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Our top alternative brokers to IC Markets
Pepperstone
4.6
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74-89% of retail CFD accounts lose money
Vantage FX
4.4
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74-89% of retail CFD accounts lose money
Our top alternative brokers to IC Markets
Pepperstone
4.6
Visit broker
74-89% of retail CFD accounts lose money
Vantage FX
4.4
Visit broker
74-89% of retail CFD accounts lose money
IC Markets Alternatives

The best alternatives to IC Markets are

  1. Pepperstone - Australian forex broker
  2. Vantage FX - Global CFD and forex broker
  3. Axi - Australian forex broker
  4. Eightcap - Global forex broker

Let's see in a bit more detail how the IC Markets alternatives compare to IC Markets and each other:

IC Markets alternatives comparison
IC Markets Pepperstone Vantage FX Axi Eightcap
Overall score 4.5 4.6 4.4 4.4 4.2
Fees score 4.5 stars 4.4 stars 4.3 stars 4.6 stars 4.5 stars
Account opening score 5.0 stars 5.0 stars 5.0 stars 4.4 stars 5.0 stars
Deposit and withdrawal score 4.9 stars 4.3 stars 4.5 stars 4.4 stars 4.5 stars
Web platform score 2.8 stars 2.8 stars 2.8 stars 2.8 stars 3.0 stars
Markets and products score 1.8 stars 1.7 stars 1.6 stars 1.8 stars 1.3 stars
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73% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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76.4% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money

Why are these brokers considered good alternatives to IC Markets? There are many areas based on which IC Markets can be compared with others. When we say a given online broker is a good alternative to IC Markets we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

IC Markets alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • IC Markets is recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options
  • Pepperstone is recommended for forex traders looking for great account opening and customer service
  • Vantage FX is recommended for forex and cfd traders familiar with the metatrader trading platforms
  • Axi is recommended for forex traders familiar with the metatrader 4 platform
  • Eightcap is recommended for forex traders who prefer the metatrader platform

Important factors of finding IC Markets alternatives

So far BrokerChooser has reviewed 84 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether IC Markets or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. IC Markets is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost IC Markets alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At IC Markets this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at IC Markets, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given IC Markets alternative is a must.


Now let's dive into the details of how IC Markets and its alternatives perform in the most important areas!

IC Markets alternatives
IC Markets

IC Markets is an Australia-based global forex broker that was founded in 2007. The company has several branches and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC).

IC Markets is considered safe because it is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders who value easy account opening and free deposit/withdrawal options

Pros Cons
Low forex fees Limited product selection
Easy and fast account opening Slow live chat support
Free deposit and withdrawal No investor protection for non-EU clients

Visit broker
73% of retail CFD accounts lose money

Fees
4.5

IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.
Pros Cons
Low trading fees High financing rate for CFDs
Low non-trading fees
Low forex fees
IC Markets alternatives trading fees
IC Markets Pepperstone Vantage FX Axi Eightcap
EURUSD benchmark fee $6.9 $6.9 $6.0 $5.6 $6.4
EURGBP benchmark fee $7.5 $8.5 $7.5 $4.4 $6.9

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

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73% of retail CFD accounts lose money

Account opening
5.0

The account opening process at IC Markets is user-friendly and fully digital. It was also very quick, as our account was approved within a day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
IC Markets alternatives minimum deposit and account open times
IC Markets Pepperstone Vantage FX Axi Eightcap
Minimum deposit $200 $0 $200 $0 $100
Time to open account 1 day 1 day 1 day 1-3 days 1 day

Learn more about IC Markets minimum deposit here.

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73% of retail CFD accounts lose money

Deposit and withdrawal
4.9

IC Markets's deposit and withdrawal services are great, with many options available, mostly free of charge. On the negative side, international bank withdrawals are expensive.
Pros Cons
Credit/Debit card available AUD 20 fee for international bank withdrawal
No deposit fee
Several account base currencies
IC Markets and alternatives withdrawal options and fees
IC Markets Pepperstone Vantage FX Axi Eightcap
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card Yes Yes Yes No No
Electronic wallets Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $0 $0 $0

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73% of retail CFD accounts lose money

Web trading platform
2.8

The web trading platform of IC Markets is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
IC Markets - Web trading platform
IC Markets and alternatives trading platform scores
IC Markets Pepperstone Vantage FX Axi Eightcap
Web platform score 2.8 stars 2.8 stars 2.8 stars 2.8 stars 3.0 stars
Mobile platform score 3.8 stars 3.8 stars 3.8 stars 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars 3.4 stars 3.4 stars 3.4 stars

Learn more about IC Markets's web trading platform in the detailed IC Markets review.

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73% of retail CFD accounts lose money

Markets and products
1.8

At IC Markets, you can trade only forex and CFDs. This means that many popular asset classes, such as real stocks or ETFs, are not available.
IC Markets and alternatives markets and products
IC Markets Pepperstone Vantage FX Axi Eightcap
Stock No No No No No
ETF No No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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73% of retail CFD accounts lose money

Verdict

IC Markets is a great forex broker. 

Its forex fees are low and opening an account is fast and easy. Deposits and withdrawals are free and the process is user-friendly. The education section of the website is also a plus.

On the other hand, IC Markets offers only forex and CFD products for trading. In addition, live chat support could be better, and non-EU clients are not covered by any investor protection scheme.

Feel free to try IC Markets, as you can have an account within a day and there is no inactivity fee.

IC Markets
Summary IC Markets is a global forex and CFD broker. The company is regulated by finanacial authorities globally, including the top-tier ASIC.
Fees score 4.5 stars
Recommended for Forex and CFD traders who value easy account opening and free deposit/withdrawal options

Visit broker More
73% of retail CFD accounts lose money

IC Markets alternatives
Pepperstone

Pepperstone is an Australian forex broker that also offers CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients. After Brexit, new clients registering from the EU are served by their German and Cyprus arm.

Pepperstone is considered safe because it's regulated by three top-tier financial authorities: the UK's Financial Conduct Authority (FCA), Germany's BaFin and the Australian Securities and Investments Commission (ASIC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for great account opening and customer service

Pros Cons
Fast and fully digital account opening Only forex and CFDs
Great customer service Basic news flow
Seamless and free deposit and withdrawal

Visit broker
74-89% of retail CFD accounts lose money

Fees
4.4

Pepperstone has low forex and non-trading fees, as no inactivity or account fee is charged. However, the CFD financing rates, i.e. fees for holding CFD positions overnight, are high for a few assets.
Pros Cons
Low forex fees High costs for holding positions overnight
No withdrawal fee
No inactivity fee
IC Markets vs. Pepperstone: Trading fees
Pepperstone IC Markets
EURUSD benchmark fee $6.9 $6.9
EURGBP benchmark fee $8.5 $7.5

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
74-89% of retail CFD accounts lose money

Account opening
5.0

Pepperstone's account opening process is great. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
Pros Cons
Fast None
Fully digital
No minimum deposit
IC Markets vs. Pepperstone: Minimum deposit, time to open an account
Pepperstone IC Markets
Minimum deposit $0 $200
Time to open account 1 day 1 day

If you are interested more in Pepperstone minimum deposit, this overview will help you.

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74-89% of retail CFD accounts lose money

Deposit and withdrawal
4.3

Pepperstone provides plenty of deposit and withdrawal options, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
Pros Cons
Credit/Debit card available High bank withdrawal fee for clients outside the EU/Australia
No deposit fee
Several account base currencies
IC Markets vs. Pepperstone: Withdrawal options
Pepperstone IC Markets
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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74-89% of retail CFD accounts lose money

Web trading platform
2.8

Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks two-step login and price alerts, and its design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation
Web trading platform of Pepperstone, a IC Markets alternative
IC Markets vs. Pepperstone: Trading platform scores
Pepperstone IC Markets
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.

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74-89% of retail CFD accounts lose money

Markets and products
1.7

At Pepperstone you can only trade with forex and other CFDs (commodities, stock indices, share CFDs, cryptos). This means that many popular asset classes, like real stocks and ETFs, are missing.
IC Markets vs. Pepperstone: Markets and products
Pepperstone IC Markets
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

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74-89% of retail CFD accounts lose money

Verdict

Pepperstone is a great forex and CFD broker, regulated by the top-tier FCA, BaFin and ASIC.

The account opening is fast and fully digital. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.

On the other hand, Pepperstone provides only forex, CFDs and cryptos to trade with. Their news flow is rather basic. Lastly, while the majority of customers do have negative balance protection, this is not the case outside the EU/UK/Australia/Middle East.

Feel free to try Pepperstone since there is no inactivity fee or minimum deposit for standard accounts.

Pepperstone
Summary Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia.
Fees score 4.4 stars
Recommended for Forex traders looking for great account opening and customer service

Visit broker More
74-89% of retail CFD accounts lose money

IC Markets alternatives
Vantage FX

Australia-based Vantage FX is a global forex and CFD broker. It was founded in 2009 and it is regulated by the Cayman Islands Monetary Authority (CIMA) and the Australian Securities and Investments Commission (ASIC). 

Vantage FX is considered safe because it is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

 

Recommended for forex and cfd traders familiar with the metatrader trading platforms

Pros Cons
Low fees Limited product selection
Super fast account opening Customer service could be improved
Seamless deposit and withdrawal No investor protection

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74-89% of retail CFD accounts lose money

Fees
4.3

Vantage FX has low forex trading fees and non-trading fees. The broker charges no inactivity fee. On the negative side, the financing rates/overnight fees and share CFD fees are relatively high.
Pros Cons
Low forex fees High financing rate
No withdrawal fee High stock CFD fees
No inactivity fee
IC Markets vs. Vantage FX: Trading fees
Vantage FX IC Markets
EURUSD benchmark fee $6.0 $6.9
EURGBP benchmark fee $7.5 $7.5

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

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74-89% of retail CFD accounts lose money

Account opening
5.0

The account opening at Vantage FX is super fast and fully digital. The brokerage delivers on its promise, you can open an account in less than 5 minutes.
Pros Cons
Fast None
Fully digital
Low minimum deposit
IC Markets vs. Vantage FX: Minimum deposit, time to open an account
Vantage FX IC Markets
Minimum deposit $200 $200
Time to open account 1 day 1 day

If you are interested more in Vantage FX minimum deposit, this overview will help you.

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74-89% of retail CFD accounts lose money

Deposit and withdrawal
4.5

Vantage FX offers a great variety of deposit and withdrawal options, moving funds in and out is fast and easy. In most cases, there is no fee charged for money transfer. Nevertheless, if you use international bank withdrawal more than once in a month, a high withdrawal fee ($20, €20, etc.) is charged.
Pros Cons
Credit/Debit card available International bank withdrawals (after the first one in each month) have a high fee
No deposit fee
Quick deposit and withdrawal
IC Markets vs. Vantage FX: Withdrawal options
Vantage FX IC Markets
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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74-89% of retail CFD accounts lose money

Web trading platform
2.8

Vantage FX's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, the platform lacks two-step login or price alerts and its design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Web trading platform of Vantage FX, a IC Markets alternative
IC Markets vs. Vantage FX: Trading platform scores
Vantage FX IC Markets
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about Vantage FX's web trading platform in the detailed Vantage FX review.

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74-89% of retail CFD accounts lose money

Markets and products
1.6

At Vantage FX you can only trade with forex and CFDs (commodities, stock indices, share CFDs, cryptos). However, many popular asset classes, like real stocks or ETFs, are missing.
IC Markets vs. Vantage FX: Markets and products
Vantage FX IC Markets
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

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74-89% of retail CFD accounts lose money

Verdict

Vantage FX is a forex and CFD broker, regulated by the top-tier ASIC.

It offers low forex and non-trading fees. The account opening and the deposit/withdrawal processes are seamless and most of them are free of charge.

On the other hand, the product offering at Vantage FX is limited to forex, CFDs, and cryptos. Their customer service could use some improvement. Lastly, there is no investor protection for Vantage FX clients.

Feel free to give Vantage FX a try, as you will have an account within a day and there is no inactivity fee.

Vantage FX
Summary Vantage FX is a forex and CFD broker regulated bythe Cayman Islands and Australian financial authorities.
Fees score 4.3 stars
Recommended for Forex and CFD traders familiar with the MetaTrader trading platforms

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74-89% of retail CFD accounts lose money

IC Markets alternatives
Axi

Axi (previously known as AxiTrader) is an Australian forex broker founded in 2007. The new brand "Axi" was launched in 2020.

Axi is regulated by multiple financial authorities worldwide, such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Dubai Financial Services Authority (DFSA). As such, Axi is considered safe because it is regulated by several top-tier authorities.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders familiar with the metatrader 4 platform

Pros Cons
Low forex fees and no inactivity fee Offers only forex and CFD trading
No withdrawal and deposit fees Limited research tools
Fully digital account opening 24/5 customer service

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76.4% of retail CFD accounts lose money

Fees
4.6

Axi has low forex and CFD fees. Non-trading fees are also low, as no withdrawal or inactivity fees are charged.
Pros Cons
Low non-trading fees None
Low forex fees
Low CFD fees
IC Markets vs. Axi: Trading fees
Axi IC Markets
EURUSD benchmark fee $5.6 $6.9
EURGBP benchmark fee $4.4 $7.5

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
76.4% of retail CFD accounts lose money

Account opening
4.4

Account opening at Axi is user-friendly and fully digital, but it takes a bit longer than at similar online brokers.
Pros Cons
Fully digital Slower account opening time
No minimum deposit
Low minimum deposit
IC Markets vs. Axi: Minimum deposit, time to open an account
Axi IC Markets
Minimum deposit $0 $200
Time to open account 1-3 days 1 day

If you are interested more in Axi minimum deposit, this overview will help you.

Visit broker More
76.4% of retail CFD accounts lose money

Deposit and withdrawal
4.4

Axi charges no deposit or withdrawal fees. You can use credit/debit cards, bank transfer and electronic wallets for deposits, but only wire transfers and e-wallets for withdrawals.
Pros Cons
Credit/Debit card available Withdrawal only via wire transfer or e-wallets
Free withdrawal
No deposit fee
IC Markets vs. Axi: Withdrawal options
Axi IC Markets
Bank transfer Yes Yes
Credit/debit card No Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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76.4% of retail CFD accounts lose money

Web trading platform
2.8

The web trading platform of Axi (provided by MetaTrader) is highly customizable and has a clear fee report. On the other hand, its design is outdated and it lacks a two-step login and price alerts.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
Web trading platform of Axi, a IC Markets alternative
IC Markets vs. Axi: Trading platform scores
Axi IC Markets
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about Axi's web trading platform in the detailed Axi review.

Visit broker
76.4% of retail CFD accounts lose money

Markets and products
1.8

Axi provides only forex and CFDs. Popular asset classes, like real stocks or ETFs, are not available.
IC Markets vs. Axi: Markets and products
Axi IC Markets
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

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76.4% of retail CFD accounts lose money

Verdict

Axi is regulated by multiple authorities globally, like the UK's FCA and ASIC in Australia.

On the plus side, forex fees are low and no inactivity fee is charged. Deposits and withdrawals are also free of charge. Account opening is easy and fully digital, without any minimum deposit, which is also great.

AxiTrader has some drawbacks, though. Its product range is limited to FX and CFDs, and its research tools lack recommendations and fundamental data. In addition, customer support is only 24/5.

Feel free to try Axi, as the trading fees are low and there are no deposit, withdrawal or inactivity fees.

Axi
Summary Axi was previously known as AxiTrader. It is an Australian forex broker, regulated by top-tier authorities such as the UK FCA or Australia's ASIC.
Fees score 4.6 stars
Recommended for Forex traders familiar with the MetaTrader 4 platform

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76.4% of retail CFD accounts lose money

IC Markets alternatives
Eightcap

Eightcap is an Australian global forex broker that was founded in 2009. The company operates two entities, regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

Eightcap is considered safe because it is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders who prefer the metatrader platform

Pros Cons
Low forex fees Slim product selection
Seamless, quick account opening Limited research and educational tools
Free deposit and withdrawal No negative balance protection

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74-89% of retail CFD accounts lose money

Fees
4.5

Eightcap has low forex and CFD fees, especially if you choose the Raw account. There are also no inactivity or withdrawal fees you have to pay.
Pros Cons
Low trading fees None
Low non-trading fees
Low forex fees
IC Markets vs. Eightcap: Trading fees
Eightcap IC Markets
EURUSD benchmark fee $6.4 $6.9
EURGBP benchmark fee $6.9 $7.5

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

Visit broker More
74-89% of retail CFD accounts lose money

Account opening
5.0

Opening an account at Eightcap is seamless and fast. The whole process is fully digital and your account should be approved within one day.
Pros Cons
Fully digital None
Low minimum deposit
User-friendly
IC Markets vs. Eightcap: Minimum deposit, time to open an account
Eightcap IC Markets
Minimum deposit $100 $200
Time to open account 1 day 1 day

If you are interested more in Eightcap minimum deposit, this overview will help you.

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74-89% of retail CFD accounts lose money

Deposit and withdrawal
4.5

At Eightcap deposits are free, as are most withdrawal methods, with e-wallet options also available. The selection of account base currencies is limited however to major currencies.
Pros Cons
Credit/Debit card available No minor currencies available
Free withdrawal
No deposit fee
IC Markets vs. Eightcap: Withdrawal options
Eightcap IC Markets
Bank transfer Yes Yes
Credit/debit card No Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

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74-89% of retail CFD accounts lose money

Web trading platform
3.0

Surprisingly, MT4 web is not available at Eightcap, only MT5, which is a bummer. The platform itself is similar to MT4 - it is customizable, but has more order types. However, price alerts are still not available, and there's no two-factor authentication.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Good variety of order types
Web trading platform of Eightcap, a IC Markets alternative
IC Markets vs. Eightcap: Trading platform scores
Eightcap IC Markets
Web platform score 3.0 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

Learn more about Eightcap's web trading platform in the detailed Eightcap review.

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74-89% of retail CFD accounts lose money

Markets and products
1.3

Eightcap's product selection covers only forex and CFDs for MT4 users. MT5 users can also access CFD cryptos but overall, popular asset types like real stocks and ETFs are not available.
IC Markets vs. Eightcap: Markets and products
Eightcap IC Markets
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

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74-89% of retail CFD accounts lose money

Verdict

We recommend Eightcap for users looking for a MetaTrader 4-5 broker with low forex fees and fast and easy account opening. It is also great that deposits and withdrawals are free of charge on the broker's end, with a user-friendly process.

On the other hand, available products are limited to CFDs, forex and cryptos (for MT5 clients). Also, clients are not covered by a negative balance protection scheme.

Feel free to try Eightcap if you'd like to have a verified broker account with low forex fees within a day.

Eightcap
Summary Eightcap is an Australian forex broker. It is regulated by both ASIC and VFSC, and is available globally for clients.
Fees score 4.5 stars
Recommended for Forex traders who prefer the MetaTrader platform

Visit broker More
74-89% of retail CFD accounts lose money

IC Markets alternatives
Bottom line

Based on our analysis, there are several good alternatives to IC Markets. They all offer similar products and target similar customers. Here's a recap of the results in a table.

IC Markets alternatives
Broker Info Recommended for
IC Markets Global forex broker Forex and CFD traders who value easy account opening and free deposit/withdrawal options
Pepperstone Australian forex broker Forex traders looking for great account opening and customer service
Vantage FX Global CFD and forex broker Forex and CFD traders familiar with the MetaTrader trading platforms
Axi Australian forex broker Forex traders familiar with the MetaTrader 4 platform
Eightcap Global forex broker Forex traders who prefer the MetaTrader platform

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Ádám Nasli

Author of this article

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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74-89% of retail CFD accounts lose money
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76.4% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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