IC Markets vs. IG

IC Markets is a primary location for scalpers and high-frequency traders. It maintains an excellent low-cost trading environment optimized for algorithmic traders with maximum leverage of 1:500. IC Markets continuously expands its asset selection and offers traders the MT4, MT5, and cTrader trading platforms. It upgrades the core MT4 trading platform with 20 unique plugins, elevating the sub-standard version into a cutting-edge trading solution.

Publicly listed broker IG remains the leading CFD broker industry-wide with an unmatched asset selection and the ability to write new CFDs. IG Markets offers its proprietary web-based trading platform, ProRealTime, MT4, and L2 Dealer. It also upgrades the core MT4 with 18 add-ons plus the Autochartist plugin, creating a superior MT4 trading experience.

We have conducted an in-depth review of IC Markets and IG to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformsIC Markets (visit site)IG (visit site)
Headquarter:AustraliaUK
Established :
20101974
Retail Loss Rate:
74.32%68.00%
Regulation:
Minimum Deposit:
$200$250
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
No£12 monthly after 24 months
Deposit Fee:
Withdrawal Fee
Third-PartyThird-Party
Funding Methods:
154
MT4:
MT5:
cTrader:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Excellent MT4 trading tools API Trading
Unique Feature Two:
Superior trade executionMT4 plugins + Autochartist
Broker Offers:

Noteworthy:

Both brokers present a highly competitive trading environment with nearly identical core trading conditions.

Available Markets

Available MarketsIC MarketsIG
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
1:5001:200
Maximum Pro Leverage:
1:5001:200

The asset selection at IG, including options and DMA share dealing, remains industry leading. Advanced traders and asset managers get a distinct competitive advantage amid the breadth of investment and trading choices. IC Markets maintains a well-balanced asset selection, with the bulk consisting of 1,650+ equity CFDs and 61 currency pairs.

Typical Spreads and Fees

Typical Spreads & FeesIC MarketsIG
Minimum Raw Spreads:
0.0 pipsNot applicable
Minimum Standard Spreads:
0.6 pips0.6 pips
Minimum Commission for Forex:
$6.00 per round lotCommission-free
Commission for CFDs/DMA:
$0.04 per round lot (US)0.10% or $0.02 per side
Commission Rebates:
NoYes
Execution Type:
Market Maker/ECNMarket Maker/ECN

IG has one of the most competitive commission-free Forex pricing environments, while IC Markets counters with a low-cost commission-based alternative. Trading costs for MT4 traders are moderately cheaper at IG, and both brokers maintain reasonably low equity CFD trading costs.

Security and Trust

IC Markets

Country of the RegulatorName of the RegulatorLicense Number
Australia
Australian Securities & Investments CommissionAFSL No. 335692
Seychelles
Financial Services AuthorityLicense Number SD018
Bahamas
Securities Commission of The BahamasLicense Number SIA-F214
Cyprus
Cyprus Securities and Exchange CommissionLicense Number 362/18

IG

Country of the RegulatorName of the RegulatorLicense Number
UK
Financial Conduct AuthorityFCA Reference Number 195355
Cyprus
Cyprus Securities and Exchange CommissionLicense Number 378/19
Germany
Federal Financial Supervisory AuthorityBaFin ID Number 10148759
Switzerland
Swiss Financial Market Supervisory AuthorityConfirmed, but no regulatory license number
Dubai
Dubai Financial Services AuthorityDFSA Reference Number F001780
South Africa
Financial Sector Conduct AuthorityFSP Number 41393
Singapore
Monetary Authority of SingaporeConfirmed, but no regulatory license number
Japan
Japanese Financial Services AgencyUnconfirmed
Australia
Australian Securities & Investments CommissionAFSL Number 220440, AFSL Number 515106
New Zealand
Financial Markets AuthorityFSP18923

Traders at both brokers get negative balance protection, and IC Markets and IG Markets segregate client deposits from corporate funds. Select jurisdictions have an investor compensation fund, and both maintain an exceptional regulatory record. IC Market and IG remain industry leaders from a security and trust perspective.

IC Markets vs IG – Verdict

IC Markets

ProsCons
Excellent choice of trading platforms consisting of MT4/MT5, and cTraderMinimum deposit slightly higher but within a reasonable range
Market-leading MT4 upgrade package, MAM/PAMM accounts, and VPS hosting
Social trading support via Myfxbook, MetaTrader Signals, and ZuluTrade
Leverage of up to 1:500, deep liquidity, and superb trade execution

IG

ProsCons
Excellent choice of trading platforms and superior asset selectionLimited deposit and withdrawal methods
Competitive trading costs with a volume-based cash rebate programHigher minimum deposit requirement, but within a reasonable demand
Outstanding trading environment for algorithmic trading, including API support
Comprehensive educational tools for beginner traders

The trading environment at IC Markets and IG is excellent, with many similarities in the core trading environment. Both brokers offer an upgraded MT4, but IG has more specialty platforms. Beginner traders get a quality educational offering at IC Markets and IG alike, complemented by a competent research section. IG takes a marginal lead due to its breadth of services and its competitive commission-free cost structure.

Read full IG Review

FAQs

Is IC Markets a good broker?

IC Markets ranks among the top brokers globally, with a trading environment tailored towards algorithmic traders. The asset selection, trade execution, and upgrades to the MT4 trading platform remain among the most competitive.

Is IG Markets any good?

IG Markets is an industry leader and maintains one of the most competitive trading environments.

Is IG an ECN or a market maker?

IG is a market maker.