IC Markets vs Axi: Which One Is Best?

2. Better Trading Platform – IC Markets

In the industry of forex trading, selecting the right trading platform and broker is crucial to your success. With numerous options available, it’s essential to understand the unique features and offerings of each broker. In this review, we will delve into the details of IC Markets and Axi, focusing on their MetaTrader platforms, advanced trading tools, copy trading features, and overall performance. By comparing these aspects, we aim to provide you with a comprehensive understanding of what each broker has to offer, helping you make an informed decision based on the latest forex trading trends and insights.

We have created a software questionnaire if you are unsure what platform best suits your trading style. Based on six simple questions, we can recommend the best trading software for your trading needs.

MetaTrader

Both IC Markets and Axi offer the widely popular MetaTrader 4 (MT4) platform. IC Markets takes it a step further by also offering MetaTrader 5 (MT5) and cTrader, catering to traders who seek advanced functionalities. MT4 is favored globally for its user-friendly interface, resource efficiency, and flexibility. It supports various trading instruments, including forex, cryptocurrencies, equities, indices, and commodities. Traders can customize MT4 with their own indicators and Expert Advisors (EAs) for algorithmic trading. Both brokers enhance MT4 with additional tools to boost trading efficiency and decision-making.

Advanced Platforms

IC Markets enriches its trading experience with Advanced Trading Tools for MT4, offering 20 features to assist with trade decisions, management, and execution. These tools include Market Manager and Smart Lines, which significantly enhance trading strategies. Axi offers NexGen, an enhancement tool for MT4 that provides advanced order management, sentiment indicators, trade journals, and real-time forex news. NexGen, available for free to all traders, adds invaluable functionalities for both beginner and experienced traders.

Copy Trading

Both IC Markets and Axi support copy trading features. IC Markets provides MetaTrader Signals, ZuluTrade, Myfxbook, and cTrader Copy, along with EAs and the IC Markets Mobile App. Axi also offers MetaTrader Signals, AvaSocial, DupliTrade, EAs, AvaTrade Go, and AvaOptions. These copy trading features allow traders to follow and replicate the strategies of successful traders, thereby enhancing their trading experience and potentially improving their trading outcomes.

IC Markets and Axi both offer robust trading platforms with a range of advanced features. IC Markets stands out with its additional cTrader and TradingView offerings, providing a broader spectrum of tools and EAs. Axi excels with its exclusive platforms and tools like NexGen, catering to different trading needs. Both brokers continue to adapt to the latest trends in forex trading, offering competitive and comprehensive trading solutions to their clients. Whether you prioritize high-speed execution, advanced trading tools, or diverse platform options, IC Markets and Axi have something to offer every trader.

Our Better Trading Platform Verdict

IC Markets takes the crown in this section owing to their better trading platform.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

3. Superior Accounts And Features – IC Markets

When selecting a forex broker, understanding the account features and offerings is crucial to making an informed decision. IC Markets and Axi offer a range of unique account options designed to cater to diverse trading requirements. In this analysis, we will explore their account features, commission structures, standard fees, and the trading platforms available, equipping you with the most current insights and trends in the forex trading industry.

IC Markets and Axi provide unique account features for various trader needs. IC Markets provides a Raw Spreads account with ECN pricing, featuring spreads from 0.0 EUR/USD and a commission of USD$3.5 per 100k traded. Their Standard Account offers ECN + STP pricing, with spreads from 1.0 EUR/USD and no commission. Both accounts support scalping, hedging, and the use of Expert Advisors (EAs). Axi’s Pro Account also boasts ECN trading with spreads from 0.0 EUR/USD and a commission of USD$3.5 per 100k traded on the MetaTrader 4 platform. Their Standard Account offers ECN trading with spreads from 0.0 EUR/USD and no commission. Both accounts support one-click trading and the use of EAs.

IC Markets requires a minimum deposit of USD$200 to open a live account, while Axi has no such requirement. Axi offers one-click trading to speed up executions, and IC Markets provides faster execution through dedicated fibre optic technology. Both brokers support MetaTrader 4 (MT4), with IC Markets also offering MetaTrader 5 (MT5) and cTrader. IC Markets enhances MT4 with Advanced Trading Tools, providing 20 advanced features, while Axi offers NexGen, an enhancement tool for MT4 that includes advanced order management, sentiment indicators, and a trade journal. These features showcase the latest trends in forex trading, highlighting cutting-edge trading tools, rapid execution, and versatile account options.

Our Superior Accounts and Features Verdict

Evidently, IC Markets ranks the highest in this category this is because of their superior accounts and features.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

4. Best Trading Experience And Ease – IC Markets

Introduction

In the industry of forex trading, the quality of the experience and user-friendliness are essential factors. After extensively testing numerous brokers, we’ve uncovered some insightful findings. Both IC Markets and Axi provide a smooth trading experience, yet there are important distinctions to consider.

Trading Experience

IC Markets provides access to MetaTrader 5 (MT5), which our testing reveals to be one of the premier trading platforms available. Its advanced charting technology and sophisticated order management tools deliver a well-rounded trading experience. Axi, renowned for its expertise in MT4, offers a familiar atmosphere for many traders thanks to its powerful features and intuitive interface. The introduction of Axi’s one-click trading feature revolutionizes the trading process by accelerating execution times and significantly improving the overall trading experience.

Account Features

IC Markets distinguishes itself with its Standard Account, recognized as one of the top options in the industry. The broker provides competitive spreads and rapid execution speeds, making it an appealing choice for traders aiming to reduce costs. Our analysis reveals that IC Markets offers the lowest spread, tying with Eightcap, which is a considerable benefit for budget-conscious traders. Conversely, Axi’s dedication to the MT4 platform guarantees an exceptional experience for traders who favor it, featuring benefits such as one-click trading and sophisticated order management tools.

Both IC Markets and Axi offer robust trading platforms and account features that cater to different trading needs. IC Markets excels with its MT5 platform and competitive spreads, while Axi provides a top-notch MT4 experience with innovative features like one-click trading. As the forex trading landscape continues to evolve, both brokers remain committed to providing traders with the best possible tools and resources to succeed.

Our Best Trading Experience and Ease Verdict

Our dedicated team surmises that IC Markets shines in this section due to best trading experience and ease.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

5. Stronger Trust And Regulation – Axi

Axi Trust Score

Trust Score

0

regulation

0

reputation

0

reviews

0

IC Markets Trust Score

Trust Score

0

regulation

0

reputation

0

reviews

0

Trust and regulation are essential factors in selecting a forex broker, and both IC Markets and Axi have established a solid reputation in this domain. They share a trust score of 61, placing them on equal ground as dependable options for traders in search of a secure and well-regulated trading environment. Regulatory oversight plays a vital role in forex trading by ensuring transparency, compliance, and the protection of client funds. Both brokers adhere to the rigorous standards set by the Australian Securities & Investments Commission (ASIC), a premier financial regulator noted for its strict enforcement of financial norms. Furthermore, Axi distinguishes itself through dual regulation under the Financial Conduct Authority (FCA) in the UK, which enhances its credibility and underscores its dedication to safeguarding traders.

Security of funds is a crucial element where both IC Markets and Axi uphold exceptional standards. Client funds are held in segregated accounts to ensure they remain separate from the brokers’ operational finances. IC Markets partners with two major banks—National Australia Bank (NAB) and Westpac—while Axi utilizes NAB exclusively. This practice minimizes the risk of financial mishandling and ensures that traders’ deposits are protected even in the unlikely event of a broker insolvency. Axi provides retail traders with negative balance protection, a vital safety net that safeguards them from losing more than their initial investment during periods of extreme market volatility. In contrast, IC Markets does not offer this crucial feature, which may influence traders seeking enhanced risk management solutions.

Our Stronger Trust and Regulation Verdict

Axi steals the show in this portion due to stronger trust and regulation.

Axi ReviewVisit Axi

*Your capital is at risk ‘71.4% of retail CFD accounts lose money’

Most Popular Broker – IC Markets

IC Markets gets searched on Google more than Axi. On average, IC Markets sees around 246,000 branded searches each month, while Axi gets about 11,000 — that’s 95% fewer.

Country	IC Markets	Axi
United Kingdom	33,100	27,100
South Africa	9,900	2,900
India	8,100	210
Thailand	8,100	4,400
Vietnam	8,100	3,600
Spain	6,600	9,900
Australia	6,600	9,900
United States	6,600	260
Germany	5,400	9,900
Pakistan	5,400	2,400
United Arab Emirates	4,400	3,600
France	4,400	14,800
Brazil	4,400	9,900
Morocco	4,400	880
Italy	3,600	8,100
Singapore	3,600	5,400
Colombia	3,600	3,600
Malaysia	3,600	5,400
Indonesia	3,600	190
Nigeria	3,600	2,900
Poland	2,900	6,600
Sri Lanka	2,900	1,000
Netherlands	2,400	4,400
Mexico	2,400	9,900
Hong Kong	2,400	2,900
Canada	2,400	18,100
Philippines	2,400	9,900
Algeria	2,400	480
Kenya	2,400	720
Saudi Arabia	1,900	2,400
Bangladesh	1,900	1,600
Switzerland	1,600	2,400
Egypt	1,600	2,900
Peru	1,600	2,400
Sweden	1,300	5,400
Argentina	1,300	4,400
Turkey	1,300	9,900
Japan	1,300	449
Portugal	1,000	2,900
Taiwan	1,000	6,600
Dominican Republic	1,000	480
Uzbekistan	1,000	70
Ecuador	1,000	2,400
Cyprus	880	320
Ireland	880	1,300
Ghana	880	720
Greece	720	1,000
Austria	720	1,300
Chile	720	2,900
Venezuela	720	720
Uganda	720	210
Ethiopia	720	720
Mongolia	720	210
Jordan	590	390
Mauritius	480	260
Costa Rica	390	390
Tanzania	320	260
Panama	260	260
Botswana	260	70
Bolivia	260	2,400
New Zealand	210	1,900
Cambodia	170	480

2024 Monthly Searches For Each Brand

IC Markets - UK	33,100 1st
Axi - UK	27,100 2nd
IC Markets - India	8,100 3rd
Axi - India	210 4th
IC Markets - Australia	6,600 5th
Axi - Australia	9,900 6th
IC Markets - Thailand	8,100 7th
Axi - Thailand	4,400 8th

load full table

Similarweb shows a similar story when it comes to February 2024 website visits with IC Markets receiving 2,425,000 visits vs. 993,000 for Axi.

Our Most Popular Broker Verdict

IC Markets is the more popular broker worldwide based on the number of Google branded searches and visits to the website.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

6. Top Product Range And CFD Markets – IC Markets

In the busy and active industry of forex trading, access to a diverse range of financial instruments is essential for traders looking to capitalize on different market conditions. Both IC Markets and Axi provide traders with the ability to trade Contracts for Difference (CFDs), enabling them to speculate on price movements across multiple asset classes without owning the underlying asset. IC Markets possesses a distinct competitive edge by providing an extensive range of CFDs, appealing to traders seeking diverse trading opportunities. As Electronic Communication Network (ECN) brokers, both platforms deliver access to crucial CFD markets, including indices, commodities such as energy and metals, soft commodities like agricultural products, and cryptocurrencies.

For traders interested in the crypto market, IC Markets presents a more extensive selection, including Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, and Ripple, with leverage of 5:1. Axi focuses exclusively on Bitcoin for its cryptocurrency offerings, but it does offer an enticing leverage of 10:1, making it attractive for traders seeking substantial exposure with a lower initial investment. In contrast, IC Markets sets itself apart by providing CFDs on a wider array of assets, including bonds, futures, and stocks—sectors that Axi currently does not cater to. This broader product selection enables IC Markets’ traders to effectively diversify their portfolios, manage risk across various asset classes, and capitalize on global market trends. As the popularity of CFD trading continues to rise, driven by its inherent flexibility and leverage potential, access to a diverse range of instruments becomes a pivotal consideration in choosing the right broker.

Our Top Product Range and CFD Markets Verdict

IC Markets come out on top in this niche owing it to top product range and CFD markets.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

7. Superior Educational Resources – Axi

In the writing style of forex trading, I need you to rephrase in two to three paragraphs, and update and expound content to the latest forex trading information, news, insights and trends. Also, include an introduction of the said topic: In the world of forex trading, education is key. Both IC Markets and Axi understand this and have invested in providing their traders with top-notch educational resources.

Based on our findings and our in-depth testing, here’s a comparison of the educational features from both brokers:
IC Markets: Offers a comprehensive educational section, including webinars, video tutorials, and market analysis. Their resources cater to both beginners and experienced traders.
Axi: Provides a rich educational platform with video tutorials, webinars, and written content. Their focus is on ensuring traders have the knowledge to make informed decisions.
Webinars: Both brokers offer regular webinars, but IC Markets tends to have a more diverse range of topics covered.
Market Analysis: IC Markets provides daily market analysis, giving traders insights into potential market movements.
Trading Tools: Axi offers NexGen, an enhancement tool for MT4 that provides advanced order management, sentiment indicators, and a trade journal.
Beginner-Friendly: Based on our testing, while both brokers cater to beginners, Axi’s educational content is slightly more beginner-friendly.
Diving deeper into our own testing, it’s clear that both brokers prioritise education. However, the nuances in their features can make a difference depending on what a trader is looking for.

Our Superior Educational Resources Verdict

without a doubt, Axi takes the cake in this portion in light of their superior educational resources.

Axi ReviewVisit Axi

*Your capital is at risk ‘71.4% of retail CFD accounts lose money’

8. Superior Customer Service – IC Markets

When choosing a forex broker, customer support plays a crucial role in ensuring a seamless trading experience. Both IC Markets and Axi provide standard support options including live chat, phone, and email. However, IC Markets distinguishes itself with its 24/7 customer support, a significant advantage over most brokers that typically offer assistance only 24/5 during trading hours. This continuous availability is especially valuable for ECN traders who may need help outside regular market hours, including weekends as they prepare for the upcoming trading week. Furthermore, IC Markets boasts a comprehensive Help Centre, allowing traders to easily find answers to common questions, along with direct email support that connects users to specific departments such as Client Relations, Support, Accounts, and Marketing, ensuring that inquiries are resolved promptly and effectively.

Axi, on the other hand, has built a strong reputation for trust and reliability, earning recognition as the “Most Reliable Broker” by AtoZForex.com in 2017. Axi shines with its robust toll-free phone support network, spanning several countries in Australia, Europe, and Asia. Few brokers offer localized phone assistance across such a diverse range of regions, positioning Axi as a go-to option for traders who prioritize immediate, direct communication. As the forex trading landscape continues to evolve, responsive and knowledgeable customer service remains crucial for trader satisfaction. Both brokers excel in this domain, yet they adopt distinct strategies—IC Markets boasts 24/7 availability and dedicated email support, while Axi provides extensive global phone coverage, catering to the varied preferences and needs of traders.

Our Superior Customer Service Verdict

IC Markets is having its moment in the spotlight due to having superior customer service.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

9. Better Funding Options – IC Markets

When it comes to forex trading, the ability to deposit and withdraw funds quickly, securely, and without excessive fees is a key consideration for traders. Funding options can significantly impact a trader’s experience, influencing how efficiently they can manage their capital. Both IC Markets and Axi understand this necessity and have developed a broad range of funding methods to accommodate traders across different regions. From traditional bank transfers to modern e-wallet solutions, these brokers ensure that clients have access to fast and flexible transaction options.

IC Markets stands out by offering instant deposits through credit/debit cards, bank wire transfers, and a variety of e-wallets, ensuring that traders can access their funds without delay. Additionally, their withdrawal process is known for its efficiency, with most requests processed within 24 hours, minimizing downtime for active traders. Axi, while providing a similarly diverse selection of funding methods, places a strong emphasis on transaction security. They support multiple e-wallets, bank transfers, and card payments, ensuring that traders can move funds with confidence. As the forex industry continues to evolve, brokers that offer seamless, low-cost, and secure funding options remain highly favored by traders looking for an uninterrupted trading experience.

Here are four key comparisons of the funding options available from both IC Markets and Axi:

Deposit & Withdrawal Speed

• IC Markets offers instant deposits for most payment methods and processes withdrawals within 24 hours.
• Axi also provides quick deposits but may take slightly longer to process withdrawals compared to IC Markets.

Range of Payment Methods

• IC Markets supports a wider range of funding methods, including credit/debit cards, bank wire transfers, PayPal, Neteller, Skrill, and cryptocurrencies.
• Axi offers credit/debit card transactions, bank transfers, and e-wallets like Neteller and Skrill but does not support PayPal or cryptocurrency funding.

Transaction Fees

• IC Markets does not charge fees for deposits or withdrawals, aligning with its trader-friendly cost structure.
• Axi generally does not charge fees for deposits but may impose withdrawal fees depending on the method and region.

Security & Regulation

• IC Markets ensures fund security by keeping client funds in segregated accounts with top-tier banks like NAB and Westpac.
• Axi follows similar security measures and prioritizes transaction protection, with segregated funds held at NAB for added financial security.

Our Better Funding Options Verdict

Unmistakably, IC Markets steals the throne in this category in light of their better funding options.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

10. Lower Minimum Deposit – A Tie

The minimum deposit requirement is a crucial factor when choosing a forex broker, especially for beginners looking to enter the market without committing significant capital upfront. A lower minimum deposit empowers traders to test their strategies, explore platform features, and manage risks effectively before committing larger sums. Both IC Markets and Axi recognize the significance of accessibility and have designed their deposit policies to accommodate traders of all levels of experience.

IC Markets, renowned for its trader-centric approach, allows both newcomers and seasoned traders to access the markets without financial barriers. Likewise, Axi has established itself as a broker focused on inclusivity, making forex trading more accessible for retail traders.Aligned with the latest trends in the industry, both brokers have adopted a $0 minimum deposit policy, effectively eliminating barriers to entry and allowing traders to start with an amount that aligns with their comfort level. This flexibility not only addresses the increasing demand for affordable trading solutions but also bolsters the reputation of both brokers for transparency and a client-focused approach.

Our Lower Minimum Deposit Verdict

It’s a neck to neck for both IC Markets and Axi due to their lower minimum deposit.

IC Markets ReviewVisit IC Markets

*Your capital is at risk ‘72.53% of retail CFD accounts lose money’

Is IC Markets or Axi The Best Broker?

IC Markets is riding high in this are of expertised thanks to their diverse platforms, competitive spreads, and comprehensive account features. The table below summarises the key information leading to this verdict:

Axi: Best For Beginner Traders

For those just starting out in the trading world, Axi offers a more beginner-friendly environment with its comprehensive educational resources and user-friendly platform.

IC Markets: Best For Experienced Traders

For seasoned traders looking for advanced tools, diverse platforms, and competitive spreads, IC Markets stands out as the top choice.