AvaTrade vs IC Markets
If you are reading this article, you’re likely having trouble deciding whether AvaTrade or IC Markets is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this AvaTrade vs IC Markets review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- AvaTrade vs IC Markets - Verdict
|Feature||AvaTrade (visit site)||IC Markets (visit site)|
|MiFID, Central Bank of Ireland, FSA, ASIC, BVI, FFAJ, FSCA, ADMG - FRSA||CySEC, FSA, ASIC|
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U.S. Clients Allowed:
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Features and Platforms
Irish-based AvaTrade offers clients a comprehensive choice of trading platforms. Besides the retail-favorite MT4, which fully supports automated trading solutions and its successor MT5, this broker developed its proprietary WebTrader, AvaOptions specifically for options trading, and AvaTradeGo for mobile users. Additionally, it provides new traders with quality educational content. IC Markets, headquartered in Australia, became a leading broker catering to automated trading solutions. Its superb technology infrastructure provides exceptional execution on the MT4, MT4, and cTrader trading platforms. Social trading is available via Myfxbook AutoTrade and ZuluTrade, while MAM/PAMM accounts cater to retail account management. An excellent educational section eases new clients into the world of trading.
|Type of Platform:||MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based||MetaTrader 4, MetaTrader 5, cTrader, Web-based|
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The asset selection at AvaTrade consists of Forex, commodities, FX options, bonds, equities, indices, ETFs, and cryptocurrencies. With over 982 equity CFDs, traders have an above-average choice, which is suitable for all retail traders. Forex traders have 55 currency pairs and fourteen cryptocurrency pairs available for trading. Cross-asset diversification exists via 24 commodities, 26 index CFDs, 31 ETFs, and 42 options. IC Markets provides pure Forex traders with a slightly better selection amid 60 currency pairs but fewer assets across the board. While the overall selection, especially in equities, is lower, the quality of the mix remains competitive. AvaTrade does grant more trading opportunities with an excellent portfolio of assets.
Typical Spreads and Fees
AvaTrade maintains a commission-free trading environment, but therefore, the spreads remain higher as compared to most other brokers. The EUR/USD lists a mark-up of 0.9 pips, while the average mark-up on equities is 0.13%. IC Markets offers raw spreads as low as 0.0 pips for a commission of $7 per round lot. It provides high-frequency traders and scalpers with a distinct advantage. The IC commission-free account features a minimum spread of 1.0 pips, marginally above that of AvaTrade. Swap rates on leveraged overnight positions apply at both, but AvaTrade has an unacceptably high inactivity fee of $50 per month. Traders should also consider third-party withdrawal fees applicable at both brokers.
Security and Trust
AvaTrade operates under the oversight of the Central Bank of Ireland. The global regulatory framework consists of six additional jurisdictions, and this broker remains fully compliant with all. Traders should consider the difference in trading conditions from each entity, where the BVI, ASIC, and FSCA units remain notably more competitive. IC Markets operates two competitive business units out of Australia and Seychelles, with a less competitive one out of Cyprus. Client deposits at both brokers are segregate from corporate funds, and negative balance protection exists but depends on the jurisdiction. External audits add to the trust clients can have at IC Markets, but both brokers maintain a secure and reliable trading environment with spotless regulatory records.
AvaTrade vs IC Markets – Verdict
AvaTrade, founded in 2006, and IC Markets, operational since 2007, are two well-established and trusted CFD brokers. Both offer new traders a high-quality educational program, while IC Markets market research and analysis on its blog versus only market commentary at AvaTrade. Low-frequency traders and those seeking a more comprehensive asset selection will find a more suitable portfolio at AvaTrade, where commission-free trading adds appeal. High-frequency traders and those who prefer automated trading solutions from a raw spread trading environment will benefit more at IC Markets. Both expanded into the cryptocurrency sector, and IC Markets also features the cTrader trading platform, a leader in ECN trading. AvaTrade developed a proprietary mobile trading platform, attractive to emerging and frontier traders who prefer mobile devices of desktop and laptops. AvaTrade and IC Markets maintain a trustworthy trading environment. The minimum deposit at AvaTrade at $100 is lower than the $200 at IC Markets, where the leverage of 1:500 grants a competitive edge over the 1:30 available at AvaTrade.
Which broker is better for beginner traders?
IC Markets offers new traders an introductory selection of educational written content, videos, and material from Trading Central. AvaTrade, primarily via SharpTrader, its spun-out business unit, generates more quantity and quality. More than 40 lessons and 200 videos represent one of the most in-depth Forex trading courses available, making AvaTrade better for beginner traders.
What about MetaTrader and copy trading?
While both brokers provide the MT4 and MT5 trading platform, with full support for automated trading, AvaTrade only grants the core versions. IC Markets provides a competitive upgrade through its MT4 Advanced Trading Tools kit consisting of 20 custom exclusive trading tools. Copy-trading at AvaTrade is available via DupliTrade, ZuluTrade, and MQL5 Signal Service. IC Markets does not feature copy trading but enables retail account management through MAM/PAMM accounts.