Quick Facts

• Regulation: IG Group is regulated by the FCA, ASIC, and MAS, while IC Markets is regulated by the ASIC, CySEC, and the FSA.
• Minimum Deposit: IG Group requires a minimum deposit of £250, while IC Markets requires a minimum deposit of $200.
• Commission Fees: IC Markets offers commission fees from $3 per lot, while IG Group does not charge commission fees on most currency pairs.
• Spreads: IC Markets offers average spreads from 0.1 pips, while IG Group offers average spreads from 0.8 pips.
• Leverage: IC Markets offers up to 500:1 leverage, while IG Group offers up to 200:1 leverage.
• Platforms: IC Markets offers the MT4, MT5, and cTrader platforms, while IG Group offers its own web-based platform, as well as MT4.
• Deposit Methods: Both brokers offer a range of deposit methods, including credit/debit cards, PayPal, and bank transfers.
• Range of Instruments: IG Group offers over 16,000 instruments, including forex, CFDs, and spread betting, while IC Markets offers over 250 instruments, including forex, CFDs, and commodities.
• Customer Support: Both brokers offer 24-hour customer support, available via phone, email, and live chat.
• Awards: IG Group has received several awards, including the 2020 Best CFD Provider at the Shares Awards, while IC Markets has received awards such as the 2019 Best FX Broker at the UK Forex Awards.

IG Group vs IC Markets: A Comprehensive Forex Broker Comparison

In the world of online forex trading, choosing the right broker can be a daunting task, especially for new traders. With so many options available, it’s essential to compare different brokers to find the one that best suits your needs. In this article, we’ll compare two popular forex brokers, IG Group and IC Markets, to help you make an informed decision.

Broker Overview

IG Group

IG Group is a well-established online trading provider that was founded in 1974. With over 40 years of experience, IG Group has become one of the largest and most reputable brokers in the industry. They offer a wide range of trading products, including forex, CFDs, spread betting, and more.

IC Markets

IC Markets is a relatively new broker, founded in 2007. Despite its relatively short history, IC Markets has managed to establish itself as a reputable and reliable broker, known for its competitive spreads and high-quality trading conditions.

Trading Conditions

IG Group

IG Group offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, and their own proprietary platform, WebTrader. They also offer a range of mobile apps for trading on-the-go. IG Group offers competitive spreads, starting from 0.2 pips for major currency pairs, and no commission fees for most trading products.

IC Markets

IC Markets primarily uses the MetaTrader 4 and MetaTrader 5 platforms, as well as cTrader. They offer a range of mobile apps for trading on-the-go. IC Markets offers competitive spreads, starting from 0.1 pips for major currency pairs, and commission fees range from $3 to $6 per standard lot for most trading products.

Trading Instruments

IG Group

IG Group offers a wide range of trading instruments, including:

• Forex: over 95 currency pairs
• Indices: over 20 global indices
• Commodities: over 15 different commodities
• Shares: over 12,000 shares

IC Markets

IC Markets offers a range of trading instruments, including:

• Forex: over 60 currency pairs
• Indices: over 15 global indices
• Commodities: over 10 different commodities
• Cryptocurrencies: Bitcoin, Ethereum, and more

Leverage and Margin

IG Group

IG Group offers a range of leverage options, up to 200:1 for professional clients, and up to 30:1 for retail clients. Margin requirements vary depending on the product and market conditions.

IC Markets

IC Markets offers a range of leverage options, up to 500:1 for some trading instruments, and up to 30:1 for others. Margin requirements vary depending on the product and market conditions.

Fees and Charges

IG Group

IG Group charges no commission fees for most trading products, but they do charge a spread on forex and CFDs. Overnight fees apply to positions held overnight. Non-trading fees, such as inactivity fees, also apply.

IC Markets

IC Markets charges competitive spreads and commission fees ranging from $3 to $6 per standard lot for most trading products. Overnight fees apply to positions held overnight. Non-trading fees, such as inactivity fees, also apply.

Regulation and Security

IG Group

IG Group is regulated by multiple top-tier regulatory agencies, including:

• FCA (UK)
• ASIC (Australia)
• MAS (Singapore)

IG Group is also a member of the IGIG Group, which provides protection up to £100,000 for its clients.

IC Markets

IC Markets is regulated by multiple regulatory agencies, including:

• ASIC (Australia)
• CySEC (Cyprus)
• FSA (Seychelles)

IC Markets is also a member of the Investor Compensation Fund (ICF), which provides protection up to €20,000 for its clients.

Recommendation

IG Group is ideal for:

• Beginner traders who want a user-friendly platform
• Those looking for a wide range of trading instruments
• Professional traders who require robust trading conditions

IC Markets is ideal for:

• Professional traders who require high leverage options
• Those looking for competitive spreads and commission fees
• Traders who require high-quality customer support

Frequently Asked Questions:

Overview

When it comes to choosing a reliable and efficient forex broker, it can be overwhelming with the numerous options available. In this FAQ section, we will compare two prominent forex brokers: IG Group and IC Markets. We will delve into their features, benefits, and setbacks to help you make an informed decision.

Who are IG Group and IC Markets?

IG Group: A UK-based online trading provider founded in 1974, offering forex, CFDs, stocks, and cryptocurrencies trading services to over 178,000 active clients worldwide.

IC Markets: An Australian-based online trading provider founded in 2007, offering forex, CFDs, and futures trading services to over 1 million active clients worldwide.

What are the account types offered by IG Group and IC Markets?

IG Group:

• Standard Account: Suitable for beginners, with a minimum deposit of £250.
• Premium Account: Designed for experienced traders, with a minimum deposit of £25,000.

IC Markets:

• Standard Account: Suitable for beginners, with a minimum deposit of $200.
• Raw Spread Account: Designed for experienced traders, with a minimum deposit of $200.
• cTrader Account: Suitable for professional traders, with a minimum deposit of $200.

What are the available trading platforms for IG Group and IC Markets?

IG Group:

• IG Trading Platform: A proprietary platform for desktop and mobile devices.
• MetaTrader 4 (MT4): A popular third-party platform for automated trading.
• ProRealTime: A professional trading platform for experienced traders.

IC Markets:

• MetaTrader 4 (MT4): A popular third-party platform for automated trading.
• MetaTrader 5 (MT5): A more advanced version of MT4, offering more features and functionality.
• cTrader: A professional trading platform designed for ECN trading.

What are the leverage options for IG Group and IC Markets?

IG Group:

• UK clients: Up to 1:30 leverage for major currency pairs.
• International clients: Up to 1:200 leverage for major currency pairs.

IC Markets:

• Up to 1:500 leverage for major currency pairs.

What are the fees and commissions for IG Group and IC Markets?

IG Group:

• Spread: From 0.6 pips for major currency pairs.
• Commission: Up to $25 per trade for share dealing.

IC Markets:

• Spread: From 0.0 pips for major currency pairs (Raw Spread Account).
• Commission: $3.50 per lot per side (Raw Spread Account).

What are the customer support options for IG Group and IC Markets?

IG Group:

• Phone support: Available 24/7 in multiple languages.
• Email support: Available 24/7.
• Live chat support: Available 24/7.

IC Markets:

• Phone support: Available 24/5 in multiple languages.
• Email support: Available 24/5.
• Live chat support: Available 24/5.

What are the regulatory bodies for IG Group and IC Markets?

IG Group:

• UK: Regulated by the Financial Conduct Authority (FCA).
• Australia: Regulated by the Australian Securities and Investments Commission (ASIC).

IC Markets:

• Australia: Regulated by the Australian Securities and Investments Commission (ASIC).
• Cyprus: Regulated by the Cyprus Securities and Exchange Commission (CySEC).
• Seychelles: Regulated by the Financial Services Authority (FSA).

Conclusion

In conclusion, both IG Group and IC Markets are reputable and well-established forex brokers. While IG Group is more geared towards European traders, IC Markets is more focused on Asian and Latin American markets. Ultimately, the choice between the two will depend on your individual trading needs and preferences.