IC Markets vs Phoenix Markets, 2023 Update

Compare IC Markets vs Phoenix Markets

Every platforms for online trading feature a few ups and downs, so a complete analysis of IC Markets vs Phoenix Markets would not be regarded as thorough without embracing an objective perspective.

Assess IC Markets and Phoenix Markets to understand how they compare with each other before you decide to open an account. Conducting a side-by-side comparison can bring aspects into perspective so that you remain informed about what to expect.

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

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

If you are a new entrant in the world of trading and brokers, so many nuances will be perplexing for you. Getting into the world of trading requires expert assessing skills and comprehensive understanding. You'll acquire proficient at all the concepts of brokerage as you continue trading. For starters, you have to choose the right broker who'll be transparent with you always.

Within this fast-paced world of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment program has the potential to generate hefty returns. IC Markets and Phoenix Markets 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 Phoenix Markets until you trust them with your money.

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

Our entire IC Markets vs Phoenix Markets Review covers everything you will need to learn about trading using either IC Markets or Phoenix Markets. A good broker can multiply your initial investments and provide you positive profits. If you would like to make profits, you should trade with a broker service that aligns with your investment goals.

There's absolutely no sure-fire method to guarantee profits; thus, you should carefully assess your agent before you select them. It is a common misconception that all agents are the same, but that is not true. Wrong judgment, in the beginning, can put your investments at risk.

IC Markets and Phoenix Markets are both brokers that have forged their way successfully into the brokerage world. In this review, we've attempted to collate some of the vital facets of both IC Markets and Phoenix Markets. This review will allow you to understand whether either Phoenix Markets or IC Markets is a good fit for your own investments or not. We have attempted to breakdown all of the qualities and charges for your advantage.

Benefits of IC Markets and Phoenix Markets Compared

IC Markets offers a minimum deposit of $200 while Phoenix Markets has a $500 minimum deposit.

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

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

IC Markets and Phoenix Markets Contact Details

Being able to contact your broker easily is a sign of a professional broker. IC Markets and Phoenix Markets have the following contact details and social medias that you can use.

Phoenix Markets 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 Phoenix Markets will examine whether their mobile app meets all our requirements.

Overall, we rate 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 Phoenix Markets - Awards

IC Markets vs Phoenix Markets - Frequently Asked Questions

IC Markets vs Phoenix Markets - Headquarters And Year Of Founding

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

Phoenix Markets was founded in 2013 and has its headquaters in Cyprus.

What is the minimum deposit for Phoenix Markets or IC Markets

The minimum deposit for IC Markets is $200.

The minimum deposit for Phoenix Markets is $500.

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 Phoenix Markets are a good option.

IC Markets vs Phoenix Markets - 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).

Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC).

Both IC Markets and Phoenix Markets have a strong collection of rules for ensuring fair trading onto their platforms. For information encryption functions, they provide industry-standard secure socket layers (SSL).

In accordance with their individual privacy policies, client information is to not be shared with any other institutions or individuals. Including credit history and other financial information.

Compare IC Markets vs Phoenix Markets Commission And Fees

IC Markets and Phoenix Markets are online brokerage platforms, and many online brokerages charge lower fees than traditional brokerages tend to bill. The cause of this is that the businesses of online trading platforms are scaled better. That is, an online broker is not necessarily influenced by the number of clients they have.

However, this doesn't 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 mainly 3 different types of penalties for this purpose.

The first kind of fees to keep an eye out for are trading charges. Whenever you make an actual trade, like buying a stock or an ETF, you're charged trading fees. In such instances, you're spending a spread, funding speed, or even a commission. The kinds of trading charges and the prices differ from broker to broker.

Commissions could be fixed or dependent on the traded quantity. On the flip side, a spread denotes the difference between the buying and selling cost. Funding or overnight prices are those that are charged when you hold a leveraged position for more than daily.

Aside from trading fees, online agents also bill non-trading fees. These are determined by the activities you undertake in your accounts. They are billed for operations like depositing money, not investing for long periods, or withdrawals.

In general, neither IC Markets or Phoenix Markets charge high fees in comparison to other online brokers. For operations other brokers fee for, they either do not charge a brokerage fee, or they charge a lesser sum. This can be beneficial for those who regularly exchange, such as daily or weekly trading.

But, non-trading fees charged by IC Markets and Phoenix Markets are relatively higher. Consequently, you're charged more for non-trading actions in your trading accounts, like withdrawal and deposits. These aren't about the purchase and sale of assets.

This IC Markets vs Phoenix Markets review for 2023 breaks down each of the applicable non-trading fees for you in detail.

Compare Broker Fees For IC Markets And Phoenix Markets

What Languages Do IC Markets And Phoenix Markets Support?

Being able to chat completely with your trading platform is a key part of comparing online brokers to find the best trading partner. Not only for support but to ensure you completely understand everything on their site and inside their application as it is a key factor to success when trading online.

Here you will find the languages that both IC Markets and Phoenix Markets offer communication in.

How Many Clients Do IC Markets and Phoenix Markets Have?

Both IC Markets and Phoenix Markets 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 establishing this is by knowing how many customers are using their services.

Below you will find details of how many users IC Markets and Phoenix Markets are working with

What Payment Methods Do IC Markets and Phoenix Markets Accept?

IC Markets and Phoenix Markets 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 Phoenix Markets

What Can You Trade With IC Markets and Phoenix Markets?

IC Markets offers 232 trading instruments while Phoenix Markets offers 97.

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