IC Markets vs Orbex

IC Markets or Orbex – which is better for UK traders 2024? Compare IC Markets and Orbex in this detailed breakdown of their platforms, features and fees.

IC Markets vs Orbex Comparison Table 2024
IC Markets Orbex
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4.8
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2.4
IC Markets is ranked #9 among CFD brokers. Orbex is ranked #97 among CFD brokers.
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries. Founded in 2011, Orbex is an award-winning offshore forex and CFD broker, licensed in Mauritius and the Seychelles. This NDD broker aims to provide clients with transparency, security and market-leading technology. With low trading costs, PAMM accounts and vast education resources, this broker is a popular choice among beginners and expert traders.
Pros
  • IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for traders.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
  • Access additional trading tools to help you make informed decisions, including integrated Trading Central analysis and a free VPS
  • Excellent monthly webinars aimed at various experience levels plus comprehensive educational hub
  • 24/5 multilingual customer support via telephone, email and live chat
  • Instant deposits and withdrawals via the secure Orbex wallet, with no fees
  • Orbex prepaid card and mobile app allows you to fund, trade and transfer directly from your wallet
  • Member of the Investor Compensation Fund to compensate clients if the broker fails to meet its obligations
Cons
  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
  • Prepaid card only available to clients in the Gulf Region and Palestine
  • No copy trading solution
  • No top-tier regulation
Awards
  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com
  • Best FX Broker Europe 2020 - Global Banking & Finance Review
  • Best FX Broker Mena 2020 - Global Banking & Financing Review
  • Best Forex Broker 2019 - Global Banking & Finance Review
  • Best Trading Education Provider 2018
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto Forex, CFDs, indices, commodities, futures
Demo Account
Yes Yes
Minimum Deposit
$200 $200
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, CySEC, FSA CySEC, BaFin, FSC (Mauritius)
Mobile Apps
iOS & Android Yes
Trading App

IC Markets deliver mobile apps for their cTrader, MT4, MT5 and TradingView  platforms. They have been developed on Android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. Yet what really stands out is how they’ve managed to maintain the lightning-fast execution speed IC Markets is known for, right within the apps. It’s a seamless trading experience that feels both professional and highly responsive.

iOS App Rating
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rating full
3.1
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Android App Rating
rating empty
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4.2
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Margin Trading
Yes No
MetaTrader 4
Yes Yes
MetaTrader 5
Yes No
cTrader
Yes No
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes No
Autochartist
No No
eSignal
No No
Trading Central
Yes Yes
STP Account
No No
ECN Account
Yes Yes
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Auto Trading
Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
Launched in February 2023, the IC Social app offers an intuitive way to learn, share, and mirror the positions of other traders with just a few clicks. Additionally, the app features risk management tools and supports dedicated trading groups. Alternatively, IC Markets grants access to Signal Start, along with well-known third-party copy trading platforms including ZuluTrade and cTrader Copy.
Social Trading
Yes No
Trade Signals
Signal Start Yes
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • JPY
  • CHF
  • HKD
  • SGD
Commodities
  • Gold
  • Oil
  • Silver
  • Orange Juice
  • Cocoa
  • Coffee
  • Corn
  • Soybeans
  • Sugar
  • Wheat
  • Natural Gas
  • Gold
  • Silver
CFD
You gain access to over 2,250 CFDs, available for trading 24/5 across popular markets such as forex, commodities, indices, stocks, and bonds. Utilizing deep liquidity and advanced bridge technology, IC Markets ensures optimal conditions for scalpers, hedgers, and algo traders alike. Go long or short on CFDs across key asset classes. Traders can choose between the powerful MT4 or MT5 platforms and conduct comprehensive analysis using the pre-included charting tools and Expert Advisors.
Leverage
1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:500
FTSE Spread
1.0 1.5
GBPUSD Spread<
0.23 From 0
Oil Spread
0.03 1.8
Stocks Spread
0.02 Variable
Forex
IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot. Orbex offers 44 currency pairs with minimum spreads from 1.5 pips in the standard account, which is not as competitive as other brands. On the plus side, some traders will be pleased to see high leverage up to 1:500.
Assets
75 44
GBPUSD Spread
0.23 From 0
EURUSD Spread
0.02 From 0
EURGBP Spread
0.27 From 0.5
Cryptocurrency
IC Markets offers 20+ cryptocurrencies which are tradable via CFDs, including lesser-known tokens such as Avalanche, Kusama and Uniswap. Commission-free trading is available, and experienced crypto traders can access high leverage up to 1:200 in the MetaTrader platforms.
Spread
BTC 42.036
Coins
  • BTC
  • BCH
  • DOT
  • DSH
  • EMC
  • EOS
  • ETH
  • LNK
  • LTC
  • NMC
  • PPC
  • XLM
  • XRP
  • ADA
  • BNB
  • DOG
  • UNI
  • XTZ
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
IC Markets Orbex
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