Binance
IC Markets
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Overview
Binance was founded in 2017 and is headquartered in Japan, while IC Markets was established in 2007 and is based in Australia. Binance holds licences including Unregulated, while IC Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. Binance serves 13500000 clients worldwide; IC Markets has 60,000+. The minimum deposit is $100 at Binance and $200 at IC Markets.
| Feature | Binance | IC Markets |
|---|---|---|
| Min. Deposit | $100 | $200 |
| Regulation | Unregulated | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2017 | 2007 |
| Country | Japan | Australia |
| Clients | 13500000 | 60,000+ |
Fees
Fees are a critical factor when choosing between Binance and IC Markets, directly affecting your bottom line as a trader. Binance has a lower barrier to entry with a minimum deposit of $100 (vs $200 at IC Markets). Binance charges withdrawal fees while IC Markets does not, a notable advantage for frequent withdrawers. Binance charges deposit fees; IC Markets does not. Overall, IC Markets scores higher on fees in our assessment.
| Feature | Binance | IC Markets |
|---|---|---|
| Min. Deposit | $100 | $200 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | Yes |
| CFD Fees | No | Yes |
Platforms
Binance offers MT4, MT5, cTrader, a proprietary platform, while IC Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Binance edges ahead on platform breadth and functionality in our scoring.
| Feature | Binance | 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 | Desktop, Android, iPhone/iPad, Mac | 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 Binance 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 | Binance | 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. Binance 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 | Binance | 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 Binance and IC Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Binance supports 2 languages and IC Markets supports 8, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | Binance | 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 |