BCS Forex
IC Markets
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Overview
BCS Forex was founded in 2016 and is headquartered in Cyprus, while IC Markets was established in 2007 and is based in Australia. BCS Forex holds licences including Cyprus Securities and Exchange Commission (CySEC), while IC Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. BCS Forex serves 10,000+ clients worldwide; IC Markets has 60,000+. The minimum deposit is $100 at BCS Forex and $200 at IC Markets.
| Feature | BCS Forex | IC Markets |
|---|---|---|
| Min. Deposit | $100 | $200 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2016 | 2007 |
| Country | Cyprus | Australia |
| Clients | 10,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between BCS Forex and IC Markets, directly affecting your bottom line as a trader. BCS Forex has a lower barrier to entry with a minimum deposit of $100 (vs $200 at IC Markets). BCS Forex charges withdrawal fees while IC Markets does not, a notable advantage for frequent withdrawers. BCS Forex applies inactivity fees on dormant accounts; IC Markets does not. IC Markets charges deposit fees; BCS Forex does not. Overall, IC Markets scores higher on fees in our assessment.
| Feature | BCS Forex | IC Markets |
|---|---|---|
| Min. Deposit | $100 | $200 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
BCS Forex offers MT4, MT5, cTrader, while IC Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. IC Markets supports social and copy trading features, which BCS Forex does not offer. The two brokers are closely matched on platform offering.
| Feature | BCS Forex | IC Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,Desktop,iPhone/iOS | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how BCS Forex and IC Markets compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | BCS Forex | IC Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. BCS Forex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while IC Markets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). IC Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. IC Markets scores higher on deposit and withdrawal flexibility.
| Feature | BCS Forex | IC Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both BCS Forex and IC Markets offer live chat support. Both provide phone support. Email support is available at both brokers. BCS Forex supports 2 languages and IC Markets supports 8, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | BCS Forex | IC Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more |