Admirals vs IC Markets: Comparison and Analysis

Admirals vs IC Markets: A Comprehensive Comparison

When it comes to choosing a reliable broker, traders have a lot of options to choose from. Two popular brokers in the market are Admirals and IC Markets. In this comparison, we will look at the features, services, and fees of both brokers to help traders make an informed decision.

Security

Both Admirals and IC Markets are regulated by multiple financial authorities, including FCA, ASIC, and CySEC. Admirals has a slightly higher security rating of 94 compared to IC Markets’ 93, indicating a slightly higher level of security.

Demo Account

IC Markets offers unlimited demo accounts with virtual funds of up to $5 million. Admirals, on the other hand, offers demo accounts with virtual funds of $10,000, which can be restored by contacting customer support. While IC Markets’ unlimited demo account is appealing, Admirals’ demo account still provides enough virtual funds for traders to test their strategies and familiarise themselves with the platform.

Account Opening

Both brokers offer a range of account types, including standard, RAW spread, and professional accounts for advanced traders. IC Markets has a slight advantage with no minimum deposit in place, while Admirals requires a minimum deposit of $100. Admirals offers a wider range of base currencies, making it easier for traders to avoid currency conversion fees.

Payment methods are similar for both brokers, with options such as wire transfers, credit/debit cards, and eWallets. IC Markets also offers bitcoin deposits and several local payment methods, making it easier for traders in different regions to make deposits.

Social-Copy Trading

IC Markets allows traders to engage in copy trading through third-party platforms such as ZuluTrade. Admirals, on the other hand, offers a proprietary mobile platform for copy trading. Both brokers offer social-copy trading, but Admirals has a slight advantage with its proprietary platform.

Markets

IC Markets offers a wider range of markets, including 63 forex pairs, 21 commodities, 25 indices, 63 crypto assets, and over 1600 stocks. However, IC Markets only offers CFD trading, which is better suited for short-term investments. Admirals, on the other hand, offers a more balanced range of markets, including over 70 forex pairs, 15 commodities, 19 indices, 42 crypto assets, and over 3350 stocks, including 4500+ real stocks. Admirals offers both CFDs and real assets on stocks and ETFs, making it suitable for both short and long-term investments.

Trading Fees

Both brokers offer variable spreads, but IC Markets has an advantage with its lower spreads starting from 0 pip on forex. IC Markets also charges commissions per lot traded, with up to $7 per lot, while Admirals has variable spreads and charges from $0.02 per share for stocks commissions. Both brokers offer low fees, making them suitable for scalping.

Platforms

Both brokers offer a range of platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. Admirals also has a proprietary mobile app platform, which is an advantage for traders who prefer mobile trading. Both brokers allow traders to engage in algo trading and offer VPS services.

Education/Customer Care

Both brokers offer a wide range of educational material, including webinars, podcasts, tutorials, and seminars. Admirals has a slightly more extensive range of educational content, including detailed articles and a glossary of terms. Both brokers have excellent customer care, with multiple languages available for contact via phone, email, and live chat. Admirals offers customer care in over 25 languages, making it an advantage for non-English speaking traders.

Conclusion

In conclusion, both Admirals and IC Markets offer reliable trading services and have their own unique advantages. IC Markets offers a wider range of markets and has lower spreads, making it an excellent option for short-term investing and scalping. Admirals, on the other hand, offers a more balanced range of markets, including real assets on stocks and ETFs, making it suitable for both short and long-term investments. Admirals also has a proprietary mobile app platform for copy trading and offers a wider range of base currencies, making it an advantage for traders who prefer mobile trading and want to avoid currency conversion fees.

Ultimately, the choice between Admirals and IC Markets will depend on the trader’s preferences, trading style, and investment goals. Both brokers are regulated, offer low fees, and have excellent customer care and educational material, making them suitable for traders of all levels. Traders should carefully consider the features and services offered by both brokers before making a final decision.