IC Markets vs IG.com Compared 2024

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IC Markets and IG are online forex brokers that offer their trading services to traders and investors. IC Markets is a regulated and trusted forex broker. It is regulated by multiple regulatory authorities including ASIC, CySEC, FSA. Similarly, IG is also a regulated broker which is regulated by ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA. Both the brokers have their own strengths and weaknesses.  

In this article, we will review and compare the brokerage services offered by IC Markets and IG. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

IC Markets vs IG: In a Nutshell

IC Markets

Founded in 2007 by Andrew Budzinksi, IC Markets is an Australian-based forex and CFD broker offering trading services to institutional and retail traders worldwide. The broker offers 2250+ trading instruments including  Forex, commodities, indices, bonds, stocks, futures, and cryptocurrencies. 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. IC Markets is a multi-asset trading platform of choice for high-volume traders, scalpers, and robots. To learn more, you can read our review on IC Markets where we have covered its features, pros, cons, ratings, and more.

ICMarkets Overview

ICMarkets Overview
  • Founded In: 2007 
  • Founder: Andrew Budzinksi
  • Headquarters: Australia
  • Minimum Deposit: $200
  • Maximum Leverage: Upto 1000:1 for FSA Jurisdiction, 30:1 for ASIC, CySEC clients.  
  • Regulations: ASIC, CySEC,  and FSA
  • Trading platform: MT4, MT5 and cTrader
  • Trading Instruments: 2150+ Trading Instruments including Forex, Crypto, Stock, Commodity Indices, Bonds, Futures.
  • Account Types: Standard, Standard, Raw (Metatrader, Ctrader) 
  • Fees: Spread starting from 0.8 Pips(Standard Accounts) or $3 to 3.5 Commission (Raw Accounts)
  • Payment Options: bank/wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.
  • US Traders: Not Accepted 

IG

Founded in 1974 as IG Index by British financier Stuart Wheeler, IG is a well-known forex and CFD broker. Based in the United Kingdom, IG offers online trading services, including spread betting and CFD trading. It provides access to over 100 forex currency pairs, CFDs, commodities, stocks, indices, gold, silver, oil, bitcoin, and other cryptocurrencies for personal investment and trading. As of 2021, IG had a market value of £2.9 billion and offered trading in 17,000 investment markets. Regulated by the Financial Conduct Authority (FCA), IG is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. To know more, read our review about IG.

IG Markets Overview

IG Markets Overview
  • Founded In: 1974
  • Minimum Deposit: $250
  • Maximum Leverage: 200:1
  • Regulations: ASIC, FCA, FSA, NFA , AMF, FMA, MAS, DFSA
  • Trading platform: MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Account Types: Standard account, DMA Account
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, PayPal
  • US Traders:  Accepted 

IC Markets vs IG: Features

IC Markets:

  • Regulations: ASIC, CySEC, and FSA
  • Trading Instruments: 2150+ including  Forex, commodities, indices, bonds, stocks, futures, cryptocurrencies
  •  Minimum Deposit: $200 or Equivalent
  • Maximum leverage: up to 1000:1 in FSA jurisdiction, in some countries, it offers 500:1 leverage, for ASIC, and CySEC entity the brokers offers up to 1:30 leverage.   
  • Account types: Standard Account and Raw Account (Metater, Ctrader) 
  • Fees:  Spread starting from 0.8  pips for Standard Account or 3.00 to 3.50 per lot for Raw Account on a single Trip. 
  • PAMM/ MAM:  Not Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

IG

  • Trading Instruments: 17,000+ trading instruments including forex, indices, cryptocurrencies, shares, commodities, bonds, options, etc
  • Maximum leverage: 30:1 to 200:1 ( dependent on Jurisdiction and Tradable assets) 
  • Minimum Deposit: No Minimum Deposit. However, the Minimum requires $250 if traders use credit/debit cards or PayPal 
  • Account Types:  Ig Offers couple of account types including Standard Accounts, Limited Risk Accounts, Spread Betting Accounts, Options Trading Accounts, Turbo24 Accounts, Share Dealing Accounts, Professional Accounts, etc
  • PAMM/ MAM:  Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

IC Markets vs IG: 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

IG

Pros
  • Regulated by multiple top tire regulators like  NFA,  FCA, ASIC, FSA, AMF, FMA, MAS, DFSA 
  • Allows scalping, EA/ Robot Trading, News Trading
  • Offers web trading, mobile trading and ECN Trading 
  • IG's acquisition of tastytrade for $1 billion brought options trading and listed-derivatives (such as futures) trading to clients in the United States
  • 16,000 trading instruments, investments in IPOs and exchange-traded funds;
  • Quality choice of trading platforms, including MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
  • Relatively good spreads, from 0.6-1 pips depending on the type of instrument;
  •  Offers passive investment programme ( MAM, PAMM accounts)
Cons
  • Relatively high Minimum deposit ( Min Deposit $250) 
  • Conservative leverage in some areas  ( The max leverage is 1:200)
  • IG charges $/£12/€14 per month after 24 months of inactivity 
  • Limited product range on MT4
  • High Stock CFD fees 

IC Markets vs IG: Side-by-Side Comparison

ICMarkets
IG
Product
Product
ICMarkets
IG
Founded In
Founded In
2007
1974
Founded By
Founded By
Andrew Budzinksi
Stuart Wheeler
Headquarters
Headquarters
Sydney, Australia
London, UK
Regulations
Regulations
ASIC, CySEC, FSA, and SCB
ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA
Min Deposit
Min Deposit
$200
None
Max Leverage
Max Leverage
1:500
1:200
Tradable Assets
Tradable Assets
Over 2100 forex, CFDs in stocks, indices, commodities, cryptos, and Bonds.
Forex, indices, Cryptocurrencies, Shares, Commodities
Fees
Fees
Spreads from 0.6 pips, Commissions $7/round lot
Spread starting from 0.1 pips
Platforms and Tools
Platforms and Tools
MT4, MT5, and cTrader
MT4, WebTrader, MobileTrader (MobileApp), ProRealTime
US Traders
US Traders
Not Allowed
Allowed

IC Markets Vs IG: Our Scores and Ratings

We rated both brokers, IC Markets and IG, 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

IG:

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

Final Verdict :

Both IC Markets and IG.com offer similar trading services globally and are regulated forex brokers. The minimum lot size for both is as low as 0.1. However, there are some differences between them.

For example, IC Markets is regulated by 3 regulatory authorities, including ASIC, CySEC, FSA , while IG.com is regulated by 9 regulatory authorities, including ASIC, FCA, JFSA, SFC (Hongkong), FSCA, MAS, FMA, GmbH, FINMA. The trading cost for IC Markets is 0.8 pips spread or commission from $3 to $3.5, whereas IG.com’s trading cost is 0.6 points on key FX pairs, 0.8 points on major indices, and 0.1 points on commodities.

IC Markets cannot accept US clients as it is not regulated in the USA, while IG.com, being a US-regulated forex broker, can accept clients from both the US and around the world.

Our score for IG.com is 9, and for IC Markets, it is 9.3 (according to our expert ratings, brokers that achieve a score of 8.00 or higher are considered safe and trustworthy).

Therefore, IC Markets is most suited and trusted for non-US traders. However,  if you are a US trader seeking a trusted and regulated forex broker, IG.com is a perfect choice.

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.

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