Ic Markets vs Etoro | Which is better in 2024

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IC Markets vs eToro: In a Nutshell

IC Markets

Andrew Budzinksi founded IC Markets in 2007 with the aim of using superior technology to provide forex and CFD trading services to both institutional and retail traders. Over the years, the broker has improved in quality and services. It offers true ECN trading with low spreads, high leverage, and fast executions to a global clientele.

ICMarkets Overview
  • Founded In: 2007
  • Minimum Deposit: $200
  • Maximum Leverage: 1:500
  • Regulations: ASIC, CySEC, SCB, and FSA
  • Trading platform: MT4, MT5 and cTrader
  • Account Types: Standard, cTrader raw spread, MetaTrader raw spread , Islamic
  • Payment Options: bank / wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.
  • US Traders: Not Accept

eToro

For over 15 years, eToro has been championing the art of social trading among forex traders. It has built a huge community comprising over 30 million traders who interact with each other while investors automatically copy the trades of expert traders. Additionally, you can trade real stocks, ETFs, and cryptos with eToro.

IC Markets vs eToro: Pros and Cons

IC Markets

Pros
  • Fully Regulated broker, ( One tire-1 , jurisdiction, one tire-2 jurisdiction) 
  • Super fast trade execution speed 
  • Straightforward registration process 
  • Low spread, starting from 0 pips. 
  • Easy and Fast Account Opening 
  • Free deposit and withdrawal 
  • Offers standard and raw spread account
  • Trading EA is Allowed 
  • Ability to trade from a mobile device 
  • A demo Account is available
Cons
  • Higher minimum deposit 
  • No investor protection for non-EU Clients 
  • Limited Product Selection 
  • No weekend Trading 
  • US Traders are not accepted

eToro

Pros
  • Regulated in numerous jurisdictions including CySEC, FCA, ASIC, FinCEN, MSB, FSA Seychelles, FSC Gibraltar, and FSA Malta.
  • Trading over 5,000 forex and CFD assets plus real stocks/ETFs and Cryptocurrencies.
  • A large community of social traders
  • Trading tools like market sentiments, news feed, Trading Central analysis, etc.
  • Investors can copy the trades of expert traders or invest in ‘CopyPortfolios’
  • Real Stocks and ETFs are Available 
  • Negative Balance Protection
Cons
  • Traders pay withdrawal fees, inactivity fees, and conversion fees.
  • You have no other platform choice than the eToro platform.
  • You cannot automate your strategies via trading robots.
  • No multiple account types; you can only have a retail account or a professional account.
  • Margin trading is not available to U.S. users
  • No limit orders for stocks.
  • Not Available in American Samoa, Guam, Hawaii, Nevada, New York, Puerto Rico and US Virgin Islands

IC Markets vs eToro: Side-by-Side Comparison

IC Markets
Etoro
Product
Founded In
Founded In
2007
2007
Founded By
Founded By
Andrew Budzinksi
Yoni Assia
Headquarters
Headquarters
Sydney, Australia
London, United Kingdom
Regulations
Regulations
ASIC, CySEC, FSA, and SCB,
CySec (Cyprus) , FCA (UK).
Min Deposit
Min Deposit
$200
$50
Max Leverage
Max Leverage
1:500
30:1
Tradable Assets
Tradable Assets
Over 2100 forex, CFDs in stocks, indices, commodities, cryptos, and Bonds.
Offer you over 5,000 instruments from a wide range of asset classes: Stocks, Indices, ETFs, Currencies, Commodities, Crypto
Fees
Fees
Spreads from 0.6 pips, Commissions $7/round lot
Spread from 2.0 pips
Platforms and Tools
Platforms and Tools
MT4, MT5, and cTrader
eToro trading platform
US Traders
US Traders
Not Allowed
Allowed

IC Markets Vs eToro: Our Scores and Ratings

We rated both brokers, IC Markets and Demo, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

IC Markets :

9.3
IC Markets Scores
Regulation and Security (40%)9.5
Fees and Commissions (20%)9.5
Trading (15%)8.5
Trading tools (10%)9
Customer Support (10%)9.6
Trading Education (5%)9.4

eToro:

9.1
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)9.5
Trading Education (5%)9

Final Verdict :

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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