IC Markets vs WellsTrade, Updated for 2022
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IC Markets Rating: 8.34 / 10 |
WellsTrade Rating: 1.73 / 10 |
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Losses can exceed deposits |
Your capital is at risk |
IC Markets vs WellsTrade Guide |
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Read our In-Depth IC Markets vs WellsTrade Review - Updated for 2022
This IC Markets vs WellsTrade review has been updated for 2022 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 WellsTrade review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
WellsTrade Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
So you are looking for a professional broker and are choosing between IC Markets or WellsTrade. Who is better in 2022?
Our IC Markets vs WellsTrade review contains the latest information so you can easily compare WellsTrade against IC Markets.
If you are a new entrant in the realm of trading and brokerages, so many facts will be perplexing for you. Getting into the world of trading requires expert assessing skills and comprehensive knowledge. You'll acquire proficient at all the concepts of brokerage as you continue trading. For starters, you have to select the right broker who'll be transparent with you always.
In this fast-paced universe of stock markets and trading, you'll need guidance to make proper decisions. A professionally lead investment program has the potential to create hefty returns. IC Markets and WellsTrade are just two such stages which will take you and your investment into great heights. It's important that you compare IC Markets vs WellsTrade until you trust them with your cash.
Our IC Markets vs WellsTrade comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and WellsTrade side by side.
Our full IC Markets vs WellsTrade Review covers everything you need to learn about trading with either IC Markets or WellsTrade. A good agent can multiply your first investments and give you positive profits. If you want to earn profits, you should trade with a broker service that aligns with your investment objectives.
There is no sure-fire method to ensure profits; thus, you should carefully analyze your broker before you select them. It's a common misconception that all agents are the same, but that is not true. Wrong judgment, initially, can put your investments in danger.
IC Markets and WellsTrade are both brokers that have found their way successfully to the broker world. Within this review, we've attempted to collate some of the vital facets of both IC Markets and WellsTrade. This review can help you to understand whether either WellsTrade or IC Markets is a good fit for your own investments or not. We've attempted to breakdown all the qualities and fees for your advantage.
Compare IC Markets vs WellsTrade
Every online trading platform has some pros and cons, and no IC Markets and WellsTrade review would be complete without having a balanced approach. Compare IC Markets and WellsTrade 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.
Benefits of IC Markets and WellsTrade Compared
IC Markets has a minimum deposit of $200 while WellsTrade offers a $30 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and WellsTrade 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 WellsTrade allows you to trade around 232 on their platform.
The more financial instruments you can trade on the IC Markets and WellsTrade 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 should never want to miss out on a trading opportunity due to the limitations of IC Markets or WellsTrade.
IC Markets and WellsTrade Contact Details
Being able to contact a broker easily is vital. IC Markets and WellsTrade have the following contact details and social medias that you can use.
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| Broker | IC Markets | WellsTrade |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | ||
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
| IC Markets Twitter Account | WellsTrade Twitter Account | |
| IC Markets Facebook Page | WellsTrade Facebook Page | |
| IC Markets Instagram Account | WellsTrade Instagram Account | |
| IC Markets LinkedIn Page | WellsTrade LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | WellsTrade YouTube Channel |
| Find Out More |
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WellsTrade 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 WellsTrade will examine whether their mobile app meets all our requirements.
Overall, we rate 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. 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 WellsTrade - Awards
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| Broker | IC Markets | WellsTrade |
| Awards |
IC Markets have won a lot of industry awards over the years they have been operating as an online trading platform. We list the most notable awards for IC Markets here.
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At the time of writing this WellsTrade review, and despite WellsTrade’s impressive offering, the company has surprisingly not garnered any awards to date. |
| Find Out More |
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IC Markets vs WellsTrade - Frequently Asked Questions
IC Markets vs WellsTrade - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
WellsTrade was founded in 2008 and has its head office in United States.
What is the minimum deposit for WellsTrade or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for WellsTrade is $30.
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 WellsTrade are a good option.
IC Markets vs WellsTrade - 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).
WellsTrade is regulated by Unregulated.
WellsTrade is unregulated but IC Markets has a powerful set of rules for ensuring honest trading on its platforms. For information encryption functions, they provide industry-standard secure socket layer (SSL).
As per their individual privacy regulation, customer data is never to be shared with any other institutions or individuals. Including credit history and other financial details.
Compare IC Markets vs WellsTrade Commission And Fees
IC Markets and WellsTrade are online brokerage platforms, and most online brokerages charge lower fees than traditional brokerages tend to charge. The cause of this is that the businesses of online trading platforms are scaled much better. That is, an internet broker isn't necessarily affected by the amount of clients they have.
However, this does not mean that online brokers don't charge any fees. They charge fees of varying rates for various services to make money. There are mainly three different types of penalties for this objective.
The first kind of fees to look out for are trading fees. When you make a genuine trade, like purchasing a stock or an ETF, you are charged trading fees. In these cases, you're paying a spread, funding rate, or a commission. The kinds of trading charges and the prices vary from broker to broker.
Commissions could be fixed or determined by the traded quantity. On the other hand, a spread denotes the gap between the buying and selling price. Funding or overnight prices are those that are billed when you maintain a leveraged position for longer than daily.
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 surgeries like depositing cash, not investing for lengthy periods, or withdrawals.
In general, neither IC Markets or WellsTrade charge high fees in comparison to other online agents. For operations other brokers fee for, they do not charge a brokerage fee, or they charge a smaller amount. This is beneficial for those who regularly trade, for example weekly or daily trading.
But, non-trading fees charged by IC Markets and WellsTrade are comparatively greater. As a result, you are charged more for non-trading activities on your trading account, such as withdrawal and deposits. These aren't about the purchase and sale of resources.
This IC Markets vs WellsTrade review for 2022 breaks down each of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And WellsTrade
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| Broker | IC Markets | WellsTrade |
| Minimum Deposit | $200 | $30 |
| 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 WellsTrade Support?
Being able to communicate easily with your trading broker is a key way of comparing brokers to find your perfect broker. Not only for support but to be sure you understand everything on their site and inside their app as it is a key part of success when trading online.
Here you can find all the languages that both IC Markets and WellsTrade support.
How Many Clients Do IC Markets and WellsTrade Have?
Both IC Markets and WellsTrade are well established with their client base. It is really important to work with a 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 clients IC Markets and WellsTrade have
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| Broker | IC Markets | WellsTrade |
| Clients / Users | 60,000+ | 10,000+ |
| Find Out More |
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What Payment Methods Do IC Markets and WellsTrade Accept?
IC Markets and WellsTrade 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 WellsTrade
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| Broker | IC Markets | WellsTrade |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Payoneer | No | Yes |
| Neteller | Yes | No |
| Find Out More |
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What Can You Trade With IC Markets and WellsTrade?
IC Markets offers 232 trading instruments whilst WellsTrade offers 254.
Below you will find a full breakdown of what both IC Markets and WellsTrade offer.
Compare IC Markets To All Other Brokers
Compare WellsTrade To All Other Brokers
