Interactive Brokers
IC Markets
Interactive Brokers vs IC Markets
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
Interactive Brokers and IC Markets are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. Interactive Brokers, founded in 1978 and headquartered in Greenwich, USA, is regulated by SEC, FCA, ASIC, MAS, IIROC and offers spreads starting from 0.1 pips with a minimum deposit of $0. IC Markets, established in 2007 in Sydney, Australia, holds licenses from ASIC, CySEC, FSA with spreads from 0.0 pips and a $200 minimum deposit. In our hands-on testing across 8 scoring categories, Interactive Brokers scored 9.2/10 overall compared to IC Markets's 8.8/10, making it the stronger pick for most traders. That said, IC Markets holds its own with better trading platforms and better customer support, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
Interactive Brokers scores 9.2/10 overall vs 8.8/10 for IC Markets — a 0.4-point difference.
- 💵
Interactive Brokers requires just $0 to start, while IC Markets needs $200 — Interactive Brokers is 200x more accessible.
- 📈
Interactive Brokers offers 1,000,000+ instruments vs 2,200+ at IC Markets — a massive gap in market coverage.
- 🖥️
Interactive Brokers runs on TWS, IBKR Mobile, IBKR GlobalTrader, while IC Markets uses MT4, MT5, cTrader — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Research & Analysis: Interactive Brokers scores 9.5 vs 7.5 for IC Markets — a 2.0-point difference.
Our Verdict
Interactive Brokers
Score: 9.2/10 · Wins 4 categories- You're a beginner who values learning resources
- Top-tier regulation and fund safety are your priority
- You want access to a wider range of instruments
- You rely on in-depth research and analysis tools
IC Markets
Score: 8.8/10 · Wins 3 categories- You need advanced trading platforms and tools
- Responsive customer support matters to you
- Fast and flexible deposits & withdrawals are important
Interactive Brokers takes the lead with an overall score of 9.2/10 compared to 8.8/10, winning in 4 out of 8 scoring categories. Interactive Brokers stands out for stronger regulation and superior education resources, while IC Markets fights back with better trading platforms and better customer support.
Detailed Verdict
After testing both brokers with real accounts, Interactive Brokers comes out ahead with a 9.2/10 overall rating, winning 4 out of 8 categories. Its strongest area is Regulation & Trust where it scores 10.0/10. Interactive Brokers holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. IC Markets is not without merit — it scores 8.8/10 overall and excels in Trading Costs (9.5/10), winning 3 categories. Traders who value better trading platforms or better customer support may find IC Markets the better fit. For a complete breakdown, read our full Interactive Brokers review and IC Markets review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
IC Markets wins by 0.5 points
Interactive Brokers wins by 1.0 points
Interactive Brokers wins by 1.0 points
IC Markets wins by 0.5 points
Interactive Brokers wins by 2.0 points
IC Markets wins by 0.5 points
Interactive Brokers wins by 1.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 9.2/10 ✓ | 8.8/10 |
| Min Deposit Lower is better | $0 ✓ | $200 |
| Max Leverage | 1:50 | 1:500 |
| Spreads From | 0.1 pips | 0.0 pips |
| Platforms | TWS, IBKR Mobile, IBKR GlobalTrader | MT4, MT5, cTrader |
| Regulation | SEC, FCA, ASIC, MAS, IIROC | ASIC, CySEC, FSA |
| Founded Older track record highlighted | 1978 ✓ | 2007 |
| Markets | 1,000,000+ ✓ | 2,200+ |
Fees & Costs
When it comes to trading costs, Interactive Brokers has the edge with a score of 9.5/10 versus 9.5/10 for IC Markets. Interactive Brokers offers spreads starting from 0.1 pips, while IC Markets starts from 0.0 pips. The minimum deposit at Interactive Brokers is $0, compared to $200 at IC Markets. 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 Interactive Brokers. Interactive Brokers provides TWS, IBKR Mobile, IBKR GlobalTrader, while IC Markets offers MT4, MT5, cTrader. 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. Interactive Brokers is regulated by SEC, FCA, ASIC, MAS, IIROC (Tier 1), while IC Markets holds licenses from ASIC, CySEC, FSA (Tier 1). Interactive Brokers scores 10/10 and IC Markets scores 9/10 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, Interactive Brokers leads with 8/10 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. Interactive Brokers and IC Markets 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
Interactive Brokers offers 24/6 Live Chat, Email, Phone and scores 7.5/10, while IC Markets provides 24/7 Live Chat, Email, Phone with a score of 8/10. 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
Interactive Brokers scores 8/10 for deposits and withdrawals, while IC Markets scores 8.5/10. Interactive Brokers accepts Bank Transfer, ACH, and IC Markets supports Bank Transfer, Credit Card, PayPal, Skrill, Neteller, UnionPay. Processing times, fees, and available currencies vary. Interactive Brokers requires a minimum deposit of $0 versus $200 for IC Markets. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose Interactive Brokers if you...
- You're a beginner who values learning resources
- Top-tier regulation and fund safety are your priority
- You want access to a wider range of instruments
- You rely on in-depth research and analysis tools
Choose IC Markets if you...
- You need advanced trading platforms and tools
- Responsive customer support matters to you
- Fast and flexible deposits & withdrawals are important
🗳️ Which Broker Do You Prefer?
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Frequently Asked Questions
Is Interactive Brokers better than IC Markets?
Interactive Brokers scores higher overall (9.2/10 vs 8.8/10), winning 4 of 8 categories. However, IC Markets is stronger in better trading platforms and better customer support. The best choice depends on what matters most to your trading style.
Which has lower fees, Interactive Brokers or IC Markets?
Interactive Brokers scores higher for trading costs. Interactive Brokers offers spreads from 0.1 pips with a $0 minimum deposit, while IC Markets starts from 0.0 pips with $200 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is Interactive Brokers safe to trade with?
Interactive Brokers is regulated by SEC, FCA, ASIC, MAS, IIROC and scores 10/10 for regulation. IC Markets is regulated by ASIC, CySEC, FSA with a score of 9/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, Interactive Brokers or IC Markets?
IC Markets scores 9/10 for platforms. Interactive Brokers offers TWS, IBKR Mobile, IBKR GlobalTrader, while IC Markets provides MT4, MT5, cTrader. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for Interactive Brokers vs IC Markets?
Interactive Brokers requires a minimum deposit of $0, while IC Markets requires $200. Interactive Brokers has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
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