IC Markets vs easyMarkets Which One Is Best?

2. Better Trading Platform: IC Markets

MetaTrader 4 is available on IC Markets and easyMarkets. IC Markets also offers another common platform in cTrader while easyMarkets offers their custom platform, which is called ‘easyMarkets’.

MetaTrader 4

MT4 is one of the most well-regarded forex trading platforms and is available with many brokers. MetaTrader 4 has the following benefits:

• Simple and straightforward interface with order management functionality that allows for fast ordering.
• Expert Traders (EA) facility for algorithmic trading. EAs are not offered on easyMarkets’ own platform.
• Offered by most brokers, which means there low barriers to switching to other brokers using the same platform.

Advanced Trading Tools With IC Markets 

Advanced Trading Tools enhancement product gives traders extra trading features. To access these features, you need to be using the MetaTrader platform. Advanced Trading Tools contains some 20 features that traders of all types will certainly benefit from:

• Alarm Manager – allows for alerts and notifications of important trading events
• Connect – a portal that provides a calendar with economic events of interest and news feeds
• Correlation Matrix – to help traders so they can determine correlations between assets and other markets
• Correlation Trader – to assist traders with finding similarities and differences between different markets
• Excel RTD – for analysis, monitoring and reporting through the use of Excel
• Market Manager– so that information from insights into existing orders, orders that are pending, and current market prices can be explored
• Sentiment Trader – live sentiment data is provided to help with trade decisions
• Stealth Orders – Used to hide your pending orders so other traders cannot copy your trading
• Trade Simulator– This helps you forecast likely profit and loss expectations using proven strategies
• Session Map– a map listing when markets are open throughout the world
• Trade Terminal– a screen showing a range of trading information on one screen
• Smart Lines –  Profit and stop-loss positions are demonstrated via graphs and charts.

MetaTrader 5

This platform is an upgrade on MT4. While MT4 continues to be more popular, MT5 will become the primary platform made by MetaQuotes in time. This is because MT5 offers all the features MT4 offers and more. MetaQuotes have announced they will cease the development of new features for MT4, which is a good reason to start getting familiar with MT5.

cTrader

cTrader is a competitor to MT4. It performs many of the same functions MT4 does when it comes to trading but has a few different features. One useful feature is enhanced interface customisation and more advanced charting.

Overall, IC Markets offers a choice of platforms. If MT4 is chosen, traders have access to a wealth of tools to enhance the user’s trading experience.

The easyMarkets Forex Trading Platforms

easyMarkets has an in-house developed custom platform called ‘easyMarkets’. It offers a few unique features not offered by IC Markets.

• dealCancellation (see risk management section for explanation)
• No Slippage (see risk management section for explanation)
• Freeze Rate
• Guaranteed pending orders (see risk management section for explanation)
• Trading of foreign exchange and contracts for different products right within its platform

Overall, the easyMarkets platform’s key strength and point of difference are the ‘risk management’ tools offered.

Our Better Trading Platform Verdict

If you are a trader who prefers to minimise risk, the easyMarkets platform offers useful risk management tools. We like IC Markets because we feel all traders will benefit from the in-depth tools they provide.

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

The following account types are offered by easyMarkets: VIP, Premium and Standard.  Accounts are very similar, but better spreads are offered with accounts requiring a higher deposit.

For Clients Outside The UK And Europe

For Clients In The UK And Europe

IC Markets Raw Account

• Lots trade size option range – 0.01/ 100 lots
• USD$7 commission for roundtrip swaps ($3.5 each way)  applied for every 100k of volume traded
• IC Markets minimum deposit for Raw accounts is $200
• Spreads start at 0.0
• 1:500 Leverage (FSA branch) and 30:1 (ASIC and CySEC)
• Currency Pairs available = 64
• liquidity providers = 50
• Scalping
• Expert Advisors (EAs)
• Hedging

Our Superior Accounts and Features Verdict

IC Markets forex broker provides ECN accounts with narrower spreads and lower deposit requirements. We suggest considering IC Markets for your forex trading needs.

IC Markets ReviewVisit IC Markets

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

4. Best Trading Experience And Ease: Tie

Having dived deep into the trading platforms of both IC Markets and easyMarkets, we’ve noticed some distinct differences that set them apart. IC Markets, for instance, offers the renowned MT5 platform, which our testing data also ranks as one of the best.

This platform provides traders with a seamless experience, advanced charting tools, and a user-friendly interface. On the other hand, easyMarkets has a custom platform that comes with unique features tailored to cater to both beginners and experienced traders.

• IC Markets offers MT5, known for its advanced functionalities and ease of use.
• easyMarkets’ custom platform provides unique risk management tools, enhancing the trading experience.
• Our testing data ranks IC Markets’ standard account among the best, ensuring a smooth trading journey.
• Both platforms prioritise user experience, ensuring traders have all the tools they need at their fingertips.

Our Best Trading Experience and Ease Verdict

In our journey of exploring various platforms, it’s evident that both these brokers have invested significantly in ensuring their users get the best trading experience possible. Whether you’re a newbie or a seasoned trader, both platforms cater to your needs, ensuring ease of use and efficiency.

easyMarkets ReviewVisit easyMarkets

5. Stronger Trust And Regulation: IC Markets

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High leverage can result in major earnings (even for minor price changes in currency spreads), provided price moments are in your favour. While the temptation to take advantage of the High Leverage Forex Brokers is great, leverage can also result in large losses. While high leverage might seem appealing, it needs to be used wisely.

Both brokers are regulated by the Australian Securities and Investments Commission (ASIC) in Australia and the Cyprus Securities and Exchange Commission (CySEC) in Europe. In these jurisdictions, the brokers offer the maximum allowable leverage of the ASIC and CySEC permit:

• Major currency pairs 30:1
• Minor currency pairs 20:1

Both brokers offer higher leverage via their offshore regulated entities. IC Markets operates globally through a subsidiary regulated in the Seychelles (FSA), where 500:1 leverage is permitted. easyMarkets has a subsidiary in the British Virgin Islands (FSC) where the broker is allowed to offer a maximum forex of 400:1.

Our Stronger Trust and Regulation Verdict

If choosing a broker based on leverage, then choose IC Markets global branch overseen by the FSA where 500:1 leverage is available. Both brokers’ tier-1 regulated entities are restricted to 30:1 forex leverage.

IC Markets ReviewVisit IC Markets

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

6. Most Popular Broker – IC Markets

IC Markets gets searched on Google more than easyMarkets. On average, IC Markets sees around 246,000 branded searches each month, while easyMarkets gets about 49,500 — that’s 79% fewer.

Country	IC Markets	easyMarkets
United Kingdom	33,100	390
South Africa	9,900	720
India	8,100	1,600
Vietnam	8,100	590
Thailand	8,100	140
Australia	6,600	2,400
United States	6,600	1,900
Spain	6,600	390
Germany	5,400	590
Pakistan	5,400	480
Brazil	4,400	3,600
France	4,400	1,000
United Arab Emirates	4,400	210
Morocco	4,400	170
Italy	3,600	18,100
Malaysia	3,600	880
Indonesia	3,600	480
Nigeria	3,600	390
Colombia	3,600	320
Singapore	3,600	210
Poland	2,900	320
Sri Lanka	2,900	90
Philippines	2,400	480
Mexico	2,400	320
Kenya	2,400	260
Canada	2,400	210
Algeria	2,400	210
Hong Kong	2,400	170
Netherlands	2,400	170
Bangladesh	1,900	260
Saudi Arabia	1,900	170
Egypt	1,600	590
Peru	1,600	140
Switzerland	1,600	110
Japan	1,300	1,000
Argentina	1,300	170
Turkey	1,300	140
Sweden	1,300	110
Uzbekistan	1,000	390
Taiwan	1,000	90
Dominican Republic	1,000	70
Portugal	1,000	70
Ecuador	1,000	50
Cyprus	880	590
Ghana	880	70
Ireland	880	50
Greece	720	390
Austria	720	110
Chile	720	90
Venezuela	720	40
Uganda	720	40
Ethiopia	720	30
Mongolia	720	10
Jordan	590	50
Mauritius	480	10
Costa Rica	390	90
Tanzania	320	50
Panama	260	70
Botswana	260	50
Bolivia	260	20
New Zealand	210	140
Cambodia	170	140

2024 Monthly Searches For Each Brand

IC Markets - UK	33,100 1st
easyMarkets - UK	390 2nd
IC Markets - ZAF	9,900 3rd
easyMarkets - ZAF	720 4th
IC Markets - Australia	6,600 5th
easyMarkets - Australia	2,400 6th
IC Markets - US	6,600 7th
easyMarkets - US	1,900 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. 296,000 for easyMarkets.

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’

7. Top Product Range And CFD Markets: IC Markets

Regarding the range of products and CFD markets, both IC Markets and easyMarkets have unique features. IC Markets, as we’ve observed, offers a comprehensive range of trade options, making it an all-in-one broker for many traders. Their portfolio covers a wide spectrum, ensuring traders have multiple avenues to explore.

On the other hand, easyMarkets, while not as extensive as IC Markets in terms of the CFD suite, does offer a solid range of trading options. One standout feature of easyMarkets is its vanilla options, a distinct difference from the futures offered by IC Markets.

Our Top Product Range and CFD Markets Verdict

Based on the range of CFDs and markets available, IC Markets offers a more comprehensive product range, making it the preferred choice for traders looking for diverse trading options.

IC Markets ReviewVisit IC Markets

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

8. Superior Educational Resources: IC Markets

In the realm of forex trading, continuous learning is paramount. Both IC Markets and easyMarkets understand this and have invested in providing top-notch educational resources for their users.

IC Markets, for instance, offers a plethora of webinars, video tutorials, and articles that cater to both beginners and seasoned traders. easyMarkets, on the other hand, has a structured educational suite that guides traders through the basics to more advanced topics.

• IC Markets provides a series of webinars that cover a wide range of trading topics.
• easyMarkets offers structured courses that guide traders step-by-step.
• Both brokers have a rich library of video tutorials to enhance visual learning.
• IC Markets boasts an extensive collection of articles that dive into intricate trading strategies.
• easyMarkets provides a glossary, ensuring traders understand the jargon used in the industry.
• Both brokers offer demo accounts, allowing traders to practice and hone their skills.

Our Superior Educational Resources Verdict

Based on our testing, IC Markets stands out with a more comprehensive educational suite, making it the top choice for traders keen on continuous learning.

IC Markets ReviewVisit IC Markets

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

9. Superior Customer Service: IC Markets

The standard phone, online chat and email tools are available for customer service with both IC Markets and easyMarkets.

IC Markets Customer Service

IC Markets’ customer service team have several selling points that make it stand out compared to easyMarkets. These consist of:

• 24/7 customer service – accessible throughout the week regardless of whether the market is open or closed.  ECN allows for trading at all hours so this availability can be helpful.
• Help Centre – Keyword search will suggest possible answers to the information you need.
• Emails – IC Markets provide the email address of their departments so you can address questions.

Customer Service With easyMarkets

easyMarkets only offer customer 24/5. The instant live chat function is available via their website and through trading platforms. Facebook Messenger and Viber messenger services can also be used to get in touch with easyMarkets. Clients in Australia can use a toll-free 1300 number when phoning in for support.

easyMarkets has a FAQs page listed under the educational resources, which are very helpful when seeking answers to common questions.

Those considering a Standard account or Premium account should note that access to a few features is not available. The table on the right shows the customer service features offered for each account.

Our Superior Customer Service Verdict

Both brokers offer excellent customer service; however, IC Markets is available for all traders throughout the week. This makes it best for all traders.

IC Markets ReviewVisit IC Markets

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

10. Better Funding Options: Tie

When analysing IC Markets and easyMarkets funding methods, we found that easyMarkets has a larger range of payment issuers and that these accounts don’t have fees. Traders in Australia should note that some of the payment issuers are not available in Australia, so it may not be of interest if you are trading from Australia.

IC Markets

The following methods are available with IC Markets to manage your funding. Credit and Debit Cards, Bank Wire Transfers, broker-to-broker transfers, Branch Cash Deposits, BPay Deposits, PayPal, Skrill, Neteller, WebMoney, QIWI, China Union Pay, and FasaPay. These deposits are usually instant with no fee charges for both IC Markets Account Types.

Domestic withdrawals are processed on the same day, and no fee is charged for this service. International withdrawals can take a maximum of 5 weekdays and have a charge of $25 AUD.

easyMarkets

All funds with easyMarkets are held segregated with Bankwest. ‘Bankwest’ is owned by CBA (Commonwealth Bank of Australia).

easyMarkets has a minimum withdrawal of $50 USD from bank accounts. e-Wallets and credit/debit card withdrawals do not require a minimum amount.

The table below demonstrates all the funding methods and their fees:

Our Better Funding Options Verdict

Neither IC Markets nor easyMarkets have fees for funds coming in or going out. Traders will need to decide which merchant they wish to use for funding and then check which broker offers their service.

easyMarkets ReviewVisit easyMarkets

11. Lower Minimum Deposit: IC Markets

When it comes to starting your trading journey, the initial deposit can be a significant factor. A lower minimum deposit allows new traders to begin trading without committing a large sum, making the platform more accessible to a broader audience. IC Markets and easyMarkets have competitive minimum deposit requirements, catering to novice and experienced traders.

The table below provides a quick comparison of the minimum deposit amounts required by each broker:

It’s essential to note that while a lower minimum deposit can be enticing, traders should also consider other factors, such as the platform’s features, customer support, and overall trading experience. A broker’s reputation and reliability are just as crucial as the initial cost of entry.

Our Lower Minimum Deposit Verdict

IC Markets offers a more accessible entry point with a $0 minimum deposit, making it the preferable choice for traders looking to start with a lower initial investment.

IC Markets ReviewVisit IC Markets

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

Is IC Markets or easyMarkets The Best Broker?

IC Markets is the winner because of its superior features in several categories, including lower spreads and fees, a better trading platform, and a more comprehensive product range. The table below summarises the key information leading to this verdict:

easyMarkets: Best For Beginner Traders

easyMarkets is better suited for beginner traders due to its user-friendly platform, fixed spreads, and unique risk management tools that provide a more predictable trading environment.

IC Markets: Best For Experienced Traders

IC Markets stands out for experienced traders with its ECN pricing, tighter spreads, advanced trading platforms, and a broader range of CFDs and markets available.