IC Markets
Kraken
IC Markets vs Kraken
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
IC Markets and Kraken are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. IC Markets, founded in 2007 and headquartered in Sydney, Australia, is regulated by ASIC, CySEC, FSA and offers spreads starting from 0.0 pips with a minimum deposit of $200. Kraken, established in 2011 in San Francisco, USA, holds licenses from FCA (UK), FinCEN (USA), AUSTRAC (AUS), MAS (SG) with spreads from 0.1% and a $0 minimum deposit. In our hands-on testing across 8 scoring categories, IC Markets scored 8.8/10 overall compared to Kraken's 8.3/10, making it the stronger pick for most traders. That said, Kraken holds its own with superior education resources and more research tools, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
IC Markets scores 8.8/10 overall vs 8.3/10 for Kraken — a 0.5-point difference.
- 💵
Kraken requires just $0 to start, while IC Markets needs $200 — Kraken is 200x more accessible.
- 🛡️
IC Markets holds Tier 1 regulation (ASIC, CySEC, FSA) offering stronger investor protection than Kraken's Unrated status.
- 📈
IC Markets offers 2,200+ instruments vs 250+ at Kraken — a massive gap in market coverage.
- 🖥️
IC Markets runs on MT4, MT5, cTrader, while Kraken uses Kraken Platform, Kraken Pro, Kraken App — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Trading Costs: IC Markets scores 9.5 vs 8.0 for Kraken — a 1.5-point difference.
Our Verdict
IC Markets
Score: 8.8/10 · Wins 5 categories- You want lower spreads and trading fees
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
Kraken
Score: 8.3/10 · Wins 2 categories- You're a beginner who values learning resources
- You rely on in-depth research and analysis tools
- You prefer a low minimum deposit ($0)
IC Markets takes the lead with an overall score of 8.8/10 compared to 8.3/10, winning in 5 out of 8 scoring categories. IC Markets stands out for lower trading costs and better trading platforms, while Kraken fights back with superior education resources and more research tools.
Detailed Verdict
After testing both brokers with real accounts, IC Markets comes out ahead with a 8.8/10 overall rating, winning 5 out of 8 categories. Its strongest area is Trading Costs where it scores 9.5/10. IC Markets holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. Kraken is not without merit — it scores 8.3/10 overall and excels in Platforms & Tools (8.5/10), winning 2 categories. Traders who value superior education resources or more research tools may find Kraken the better fit. For a complete breakdown, read our full IC Markets review and Kraken review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
IC Markets wins by 1.5 points
IC Markets wins by 0.5 points
IC Markets wins by 0.5 points
Kraken wins by 0.5 points
IC Markets wins by 0.5 points
Kraken wins by 0.5 points
IC Markets wins by 0.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 8.8/10 ✓ | 8.3/10 |
| Min Deposit Lower is better | $200 | $0 ✓ |
| Max Leverage | 1:500 | 1:5 |
| Spreads From | 0.0 pips | 0.1% |
| Platforms | MT4, MT5, cTrader | Kraken Platform, Kraken Pro, Kraken App |
| Regulation | ASIC, CySEC, FSA | FCA (UK), FinCEN (USA), AUSTRAC (AUS), MAS (SG) |
| Founded Older track record highlighted | 2007 ✓ | 2011 |
| Markets | 2,200+ ✓ | 250+ |
Fees & Costs
When it comes to trading costs, IC Markets has the edge with a score of 9.5/10 versus 8/10 for Kraken. IC Markets offers spreads starting from 0.0 pips, while Kraken starts from 0.1%. The minimum deposit at IC Markets is $200, compared to $0 at Kraken. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
IC Markets scores 9/10 for platforms compared to 8.5/10 for Kraken. IC Markets provides MT4, MT5, cTrader, while Kraken offers Kraken Platform, Kraken Pro, Kraken App. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. IC Markets is regulated by ASIC, CySEC, FSA (Tier 1), while Kraken holds licenses from FCA (UK), FinCEN (USA), AUSTRAC (AUS), MAS (SG) (Unrated). IC Markets scores 9/10 and Kraken scores 8.5/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, Kraken leads with 7.5/10 compared to 7/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. IC Markets and Kraken both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
IC Markets offers 24/7 Live Chat, Email, Phone and scores 8/10, while Kraken provides 24/7 Live Chat, Email with a score of 7.5/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
IC Markets scores 8.5/10 for deposits and withdrawals, while Kraken scores 8/10. IC Markets accepts Bank Transfer, Credit Card, PayPal, Skrill, Neteller, UnionPay, and Kraken supports Bank Transfer, Credit Card, Debit Card, Wire Transfer, Crypto Deposits. Processing times, fees, and available currencies vary. IC Markets requires a minimum deposit of $200 versus $0 for Kraken. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose IC Markets if you...
- You want lower spreads and trading fees
- You need advanced trading platforms and tools
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
Choose Kraken if you...
- You're a beginner who values learning resources
- You rely on in-depth research and analysis tools
- You prefer a low minimum deposit ($0)
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is IC Markets better than Kraken?
IC Markets scores higher overall (8.8/10 vs 8.3/10), winning 5 of 8 categories. However, Kraken is stronger in superior education resources and more research tools. The best choice depends on what matters most to your trading style.
Which has lower fees, IC Markets or Kraken?
IC Markets scores higher for trading costs. IC Markets offers spreads from 0.0 pips with a $200 minimum deposit, while Kraken starts from 0.1% with $0 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is IC Markets safe to trade with?
IC Markets is regulated by ASIC, CySEC, FSA and scores 9/10 for regulation. Kraken is regulated by FCA (UK), FinCEN (USA), AUSTRAC (AUS), MAS (SG) with a score of 8.5/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, IC Markets or Kraken?
IC Markets scores 9/10 for platforms. IC Markets offers MT4, MT5, cTrader, while Kraken provides Kraken Platform, Kraken Pro, Kraken App. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for IC Markets vs Kraken?
IC Markets requires a minimum deposit of $200, while Kraken requires $0. Kraken has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.