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AxiTrader vs IC Markets

Is AxiTrader better than IC Markets? Which of them has a lower spread, better trading conditions, and is a safer broker to trade?

We provide answers to all questions in this AxiTrader vs IC Markets Comparison Review. For this Review, we opened real accounts and deposited over US $11,000 in total to compare both offerings, the account opening process at AxiTrader and IC Markets also, we checked fees, trading conditions, platform selection, and withdrawal process.   

AxiTrader vs IC Markets Compared

What is AxiTrader and IC Markets?

AxiTrader is an Australian Forex and CFDs broker that offers trading with forex pairs, indices, commodities, and cryptocurrencies. In 2020 it was rebranded to Axi.

IC Markets is an Australian Forex and CFDs broker with hundreds of tradable market instruments in such categories as forex pairs, stocks, indices, commodities, and cryptocurrencies.

Some of the highlights of AxiTrader vs IC Markets are:

AxiTraderIC Markets
💻 Websitewww.axi.comwww.icmarkets.com
🛡️Founded year20072007
🏦 HeadquarterSydney, Australia Sydney, Australia
🗺️ Authorized & Regulated inAustralia, the UK, the UAE, Saint Vincent, and the GrenadinesAustralia, Cyprus, Seychelles, Bahamas
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.21.02
💳 Minimum depositUS$0US$200
💰 Withdrawal feeUS$0US$0
🖥️ Trading PlatformMT4MT4, MT5, cTrader
📈 Markets offeredForex, Indices, Commodities CryptocurrenciesForex, Stocks, Indices, Commodities, Cryptocurrencies
📉 Number of Products132559
🔎 Our Detailed ReviewAxiTrader ReviewIC Markets 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.

Axi is licensed by 4 regulators globally including the top-tier UK’s FCA, Australia’s ASIC, Dubai’s FSA, and St Vincent and the Grenadines FSA.

IC Markets is licensed by 4 regulators worldwide including the top-tier Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), Seychelles’ Financial Services Authority (FSA), and The Securities Commission of The Bahamas (SCB).

For this review, For this review, we opened an account with AxiCorp Limited which is one of the FCA regulated brokers, and a standard MT5 account with IC Markets (EU) Limited, licensed by the Cyprus Securities and Exchange Commission (CySEC). More on CySEC

We recommend that you register your Axi accounts with the UKAustralia or Dubai entities, and IC Markets account with the Australian or Cyprus entity if available in your jurisdiction.

 AxiTraderIC Markets
🔒 LicensesFCA
DFSA
ASIC
FSA
AFSL
CySEC
FSA
SCB
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on the entity)✔️ (depending on the entity)

AxiTrader vs IC Markets Fees

AxiTrader vs IC Markets fees are similar and mainly built into spreads. They do not change any commission-based fees.

Both Axi and IC Markets do not charge any other non-trading fees such as deposit, withdrawal, and account inactivity fees. Only IC Markets’ Raw Spread Account charges a commission.

 AxiTraderIC Markets
Fees based on the spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission-based fees✔️✔️
Inactivity Fee$0$0
Deposit fee$0$0
Withdrawal fee$0$0
Active trader/ VIP Programs✔️ ✔️

Spreads Charged in Our Trades

For our test trades on AxiTrader vs IC Markets 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.

Looking at the spreads charged in our Axi trades, we found that they were all lower than industry benchmarks. None of Axi’s average spreads were above industry averages, which was quite impressive. We also discovered that the broker charges extremely low spreads on Bitcoin trades as compared to its peers.

A deeper look at the IC Markets spreads charged shows that they were mostly below the industry average except dor the stock spreads that were aligned with the industry average.

MarketsInstrumentsAxiTrader Avg. spread IC Markets Avg. spreadIndustry avg. spread
IndicesFTSE 1001.11.01.65
ForexEUR/USD1.21.01.16
CommoditiesGold2.82.23.53
StocksAAPL1.51.75
CryptocurrenciesBitcoin14.439.2472.81

Account Types Compared

IC Markets gives traders a choice to pick different accounts since it offers 4 account types with slightly different functionality. Those types are the Standard account, cTrader raw Spread account, the Raw Spread account, and Islamic account. Axi offers 2 account types with different functionalities: Standard and PRO accounts. Axi also offers its traders swap-free Islamic accounts. Read more about swap-free Islamic account

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 IC Markets for our test was smooth, the registration process took exactly 14 minutes. The account was approved in 1 business day.

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

Markets and Products

Both AvaTrade and IC Markets offer a mostly similar and very wide range of instruments for most of the markets. Stock traders would be pleased with IC Markets since Axi does not offer any instrument with that market.

Both brokers do not offer instruments on bonds and ETFs which is a major drawback.

MarketsAxiTrader InstrumentsIC Markets Instruments
Indices3123
Forex7561
Commodities2012
Stocks453
Cryptocurrency610

Trading Conditions

The brokers provide excellent trading conditions to their clients by offering high-risk trading strategies like scalping and hedging, they are a good fit for social and copy traders. Both AvaTrade and IC Markets are suitable for beginners and experts.

The only difference is that, unlike IC Markets, Axi does allow changing leverage.

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

Deposit and Withdrawal

The AxiTrader vs IC Markets review shows that deposit processes on both Axi and IC Markets are quick and simple.

We didn’t face any challenges during the deposit and withdrawal processes with both AxiTrader and IC Markets.

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.

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

Important to mention, that IC Markets charges an AUD $20 fee for international bank transfers withdrawal

AxiTraderIC Markets
💰 Deposit Fee❌❌
💰 Withdrawal fee❌❌(with an exception)
💳 Minimum depositUS$0US$200
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal❌ ✔️
Skrill✔️✔️

Trading Platform

Both AxiTrader and IC Markets offer their clients the popular MetaTrader4 platform, traders can get access those platforms via desktop, mobile, or web. IC Markets also offers MetaTrader5 and the cTrader platform as well as copy-trading systems attached to each platform. Actually, the lack of alternative platforms from Axi is an oversight on their part.

Both brokers do not have their proprietary platforms.

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.

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 to social/copy trade.

AxiTrader PlatformIC Markets 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

Both AxiTrader and IC Markets offer excellent trading educational materials for new traders. The customer service team was quite helpful and gave us direct answers to our questions.

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.

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.

AvaTrade SupportIC Markets 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 IC Markets

Summing up our AxiTrader vs IC Markets review, we came to the point that both brokers are safe to trade and highly reliable.

Both brokers provide excellent trading conditions to their clients with a wide range of instruments, with a slight difference that AxiTrader does not allow change leverage. Both brokers do not provide bonds and ETFs trading which is remiss of them. Also, Axi does not allow trading with stocks hence trades may prefer IC Markets instead.

Both AxiTradaer vs IC Markets fees are mostly built into spreads with no commission fee, only IC Markets’ Raw Spread Account charges commissions.

Both brokers provide excellent trading conditions, only Axi does not allow traders to change leverage. The educational materials for both brokers are quite good as well, however, they both lack depth

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.

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.

AvaTradeIC Markets
Recommended for✔️ Beginning Traders
✔️ Experienced Traders
✔️ Scalping trader
✔️ Hedging trader
✔️ EA trading
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Scalping trader
✔️ Hedging trader
✔️ Trading through MT4/MT5 platform
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
❌ Commission-based trading

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AvaTrade vs IC Markets

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

We provide answers to all questions in this AvaTrade vs IC Markets Comparison Review. For this Review, we opened real accounts and deposited over US $9,000 in total to compare both offerings, the account opening process at AvaTrade and IC Markets, also, we checked fees, trading conditions, platform selection, and withdrawal process.   

AvaTrade vs IC Markets Compared

What is AvaTrade and IC Markets?

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

IC Markets is an Australian Forex and CFDs broker with hundreds of tradable market instruments in such categories as forex pairs, indices, commodities, and cryptocurrencies.

Some of the highlights of AvaTrade vs IC Markets are:

AvaTradeIC Markets
💻 Websitewww.avatrade.comwww.icmarkets.com
🛡️Founded year20062007
🏦 HeadquarterDublin, IrelandSydney, Australia
🗺️ Authorized & Regulated inIreland, Japan, Australia, UAE, South Africa, British Virgin IslandsAustralia, Cyprus, Seychelles, Bahamas
🔒 Is Broker safeYesYes
💰 EUR/USD Spread0.871.02
💳 Minimum depositUS$100US$200
💰 Withdrawal feeUS$0US$0
🖥️ Trading PlatformMT4, MT5, AvaTradeGO, AvaOptions, WebTraderMT4, MT5, cTrader
📈 Markets offeredForex, Indices, Commodities, Bonds, Cryptocurrencies, Stocks, ETFsForex, Stocks, Indices, Commodities, Cryptocurrencies
📉 Number of Products796559
🔎 Our Detailed ReviewAvaTrade ReviewIC Markets 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.

IC Markets is licensed by 4 regulators worldwide including the top-tier Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), Seychelles’ Financial Services Authority (FSA), and The Securities Commission of The Bahamas (SCB).

For this review, we opened an account with AvaTrade EU Ltd which is regulated by the Central Bank of Ireland, and a standard MT5 account with IC Markets (EU) Limited, licensed by the Cyprus Securities and Exchange Commission (CySEC).

We recommend that you register your AvaTrade account with the Irish, Australian, or Abu Dhabi entity and IC Markets account with the Australian or Cyprus entity if available in your jurisdiction.

 AvaTradeIC Markets
🔒 LicensesASIC,
CySEC,
DFSA
FCA,
FSC
AFSL,
CySEC,
FSA,
SCB
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on the entity)✔️ (depending on the entity)

AvaTrade vs IC Markets Fees

AvaTrade vs IC Markets fees are built into spreads with no commission-based fees, IC Markets charges low fees trading most of the instruments on offer. The fees charged for trading forex pairs, indices, commodities, and cryptocurrencies are lower than the industry average. From all account types, only Raw Spread Account charges commissions.

As for additional fees, AvaTrade charges an inactivity fee of $50 or €50 or £50 every quarter after 3 months of account inactivity, also administration fees of $100, €100, £100 after a year of inacticity, while IC Markets does not charge any non-trading fees.

 AvaTradeIC Markets
Fees based on the spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission-based fees❌❌
Inactivity Fee $50, €50, £50$0
Deposit fee$0$0
Withdrawal fee$0$0
Active trader/ VIP Programs❌✔️

Spreads Charged in Our Trades

For our test trades on AvaTrade vs IC Markets 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. Forex traders may prefer AvaTrade more since it offers lower spreads than IC Markets, whereas, for indices, stocks, commodities, and cryptocurrencies traders IC Markets wins the offering.

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, while for stock and cryptocurrencies are above the industry average.

A deeper look at the IC Markets spreads charged shows that they were mostly below the industry average except dor the stock spreads that were aligned with the industry average

MarketsInstrumentsAvaTrade Avg. spread IC Markets Avg. spreadIndustry avg. spread
IndicesFTSE 1001.171.01.65
ForexEUR/USD0.871.01.16
CommoditiesGold3.672.23.53
StocksAAPL2.11.51.75
CryptocurrenciesBitcoin57.9339.2472.81
BondsGVD/EUR Bonds0.04
ETFsVXXB0.13

Account Types Compared

IC Markets gives traders a choice to pick different accounts since it offers 4 account types with slightly different functionality. Those types are the Standard account, cTrader raw Spread account, the Raw Spread account, and Islamic account. AvaTrade account range is limited to 2 account types: Standard and Islamic accounts.

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 IC Markets for our test was smooth, the registration process took exactly 14 minutes. The account was approved in 1 business day.

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

Markets and Products

Both AvaTrade and IC Markets offer a similar and very wide range of instruments with a slight difference across all the markets. Both brokers offer all instruments on a CFD basis. However, ETFs and Bonds traders should use Avatrade since IC Markets does not offer instruments in those markets.

MarketsAvaTrade InstrumentsIC Markets Instruments
Indices2323
Forex5561
Commodities2912
Stocks614453
Cryptocurrency1410
ETFs59
Bonds2

Trading Conditions

The brokers provide excellent trading conditions to their clients offering high-risk trading strategies like scalping and hedging, they are a good fit for social and copy traders. Both AvaTrade and IC Markets are suitable for beginners and experts.

The only difference is that, unlike Avatrade, IC Markets does allow changing leverage.

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

Deposit and Withdrawal

The Avatrade vs IC Markets review shows that deposit processes on AvaTrade and IC Markets are quick and simple.

Our experience with withdrawal on Avatrade was mixed. We faced some issues with our initial withdrawal request, but it was resolved as soon as possible, also deposit via debit card was not instant. It showed “pending” for 3 hours.

We didn’t face any challenges during the deposit and withdrawal processes with IC Markets.

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

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.

Important to mention, that IC Markets charges an AUD $20 fee for international bank transfers withdrawal.

AvaTradeIC Markets
💰 Deposit Fee❌❌
💰 Withdrawal fee❌❌(with an exception)
💳 Minimum depositUS$100US$200
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️

Trading Platform

Both AvaTrade and IC Markets offer their clients popular MetaTrader4 and MetaTrader5 platforms, traders can get access those platforms via desktop, mobile, or web. IC Markets also offers the cTrader platform as well as copy-trading systems attached to each platform.

In contrary to IC Markets, AvaTrade offers its clients a proprietary web-based platform WebTrader, also AvaTradeGo for mobile trading, and AvaOptions for forex vanilla options.

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.

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 to social/copy trade.

AvaTrade PlatformIC Markets 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

Both AvaTrade and IC Markets offer excellent trading educational materials for new traders. The customer service team was quite helpful and gave us direct but sometimes inaccurate answers to our questions.

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.

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.

AvaTrade SupportIC Markets 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 IC Markets

Summing up our AvaTrade vs IC Markets review, we came to the point that both brokers are safe to trade and highly reliable.

Both brokers provide excellent trading conditions to their clients with a wide range of instruments, with a slight difference that AvaTrade does not allow change leverage. However, bonds and ETFs traders have to choose AvaTrade since IC Markets does not provide trading with these markets.

In contrast to IC Markets, AvaTrade fees are mostly built into spreads with no commission fee, only Raw Spread Account charges commissions. However, AvaTrade charges an inactivity fee, while IC Markets does not have non-trading fees.

We didn’t face any deposit and withdrawal issues with IC Markets, but there’s was an issue on AvaTrade with our initial withdrawal which was quickly resolved by the excellent customer support after all.

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.

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.

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