Finmax
IC Markets
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while IC Markets was established in 2007 and is based in Australia. Finmax holds licences including Financial Services Authority (FSA), while IC Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. Finmax serves 10,000+ clients worldwide; IC Markets has 60,000+. The minimum deposit is $0 at Finmax and $200 at IC Markets.
| Feature | Finmax | IC Markets |
|---|---|---|
| Min. Deposit | $0 | $200 |
| Regulation | Financial Services Authority (FSA) | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2008 | 2007 |
| Country | Bulgaria | Australia |
| Clients | 10,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between Finmax and IC Markets, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $200 at IC Markets). Neither broker charges withdrawal fees. Finmax applies inactivity fees on dormant accounts; IC Markets does not. IC Markets charges deposit fees; Finmax does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | IC Markets |
|---|---|---|
| Min. Deposit | $0 | $200 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Finmax 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 Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | 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,MT5 | 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 Finmax and IC Markets compare. IC Markets runs regular live webinars; Finmax does not. IC Markets has a video library; Finmax does not. IC Markets publishes daily market commentary; Finmax does not. IC Markets integrates third-party research tools (Trading Central, Autochartist); Finmax does not. IC Markets maintains an archive of past webinars for on-demand viewing. IC Markets scores higher overall in education and research.
| Feature | Finmax | IC Markets |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Finmax 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 | Finmax | 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 Finmax and IC Markets offer live chat support. Both provide phone support. Email support is available at both brokers. Finmax supports 2 languages and IC Markets supports 8, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | Finmax | 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 |