IC Markets vs PaxForex, 2023 Update

Compare IC Markets vs PaxForex

Each platforms for online trading has some pros and cons, and a complete review of IC Markets and PaxForex should not be complete without having an objective perspective.

Assess IC Markets and PaxForex to understand how these platforms line up against one another prior to you choose to create an account. A side-by-side comparison helps to bring aspects in perspective to ensure that you are informed about what to expect.

So you are looking for a professional broker and are choosing between IC Markets or PaxForex. Who should you choose?

This IC Markets vs PaxForex comparison contains the most recent information so you can easily compare PaxForex against IC Markets.

If you are a new entrant in the realm of trading and brokerages, so many details will be perplexing for you. Getting into the area of trading requires expert analyzing skills and thorough knowledge. You'll get proficient at all of the concepts of broker as you continue trading. For starters, you have to choose the ideal broker who'll be clear with you always.

Within this fast-paced world of stock markets and trading, you will need advice to make proper decisions. A professionally direct investment program has the potential to create hefty returns. IC Markets and PaxForex are two such stages which will take you along with your investment to great heights. It's crucial to compare IC Markets vs PaxForex before you trust them with your money.

Our IC Markets vs PaxForex comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and PaxForex side by side.

Our entire IC Markets vs PaxForex Review covers all you will need to know about trading using either IC Markets or PaxForex. A fantastic broker can multiply your first investments and give you positive profits. If you would like to make profits, you must trade with a broker service that aligns with your investment objectives.

There's absolutely no sure-fire way to ensure profits; thus, you should carefully assess your broker before you choose them. It is a common misconception that all agents will be exactly the same, but that's not true. Wrong judgment, in the beginning, can set your investments at risk.

IC Markets and PaxForex are both brokers which have forged their way successfully into the broker world. Within this review, we've tried to collate a number of the important aspects of both IC Markets and PaxForex. This review can help you to understand whether either PaxForex or IC Markets is a fantastic match for your investments or not. We've tried to breakdown all the qualities and charges for your advantage.

Benefits of IC Markets and PaxForex Compared

IC Markets offers a minimum deposit of $200 while PaxForex has a $10 minimum deposit.

Why smaller minimum deposits are good and how IC Markets and PaxForex 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 PaxForex allows you to trade around 232 financial instruments on their platform.

The more instruments you can trade on the IC Markets and PaxForex 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 PaxForex.

IC Markets and PaxForex Contact Details

Being able to contact a broker through many ways is vital. IC Markets and PaxForex have the following contact details and social medias that you can use.

PaxForex 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 PaxForex we'll check whether either of their mobile apps tick all the boxes.

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

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 PaxForex - Awards

IC Markets vs PaxForex - Frequently Asked Questions

IC Markets vs PaxForex - Headquarters And Year Of Founding

IC Markets was founded in 2007 and has its headquaters in Australia.

PaxForex was founded in 2011 and has its head office in Saint Vincent and the Grenadines.

What is the minimum deposit for PaxForex or IC Markets

The minimum deposit for IC Markets is $200.

The minimum deposit for PaxForex is $10.

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 PaxForex are a good choice.

IC Markets vs PaxForex - 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).

PaxForex is regulated by Financial Services Authority (FSA), Registration Number 21973 IBC 2014 1825.

Both IC Markets and PaxForex have a strong collection of rules for ensuring honest trading on their platforms. For data encryption functions, they provide industry-standard secure socket layers (SSL).

In accordance with their privacy policies, customer data is never to be shared with any other institutions or individuals. This includes credit history and other financial information.

Compare IC Markets vs PaxForex Commission And Fees

IC Markets and PaxForex are online broker platforms, and most online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the companies of online trading platforms are scaled much better. In other words, an internet broker isn't necessarily affected by the amount of customers they have.

However, this does not necessarily mean that online brokers don't charge any fees. They charge prices of varying rates for a variety of services to earn money. There are primarily three different types of fees for this purpose.

The first kind of fees to keep an eye out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you are billed trading charges. In such cases, you're spending a spread, funding rate, or a commission. The kinds of trading fees and the rates vary from broker to broker.

Commissions can be fixed or determined by the traded volume. On the flip side, a spread refers to the gap between the buying and selling cost. Financing or overnight rates are those that are charged when you maintain a leveraged position for longer than a day.

Apart from trading charges, online brokers also bill non-trading fees. These are determined by the actions you undertake in your account. They are charged for surgeries like depositing cash, not trading for lengthy periods, or withdrawals.

Generally, neither IC Markets or PaxForex charge high fees compared to other online agents. For operations other agents charge for, they either do not charge a broker fee, or they charge a smaller amount. This is beneficial for those who often exchange, for example weekly or daily trading.

However, non-trading fees charged by IC Markets and PaxForex are comparatively lower. As a result, you're billed more for non-trading activities on your trading account, like withdrawal and deposits. These are not related to the sale and purchase of resources.

This IC Markets vs PaxForex review for 2023 breaks down every one of the relevant non-trading charges for you in detail.

Compare Broker Fees For IC Markets And PaxForex

What Languages Do IC Markets And PaxForex Support?

Being able to talk completely with your trading broker is a key element when comparing trading platforms to find your perfect trading partner. Not only for support but to be sure you understand everything on their website and inside their app as it is a key factor to success when trading forex.

Below you can find the languages that both IC Markets and PaxForex support.

How Many Clients Do IC Markets and PaxForex Have?

Both IC Markets and PaxForex are well known and trusted. It is really important to work with a broker that is professional and one of the easiest ways of understanding this is by knowing how many clients are using their services.

Below you will find details of how many customers IC Markets and PaxForex are active on their platform

What Payment Methods Do IC Markets and PaxForex Accept?

IC Markets and PaxForex 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 PaxForex

What Can You Trade With IC Markets and PaxForex?

IC Markets offers 232 trading instruments while PaxForex offers 188.

Below you will find a full breakdown of what both IC Markets and PaxForex offer.