IC Markets vs Westpac, Who's Better?
IC Markets Rating
Losses can exceed deposits
Your capital is at risk
IC Markets vs Westpac Guide
Read our In-Depth IC Markets vs Westpac Review - Updated for 2023
Our comprehensive analysis of IC Markets and Westpac has been refreshed for 2023 from seasoned professionals with years of expertise in Forex, Social Trading, & CFDs.
Please note that due to regulations for each broker, the content in this comparison of IC Markets vs Westpac does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
Westpac Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs Westpac
Every online trading platforms has a few ups and downs, so any comprehensive review of IC Markets and Westpac should not be regarded as thorough without having a balanced approach.
Compare IC Markets and Westpac to understand just how these platforms line up to one another prior to you create an account. Performing a comparative analysis will bring aspects in perspective in order that you are informed about the expectations.
So you are looking for a reputable broker and are choosing between IC Markets or Westpac. Who is better in 2023?
This IC Markets vs Westpac comparison contains the most recent information so you can easily compare Westpac against IC Markets.
If you're a new entrant in the world of trading and brokers, so many details will be confusing for you. Getting into the area of trading requires expert assessing skills and comprehensive understanding. You'll acquire proficient at all the concepts of broker since you keep trading. For starters, you have to select the right broker who'll be transparent with you constantly.
Within this fast-paced universe of stock markets and trading, you will need guidance to make proper decisions. A professionally lead investment plan has the potential to generate hefty returns. IC Markets and Westpac are just two such companies that will take you along with your investment into great heights. It's crucial that you compare IC Markets vs Westpac until you trust them with your cash.
Our IC Markets vs Westpac comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and Westpac side by side.
Our entire IC Markets vs Westpac Review covers all you need to know about trading using either IC Markets or Westpac. A good agent can multiply your initial investments and provide you favorable profits. If you would like to make profits, you must trade with a broker service that contrasts with your investing objectives.
There's absolutely no sure-fire way to guarantee profits; thus, you must carefully analyze your broker before you select them. It's a common misconception that all brokers are the same, but that is not true. Wrong judgment, in the beginning, can put your investments in danger.
IC Markets and Westpac are both brokers which have found their way successfully to the brokerage world. Within this review, we've tried to collate some of the important aspects of both IC Markets and Westpac. This review will allow you to understand whether either Westpac or IC Markets is a good fit for your own investments or not. We have attempted to breakdown all the features and fees for your advantage.
Benefits of IC Markets and Westpac Compared
IC Markets offers a minimum deposit of $200 while Westpac offers a $50 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and Westpac 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 Westpac has around 232 available.
The more financial instruments you can trade on the IC Markets and Westpac 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 Westpac.
IC Markets and Westpac Contact Details
Being able to contact an online trading platform simply is a sign of a professional broker. IC Markets and Westpac have the following contact details and social medias that you can use.
|Telephone Number||+248 467 19 76|
|Address||Level 4, 50 Carrington Street, Sydney NSW 2000|
|IC Markets Twitter Account||Westpac Twitter Account|
|IC Markets Facebook Page||Westpac Facebook Page|
|IC Markets Instagram Account||Westpac Instagram Account|
|IC Markets LinkedIn Page||Westpac LinkedIn Page|
|YouTube||IC Markets YouTube Channel||Westpac YouTube Channel|
|Find Out More||
Westpac 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 Westpac we'll check whether either of their mobile apps tick all the boxes.
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.
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 Westpac - Awards
IC Markets have won many industry awards over the time they have been running as a financial broker. We show the most recognised awards for IC Markets below.
|At the time of writing this Westpac review, and despite Westpac’s impressive offering, the company has surprisingly not garnered any awards to date.|
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IC Markets vs Westpac - Frequently Asked Questions
IC Markets vs Westpac - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its head office in Australia.
Westpac was founded in 2008 and has its head office in Austrailia.
What is the minimum deposit for Westpac or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for Westpac is $50.
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 Westpac are a good choice.
IC Markets vs Westpac - 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).
Westpac is regulated by Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA).
Both IC Markets and Westpac have a strong collection of rules for ensuring honest trading onto their individual platforms. For information encryption functions, they provide industry-standard secure socket layers (SSL).
In accordance with their own privacy regulations, client information is never to be shared with any other institutions or individuals. This includes credit history and other financial information.
Compare IC Markets vs Westpac Commission And Fees
IC Markets and Westpac are online broker platforms, and most online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the businesses of online trading platforms are scaled much better. That is, an internet broker is not necessarily influenced by the number of customers they have.
But this doesn't necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for a variety of services to make money. There are primarily three different types of penalties for this purpose.
The first kind of fees to look out for are trading fees. Whenever you make an actual trade, like buying a stock or an ETF, you are billed trading fees. In such instances, you are spending a spread, funding speed, or a commission. The kinds of trading charges and the rates differ from broker to broker.
Commissions could be fixed or determined by the traded quantity. On the flip side, a spread denotes the difference between the buying and selling cost. Funding or overnight rates are people who are billed when you hold a leveraged position for longer than daily.
Apart from trading charges, online agents also charge non-trading fees. These are determined by the actions you undertake in your accounts. They're billed for operations like depositing cash, not investing for lengthy periods, or withdrawals.
Generally, neither IC Markets or Westpac charge high fees in comparison to other online agents. For operations other agents charge for, they either do not charge a brokerage fee, or they charge a smaller amount. This can be beneficial for those who regularly exchange, such as weekly or daily trading.
But, non-trading fees billed by IC Markets and Westpac are relatively competitive. As a result, you're billed more for non-trading actions in your trading account, such as deposits and withdrawal. These aren't about the sale and purchase of assets.
This IC Markets vs Westpac review for 2023 breaks down each of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And Westpac
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What Languages Do IC Markets And Westpac Support?
Being able to communicate completely with your online platform is a key element when comparing online brokers to find your perfect trading partner. Not only for support but to be sure you completely understand everything on their site and inside their app as it is a key part of success when trading online.
Here you will find all the languages that both IC Markets and Westpac support.
|Languages Supported||English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more||English, and Chinese|
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How Many Clients Do IC Markets and Westpac Have?
Both IC Markets and Westpac are well known and trusted. It is really important to work with an online broker that is reputable and one of the easiest ways of establishing this is by knowing how many clients they already work with.
Below you will find details of how many customers IC Markets and Westpac are active on their platform
|Clients / Users||60,000+||10,000+|
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What Payment Methods Do IC Markets and Westpac Accept?
IC Markets and Westpac 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 Westpac
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What Can You Trade With IC Markets and Westpac?
IC Markets offers 232 trading instruments while Westpac offers 255.
Below you will find a full breakdown of what both IC Markets and Westpac offer.
IC Markets Review
IC Markets vs Westpac:
Table Of Contents
- Compare IC Markets vs Westpac
- Benefits of IC Markets and Westpac Compared
- Westpac and IC Markets Mobile App Comparison
- IC Markets vs Westpac - Awards
- IC Markets vs Westpac - Frequently Asked Questions
- What is the minimum deposit for Westpac or IC Markets
- IC Markets vs Westpac - Regulation And Licencing In More Detail
- Compare Broker Fees For IC Markets And Westpac
- What Languages Do IC Markets And Westpac Support?
- How Many Clients Do IC Markets and Westpac Have?
- What Payment Methods Do IC Markets and Westpac Accept?
- What Can You Trade With IC Markets and Westpac?