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IC Markets vs OctaFX: Comparison and Analysis

Trying to figure out whether to use IC Markets or OctaFX? This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs.

We’ve compared more than 100 variables and features so you can see the pros and cons of IC Markets and OctaFX side by side. We’ve divided the comparisons into a logical structure so it’s easy to navigate.

Scroll the whole post below, or use the quick menu to jump to the relevant section.

Open Account
74-89% of retail CFD accounts lose money
IC Markets review
Open Account
74-89% of retail CFD accounts lose money
OctaFX review

Overall Ratings


Rated
91
Rated
78

General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.

  • IC Markets
  • OctaFX

Security 93
Security 94

Cost 85
Cost 73

Trading 100
Trading 69

Education 66
Education 59

Company Info


Foundation
2007
2011
Is it Regulated?
Is it Publicly Traded?
Is it a Bank?
Segregated Clients Funds ?
No-ESMA Branches? ?
Accepts EU Clients?
Accepts US Clients?
Accepts Canadian Clients?
Website Languages
en, ar, bul, chi(t/s), cro, cz, de, es, fr, po, ru, thai, ko, ind, viet, mal, it
en, de, es, po, thai, ind, viet, mal, ur, ben, chi

Leverage


Non-EU Leverage ?
500:1
500:1
European Leverage ?
30:1
30:1
Australian Leverage ?
30:1
500:1
US Leverage ?
0
0
Canadian Leverage ?
0
500:1

Tier 1 Regulation


FSA ?
MAS ?
FINMA ?
FCA ?
CFTC ?
MIFID-ESMA ?
ASIC ?
CIRO ?
SFC ?

Tier 2 Regulation


FMA ?
CBR ?
FSCA ?
SEC ?
DFSA ?
CBRC ?
CySEC ?
ISA ?

Tier 3 Regulation


Offshore ?
MMA (Maldives) ?
EDR ?
FSA (Seychelles) ?
SCB (Bahamas) ?
FSC (Mauritius) ?
VFSC (Vanuatu) ?
IFSC (Belize) ?
CIMA (Cayman Islands) ?
SVG (Saint Vincent and the Grenadines) ?
FSRC (St. Kitts & Nevis) ?
BMA (Bermuda) ?
BVI (British Virgin Islands) ?

Brand Power


SimilarWeb - Website Ranking
19551
96312
SimilarWeb - Total Visits
117889
543160
Facebook Likes
54458
403988
Twitter Likes
3276
3065
Instagram Likes
14397
12400

Deposit and Withdrawal


Minimum Deposit ?
100 USD
5 USD
Minimum Withdraw ?
Credit Card ?
Bank Transfer ?
PayPal
Neteller
Skrill
Other Methods Available ?
Bpay, Broker to Broker, FasaPay, Klarna, POLi, RapidPay, THAI Internet Banking, UnionPay, Vietnamese Internet Banking, Bitcoin Wallet
CashU
Deposit Waiting Time ?
instant
1-3 business days
Withdraw Waiting Time ?
1 business day
1-3 business days
Bonus Program ?

Costs and Fees


Deposit Fees ?
Withdrawal Commissions ?
Overnight/Swap Fee ?
Inactivity Fee ?
Conversion Fee ?

Account Types


Demo Account ?
Demo Account Expiration ?
Account Currencies ?
AUD, EUR, GBP, USD, CAD, CHF, HKD, JPY, NZD, SGD
EUR, USD
Standard Account ?
Micro Account ?
Low-cost Account ?
Variable Spread Account ?
Fixed Spread Account ?
Zero Spread Account ?
ECN Account ?
Swap Free Account ?
Islamic Account ?
Professional Traders Account ?
Active Trader Program ?

Commodities


Crude Oil ?
0.010
Natural Gas ?
0.001
Silver ?
0.065
Platinum ?
Copper ?
Soybeans ?
1.35
Corn ?
0.6
Gold ?
9.4

Forex Fixed Spreads


EUR/GBP Spread
EUR/USD Spread
1.1
USD/JPY Spread
0.9
GBP/USD Spread
1.6
USD/CHF Spread
1.2
AUD/USD Spread
USD/CAD Spread
NZD/USD Spread

Forex Variable Spreads


EUR/USD Average Spread
0.1
0.5
USD/JPY Average Spread
0.2
0.5
USD/CHF Average Spread
0.5
0.7
GBP/USD Average Spread
0.4
0.6
USD/CAD Average Spread
0.5
0.8
AUD/USD Average Spread
0.2
0.7
NZD/USD Average Spread
0.4
1.5
EUR/GBP Average Spread
0.4
0.9

Fees on Stocks


Apple
Facebook
Alphabet
Snapchat
BP
Tesco
Barclays
Lloyds

Fees on Indices


FTSE100
1.0
S&P500
0.6
Dow Jones
Nasdaq
CAC40
1.0
DAX30
0.950
Nikkei 225
6.0
Euro Stoxx 50

Fees on Cryptocurrencies


Bitcoin
1
1
Ethereum
4.0
2.0
Ripple
0.015
0
Litecoin
3.0
0.66
Bitcoin Cash
5.0
0
Dash
4.0
0
Monero
0
0
Neo
0
0

Platforms


cTrader Desktop
cTrader Web
Mirror Trader
ZuluTrade ?
MT4 Dekstop
MT4 Web
MT5 Desktop
MT5 Web
Proprietary Desktop Platform
Proprietary Web Platform
MAC Platforms
Sirix

Mobile Trading


Android ?
iOS ?
Windows ?
Trading Signals on Mobile ?
Smart Watch App ?
Forex Trading ?
CFD Trading ?
Alerts ?
Chartings-Drawing Tools ?
Mobile Available Language ?
en, dan, de, ne, pol, afrk, chi
en, ar, es, fr, gre, pol, srb
Watchlist Mobile ?

Available Markets


Forex Pairs ?
63
28
Crypto ?
63
28
Commodities ?
21
2
Stocks ?
1650
Indices ?
25
10
ETF ?
Futures ?
4
Options ?
Bonds ?
7
Metal ?
7
2
Agricultural ?
6
Energies ?
5
2
Interest Rates ?
Penny Stocks ?
IPO ?
Blends ?
Dow Jones ?
FTSE ?
Dax ?
Nikkei ?
Gold Market ?
Bitcoin ?
Real Assets ?

Trading Execution


Direct Market Access (DMA) ?
Straigh Through Processing (STP) ?
Electronic Communication Network (ECN) ?
Market Maker ?
Non Dealing Desk (NDD) ?
FIFO Applies? ?
4 Digits Decimal Pricing ?
5 Digits Decimal Pricing ?

Risk Management


Stop Losses ?
Take Profits ?
Limit Orders ?
Trailing Stop ?
Margin Call ?
OCO Orders ?
Guaranteed Stop Loss ?
Negative Balance Protection ?
Minimum Trade Size ?
0.01 lots
0.001 lots
Maximum Trade Size ?
100 lots
100 lots

Special Trading Conditions


MAM ?
PAMM ?
Social Trading ?
Copy Trading ?
LAMM ?

Available Trading Techniques


Scalping ?
Hedging ?
Spread Betting ?
Expert Advisor (EA) ?
Virtual Private Server ?
API ?

Trading Tools


One-Click Trading ?
Signal Trading ?
Price Alerts ?
Number Chart Indicators ?
51
51
Number Chart Drawing Tools ?
31
31
Trade Directly From Chart ?
Watchlist ?

Education


Education Center ?
Webinars
Platform Tutorial Video ?
Video on Trading for Beginners ?
Video on Trading for Experts ?
Tutorial Guide
Glossary

Customer Support


Call Back Request ?
Email Support
Phone Support
Live Chat
Support Language Available
en, ar, bul, chi(t/s), cro, cz, de, es, fr, po, ru, thai, ko, ind, viet, mal, it
en, de, es, po, thai, ind, viet, mal, ur, ben, chi

Research


Professional Reports
Social Trading Features - Social Feeds ?
Economic Calendar
Daily Email With Trading Ideas
Analysis From Trading Central (Recognia)
Analysis From Delkos Research
AutoChartist
Traders Sentiment ?
News via Twitter
News via FaceBook
Daily Market Commentary

IC Markets vs OctaFX: A Comprehensive Comparison Summary

Choosing the right broker can be a daunting task for traders, as there are numerous options available in the market. In this comparison summary, we will explore and compare two popular brokers – IC Markets and OctaFX – based on their security, demo accounts, account opening, social-copy trading, markets, trading fees, platforms, and customer care.

Security

Both IC Markets and OctaFX are regulated brokers, with IC Markets being regulated by CySEC, ASIC, FSA, and SCB, and OctaFX being regulated by CySEC and SVG. In terms of security rating, OctaFX scores slightly higher than IC Markets, with a rating of 94 compared to IC Markets’ rating of 93.

Demo Accounts

Both brokers offer unlimited demo accounts. IC Markets allows traders to choose the amount of virtual funds they want (up to $5,000,000), and the virtual funds can be restored by contacting customer support. On the other hand, OctaFX offers a fixed virtual fund amount of $5000, but traders can top up the virtual balance anytime they want.

Account Opening

IC Markets has no minimum deposit requirement, although the broker suggests a minimum deposit of $200. The broker offers over 10 base currencies, including USD, EUR, AUD, and GBP, and accepts various payment methods such as wire transfers, credit/debit cards, eWallets, bitcoin deposits, and several local payment methods. IC Markets offers Standard, RAW Spread, and Professional accounts for advanced traders.

OctaFX requires a minimum deposit of $50 and offers only two account currencies (EUR and USD). The broker accepts wire transfers, credit/debit cards, and eWallets. OctaFX offers MT4, MT5, Octatrader, and Islamic accounts.

Social-Copy Trading

Both brokers offer social-copy trading features. IC Markets allows traders to engage in copy trading through third-party platforms such as ZuluTrade, while OctaFX has its own copy trading app.

Markets

IC Markets offers a wider range of markets than OctaFX, with 63 forex pairs, 21 commodities, 25 indices, 63 crypto assets, and 1600+ stocks. IC Markets also offers futures and options trading. On the other hand, OctaFX offers 35 forex pairs, 5 commodities, 10 indices, 30 crypto assets, and 150+ stocks.

Trading Fees

IC Markets’ spreads are variable, starting from 0 pip on forex, and the broker charges up to $7 per lot traded. IC Markets also charges variable spreads on stocks. On the other hand, OctaFX has variable spreads starting from 0.8 pips on forex, which is lower than the market average. The broker does not charge any commission per lot traded, and it has a lower spread on commodities than IC Markets.

Platforms

IC Markets offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms, all of which allow traders to engage in algo trading. IC Markets also offers VPS services. On the other hand, OctaFX offers its proprietary platform available via web and mobile, as well as MT4 and MT5 platforms.

Education/Customer Care

Both brokers provide a range of educational materials, including webinars, podcasts, forex articles, video courses, platform video tutorials, glossary, and FAQs. IC Markets has customer support available in over 18 languages and can be contacted via email and live chat. OctaFX can also be contacted via email and live chat.

Conclusion

Both IC Markets and OctaFX are reputable brokers with strong security and regulatory frameworks. IC Markets offers a wider range of markets, a range of account types, low spreads, and commission-based trading. It also offers VPS services and allows traders to engage in algo trading. On the other hand, OctaFX has lower minimum deposit requirements, a proprietary platform, and a copy trading app.

In summary, traders looking for a wider range of markets, more account options, and commission-based trading may prefer IC Markets. On the other hand, traders who prioritise a lower minimum deposit requirement, a proprietary platform, and a copy trading app may prefer OctaFX. It’s important to note that the ultimate decision should depend on the individual trader’s needs and preferences.