FXNet
IC Markets
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Overview
FXNet was founded in 2012 and is headquartered in Cyprus, while IC Markets was established in 2007 and is based in Australia. FXNet holds licences including Financial Conduct Authority (FCA), while IC Markets is regulated by Australian Securities and Investment Commission (ASIC) among others. FXNet serves 10,000+ clients worldwide; IC Markets has 60,000+. The minimum deposit is $50 at FXNet and $200 at IC Markets.
| Feature | FXNet | IC Markets |
|---|---|---|
| Min. Deposit | $50 | $200 |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2012 | 2007 |
| Country | Cyprus | Australia |
| Clients | 10,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between FXNet and IC Markets, directly affecting your bottom line as a trader. IC Markets has a lower barrier to entry with a minimum deposit of $200 (vs $50 at FXNet). Neither broker charges withdrawal fees. IC Markets charges deposit fees; FXNet does not. Overall, FXNet scores higher on fees in our assessment.
| Feature | FXNet | IC Markets |
|---|---|---|
| Min. Deposit | $50 | $200 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
FXNet offers MT4, MT5, cTrader, 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. The two brokers are closely matched on platform offering.
| Feature | FXNet | 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, Web Trader, Tablet & Mobile apps | 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 FXNet 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 | FXNet | 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. FXNet 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 | FXNet | 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 FXNet and IC Markets offer live chat support. Both provide phone support. Email support is available at both brokers. FXNet supports 2 languages and IC Markets supports 8, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | FXNet | 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 |