IC Markets vs IG Markets Broker Comparison

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.

Headquarters
AustraliaUnited Kingdom
Regulators
ASIC, CySEC, FSAFCA
Tier 1 Regulator(s)?
Owned by Public Company?
Year Established
20101974
Execution Type(s)
ECN/STPMarket Maker
Minimum Deposit
$200300€
Negative Balance Protection
N/A
Trading Platform(s)
MetaTrader 4, MetaTrader 5, cTraderMetaTrader 4, Proprietary platform
Average Trading Cost EUR/USD
0.0 pips ($0.00)0.9 pips
Average Trading Cost GBP/USD
0.0 pips ($0.00)1.4 pip
Average Trading Cost WTI Crude Oil
$0.03$0.03
Average Trading Cost Gold
$0.05$0.30
Retail Loss Rate
N/AUndisclosed
Minimum Raw Spreads
N/ANot applicable
Minimum Standard Spreads
N/A0.8 pips
Minimum Commission for Forex
N/ACommission-free
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
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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
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Noteworthy:

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

Available Markets

Currency Pairs
Cryptocurrencies
Commodities
Crude Oil
Gold
Metals
Equity Indices
Stocks (non-CFDs)
Bonds
ETFs
Options
N/A
Futures
Synthetics
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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

Average Trading Cost EUR/USD
0.0 pips ($0.00)0.9 pips
Average Trading Cost GBP/USD
0.0 pips ($0.00)1.4 pip
Average Trading Cost WTI Crude Oil
$0.03$0.03
Average Trading Cost Gold
$0.05$0.30
Average Trading Cost Bitcoin
$12.47$90
Minimum Raw Spreads
N/ANot applicable
Minimum Standard Spreads
N/A0.8 pips
Minimum Commission for Forex
N/ACommission-free
Deposit Fee
N/A
Withdrawal Fee
N/A
Inactivity Fee
N/A$12 per month after 24 months
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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

Country of the Regulator
Australia, The Bahamas, Cyprus, SeychellesAustralia, Bermuda, Switzerland, Cyprus, Germany, Japan, New Zealand, Singapore, United States
Name of the Regulator
ASIC, CySEC, FSAFCA
Regulatory License Number
335692, SD018, SIA-F214, 362/18195355, 378/19, 10148759, confirmed, but no regulaary license number, F001780, 41393, 1489, unconfirmed, 220440, 18923, 0509630, 54814
Regulatory Tier
1, 4, 4, 1N/A
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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.

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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.

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