Comparison of FXOpen and IC Markets
| Feature | FXOpen | IC Markets |
|---|---|---|
| Broker | ||
| Year Founded | 2005 | 2007 |
| Broker Type | MM, STP, ECN | ECN, DMA |
| Dealing | A-book, B-book | A-book |
| Execution | Market | Market |
| Regulation | FCA, CySEC, ASIC | SFSA, ASIC, CySEC, CMA |
| Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView |
| Spread | ⬊ Low | ⬊ Low |
| Maximum Leverage | 1:500 | 1:500 |
| Minimum Deposit | $1 | $200 |
| Base Currencies | USD, EUR, CHF, GBP, JPY, AUD, SGD, BTC, XAU, LTC | USD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, HKD |
| Funding Methods | Bank Wire, Credit Card, Debit Card, FasaPay, Volet.com, WebMoney, Bitcoin (BTC), Tether (USDT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) | Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, Bpay, FasaPay, Klarna, POLi, Rapidpay |
| Inactivity Fee | $10 per month after 12 months | ✖ |
| Interest on Margin | ✖ | ✖ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
| Protection Size | £85 000 / €20 000 | €20 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✔ | ✔ |
| Copy Trading | ✔ | ✔ |
| VPS | ✔ | ✔ |
| MAM/PAMM | ✔ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Metals, Energies, Cryptocurrencies | Currencies, Indices, Stocks, ETFs, Bonds, Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | FXOpen Review | IC Markets Review |
About FXOpen
FXOpen is a well-established forex broker founded in 2005, recognized for its commitment to providing a transparent and reliable trading environment. Catering to both novice and experienced traders, FXOpen offers a wide range of trading instruments, including major and exotic currency pairs, commodities, indices, and cryptocurrencies. The broker supports multiple trading platforms, including MetaTrader 4, MetaTrader 5, and TickTrader, ensuring that traders have access to advanced tools and features for effective trading. FXOpen is regulated by several reputable financial authorities, which enhances its credibility and ensures the security of client funds. Additionally, FXOpen provides various account types to suit different trading styles and offers competitive spreads, leverage options, and robust customer support, making it a popular choice among forex traders worldwide.
Pros
- Regulated by multiple reputable financial authorities
- Offers MetaTrader 4, MetaTrader 5, and TickTrader
- Access to numerous currency pairs, commodities, indices, and cryptocurrencies
- Provides tight spreads and flexible leverage options
- Multiple account options tailored to different trading needs, including micro, standard, and ECN accounts
- Responsive and knowledgeable support team available through various channels
- Efficient order execution with minimal slippage
Cons
- Fewer promotional bonuses and incentives compared to some other brokers in the market
- Some accounts may charge inactivity fees if there are no trades over a certain period
About IC Markets
IC Markets is a leading forex and CFD broker, well-known for its exceptional trading conditions and advanced technology. Established in 2007 and regulated by multiple top-tier authorities, including ASIC, CySEC, and the FSA Seychelles, IC Markets has earned a solid reputation among retail and institutional traders alike. The broker is particularly favored by scalpers, day traders, and algorithmic traders for its ultra-tight spreads, fast execution speeds, and no-dealing-desk (NDD) model. With access to powerful platforms like MetaTrader 4, MetaTrader 5, and cTrader, IC Markets offers a seamless trading experience across various asset classes, including forex, indices, commodities, and cryptocurrencies. Its focus on transparency, competitive pricing, and exceptional liquidity ensures that traders can execute strategies efficiently. However, while IC Markets excels in trading infrastructure, it offers limited educational resources, which may not fully cater to beginners.
Pros
- Regulated by top-tier authorities (ASIC, CySEC)
- Tight spreads starting from 0.0 pips on Raw Spread accounts
- No dealing desk (NDD) model ensures transparent and fast execution
- Excellent platforms: MetaTrader 4, MetaTrader 5, and cTrader
- High liquidity and competitive pricing ideal for scalping and algorithmic trading
- Wide range of tradable assets, including cryptocurrencies
- Dedicated 24/7 customer support
Cons
- Restricted availability in some regions due to regulatory constraints
- Withdrawal fees may apply for certain methods
FXOpen & IC Markets Regulation
| Feature | FXOpen | IC Markets |
|---|---|---|
Companies | FXOpen Markets Limited, FXOpen Ltd, FXOpen EU Ltd, FXOpen AU Pty Ltd | Raw Trading Ltd, International Capital Markets Pty Ltd, IC Markets (EU) Ltd, IC Markets (KE) Limited |
Countries | Saint Kitts and Nevis, United Kingdom, Cyprus, Australia | Seychelles, Australia, Cyprus, Kenya |
Regulators | FCA, CySEC, ASIC | SFSA, ASIC, CySEC, CMA |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
Investor Protection Size | £85 000 / €20 000 | €20 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | FXOpen | IC Markets |
|---|---|---|
STP Account | ||
| Account Name | STP | — |
| Min Deposit | $10 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 1 | — |
| Fee | No | — |
| Max Leverage | 1:500 | — |
| Stop Out | 30% | — |
| Margin Call | 50% | — |
ECN Account | ||
| Account Name | ECN | Standard |
| Min Deposit | $100 | $200 |
| Lot Size | 0.01 | 0.01 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0 | 0.6 |
| Fee | $7 per 1 lot | No |
| Max Leverage | 1:500 | 1:500 |
| Stop Out | 50% | 50% |
| Margin Call | 100% | 100% |
Zero Account | ||
| Account Name | — | Raw Spread |
| Min Deposit | — | $200 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 0 |
| Fee | — | $7 per 1 lot |
| Max Leverage | — | 1:500 |
| Stop Out | — | 50% |
| Margin Call | — | 100% |
Cent Account | ||
| Account Name | Micro | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 1 | — |
| Fee | No | — |
| Max Leverage | 1:500 | — |
| Stop Out | 10% | — |
| Margin Call | 20% | — |
Crypto Account | ||
| Account Name | Crypto | — |
| Min Deposit | $1 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 1 | — |
| Fee | $100 per 1 lot | — |
| Max Leverage | 1:3 | — |
| Stop Out | 15% | — |
| Margin Call | 30% | — |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | FXOpen | IC Markets |
|---|---|---|
Base currencies | USD, EUR, CHF, GBP, JPY, AUD, SGD, BTC, XAU, LTC | USD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, HKD |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, FasaPay, Volet.com, WebMoney, Bitcoin (BTC), Tether (USDT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) | Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, Bpay, FasaPay, Klarna, POLi, Rapidpay |
Inactivity fee | $10 per month after 12 months | |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | FXOpen | IC Markets |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TickTrader, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView |
Execution Speed | 1 ms | 40 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | low |
Trading Assets
| Asset | FXOpen | IC Markets |
|---|---|---|
Currencies | 66 | 61 |
Indices | 12 | 25 |
Stocks | 553 | 2175 |
Cryptocurrencies | 41 | 21 |
Bonds | 0 | 10 |
Metals | 3 | 7 |
Energies | 3 | 5 |
Soft Commodities | 0 | 8 |
ETFs | 56 | 38 |
Education and Analytics
| Feature | FXOpen | IC Markets |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Contests
| Feature | FXOpen | IC Markets |
|---|---|---|
| Demo Contests | ||
| Is available | ||
| Contests List |
| — |
- TickTrader ChallengeStart Balance: $5000 · Prize Pool: $650 · Period: MonthlyLearn More
Customer Support
| Contact | FXOpen | IC Markets |
|---|---|---|
Email | sales@fxopen.com | support@icmarkets.com |
Phone | +6498010123 | +2484671976 |
Telegram | Telegram | — |
Facebook | — | |
LinkedIn | ||
YouTube | YouTube | — |
Instagram | ||
Twitter |
Which Broker is Better?
After comparing FXOpen and IC Markets, IC Markets comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
More Comparisons
Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.