Written by ForexBrokers.com
In this head to head comparison of IC Markets vs Spreadex, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IC Markets vs Spreadex: IC Markets launched in 2007, while Spreadex dates back to 1999. Neither broker is publicly traded or operates as a bank.
Regulation and trust: IC Markets holds two Tier-1 licenses (considered highly trusted by ForexBrokers.com) and no Tier-2 licenses; Spreadex holds one Tier-1 license and no Tier-2 licenses. On ForexBrokers.com’s 99-point Trust Score—90–99 highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, below 59 do not trust—IC Markets scores 83 (trusted) and Spreadex scores 70 (average risk).
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Year Founded | 2007 | 1999 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When it comes to commissions and fees, IC Markets stands out as a low-cost choice for forex traders. Its commission-based Raw Spread accounts offer very small effective spreads, and its commission-free Standard account also keeps pricing competitive. On EUR/USD, IC Markets reported an average spread of 0.02 pips on its Raw Spread pricing, and after commissions the all-in cost can be about 0.62 pips on cTrader or 0.72 pips on MetaTrader. IC Markets also offers lower pricing for active traders who trade more than 100 standard lots per month. It earns a 5-star rating and ranks #5 out of 36 brokers in the Commissions and Fees category.
Spreadex is also fairly competitive, but its pricing is not as low as IC Markets overall. In January 2024, Spreadex showed an average EUR/USD spread of 0.81 pips, with a minimum spread of 0.6 pips available 60% of the time during the month. This makes it a solid option for traders who want simple spread-based pricing, but it does not match the lower all-in trading costs offered by IC Markets. Spreadex has a 4-star rating and is ranked #26 out of 36 brokers for Commissions and Fees.
In short, IC Markets is the better pick for lower commissions and fees, especially for frequent forex traders and those using commission-based accounts. Spreadex is still a reasonable choice, but IC Markets offers tighter pricing and a stronger overall value in this category.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $200 | $0 |
| Average spread (EUR/USD) - Standard account | 0.62 | 0.81 |
| All-in Cost EUR/USD - Active | 0.62 | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
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IC Markets and Spreadex both let you trade forex as CFDs, and both also offer cryptocurrency CFDs rather than actual crypto. IC Markets gives access to 3,583 tradeable symbols and 61 forex pairs, while Spreadex lists a much larger overall selection with 10,000 tradeable symbols but a slightly smaller forex lineup of 52 pairs. In simple terms, IC Markets has a wider forex range, while Spreadex offers more total markets to choose from.
There are also some clear differences in what you can buy directly. IC Markets offers exchange-traded securities on international exchanges, so you can invest in real shares outside the U.S., and it also supports copy trading. Spreadex does not offer either of those features. On independent ratings for range of investments, Spreadex comes out ahead with 5 stars and a #13 ranking out of 36 brokers, compared with IC Markets at 4.5 stars and #22 out of 36.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 10000 |
| Forex Pairs (Total) | 61 | 52 |
| U.S. Stocks (Shares) | No | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| Cryptocurrency (Underlying) | No | No |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
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IC Markets and Spreadex both give traders a free demo account, web-based trading, and the ability to trade straight from a chart. They are also rated 4 out of 5 stars for trading platforms and tools, so each offers a solid experience for everyday trading needs. Where IC Markets stands out is choice: it offers a Windows desktop platform, copy trading, and access to both MetaTrader 4 and MetaTrader 5, which may suit traders who want more platform options and familiar tools.
Spreadex takes a different route with its own in-house trading platform, something IC Markets does not provide. That can appeal to traders who prefer a custom-built system instead of MetaTrader. In ForexBrokers.com’s Trading Platforms and Tools ranking, IC Markets is placed much higher at #17 out of 36 brokers, while Spreadex is ranked #35, suggesting IC Markets has the edge overall for platform variety and trading tools.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 58 |
| Charting - Trade From Chart | Yes | Yes |
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IC Markets and Spreadex both offer mobile trading apps for iPhone and Android, and each includes price alerts plus the ability to draw trendlines on charts. Both apps are rated 4 out of 5 stars for mobile trading, but IC Markets has a clearer edge for charting tools. Its app includes 30 technical studies and auto-saves chart drawings, while Spreadex does not list technical studies and does not auto-save drawings. Neither broker offers watchlist symbol syncing between the app and the online account.
In terms of overall mobile app standing, IC Markets ranks #22 out of 36 brokers in ForexBrokers.com’s Mobile Trading Apps category, compared with Spreadex at #34. For traders who want a mobile app with more chart features and better convenience when editing drawings, IC Markets is the stronger pick. Spreadex still covers the basics well, but IC Markets offers a more useful experience for active chart watchers.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
IC Markets and Spreadex both give traders plenty of useful market research tools. Each broker provides daily market commentary, forex news from top sources like Bloomberg and Reuters, a sentiment tool that shows long and short positioning, and an economic calendar with upcoming global events. Both also include Autochartist, which can help spot trading ideas using technical and fundamental analysis.
Where IC Markets has an edge is in Trading Central support, which Spreadex does not offer. That extra tool helps IC Markets stand out for research depth, even though both brokers are rated 4 stars for research. In ForexBrokers.com’s rankings, IC Markets sits higher at #21 out of 36 brokers, while Spreadex is ranked #28 out of 36.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners looking for trading education, IC Markets comes out ahead of Spreadex in a few key areas. IC Markets offers forex and CFD education, monthly online client webinars, and both beginner and advanced video libraries, giving new traders more ways to learn at their own pace. Spreadex also has at least 10 beginner videos, but it does not appear to offer monthly webinars or a comparable set of advanced videos, and it does not meet the standard for forex or CFD education content in the same way IC Markets does.
Both brokers are rated 4 out of 5 stars for Education, but the wider picture shows IC Markets performing better for learning support. On ForexBrokers.com, IC Markets ranks #16 out of 36 brokers for Education, while Spreadex ranks #34, which suggests IC Markets offers a stronger overall learning experience for beginners and more experienced traders alike.
| Feature |
IC Markets
|
Spreadex
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than Spreadex. IC Markets finished with an overall rank of #21, while Spreadex finished with an overall rank of #33.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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Spreadex
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| Trust Score | 83 | 70 |
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IC Markets vs Spreadex: neither broker allows purchases of actual (delivered) cryptocurrencies, but both offer cryptocurrency CFD trading.
IC Markets vs Spreadex: both brokers do not support ACH or SEPA transfers and both accept bank wire transfers; IC Markets additionally supports PayPal and Skrill while Spreadex does not, and support for Visa or Mastercard is not specified for either.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IC Markets | Spreadex | |
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| Trust Score | 83 | 70 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Spreadex Review |
| Broker Screenshots | IC Markets | Spreadex | |
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| Regulation | IC Markets | Spreadex | |
|---|---|---|---|
| Trust Score | 83 | 70 | |
| Year Founded | 2007 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IC Markets | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IC Markets | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 10000 | |
| Forex Pairs (Total) | 61 | 52 | |
| U.S. Stocks (Shares) | No | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| Cryptocurrency (Underlying) | No | No | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IC Markets | Spreadex | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.62 | 0.81 | |
| All-in Cost EUR/USD - Active | 0.62 | N/A | |
| Inactivity Fee | No | No | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IC Markets | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $200 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | No |
| Trading Platforms | IC Markets | Spreadex | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | Yes | No |
| Trading Tools | IC Markets | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 30 | 58 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | Spreadex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IC Markets | Spreadex | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | Spreadex | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | IC Markets | Spreadex | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IC Markets Review | Spreadex Review |
| Overall | IC Markets | Spreadex | |
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| Trust Score | 83 | 70 | |
| Winner | check_circle | ||
| Review | IC Markets Review | Spreadex Review |
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