IC Markets vs OctaFX, Who's Better?
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IC Markets Rating
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OctaFX Rating
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Losses can exceed deposits |
Losses can exceed deposits |
IC Markets vs OctaFX Guide |
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Read our In-Depth IC Markets vs OctaFX Review - Updated for 2023
This IC Markets vs OctaFX 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 OctaFX review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
OctaFX Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs OctaFX
Every online trading system will have some pros and cons, and no IC Markets and OctaFX review would be complete without showing both sides. Compare IC Markets and OctaFX to understand how they line 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 reputable broker and are choosing between IC Markets or OctaFX. Who should you choose?
This IC Markets vs OctaFX comparison contains the latest information so you can easily compare OctaFX against IC Markets.
If you are a new entrant in the realm of trading and brokers, so many details will be confusing for you. Getting into the area of trading demands expert assessing skills and thorough understanding. You will get adept at all the concepts of brokerage since you keep trading. For starters, you have to choose the ideal broker who'll be clear with you constantly.
In this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment program has the potential to generate hefty returns. IC Markets and OctaFX are two such trading platforms which will take you and your investment into great heights. It's important to compare IC Markets vs OctaFX until you trust them with your money.
Our IC Markets vs OctaFX comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and OctaFX side by side.
Our entire IC Markets vs OctaFX Review covers all you will need to learn about trading using either IC Markets or OctaFX. A good agent can multiply your initial investments and give you favorable profits. If you want to earn profits, you must trade with a broker service that contrasts with your investment objectives.
There's absolutely no sure-fire way to ensure profits; therefore, you should carefully analyze your agent before you select them. It is a common misconception that all brokers will be exactly the same, but that's not correct. Wrong judgment, initially, can put your investments in danger.
IC Markets and OctaFX are both brokers which have paved their way successfully into the brokerage world. Within this review, we have tried to collate some of the important aspects of both IC Markets and OctaFX. This review can allow you to understand whether either OctaFX or IC Markets is a good fit for your investments or not. We've attempted to breakdown all of the qualities and charges for your advantage.
Benefits of IC Markets and OctaFX Compared
IC Markets has a minimum deposit of $200 while OctaFX has a $5 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and OctaFX 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 OctaFX has around 232 available.
The more financial instruments you can trade on the IC Markets and OctaFX 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 never want to miss out on a trading opportunity due to the limitations of IC Markets or OctaFX.
IC Markets and OctaFX Contact Details
Being able to contact your broker simply is a sign of a professional broker. IC Markets and OctaFX have the following contact details and social medias that you can use.
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| Broker | IC Markets | OctaFX |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | smm@octafx.com | |
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | 133 HOUNDSDITCH, London, Greater London EC3A 7BX |
| IC Markets Twitter Account | OctaFX Twitter Account | |
| IC Markets Facebook Page | OctaFX Facebook Page | |
| IC Markets Instagram Account | OctaFX Instagram Account | |
| IC Markets LinkedIn Page | OctaFX LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | OctaFX YouTube Channel |
| Find Out More |
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OctaFX 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 OctaFX will examine whether their mobile app meets all our requirements.
Overall, we rate the user-friendliness of the apps as Better than the 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 OctaFX - Awards
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| Broker | IC Markets | OctaFX |
| Awards |
IC Markets have won many industry awards over the years they have been operating as an online trading platform. We detail the most recognised awards for IC Markets below.
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At the time of writing this OctaFX review, and despite OctaFX’s impressive offering, the company has surprisingly not garnered any awards to date. |
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IC Markets vs OctaFX - Frequently Asked Questions
IC Markets vs OctaFX - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
OctaFX was founded in 2014 and has its head office in St. Vincent and the Grenadines.
What is the minimum deposit for OctaFX or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for OctaFX is $5.
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 OctaFX are a good choice.
IC Markets vs OctaFX - 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).
OctaFX is regulated by Financial Conduct Authority (FCA).
Both IC Markets and OctaFX have a powerful collection of rules for ensuring honest trading onto their platforms. For information encryption functions, they supply industry-standard secure socket layers (SSL).
In accordance with their individual privacy regulations, customer data is to not be shared with any other institutions or individuals. Including credit history and other financial details.
Compare IC Markets vs OctaFX Commission And Fees
IC Markets and OctaFX 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 brokerages are scaled much better. That is, an internet broker is not necessarily influenced by the number of customers they have.
However, this does not mean that online brokers do not charge any fees. They charge prices of varying rates for a variety of services to make money. There are primarily three different types of fees for this purpose.
The first sort of fees to keep an eye out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you're charged trading fees. In such instances, you're spending a spread, financing rate, or a commission. The kinds of trading charges and the prices differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread denotes the gap between the buying and selling price. Funding or overnight rates are those that are charged when you hold a leveraged position for longer than daily.
Aside from trading charges, online brokers also bill non-trading fees. These are determined by the activities you undertake on your accounts. They're charged for operations like depositing cash, not trading for lengthy periods, or withdrawals.
In general, neither IC Markets or OctaFX 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 amount. This can be beneficial for those who regularly exchange, for example weekly or daily trading.
However, non-trading fees billed by IC Markets and OctaFX are comparatively lower. As a result, you're charged more for non-trading activities on your trading accounts, such as deposits and withdrawal. These are not about the sale and purchase of assets.
This IC Markets vs OctaFX review for 2023 breaks down every one of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And OctaFX
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| Broker | IC Markets | OctaFX |
| Minimum Deposit | $200 | $5 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
| Find Out More |
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What Languages Do IC Markets And OctaFX Support?
Being able to communicate easily with your online broker is a key part of comparing online brokers to find the best 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 part of success when trading forex.
Below you will find all the languages that both IC Markets and OctaFX support.
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| Broker | IC Markets | OctaFX |
| Languages Supported | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English |
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How Many Clients Do IC Markets and OctaFX Have?
Both IC Markets and OctaFX are well established with their customer base. It is important to work with a broker that is professional and one of the most simple ways of understanding this is by knowing how many customers are using their services.
Below you will find details of how many customers IC Markets and OctaFX have
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| Broker | IC Markets | OctaFX |
| Clients / Users | 60,000+ | 30,000+ |
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What Payment Methods Do IC Markets and OctaFX Accept?
IC Markets and OctaFX 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 OctaFX
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| Broker | IC Markets | OctaFX |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Payoneer | No | |
| Neteller | Yes | Yes |
| Find Out More |
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What Can You Trade With IC Markets and OctaFX?
IC Markets offers 232 trading instruments whilst OctaFX offers .
Below you will find a full breakdown of what both IC Markets and OctaFX offer.
Compare IC Markets To All Other Brokers
Compare OctaFX To All Other Brokers