fxcl markets
ICICI Direct
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
fxcl markets was founded in 2006 and is headquartered in Cayman Islands, while ICICI Direct was established in 1994 and is based in India. fxcl markets holds licences including Financial Services Authority (FSA) number 1637, while ICICI Direct is regulated by Securities and Exchange Board of India (SEBI) among others. fxcl markets serves 10,000+ clients worldwide; ICICI Direct has 2,000,000+. The minimum deposit is $250 at fxcl markets and $0 at ICICI Direct.
| Feature | fxcl markets | ICICI Direct |
|---|---|---|
| Min. Deposit | $250 | $0 |
| Regulation | Financial Services Authority (FSA) number 1637 | Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange |
| Founded | 2006 | 1994 |
| Country | Cayman Islands | India |
| Clients | 10,000+ | 2,000,000+ |
Fees
Fees are a critical factor when choosing between fxcl markets and ICICI Direct, directly affecting your bottom line as a trader. ICICI Direct has a lower barrier to entry with a minimum deposit of $0 (vs $250 at fxcl markets). Neither broker charges withdrawal fees. ICICI Direct applies inactivity fees on dormant accounts; fxcl markets does not. Overall, ICICI Direct scores higher on fees in our assessment.
| Feature | fxcl markets | ICICI Direct |
|---|---|---|
| Min. Deposit | $250 | $0 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
fxcl markets offers MT4, MT5, cTrader, while ICICI Direct 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. The two brokers are closely matched on platform offering.
| Feature | fxcl markets | ICICI Direct |
|---|---|---|
| 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, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how fxcl markets and ICICI Direct 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. fxcl markets scores higher overall in education and research.
| Feature | fxcl markets | ICICI Direct |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. fxcl markets accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while ICICI Direct supports 1 (bank transfer). fxcl markets uniquely supports credit/debit card and PayPal and Skrill and Neteller among the two brokers. fxcl markets scores higher on deposit and withdrawal flexibility.
| Feature | fxcl markets | ICICI Direct |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | No |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both fxcl markets and ICICI Direct offer live chat support. Both provide phone support. Email support is available at both brokers. fxcl markets supports 8 languages and ICICI Direct supports 13, giving ICICI Direct broader global reach. Both brokers are comparable on support quality.
| Feature | fxcl markets | ICICI Direct |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, Romana, Turkce |