IC Markets is regulated by ASIC and CySEC, TradersWay is unregulated. Both forex brokers have MetaTrader 4 and 5 but IC Markets has superior platforms and products. This IC Markets vs TradersWay review the brokers
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When it comes to spreads, both Trader’s Way and IC Markets offer competitive rates. Trader’s Way offers variable spreads starting from 0.0 pips on its ECN account, which is ideal for traders who prefer a low-cost trading environment. On the other hand, IC Markets also offers extremely tight spreads, with an average spread of 0.1 pips on the EUR/USD pair on its Raw Spread account. This makes both brokers a good choice for traders who prioritize low spreads.
However, it’s worth noting that spreads can vary depending on market conditions and the type of account you choose. Therefore, it’s always a good idea to check the current spreads before you start trading. Based on our analysis, IC Markets slightly edges out Trader’s Way in this category due to its consistently tight spreads across a wide range of currency pairs.
In terms of commissions, both brokers have different structures. Trader’s Way charges a commission of $2 per 100k traded on its ECN account, while IC Markets charges a commission of $7 per lot on its Raw Spread account. This means that if you’re a high-volume trader, you might find IC Markets to be more cost-effective. However, if you’re a low-volume trader, Trader’s Way’s commission structure might be more suitable for you.
In conclusion, when it comes to spreads and commissions, IC Markets is the clear winner. Its tight spreads and competitive commission structure make it a more cost-effective choice for most traders.
| Broker | Average Spread EUR/USD | Commission per Lot |
|---|---|---|
| Trader’s Way | 0.0 pips | $2 per 100k traded |
| IC Markets | 0.1 pips | $7 |
The trading environment is a crucial factor to consider when choosing a forex broker. Both Trader’s Way and IC Markets offer a conducive trading environment for both beginner and experienced traders. They provide a wide range of trading instruments, high leverage, and advanced trading tools.
Trader’s Way offers a high leverage of up to 1:1000, which can be beneficial for traders with a high-risk tolerance. It also provides a variety of trading instruments, including forex, precious metals, and CFDs on indices, commodities, and energies.
On the other hand, IC Markets offers a lower leverage of up to 1:500. However, it compensates for this with its wide range of trading instruments, including forex, indices, commodities, bonds, futures, and cryptocurrencies. IC Markets also stands out with its superior execution speeds, making it an excellent choice for traders who employ high-frequency trading strategies.
In conclusion, while both brokers offer a conducive trading environment, IC Markets wins this category due to its superior execution speeds and wider range of trading instruments.
| Broker | Maximum Leverage | Trading Instruments | Execution Speeds |
|---|---|---|---|
| Trader’s Way | 1:1000 | Forex, Precious Metals, CFDs | Fast |
| IC Markets | 1:500 | Forex, Indices, Commodities, Bonds, Futures, Cryptocurrencies | Superior |
Both Trader’s Way and IC Markets offer popular trading platforms, including MetaTrader 4 and MetaTrader 5. These platforms are renowned for their advanced trading tools, user-friendly interface, and automated trading capabilities.
Trader’s Way also offers the cTrader platform, which is known for its intuitive interface, advanced charting capabilities, and fast order execution. On the other hand, IC Markets offers the additional option of the cTrader platform, which is popular for its advanced trading tools, superior order execution, and algorithmic trading capabilities.
In terms of platform features, both brokers offer a range of tools for market analysis, including technical indicators, charting tools, and real-time news feeds. They also support automated trading, allowing traders to use Expert Advisors (EAs) to automate their trading strategies.
In conclusion, both brokers offer robust trading platforms that cater to the needs of different types of traders. However, IC Markets slightly edges out Trader’s Way due to its wider range of platform options and advanced trading tools.
| Broker | Trading Platforms | Automated Trading | Technical Analysis Tools |
|---|---|---|---|
| Trader’s Way | MT4, MT5, cTrader | Yes | Yes |
| IC Markets | MT4, MT5, cTrader | Yes | Yes |
Trader’s Way offers three types of accounts: MT4.VAR., MT4.ECN., and MT5.ECN. The MT4.VAR. account is a no-commission account with variable spreads, while the MT4.ECN. and MT5.ECN. accounts are ECN accounts with tight spreads and a commission per trade. All accounts offer high leverage of up to 1:1000 and a minimum deposit of $10.
IC Markets, on the other hand, offers three types of accounts: Standard, Raw Spread, and cTrader ECN. The Standard account offers zero commission trading with spreads from 1 pip, while the Raw Spread and cTrader ECN accounts offer tighter spreads from 0 pips with a commission per trade. The maximum leverage is 1:500, and the minimum deposit is $200.
In conclusion, while both brokers offer a variety of account types to cater to different trading needs, Trader’s Way wins this category due to its lower minimum deposit requirement and higher leverage.
| Broker | Account Types | Minimum Deposit | Maximum Leverage |
|---|---|---|---|
| Trader’s Way | MT4.VAR., MT4.ECN., MT5.ECN. | $10 | 1:1000 |
| IC Markets | Standard, Raw Spread, cTrader ECN | $200 | 1:500 |
Trust and regulation are crucial factors to consider when choosing a forex broker. Trader’s Way is registered in the Commonwealth of Dominica, a country known for its lax regulatory environment. While this doesn’t necessarily mean that Trader’s Way is untrustworthy, it does mean that it’s not subject to the same stringent regulations as brokers in more regulated jurisdictions.
IC Markets, on the other hand, is regulated by the Australian Securities and Investments Commission (ASIC), one of the most respected regulatory bodies in the world. This means that IC Markets is subject to strict regulatory oversight, providing traders with an added layer of security.
In conclusion, IC Markets wins this category due to its strong regulatory oversight.
| Broker | Regulation |
|---|---|
| Trader’s Way | Registered in the Commonwealth of Dominica |
| IC Markets | Regulated by ASIC |
Both Trader’s Way and IC Markets offer excellent customer service. They provide multiple channels of communication, including live chat, email, and phone support. They also offer comprehensive FAQ sections on their websites to help answer common questions.
However, IC Markets stands out with its 24/7 customer support, ensuring that traders can get help whenever they need it. Trader’s Way, on the other hand, offers customer support 24/5.
In conclusion, while both brokers offer excellent customer service, IC Markets wins this category due to its 24/7 customer support.
| Broker | Customer Support | Support Channels |
|---|---|---|
| Trader’s Way | 24/5 | Live Chat,Email, Phone |
| IC Markets | 24/7 | Live Chat, Email, Phone |
When it comes to minimum deposit levels, Trader’s Way offers a lower threshold, with a minimum deposit of just $10 for all account types. This makes it a more accessible option for beginner traders or those with a smaller trading budget. On the other hand, IC Markets has a higher minimum deposit requirement of $200. While this might be a bit steep for some traders, it’s worth noting that IC Markets offers a range of premium features and services that justify this higher deposit requirement.
Both Trader’s Way and IC Markets offer a variety of payment methods, including credit/debit cards, bank wire transfers, and various e-wallets like Skrill and Neteller. This makes it easy for traders to fund their accounts and withdraw their profits. However, it’s worth noting that IC Markets offers a wider range of payment methods, including PayPal, which is not available with Trader’s Way.
In conclusion, when it comes to other trading factors, Trader’s Way wins in terms of minimum deposit levels, while IC Markets wins in terms of payment methods.
| Broker | Minimum Deposit | Payment Methods |
|---|---|---|
| Trader’s Way | $10 | Credit/Debit Card, Bank Wire, Skrill, Neteller |
| IC Markets | $200 | Credit/Debit Card, Bank Wire, Skrill, Neteller, PayPal |
In summary, while both Trader’s Way and IC Markets offer competitive trading conditions and services, IC Markets stands out as the overall winner in this comparison due to its tight spreads, superior execution speeds, strong regulatory oversight, and excellent customer service. However, Trader’s Way is a strong contender, particularly for traders who prefer a lower minimum deposit and higher leverage. As always, it’s important to do your own research and choose a broker that best fits your individual trading needs and goals.
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