Why choose IC Markets
IC Markets is highly recommended for forex traders, mostly because of its low trading fees. I won’t be lying to you: it’s the super tight spreads that keep me coming back to IC Markets, though its currency pair selection is also quite impressive. Beginners may find IC Markets’s industry-standard MetaTrader platform outdated and clunky, but seasoned traders will welcome its familiar features.
- Low forex fees
- Easy and fast account opening
- Free deposit and withdrawal
- Offers standard and raw spread accounts
74.32% of retail CFD accounts lose money
Fees
- Low trading fees
- Low non-trading fees
- Low forex fees
We compared IC Markets's fees with two similar brokers we selected, Pepperstone and Vantage. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of IC Markets alternatives.
Low FX fees
IC Markets charges a forex commmission: $3.50 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.0.
Broker | EURUSD spread | FX commission per lot |
---|---|---|
IC Markets | 0.0 | $3.50 commission per lot per trade |
Pepperstone | 0.1 | $3.50 commission per lot per trade |
Vantage | 0.1 | $3.00 commission per lot per trade |
Low index CFD fees
All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.2.
Broker | S&P 500 CFD spread |
---|---|
IC Markets | 0.2 |
Pepperstone | 0.4 |
Vantage | 0.4 |
Low stock CFD fees
The commission for stock CFD trading is the following: $0.02 per share.
Broker | Apple CFD |
---|---|
IC Markets | $0.3 |
Pepperstone | $0.7 |
Vantage | $6.8 |
No inactivity fee, low withdrawal fee
There are no inactivity, deposit or account fees. There is no fee for withdrawing funds when using credit/debit cards, electronic wallets or international bank transfers.
Broker | Inactivity fee | Withdrawal fee |
---|---|---|
IC Markets | $0 | |
Pepperstone | $0 | |
Vantage | $0 |
Safety
- Negative balance protection
- Long track record
Deposit and withdrawal
- Credit/Debit card available
- No deposit fee
- Several account base currencies
Account opening
- Fast
- Fully digital
- Low minimum deposit
Mobile app
- User-friendly
- Good search function
- Price alerts
Desktop platform
- Clear fee report
- Good customizability (for charts, workspace)
- Price alerts