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
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- IC Markets vs. IG - Verdict
Features and Platforms
| Features & Platforms | IC Markets (visit site) | IG (visit site) |
 |  | |
| Headquarter: | Australia | UK |
Established : | 2010 | 1974 |
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-Party | Third-Party |
Funding Methods: | 15 | 4 |
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 execution | MT4 plugins + Autochartist |
Broker Offers: |
Noteworthy:
Both brokers present a highly competitive trading environment with nearly identical core trading conditions.
Available Markets
| Available Markets | IC Markets | IG |
| Currency Pairs: | ||
Cryptocurrency Pairs: | ||
Commodities and Metals: | ||
Indices: | ||
Equities: | ||
Bonds: | ||
ETFs: | ||
Options, Futures, and Synthetics: | ||
Maximum Retail Leverage: | 1:500 | 1:200 |
Maximum Pro Leverage: | 1:500 | 1:200 |
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 & Fees | IC Markets | IG |
Minimum Raw Spreads: | 0.0 pips | Not applicable |
Minimum Standard Spreads: | 0.6 pips | 0.6 pips |
Minimum Commission for Forex: | $6.00 per round lot | Commission-free |
Commission for CFDs/DMA: | $0.04 per round lot (US) | 0.10% or $0.02 per side |
Commission Rebates: | No | Yes |
Execution Type: | Market Maker/ECN | Market 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 Regulator | Name of the Regulator | License Number |
Australia | Australian Securities & Investments Commission | AFSL No. 335692 |
Seychelles | Financial Services Authority | License Number SD018 |
Bahamas | Securities Commission of The Bahamas | License Number SIA-F214 |
Cyprus | Cyprus Securities and Exchange Commission | License Number 362/18 |
IG
| Country of the Regulator | Name of the Regulator | License Number |
UK | Financial Conduct Authority | FCA Reference Number 195355 |
Cyprus | Cyprus Securities and Exchange Commission | License Number 378/19 |
Germany | Federal Financial Supervisory Authority | BaFin ID Number 10148759 |
Switzerland | Swiss Financial Market Supervisory Authority | Confirmed, but no regulatory license number |
Dubai | Dubai Financial Services Authority | DFSA Reference Number F001780 |
South Africa | Financial Sector Conduct Authority | FSP Number 41393 |
Singapore | Monetary Authority of Singapore | Confirmed, but no regulatory license number |
Japan | Japanese Financial Services Agency | Unconfirmed |
Australia | Australian Securities & Investments Commission | AFSL Number 220440, AFSL Number 515106 |
New Zealand | Financial Markets Authority | FSP18923 |
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
| Pros | Cons |
| Excellent choice of trading platforms consisting of MT4/MT5, and cTrader | Minimum 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
| Pros | Cons |
| Excellent choice of trading platforms and superior asset selection | Limited deposit and withdrawal methods |
| Competitive trading costs with a volume-based cash rebate program | Higher 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.
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.