FXOpen vs IC Markets Forex Broker Comparison
A head-to-head comparison of FXOpen and IC Markets across regulation, trading costs, platforms, and editorial scoring.
Triple-regulated ECN specialist (FCA, CySEC, ASIC) and early cTrader adopter with one of the lowest commission structures in retail ECN - $1.5 per side per lot - making it highly cost-effective for active traders.
VS
Score 4.7 / 5
4 bonusesTrue ECN routing with raw 0.0 pip spreads on majors plus commission, deep liquidity, and the cleanest MT4 / MT5 / cTrader stack we test.
Our Verdict
IC Markets winsby 0.5 pts
IC Markets edges ahead with a score of 4.7/5 vs FXOpen's 4.2/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
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 pips.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for platform choice
Recommended
IC Markets offers more exclusive platform options: TradingView.
Best for beginners
Recommended
IC Markets edges out FXOpen with a higher editorial score (4.7/5 vs 4.2/5), indicating a stronger overall experience for new traders.
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▲ |
Fees & Spreads 30% weight | 4.8 / 5 | 5.0 / 5▲ |
Platforms & Tools 20% weight | 4.4 / 5 | 4.6 / 5▲ |
Customer Support 10% weight | 4.0 / 5 | 4.5 / 5▲ |
| Founded | 2003 | 2007 |
| Headquarters | London, United Kingdom | Sydney, Australia |
| Min deposit | $100 | $200 |
| Spreads from | 0 pips | 0 pips |
| Commission / lot | $3/lot | $7/lot |
| Max leverage | 500:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA ASIC CySEC | FSCA ASIC CySEC |
| Platforms | MetaTrader 4 MetaTrader 5 cTrader | MetaTrader 4 MetaTrader 5 cTrader TradingView |
| Active bonuses | ||
| Visit broker | Visit FXOpen | Visit IC Markets |
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
Negative balance protection
Investor compensation scheme coverage
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Multilingual customer support
Pros
True ECN routing with raw 0.0 pip spreads
All three major platforms (MT4, MT5, cTrader)
Deep liquidity from 25+ tier-1 sources
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
$100 minimum deposit on ECN accounts
Less brand recognition than larger competitors
Customer support coverage narrower than global tier-1 brokers
No proprietary platform
No phone support
Cons
Not available to US residents
Higher minimum deposit than IG/OANDA
No proprietary platform
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
Based on our independent editorial scoring, IC Markets ranks higher with a score of 4.7/5 vs 4.2/5 for FXOpen. The best choice still depends on your individual trading needs; FXOpen and IC Markets may each suit different trader profiles.
Both FXOpen and IC Markets offer spreads starting from 0 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
FXOpen has a lower minimum deposit of $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. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: FXOpen has a lower minimum deposit ($100), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
FXOpen offers maximum leverage of 500:1, while IC Markets offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
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 MetaTrader 4, MetaTrader 5, cTrader and IC Markets offers MetaTrader 4, MetaTrader 5, cTrader, TradingView; both support MetaTrader 4, MetaTrader 5, cTrader; IC Markets exclusively offers TradingView.
Ready to get started?
Open an account directly with the broker that suits you best.
Score 4.2 / 5
More Broker Comparisons
More FXOpen comparisons
Personalised recommendation
Not sure which broker is right for you?
Answer 6 quick questions and we'll match you with the brokers that best fit your trading style, experience level, and country.
Find my broker