FBS vs IC Markets: Comparison and Analysis

FBS vs IC Markets: A Comprehensive Comparison

When it comes to choosing a broker, traders look for the one that best suits their needs. In this comparison, we will take a look at two popular brokers, FBS and IC Markets, and examine their features, advantages, and drawbacks.

Security

Both FBS and IC Markets are regulated brokers, with FBS being regulated by IFSC and CySEC and IC Markets by CySEC, ASIC, FSA, and SCB. Both brokers have high-security ratings, with FBS scoring 93 and IC Markets scoring the same. Traders can be assured that their funds are safe and secure with both brokers.

Demo Accounts

FBS offers a demo account that lasts for 90 days, while IC Markets offers an unlimited duration demo account. Both brokers allow traders to choose the amount of virtual funds they wish to trade with. FBS demo accounts can be restored by contacting customer support, while IC Markets demo accounts can be reset by the trader themselves.

Account Opening

FBS requires a minimum deposit of $1, while IC Markets does not have a minimum deposit requirement, although they recommend a minimum deposit of $200. FBS offers only three account currencies, while IC Markets offers over 10, making it easier for traders to avoid currency conversion fees. FBS offers several account types, including Standard, Cent, Micro, Zero Spread, Ultra, Crypto, ECN, Islamic, and CopyTrading accounts. IC Markets, on the other hand, offers Standard, RAW Spread, and Professional accounts.

Social/Copy Trading

FBS offers a dedicated copy trading account called FBS Copy Trading, while IC Markets allows traders to engage in copy trading through third-party platforms such as ZuluTrade.

Markets

FBS offers 37 forex pairs, 4 commodities, 4 indices, 37 crypto assets, and 30+ stocks. IC Markets offers 63 forex pairs, 21 commodities, 25 indices, 63 crypto assets, and 1600+ stocks. Both brokers offer CFD trading only, making them more suitable for short-term trading rather than long-term investments. IC Markets also offers futures and options trading, which FBS does not.

Trading Fees

FBS offers variable and fixed spreads, with spreads starting from 0.0 pips on forex, depending on the account type chosen. The fixed spreads on FBS micro accounts start from 3 pips. The commission per lot for the ECN account is $6. IC Markets offers variable spreads starting from 0 pips on forex, with commissions per lot up to $7 for certain accounts. IC Markets charges variable spreads on stocks, while FBS does not offer trading in stocks.

Platforms

FBS offers its proprietary platform called FBS Trader, as well as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), available on desktop, webtrader, and mobile devices. IC Markets offers MT4, MT5, and cTrader, all available on desktop, webtrader, and mobile devices. IC Markets also offers VPS services, allowing traders to engage in algo trading.

Education/Customer Care

FBS provides clients access to webinars, video tutorials, educational articles, and market analysis. Customer care is available via email, phone, and live chat, with 18 languages available. IC Markets offers a wide range of educational material, including webinars and podcasts. Customer care is available via email and live chat, with over 18 languages available.

Conclusion

Both FBS and IC Markets are reputable brokers, offering a range of features and advantages. FBS has a lower minimum deposit requirement and offers more account types, while IC Markets offers a wider range of markets and no minimum deposit requirement. When it comes to trading fees, both brokers offer competitive pricing, but IC Markets has lower spreads and commissions on certain accounts. Both brokers offer multiple trading platforms and educational resources, but FBS has its own proprietary platform while IC Markets offers VPS services.