Comparison of IC Markets and Orbex
| Feature | IC Markets | Orbex |
|---|---|---|
| Broker | ||
| Year Founded | 2007 | 2010 |
| Broker Type | ECN, DMA | STP |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | SFSA, ASIC, CySEC, CMA | FSC, FSA, CySEC |
| Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| Spread | ⬊ Low | ⮕ Average |
| Maximum Leverage | 1:500 | 1:500 |
| Minimum Deposit | $200 | $100 |
| Base Currencies | USD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, HKD | USD, EUR, GBP, PLN |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, Bpay, FasaPay, Klarna, POLi, Rapidpay | Bank Wire, Visa/Mastercard, Skrill, Neteller, Perfect Money, UnionPay, FasaPay, POLi, ENet, Tether (USDT), PayRetailers, VN Pay, Virtual Pay |
| Inactivity Fee | ✖ | $20/month on dormant accounts after ~6 months of inactivity |
| Interest on Margin | ✖ | ✖ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
| Protection Size | €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, Bonds, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks (CFDs), Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | IC Markets Review | Orbex Review |
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
About Orbex
Orbex is a multi-entity broker regulated by the Mauritius FSC (global) with additional group entities in Cyprus and Seychelles. Traders can choose between three clear account tiers — Starter (no commission), Premium (raw pricing, $8 RT), and Ultimate (raw pricing, $5 RT) — on MT4 or MT5. Minimum deposits start from $100, maximum leverage is up to 1:500 (entity-dependent), and stop-out/margin call levels are typically 20%/100%. The product list covers 70+ FX pairs, stock and index CFDs, metals, energies and a set of major cryptocurrencies. Convenience extras include copy trading, Islamic (swap-free) terms for eligible clients, and a free VPS when account balance/deposit criteria are met. Funding supports cards, bank wires, major e-wallets and USDT, with near-instant processing for most methods; the broker generally doesn’t charge funding fees, though processors may.
Pros
- Three straightforward account types on MT4/MT5
- Raw pricing on Premium/Ultimate
- Leverage up to 1:500 (outside EU)
- Copy trading, Islamic accounts, and free VPS
- Broad funding stack incl. cards, e-wallets, and USDT
Cons
- Inactivity fee
- Instrument counts on MT4/5 can vary by account
IC Markets & Orbex Regulation
| Feature | IC Markets | Orbex |
|---|---|---|
Companies | Raw Trading Ltd, International Capital Markets Pty Ltd, IC Markets (EU) Ltd, IC Markets (KE) Limited | Orbex Global Limited; Orbex Limited; Orbex Ltd |
Countries | Seychelles, Australia, Cyprus, Kenya | Mauritius, Seychelles, Cyprus |
Regulators | SFSA, ASIC, CySEC, CMA | FSC, FSA, CySEC |
Investor Protection | Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
Investor Protection Size | €20 000 | €20 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | IC Markets | Orbex |
|---|---|---|
STP Account | ||
| Account Name | — | Starter |
| Min Deposit | — | $100 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 1.5 |
| Fee | — | No |
| Max Leverage | — | 1:500 |
| Stop Out | — | 20% |
| Margin Call | — | 100% |
ECN Account | ||
| Account Name | Standard | Premium |
| Min Deposit | $200 | $500 |
| Lot Size | 0.01 | 0.01 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0.6 | 0.0 |
| Fee | No | $8 per 1 lot |
| Max Leverage | 1:500 | 1:500 |
| Stop Out | 50% | 20% |
| Margin Call | 100% | 100% |
Zero Account | ||
| Account Name | Raw Spread | Premium |
| Min Deposit | $200 | $500 |
| Lot Size | 0.01 | 0.01 |
| Spread Type | Floating | Floating |
| Execution | Market | Market |
| Min Spread | 0 | 0.0 |
| Fee | $7 per 1 lot | $8 per 1 lot |
| Max Leverage | 1:500 | 1:500 |
| Stop Out | 50% | 20% |
| Margin Call | 100% | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | IC Markets | Orbex |
|---|---|---|
Base currencies | USD, EUR, GBP, AUD, CHF, JPY, NZD, SGD, HKD | USD, EUR, GBP, PLN |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Neteller, PayPal, Skrill, Bpay, FasaPay, Klarna, POLi, Rapidpay | Bank Wire, Visa/Mastercard, Skrill, Neteller, Perfect Money, UnionPay, FasaPay, POLi, ENet, Tether (USDT), PayRetailers, VN Pay, Virtual Pay |
Inactivity fee | $20/month on dormant accounts after ~6 months of inactivity | |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | IC Markets | Orbex |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
Execution Speed | 40 ms | - |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | average |
Trading Assets
| Asset | IC Markets | Orbex |
|---|---|---|
Currencies | 61 | 36 |
Indices | 25 | 5 |
Stocks | 2175 | 146 |
Cryptocurrencies | 21 | 11 |
Bonds | 10 | 0 |
Metals | 7 | 4 |
Energies | 5 | 1 |
Soft Commodities | 8 | 3 |
ETFs | 38 | 0 |
Education and Analytics
| Feature | IC Markets | Orbex |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Customer Support
| Contact | IC Markets | Orbex |
|---|---|---|
Email | support@icmarkets.com | support@orbex.com |
Phone | +2484671976 | +442035198140 |
Telegram | — | Telegram |
Facebook | ||
LinkedIn | ||
YouTube | — | YouTube |
Instagram | ||
Twitter | ||
TikTok | — | TikTok |
Which Broker is Better?
After comparing IC Markets and Orbex, 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.