Categories
Uncategorized

AxiTrader vs Pepperstone

Is AxiTrader better than Pepperstone? Who offers lower spread, better trading conditions and is a safe broker to trade?

We provide answers to all questions in this AxiTrader vs Pepperstone Comparison Review. For this Review we opened real accounts and deposited over US$ 6,000 in total to compare both offerings, account opening processes at AxiTrader and Pepperstone. Also, in this review we will compare the fees, trading conditions, platform selection and withdrawal process.   

What is AxiTrader and Pepperstone

Axi, formally known as AxiTraderis an Australian Forex and CFDs broker. The broker was founded in 2007, then in 2020 it was rebranded to Axi.

Pepperstone is an Australian Forex and CFDs broker founded in 2010.

Some of the highlights of AxiTrader vs Pepperstone are:

AxiTrader Pepperstone
💻 Websitewww.axi.comwww.pepperstone.com
🛡️Founded year20072010
🏦 HeadquarterAustraliaAustralia
🗺️ Authorized & Regulated inAustralia, UK, UAE, St Vincent, the GrenadinesAustralia, UK, Cyprus, Bahamas, UAE, Kenya
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.21.15
💳 Minimum depositUS$0AUD $200
💰 Withdrawal feeUS$0US$0
🖥️ Trading PlatformMT4MT4, MT5, cTrader
📈 Markets offeredForex, Indices, Commodities, CryptocurrenciesForex, Indices, Stocks, Commodities, Cryptocurrencies, Currency index
📉 Number of Products132158
🔎 Our Detailed Review

AxiTrader Review


Pepperstone Review

Licenses and Regulation

Due to regulations both Brokers are safe to trade and are highly reliable, low risk trading Brokers and are not a scam.

AxiTrader is regulated by the top-tier UK’s FCA, Australia’s ASIC, Dubai’s FSA, St Vincent and the Grenadines FSA.

Pepperstone is regulated by the top-tier UK’s FCA and Australia’s ASIC, which have stringent rules and enforcement processes.

For this AxiTrader vs Pepperstone review, we opened a standard account with AxiCorp Limited, one of the FCA regulated brokers, and an account under Pepperstone Limited, the UK entity regulated by the FCA.

We recommend that traders open their Axi accounts with the UK, Australia or Dubai entities, or a Pepperstone account under the UK entity since it offers the highest deposit protection compensation of up to Â£85,000 guaranteed by the UK’s FCA, which is the best in the industry.

  AxiTrader Pepperstone
🔒 LicensesFCA,
DFSA,
ASIC,
FSA
ASIC,
CySEC,
SCB,
FCA,
FSA
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

AxiTrader vs Pepperstone Fees

AxiTrader and Pepperstone fees are similar and charge fees below industry averages for the main instruments. The spreads charged on stock trades with Pepperstone are in line with industry charges or even below them.

Based on our tests, the spreads charged in our trades with AxiTrader are all lower than industry benchmarks. We also discovered that the broker charges extremely low spreads on Bitcoin trades. In the case of Pepperstone, the average spreads for the popular instruments in each market are also below industry averages. However, the spreads on Bitcoin trades are way above industry averages. This makes the broker unfriendly to cryptocurrency traders.

  AxiTrader FeesPepperstone Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission based fees✔️ ✔️
Inactivity Fee0$ 0$
Deposit fee0$0$
Withdrawal fee0$0$
Active trader/ VIP Programs✔️❌

Spreads Charged in Our Trades

For our test trades on AxiTrader vs Pepperstone accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread and reveal both negative and positive sides for each Broker spreads.

We tested the Standard Account with AxiCorp Limited which charges a spread on all tradable instruments. We ran our tests on MetaTrader 4 mobile app on our iPhone as this is AxiTrader’s the only platform. 

We tested the Standard Account with Pepperstone Limited, which charges a spread on all tradable instruments. Pepperstone stands out for its low fees for most of the instruments on offer, except for cryptocurrencies.

MarketsInstrumentsAxiTrader Avg. spread

Pepperstone Avg. spread

Industry avg. spread
IndicesFTSE 1001.111.65
ForexEUR/USD1.21.21.16
CommoditiesGold2.81.63.53
StocksAAPL0.91.75
CryptocurrenciesBitcoin14.411072.81

Account Types Compared

AxiTrader offers 2 account types with different fee structures: Standard and PRO accounts. Axi also offers swap-free Islamic AccountsPepperstone also offers 2 account types with separate fee structures: the Razor and Standard accounts. 

AxiTrader account opening is rather quick and easy. The registration process took only 15 minutes and our account was approved on the next day, as expected.

Account Opening with Pepperstone is quite straightforward. The registration process took a total of 20 minutes, and our account was approved on the next day.

AxiTrader
Accounts
Pepperston Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌✔️
Islamic Account✔️❌
PAMM Account❌❌

Markets and Products

At AxiTrader, you are able to trade CFDs on Forex pairs, stock indices, commodities, and cryptocurrencies. However, the broker offers a comparatively small number of tradable instruments. Besides, it does not offer ETFs and stocks, which is a drawback.

Pepperstone gives you an opportunity to trade CFDs on Forex pairs, stock indices, stocks, commodities, cryptocurrencies and a currency index.

MarketsAxiTrader Instruments Pepperstone Instruments
Indices3114
Forex7561
Commodities209
Stocks64
Cryptocurrency69
Currency index –1

Trading Conditions

The trading conditions both at AxiTrader and Pepperstone are favorable. Moreover, both traders allow high-risk strategies such as hedging and scalping.

Trading MethodAxiTrader Pepperstone
Hedging✔️ ✔️
Scalping✔️ ✔️
Change Leverage❌ ❌

Deposit and Withdrawal

Both deposit and withdrawal processes on AxiTrader and Peppoerstone are quick and straightforward.

Axi’s clients can deposit funds via various options, such as bank transfers, debit/credit cards, and e-wallets such as Skrill, PayPal, and Neteller.

All the deposit methods offered by Pepperstone are instant and free. However, a bank transfer can take a few business days to reflect in your trading account.

AxiTraderPepperstone
💰 Deposit Fee❌❌
💰 Withdrawal fee❌ ❌
💳 Minimum depositUS$0AUD $200
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal ❌ ✔️
Skrill✔️✔️

Trading Platform

Both AxiTrader and Pepperstone offer the popular MetaTrader 4 (MT4) platform. Pepperstone also offers MetaTrader 5 (MT5) and the cTrader platform to the traders.

AxiTrader does not have a proprietary trading platform. Traders can trade via the broker’s website, as well as via the mobile and desktop MT4 applications. In fact, the lack of other platforms is one of the broker’s actual drawbacks.

The lack of a proprietary trading platform in Pepperstone may dissuade some traders, but the MT5 and cTrader platforms are great.

AxiTrader PlatformPepperstone Platform
Web Platform✔️✔️
Desktop Platform✔️ ✔️
Mobile App✔️✔️
Alternative Platforms❌✔️
MetaTrader4✔️ ✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️

Education and Support

To help traders improve their trading results, AxiTrader offers in-depth articles on many trading topics, also it has a demo account. Likewise, Pepperstone also offers a demo account. Moreover, the broker also offers platform tutorial videos, educational videos, and webinars to suit all types of traders. 

AxiTrader’s customer support team was helpful and provided direct and relevant answers to most of our questions. Anyway, on our first interaction with the customer service team, we did not get accurate answers to our questions. Pepperstone’s customer support team was helpful and provided direct and relevant answers. 

We found that AxiTrader provided helpful video tutorials on how to navigate their platform. However, the broker could as well provide more video tutorials covering other topics.

Pepperstone also has a YouTube channel that offers dozens of educational videos that cover different topics suitable for all levels of traders.

AxiTrader SupportPepperstone Support
Trading School for Beginners❌ ✔️
Tutorials✔️✔️
Trading Videos✔️ ✔️
Webinars❌ ✔️
Daily News and Analysis❌ ✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability✔️ ❌

Conclusion on AxiTrader vs Pepperstone

Setting AxiTrader vs Pepperstone side by side we found both brokers reliable and with good standing. In the case of AxiTrader, a major pro is that Axi has low spreads across all the instruments we traded. Pepperstone spreads on all instruments are lower than the industry average. However, comparing AxiTrader vs Pepperstone, we found that both brokers offer a small number of tradable instruments.

Overall, our experience with AxiTrader was smooth from opening our account, to the deposit, trading and withdrawal processes. We recommend that traders open accounts with the UK, Australia or Dubai entities.

Our experience with Pepperstone was favorable from the account opening, to the deposit, trading and withdrawal processes. We recommend you to open an account with the UK, Australia or Cyprus entities if any is available to you. 

AxiTraderPepperstone
Recommended for
✔️ Beginning Traders
✔️ Experienced Traders
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trading
✔️Beginning Traders
✔️ Experienced Traders
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trader
✔️ Trading CFD
Might not be fit for
❌ Trading Futures or Real Stocks
❌ Commission based trading
❌ Trading on other platforms rather than MT4
❌ Trading Futures or Real Stocks

Categories
Uncategorized

Best Islamic Forex Brokers 2022

To introduce a list of best forex brokers offering Islamic accounts, we searched and tested several brokers.

We opened real accounts with each of the brokers and deposited between $4,000 and $8,000 with each of them. For the purpose of getting the real spreads, we also placed trades in their popular markets.

Afterwards, we reached out to the customer support team, to determine whether they are able to solve the possible issues. At last, we checked the withdrawal process, by withdrawing our funds.

Based on our experience and the collected data, we came up with the best forex brokers with Islamic accounts.

Forex Trading in Islam. Is Forex Trading Halal?

Islamic Accounts are mostly used by Islamic Forex account traders.  They are developed, taking into consideration the principles of the Islamic or Sharia laws. Even though Forex from Islamic Perspective is no halal, yet with Islamic Accounts users are able to join Islamic Forex trading. Read about Islamic Trading via Wikipedia.

What is Forex Islamic Account?

These accounts are specifically designed for Islamic traders (thus Islamic accounts) as Sharia laws prohibit any Muslim to earn or pay interest. Islamic swap-free accounts enable any Muslim to trade forex fully complying with the Sharia laws, thus making forex trading Halal.

Many brokers often charge an account opening fee for opening an Islamic account. Brokers might ask for reasons behind opening such accounts.

Most forex brokers voluntarily offer Islamic accounts to attract Muslim traders. But, the financial market regulators in the Middle Eastern countries, including the Dubai Financial Services Authority (DFSA) make it mandatory for forex brokers to offer such accounts.

Brokers with Islamic Forex Accounts

To select the best islamic forex brokers, we tested and reviewed several forex brokers. We opened live accounts and deposited real money with each broker. We also placed trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

Best Overall Islamic Forex Broker

As the best overall islamic broker we have chosen Pepperstone.

Pepperstone offers excellent services and is quite flexible and versatile. In markets across forex, indices, stocks, commodities, and cryptocurrencies it offers over 158 trading instruments. Also, traders can choose the most convenient trading platform for them from several options the broker offers – MT4, MT5, and cTrader.

Pepperstone offers two main account types; Standard account and Razor account (excluding Islamic account). Additionally, Pepperstone offers raw market spreads, which are the tightest in the market, with minimum trading and non-trading fees.

Best Islamic Forex Brokers for Beginners

As the best islamic forex broker for beginners, we have picked AvaTrade.

There are several reasons why exactly AvaTrade is considered the best islamic forex broker. Most importantly, it offers good educational resources to train new traders for the forex market and trading techniques. Moreover, it has a demo account that allows the traders to execute trades without being afraid of losing money.  Also, AvaTrade has quality Customer Service that is ready to solve the possible issues.

AvaTrade offers copy trading services. It has no limits in trading strategies. This enables the rookie traders to copy the exact strategy and positions of experts and  get profits even while still learning about trading.

Best MT4 Islamic Forex Broker

We have picked Amana Capital as the best MT4 islamic forex broker.

Amana Capital holds multiple regulatory licenses and operates globally. It is an excellent broker for Muslim traders who trade with an islamic account. It offers trading services on MT4. Moreover, it also enables the customers to trade on the latest MT5 platform.

Amana Capital’s primary platform is MT4, so this is the reason why all its tools and additional features are to be found here. The broker offers MT4 to clients on web, desktop and mobile devices.

Amana Capital is also strictly regulated in the UK, Cyprus, UAE, Lebanon, Malaysia, and Mauritius.

Lowest Fees Islamic Forex Broker

We have picked Go Markets as the best islamic forex broker with low spread and fees.

GO Markets is among the top forex and CFDs brokers. It offers forex pairs and CFDs of indices, metals, commodities, and shares, in total about 378 trading instruments.

GO Markets is also attractive as one of the best zero spread brokers. Traders have three account options to choose from: Standard, GO Plus+, and Pro. Although standard accounts do not offer any commission, Go Plus+ and Pro accounts offer spread from zero, additionally, commission for every transaction.

Islamic Account Forex Broker List

Here is a complete list of forex brokers that offer islamic accounts, which we have tested and reviewed.

Forex Broker Islamic AccountTest DetailsBroker Review
FxProYes
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
Admiral MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
BlackBull MarketsYesDeposit Amount: Over €4,000
Total Trade: 12 trades
Visit BlackBull Markets
GO MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Go Markets Review
ActivTradesYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ActivTrades Review
XMYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
FXTMYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
ICM CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
ICM Capital Review
TickmillYesDeposit Amount: Over $8,000
Total Trade: 12 trades
Tickmill Review
XTBYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
RoboMarkets (RoboForex)YesDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
PepperstoneYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
FBSYesDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
GKFXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
GKFX Review
DarwinexYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Darwinex Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
ThinkMarketsYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
FP MarketsYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
Amana CapitalYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Amana Capital Review
AvaTradeYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
Vantage FXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
INFINOXYesDeposit Amount: Over €4,000
Total Trade: 9 trades
INFINOX Review

FAQ and More on Islamic Brokers

Traders generally have many questions related to generic trading-related queries. We picked and answered some of the most common and relevant queries to Islamic forex brokers.

Halal Forex Brokers

Islamic Sharia law does not allow Muslims to gain or pay interests. However, interests are a key art when rolling over positions overnight. Brokers come up with Halal trading by offering islamic accounts to Muslim traders, which is a way to trade forex without violating Islamic laws.

Islamic Forex Broker in Malaysia

Demand for islamic forex brokers is high in Malaysia due to the large number of the Muslim population in the country. Some of the Labuan Financial Services Authority-regulated forex brokers offering Islamic accounts are:

  • Amana Capital
  • RoboMarkets (RoboForex)
  • Tickmill
  • AvaTrade

Islamic Forex Trading Brokers Australia

Many Australian forex brokers, regulated by the Australian Securities and Investments Commission (ASIC), offer Islamic forex trading accounts. Some of the top Aussie brokers offering islamic accounts are:

  • IC Markets
  • ThinkMarkets
  • Vantage FX
Categories
Uncategorized

Best Trading Micro Account Forex Brokers 2022

For this list, we have searched and tested several Micro Account Forex brokers offering micro accounts.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. Then, we placed real trades in each popular market to get the real spreads.

Also, we contacted the customer support team to solve the problems we faced. Finally, to find out whether the withdrawal process is smooth and clear, we withdrew our funds.

Based on our experience as a trader, we chose the best forex brokers with micro accounts.

What is a Micro Forex Account?

Most of the forex brokers allow micro account holders to start trading with small deposits. Some allow deposits as low as $1.

Micro account is one of the three forex account structures: the other two are mini and standard accounts.

Forex Micro Lot Size

These types of forex trading accounts bear much lower risk. While the usual lot size in forex trading is 100,000, micro account holders can access a lot size of only 1,000 which is also called a micro-lot.

  • 1 micro lot = 1,000 currency units
  • 1 mini lot = 10,000 currency units
  • 1 standard lot = 100,000 currency units

Best Leverage for Micro Account

Despite the smaller lot size, micro account holders can still access similar trading conditions like any other account type by using leverage (leverage levels depending on the instrument and regulation, or specific trading strategy). The main purpose of leverage of Micro accounts is to make small retail traders access trading with larger expansion.

Forex Micro vs Standard Account

Micro accounts are handled the same way as Standard accounts, however, Forex Micro vs Standard accounts are different in the size of the lot; instead of trading full units or lot, you trade micro-lots.

Best Forex Micro Account Brokers

To select the best forex brokers offering micro accounts, we tested and reviewed several forex brokers. We opened live accounts and deposited real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • RoboMarkets (RoboForex) â€“ Best Overall Micro Account Forex Broker
  • XM – Best Micro Account Forex Broker for Beginners
  • HotForex â€“ Best High Leverage Micro Account Forex Broker
  • FXTM– Best MT4 Micro Account Forex Broker
  • FBS – Best Micro Account Forex Broker with Low Spread and Fees

Best Micro Forex Brokers for Beginners

We have picked XM as the best micro account forex broker for beginners.

XM stands out for its excellent resources of education both for the workings of the forex market and trading strategies. The broker is strictly-regulated, and holds licenses in the UK, Cyprus, Australia, UAE, and Belize.

XM gives access to more than 1,300 instruments, including currency pairs, stocks, indices, and commodities. As to its Micro Account, it is versatile, supporting 11 base currencies. There is a lot restriction of 100 micro lots. Moreover, XM offers negative balance protection on all its account types.

Best MT4 Micro Forex Trading Platform

We have picked FXTM as the best MT4 micro account forex broker.

FXTM’s Micro Account offering stands out as the broker only offers services on the MT4 platform. For other account types, the broker also provides MT5 and FXTM Trader.

FXTM offers around 62 currency pairs, along with CFDs of indices, commodities, stocks, and cryptocurrencies. It also takes four fiats (USD, GBP, EUR, and NGN) as base currencies. It offers instant execution, and the maximum trading volume for a position is limited to a single standard lot.

FXTM is regulated in the UK, Cyprus, South Africa, and Mauritius.

Best Micro Account Broker with Low Fees

We have picked FBS as the best micro account forex broker with low fees.

As for trading-related fees, FBS undoubtedly offers the best micro account. FBS has minimum non-trading fees. Also, our testing reveals that the spreads charged by the broker on EUR/USD pairs are equal to 1.13 pips. This is considerably less than the industry average.

Micro Account Forex Brokers List

We have tested and reviewed forex brokers that offer micro accounts, and have come up with the list below:

Forex BrokerAccount TypeVisit BrokerBroker Review
XMMicro AccountDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
RoboMarkets (RoboForex)Micro AccountDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets (RoboForex) Review
FBSMicro AccountDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
HotForexMicro AccountNAVisit HotForex

Also, here is the list of the brokers that do not offer a separate micro account, but allow trading with micro lot:

  • FP Markets
  • OANDA
  • Exness
  • eToro

FAQ and More on Brokers Offering Micro Accounts

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to forex brokers offering micro accounts.

Micro Account Forex Brokers in Australia

We picked XM as the best micro account forex broker in Australia. The broker offers excellent educational resources. It’s trading strategies are also great. XM is well-regulated and holds licenses in Australia, UK, Cyprus etc.

Micro FX Accounts in South Africa

The Financial Sector Conduct Authority (FSCA) regulates all forex brokers operating in South Africa. Some of the FSCA-regulated forex brokers offering micro accounts in South Africa are:

  • FXTM
  • HotForex

Micro Lots Forex Brokers in India

The Securities and Exchange Board of India (SEBI) oversees Indian financial services players. Still, the regulation of forex brokers is quite loose in the country. Some of the well-regulated forex brokers with micro accounts in India are:

  • FBS
  • XM
  • HotForex

Forex Micro Account MT4

Among retail and professional traders MetaTrader4 is the most popular trading platform for forex and CFDs trading.

Forex brokers that offer micro accounts on the MT4 platform are listed below:

  • FBS
  • RoboMarkets (RoboForex)
  • XM
  • HotForex

High Leverage Micro Forex Brokers

In forex trading leverage is of great importance. It allows traders to take a higher position, which can increase the profits drastically. Some of the high leverage forex brokers offering micro accounts are:

  • FBS
  • XM
  • HotForex
Categories
Uncategorized

Malaysia Best No Deposit Bonus Forex 2022

For this list, we have searched and tested several No Deposit Forex brokers Malaysia that offer no deposit bonus.

We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.

We also contacted the customer support, as it was essential to find out if they would be able to solve the issues we had encountered. Finally, we tested the withdrawal process, by withdrawing our funds. This helped us to find out the possible issues the traders may face.

Based on our trading data and experience as a trader, we handpick the best no deposit bonus forex brokers.

Malaysia Forex Promotion Free Deposit Bonus

Forex no deposit bonus is the free credit offered by the forex brokers upon the opening of a new trading account. 

Though the brokers run many promotional schemes, no deposit bonus forex allows traders to receive real account credit without making any initial deposits. Brokers often use these tactics to attract new traders, the main types of forex free deposit bonuses remain the following:

  • No Deposit Bonus: For no deposit bonus program, the traders do not need to make first deposit with the broker. As soon as they open an account with the broker, they get free credit. However, at present only a few well-reputed brokers offer no deposit bonuses.
  • Deposit Bonus: In the retail trading industry a deposit bonus is very common and has its solid place. Brokers credit a certain percentage of the deposit to the traders’ accounts after deposits are made. Usually, brokers run a tired program under which various sums are credited after a certain deposit amount with a cap on the maximum bonus.

What is Forex Non Deposit Bonus in Malaysia?

Brokers usually run many promotional offers for distributing bonuses, yet, many regulators prohibit promotions that use any kind of bonus. Leading financial market regulators, such as the FCA, ASIC etc do not allow brokers to offer bonuses to traders.

However, there are still some reputed regulators that allow promotions with bonuses including Brokers in Malaysia. And there are Brokers with Bonuses in Malaysia, either regulated by local SCM or are international brokers accepting Malaysian clients.

  • Important to note, usually No Deposit Bonuses are offered with terms and conditions, means brokers transfer no deposit bonus forex to the new traders’ accounts with certain conditions. 
  • Most usual Terms for Bonuses is the traders cannot just withdraw the bonus credit to their bank account. This money are solely provided for trading purposes, and only gains from the Bonus account can be withdrawn. Besides, most of brokers allow withdrawals only with initial deposit done. However, every broker prorvide its own conditions.

Best Malaysia No Deposit Bonus Broker

All the brokers operating in Malaysia are regulated by the Securities Commission of Malaysia (SCM). It also allows foreign brokers to take Malaysian clients. Some of the brokers that offer both no deposit bonus forex and a deposit bonus in Malaysia are:

  • XM
  • AvaTrade
  • Tickmill

The best no deposit bonus forex broker in Malaysia is considered XM Group. This is due to its long-running $30 account opening bonus. Traders are entitled for the bonus as soon as they open their accounts.

Malaysia Best Forex Broker With No Deposit Bonus

To select the best forex broker with no deposit bonus in Malaysia, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each selected broker.

Also, we placed real trades in popular markets to get the real idea of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.

  • Tickmill â€“ Best Overall No Deposit Bonus Forex Broker
  • XM – Forex Broker with Both Deposit and No Deposit Bonus
  • FBS – Forex Broker with Highest No Deposit Bonus

Best Overall No Deposit Bonus Forex Broker Malaysia

We have picked Tickmill as the best overall no deposit bonus forex broker in Malaysia.

Tickmill is one of the very few brokers that offers a no deposit bonus forex. Only clients under its Seychelles-regulated entity can get a $30 no deposit bonus. Tickmill is regulated in the UK, Cyprus, South Africa, Seychelles and Malaysia. However, most jurisdictions prohibit brokers from offering any kind of bonus.

Besides, Tickmill offers forex and CFDs trading services on MT4 platforms. Moreover, it offers a good number of deposit and withdrawal methods. The support team of Tickmill is also very helpful to traders.

What Makes Good Free No Deposit Bonus Broker?

Actually, there are 4 main points that make No Deposit Forex brokers a good one, including Malaysia Brokers. So, here are the points you should pay attention to:

  • The broker must be licensed by a respected authority, for insuring the traders’ safety and transparent trading
  • Provide No Deposit Bonus account and offer account types suitable for beginners
  • Offer easy to use trading platform with good charting and research tools for easy navigation and trading 
  • Provide quality Education materials and customer support

Malaysia No Deposit Bonus Forex Brokers List

Here you can see the complete list of brokers in Malaysia that offer no deposit bonus or deposit bonus to traders:

Forex BrokerDeposit BonusDetailsNo Deposit BonusDetails
TickmillNoUS$30Bonus Details
XM100%Bonus DetailsUS$30Bonus Details
FBS100%Bonus DetailsUS$140Bonus Details
EightcapUS$50 – US$1,000Bonus Details
AvaTradeUS$200 – US$10,000Bonus Details
Amana CapitalUS$200 – US$1,000Bonus Details
ADSSUS$100 – US$800Bonus Details
Plus500S$70 – S$13,000Bonus Details
Capital.com$50Bonus Details
FXCM$25Bonus Details
City Index20%Bonus Details
Roboforex120%Bonus Details
Libertex100%Bonus Details
Admiral Markets100%Bonus Details
HotForex100%Bonus Details
GKFX55%Bonus Details
XTB50%Bonus Details
Vantage FX50%Bonus Details
Moneta Markets50%Bonus Details
FXTM30%Bonus Details
BDSwiss30%Bonus Details
Markets.com20%Bonus Details
GO Markets20%Bonus Details
Forex.com20%Bonus Details
Blueberry Markets20%Bonus Details
Dukascopy10%Bonus Details
HYCM10%Bonus Details
Exness10%Bonus Details
ICM Capital10%Bonus Details

FAQ and More on Forex Trading Bonus in Malaysia

Traders usually have many questions related to trading-related queries. To be helpful, we tried to pick and answer some of the most important and frequent queries related to no deposit bonus forex Malaysia brokers.

Welcome Bonus Forex $50 Malaysia

We have tested and verified dozens of forex brokers and Malaysia Brokers. Unfortunately, none of them offer welcome bonus forex $50. However, there are still some forex brokers that offer no deposit bonuses in Malaysia, and they are:

  • Tickmill
  • XM
  • FBS

Malaysia Welcome Bonus Forex $100 No Deposit Bonus

There is only one broker that offers no deposit bonus around this mark in Malaysia. FBS clients can receive up to $140 in no deposit bonus. The bonus is split into two: they receive $70 immediately after verification and another $70 after they download the forex broker app.

No Deposit Bonus Forex $200 Malay

At present, there is no forex broker that offers a no deposit bonus in Malaysia as high as $200. FBS remains the only broker offering a no deposit bonus forex of around $170.

Malaysia MT4 Forex No Deposit Brokers

The most popular electronic platform to trade forex and CFDs is MT4 worldwide and Malaysia respectiveley. According to our testing and verifications, all the three forex brokers that offer no deposit bonus provide trading services on MT4. These brokers are:

  • Tickmill
  • XM
  • FBS

Categories
Uncategorized

IC Markets vs FxPro

Is IC Markets better than FxPro? Which of them offers lower spread, better trading conditions and is a safe broker to trade?

We provide answers to all questions in this IC Markets vs FxPro Comparison Review. For this Review we opened real accounts and deposited over US$ 6,000 in total to compare both offerings, account opening process at IC Markets and FxPro. Also, we will compare the fees, trading conditions, platform selection and withdrawal process.   

What is IC Markets and FxPro

IC Markets is an Australian Forex and CFDs broker founded in 2007, headquartered in Sydney, Australia.

FxPro is a forex broker from the UK and was founded in 2006.

Some of the highlights of IC Markets vs FxPro are:

IC Markets FxPro
💻 Websitewww.icmarkets.comwww.fxpro.com
🛡️Founded year20072006
🏦 HeadquarterAustraliaUK
🗺️ Authorized & Regulated inAustralia, Cyprus, Seychelles, BahamasUK, Cyprus, South Africa, The Bahamas
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.021.6
💳 Minimum depositUS$200US$100
💰 Withdrawal fee$0US$0
🖥️ Trading PlatformMeta Trader 4, Meta Trader 5, cTraderMT4, MT5, cTrader, FxPro EDGE
📈 Markets offeredForex, Indices, Stocks, Commodities, CryptocurrenciesForex, Indices, Stocks, Commodities, Cryptocurrencies, Energies
📉 Number of Products559234
🔎 Our Detailed Review

IC Markets Review


FxPro Review

Licenses and Regulation

Both Brokers are safe to trade and are highly reliable, low risk trading Brokers due to regulations and are not a scam.

IC Markets is licensed by Cyprus’ CySEC, Seychelles’ FSA and the Bahamas’ SCB.

FxPro is regulated under the UK’s FCA, which offers compensation schemes of up to £85,000, and the CySEC, which, in its turn, offers a compensation scheme of â‚¬20,000. 

For this IC Markets vs FxPro review, we opened a standard MT5 account with IC Markets (EU) Limited, licensed by the CySEC, and a standard MetaTrader4 and MetaTrader5 accounts with FxPro Financial Services Ltd, which is also regulated by CySEC.

We recommend that you open your IC Markets account with the Australian or Cyprus entities if either is available to you, and register your FxPro account under the regulation of the United Kingdom if that’s available in your jurisdiction.

  IC Markets FxPro
🔒 LicensesASIC,
CySEC,
SCB,
FSA
FCA,
CySEC,
SCB,
FSCA

Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

IC Markets vs FxPro Fees

IC Markets and FxPro fees are similar and charge low or average fees for the main instruments. The average spreads charged on stock trades are in line with industry charges or below them.

Most of the account types offered by IC Markets have very low spreads and do not charge a commission. Only the Raw Spread Account charges a commission.

In the case of FxPro, our testing was based on the FxPro MT4 and FxPro MT5 accounts. Forex spreads were consistent for our tests, but spreads for indices and commodities were fluctuating.

  IC Markets FeesFxPro Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌✔️
Commission based fees✔️ ✔️
Inactivity Fee0$ 5$
Deposit fee0$50$
Withdrawal fee0$0$
Active trader/ VIP Programs✔️✔️

Spreads Charged in Our Trades

For our test trades on IC Markets vs FxPro accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread, and we found both negative and positive sides for each Broker spreads.

We tested IC Markets’ Standard Account on the MT5 platform, which charges a spread on all instruments. The spreads were generally low. The fees charged for trading Forex pairs, indices, commodities and cryptocurrencies were much lower than industry averages.

We tested FxPro MT4 and FxPro MT5 accounts.  The forex spreads on MT5 accounts are around the industry average, while spreads for indices are higher than the average benchmark. Stock spreads on MT4 accounts are significantly lower than the industry average. 

MarketsInstrumentsIC Markets Avg. spreadFxPro Avg. spreadIndustry avg. spread
IndicesFTSE 1001.11.71.65
ForexEUR/USD1.01.61.16
CommoditiesGold2.23.13.53
StocksAAPL1.50.61.75
CryptocurrenciesBitcoin39.2472.81

Account Types Compared

IC Markets offers 4 account types with slightly different features. FxPro offers multiple accounts based on the trading platforms and execution type. 

IC Markets account opening is quick and seamless. The registration process took exactly 14 minutes, and our account was approved in one working day.

Account Opening with FxPro was quick and smooth. The registration process took around 7 minutes. Our account was verified on the same working day.

IC Markets
Accounts
FxPro
Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌✔️
Islamic Account✔️✔️
PAMM Account❌✔️

Markets and Products

Both IC Markets and FxPro offer a large variety of tradable instruments in the Forex, indices, stocks and commodities markets.

Markets IC Markets InstrumentsFxPro Instruments
Indices2319
Forex6170
Commodities127
Stocks453134
Cryptocurrency104

Trading Conditions

The trading conditions both at IC Markets and FxPro are great. Both traders allow high-risk strategies such as hedging and scalping.

Trading Method IC Markets FxPro
Hedging✔️ ✔️
Scalping ✔️ ✔️
Change Leverage✔️ ✔️

Deposit and Withdrawal

Both deposit and withdrawal processes on IC Markets and FxPro are quick and simple.

IC Markets’ clients can deposit funds into their trading accounts via bank transfers, debit/credit cards, and e-wallets such as Skrill, PayPal, and Neteller.

FxPro supports a wide range of deposit methods, including credit and debit cards, bank transfers, and others. Deposits with online wallets like PayPal, Skrill, and Neteller are not available on the UK-registered entity.

IC MarketsFxPro
💰 Deposit Fee❌❌
💰 Withdrawal fee0$ ($20 for international bank withdrawals)❌
💳 Minimum depositUS$200US$100
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️

Trading Platform

Both IC Markets and FxPro offer the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. In addition, they offer the cTrader platform. What is more, FxPro also offers its Proprietary platform FxPro (EDGE).

Algorithmic traders will find a home with IC Markets, which offers fast execution speeds and guarantees no requotes on submitted trades. The broker’s cTrader platform offers the cAlgo app that algorithmic traders can use. The cTrader Copy app allows for social copy trading.

FxPro offers trading on both industry-leading platforms, also, on its proprietary platform. The broker offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), CTrader and its Proprietary platform FxPro(EDGE).

IC Markets PlatformFxPro Platform
Web Platform✔️✔️
Desktop Platform✔️ ✔️
Mobile App✔️✔️
MetaTrader5✔️ ✔️
MetaTrader4✔️ ✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌✔️
Research✔️✔️

Education and Support

IC Markets offers a great forex trading course for beginners that covers topics such as technical analysis and trading psychology. FxPro offers good quality educational resources to traders. Its educational section is divided for beginner and advanced traders. 

IC Markets’ customer service team was quite helpful and gave us direct but sometimes inaccurate answers to our questions, while our experience with FxPro customer support was good. The representatives were quick to respond on both live chat and email with accurate answers. 

We found that IC Markets’ education offering lacks depth, and we would like to see the broker add more content on intermediate and advanced topics. 

FxPro offers text-based tutorials, video tutorials on trading, explanatory videos and a Demo account.

IC Market SupportFxPro Support
Trading School for Beginners✔️✔️
Tutorials✔️✔️
Trading Videos✔️ ✔️
Webinars✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability✔️ ✔️

Conclusion on IC Markets vs FxPro

Comparing IC Markets vs FxPro side by side we found both brokers reliable and with good standing. IC Markets provides relatively low spreads and breakneck execution speeds. FxPro, on the other hand, offers forex spreads at the average industry level, yet the execution speed is fast.

Trading costs are relatively similar, mostly based on spread.

Overall, our experience with IC Markets was good. We recommend IC Markets to all levels of traders from beginners, intermediate and advanced traders who can all benefit from its services.

Our overall experience with FxPro was excellent. We recommend FxPro to forex traders who run EA as their strategy.

IC MarketsFxPro
Recommended for
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Scalping trader
✔️ Hedging trader
✔️Beginning Traders
✔️ Experienced traders
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trader
✔️ Trading CFD
✔️ Trading Currency Pairs
Might not be fit for❌ Trading Futures or Real Stocks
❌ Commission based trading
❌ Commission based trading

Categories
Uncategorized

AvaTrade vs Plus500

Is AvaTrade better than Plus500? Which of them has lower spread, better trading conditions and is safer broker to trade?

We provide answers to all questions in this AvaTrade vs Plus500 Comparison Review. For this Review we opened real accounts and deposited over US$ 10,000 in total to compare both offerings, account opening process at AvaTrade and Plus500, also, we checked fees, trading conditions, platform selection and withdrawal process.   

What is AvaTrade and Plus500

AvaTrade is a large and popular broker that offers trading with forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

Plus500 is a large and quite popular CFD broker with a good number of instruments for retail and professional traders.

Some of the highlights of AvaTrade vs Plus500 are:

AvaTradePlus500
💻 Websitewww.avatrade.comwww.plus500.com
🛡️Founded year20062008
🏦 HeadquarterDublin, IrelandIsrael
🗺️ Authorized & Regulated inIreland, Japan, Australia, UAE, South Africa, British Virgin IslandsUK, Cyprus, Australia, South Africa, Seychelles, Singapore
🔒 Is Broker safeYesYes
💰 EUR/USD Spread0.870.8
💳 Minimum depositUS$100US$100
💰 Withdrawal feeUS$0US$0
🖥️ Trading PlatformMT4, MT5, AvaTradeGO, AvaOptionsPlus500’s proprietary trading platform
📈 Markets offeredForex, Indices, Commodities, Bonds, Cryptocurrencies, Stocks, ETFsForex, Stocks, Indices, Commodities, Cryptocurrencies, ETFs, Options
📉 Number of Products7962,400
🔎 Our Detailed ReviewAvaTrade ReviewPlus500 Review

Licenses and Regulation

Both Brokers are safe to trade and are considered reliable, they both provide a low risk trading environment and are not a scam.

AvaTrade has gained 7 regulatory licenses from some of the top regulators, including Australia, Ireland, Abu Dhabi, and Japan.

Plus500 holds 6 regulatory licenses from several top regulators, like the United Kingdom’s FCA, Singapore’s MAS, and Australia’s ASIC.

For this review, we opened an account with AvaTrade EU Ltd which is regulated by the Central Bank of Ireland, and with Plus500 AU Pty Ltd ASIC regulated broker in Australia.

We recommend you register your AvaTrade account with the Irish, Australian, or Abu Dhabi entity.

For Plus500 the United Kingdom, Australian or Singapore entity are considered the best.

 AvaTradePlus500
🔒 LicensesASIC,
CySEC,
DFSA
FCA,
IFSC
FCA, Bulgaria FSC
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

AvaTrade vs Plus500 Fees

AvaTrade and Plus500 fees are similar and mainly built into a spread basis, there are no commission-based accounts.

As for additional fees, AvaTrade charges an inactivity fee of $50 or €50 or £50 every quarter after 3 months of account inactivity, while Plus500 does not charge funding fees but charges a monthly fee after 3 months of inactivity.

 AvaTradePlus500 Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission based fees❌❌
Inactivity Fee

$50 or €50 or £50

0$
Deposit fee0$0$
Withdrawal fee0$0$
Active trader/ VIP Programs❌❌

Spreads Charged in Our Trades

For our test trades on AvaTrade vs Plus500 accounts, we chose popular instruments in each market. We placed 3 trades for each instrument and listed the average actual spread charged on the live trades done through a funded account. We found that spreads for the two brokers are almost similar, with slight differences.  

AvaTrade’s spreads for forex are much below the industry standards. The offered spreads on indices and commodities are also below the average industry benchmark.

Our testing showed that Plus500 spreads for Forex and ETFs were much lower than the industry average. While Spreads on Indices, Commodities, Stocks, and Cryptocurrencies, are on the higher side.

MarketsInstrumentsAvaTrade Avg. spread Plus500 Avg. spreadIndustry avg. spread
IndicesFTSE 1001.1721.65
ForexEUR/USD0.870.81.16
CommoditiesGold3.6743.53
StocksAAPL2.11.931.75

Account Types Compared

Both AvaTrade and Plus500 offer only a single account type to the traders. However, AvaTrade also offers Islamic trading accounts to its Islamic clients.

With AvaTrade our account opening experience was quick and smooth. The registration process took merely 15 minutes. Our account was verified after 1 business day.

Account Opening with Plus500 for our test was smooth, the registration process took merely 16 minutes.

 AvaTrade AccountsPlus500 Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌❌
Islamic Account✔️ ❌
PAMM Account❌❌

Markets and Products

AvaTrade vs Plus500 offer a similar and very wide range of instruments across all the markets. Both brokers offer all instruments on a CFD basis. 

MarketsAvaTrade InstrumentsPlus500 Instruments
Indices2329
Forex5571
Commodities2922
Stocks6141737
Cryptocurrency1414
ETFs5994
Options433

Trading Conditions

Trading conditions with AvaTrade are better as the broker allows both hedging and scalping. It also offers copy trading services with two third-party services: DupliTrade and ZuluTrade. On the other hand, Plus500 does not allow hedging or scalping. It does not even allow traders to change leverage levels.

Trading MethodAvaTradePlus500
Hedging✔️❌
Scalping✔️ ❌
Change Leverage❌❌
Copy trading/ Social trading✔️ ❌
Beginners Trading✔️❌
Professional Trading✔️✔️

Deposit and Withdrawal

Both deposit and withdrawal processes on AvaTrade and Plus500 are simple enough. Both brokers have a minimum deposit amount of US$100 for all payment methods. However, Plus500 requires $300 for bank transfers.

AvaTrade allows clients to deposit through wire transfers, credit cards, and popular e-wallets like Skrill, Neteller, and Paypal.

We tested deposit by Debit Card on Plus500 and there was no deposit fee and funding was instant.

AvaTradePlus500
💰 Deposit Fee❌❌
💰 Withdrawal fee❌❌
💳 Minimum depositUS$100US$100
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️

Trading Platform

AvaTrade offers multiple trading platforms, like MetaTrader 4 and MetaTrader 5, whereas Plus500 offers its own trading platform.

AvaTrade also offers multiple other options, such as WebTrader (AvaTrade’s proprietary web-based platform), and AvaOptions (for forex vanilla options), AvaTradeGo (for mobile trading). Plus500 offers its trading platform on web and mobile, there is no desktop-specific client.

AvaTrade’s own web trading platform and its mobile trading platform are also very clean and easy to use for the traders. For our tests, however, we placed the orders on the MetaTrader 4 mobile platform.

Plus500’s platform is user-friendly and good for CFD trading, but cannot be customized.

AvaTrade PlatformPlus500 Platform
🖥️ Proprietary Platform✔️✔️
Web Platform✔️✔️
Desktop Platform✔️ ❌
Mobile App✔️✔️
Alternative Platforms✔️ ❌
MetaTrader4✔️ ❌
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️
Advanced Research tools✔️❌

Education and Support

AvaTrade offers excellent trading educational materials for new traders. In reverse, Plus500 offers only a few basic videos to educate novice traders.

In AvaTrade vs Plus500 comparison we found that both brokers offer decent customer support with Live Chat and support inquiries.

AvaTrade offers tutorial videos on trading and platform-tools, eBooks and web-based guides on trading, as well as webinars. The broker also offers a demo account for novice traders.

Plus500 does not offer high-quality education resources.

AvaTrade SupportPlus500 Support
Trading School for Beginners✔️❌
Tutorials✔️❌
Trading Videos✔️✔️
Webinars✔️❌
Daily News and Analysis✔️❌
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability✔️ ❌

Conclusion on AvaTrade vs Plus500

Comparing AvaTrade to Plus500 side by side we found both as trusted brokers. The proposals are almost similar, while AvaTrade can be better suitable for all size and experience level traders, and is an excellent option for beginners, whereas Plus500 lacks education and good research.

Both brokers offer low Trading costs. They are both based on spreads with no commission, yet AvaTrade offers impressive spreads on forex pairs.

Overall experience with AvaTrade was smooth, we liked the broker’s educational materials, which were quite impessive. Our experience with customer support was also good.

We recommend AvaTrade to traders who focus on trading currencies and traders who would like to run hedging or scalping as their trading strategies.

Our experience with Plus500 was mixed. On the positive side, it offers a huge list of CFD instruments across several markets with attractive spreads on forex pairs and other instruments.

AvaTradePlus500
Recommended for✔️Trading currency pairs or CFD stocks
✔️ Beginning Traders
✔️ Experienced traders
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trader
✔️ Trading through MT4/MT5 platform
✔️CFD Trading
✔️ Experienced traders
Might not be fit for❌ Commission based trading
❌ Real Stock/Futures Trading

❌ Beginning Trader
❌ Scalping trader
❌ Hedging trader
❌ EA trader
❌ Trading through MT4/MT5 platform
❌ Commission based trading

Categories
Uncategorized

Forex Brokers Comparison 2022

Up to January 2022, we have tested and made 33 Forex Broker Comparison opening 33 live accounts, depositing over US$150,000, placing 400+ trades and making over 120 deposits and withdrawals from 14 countries.

To create in-depth Reviews and Compare Brokers, we made Online Broker Comparison, checking side-by-side trading conditions to find who is Better Broker. For this we:

  1. Checked the broker licenses and status in each country
  2. Opened a real account with the brokers
  3. Made real money deposit between $4000-$8000
  4. Placed 3 trades in the popular instrument of each market to determine the average spread
  5. Contacted broker’s customer support team to resolve the issues we encountered
  6. Withdrew all our funds to see the withdrawal time and if there are any delays or issues with withdrawals
  7. Compared trading data and experience to pick the best brokers

Please see Full list of Forex Brokers Spread Comparison to Compare Online Brokers below:

CategoryOur Review
Brokers ComparedeToro vs Plus500
Brokers ComparedeToro vs Trading 212
Brokers ComparedTrading 212 vs Plus500
Brokers ComparedIC Markets vs Pepperstone
Brokers ComparedXTB vs eToro
Brokers ComparedAvaTrade vs eToro
Brokers ComparedXM vs AvaTrade
Brokers ComparedAvaTrade vs Plus500
Brokers ComparedFxPro vs IC Markets
Categories
Uncategorized

XM vs AvaTrade

Is XM better than AvaTrade? Who offers lower spread, better trading conditions and is a safe broker to trade?

We provide answers to all questions in this XM vs AvaTrade Comparison Review. For this Review we opened real accounts and deposit over US$ 6,000 in total to compare both offerings, account opening process at XM vs AvaTrade, also the fees, trading conditions, platform selection and withdrawal process.   

What is XM and AvaTrade

XM is a global Forex and one of the regulated CFD brokers, offering trading with Forex pairs, indices, stocks, and commodities

AvaTrade is a large and popular broker that offers trading with forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

Some of the highlights of XM vs AvaTrade are:

XMAvaTrade
💻 Websitewww.xm.comwww.avatrade.com
🛡️Founded year20092006
🏦 HeadquarterLimassol, CyprusDublin, Ireland
🗺️ Authorized & Regulated inUK, Cyprus, Australia, UAE, BelizeIreland, Japan, Australia, UAE, South Africa, British Virgin Islands
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.60.87
💳 Minimum depositUS$5US$100
💰 Withdrawal feeUS$0US$0
🖥️ Trading PlatformMT4, MT5MT4, MT5, AvaTradeGO, AvaOptions
📈 Markets offeredForex, Indices, Stocks, CommoditiesForex, Indices, Commodities, Bonds, Cryptocurrencies, Stocks, ETFs
📉 Number of Products1336796
🔎 Our Detailed ReviewXM ReviewAvaTrade Review

Licenses and Regulation

Both Brokers are safe to trade and are highly reliable, low risk trading Brokers due to regulations and are not a scam.

XM is regulated by the top-tier ASIC, and Cyprus’ CySEC, which have strict rules and enforcement mechanisms.

AvaTrade has gained 7 regulatory licenses from some of the top regulators, including Australia, Ireland, Abu Dhabi, and Japan.

For this review, we opened an account with XM Trading Point of Financial Instruments Limited, regulated by the Cyprus Securities and Exchange Commission (CySEC) and with Ava Trade EU Ltd which is regulated by the Central Bank of Ireland

We recommend that you open your account with the XM Cyprus entity since it is the only one that offers deposit protection to traders if it is available to you and with the AvaTrade Irish, Australian, or Abu Dhabi entities.

 XMAvaTrade
🔒 LicensesASIC,
CySEC,
DFSA
FCA,
IFSC
ASIC,
ADGM,
FRSA,
FSA,
FFAJ,
FSCA,
BVIFSC
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

XM vs AvaTrade Fees

XM and AvaTrade fees are almost similar and built into a spread basis, however, XM has also commission based accounts.

There are no additional fees charged by XM, moreover, the broker charges average fees for trading the main instruments and the fees charged on stocks and commodities are lower than industry averages.

AvaTrade, on the other hand, charges an inactivity fee of $50 or €50 or £50 every quarter after 3 months of account inactivity. In addition, the broker charges administration fees of US$100 or €100 or £100 after a year of inactivity.

 XM FeesAvaTrade Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission based fees✔️ ❌
Inactivity Fee$0$50 or €50 or £50
Deposit fee$0 $0
Withdrawal fee$0 $0
Active trader/ VIP Programs✔️❌

Spreads Charged in Our Trades

For our test trades on XM vs AvaTrade accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread and we were able to find both negative and positive sides for each Broker spreads.

A closer look at the spreads charged in our XM trades revealed that they were all aligned with industry benchmarks. None of XM’s average spreads were above industry averages. Moreover, the broker’s spreads on stocks and commodities were slightly lower than those of its peers.

Through our testing we found that AvaTrade’s spreads for forex are much below the industry standards. The offered spreads on indices and commodities are also below the average industry benchmark. On the negative side, cryptocurrency and stock spreads are above the industry average.

MarketsInstrumentsXM Avg. spreadAvaTrade Avg. spreadIndustry avg. spread
IndicesFTSE 1001.51.171.65
ForexEUR/USD1.60.871.16
CommoditiesGold3.53.673.53
StocksAAPL1.352.11.75
CryptocurrenciesBitcoin57.9372.81
ETFsQQQ0.130.45

Account Types Compared

AvaTrade offers a single account with access to all tools and services from one account. On the contrary, XM offers 5 account types with different fee structures, that is, the Micro, Standard, XM Zero, XM Ultra-low and Shares accounts.

XM account opening is quick and effortless. The registration process took exactly 14 minutes, and our account was approved two days later.

Opening a new account with AvaTrade is fast and easy. The registration process took merely 15 minutesOur account was verified after 1 business day, which was very satisfying.

 XM AccountsAvaTrade Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌❌
Islamic Account✔️✔️
PAMM Account❌❌

Markets and Products

AvaTrade offers a wider range of instrument selection, however all are traded as CFDs. XM, in its turn, offers trading multiple tradable instruments in the Forex, indices, stocks and commodities markets.

MarketsXM InstrumentsAvaTrade Instruments
Indices2623
Forex5755
Commodities1729
Stocks1236614
Cryptocurrency14
ETFs59
Bonds –2

Trading Conditions

Trading conditions on XM are great. AvaTrade is also quite impressive in this regard. Moreover, traders can execute most strategies since both brokers allow high-risk strategies such as hedging and scalping. AvaTrade also offers copy trading services with two third-party services: DupliTrade and ZuluTrade.

Trading MethodXMAvaTrade
Hedging✔️ ✔️
Scalping✔️ ✔️
Change Leverage✔️❌
Copy trading/ Social trading✔️✔️
Beginners Trading✔️✔️
Professional Trading✔️✔️

Deposit and Withdrawal

XM processes client withdrawals via the same payment methods available for deposits making it easy for clients to withdraw their funds. It also does not charge any withdrawal fees. AvaTrade does not charge withdrawal fees as well.

The deposit methods offered by XM are instant and free. Anyway, the first deposit has to be made via credit card.

We have tested the deposit process on AvaTrade using multiple payment modes. There was no deposit fee and for most of the payment methods, funding was instant.

XMAvaTrade
💰 Deposit Fee❌❌
💰 Withdrawal fee$0❌
💳 Minimum depositUS$5US$100
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️
Neteller✔️ ✔️

Trading Platform

XM offers the popular MetaTrader 4 (MT4 platform) and MetaTrader 5 (MT5) platforms to its clients and does not have a proprietary trading platform.

AvaTrade also offers multiple trading platforms like MetaTrader 4 and MetaTrader 5, also, it offers WebTrader (AvaTrade’s proprietary web-based platform), AvaOptions (for forex vanilla options), AvaTradeGo (for mobile trading).

While the XM MT4 platform is a bit dated, we found the MT5 platform to be more than adequate for traders who prefer a modern platform.

AvaTrade’s own web trading platform and its mobile trading platform are also very clear and easy to use for the traders.

XMAvaTrade Platform
Proprietary Platform❌ ✔️
Web Platform✔️✔️
Desktop Platform✔️ ❌
Mobile App✔️✔️
Alternative Platforms❌✔️
MetaTrader4✔️ ✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌✔️
Research✔️✔️
Advanced Research tools✔️ ✔️

Education and Support

XM has a great education offering for beginners under its Tradepedia video course that provides an in-depth guide to the markets. AvaTrade, likewise, offers excellent trading educational materials for new traders.

XM runs over 40 webinars weekly in different languages that its clients can join and learn about the markets. The webinars are based on experience level and take place in different timezones to suit its clients.

AvaTrade offers tutorial videos on trading and platform-tools, eBooks and web-based guides on trading, as well as webinars.

XM SupportAvaTrade Support
Trading School for Beginners✔️✔️
Tutorials✔️✔️
Trading Videos❌✔️
Webinars✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability❌✔️

Conclusion on XM vs AvaTrade

Comparing XM vs AvaTrade side by side we found both brokers reliable and with good standing. The proposals have similarities, as both XM vs AvaTrade are CFD Trading Brokers with a large number of instruments and easy-to-use platforms.

XM provides great customer support response times and the spreads on most instruments are aligned with industry averages.  AvaTrade offers impressive spreads on forex pairs.

Overall, we had a smooth experience with XM starting from the account opening, to the deposit, trading and withdrawal processes.

We recommend XM to traders who prefer the MT4/5 platforms and to those who run EAs due to the free VPS service. The broker is also suitable for beginner traders because of its detailed educational materials.

Overall, our experience with AvaTrade is positive. Our experience with customer support was also good.

We also recommend AvaTrade to traders who focus on trading currencies and traders who would like to run hedging or scalping as their trading strategies.

XMAvaTrade
Recommended for✔️ CFD Stocks trading
✔️ Beginning Traders
✔️ Experienced traders
✔️ Trading Currency Pairs
✔️ EAs trading
✔️ Scalping trader
✔️ Hedging trader
✔️ Trading through MT4 / MT5
✔️CFD Trading
✔️ Experienced traders
✔️ Beginning Trader
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trader
✔️ Trading through MT4/MT5 platform
Might not be fit for
❌ Commission based trading
❌ Real Stock / Futures Trading
❌ Futures Trading
❌ Trading of real Stocks
❌ Commission based trading

Categories
Uncategorized

eToro vs AvaTrade

Is eToro better than AvaTrade? Who offers lower spread, better trading conditions and is a safe broker to trade?

We provide answers to all questions in this eToro vs AvaTrade Comparison Review. For this Review we opened real accounts and deposit over US$ 6,000 in total to compare both offerings, account opening process at eToro vs AvaTrade also the fees, trading conditions, platform selection and withdrawal process.   

What is eToro and AvaTrade

eToro is one of the largest, Best Social trading Brokers and platforms with a good range of portfolios and Top number of investors.

AvaTrade is a large and popular broker that offers trading with forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

Some of the highlights of eToro vs AvaTrade are:

eToroAvaTrade
💻 Websitewww.etoro.comwww.avatrade.com
🛡️Founded year20062006
🏦 HeadquarterIsraelDublin, Ireland
🗺️ Authorized & Regulated inUSA, UK, Australia, CyprusIreland, Japan, Australia, UAE, South Africa, British Virgin Islands
🔒 Is Broker safeYesYes
💰 EUR/USD Spread0.970.87
💳 Minimum depositUS$50 or US$500US$100
💰 Withdrawal feeUS$5US$0
🖥️ Trading PlatformeToro’s own trading platformMT4, MT5, AvaTradeGO, AvaOptions
📈 Markets offeredIndices, Forex, Commodities, Stocks, Cryptocurrencies, ETFsForex, Indices, Commodities, Bonds, Cryptocurrencies, Stocks, ETFs
📉 Number of Products986796
🔎 Our Detailed RevieweToro ReviewAvaTrade Review

Licenses and Regulation

Both Brokers are safe to trade and are highly reliable, low risk trading Brokers due to regulations and are not a scam.

eToro is licensed by some of the top global regulators, including the UK’s FCA, CySEC, ASIC, and FinCEN.

AvaTrade has gained 7 regulatory licenses from some of the top regulators, including Australia, Ireland, Abu Dhabi, and Japan.

For this review, we opened an account under eToro (Europe) Limited regulated by CySEC and with Ava Trade EU Ltd which is regulated by the Central Bank of Ireland

We recommend you register your account with the eToro UK or CySEC entity and with the AvaTrade Irish, Australian, or Abu Dhabi entity.

 eToroAvaTrade
🔒 LicensesASIC,
CySEC,
IE Singapore,
FCA,
NFA
ASIC,
ADGM,
FRSA,
FSA,
FFAJ,
FSCA,
BVIFSC
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

eToro vs AvaTrade Fees

eToro vs AvaTrade fees are similar and mainly built into a spread basis, there are no commission based accounts.

There are additional fees charged by two Brokers; eToro charges a few non-trading fees, while AvaTrade charges an inactivity fee of $50 or €50 or £50 every quarter after 3 months of account inactivity. In addition, the broker charges administration fees of US$100 or €100 or £100 after a year of inactivity.

 eToro FeesAvaTrade Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission based fees❌❌
Inactivity Fee$10$50 or €50 or £50
Deposit fee0$0$
Withdrawal fee5$0$
Active trader/ VIP Programs✔️❌

Spreads Charged in Our Trades

For our test trades on eToro vs AvaTrade accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread, we found both negative and positive sides for each Broker spreads.

eToro spreads for Indices and Forex are below the industry average. For commodities and stock CFDs spreads are above the industry average. Cryptocurrencies in our trades are more than double the industry average.

Through our testing we found that AvaTrade’s spreads for forex are much below the industry standards. The offered spreads on indices and commodities are also below the average industry benchmark. On the negative side, cryptocurrency and stock spreads are above the industry average.

MarketsInstrumentseToro Avg. spreadAvaTrade Avg. spreadIndustry avg. spread
IndicesFTSE 1001.41.171.65
ForexEUR/USD0.970.871.16
CommoditiesGold4.53.673.53
StocksAAPL2.232.11.75
CryptocurrenciesBitcoin102.7157.9372.81
ETFsQQQ0.530.130.45

Account Types Compared

eToro vs AvaTrade both offer a single account with access to all tools and services from one account.

Opening a new account on eToro was very simple and easy. The registration process took merely 11 minutes.

Opening a new account with AvaTrade is fast and easy. The registration process took merely 15 minutesOur account was verified after 1 business day.

 eToro AccountsAvaTrade Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌❌
Islamic Account✔️✔️
PAMM Account❌❌

Markets and Products

AvaTrade offers a wider range of instrument selection compared to eToro, however all are traded as CFDS. While eToro is primarily a Forex and CFD broker, it also offers trading services with real Stocks, ETFs, and Cryptocurrencies.

MarketseToro InstrumentsAvaTrade Instruments
Indices1323
Forex4955
Commodities3129
Stocks726614
Cryptocurrency1614
ETFs15159
Bonds –2

Trading Conditions

Putting side by side the trading conditions of eToro vs AvaTrade, we found that on eToro they are fair and suitable for beginning traders, however, the broker does not allow scalping.

On the other hand, AvaTrade allows both hedging and scalping. It also offers copy trading services with two third-party services: DupliTrade and ZuluTrade.

Trading MethodeToroAvaTrade
Hedging✔️ (eToro will retain the profits)✔️
Scalping❌✔️
Change Leverage✔️❌
Copy trading/ Social trading✔️✔️
Beginners Trading✔️✔️
Professional Trading✔️✔️

Deposit and Withdrawal

The deposit and withdrawal processes on eToro are simple enough, supporting various funding methods. However, eToro charges a flat fee of $5 for every withdrawal. 

AvaTrade does not charge withrawal fee, still, our experience with the withdrawal process was mixed. We faced some issues with our initial withdrawal requests, but they were quickly resolved.

We tested the deposit process on eToro using multiple payment modes and the deposits were received instantly.

We have tested the deposit process on AvaTrade using multiple payment modes. There was no deposit fee and for most of the payment methods, funding was instant.

eToroAvaTrade
💰 Deposit Fee❌❌
💰 Withdrawal fee5$❌
💳 Minimum depositUS$50 or US$500US$100
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️
Neteller❌ ✔️

Trading Platform

eToro uses its own unique trading platform and does not offer any other alternative. AvaTrade offers multiple trading platforms like MetaTrader 4, MetaTrader 5, WebTrader (AvaTrade’s propriotary web-based platform), AvaOptions (for forex vanilla options), AvaTradeGo (for mobile trading).

eToro is known for its social trading feature. In fact, it gained popularity because of this feature. It basically has two features: CopyTrader and CopyPortfolio.

MetaTrader platforms are among the widely used third-party trading platforms and have many advatages. AvaTrade’s own web trading platform and its mobile trading platform are also very clear and easy to use for the traders.

eToro PlatformAvaTrade Platform
Proprietary Platform✔️✔️
Web Platform✔️✔️
Desktop Platform❌❌
Mobile App✔️✔️
Alternative Platforms❌✔️
MetaTrader4❌✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌✔️
Research✔️✔️
Advanced Research tools❌✔️

Education and Support

eToro does not offer high quality education resources. In contrast, AvaTrade offers excellent trading educational materials for new traders.

We found eToro developing its learning materials and established eToro Trading School.

AvaTrade offers tutorial videos on trading and platform-tools, eBooks and web-based guides on trading, as well as webinars.

eToro SupportAvaTrade Support
Trading School for Beginners✔️✔️
Tutorials✔️✔️
Trading Videos❌✔️
Webinars✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability❌✔️

Conclusion on eToro vs AvaTrade

Comparing eToro vs AvaTrade side by side we found both brokers reliable and with good standing. The proposals are different with eToro focusing on Social Trading and AvaTrade as CFD Trading Broker with a large number of instruments and easy-to-use platforms.

In addition, in this eToro vs AvaTrade comparison, we found that eToro costs are based on spread with no commission with a competitive trading environment, whereas, AvaTrade offers impressive spreads on forex pairs.

Our trading experience on eToro platform was smooth. eToro is good for beginners and experienced/popular traders. It has some attractive features like social trading and is Best for the number of Top Traders.

Overall, our experience with AvaTrade is positive. Our experience with customer support was also good. We also recommend AvaTrade to traders who focus on trading currencies and traders who would like to run hedging or scalping as their trading strategies.

eToroAvaTrade
Recommended for✔️ Best for Social Trading
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Stocks Trading
✔️CFD Trading
✔️ Experienced traders
✔️ Beginning Trader
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trader
✔️ Trading through MT4/MT5 platform
Might not be fit for❌ Scalping trader
❌ Hedging trader
❌ EA trader
❌ Trading through MT4/MT5 platform only
❌ Commission based trading
❌ Futures Trading
❌ Trading of real Stocks
❌ Commission based trading

Categories
Uncategorized

IC Markets vs Pepperstone

Is IC Markets better than Pepperstone? Who offers lower spread, better trading conditions and is a safe broker to trade?

We provide answers to all questions in this IC Markets vs Pepperstone Comparison Review. For this Review we opened real accounts and deposit over US$ 6,000 in total to compare both offerings, account opening process at IC Markets and Pepperstone. Also, we will compare the fees, trading conditions, platform selection and withdrawal process.   

What is IC Markets and Pepperstone

IC Markets is an Australian Forex and CFDs broker founded in 2007, headquartered in Sydney, Australia.

Pepperstone is an Australian Forex and CFDs broker founded in 2010.

Some of the highlights of IC Markets vs Pepperstone are:

IC Markets Pepperstone
💻 Websitewww.icmarkets.comwww.pepperstone.com
🛡️Founded year20072010
🏦 HeadquarterAustraliaAustralia
🗺️ Authorized & Regulated inAustralia, Cyprus, Seychelles, BahamasAustralia, UK, Cyprus, Bahamas, UAE, Kenya
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.021.15
💳 Minimum depositUS$200AUD $200
💰 Withdrawal fee$0US$0
🖥️ Trading PlatformMeta Trader 4, Meta Trader 5, cTraderMT4, MT5, cTrader
📈 Markets offeredForex, Indices, Stocks, Commodities, CryptocurrenciesForex, Indices, Stocks, Commodities, Cryptocurrencies, Currency index
📉 Number of Products559158
🔎 Our Detailed Review

IC Markets Review


Pepperstone Review

Licenses and Regulation

Both Brokers are safe to trade and are highly reliable, low risk trading Brokers due to regulations and are not a scam.

IC Markets is licensed by Cyprus’ CySEC, Seychelles’ FSA and the Bahamas’ SCB.

Pepperstone is regulated by the top-tier UK’s FCA and Australia’s ASIC, which have stringent rules and enforcement processes.

For this IC Markets vs Pepperstone review, we opened a standard MT5 account with IC Markets (EU) Limited, licensed by the CySEC and an account under Pepperstone Limited, the UK entity regulated by the FCA.

We recommend that you open your IC Markets account with the Australian or Cyprus entities if either is available to you, or a Pepperstone account under the UK entity since it offers the highest deposit protection compensation of up to Â£85,000 guaranteed by the UK’s FCA, which is the best in the industry.

  IC Markets Pepperstone
🔒 LicensesASIC,
CySEC,
SCB,
FSA
ASIC,
CySEC,
SCB,
FCA,
FSA
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

IC Markets vs Pepperstone Fees

IC Markets and Pepperstone fees are similar and charge low fees for the main instruments. The average spreads charged on stock trades are in line with industry charges or below them.

Most of the account types offered by IC Markets have very low spreads and do not charge a commission. Only the Raw Spread Account charges a commission. In case of Pepperstone, the average spreads for the popular instruments in each market are below industry averages. However, the spreads on Bitcoin trades are way above industry averages, making the broker unfriendly to cryptocurrency traders.

  IC Markets FeesPepperstone Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission based fees✔️ ✔️
Inactivity Fee0$ 0$
Deposit fee0$0$
Withdrawal fee0$0$
Active trader/ VIP Programs✔️❌

Spreads Charged in Our Trades

For our test trades on IC Markets vs Pepperstone accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread, and we found both negative and positive sides for each Broker spreads.

We tested IC Markets’ Standard Account on the MT5 platform, which charges a spread on all instruments. The spreads were generally low. The fees charged for trading Forex pairs, indices, commodities and cryptocurrencies were much lower than industry averages.

We tested the Standard Account with Pepperstone Limited, which charges a spread on all tradable instruments. Pepperstone charges low fees for most of the instruments on offer, except for cryptocurrencies.

MarketsInstruments IC Markets Avg. spread

Pepperstone Avg. spread

Industry avg. spread
IndicesFTSE 1001.111.65
ForexEUR/USD1.01.21.16
CommoditiesGold2.21.63.53
StocksAAPL1.50.91.75
CryptocurrenciesBitcoin39.2411072.81

Account Types Compared

IC Markets offers 4 account types with slightly different features. Pepperstone offers 2 account types with separate fee structures, that is, the Razor and Standard accounts. 

IC Markets account opening is quick and seamless. The registration process took exactly 14 minutes, and our account was approved in one working day.

Account Opening with Pepperstone is quite straightforward. The registration process took a total of 20 minutes, and our account was approved on the next day, as expected.

IC Markets
Accounts
Pepperston Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌✔️
Islamic Account✔️❌
PAMM Account❌❌

Markets and Products

IC Markets offers a wide variety of tradable instruments in the Forex, indices, stocks, commodities and cryptocurrencies markets. At Pepperstone, you can trade CFDs on Forex pairs, stock indices, stocks, commodities, cryptocurrencies and a currency index.

Markets IC Markets Instruments Pepperstone Instruments
Indices2314
Forex6161
Commodities129
Stocks45364
Cryptocurrency109
Currency index –1

Trading Conditions

The trading conditions both at IC Markets and Pepperstone are great. Both traders allow high-risk strategies such as hedging and scalping.

Trading Method IC Markets Pepperstone
Hedging✔️ ✔️
Scalping ✔️ ✔️
Change Leverage✔️❌

Deposit and Withdrawal

Both deposit and withdrawal processes on IC Markets and Peppoerstone are quick and simple.

IC Markets’ clients can deposit funds into their trading accounts via bank transfers, debit/credit cards, and e-wallets such as Skrill, PayPal, and Neteller.

All the deposit methods offered by Pepperstone are instant and free. However, a bank transfer can take a few business days to reflect in your trading account.

IC MarketsPepperstone
💰 Deposit Fee❌❌
💰 Withdrawal fee0$ ($20 for international bank withdrawals)❌
💳 Minimum depositUS$200AUD $200
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️

Trading Platform

Both IC Markets and Pepperstone offer the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. In addition, they offer the cTrader platform

Algorithmic traders will find a home with IC Markets, which offers fast execution speeds and guarantees no requotes on submitted trades. The broker’s cTrader platform offers the cAlgo app that algorithmic traders can use. The cTrader Copy app allows for social copy trading.

The lack of a proprietary trading platform in Pepperstone may dissuade some traders, but the MT5 and cTrader platforms are great.

IC Markets PlatformPepperstone Platform
Web Platform✔️✔️
Desktop Platform✔️ ✔️
Mobile App✔️✔️
Alternative Platforms❌❌
MetaTrader4✔️ ✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️

Education and Support

IC Markets offers a great forex trading course for beginners that covers topics such as technical analysis and trading psychology. Pepperstone offers a demo account. Moreover, the broker also offers platform tutorial videos, educational videos, and webinars to suit all types of traders. 

IC Markets’ customer service team was quite helpful and gave us direct but sometimes inaccurate answers to our questions, while Pepperstone’s customer support team was helpful and provided direct and relevant answers. 

We found that IC Markets’ education offering lacks depth, and we would like to see the broker add more content on intermediate and advanced topics. 

Pepperstone also has a YouTube channel that offers dozens of educational videos that cover different topics suitable for all levels of traders.

IC Market SupportPepperstone Support
Trading School for Beginners✔️✔️
Tutorials✔️✔️
Trading Videos✔️ ✔️
Webinars✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability✔️ ❌

Conclusion on IC Markets vs Pepperstone

Comparing IC Markets vs Pepperstone side by side we found both brokers reliable and with good standing. IC Markets provides relatively low spreads and breakneck execution speeds. Pepperstone spreads on all instruments are lower than the industry average. However, it offers a small number of tradable instruments compared to other brokers.

Trading costs are relatively similar, mostly based on spread.

Overall, our experience with IC Markets was good. We recommend IC Markets to all levels of traders from beginners, intermediate and advanced traders who can all benefit from its services.

Our experience with Pepperstone was smooth from the account opening, to the deposit, trading and withdrawal processes. We recommend you to open an account with the UK, Australia or Cyprus entities if any is available to you. 

IC MarketsPepperstone
Recommended for
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Scalping trader
✔️ Hedging trader
✔️Beginning Traders
✔️ Experienced traders
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trader
✔️ Trading CFD
Might not be fit for
❌ Trading Futures or Real Stocks
❌ Commission based trading
❌ Trading Futures or Real Stocks