IC Markets vs Interactive Brokers, Who's Better?
Read our In-Depth IC Markets vs Interactive Brokers Review - for 2023
This IC Markets vs Interactive Brokers 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 Interactive Brokers review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
Interactive Brokers Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs Interactive Brokers
Every online trading platform has some pros and cons, and no IC Markets and Interactive Brokers review would be complete without having a balanced approach. Compare IC Markets and Interactive Brokers 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 an online trading platform and are choosing between IC Markets or Interactive Brokers. Which one is best in 2023?
Our IC Markets vs Interactive Brokers comparison contains the latest information so you can easily compare Interactive Brokers against IC Markets.
If you are a new entrant in the realm of trading and brokers, so many nuances will be confusing for you. Getting into the world of trading demands expert analyzing skills and thorough knowledge. You will acquire adept at all of the concepts of broker as you continue trading. For starters, you need to choose the right broker who will be clear with you constantly.
Within this fast-paced world of stock markets and trading, you will need guidance to make proper decisions. A professionally lead investment plan has the potential to generate hefty returns. IC Markets and Interactive Brokers are two such companies that will take you and your investment into great heights. It's crucial to compare IC Markets vs Interactive Brokers before you trust them with your cash.
Our IC Markets vs Interactive Brokers comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and Interactive Brokers side by side.
Our entire IC Markets vs Interactive Brokers Review covers all you will need to know about trading with either IC Markets or Interactive Brokers. A fantastic broker can multiply your first investments and give you positive profits. If you would like to earn profits, you must trade with a brokerage service that aligns with your investing objectives.
There is no sure-fire way to guarantee profits; therefore, you should carefully assess your broker before you select them. It's a common misconception that all agents are the same, but that is not correct. Wrong judgment, initially, can set your investments at risk.
IC Markets and Interactive Brokers are both brokers that have forged their way successfully to the broker world. In this review, we've attempted to collate a number of the important facets of both IC Markets and Interactive Brokers. This review will help you to know whether either Interactive Brokers or IC Markets is a fantastic fit for your own investments or not. We have attempted to breakdown all the features and charges for your advantage.
Benefits of IC Markets and Interactive Brokers Compared
IC Markets offers a minimum deposit of $200 while Interactive Brokers offers a $1 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and Interactive Brokers 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 Interactive Brokers has around 232 financial instruments available.
The more instruments you can trade on the IC Markets and Interactive Brokers 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 never want to miss out on a trading opportunity due to the limitations of IC Markets or Interactive Brokers.
IC Markets and Interactive Brokers Contact Details
Being able to contact a broker simply is a sign of a professional broker. IC Markets and Interactive Brokers have the following contact details and social medias that you can use.
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| Broker | IC Markets | Interactive Brokers |
| Telephone Number | +248 467 19 76 | +1 203 618 5800 |
| support@icmarkets.com | support@interactivebrokers.com | |
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | One Pickwick Plz, Greenwich, Connecticut 06830, US |
| IC Markets Twitter Account | Interactive Brokers Twitter Account | |
| IC Markets Facebook Page | Interactive Brokers Facebook Page | |
| IC Markets Instagram Account | Interactive Brokers Instagram Account | |
| IC Markets LinkedIn Page | Interactive Brokers LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | Interactive Brokers YouTube Channel |
| Find Out More |
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Interactive Brokers 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.
In this part of our comparison of IC Markets and Interactive Brokers we'll check whether either of their mobile apps tick all the boxes.
Overall, we rate the user-friendliness of both apps as better than average.
It is important that any trading app has user friendly capabilities especially with the
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 only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
IC Markets vs Interactive Brokers - Awards
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| Broker | IC Markets | Interactive Brokers |
| Awards |
IC Markets have won a lot of industry awards over the time they have been operating as a financial broker. We show the most recognised awards for IC Markets below.
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Interactive Brokers have won many industry awards over the time they have been operating as a financial broker. We detail the most recognised awards for Interactive Brokers here.
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| Find Out More |
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IC Markets vs Interactive Brokers - Frequently Asked Questions
IC Markets vs Interactive Brokers - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its headquaters in Australia.
Interactive Brokers was founded in 1977 and has its head office in United States.
What is the minimum deposit for Interactive Brokers or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for Interactive Brokers is $1.
Depending on your current situation, 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 Interactive Brokers are a good choice.
IC Markets vs Interactive Brokers - 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).
Interactive Brokers is regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. Is regulated by the Commission de Surveillance du Secteur Financier (CSSF). Is regulated by the Central Bank of Ireland (CBI, reference number C423427). Is licensed and regulated by the Central Bank of Hungary (Magyar Nemzeti Bank) under no. H-EN-III-623/2020. Is regulated by the Hong Kong Securities and Futures Commission. Is a member of NSE, BSE, SEBI. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Is regulated by Kanto Local Finance Bureau (Registration No.187). Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917)..
Both IC Markets and Interactive Brokers have a powerful set of rules for ensuring honest trading onto their own platforms. For information encryption functions, they supply industry-standard secure socket layers (SSL).
As per their privacy regulations, customer information is to not be shared with any other institutions or individuals. This includes credit history and other financial details.
Compare IC Markets vs Interactive Brokers Commission And Fees
IC Markets and Interactive Brokers are online broker platforms, and many online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the businesses of online brokerages are scaled better. In other words, an online broker isn't necessarily influenced by the number of clients they have.
But this does not necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for various services to earn money. There are primarily three different types of fees for this objective.
The first kind of charges to look out for are trading fees. Whenever you make a genuine trade, like purchasing a stock or an ETF, you are charged trading charges. In these cases, you are spending a spread, financing rate, or a commission. The sorts of trading charges and the rates differ from broker to broker.
Commissions could be fixed or dependent on the traded volume. On the other hand, a spread denotes the difference between the buying and selling price. Funding or overnight prices are those who are charged when you maintain a leveraged position for more than a day.
Aside from trading charges, online agents also bill non-trading fees. These are determined by the actions you undertake on your account. They're charged for operations like depositing money, not investing for lengthy periods, or withdrawals.
In general, neither IC Markets or Interactive Brokers charge high fees compared to other online agents. For operations other agents charge for, they do not charge a broker fee, or they charge a lesser amount. This can be beneficial for those who regularly trade, such as weekly or daily trading.
But, non-trading fees billed by IC Markets and Interactive Brokers are relatively higher. As a result, you are charged more for non-trading activities on your trading account, like withdrawal and deposits. These aren't related to the sale and purchase of assets.
This IC Markets vs Interactive Brokers review for 2023 breaks down each of the relevant non-trading fees for you in detail.
Compare Broker Fees For IC Markets And Interactive Brokers
What Languages Do IC Markets And Interactive Brokers Support?
Being able to talk easily with your online broker is a key part of comparing trading platforms to find the best trading partner. Not only for support but to be sure you completely understand everything on their site and inside their app as it is a key factor to success when trading forex.
Below you can find all the languages that both IC Markets and Interactive Brokers offer communication in.
How Many Clients Do IC Markets and Interactive Brokers Have?
Both IC Markets and Interactive Brokers are well known and trusted. It is important to work with an online broker that is professional and one of the most simple ways of understanding this is by knowing how many clients are using their services.
Below you will find details of how many users IC Markets and Interactive Brokers are active on their platform
What Payment Methods Do IC Markets and Interactive Brokers Accept?
IC Markets and Interactive Brokers 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 Interactive Brokers
What Can You Trade With IC Markets and Interactive Brokers?
IC Markets offers 232 trading instruments whilst Interactive Brokers offers 100.
Below you will find a full breakdown of what both IC Markets and Interactive Brokers offer.
Compare IC Markets To All Other Brokers
Compare Interactive Brokers To All Other Brokers