AvaTrade vs IC Markets: Comparison and Analysis

AvaTrade vs IC Markets: A Comparison Summary

When it comes to choosing a broker, security and regulations should be the first things to consider. Both AvaTrade and IC Markets hold multiple licences from reputable regulatory bodies. However, AvaTrade has a slightly higher security rating of 94 compared to IC Markets’ rating of 93.

Demo Accounts:

AvaTrade offers a 21-day demo account with $10,000 in virtual funds that can be restored by contacting customer support. On the other hand, IC Markets offers an unlimited demo account with customizable virtual funds of up to $5,000,000 that can be restored through customer support.

Account Opening:

AvaTrade requires a minimum deposit of $100 with a range of account types, including Standard, Spread Betting, Islamic, and Professional. Meanwhile, IC Markets does not have a minimum deposit requirement but suggests $200 as a minimum amount. They offer three types of accounts: Standard, RAW Spread, and Professional.

Social-Copy Trading:

Both brokers offer social-copy trading via third-party platforms such as ZuluTrade, but AvaTrade also has a proprietary platform called AvaSocial.

Markets:

AvaTrade offers a diverse range of markets with 53 forex pairs, 19 commodities, 31 indices, 20 crypto assets, 610+ stocks, 60+ ETFs, and 54+ futures and options. In contrast, IC Markets offers 63 forex pairs, 21 commodities, 25 indices, 63 crypto assets, 1600+ stocks, and 4 futures and options. However, IC Markets does not offer any ETFs.

Trading Fees:

AvaTrade charges fixed spreads that start from 0.9 pips on forex, which is higher than the market average. On the other hand, IC Markets’ spreads are variable and start from 0 pips on forex, which is lower than the market average. IC Markets also charges up to $7 per lot traded in commissions, whereas AvaTrade does not charge commissions.

Platforms:

AvaTrade offers a range of platforms, including a proprietary platform, AvaTradeGO mobile app, AvaOptions for trading options, and MetaTrader 4 and 5. IC Markets offers MetaTrader 4 and 5, cTrader, and VPS services. Both brokers allow algo trading.

Education/Customer Care:

AvaTrade offers strong educational material for beginner traders and in-depth webinars for professional traders. They also have customer support available in over 25 languages. IC Markets offers a wide range of educational material, including webinars and podcasts, and customer support available in over 18 languages.

Conclusion:

AvaTrade and IC Markets are both reputable brokers with strong security measures and multiple regulatory licenses. However, they differ in their demo account offerings, minimum deposit requirements, range of markets, trading fees, and platforms. AvaTrade is more suitable for short-term investors, while IC Markets is better for scalping. Overall, it is important to choose a broker that suits your trading style and preferences.