Our comprehensive comparison of Admiral Markets vs IC Markets dissects key areas like trading costs, Forex trading platforms, and regulations to help you choose the right Forex broker.
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Our comprehensive comparison covers the 10 most important trading factors between Admiral Markets and IC Markets. Here are five key differences:
Standard Accounts Spreads (No Commission)
When it comes to standard account spreads, there’s a clear difference between Admirals and IC Markets. Let’s take a closer look.
Admirals offers competitive spreads across various forex pairs. For instance, the EUR/USD spread is just 0.6, while the AUD/JPY spread is 2.2. These numbers are quite impressive, and they show that Admirals is committed to providing cost-effective trading options for its clients.
On the other hand, IC Markets offers even lower spreads. The EUR/USD spread is a mere 0.62, and the AUD/JPY spread is 1.5. These numbers are hard to beat, and they make IC Markets an attractive option for traders who prioritize low spreads.
Now, let’s compare these numbers to the industry average. The industry average for EUR/USD is 1.18, and for AUD/JPY, it’s 2.09. Both Admirals and IC Markets offer spreads that are significantly lower than these averages. This means that both brokers offer excellent value for money.
| Forex Pair | Admirals | IC Markets | Industry Average |
|---|---|---|---|
| EUR/USD | 0.6 | 0.62 | 1.18 |
| USD/JPY | 1 | 0.74 | 1.37 |
| GBP/USD | 1 | 0.83 | 1.51 |
| AUD/USD | 1 | 0.77 | 1.41 |
| USD/CAD | 1.6 | 0.85 | 1.70 |
| EUR/GBP | 1 | 1.27 | 1.56 |
| EUR/JPY | 1.5 | 1.3 | 1.85 |
| AUD/JPY | 2.2 | 1.5 | 2.09 |
However, if I had to choose one, I’d lean towards IC Markets. Their spreads are consistently lower across all forex pairs, which can lead to significant savings in the long run. But remember, spreads are just one factor to consider when choosing a forex broker. Make sure to consider other factors, such as trading platform, customer service, and regulatory status, before making your decision.
Commission Accounts
If you are after the lowest possible spreads, IC Markets is among the best of all brokers across many currency pairs. Spreads from IC Markets range from 0.2 to 0.8 pips, superior to Admiral Markets. This is because IC Markets uses an ECN pricing model. What this means is IC Markets connects you with over 50 banks and a dark pool of liquidity providers and aggregates these prices to bring you the best possible spreads. This is known as “True ECN” as there is no dealing desk or human intervention even though IC Market makes their own market.
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Commission Account Spreads
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|---|---|---|---|---|---|
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0.17 | 0.50 | 0.27 | 0.30 | 0.23 |
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0.50 | 1.10 | 0.60 | 0.80 | 0.60 |
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0.20 | 0.60 | 0.40 | 1.00 | 0.60 |
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0.05 | 0.36 | 0.19 | 0.23 | 0.09 |
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0.20 | 0.50 | 0.30 | 0.50 | 0.30 |
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0.20 | 0.50 | 0.40 | N/A | 0.50 |
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0.50 | 0.60 | 0.50 | 0.50 | 0.60 |
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0.50 | 0.70 | 0.60 | 0.40 | 0.20 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2024
Verdict
For non-commission accounts, both brokers offer competitive spreads, with Admiral Markets only slightly outperforming IC Markets. For commission accounts, IC Markets offers some of the best spreads among brokers that use an STP or ECN pricing model. The comparison tables show the level of distinction between the broker spreads and indicate that IC Markets are superior in this area.
View IC Markets ReviewVisit IC Markets
Both IC Markets and Admiral Markets are MetaTrader 4 and 5 specialists; however, IC Markets also have cTrader and a greater choice of social trading tools.
MetaTrader Trading Platforms
MetaTrader 4 and 5 are sophisticated trading platforms developed by MetaQuotes. The MetaTrader platforms are available for download on PC or Mac as a WebTrader as well as mobile iOS and Android. MetaTrader 4 is widely considered the best forex trading platform around the world and has a wider community and marketplace, however, it lacks the variety of features and products that its successor MetaTrader 5, offers.
MetaTrader 4
MetaTrader 4 is the most commonly used trading platform across the globe and is suitable for traders of all levels. Reasons to choose MT4 include
MetaTrader 5
MetaTrader 5 is the updated version and is equipped with some additional extras, including:
cTrader Trading Platform
cTrader is an alternative forex trading platform that is also extremely popular for trading the forex market. Along with superior technical charting options and faster trade execution, cTrader offers:
Social Trading Platforms
IC Markets offers a choice of social trading or copy trading platforms, some of which can be integrated with MetaTrader platforms. Admiral Markets do not offer any social trading tools however may allow you to integrate 3rd party platforms via API.
IC Markets offers the following social trading tools – MyFxBook AutoTrade and ZuluTrade, cTrader Copy, MT4 signals and MQL5 signals.
Verdict
Admiral Markets offers the MetaTrader 4 and MetaTrader 5 trading platforms for trading; however, it does not offer cTrader. IC Markets connects to MetaTrader 4, MetaTrader 5, and cTrader. Therefore, if you are trading on the MetaTrader 4 or MetaTrader 5 platform, either broker will do. However, if you are set on trading with cTrader, IC Markets is the more suitable choice.
Admiral Markets Account
Admiral Markets offers two account types: Trade Account and Zero Account. The Trade Account allows you to trade with no commission fees, while the Zero Account offers extremely tight spreads using straight-through processing (STP) trading execution. Admiral Markets also offers an Islamic Account for Islamic traders.
Trade Account
Admiral Markets Trade Account is a standard account, which means it has no commission costs. If you are new to trading, this type of cost structure may appeal as including trading costs in the spread means a simpler cost structure. This account has an average minimum spread of 0.5 pips (which is their average minimum spread across all currency pairs Admiral Market offers); however, spreads are typically higher.
There are two types of Zero accounts. Trade.MT4 and Trade.MT5. Choosing MT5 means you will use the MetaTrader 5 Trading Platform and have access to a larger range of trading instruments.
Zero Account
The Zero Account differs from the Trade account in that it has a commission cost structure. This account has scaled commission costs, which means if you are a high-volume trader, you will pay less commission for each trade in the following calendar month. Commission costs range from USD $3.20 to $6.00 round-turn.
You may find the Zero Account more suitable if you are an experienced trader. The use of commissions means tighter spreads (than the standard account). One limitation of the Zero Account is the range of CFDs less than with the Trade account.
Admiral Markets Account Comparison
The following table is a summary of the features associated with the Trade Account and Zero Account.
IC Markets Account Types
IC Markets, like Admiral Markets, also has two main account types: Standard Account and Raw Spread Account (ECN Account). The Standard Account charges no commission but does present larger spreads, while the Raw Spread Account uses electronic communication network (ECN) pricing with a small commission.
Standard Account
The Standard Account allows you to trade with no commission fees but offers larger spreads. A flat 1.0 pip is added to the spread for all currency pairs. The Standard Account is available on the MetaTrader 4 and 5 forex trading platform.
Raw Spread Account
The Raw Spread Account uses an ECN pricing model to bring you IC Market’s lowest spreads. To keep spreads ‘true’ to prices, liquidity providers are seeking, IC Markets charges commissions meaning the spread is not widened. These commission costs are $7.00 round-turn for each standard lot you trade. If you are looking for IC Markets’ best spreads, then the RAW account is the choice we recommend.
IC Markets offers over 60 currency pairs and 6 other types of CFDs, including commodities, indices, bonds, cryptocurrencies, stocks and futures. A far greater range than the Admiral Markets Zero account offers.
The following tool can be used to estimate the trading costs associated with using the IC Markets Raw Spread Account.
Calculate Your Trading Costs Below
Total Fees
Commission
Spread Costs
Total
IC Markets Account Comparison
The table below summarises the features presented within the Standard Account and Raw Spread Account.
Verdict
Both brokers offer standard and ECN-style account types, making them suitable choices for traders of all experience levels. If you are looking for a Standard account, then Admiral Markets is the recommended choice, as their spreads are lower.
If you are looking for ECN pricing, then the decision is a bit tougher, IC Markets offers a greater choice of forex currency pairs and CFDs, and these are available regardless of which trading platform you choose. The only reason one might choose Admiral Markets is if you are a high-volume trader, which presents the possibility of reduced commissions.
When it comes to trading experience and ease, both Admiral Markets and IC Markets have their strengths. From our own testing and the data we’ve gathered, it’s evident that both brokers have invested significantly in ensuring traders have a seamless experience.
Having said that, it’s essential to remember that the best trading experience is subjective and varies from trader to trader. What works for one might not work for another. It’s all about finding the right fit for your trading style and needs.
Verdict
Based on our analysis and testing, IC Markets slightly edges out Admiral Markets in offering the best overall trading experience.
Admiral Markets Trust Score
IC Markets Trust Score
Admirals are regulated by three ‘tier 1’ regulators and one ‘tier 3’ regulator as follows:
We shortlisted Admirals, but the broker wasn’t featured on our best UK forex trading platform list.
IC Markets is regulated by two ‘tier 1’ regulators and two ‘tier 3’ regulators as follows:
IC Markets came 5th on our Best Australian forex trading platform list.
| Admiral Markets | IC Markets | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) |
ASIC (Australia) CYSEC (Cyprus) |
| Tier 2 Regulation | ASIC (Australia) FCA (UK) CYSEC (Cyprus) CIRO (CANADA) |
|
| Tier 3 Regulation | FSA-S (Seychelles) CMA (Kenya) JSC FSCA (South Africa) |
FSA-S (Seychelles) SCB (Bahamas) |
Verdict
It’s tight when it comes to regulation, but with an extra ‘tier 1’ regulator, we gave this category to Admirals. The company is also older founded in 2001 compared to IC Markets, which was founded five years later in 2006. A final element that sealed the trust factor is the fact Admirals is that it’s listed on the Nasdaq Baltic while IC Markets is privately funded. So in summary, Admirals win this category.
A large variety of financial products is an important consideration when choosing a broker. It will allow you to diversify your trading and investment exposure to various global markets. Both Admiral Markets and IC Markets offer a good range of financial products.
Forex Currency Pairs
Admiral Markets offer less than 50 forex currency pairs. Although this is relatively low, most of the commonly traded major, minor, and exotic currency pairs are available, such as USD, EUR, AUD, CAD, GBP, CHF, JPY, and NZD. IC Markets offers 64 forex currency pairs so if you are looking for a large choice of forex pairs to choose from, then IC Markets is the way to go.
| More than 60 currency pairs | 40 to 59 currency pairs | Less than 40 currency pairs |
|---|---|---|
| Pepperstone | Admiral Markets | FXCM |
| IC Markets | XM | ThinkMarkets |
| City Index | XTB | HANTEC |
| easyForex | eToro | Traders' Way |
| Forex.com | FP Markets | |
| FxPro | Hugo's Way | |
| HYCM | ||
| Fusion Markets | ||
| IG | ||
| Oanda | ||
| Saxo | ||
| CMC Markets | ||
| Interactive Brokers | ||
| Plus500 |
Admiral Markets CFD Range
The following table lists the available CFDs and complex instruments through Admiral Markets on both the Trade Account and Zero Account, including:
When choosing an account with Admiral Markets, it is important to consider if you prefer standard or ECN style trading and what types of platforms, as the available CFDs will differ between accounts.
IC Markets CFD Range
IC Markets have an advantage over Admiral Markets in that they allow all CFDs to be traded for both accounts and all trading platforms. CFDs available include:
Verdict
Both Admiral Markets and IC Markets have an attractive range of financial products and would both be a suitable choice if you are looking for diversification with a CFD broker. With far more forex currency pairs and a slightly broader range of other CFDs, including crypto, IC Markets is more appropriate if you are looking to take your trading to the next level.
When it comes to educational resources, both Admirals and IC Markets have made significant efforts to provide their traders with the tools and knowledge they need to succeed. Here’s a breakdown of what each broker offers:
Admirals:
IC Markets:
Verdict
Based on our team’s testing and the scores provided, Admirals offers a slightly superior educational resource package compared to IC Markets. Traders looking for a comprehensive educational suite might find Admirals more suitable for their needs.
Admiral Markets offers very useful customer support features such as contact messaging, FAQ, and a glossary. However, the customer service is Europe-centric, meaning if you are not within the Eurozone, you may potentially have to wait a while for a chat reply, and support hours are only 25/5. As a global broker, Admiral Markets is contactable through Twitter, Facebook, and Telegram using multiple languages, emails and website inquiry submissions are also available.
IC Markets also has a sophisticated 24/7 support system with local support coming from Sydney, Australia. Clients can contact IC Markets customer support through email, Skype, or phone. The live chat is considerably responsive, and the help centre covers a wide variety of queries.
Educational Resources And Analytics
Admiral Markets offers an array of educational resources and analytical tools to help clients understand how CFDs work. These include:
IC Markets also offers a comprehensive selection of useful tools and resources:
Verdict
While Admiral Markets encourage learning and training, IC Markets are more renowned for their superior level of customer service and support. The additional features, trading tools, social trading, and analytical features also make IC Markets the better choice for an online broker.
Admiral Markets offers a wide range of free funding methods with bank transfer, Klarna, Visa and MasterCard, PayPal, Bitcoin, credit card, SafetyPay, Przelewy, iBank&BankLink, and iDEAL. For a small fee, funding can also be done through Skrill and Neteller. Admiral Markets charges no additional fee for opening a trading account but charges an inactivity fee of 10 AUD/USD/EUR per month.
IC Markets also accept a variety of funding methods, such as Skrill, PayPal, Neteller, Bpay (for AUD), UnionPay (for RMB), Rapidpay, and Klarna (for GBP). Withdrawals have no fees attached to IC Markets, and there is no inactivity fee.
When choosing a funding method, you will need to check if this service is available in your country.
| IC Markets | Minimum Deposit | Admiral Markets | Minimum Deposit | |
|---|---|---|---|---|
| Bank transfer | ✓ | 20 International withdrawals | ✓ | 0 |
| Bitcoin | ✓ | 50 USD | ||
| BPay | ✓ (Australia Only) | |||
| iBank&BankLink | ✓ (Estonia, Lithuania, Latvia) | 10 EUR | ||
| iDEAL | ✓ (UK, Europe) | 50 EUR | ||
| Klarna | ✓ | ✓ (UK, selected Europe counties) | 50 EUR ,GBP | |
| Mastercard | ✓ | ✓ | 75 AUD, 50 USD, 50 EUR, 50 GBP | |
| Neteller | ✓ (Australia only) | ✓ | 75 AUD, 50 USD, 50 EUR, 50 GBP | |
| PayPal | ✓ (UK, Spain, Italy, France, Australia and selected other countries) | 5 (Deposit and Withdrawal) | ✓ (UK, Europe) | 50 EUR, 50 USD 50 GBP, 75 AUD, 80 SGD |
| POLi | ✓ (Australia Only) | ✓ | 75 AUD | |
| Rapidpay | ✓ | |||
| Przelewy | ✓ (Poland) | 50 PLN | ||
| SafetyPay | ✓ | 50 USD, 50 EUR | ||
| Skrill | ✓ (Australia Only) | ✓ | 75 AUD, 50 USD, 50 EUR, 80 SGD | |
| Union Pay | ✓ | |||
| Visa | ✓ | ✓ | 75 AUD, 50 USD, 50 EUR, 50 GBP |
Verdict
Both brokers offer an exceptional range of funding methods, including the most commonly used Visa and MasterCard, Skrill, PayPal, Neteller, credit card, and POLi.
Admiral Markets has a lower minimum deposit of $100 or equivalent for major currencies vs $200 from IC Markets. Although a smaller deposit amount isn’t a significant difference, it can be a nice option for those starting out in trading.
| Minimum Deposit | Recommended Deposit | |
| Admiral Markets | $100 | $100 |
| IC Markets | $200 | $200 |
Verdict
Admiral Markets provides beginner traders a good option with its lower minimum deposit requirement. IC Markets, however, does shine in other categories as well.
IC Markets is the winner because of its comprehensive educational resources, superior customer service, and competitive spreads and fees. The table below summarises the key information leading to this verdict:
| Criteria | Admiral Markets | IC Markets |
|---|---|---|
| Lowest Spreads And Fees | ❌ | ✅ |
| Better Trading Platform | ❌ | ✅ |
| Superior Accounts And Features | ✅ | ✅ |
| Best Trading Experience And Ease | ❌ | ✅ |
| Stronger Trust And Regulation | ✅ | ❌ |
| Top Product Range And CFD Markets | ✅ | ✅ |
| Superior Educational Resources | ✅ | ❌ |
| Superior Customer Service | ❌ | ✅ |
| Better Funding Options | ✅ | ✅ |
| Lower Minimum Deposit | ✅ | ❌ |
Admiral Markets is the ideal choice for beginner traders due to its extensive educational resources and user-friendly platform.
IC Markets stands out for experienced traders because of its advanced trading tools and diverse product range.
IC Markets generally offers lower costs compared to Admiral Markets. They are renowned for their competitive spreads, often starting from as low as 0.1 pips. For a detailed comparison of broker spreads, you can visit our lowest spread analysis. This data-driven approach provides a clearer picture of which broker offers the best value for traders.
Both IC Markets and Admiral Markets offer MetaTrader 4, but IC Markets is often preferred for its advanced tools and customisation options. Their MT4 platform is equipped with superior charting tools and a wider range of indicators. For traders specifically looking for the best MT4 experience, our comprehensive MT4 broker guide can be a valuable resource.
IC Markets offers social trading features, allowing traders to copy strategies from experienced traders. Social trading has become a popular way for new traders to learn and for experienced traders to share their strategies. If you’re interested in exploring more about social trading platforms, check out our best forex social trading platform analysis. It provides insights into the top platforms offering these features.
Admiral Markets offers spread betting, allowing UK traders to take advantage of tax benefits associated with this form of trading. Spread betting is a unique way to trade the financial markets without owning the underlying asset. For those interested in diving deeper into spread betting and finding the best brokers, our comprehensive spread betting guide is a great place to start.
In my opinion, IC Markets is the superior choice for Australian Forex traders. They are ASIC regulated, ensuring a high level of trust and security for traders. Founded in Australia, IC Markets understands the specific needs of Aussie traders. Their platform offers a wide range of assets and is known for its reliability. For a more detailed look at the best brokers in Australia, you can check out our Australian Forex brokers analysis.
Personally, I believe Admiral Markets stands out for UK Forex traders. They are FCA regulated, which provides an added layer of security for traders in the UK. While they might not be founded in the UK, their strong regulatory framework and commitment to transparency make them a top choice. For those wanting to explore more about the best trading platforms in the UK, our UK trading platform guide offers valuable insights.
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