of opportunities for trading automation: Forex Expert Advisors, Forex bot constructor, a copy trading platform. The broker also offers one of the best choices of trading platforms in the market – these are the popular MT4/MT5 and specialized proprietary platforms.

IC Markets has been in the market since 2007 and is currently the largest Forex broker in terms of trading volume and one of the leaders by the number of opened active client accounts. The company is based and licensed in Australia and regulated by ASIC. The company specializes in providing direct access to the Forex market through the use of the ECN technology with low fees. Servers in the largest Forex trading hubs are at the service of traders, which allows them to ensure the maximum speed of execution of transactions.

IC Markets and RoboForex Pros and Cons

RoboForex IC Markets

Overall Pros

Trading With Leverage up to 1:2000

World’s biggest Forex broker, over 180,000 clients and $1.11 trillion monthly turnover in 2023

Nearly 9,000 supported trading assets

Advanced ECN trading

Low trading and non-trading fees

Order execution speed is under 40 ms

Passive income with copy trading

Free VPS

Great bonus programs

Trading servers in New York and London

Instant withdrawal of funds

Strong regulation

Best choice of Forex EA, Forex bots builder

2000+ trading assets, 60+ currency pairs

Advanced trading platforms

EURUSD Average spread 01 pip

Overall Cons

A small number of currency pairs - 36, four accounts: Pro, Pro-Cent, ECN, Prime

No forex bonuses

RoboForex Vs IC Markets : Regulation

Both brokers are fully regulated and operate transparently. Both companies hold the European licenses of CySEC and also international licenses. At that, IC Markets is an Australian company headquartered in Sydney. It is regulated by the Australian Securities and Investment Commission (ASIC), Australian Financial Complaint Authority (AFCA).

Regulated By: RoboForex IC Markets

FCA (Great Britain)

No

Yes

CySec (Cyprus, EU)

Yes

Yes

ASIC (Australia)

No

No

Other Regulators

FSC (Belize)

AFCA (Australia)

Is IC Markets Regulated? Is it Legit or Scam? Is RoboForex Legit? Is it Safe or Scam?

RoboForex vs IC Markets: Trading Conditions

RoboForex offers margin trading with leverage up to 1:2000, a wide choice of markets and trading accounts for professionals and novice traders. Professionals will appreciate direct access to the Forex market with ECN accounts, and there are cent accounts for beginners that allow you to explore the services of the broker without the risk of losing too much money.

IC Markets offers trading with leverage up to 1:500, 10 account currencies (including Bitcoin). Professional traders working with these brokers are mostly focused on the ECN/STP account titled Raw Spread, which allows you to trade with close to zero spreads and transaction speed of 40 ms.

Trading Conditions RoboForex IC Markets

Minimum Deposit

$10

$200

Trading Platforms

MT4, MT5, cTrader, R StocksTrader, RoboForex,

MT4, MT5, cTrader

Max Leverage (Futures)

1:2000

1:500

Supported Markets

Forex, Stocks, Indices, ETFs, Groceries, Energy commodities, Metals

Forex, futures, CFDs on indices, commodities, metals, stocks and bonds

Trading assets

700+

2000+

Trading Accounts

Pro, Pro Cent, ECN, Prime

cTrader, Raw Spread, Standard

Base Account Currencies

USD, EUR

USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC

RoboForex Vs IC Markets : Trading Assets

Both brokers offer a wide selection of markets, including Forex currency pairs, stocks, CFDs on energies, metals,cryptocurrencies, ETF andindices. In terms of the total number of available assets RoboForex is ahead of IC Market. The special feature of IC Markets is availability of bond CFDs on the platform.

Asset RoboForex IC Markets

Overall

9700+ trading assets

2000+ trading assets

Forex

Yes

Yes

Stocks

Yes

Yes

Metals

Yes

Yes

Cryptocurrencies

Yes

Yes

Energy

Yes

Yes

Indices

Yes

Yes

ETFs

Yes

Yes

Bonds

No

Yes

Mutual funds

No

No

Stock options

No

No

Futures Trading

No

Yes

Binary Options

No

No

IC Markets fees vs RoboForex Fees

Both brokers offer good conditions for trading in the Forex market and a wide range of CFDs. RoboForex is distinguished by extra low fees on the ECN account - $20 per 1 million turnover, which is equivalent to $2 per lot. At the same time, IC Markets charges a $3 fee on the ECN account, while the broker’s liquidity is higher. This means that the minimum spread will always be lower and the drawdowns are not a threat to the majority of traders. On the Standard account of IC Markets, the spread is also lower.

Forex Trading Fees

Fee RoboForex IC Markets

Standard Account EURUSD Average Spread

1.4 pips

0.62 pips

Standard Account Fee

$0

$0

ECN Account Fee

$2 per lot

$3 per lot

ECN Account EUR Average Spread

0.1 pips

0.02 pips

CFD Trading Fees

In the majority of the CFD markets, the fee is included in the floating spread, the value of which can change. You can learn more about the fees on the websites of the brokers. In the majority of cases, the commissions and fees on IC Markets are lower.

Non-Trading Fees

RoboForex and IC Markets do not charge deposit or withdrawal fees. However, the payment systems may charge their own fees. Moreover, RoboForex compensates for the fees charged by the payment systems on deposits.

RoboForex IC Markets

Account Fee

0%

0%

Deposit Fee

0%

0%

Withdrawal Fee

0%

0%

Inactivity Fee

0%

0%

IC Markets or RoboForex: Investment Programs

Both brokers offer copy trading as an alternative to active trading. This passive income tool allows you to subscribe to successful traders and copy their trades automatically. IC Markets also offers its clients to transfer money into management using MAM/PAMM accounts.

RoboForex IC Markets

Copy Trading

Yes

Yes

MAM/PAMM

No

Yes

Managed Accounts

No

No

Other

No

No

Best Trading Platform: IC Markets or RoboForex

RoboForex has a substantial advantage in terms of the choice of trading platforms. In addition to the classic MetaTrader platforms, the broker offers cTrader and also proprietary platforms for trading in the stock and Forex markets.

RoboForex IC Markets

MT4

Yes

Yes

MT5

Yes

Yes

cTrader

Yes

No

Proprietary platform

R StocksTrader, RoboForex platforms

IC Markets platform

Others

No

No

RoboForex vs IC Markets: Deposit and Withdrawal

Both brokers offer the majority of the main deposit and withdrawal options, including bank transfers, debit/credit cards, electronic wallets of payment systems. Deposits and withdrawals with a bank transfer take up to three days; other methods take from several minutes to 1 working day.

Deposit Method RoboForex IC Markets PROCESSING TIME

Bank Transfer

Yes

Yes

1-3 working days

Credit/Debit Card

Yes

Yes

Instant

Electronic Wallets

Yes

Yes

Instant

Crypto

No

No

Not supported

RoboForex vs IC Markets: Research

RoboForex and IC Markets provide all necessary information for traders to be able to analyze the markets on their own. This includes the news, fundamental data, charts and trading history. RoboForex also offers trading ideas. For the VIP clients, the broker provides exclusive analytics.

Research Type RoboForex IC Markets

News Feed

Yes

Yes

Fundamental Data

Yes

Yes

Chart Analysis

Yes

Yes

Trading Ideas

Yes

No

E-Mail Reports

Yes

Yes

RoboForex Vs IC Markets : Education

Both brokers offer a demo account for testing and learning skills. RoboForex also has a cent account, which allows you to start trading, but at low risks. The informational platforms of RoboForex and IC Markets feature large volumes of educational content, which includes articles, video tutorials, guides. The brokers periodically hold webinars.

Education Type RoboForex IC Markets

Demo-account/Paper Trading

Yes

Yes

Webinars

Yes

Yes

Articles

Yes

Yes

Videos

Yes

Yes

Cent account

Yes

No

IC Markets vs RoboForex: Support

The brokers support operates 24/5 and is prepared to answer any questions of the clients. Multilingual support is available regardless of the method you choose – by phone, email, messaging apps.

Support Features RoboForex IC Markets

Working Days

24/5

24/5

E-mail

Yes

Yes

Phone

Yes

Yes

Online chat

Yes

Yes

Other

No

No

RoboForex vs IC Markets: Forex Bonuses and Promo

Best Forex Deposit bonuses

RoboForex is considerably ahead of its competitor by the number of Forex bonuses and promotions. In particular, new clients get $30 Welcome no deposit bonus, and also up to 120% bonus on first deposit. IC Market was not offering any bonuses at the time this review was prepared.

Also both brokers offer affiliate programs. Owners of blogs and social media accounts can advertise the services of the companies and earn a part of the trading commissions of the referred clients.

Promo RoboForex IC Markets

Special Offers

Welcome bonus $30
Classic first deposit bonus up to 120%

Not offered

Affiliate Program

Up to 40% of trading commissions

% of trading commissions

IC Markets or RoboForex: Which Broker is Actually Better in 2024?

RoboForex is ahead of IC Markets by the majority of criteria, including the number of trading assets, trading platforms, education, and analytics. The broker also offers a large number of bonuses, while IC Markets doesn’t have any. For the majority of clients, RoboForex will be the best option.

At the same time, IC Markets charges much lower fees, has higher liquidity and better regulation. This broker can be called a good option for professional traders, for whom these criteria play the deciding role. Professionals will also appreciate the very high speed of execution of transactions and free VPS.

RoboForex Vs IC Markets : Which Broker Is Better For Newbies?

Both brokers offer demo accounts to practice your trading skills and copy trading for earning passive income. However, RoboForex generally offers more options for beginners – the broker has a cent account, more educational content and lower minimum deposit.

RoboForex Vs IC Markets : Which Broker is Actually Cheaper?

Both brokers are considered cheap. In particular, their fees on ECN accounts are some of the lowest in the market in general. At the same time, IC Markets is on average much cheaper as it offers narrower spreads and higher liquidity.

Top 5 Reviews on IC Markets

  • IC Markets

    SHRISWAMISAMARTH

    22.03.2024

    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.

  • IC Markets

    Tanish

    09.03.2024

    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

  • IC Markets

    sujee

    27.02.2024

    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.

  • IC Markets

    hizahid

    06.02.2024

    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”.

  • IC Markets

    jubaer

    15.01.2024

    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.

Top 5 Reviews on RoboForex

  • RoboForex

    jamshaidgulraiz1985@gmail.com

    20.03.2024

    Comment

    RoboForex is a beginner-friendly platform. I was able to set up an account by following the instructions I saw in the blogs section. After setting up a demo account, I opened the web trader version of the trading platform, and the educational guides on how to trade I found on this trading platform have helped me in my trading journey. The educational resource explained the importance of studying the price movement of the asset you choose and how to select the order volume, of which 1.0 is the recommended value. Beginner traders can consider the educational resource available on the RoboForex platform as there are provisions for those looking to learn how to trade using major trading pairs like GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, etc.

  • RoboForex

    DanielBaig

    14.03.2024

    Comment

    I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company

  • RoboForex

    dhnawarathna

    12.03.2024

    Comment

    I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company.

  • RoboForex

    investorsukses

    26.02.2024

    Comment

    The analytical section of RoboForex is of very high quality. It provides strategies, market analysis, and advice from experienced professionals. It is clear that they paid much attention to analytical data. I have been working with this company for a long time and am completely satisfied with the services it provides. For experienced traders, this is a completely suitable option! RoboForex has a high quality service, without any problems or delays. Slippages are extremely rare.

  • RoboForex

    hobacelf

    13.02.2024

    Comment

    RoboForex is a good broker with the appropriate license. I have been working with it for the second year now and have seen no reason to change it. The conditions offered by RoboForex are optimal and I make profits. The company as a whole is client-oriented. Fees are within reasonable limits, and withdrawals take little time. I recommend RoboForex.

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?

RoboForex has a lower entry threshold at $10 against $200. The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on a real account, 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.

Which broker is better to trade stocks?

The choice of stocks is much wider on RoboForex – you can trade several thousands of US stocks and stocks of other countries. At the same time, IC Market charges lower fees for trading stocks and provides for a possibility to receive dividends.

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.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

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!

Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.

Olga’s motto: Do well and you’ll be well!