IC Markets vs Forex Club, Who's The Best?
|
|
|
IC Markets Rating
|
Forex Club Rating
|
|
Losses can exceed deposits |
Your capital is at risk |
IC Markets vs Forex Club Guide |
|
Read our In-Depth IC Markets vs Forex Club Review - for 2023
This IC Markets vs Forex Club 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 Forex Club review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
Forex Club Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs Forex Club
Every online trading platform will have a few pros and cons, and no IC Markets and Forex Club review would be complete without having a balanced approach. Compare IC Markets and Forex Club to understand how they stack up against each other before you open 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 Forex Club. Which one is best in 2023?
Our IC Markets vs Forex Club comparison contains the most recent information so you can easily compare Forex Club against IC Markets.
If you're a new entrant in the world of trading and brokers, so many nuances will be perplexing for you. Getting into the world of trading demands expert analyzing skills and thorough knowledge. You will acquire adept at all the concepts of broker since you continue trading. For starters, you need to select the ideal 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 direct investment plan has the potential to create hefty returns. IC Markets and Forex Club are just two such platforms which will take you along with your investment into great heights. It is important that you compare IC Markets vs Forex Club before you trust them with your cash.
Our IC Markets vs Forex Club comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and Forex Club side by side.
Our full IC Markets vs Forex Club Review covers all you need to learn about trading using either IC Markets or Forex Club. A good broker can multiply your first investments and provide you favorable profits. If you want to make profits, you must trade with a brokerage service that contrasts with your investing objectives.
There's absolutely no sure-fire method to ensure profits; thus, you should carefully assess your broker before you select them. It is a frequent misconception that all brokers are exactly the same, but that's not true. Wrong judgment, initially, can put your investments at risk.
IC Markets and Forex Club are both brokers which have forged their way successfully to the brokerage world. In this review, we've attempted to collate a number of the vital facets of both IC Markets and Forex Club. This review will help you to understand whether either Forex Club or IC Markets is a good fit for your own investments or not. We have tried to breakdown all the features and charges for your convenience.
Benefits of IC Markets and Forex Club Compared
IC Markets offers a minimum deposit of $200 while Forex Club offers a $100 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and Forex Club 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 has around 232 financial instruments whilst Forex Club allows you to trade around 232 on their platform.
The more financial instruments you can trade on the IC Markets and Forex Club trading 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 seriously do not want to miss out on a trading opportunity due to the limitations of IC Markets or Forex Club.
IC Markets and Forex Club Contact Details
Being able to contact your broker easily is important. IC Markets and Forex Club have the following contact details and social medias that you can use.
|
|
||
|---|---|---|
| Broker | IC Markets | Forex Club |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | ||
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
| IC Markets Twitter Account | Forex Club Twitter Account | |
| IC Markets Facebook Page | Forex Club Facebook Page | |
| IC Markets Instagram Account | Forex Club Instagram Account | |
| IC Markets LinkedIn Page | Forex Club LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | Forex Club YouTube Channel |
| Find Out More |
|
|
Forex Club and IC Markets Mobile App Comparison
As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.
This part of comparing IC Markets and Forex Club 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 important that any trading app has user friendly capabilities especially with the
Search Functions
Although most brokers do OK in this area, there are some bad apples out there. 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 Forex Club - Awards
|
|
||
|---|---|---|
| Broker | IC Markets | Forex Club |
| Awards |
IC Markets have won numerous industry awards over the time they have been running as an online broker. We list the most recognised awards for IC Markets here.
|
At the time of writing this Forex Club review, and despite Forex Club’s impressive offering, the company has surprisingly not garnered any awards to date. |
| Find Out More |
|
|
IC Markets vs Forex Club - Frequently Asked Questions
IC Markets vs Forex Club - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
Forex Club was founded in 2008 and has its head office in Russia.
What is the minimum deposit for Forex Club or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for Forex Club 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 Forex Club are a good option.
IC Markets vs Forex Club - 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).
Forex Club is regulated by Cyprus Securities and Exchange Commission (CySEC).
Both IC Markets and Forex Club have a powerful set of rules for ensuring honest trading onto their individual platforms. For information encryption functions, they supply industry-standard secure socket layers (SSL).
As per their own privacy policies, client data is to not be shared with any other institutions or individuals. This includes credit history and other financial details.
Compare IC Markets vs Forex Club Commission And Fees
IC Markets and Forex Club are online broker platforms, and most online brokerages charge lower prices than traditional brokerages tend to charge. The cause of this is that the companies of online trading platforms are scaled much better. In other words, an online broker is not necessarily affected by the amount of clients they have.
But this does not necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for a variety of services to earn money. There are mainly 3 types of fees for this purpose.
The first sort of fees to look out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you're billed trading charges. In such cases, you are spending a spread, financing rate, or a commission. The sorts of trading charges and the prices vary from broker to broker.
Commissions can be fixed or determined by the traded quantity. On the flip side, a spread denotes the difference between the buying and selling cost. Financing or overnight prices are people that are charged when you maintain a leveraged position for longer than a day.
Aside from trading fees, online brokers also bill non-trading fees. These are determined by the actions you undertake on your account. They're charged for surgeries like depositing money, not investing for long periods, or withdrawals.
In general, neither IC Markets or Forex Club charge high fees in comparison to other online brokers. For operations other agents charge for, they do not charge a broker fee, or they charge a lesser sum. This can be beneficial for those who often trade, for example weekly or daily trading.
But, non-trading fees charged by IC Markets and Forex Club are relatively competitive. Consequently, you're charged more for non-trading activities on your trading account, such as deposits and withdrawal. These aren't related to the purchase and sale of assets.
This IC Markets vs Forex Club review for 2023 breaks down every one of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And Forex Club
|
|
||
|---|---|---|
| Broker | IC Markets | Forex Club |
| Minimum Deposit | $200 | $100 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
| Find Out More |
|
|
What Languages Do IC Markets And Forex Club Support?
Being able to communicate easily 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 understand everything on their website and inside their app as it is a key part of success when trading forex.
Below you will find all the languages that both IC Markets and Forex Club support.
How Many Clients Do IC Markets and Forex Club Have?
Both IC Markets and Forex Club are well established with their client base. It is really important to work with a broker that is reputable and one of the most simple ways of understanding this is by knowing how many clients they already work with.
Below you will find details of how many customers IC Markets and Forex Club are active on their platform
|
|
||
|---|---|---|
| Broker | IC Markets | Forex Club |
| Clients / Users | 60,000+ | 10,000+ |
| Find Out More |
|
|
What Payment Methods Do IC Markets and Forex Club Accept?
IC Markets and Forex Club 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 Forex Club
|
|
||
|---|---|---|
| Broker | IC Markets | Forex Club |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Payoneer | No | Yes |
| Neteller | Yes | No |
| Find Out More |
|
|
What Can You Trade With IC Markets and Forex Club?
IC Markets offers 232 trading instruments whilst Forex Club offers 103.
Below you will find a full breakdown of what both IC Markets and Forex Club offer.
Compare IC Markets To All Other Brokers
Compare Forex Club To All Other Brokers