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FXCM
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IC Markets

FXCM vs IC Markets: which broker is better in 2026?

We compare FXCM and IC Markets — two forex & CFD brokers — side by side across regulation, fees, platforms, minimum deposit, and our editorial scores. Based on our overall editorial score, IC Markets edges ahead (4.1/5), but the right choice depends on what matters most to you — check the breakdown below.

Side-by-side comparison

CriteriaFXCMIC Markets
Overall score 3.5 4.1
Regulation & safety 3.0 3.5
Fees & deposit 3.5 4.5
Platform & assets 4.0 4.5
User support 3.5 4.0
Trust score68/10080/100
Minimum depositVaries by account type — check the official siteVaries by account type — check the official site
Demo accountAvailableAvailable
PlatformsTrading Station (web/desktop/mobile), MetaTrader 4, TradingView (integrated), APIMetaTrader 4, MetaTrader 5, cTrader, TradingView, WebTrader, IC Mobile App
Fee modelSpread model or spread + commission (Active Trader) — varies; exact figures not yet verifiedSeveral account types (Raw Spread, Standard, Raw Pro/Pro+, cTrader Raw Spread, Swap Free) — the fee structure per account type has not been verified in detail

Pros & cons

FXCM
  • An established broker since 1999 with the mature Trading Station & MT4 platforms
  • Now backed by a large financial group (Jefferies/StoneX)
  • International entities regulated by FCA/ASIC/FSCA
  • Permanently banned from the US market (2017) + a US$7 million fine for hiding a conflict of interest — a serious regulatory record
  • Trust was dented by that case; verify the entity serving your region
  • Leveraged products are high-risk
IC Markets
  • One of the most popular raw-spread ECN brokers for scalping/algo trading (very low costs)
  • Very complete platform selection (MT4/MT5/cTrader/TradingView)
  • Regulated by ASIC (Australia) + CySEC for certain entities
  • A class-action record (reported since 2024) alleging it misled investors — no verdict yet, but a relevant public fact
  • Many clients via offshore entities (Seychelles/Bahamas)
  • Leverage is high-risk

Regulation at a glance

FXCM

International entities regulated by the FCA (UK), ASIC (Australia), FSCA (South Africa), and others. IMPORTANT: FXCM has been permanently banned from the US market since 2017 (see the risk note).

IC Markets

Exact license numbers not yet verified — the official site mentions multi-regulation but the detailed regulation page was inaccessible during our check. Verify directly with the regulator (ASIC, CySEC, or the Seychelles FSA depending on the entity) before signing up.