eToro vs IC Markets
If you are reading this article, you’re likely having trouble deciding whether eToro 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 eToro 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
- eToro vs IC Markets - Verdict
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Headquarters | Israel | Australia |
Regulators | ASIC, CySEC, FCA, FSA | ASIC, CySEC, FSA |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2007 | 2010 |
Execution Type(s) | Market Maker | ECN/STP |
Minimum Deposit | $50 - $10,000 | $200 |
Negative Balance Protection | N/A | |
Trading Platform(s) | Proprietary platform | MetaTrader 4, MetaTrader 5, cTrader |
Average Trading Cost EUR/USD | 1.0 pips | 0.0 pips ($0.00) |
Average Trading Cost GBP/USD | 2.2 pips | 0.0 pips ($0.00) |
Average Trading Cost WTI Crude Oil | $0.05 | $0.03 |
Average Trading Cost Gold | $0.45 | $0.05 |
Retail Loss Rate | 74% | N/A |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Features and Platforms
| | |
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Get Started | Get Started |
eToro attempts to remain one of the leaders in the social trading scene, and IC Markets is among the best multi-asset CFD brokers for automated trading solutions. eToro offers clients CopyTrader and CopyPortfolios, allowing for easy social trading, also optimized for mobile following. IC Markets maintains one of the best trading environments with the MT4/MT5, upgraded with 20 add-ons. It also has the cTrader trading platform and offers social trading through market leaders ZuluTrade and Myfxbook AutoTrade.
Available Markets
Cryptocurrency traders will find one of the best selections at eToro, with 93 cryptocurrencies. Forex traders have only 49 currency pairs. IC Markets offers just ten cryptocurrencies but 60 currency pairs, creating more balance for diversified traders. eToro takes a distinct leadership position with more than 2,000 equity CFDs versus 200+ at IC Markets. eToro also provides 151 ETFs, 31 commodities and 13 index CFDs. IC Markets completes its asset selection with 19+ commodities, 23 index CFDs, six bonds, and four futures contracts. While eToro has more quantity, IC Markets grants a quality choice and better trading conditions.
| | |
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks | N/A | |
Stocks (non-CFDs) | ||
Bonds | ||
ETFs | ||
Options | N/A | |
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Typical Spreads and Fees
IC Markets takes a clear leadership position over eToro when it comes to the cost structure. The commission-free Forex trading environment is equally expensive at both brokers, with a minimum mark-up of 1.0 pips. IC Markets features an ECN alternative where traders can access raw spreads for a commission of $7.00 per round lot, creating a competitive offer for active traders. eToro charges 0.09% for equity CFDs, an acceptable cost. Traders will pay swap rates on leveraged overnight positions at eToro and IC Markets, but the former levies a $5 withdrawal internal fee.
| | |
Average Trading Cost EUR/USD | 1.0 pips | 0.0 pips ($0.00) |
Average Trading Cost GBP/USD | 2.2 pips | 0.0 pips ($0.00) |
Average Trading Cost WTI Crude Oil | $0.05 | $0.03 |
Average Trading Cost Gold | $0.45 | $0.05 |
Average Trading Cost Bitcoin | $574 | $12.47 |
Minimum Raw Spreads | 0.8 pips | N/A |
Minimum Standard Spreads | 1.3 pips | N/A |
Minimum Commission for Forex | $0.00 | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | $10 monthly after 12 monthd | N/A |
| Get Started | Get Started |
Security and Trust
The Australian Securities & Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) regulates both brokers. eToro has additional oversight from the UK Financial Conduct Authority (FCA) and is also registered with FinCEN in the US as a Money Services Business. IC Markets maintains one subsidiary with oversight from the Seychelles Financial Services Authority (FSA). Both brokers segregate client deposits, comply with AML/KYC stipulations, and established a trustworthy relationship with clients. Negative balance protection exists. IC Markets notes external audits and provides more details concerning the security of its trading environment, which enhances client trust.
| | |
Country of the Regulator | Australia, Cyprus, Seychelles, United Kingdom | Australia, The Bahamas, Cyprus, Seychelles |
Name of the Regulator | ASIC, CySEC, FCA, FSA | ASIC, CySEC, FSA |
Regulatory License Number | 491139, 109/10, 583263, SD076 | 335692, SD018, SIA-F214, 362/18 |
Regulatory Tier | N/A | 1, 4, 4, 1 |
| Get Started | Get Started |
eToro vs IC Markets – Verdict
High-frequency traders, those who deploy advanced trading solutions, scalpers, and multi-asset traders who require a competitive trading environment will determine IC Markets as the clear frontrunner. Clients have access to one of the best trading platforms due to 20 add-ons for the MT4/MT5 trading platforms, with cTrader presenting an attractive alternative. The technology infrastructure and liquidity at IC Markets enhance the excellent product and services portfolios. It includes quality research and valuable educational content. Besides being one of the leaders for automated trading solutions, IC Markets support social trading via market leaders and eToro competitors ZuluTrade and Myfxbook AutoTrade. eToro provides social traders with CopyTrader and CopyPortfolios, making following others in the community hassle-free. It is also a leading cryptocurrency broker and home to one of the largest trading communities but fails to deliver a competitive trading environment to advanced traders. eToro also lacks trading tools.
You might also be interested in reviewing the below broker comparisons:
- eToro vs Degiro
- eToro vs moomoo
- eToro vs OctaFX
- IC Markets vs Oanda
- IC Markets vs FXCC
- IC Markets vs ActivTrades
FAQs
Does eToro or IC Markets offer lower pricing?
IC Markets provides traders with one of the lowest cost structures in its ECN account with raw spreads of 0.0 pips for a commission of $7.00 per round lot. eToro is more expensive with a minimum mark-up of 1.0 pips for currency pairs and a 0.9% fee on equity CFDs.
Which trading platform is better: eToro or IC Markets?
IC Markets maintains one of the best trading platforms thanks to 20 add-ons for the MT4/MT5 trading platforms. It also offers traders the cTrader trading platform.
How many Forex pairs and CFDs are available to trade?
eToro has 49 currency pairs and more than 2,000 CFDs versus 60 and 200+ at IC Markets.
What are the minimum deposits for these brokers?
The minimum deposit at eToro was recently increased to $500, while IC Markets asks for $200.