| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FXOpen | $1 Minimum Deposit | MT4, MT5, TickTrader Trading Platforms | 600+ Markets To Trade | FXOpen has a low minimum deposit of $1, offers a Cent account, allows automated trading with EAs and provides user friendly TickTrader About |
| IC Markets | $200 Minimum Deposit | MT4, MT5, cTrader Trading Platforms | 2500+ Markets To Trade | IC Markets supports a wide range of trading styles, offers MT4, MT5 and cTrader and has a wide range of markets to trade About |
FXOpen vs IC Markets Comparison
These brokers offer access to Interbank liquidity, and provide low spreads, plus a commission charge. They each have STP accounts, which do not charge commissions. Both FXOpen and IC Markets offer a range of Cryptocurrency CFDs to trade.
IC Markets offers MT4, MT5 and cTrader, while FXOpen provides MT4, MT5 and TickTrader. FXOpen can offer a lower minimum commission charge, but this is dependent on the volume traded and its highest commission charge is higher than IC Market's charge.
ECN conditions
These are each no dealing desk and neither restricts trading styles, thus news trading, scalping and automated trading is allowed. Both use Equinix's NY4 Data Center in New York for MT4 and MT5 while IC Markets uses Equinix LD5 Data Centre in London for cTrader.
Quick comparison
Both provide MT4 and MT5, IC Markets also offers cTrader while FXOpen also provides TickTrader.
Minimum deposit and account types
The minimum deposit for FXOpen is $1. The minimum deposit for IC Markets is $200.
- FXOpen offers ECN, STP, Micro and Crypto account types. The minimum deposit is $1 for the Micro account, $10 for the STP and Crypto accounts and $100 for the ECN account. The ECN account charges commissions on its markets, the STP does not charge commissions. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). FXOpen supports social and copy trading via ZuluTrade and Myfxbook. The minimum trade size is 0.0001 lots on the Micro account. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.
- IC Markets offers the Standard, Raw Spread, Islamic (Swap Free) and cTrader Raw accounts. IC Markets provides market analysis, Web TV (market commentary and trade ideas in a video), educational articles and video tutorials and an economic calendar on its website. IC Markets provides ZuluTrade and Myfxbook for social and copy trading. IC Markets uses Equinix NY4 and London LD5 Servers to deliver low latency trading conditions and has micro (0.01) lot trading.
- IC Markets's Standard account does not charge a commission, but the Raw Spread and cTrader Raw accounts charge a commission. Scalping, hedging and automated trading are allowed.
Markets
- FXOpen offers Forex, Indices, Energy, Metals and Stocks, with 600+ available.
- IC Markets offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies, Soft Commodities, Bonds and ETFs, with 2500+ available.
FXOpen provides 45+ Forex pairs, IC Markets provides 60+ Forex pairs.
| Broker | Trading Platforms | Description |
|---|---|---|
| FXOpen Broker | MT4, MT5, TickTrader Trading Platforms | FXOpen offers trading on MT4 and MT5, allowing automated trading, and trading on user friendly TickTrader Description |
| IC Markets Broker | MT4, MT5, cTrader Trading Platforms | IC Markets provides automated trading on MT4, MT5 and cTrader, with high speed order execution Description |
Cryptocurrency CFDs
- FXOpen offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, EOS, Emercoin, Dashcoin, IOTA, Ethereum Classic, Emercoin, Monero and NEO CFDs.
- IC Markets offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, EOS, Emercoin, Dash, Namecoin, Peercoin, Dogecoin, Tezos, Uniswap, Cardano, Binance Coin, Polkadot, Stellar and Chainlink CFDs.
Spreads and leverage
- Both brokers can offers Forex spreads from 0 plus a commisison charge.
Maximum leverage for FXOpen is 500:1. Maximum leverage for IC Markets (FSA regulated) is 500:1.
Commissions
- For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.
- IC Markets charges a commission of $3.50 per lot per side for the MT4 and MT5 Raw Spread accounts while the cTrader Raw Spread account charges a commission of $3 per 100,000 USD traded per side.
Online trading platforms
FXOpen offers MT4, MT5 and TickTrader. IC Markets provides MT4, MT5 and cTrader.
Why FXOpen or IC Markets ?
Traders who wish to trade on MT4 and MT5 may do so at either broker. Those who want to trade on cTrader can do this at IC Markets. Those who want to trade on user friendly TickTrader can find this platform at FXOpen. Traders who want to trade on a Cent account with a low minimum deposit can find one at FXOpen.
Comparison summary
- The are each CFD brokers
- They can provide low spreads plus a commission charge
- Each provides a range of Cryptocurrency CFDs to trade
- Both offer ECN and STP trading
- IC Markets can offer a wider range of markets
- FXOpen provides MT4, MT5 and TickTrader
- IC Markets offers MT4, MT5 and cTrader
- FXOpen has a $1 minimum deposit
