IC Markets
Phoenix Markets
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Overview
IC Markets was founded in 2007 and is headquartered in Australia, while Phoenix Markets was established in 2013 and is based in Cyprus. IC Markets holds licences including Australian Securities and Investment Commission (ASIC), while Phoenix Markets is regulated by Cyprus Securities and Exchange Commission (CySEC) among others. IC Markets serves 60,000+ clients worldwide; Phoenix Markets has 10,000+. The minimum deposit is $200 at IC Markets and $500 at Phoenix Markets.
| Feature | IC Markets | Phoenix Markets |
|---|---|---|
| Min. Deposit | $200 | $500 |
| Regulation | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) |
| Founded | 2007 | 2013 |
| Country | Australia | Cyprus |
| Clients | 60,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between IC Markets and Phoenix Markets, directly affecting your bottom line as a trader. IC Markets has a lower barrier to entry with a minimum deposit of $200 (vs $500 at Phoenix Markets). Neither broker charges withdrawal fees. IC Markets charges deposit fees; Phoenix Markets does not. Overall, IC Markets scores higher on fees in our assessment.
| Feature | IC Markets | Phoenix Markets |
|---|---|---|
| Min. Deposit | $200 | $500 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
IC Markets offers MT4, MT5, cTrader, while Phoenix Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. IC Markets supports social and copy trading features, which Phoenix Markets does not offer. The two brokers are closely matched on platform offering.
| Feature | IC Markets | Phoenix 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, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4,mac,Android.iPhone/iPad |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how IC Markets and Phoenix 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. IC Markets scores higher overall in education and research.
| Feature | IC Markets | Phoenix Markets |
|---|---|---|
| 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. IC Markets accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while Phoenix Markets supports 2 (bank transfer, credit/debit card). IC Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. IC Markets scores higher on deposit and withdrawal flexibility.
| Feature | IC Markets | Phoenix Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| 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 IC Markets and Phoenix Markets offer live chat support. Both provide phone support. Email support is available at both brokers. IC Markets supports 8 languages and Phoenix Markets supports 2, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | IC Markets | Phoenix Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, and Chinese |