IC Markets vs USAA, 2024 Update
IC Markets Rating
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USAA Rating
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Losses can exceed deposits |
Your capital is at risk |
IC Markets vs USAA Guide |
Read our In-Depth IC Markets vs USAA Review - 2024 Update
Our comprehensive analysis of IC Markets and USAA has been revised for 2024 from seasoned professionals boasting years of financial experience in Forex, Social Trading, & CFDs.
Please note that due to regulations for each broker, the content in this comparison of IC Markets vs USAA does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
USAA Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs USAA
Each trading platforms feature some pros and cons, so any comprehensive IC Markets and USAA review would not be regarded as thorough without having a balanced approach.
Assess IC Markets and USAA in order to understand the way these platforms compare against one another before you decide to make an account. A comprehensive comparison helps to bring aspects into perspective to ensure that you are informed about what you should anticipate.
So you are looking for an online trading platform and are choosing between IC Markets or USAA. Who is better in 2024?
Our IC Markets vs USAA comparison contains the most recent information so you can easily compare USAA against IC Markets.
If you're a new entrant in the realm of trading and brokers, so many nuances will be confusing for you. Getting into the world of trading requires expert analyzing skills and comprehensive understanding. You'll get adept at all the concepts of brokerage since you continue trading. For starters, you have to select the ideal broker who will be transparent with you always.
In this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally direct investment plan has the potential to create hefty returns. IC Markets and USAA are just two such companies that will take you along with your investment to great heights. It's important that you compare IC Markets vs USAA before you trust them with your cash.
Our IC Markets vs USAA comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and USAA side by side.
Our full IC Markets vs USAA Review covers all you will need to know about trading using either IC Markets or USAA. A good broker can multiply your first investments and provide you positive profits. If you want to earn profits, you should trade with a broker service that aligns with your investment goals.
There's absolutely no sure-fire way to ensure profits; thus, you must carefully assess your agent before you select them. It's a common misconception that all brokers will be the same, but that's not correct. Wrong judgment, initially, can set your investments at risk.
IC Markets and USAA are both brokers that have found their way successfully into the broker world. Within this review, we've attempted to collate some of the important aspects of both IC Markets and USAA. This review will help you to understand whether either USAA or IC Markets is a good match for your investments or not. We have attempted to breakdown all of the qualities and charges for your advantage.
Benefits of IC Markets and USAA Compared
IC Markets offers a minimum deposit of $200 while USAA offers a $25 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and USAA 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 USAA allows you to trade around 232 available.
The more instruments you can trade on the IC Markets and USAA 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 USAA.
IC Markets and USAA Contact Details
Being able to contact an online trading platform through many ways is important. IC Markets and USAA have the following contact details and social medias that you can use.
Broker | IC Markets | USAA |
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Telephone Number | +248 467 19 76 | |
support@icmarkets.com | ||
Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
IC Markets Twitter Account | USAA Twitter Account | |
IC Markets Facebook Page | USAA Facebook Page | |
IC Markets Instagram Account | USAA Instagram Account | |
IC Markets LinkedIn Page | USAA LinkedIn Page | |
YouTube | IC Markets YouTube Channel | USAA YouTube Channel |
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USAA 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.
In this part of our comparison of IC Markets and USAA we'll check whether either of their mobile apps tick all the boxes.
We rate overall the user-friendliness of both 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. For example, if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start 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 USAA - Awards
Broker | IC Markets | USAA |
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Awards |
IC Markets have won a lot of industry awards over the time they have been operating as an online broker. We list the most recognised awards for IC Markets here.
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At the time of writing this USAA review, and despite USAA’s impressive offering, the company has surprisingly not garnered any awards to date. |
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IC Markets vs USAA - Frequently Asked Questions
IC Markets vs USAA - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its headquaters in Australia.
USAA was founded in 2008 and has its headquaters in United States.
What is the minimum deposit for USAA or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for USAA is $25.
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 USAA are a good choice.
IC Markets vs USAA - 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).
USAA is regulated by Financial Conduct Authority (FCA), The Prudential Regulation Authority (PRA).
Both IC Markets and USAA have a strong set of rules for ensuring fair trading onto their own platforms. For information encryption purposes, they supply industry-standard secure socket layers (SSL).
In accordance with their individual privacy regulations, client data is never to be shared with any other institutions or individuals. This includes credit history and other financial details.
Compare IC Markets vs USAA Commission And Fees
IC Markets and USAA are online brokerage platforms, and many online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the businesses of online brokerages are scaled better. In other words, an internet broker isn't necessarily influenced by the amount of customers they have.
However, this does not 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 mainly three types of penalties for this objective.
The first sort of fees to keep an eye out for are trading charges. When you make a genuine trade, like buying a stock or an ETF, you are charged trading fees. In these cases, you're paying a spread, funding rate, or a commission. The sorts of trading charges and the rates differ from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the other hand, a spread refers to the gap between the buying and selling cost. Financing or overnight prices are people who are charged when you maintain a leveraged position for more than a day.
Apart from trading charges, online brokers also bill non-trading fees. These are dependent on the activities you undertake in your accounts. They are charged for operations like depositing money, not investing for lengthy periods, or withdrawals.
Generally, neither IC Markets or USAA charge high fees in comparison to other online brokers. For operations other agents charge for, they do not charge a brokerage fee, or they charge a lesser amount. This is beneficial for people who often trade, for example weekly or daily trading.
However, non-trading fees charged by IC Markets and USAA are comparatively higher. Consequently, you are charged more for non-trading actions in your trading accounts, such as withdrawal and deposits. These aren't about the sale and purchase of assets.
This IC Markets vs USAA review for 2024 breaks down every one of the applicable non-trading charges for you in detail.
Compare Broker Fees For IC Markets And USAA
Broker | IC Markets | USAA |
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Minimum Deposit | $200 | $25 |
Withdrawal Fees | No | Yes |
Inactivity Fees | No | No |
Deposit Fees | Yes | Yes |
CFD Fees | Yes | No |
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What Languages Do IC Markets And USAA Support?
Being able to talk easily with your online broker is a key element when comparing brokers to find the best broker. 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 forex.
Below you will find all the languages that both IC Markets and USAA offer communication in.
How Many Clients Do IC Markets and USAA Have?
Both IC Markets and USAA are well established with their client base. It is really important to work with an online broker you can trust and one of the most simple ways of establishing this is by knowing how many customers they already work with.
Below you will find details of how many clients IC Markets and USAA are active on their platform
Broker | IC Markets | USAA |
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Clients / Users | 60,000+ | 10,000+ |
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What Payment Methods Do IC Markets and USAA Accept?
IC Markets and USAA 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 USAA
Broker | IC Markets | USAA |
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Bank Transfers | Yes | Yes |
Credit Cards | Yes | Yes |
PayPal | Yes | No |
Skrill | Yes | No |
Payoneer | No | Yes |
Neteller | Yes | No |
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What Can You Trade With IC Markets and USAA?
IC Markets offers 232 trading instruments whilst USAA offers 242.
Below you will find a full breakdown of what both IC Markets and USAA offer.
IC Markets Review
IC Markets vs USAA:
Table Of Contents
- Compare IC Markets vs USAA
- Benefits of IC Markets and USAA Compared
- USAA and IC Markets Mobile App Comparison
- IC Markets vs USAA - Awards
- IC Markets vs USAA - Frequently Asked Questions
- What is the minimum deposit for USAA or IC Markets
- IC Markets vs USAA - Regulation And Licencing In More Detail
- Compare Broker Fees For IC Markets And USAA
- What Languages Do IC Markets And USAA Support?
- How Many Clients Do IC Markets and USAA Have?
- What Payment Methods Do IC Markets and USAA Accept?
- What Can You Trade With IC Markets and USAA?