FXOpenvs
IC MarketsForex Broker Comparison
FXOpen and IC Markets compete on regulation, cost, and platform breadth. The pair diverge on minimum deposits, instrument variety, and phone support, shaping which suits different traders.
Our Verdict
IC Markets winsby 0.5 pts
IC Markets edges FXOpen on the higher editorial score (4.7 vs 4.2) and offers true ECN pricing.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1Minimum deposit: FXOpen $100 vs IC Markets $200.
- 2Instruments: FXOpen 700 vs IC Markets 2,200.
- 3ECN commission: FXOpen $3/lot vs IC Markets $7/lot.
Who should choose FXOpen vs IC Markets?
Find out which broker best suits your trader profile.
Choose FXOpen if…
Choose FXOpen if you prioritize triple regulation and low ECN commissions.
Choose IC Markets if…
Choose IC Markets if you want true ECN routing with 0.0 pip spreads and phone support.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
It’s a tie
Both equally suited
Both brokers offer spreads from 0.00 pips.
Best for safety & regulation
It’s a tie
Both equally suited
FXOpen vs IC Markets: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.2/ 5 | 4.7/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.5 / 5 | 4.6 / 5▲ |
FXOpen vs IC Markets Forex Broker Pros & Cons
Pros
FCA, CySEC, and ASIC triple regulation
$3 round-turn ECN commission, one of the lowest in retail forex
Early cTrader adopter with mature integration
MT4, MT5, and cTrader all available
Client funds held in segregated accounts
FXOpen vs IC Markets: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
0
FXOpen
criteria wins
1
IC Markets
criteria win
Highlighted rows show where the two brokers differ
| Criteria | FXOpen | IC Markets |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Fail | Pass |
| Multilingual support | Pass | Pass |
FXOpen vs IC Markets: Frequently Asked Questions
IC Markets rates 4.7/5 versus 4.2/5 for FXOpen. IC Markets edges ahead on our composite score, though both brokers meet a reasonable standard for most traders.
Both FXOpen and IC Markets start from 0 pips, making them equivalent on this metric. Compare commissions and account types to evaluate total trading costs.
FXOpen has $100, while IC Markets requires at least $200. This makes FXOpen more accessible for traders with limited starting capital.
Both FXOpen and IC Markets hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: FXOpen requires a lower minimum deposit ($100), lowering the barrier to entry, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
FXOpen lists maximum leverage of 500:1, while IC Markets lists up to 500:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
FXOpen charges $3 per lot, lower than IC Markets's $7 per lot. Lower commissions benefit active traders who execute many trades per day.
FXOpen supports cTrader, MetaTrader 5, MetaTrader 4, while IC Markets supports cTrader, MetaTrader 5, TradingView, MetaTrader 4. Both provide cTrader and MetaTrader 5 and MetaTrader 4. IC Markets has exclusive access to TradingView.
