Interactive Brokers wins on trust, market breadth, and cost efficiency at scale, offering a wide range of assets, including real stocks, futures, bonds, spot crypto, and forex. IC Markets wins on the leveraged forex and CFD workflow, with support for TradingView, MetaTrader, and cTrader, micro lots, higher leverage, and simpler funding.
This is not a matchup between two versions of the same thing. IC Markets is a specialist leveraged forex and CFD broker built around raw spreads and the TradingView, MetaTrader, and cTrader ecosystems. Interactive Brokers is a Nasdaq-listed, S&P 500 multi-asset institution that also operates one of the cheapest currency desks in retail finance. The relevant question is not which is better in the abstract but which type of account you actually need.
Interactive Brokers' strengths include trust, breadth, and strong financing. It joined the S&P 500 in August 2025 and, by year's end, managed 4.4 million client accounts and approximately $780 billion in customer equity. The firm operates under rigorous, multi-layered regulation from the SEC, FCA, ASIC, and MAS. One account provides access to forex, stocks, ETFs, options, futures, bonds, funds, and spot cryptocurrencies on global exchanges, with CFDs available to eligible non-U.S. clients. It is one of the few brokers in this series that accept U.S. residents. Idle cash works too: USD balances over 10,000 currently earn approximately 3% annually on eligible accounts, and margin financing rates are among the industry's lowest. At institutional size, its forex pricing is tighter of the two, with tiered commissions ranging from 0.08 to 0.2 basis points on interbank spreads.
IC Markets primarily focuses on daily leveraged forex trading. It supports MT4, MT5, cTrader, and TradingView, whereas Interactive Brokers offers none of the first three. It also offers copy trading options through cTrader Copy, Myfxbook, and ZuluTrade, whereas Interactive Brokers offers none. The minimum trading size at IC Markets is 0.01 lots, whereas Interactive Brokers requires a minimum order of 25,000 units (0.25 lots). Unlike IBKR, which charges a $2 minimum commission per order, IC Markets has no minimum commission. IC Markets also offers leverage up to 1:500 through its offshore entities, whereas IBKR's forex leverage is limited by margin caps and can trigger automated liquidations. Funding at IC Markets is straightforward, with options such as cards, PayPal, and Skrill, whereas Interactive Brokers accepts only bank transfers. Additionally, opening an account at IC Markets is faster and involves less paperwork.
Scores compared
Category wins: IC Markets 0 · Interactive Brokers 10
IC Markets vs Interactive Brokers comparison
Feature
IC Markets
Interactive Brokers
Scores
Overall Rating
4.4
4.8
Best value for Overall Rating
Safety & Regulation
IC Markets vs Interactive Brokers: full comparison
IC Markets vs Interactive Brokers comparison
Feature
IC Markets
Interactive Brokers
Company
Established
-
1977
Headquarters
Level 4, 50 Carrington Street, Sydney, NSW 2000.
One Pickwick Plaza, Greenwich, CT 06830 USA
Broker Type
Pros and cons
IC Markets
+Very low FX spreads on majors
+Tier-1 regulation (FCA)
+Strong platform lineup (MT4/MT5 + web)
+Good ETF and stock coverage
−Higher min deposit than some rivals
−Overnight financing can be pricey
Interactive Brokers
+Regulated by multiple Tier 1 authorities, including the FCA, SEC, FINRA, ASIC, and MAS
+Publicly listed on Nasdaq (IBKR), with audited financials and substantial capital backing
+Over $15 billion in equity capital
+No minimum deposit to open an account
+Direct market access execution with IB SmartRouting for competitive fills
Broad choice of account base currencies
Which is better for…
Safety and trust
Interactive Brokers
Interactive Brokers is a Nasdaq-listed S&P 500 constituent with 4.4 million accounts, approximately $780 billion in client equity, and licenses from the SEC, FCA, ASIC, and MAS. IC Markets, in contrast, is soundly regulated by ASIC and CySEC, but it is privately held and operates offshore entities.
Range of markets
Interactive Brokers
Interactive Brokers offers real stocks, ETFs, options, futures, bonds, funds, and spot currencies in a single account. Additionally, eligible non-US clients can access more than 8,000 CFDs. In contrast, IC Markets offers 2,200+ instruments, all CFDs, and does not include ownership of the underlying asset.
Leveraged forex trading
IC Markets
IC Markets offers micro lots starting at 0.01 lots, whereas IBKR’s minimum order size is 25,000 units (0.25 lots). It also has no per-order commission floor, unlike IBKR's $2 minimum commission, and offers leverage up to 1:500 offshore, whereas IBKR's forex is margin-capped. This is the workflow IC Markets is designed for.
Platforms and copy trading
IC Markets
IC Markets offers MT4, MT5, cTrader, and TradingView, along with copy trading options through IC Social, cTrader Copy, Myfxbook, and ZuluTrade. In contrast, Interactive Brokers neither supports MetaTrader nor cTrader and lacks copy trading features. However, its TWS, IBKR Desktop, and API are excellent for systematic trading, and it integrates with TradingView.
Forex costs at size
Interactive Brokers
Interactive Brokers' tiered commissions, ranging from 0.2 to 0.08 basis points on interbank prices, result in all-in EUR/USD costs of about 0.59 pips, slightly below IC Markets' 0.62, and decrease as volume increases. At typical retail levels, the two are nearly identical.
Frequently asked questions
On a standard lot, costs are nearly level, with all-in EUR/USD costs of roughly 0.59 pips at Interactive Brokers, including commission, compared to about 0.62 at IC Markets on cTrader. Interactive Brokers becomes more cost-effective at higher trading volumes due to its tiered commission structure. In contrast, IC Markets offers lower costs for small and micro trades because it has no $2 per-order minimum and no minimum trade size of 25,000 units, unlike Interactive Brokers.
Both brokers segregate client funds, but Interactive Brokers has a higher level of accountability. It is publicly listed, a member of the S&P 500, and regulated by top-tier authorities such as the SEC, FCA, ASIC, and MAS, with regional protections in place. IC Markets is also credibly regulated, primarily by ASIC and CySEC, and its offshore entities are licensed by the Seychelles FSA, though it remains a private company.
No. Interactive Brokers does not support MT4, MT5, or cTrader. Instead, it offers Trader Workstation, IBKR Desktop, the web portal, and GlobalTrader, along with a comprehensive API suite and TradingView integration.
No. The minimum forex order is 25,000 units (0.25 lots) of the base currency, excluding micro-lot strategies. IC Markets supports orders as low as 0.01 lots.
IC Markets offers up to 1:500 through its offshore entities and 1:30 to retail clients under ASIC and CySEC. Forex leverage at Interactive Brokers is substantially lower and margin-based, and positions that breach requirements face real-time automated liquidation rather than a traditional margin call.
Yes, Interactive Brokers is a US-based broker that accepts US residents, whereas IC Markets does not.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the risk of losing your money.
Costs depend on trade size. Measured all-in EUR/USD costs are roughly the same for a standard lot, about 0.59 pips at Interactive Brokers, including commission, versus about 0.62 on IC Markets' cTrader account. Beyond the standard lot size, IBKR offers an advantage because its commission tiers and cash interest offset financing costs. Below this threshold, IC Markets is more affordable and straightforward, since there are no minimum fees or ticket sizes to complicate things. IC Markets' flat per-lot pricing is easier to understand than IBKR's complex, multi-tiered schedule, which requires significant effort to interpret.
Our assessment shows that the key difference is what you trade. Investors and professionals seeking a single account for portfolio management, position sizing, and cash interest should consider Interactive Brokers. Beginners should be aware that neither broker is ideally suited to them, though IC Markets offers a gentler introduction. IC Markets is better suited for dedicated forex and CFD traders, EA users, copy traders, and micro-lot traders. Many experienced traders keep both brokers: one serves as their portfolio hub, and the other as their leveraged forex platform, since each fulfills different needs.
4.8
4.9
Best value for Safety & Regulation
Fees & Costs
4.5
4.7
Best value for Fees & Costs
Markets & Products
-
4.8
Best value for Markets & Products
Platforms & Execution
4.3
4.7
Best value for Platforms & Execution
Deposit & Withdrawal
-
4.2
Best value for Deposit & Withdrawal
Trading Tools
-
4.6
Best value for Trading Tools
Education
4.0
4.7
Best value for Education
Customer Service
-
3.8
Best value for Customer Service
Account Opening
-
4.3
Best value for Account Opening
ECN
DMA
Regulation
ASIC · CySEC · FSA
SEC · FINRA · FCA · CBI · CIRO · SFC · ASIC · MAS · FSA · SEBI
Best value for Regulation
Segregated Client Funds
✓ Yes
✓ Yes
Negative Balance Protection
✓ Yes
✓ Yes
Publicly Traded
-
✓ Yes
Languages
English, Spanish, French, German, Portuguese, Japanese, Italian, Greek, Mandarin, Chinese, Indonesian, Thai, Arabic, Vietnamese, Bahasa Indonesia
Standard Account - $0,
Raw Spread Account - $7 (per standard lot),
Raw Spread Account (cTrader) - $3 (per standard lot),
Raw Pro Account - $3 (per standard lot)
Raw Pro+ - $2 (per standard lot)
0.08 to 0.20 bps per trade size with a minimum of $2 (or equivalent)
+An extensive multi-asset range from a single account, spanning forex, stocks, ETFs, options, futures, bonds, and crypto
+Professional-grade platforms in TWS, plus the cleaner IBKR Desktop, and a TradingView integration
+Wide selection of major, minor, and exotic currency pairs
+Low commission-based forex pricing
+Competitive margin financing rates
+Adequate support for algorithmic and systematic trading
+Institutional-grade trade execution
+Sophisticated margin trading functionality
+Highly competitive margin financing rates
+Comprehensive free educational hub through IBKR Campus
+Robust selection of powerful research and analysis tools
−Not beginner-friendly, with a steep learning curve for the Trader Workstation
−The minimum order of 25,000 units (0.25 lots) excludes micro-lot traders
−Document-heavy account opening that takes longer than most retail brokers' account openings
−Funding is limited to bank transfers, with no card or e-wallet options
−Complex, multi-layered pricing that takes effort to understand
−Customer support quality is inconsistent and below the standard the platform sets
−No support for MetaTrader 4 or MetaTrader 5
−Real-time automated liquidation rather than traditional margin calls, which can catch unprepared traders off guard
Beginners
IC Markets
Neither IC Markets nor Interactive Brokers is a beginner-focused broker, but IC Markets' card and e-wallet funding, $200 minimum deposit, and familiar MetaTrader setup are more beginner-friendly than IBKR's document-heavy onboarding, bank-transfer-only funding, and the steep learning curve of the Trader Workstation.
