IC Markets vs umarkets, 2023 Update
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IC Markets Rating
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umarkets Rating
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Losses can exceed deposits |
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IC Markets vs umarkets Guide |
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Read our In-Depth IC Markets vs umarkets Review - for 2023
This IC Markets vs umarkets 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 umarkets review does not apply to all countries as follows:
IC Markets Excluded Countries
United States of America, Canada, Israel, New Zealand, Japan, and Iran.
umarkets Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare IC Markets vs umarkets
Every online trading system has a few pros and cons, and no IC Markets and umarkets review would be complete without showing both sides. Compare IC Markets and umarkets 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.
So you are looking for a broker and are choosing between IC Markets or umarkets. Which one is best in 2023?
This IC Markets vs umarkets comparison contains the most recent information so you can easily compare umarkets against IC Markets.
If you're a new entrant in the world of trading and brokerages, so many facts will be confusing for you. Getting into the world of trading demands expert assessing skills and comprehensive understanding. You will acquire proficient at all the concepts of broker since you continue trading. For starters, you have to select the right agent who'll be clear with you constantly.
In this fast-paced universe of stock markets and trading, you'll need advice to make proper decisions. A professionally lead investment plan has the potential to create hefty returns. IC Markets and umarkets are two such trading platforms which will take you along with your investment to great heights. It's important that you compare IC Markets vs umarkets before you trust them with your cash.
Our IC Markets vs umarkets comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust IC Markets and umarkets side by side.
Our entire IC Markets vs umarkets Review covers everything you will need to know about trading using either IC Markets or umarkets. A good broker can multiply your initial investments and provide you positive profits. If you want to make profits, you should trade with a brokerage service that aligns with your investing objectives.
There's absolutely no sure-fire method to guarantee profits; therefore, you should carefully analyze your agent before you select them. It is a frequent misconception that all agents will be exactly the same, but that's not true. Wrong judgment, in the beginning, can set your investments at risk.
IC Markets and umarkets are both brokers which have paved their way successfully to the broker world. Within this review, we have attempted to collate some of the important facets of both IC Markets and umarkets. This review will help you to know whether either umarkets or IC Markets is a good match for your own investments or not. We have attempted to breakdown all of the features and charges for your advantage.
Benefits of IC Markets and umarkets Compared
IC Markets offers a minimum deposit of $200 while umarkets offers a $250 minimum deposit.
Why smaller minimum deposits are good and how IC Markets and umarkets 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 umarkets has around 232 on their platform.
The more instruments you can trade on the IC Markets and umarkets 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 seriously do not want to miss out on a trading opportunity due to the limitations of IC Markets or umarkets.
IC Markets and umarkets Contact Details
Being able to contact an online trading platform simply is a sign of a professional broker. IC Markets and umarkets have the following contact details and social medias that you can use.
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| Broker | IC Markets | umarkets |
| Telephone Number | +248 467 19 76 | |
| support@icmarkets.com | ||
| Address | Level 4, 50 Carrington Street, Sydney NSW 2000 | |
| IC Markets Twitter Account | umarkets Twitter Account | |
| IC Markets Facebook Page | umarkets Facebook Page | |
| IC Markets Instagram Account | umarkets Instagram Account | |
| IC Markets LinkedIn Page | umarkets LinkedIn Page | |
| YouTube | IC Markets YouTube Channel | umarkets YouTube Channel |
| Find Out More |
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umarkets 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 umarkets will examine whether their mobile app meets all our requirements.
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
Although most brokers do OK in this area, there are some bad apples out there. 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 umarkets - Awards
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| Broker | IC Markets | umarkets |
| Awards |
IC Markets have won a lot of industry awards over the years they have been operating as an online broker. We detail the most recognised awards for IC Markets below.
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At the time of writing this umarkets review, and despite umarkets’s impressive offering, the company has surprisingly not garnered any awards to date. |
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IC Markets vs umarkets - Frequently Asked Questions
IC Markets vs umarkets - Headquarters And Year Of Founding
IC Markets was founded in 2007 and has its headquaters in Australia.
umarkets was founded in 2018 and has its head office in Bulgaria.
What is the minimum deposit for umarkets or IC Markets
The minimum deposit for IC Markets is $200.
The minimum deposit for umarkets 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 umarkets are a good option.
IC Markets vs umarkets - 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).
umarkets 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-F333.
Both IC Markets and umarkets have a powerful collection of rules for ensuring fair trading onto their platforms. For information encryption purposes, they provide industry-standard secure socket layers (SSL).
As per their privacy regulations, client data is never to be shared with any other institutions or individuals. This includes credit history and other financial information.
Compare IC Markets vs umarkets Commission And Fees
IC Markets and umarkets are online brokerage platforms, and many online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the businesses of online brokerages are scaled much better. In other words, an internet broker is not necessarily influenced by the number of customers they have.
However, this does not necessarily 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 types of penalties for this objective.
The first sort of charges to look out for are trading charges. When you make an actual trade, like buying a stock or an ETF, you are charged trading fees. In such cases, you are spending a spread, financing rate, or a commission. The sorts of trading charges and the prices differ from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the other hand, a spread denotes the gap between the buying and selling cost. Funding or overnight rates are people who are billed when you hold a leveraged position for more than daily.
Apart from trading fees, online agents also bill non-trading fees. These are determined by the actions you undertake in your account. They're charged for surgeries like depositing money, not investing for long periods, or withdrawals.
In general, neither IC Markets or umarkets charge high fees in comparison to other online agents. For operations other brokers fee for, they do not charge a broker fee, or they charge a smaller sum. This is beneficial for those who often trade, such as weekly or daily trading.
However, non-trading fees charged by IC Markets and umarkets are comparatively lower. Consequently, you're billed more for non-trading actions on your trading account, like deposits and withdrawal. These are not related to the purchase and sale of resources.
This IC Markets vs umarkets review for 2023 breaks down each of the applicable non-trading fees for you in detail.
Compare Broker Fees For IC Markets And umarkets
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| Broker | IC Markets | umarkets |
| Minimum Deposit | $200 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
| Find Out More |
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What Languages Do IC Markets And umarkets Support?
Being able to talk easily with your online broker is a key way of comparing trading platforms to find your perfect trading partner. Not only for support but to ensure you understand everything on their website and inside their application as it is a key part of success when trading forex.
Here you can find all the languages that both IC Markets and umarkets support.
How Many Clients Do IC Markets and umarkets Have?
Both IC Markets and umarkets 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 understanding this is by knowing how many customers are using their services.
Below you will find details of how many users IC Markets and umarkets are working with
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| Broker | IC Markets | umarkets |
| Clients / Users | 60,000+ | 10,000+ |
| Find Out More |
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What Payment Methods Do IC Markets and umarkets Accept?
IC Markets and umarkets 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 umarkets
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| Broker | IC Markets | umarkets |
| 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 umarkets?
IC Markets offers 232 trading instruments and umarkets offers 216.
Below you will find a full breakdown of what both IC Markets and umarkets offer.
Compare IC Markets To All Other Brokers
Compare umarkets To All Other Brokers