IC Markets
Saxo Markets
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Overview
IC Markets was founded in 2007 and is headquartered in Australia, while Saxo Markets was established in 2012 and is based in Denmark. IC Markets holds licences including Australian Securities and Investment Commission (ASIC), while Saxo Markets is regulated by Financial Conduct Authority (FCA) among others. IC Markets serves 60,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $200 at IC Markets and $6500 at Saxo Markets.
| Feature | IC Markets | Saxo Markets |
|---|---|---|
| Min. Deposit | $200 | $6500 |
| Regulation | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA) |
| Founded | 2007 | 2012 |
| Country | Australia | Denmark |
| Clients | 60,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between IC Markets and Saxo Markets, directly affecting your bottom line as a trader. IC Markets has a lower barrier to entry with a minimum deposit of $200 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while IC Markets does not, giving IC Markets an edge for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; IC Markets does not. IC Markets charges deposit fees; Saxo Markets does not. Overall, IC Markets scores higher on fees in our assessment.
| Feature | IC Markets | Saxo Markets |
|---|---|---|
| Min. Deposit | $200 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
IC Markets offers MT4, MT5, cTrader, while Saxo 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 | IC Markets | Saxo 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 | Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how IC Markets and Saxo Markets compare. IC Markets runs regular live webinars; Saxo Markets does not. Both provide video tutorials. IC Markets publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. IC Markets maintains an archive of past webinars for on-demand viewing. IC Markets scores higher overall in education and research.
| Feature | IC Markets | Saxo Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
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 Saxo 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 | Saxo 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 Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. IC Markets supports 8 languages and Saxo Markets supports 2, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | IC Markets | Saxo 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 |