IC Markets vs Binance, 2023 Update
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IC Markets Rating
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Binance Rating
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IC Markets vs Binance Guide |
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Read our In-Depth IC Markets vs Binance Review - for 2023
This IC Markets vs Binance review has been updated for 2023 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations for each broker, the content in this IC Markets vs Binance review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
Binance Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs Binance
Every online trading platform will have a few pros and cons, and no IC Markets and Binance review would be complete without showing both sides. Compare IC Markets and Binance to understand how they stack up against each other before you create an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
So you are looking for a professional broker and are choosing between IC Markets or Binance. Who should you choose?
This IC Markets vs Binance comparison contains the most recent information so you can easily compare Binance against IC Markets.
If you're a new entrant in the realm of trading and brokerages, so many nuances will be perplexing for you. Getting into the area of trading demands expert analyzing skills and thorough knowledge. You will get adept at all of the concepts of brokerage since you continue trading. For starters, you need to choose the right agent who'll be transparent with you constantly.
In this fast-paced universe of stock markets and trading, you'll need advice to make proper decisions. A professionally lead investment plan has the potential to generate hefty returns. IC Markets and Binance are two such stages that will take you along with your investment into great heights. It's crucial to compare IC Markets vs Binance until you trust them with your cash.
Our IC Markets vs Binance comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and Binance side by side.
Our full IC Markets vs Binance Review covers all you need to learn about trading with either IC Markets or Binance. A fantastic agent can multiply your initial investments and give you positive profits. If you would like to earn profits, you must trade with a broker service that aligns with your investment objectives.
There is no sure-fire way to ensure profits; therefore, you must carefully assess your agent before you choose them. It's a common misconception that all brokers are the same, but that is not true. Wrong judgment, in the beginning, can put your investments at risk.
IC Markets and Binance are both brokers that have paved their way successfully into the broker world. In this review, we've tried to collate a number of the vital facets of both IC Markets and Binance. This review can help you to understand whether either Binance or IC Markets is a fantastic match for your investments or not. We have attempted to breakdown all of the features and charges for your advantage.
Benefits of IC Markets and Binance Compared
IC Markets has a minimum deposit of $200 while Binance offers a $100 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and Binance compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
IC Markets allows you to trade around 232 financial instruments whilst Binance allows you to trade around 232 financial instruments on their platform.
The more instruments you can trade on the IC Markets and Binance platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you should never want to miss out on a trading opportunity due to the limitations of IC Markets or Binance.
IC Markets and Binance Contact Details
Being able to contact your broker simply is a sign of a professional broker. IC Markets and Binance have the following contact details and social medias that you can use.
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| Broker | IC Markets | Binance |
| Telephone Number | +248 467 19 76 | +1 929 228 3440 |
| support@icmarkets.com | support@binance.com | |
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | Melita Court Level 3 Triq Giuseppe Cali Ta' Xbiex XBX 1420 Malta |
| IC Markets Twitter Account | Binance Twitter Account | |
| IC Markets Facebook Page | Binance Facebook Page | |
| IC Markets Instagram Account | Binance Instagram Account | |
| IC Markets LinkedIn Page | Binance LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | Binance YouTube Channel |
| Find Out More |
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Binance and IC Markets Mobile App Comparison
It is becoming increasingly important for brokers to offer simple-to-use apps that provide the same services as desktop platforms.
This part of comparing IC Markets and Binance will examine whether their mobile app meets all our requirements.
We rate overall the user-friendliness of the apps as better than average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Search Functions
While most brokers are good at this, there are some poor ones. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you have only traded US stocks, and you start typing 'Apple', will the software show you either the obscure Irish stock Applegreen or the Apple stock?
IC Markets vs Binance - Awards
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| Broker | IC Markets | Binance |
| Awards |
IC Markets have won several industry awards over the years they have been running as an online trading platform. We detail the most notable awards for IC Markets here.
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At the time of writing this Binance review, and despite Binance’s impressive offering, the company has surprisingly not garnered any awards to date. |
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IC Markets vs Binance - Frequently Asked Questions
IC Markets vs Binance - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
Binance was founded in 2017 and has its head office in Japan.
What is the minimum deposit for Binance or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for Binance is $100.
Depending on your circumstances, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both IC Markets and Binance are a good choice.
IC Markets vs Binance - Regulation And Licencing In More Detail
IC Markets is regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC).
Binance is regulated by Unregulated.
Binance is unregulated but IC Markets has a powerful set of rules for ensuring honest trading onto its platforms. For information encryption purposes, they provide industry-standard secure socket layer (SSL).
In accordance with their individual privacy regulation, client data is never to be shared with any other institutions or individuals. Including credit history and other financial information.
Compare IC Markets vs Binance Commission And Fees
IC Markets and Binance are online broker platforms, and many online brokerages charge lower prices than traditional brokerages tend to charge. The reason for this is that the businesses of online trading platforms are scaled better. In other words, an internet broker is not necessarily affected by the amount of customers they have.
But this doesn't necessarily mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to make money. There are mainly three different types of penalties for this purpose.
The first sort of fees to look out for are trading charges. Whenever you make a genuine trade, like buying a stock or an ETF, you're billed trading charges. In these cases, you're paying a spread, funding speed, or a commission. The sorts of trading fees and the rates differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread refers to the difference between the buying and selling cost. Financing or overnight rates are people that are billed when you hold a leveraged position for longer than daily.
Apart from trading fees, online agents also charge non-trading fees. These are determined by the actions you undertake on your accounts. They're charged for surgeries like depositing money, not trading for long periods, or withdrawals.
Generally, neither IC Markets or Binance charge high fees in comparison to other online agents. For operations other brokers fee for, they either do not charge a broker fee, or they charge a lesser sum. This can be beneficial for people who often exchange, such as daily or weekly trading.
However, non-trading fees billed by IC Markets and Binance are comparatively greater. As a result, you're charged more for non-trading activities on your trading account, like deposits and withdrawal. These aren't related to the sale and purchase of assets.
This IC Markets vs Binance review for 2023 breaks down every one of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And Binance
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| Broker | IC Markets | Binance |
| Minimum Deposit | $200 | $100 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | No |
| Find Out More |
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What Languages Do IC Markets And Binance Support?
Being able to communicate completely with your trading broker is a key way of comparing online brokers to find your perfect broker. Not only for support but to be sure you completely understand everything on their website and inside their application as it is a key factor to success when trading forex.
Here you will find the languages that both IC Markets and Binance offer communication in.
How Many Clients Do IC Markets and Binance Have?
Both IC Markets and Binance are well known and trusted. It is really important to work with an online broker you can trust and one of the most simple ways of establishing this is by knowing how many customers are using their services.
Below you will find details of how many customers IC Markets and Binance have
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| Broker | IC Markets | Binance |
| Clients / Users | 60,000+ | 13500000 |
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What Payment Methods Do IC Markets and Binance Accept?
IC Markets and Binance both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at IC Markets and Binance
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| Broker | IC Markets | Binance |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Payoneer | No | Yes |
| Neteller | Yes | No |
| Find Out More |
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What Can You Trade With IC Markets and Binance?
IC Markets offers 232 trading instruments and Binance offers 52.
Below you will find a full breakdown of what both IC Markets and Binance offer.
Compare IC Markets To All Other Brokers
Compare Binance To All Other Brokers