IC Markets vs sofi, Who's Better?
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IC Markets Rating
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sofi Rating
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IC Markets vs sofi Guide |
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Read our In-Depth IC Markets vs sofi Review - Updated for 2023
This IC Markets vs sofi review has been updated for 2023 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 sofi review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
sofi Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs sofi
Every online trading platform will have a few ups and downs, and no IC Markets and sofi review would be complete without having a balanced approach. Compare IC Markets and sofi to understand how they stack up against each other before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
So you are looking for an online trading platform and are choosing between IC Markets or sofi. Which one is best in 2023?
This IC Markets vs sofi comparison contains the latest information so you can easily compare sofi against IC Markets.
If you're a new entrant in the realm of trading and brokerages, so many facts will be confusing for you. Getting into the world of trading requires expert analyzing skills and comprehensive understanding. You'll acquire adept at all the concepts of broker as you keep trading. For starters, you have to choose the right broker who will be clear with you always.
Within this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment plan has the potential to generate hefty returns. IC Markets and sofi are two such trading platforms which will take you along with your investment to great heights. It's important to compare IC Markets vs sofi before you trust them with your cash.
Our IC Markets vs sofi comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and sofi side by side.
Our entire IC Markets vs sofi Review covers everything you need to know about trading with either IC Markets or sofi. A good agent can multiply your initial investments and give you favorable profits. If you would like to make profits, you must trade with a brokerage service that contrasts with your investment goals.
There's absolutely no sure-fire method to guarantee profits; thus, you must carefully analyze your agent before you choose them. It is a common misconception that all brokers are exactly the same, but that is not true. Wrong judgment, in the beginning, can set your investments in danger.
IC Markets and sofi are both brokers that have forged their way successfully to the broker world. Within this review, we've attempted to collate a number of the vital aspects of both IC Markets and sofi. This review will allow you to know whether either sofi or IC Markets is a fantastic fit for your investments or not. We've attempted to breakdown all the features and charges for your advantage.
Benefits of IC Markets and sofi Compared
IC Markets offers a minimum deposit of $200 while sofi has a $250 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and sofi 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 sofi allows you to trade around 232 financial instruments on their platform.
The more instruments you can trade on the IC Markets and sofi 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 sofi.
IC Markets and sofi Contact Details
Being able to contact a broker simply is a sign of a professional broker. IC Markets and sofi have the following contact details and social medias that you can use.
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| Broker | IC Markets | sofi |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | ||
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
| IC Markets Twitter Account | sofi Twitter Account | |
| IC Markets Facebook Page | sofi Facebook Page | |
| IC Markets Instagram Account | sofi Instagram Account | |
| IC Markets LinkedIn Page | sofi LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | sofi YouTube Channel |
| Find Out More |
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sofi 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 sofi we'll check whether either of their mobile apps tick all the boxes.
We rate overall 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 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 sofi - Awards
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| Broker | IC Markets | sofi |
| Awards |
IC Markets have won many industry awards over the time they have been running as an online broker. We detail the most recognised awards for IC Markets below.
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At the time of writing this sofi review, and despite sofi’s impressive offering, the company has surprisingly not garnered any awards to date. |
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IC Markets vs sofi - Frequently Asked Questions
IC Markets vs sofi - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its headquaters in Australia.
sofi was founded in 2015 and has its head office in Lebanon.
What is the minimum deposit for sofi or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for sofi is $250.
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 sofi are a good choice.
IC Markets vs sofi - 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).
sofi is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F306.
Both IC Markets and sofi have a powerful set of rules for ensuring honest trading onto their individual platforms. For information encryption functions, they supply industry-standard secure socket layers (SSL).
As per their privacy policies, customer information is never to be shared with any other institutions or individuals. Including credit history and other financial information.
Compare IC Markets vs sofi Commission And Fees
IC Markets and sofi 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. In other words, an online broker is not necessarily affected by the amount 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 earn money. There are mainly 3 types of penalties for this objective.
The first sort of charges to keep an eye out for are trading charges. When you make a genuine trade, like purchasing a stock or an ETF, you are billed trading charges. In these instances, you are spending a spread, financing rate, or 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 denotes the difference between the buying and selling price. Funding or overnight prices are people that are billed when you maintain a leveraged position for longer than daily.
Apart from trading fees, online brokers also charge 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.
Generally, neither IC Markets or sofi charge high fees compared to other online brokers. For operations other brokers fee for, they either do not charge a broker fee, or they charge a lesser sum. This is beneficial for those who often exchange, such as weekly or daily trading.
However, non-trading fees billed by IC Markets and sofi are comparatively competitive. As a result, you are charged more for non-trading actions in your trading account, such as deposits and withdrawal. These are not about the purchase and sale of assets.
This IC Markets vs sofi review for 2023 breaks down every one of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And sofi
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| Broker | IC Markets | sofi |
| Minimum Deposit | $200 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | Yes | Yes |
| Find Out More |
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What Languages Do IC Markets And sofi Support?
Being able to talk completely with your trading platform is a key part of 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 application as it is a key factor to success when trading online.
Here you can find all the languages that both IC Markets and sofi support.
How Many Clients Do IC Markets and sofi Have?
Both IC Markets and sofi are well established with their client base. It is important to work with a broker that is professional and one of the most simple ways of understanding this is by knowing how many customers they already work with.
Below you will find details of how many clients IC Markets and sofi are active on their platform
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| Broker | IC Markets | sofi |
| Clients / Users | 60,000+ | 10,000+ |
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What Payment Methods Do IC Markets and sofi Accept?
IC Markets and sofi 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 sofi
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| Broker | IC Markets | sofi |
| Bank Transfers | Yes | Yes |
| Credit Cards | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Payoneer | No | Yes |
| Neteller | Yes | Yes |
| Find Out More |
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What Can You Trade With IC Markets and sofi?
IC Markets offers 232 trading instruments whilst sofi offers 189.
Below you will find a full breakdown of what both IC Markets and sofi offer.
Compare IC Markets To All Other Brokers
Compare sofi To All Other Brokers