IC Markets vs FXTM

Quick Answer

Best for	Winner	Why
Starting small	IC Markets	No minimum at its global company against $30 on Micro
Top-tier licences in the group	IC Markets	ASIC and CySEC; FXTM holds no top-tier licence
No inactivity fee	IC Markets	FXTM: $10 a month after 3 months without trading
Copy trading	IC Markets	FXTM: No copy trading service on its site
cTrader	IC Markets	FXTM doesn’t offer it

A “winner” here means the better published figure on that one line. It is not a recommendation: the right broker depends on where you live and how you trade.

Comparison Table

	IC Markets	FXTM
Operating since	ASIC licence since 2009	Over ten years (FXTM’s own figure)
Company for international clients	Raw Trading Ltd, licensed by the FSA in Seychelles (SD018)	Exinity Limited, licensed by the FSC in Mauritius (Investment Dealer, C113012295)
Regulators in the group	ASIC, CySEC, FSA Seychelles, SCB Bahamas, CMA Kenya	FSC Mauritius, FSCA South Africa, CMA Kenya (plus a UAE CMA licence for promotion only)
Minimum deposit	None at the global company; $200 at the Australian company	$30 on Micro; $100 on Rewards Plus, $200 on Rewards, $500 on Advantage
Commission-free spreads	Standard from 0.8 pips	Rewards from 0.9 pips; Rewards Plus from 1.5 pips; Micro from 1.7 pips
Raw-spread account	Raw Spread from 0.0 pips (EUR/USD average 0.1) plus $3.50 per side	Advantage from 0.0 pips plus $3.50 per side on forex
Maximum leverage	1:5000 on forex at the global company (tiered by position size); 1:30 in Australia and the EU	1:5000 on Rewards and Rewards Plus; 1:3000 on Advantage; 1:1000 on Micro (Kenya up to 1:400)
Platforms	MT4, MT5, cTrader, TradingView	MT4, MT5, FXTM app
Copy trading	IC Social, cTrader Copy, ZuluTrade and Signal Start	No copy trading service on its site
Inactivity fee	Not listed	$10 a month after 3 months without trading
Withdrawal fee	None from IC Markets	Card $3, bank wire $30; Skrill, Neteller and crypto free
Swap-free	Swap-free accounts with a flat holding fee	Swap-free option on Rewards Plus, Rewards and Advantage
Bonus	100% first-deposit bonus up to $1,000, then 50% (global company)	Welcome bonus paid in Reward Points (up to $500) and FXTM Rewards loyalty points

Figures come from each broker’s official site, checked on 11 October 2026. Spreads move through the day, and conditions vary by country and by the company that holds your account.

Regulation and Safety

IC Markets’ group holds ASIC and CySEC licences plus offshore licences in Seychelles, the Bahamas and Kenya. International clients are served by its Seychelles company, where IC says client money is insured up to US$1,000,000. CySEC fined its EU company €250,000 in 2024, which the company has taken to judicial review.

FXTM is the trading brand of the Exinity group. International clients deal with Exinity Limited, licensed by the FSC in Mauritius (C113012295), which also holds an FSCA licence in South Africa (FSP 50320); Kenyan clients deal with Exinity Capital East Africa, licensed by Kenya’s CMA. FXTM names no UK or EU company, and says it keeps client funds in segregated accounts at top-tier banks.

On paper IC Markets has the stronger regulatory footprint, but that only helps if your account sits with one of its strictly regulated companies. Check which company your country places you with before you deposit.

Trading Costs

On commission-free accounts, IC Markets lists: Standard from 0.8 pips. FXTM lists: Rewards from 0.9 pips; Rewards Plus from 1.5 pips; Micro from 1.7 pips. “From” figures are minimums, so expect wider live spreads, especially around news.

Both offer a raw-spread account. IC Markets: Raw Spread from 0.0 pips (EUR/USD average 0.1) plus $3.50 per side. FXTM: Advantage from 0.0 pips plus $3.50 per side on forex. For frequent traders, a raw account usually costs less per trade than a spread-only one.

IC Markets lists no inactivity fee. FXTM’s inactivity fee: $10 a month after 3 months without trading. Withdrawal fees: IC Markets: none from IC Markets; FXTM: Card $3, bank wire $30; Skrill, Neteller and crypto free.

Platforms and Copy Trading

IC Markets offers MT4, MT5, cTrader and TradingView. FXTM offers MT4, MT5 and FXTM app.

IC Markets’s copy trading: IC Social, cTrader Copy, ZuluTrade and Signal Start. FXTM has no copy trading service of its own (no copy trading service on its site). Copying another trader doesn’t remove risk: you can lose money as fast as trading yourself.

Leverage

IC Markets’s maximum leverage: 1:5000 on forex at the global company (tiered by position size); 1:30 in Australia and the EU. FXTM’s: 1:5000 on Rewards and Rewards Plus; 1:3000 on Advantage; 1:1000 on Micro (Kenya up to 1:400).

A higher maximum is not an advantage in itself. Leverage multiplies losses as fast as gains, so beginners should use far less than either broker allows.

Which One Should You Choose?

Go with IC Markets if:

• You trade often and want raw spreads
• You want cTrader or TradingView
• You want a group with ASIC and CySEC licences

Go with FXTM if:

• You want to start small on a $30 Micro cent account
• You want a raw-spread account at $3.50 per side
• You want loyalty points on the volume you trade

Whichever you choose, test a small withdrawal early, verify your account before you need your money, and risk only what you can afford to lose.

FAQ

Which has the lower minimum deposit, IC Markets or FXTM? IC Markets. IC Markets: none at the global company; $200 at the Australian company. FXTM: $30 on Micro; $100 on Rewards Plus, $200 on Rewards, $500 on Advantage.

How are IC Markets and FXTM regulated? IC Markets’s international clients deal with Raw Trading Ltd, licensed by the FSA in Seychelles (SD018). FXTM’s deal with Exinity Limited, licensed by the FSC in Mauritius (Investment Dealer, C113012295). Group regulators: IC Markets: ASIC, CySEC, FSA Seychelles, SCB Bahamas, CMA Kenya; FXTM: FSC Mauritius, FSCA South Africa, CMA Kenya (plus a UAE CMA licence for promotion only).

Which is cheaper to trade with? It depends on the account. Commission-free: IC Markets: Standard from 0.8 pips; FXTM: Rewards from 0.9 pips; Rewards Plus from 1.5 pips; Micro from 1.7 pips. Raw accounts: IC Markets: Raw Spread from 0.0 pips (EUR/USD average 0.1) plus $3.50 per side; FXTM: Advantage from 0.0 pips plus $3.50 per side on forex.

Does either charge an inactivity fee? IC Markets: not listed. FXTM: $10 a month after 3 months without trading.

Do both offer copy trading? IC Markets: IC Social, cTrader Copy, ZuluTrade and Signal Start. FXTM: no copy trading service on its site.

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