IC Markets vs Westpac, 2024 Update
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 2024
This comprehensive analysis of IC Markets and Westpac has been revised to reflect any changes for 2024 from knowledgeable insiders with years of expertise in CFDs, Social Trading, & Forex.
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
All platforms for online trading feature a few pros and cons, and a complete review of IC Markets and Westpac would not be regarded as thorough without embracing a balanced approach.
Assess IC Markets and Westpac to understand how these platforms stack up with one another prior to you decide to create an account. Conducting a comprehensive comparison will place factors into perspective in order that you're aware of the expectations.
So you are looking for a broker and are choosing between IC Markets or Westpac. Which one is best in 2024?
This IC Markets vs Westpac comparison contains the most recent information so you can easily compare Westpac against IC Markets.
If you are a new entrant in the world of trading and brokerages, so many facts will be confusing for you. Getting into the world of trading requires expert analyzing skills and comprehensive knowledge. You will get adept at all of the concepts of brokerage since you continue trading. For starters, you have to choose the right broker who will be transparent with you always.
Within this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment program has the potential to create hefty returns. IC Markets and Westpac are just two such companies that will take you and your investment into great heights. It's crucial that you compare IC Markets vs Westpac before 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 everything you need to learn about trading with either IC Markets or Westpac. A fantastic agent can multiply your initial investments and provide you positive profits. If you would like to earn profits, you must trade with a brokerage service that contrasts with your investing goals.
There's absolutely no sure-fire way to ensure profits; therefore, you should carefully assess your broker before you choose them. It is a common misconception that all brokers will be the same, but that's not true. Wrong judgment, initially, can put your investments at risk.
IC Markets and Westpac are both brokers that have found their way successfully to the broker world. In this review, we have tried to collate a number of the vital aspects of both IC Markets and Westpac. This review will allow you to know whether either Westpac or IC Markets is a fantastic match for your own investments or not. We have attempted to breakdown all of the qualities and fees for your convenience.
Benefits of IC Markets and Westpac Compared
IC Markets has 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 while Westpac has around 232 available.
The more instruments you can trade on the IC Markets and Westpac 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 your broker easily is a sign of a professional broker. IC Markets and Westpac have the following contact details and social medias that you can use.
|+248 467 19 76
|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
|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.
This part of comparing IC Markets and Westpac will examine whether their mobile app meets all our requirements.
Overall, we rate the user-friendliness of both apps as better than average.
It is important that any trading app has user friendly capabilities especially with the
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 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 Westpac - Awards
IC Markets have won numerous industry awards over the time they have been running as an online trading platform. 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 headquaters 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 needs, 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 powerful collection of rules for ensuring honest trading onto their individual platforms. For data encryption purposes, they supply industry-standard secure socket layers (SSL).
As per their own privacy regulations, customer information is to not 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 brokerage platforms, and many online brokerages charge lower fees than traditional brokerages tend to bill. The reason for this is that the companies of online brokerages are scaled better. That is, an internet broker isn't necessarily influenced by the amount of clients they have.
But this does not mean that online brokers don't charge any fees. They charge fees of varying rates for various services to earn money. There are primarily three different types of penalties for this objective.
The first sort of fees to look out for are trading fees. When you make a genuine trade, like buying a stock or an ETF, you are billed trading fees. In such instances, you're paying a spread, financing rate, or even a commission. The sorts of trading fees and the rates differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread refers to the difference between the buying and selling price. Funding or overnight prices are people that are billed when you hold a leveraged position for longer than a day.
Aside from trading charges, online agents also bill non-trading fees. These are dependent on the activities you undertake on your account. They are charged for operations like depositing cash, not investing for lengthy periods, or withdrawals.
In general, neither IC Markets or Westpac 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 smaller amount. This can be beneficial for people who often trade, such as daily or weekly trading.
However, non-trading fees billed by IC Markets and Westpac are relatively greater. As a result, you're billed more for non-trading actions in your trading account, like withdrawal and deposits. These aren't related to the purchase and sale of assets.
This IC Markets vs Westpac review for 2024 breaks down each of the relevant non-trading charges 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 easily with your trading broker is a key way of comparing online brokers to find the best broker. Not only for support but to ensure you completely understand everything on their website 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.
|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 established with their customer base. It is important to work with a broker you can trust and one of the most simple ways of establishing this is by knowing how many clients are using their services.
Below you will find details of how many users IC Markets and Westpac are active on their platform
|Clients / Users
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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?