IC Markets Vs. Interactive Brokers - Compare Trustworthiness, Capabilities, Fees and Legitimacy

IC Markets is an Australian broker with a global presence specialising in Forex trading. One of their greatest advantages is providing RAW spread accounts with interbank pricing.

Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.

• Professional traders looking for Interbank rates
• High volume traders that will save great amounts of costs with their low spreads and commissions

• Seasoned investors looking for a one-stop shop to cover a variety of needs
• Global investors who seek the most reliable discount service available
• Traders from intermediate to advanced level

• ASIC (Australia)
• CySec (Cyprus)
• FSA (Seychelles)

• SEC (United States)
• FINRA (United States)
• FCA (United Kingdom)
• ASIC (Australia)
• IIROC (Canada)
• MNB (Hungary)
• BSE (India)
• CBI (Ireland)
• FSA (Japan)
• CSSF (Luxembourg) CSSF
• MAS (Singapore)

• Customisable leverage per asset before opening trades
• Interbank rates and low commissions
• Great platform variety

• High regulation
• Exceptional number of investment instruments (Above 100,000+)
• Competitive discount fees

• Avaliable assets are limited (Also No ETFs)
• No ability to purchase real stocks or cryptocurrencies, only CFDs

• Complicated account opening process
• Platforms are not beginner friendly
• Narrow choice of deposit options (Mostly bank transfers)

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• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Valid identity document (Passport, ID Card, etc)
• Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

• Visa
• Mastercard
• Bank Transfer
• Bitcoin
• Sofort
• Paypal
• Neteller
• Skrill

• Bank Transfer
• ACH (US only)
• Check (US only)
• Debit Card (US only)
• BPAY (Australia only)

US, CA, IL.

AF, SY, SO, SD, LY, NG, BI.

One free withdrawal per month, subsequent are $10 per withdrawal or equivalent

No commissions in standard accounts but rather a 1 Pip spread markup on interbank prices received. For Raw spreads accounts, $7 per lot round turn.

Commissions depend on market and residency:

• US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value.
• European stocks have €3 minimum and 0.05% trade value.
• Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1.
• Options start at $0.25 per contract and go as low as $0.15 per contract.
• Futures start at $0.85 per contract and go as low as $0.25 per contract