IC Markets vs FXTM : In-Depth Analysis 2024

Published :
Updated :
Written by

IC Markets and FXTM are Forex and CFD brokers that offer online trading services to traders and investors worldwide. Both brokers are regulated by top-tier regulatory authorities. IC Markets is regulated by two Tier-1, and one Tier-4 jurisdiction, including ASIC, CySEC, and FSA. On the other hand, the FXTM is regulated by one Tier-1 jurisdiction, one Tier-2 jurisdiction, and two Tier-4 jurisdictions including CySEC, FSA-S, FSC (Mauritius), and FSCA. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.

In this article, we will compare and contrast IC Markets with FXTM considering their pros, cons, trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. This comparison lets you understand which broker is better for your trading style and preferences

IC Markets vs FXTM: 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

FXTM

ForexTime (FXTM) was founded in 2011. The broker facilitates the trading of over 1,000 forex, CFDs, and real US stocks on its MT4, MT5, and FXTM trader platforms. FXTM states that it has over 1 million clients from over 150 countries and has won over 45 industry awards for excellent services.

FXTM Overview
  • Founded In: 2011
  • Minimum Deposit: $10
  • Maximum Leverage: 1:2000
  • Regulations: FSC (Mauritius)
  • Trading platform:MT4, MT5 and Mobile Trading
  • Account Types: Micro, Advantage, Advantage Plus
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
  • US Traders: Not Accept

IC Markets vs FXTM: 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

FXTM

Pros
  • FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA) 
  • Minimum deposit is $10
  • The Maximum leverage is as high as 1:2000
  • Ultra-low spreads starting from as low as 0 pips 
  • Offers Copy Trading & MAM Accounts
  • A wide range of trading instruments 
  • Negative balance protection for EU Clients 
  • Over 30 Payment Methods 
Cons
  • Inactivity and withdrawal fees
  • Does not support Myfxbook or ZuluTrader options for social trading
  • No futures or options trading
  • No negative balance protection for Non-EU Clients 
  • Most withdrawal options have a fee
  • Large spread on standard Account 

IC Markets vs FXTM: Side-by-Side Comparison

IC Markets
FXTM
Product
Founded In
Founded In
2007
2011
Founded By
Founded By
Andrew Budzinksi
Andre Dashin
Headquarters
Headquarters
Sydney, Australia
Limassol, Cyprus
Regulations
Regulations
ASIC, CySEC, FSA, and SCB
FSC (Mauritius)
Min Deposit
Min Deposit
$200
$10
Max Leverage
Max Leverage
1:500
1:2000
Tradable Assets
Tradable Assets
Over 2100 forex, CFDs in stocks, indices, commodities, cryptos, and Bonds.
Currencies, Stocks, Indices and Commodities
Fees
Fees
Spreads from 0.6 pips, Commissions $7/round lot
Spread from 0.0 pips , 0.4¢ - $2 COMMISSIONS ON FX AND CFDS
Platforms and Tools
Platforms and Tools
MT4, MT5, and cTrader
MT4, MT5 and Mobile Trading
US Traders
US Traders
Not Allowed
Not Allowed

IC Markets Vs FXTM: Our Scores and Ratings

We rated both brokers, IC Markets and FXTM, 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

FXTM:

8.6
Total Score
Regulation and Security (40%)9.4
Fees and Commissions (20%)8
Trading (15%)7.8
Trading tools (10%)7
Customer Support (10%)9
Trading Education (5%)9

Final Verdict :

IC Markets and FXTM are regulated forex and CFD brokers in the industry. They offer similar trading services including forex and CFD trading. They both allow scalping, hedging, EA trading and Copy trading. Neither of these brokers accept US Clients. The minimum order size for both of them is 0.01. 

However, there are a few areas where you may find some differences. For example, the minimum deposit for IC Markets is $200, whereas the minimum deposit for FXTM is $10. Additionally, the maximum leverage for the IC Market is generally 500:1(in some countries IC Markets offers 1000:1 leverage). On the other hand, the maximum leverage for FXTM is 2000:1. IC Market offers passive investment programs or copy trading programs like MAM, and Zulutrade. Similarly, FXTM offers passive investment programs like MAM to its clients.

Our score for IC Markets is 9.3, and for FXTM, it is 8.6. So, if you are looking for the most trusted forex brokers with tight spread and MAM account services, you may choose IC Markets. However, If you prefer a forex broker with a lower minimum deposit and higher leverage, you may choose FXTM.

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.

Leave a Comment