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AvaTrade vs IC Markets Comparison – 2024
By:
Reviewed By:
Updated: Jul 29, 2024
AvaTrade
4.6
Trading CFDs and FX Options entail risk and could result in the loss of your capital.
VS
IC Markets
4.5
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Comparison Table
AvaTrade | IC Markets | |
|---|---|---|
Overall Rating | 4.6 | 4.5 |
Trust | 4.6 | 4.1 |
Fees | 4.3 | 4.6 |
Platforms and Tools | 4.6 | 4.4 |
Tradable Instruments | 4.5 | 4.7 |
Customer Support | 4.6 | 4.6 |
Research | 4.5 | 4.7 |
Deposit and Withdrawal | 4.9 | 4.9 |
Account Types and Terms | 4.9 | 4.9 |
Education | 4.9 | 4.4 |
Regulators & Max Leverage | 1:30 (FSCA), 1:30 (CBI), 1:30 (ADGM), 1:30 (ASIC), 1:1000 (BVI FSC), 1:20 (ISA), 1:25 (JFSA) | 1:30 (CySEC), 1:30 (ASIC), 1:500 (FSA) |
Foundation Year | 2006 | 2007 |
Fees Test | Medium | Low |
Tradable Instruments | 853 | 2245 |
Trading Platforms | AvaTradeGo, AvaOptions, AvaSocial, MT5, Proprietary, MT4, WebTrader, DupliTrade | MT5, cTrader, MT4, TradingView, Zulutrade |
Minimum Deposit | $100 | $200 |
Read Reviews |
Top Reasons to Choose AvaTrade or IC Markets
Based on our testing and assessment, AvaTrade is ideally suited to long-term position traders due to its low overnight swap fees and diverse range of markets. IC Markets, on the other hand, caters more to short-term and algorithmic, intermediate-to-advanced traders due to its fast execution speed and competitive pricing.
| AvaTrade Best for Long-Term Traders, Beginner Education & Copy Trading |
IC Markets Best for Short-Term & Algorithmic Traders |
| Low overnight swap fees | Low spreads and commission |
| Competitive spreads and commissions | Execution under 40 ms |
| Copy trading apps | Zero requotes |
| 840+ tradable instruments | MT4, MT5, cTrader, TradingView |
| Extensive educational materials | Additional tools for MT4 |
| Risk management tool AvaProtect | Research from Trading Central and Autochartist |
AvaTrade: Snapshot
Founded in 2006 and headquartered in Ireland, AvaTrade operates across seven global entities, three of which are licensed by Tier-1 regulators. Traders can access over 840 commission-free markets via MT4, MT5, AvaWebTrader, AvaTradeGO, AvaSocial, and AvaOptions trading platforms and apps. A comprehensive suite of educational resources includes courses, videos, and e-books.
AvaTrade: Who is it For?
AvaTrade caters well to beginners with a comprehensive suite of educational resources, commission-free trading accounts, and copy trading tools. Advanced traders can benefit from low overnight swap fees and a wide range of trading platforms that allow forex options trading.
What Makes AvaTrade Stand Out?
AvaTrade stands out as a broker that offers a diverse range of trading platforms suited to beginner and advanced traders, as well as those interested in copy trading and forex options trading.
| Recommended in 8 best broker guides: |
| Crypto | Regulated Brokers | MT5 | Social Trading | Trading Apps | Share CFD | Beginners | High Leverage |
IC Markets: Snapshot
Founded in 2007 in Sydney, Australia, IC Markets is licensed by three financial authorities, including two Tier-1 regulators. The broker offers over 2,250 tradable instruments through the MT4, MT5, TradingView, and cTrader platforms and ECN-trading accounts. It also provides extensive market research tools.
IC Markets: Who is it For?
IC Markets is well-suited for advanced short-term traders. It offers ECN-style pricing and fast trade execution in under 40 milliseconds. The broker implements a zero requote policy and imposes no minimum order distance restriction, making it an ideal choice for short-term traders and those using algorithmic strategies.
What Makes IC Markets Stand Out?
IC Markets stands out as a broker offering an extensive range of trading platforms, market research tools, and tradable instruments that all exceed the industry average.
| Recommended in 8 best broker guides: |
| Forex | CFD | Platforms | Low Spreads | Crypto | Regulated | MT5 | Automated Trading |
Trust
AvaTrade vs IC Markets Trust and Regulation Comparison
Trust Rank | 4.6 | 4.1 |
Regulators & Max Leverage | 1:30 (FSCA), 1:30 (CBI), 1:30 (ADGM), 1:30 (ASIC), 1:1000 (BVI FSC), 1:20 (ISA), 1:25 (JFSA) | 1:30 (CySEC), 1:30 (ASIC), 1:500 (FSA) |
Foundation Year | 2006 | 2007 |
Publicly Traded |
Founded in 2006, AvaTrade operates under seven global entities. Three of these are licensed by Tier-1 regulators: CBI (Ireland), ASIC (Australia), and JFSA (Japan). The other entities are regulated by Tier-2 authorities: FSCA (South Africa), ADGM (Abu Dhabi), and ISA (Israel), as well as a Tier-3 authority, FSC (B.V.I.). The Tier-1 regulated entities ensure the highest level of capital safety and transparency in trading conditions.
Established in 2007, IC Markets is regulated by Tier-1 authorities CySEC (Cyprus) and ASIC (Australia), offering top-notch safety, security, and transparency. Another entity is licensed by the Tier-3 authority, FSA (Seychelles), but provides insurance coverage up to $1 million from Lloyds of London for added protection.
If you want to learn more about brokers’ regulations, be sure to check out our article on the top regulated forex brokers.
Fees
AvaTrade vs IC Markets Spreads, Fees and Commissions Comparison
Fees Rank | 4.3 | 4.6 |
Inactivity Fee |
Based on our findings, AvaTrade’s trading fees are competitive. From AvaTrade’s commission-free Standard CFD Account, we found that the spread for EUR/USD averaged 0.9 pips during the London and New York sessions, beating the industry standard of 1.08 pips. However, a relatively high inactivity fee of $50 is charged after three months of no activity.
In both the Standard and ECN accounts of IC Markets, spreads are highly competitive. From the IC Markets commission-free Standard CFD Account, we found that the spread for EUR/USD averaged 0.7 pips during the London session and 0.6 pips during the New York session, also beating the industry standard of 1.08 pips. Additionally, there are no account maintenance or inactivity fees.
Platforms and Tools
AvaTrade vs IC Markets Trading Platforms Comparison
Platform Rank | 4.6 | 4.4 |
Trading Platforms | AvaTradeGo, AvaOptions, AvaSocial, MT5, Proprietary, MT4, WebTrader, DupliTrade | MT5, cTrader, MT4, TradingView, Zulutrade |
Mobile Apps | Android, iOS | Android, iOS |
AvaTrade offers a comprehensive suite of trading platforms across desktop, web, and mobile for both beginner and advanced traders. The MT4 and MT5 platforms cater to advanced traders seeking algorithmic trading capabilities. The AvaWebTrader is ideal for beginners with its user-friendly interface and popular charting tools and indicators. AvaTradeGO, the broker’s mobile app, provides easy access for trading on the move. The AvaSocial app and DupliTrade platform enable social and copy trading with advanced filters to find the best performers to follow. Additionally, the AvaOptions app offers forex options trading.
IC Markets provides an extensive selection of trading platforms across desktop, web, and mobile devices, including MT4, MT5, and cTrader. These platforms are tailored for advanced traders, with cTrader specifically optimized for high-frequency, short-term trading, offering functionalities like one-click trading and depth of market insights. For beginners, the mobile apps are user-friendly for trading, though they offer limited charting features. Additionally, beginners may find the TradingView platform helpful as it offers advanced charting features, a user-friendly interface, and a social trading community.
Tradable Instruments
AvaTrade vs IC Markets Instruments Selection Comparison
Tradable Instruments Rank | 4.5 | 4.7 |
# Tradable Instruments | 853 | 2245 |
# Currency Pairs | 53 | 61 |
# Commodities | 19 | 25 |
# Crypto | 19 | 21 |
# Stocks | 603 | 2100 |
# Indices | 34 | 25 |
AvaTrade offers over 840 tradable instruments, including forex, commodities, indices, ETFs, bonds, cryptos, and share CFDs. The broker also features a stand-alone app for trading 64 vanilla forex options contracts, which is unique in the industry. This diverse range of instruments is suitable for all types of trading preferences.
IC Markets provides over 2,250 tradable instruments, covering forex, indices, commodities, cryptocurrencies, and share CFDs. While beneficial for all types of traders, the broker excels in catering to stock traders, offering more than 2,100 stock CFDs from worldwide stock markets.
Customer Support
AvaTrade vs IC Markets Customer Support Comparison
Customer Support Rank | 4.6 | 4.6 |
Availability | Available 24/5 | Available 24/7 |
Live Chat |
AvaTrade offers 24/5 customer support via live chat. Phone and email support are available Monday to Friday during office hours. In our test, we found the fastest response time via live chat. While the agent struggled with some complex questions, they were informative and helpful when addressing more straightforward queries.
IC Markets provides 24/7 customer support via email and live chat. Email inquiries typically receive responses within one day, while live chat responses are received within two minutes. We found the support team to be thorough and helpful. However, there were difficulties reaching the general support phone number.
Research
AvaTrade vs IC Markets Research Tools Comparison
Research Rank | 4.5 | 4.7 |
News (Top-Tier Sources) | ||
Economic calendar | ||
Videos/Webinars | ||
Trading Central (Recognia) | ||
Autochartist |
AvaTrade offers a variety of helpful market research tools suitable for both beginner and advanced traders. From the AvaWebTrader platform, users can access a news screener to view the latest market news and outlooks. AvaTrade’s in-house analysts provide insights via weekly market reports in both article and video formats. Trading signals from Trading Central can also be accessed directly from the web trading platform, offering clear entry, stop-loss, and take-profit levels.
IC Markets offers a comprehensive Information Hub tailored for serious traders. This includes regularly updated market news and technical/fundamental analysis reports from the in-house team, offering actionable insights beneficial for beginner to intermediate traders. The broker also provides content from Trading Central, featuring Analyst Views, Featured Ideas, and Technical Insights aimed at advanced traders. Trading signals from Autochartist are useful for traders of all skill levels.
Deposits & Withdrawals
AvaTrade vs IC Markets Deposit and Withdrawal Methods Comparison
Deposit and Withdrawal Rank | 4.9 | 4.9 |
Deposit Options | Wire Transfer, Skrill, Neteller, Credit Card, Debit Card, Webmoney | Poli, PayPal, Wire Transfer, Skrill, Neteller, Credit Card, Union Pay, Klarna, Rapid Transfer, Bpay, Broker to Broker, Debit Card, Local Banks |
Withdrawal Options | Wire Transfer, Neteller, Skrill, Credit Card, Debit Card, Webmoney | Wire Transfer, Neteller, Skrill, Credit Card, PayPal, Klarna, Rapid Transfer, Union Pay, Bpay, Broker to Broker, Poli, Local Banks, Debit Card |
Withdrawal Fee |
AvaTrade offers fee-free deposit and withdrawal methods in four currencies (USD, EUR, GBP, AUD). The available methods include bank transfer, credit/debit card, Skrill, Neteller, and WebMoney. Deposits are processed within 24 hours, while bank transfers take up to seven business days. Withdrawals are processed within 48 hours, with bank transfers taking up to ten business days.
IC Markets offers 15 fee-free deposit and withdrawal methods that support more than ten currencies. Most methods, including debit/credit cards, PayPal, Neteller, and Skrill, offer instant processing times. Bank wire transfers have the longest processing time, typically taking 2 to 5 working days, while international wires may take up to 14 working days.
Account Types and Terms
AvaTrade vs IC Markets Account Types Comparison
Account Types and Terms | 4.9 | 4.9 |
# Base Currencies | 53 | 61 |
Islamic Account | ||
Demo Account | ||
Minimum Deposit | $100 | $200 |
AvaTrade offers a standard retail and professional trading accounts. The retail account offers commission-free trading, a minimum deposit of $100, and a fast account opening process. The professional provides access to higher leverage, but there are stringent regulatory requirements that need to be met.
IC Markets offers three account types. The Standard MetaTrader Account offers commission-free trading and is suited to beginner traders. The Raw Spread MetaTrader and Raw Spread cTrader accounts charge lower spreads but a commission per trade. The Raw Spread cTrader commission is $3.00 per lot, which is better than the $3.50 industry average.
Education
AvaTrade vs IC Markets Educational Content Comparison
Education Rank | 4.9 | 4.4 |
Videos | ||
Webinars |
AvaTrade offers a comprehensive range of educational materials. The 150 lessons cover topics in depth and include Advanced Trading Techniques and an Introduction to Technical Analysis. The company’s YouTube channel features a dozen platform video tutorials and video webinars. The educational materials cater to beginner and intermediate traders.
IC Markets provides an extensive range of educational resources, including articles, tutorial videos, and live webinars from industry experts. Beginners may find the Sunday Pre-Market Analysis live YouTube streams particularly helpful. There are also topics suited to advanced traders, such as algorithmic trading.
Our Methodology
Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.
We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.
We employ a comprehensive rating system across nine key categories:
- Trust
- Fees
- Platforms and Tools
- Tradable Instruments
- Customer Support
- Research
- Deposits and Withdrawals
- Account Types and Terms
- Education
In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.