FxOpen vs IC Markets 2026: Which Broker is Better?
When comparing FxOpen and IC Markets, traders encounter two distinct offerings tailored for different needs. FxOpen, headquartered in London and regulated by the FCA and ASIC, appeals to budget-conscious traders with its minimal deposit requirement of just $1 and availability of the cTrader platform. In contrast, IC Markets, based in Sydney and regulated by ASIC and CySEC, attracts those seeking ultra-low spreads and fast execution speeds, albeit with a higher minimum deposit of $200. While FxOpen is ideal for those prioritising low entry costs and ECN execution, IC Markets is suited for traders who value competitive spreads and fast trade execution.
FxOpen
IC Markets
| FxOpen | IC Markets | |
|---|---|---|
| BrokerRank Score | 3.7/5 | 3.9/5 ✓ |
| Min. Deposit | $1 ✓ | $200 |
| Spread from | 0 pips | 0 pips |
| Max Leverage | 1:500 | 1:500 |
| Regulation | FCA, ASIC | ASIC, CySEC |
| Platforms | MT4, MT5, cTrader | MT4, MT5, TradingView |
IC Markets is the better choice overall, scoring 3.9/5 vs 3.7/5 on BrokerRank's independent rating. On fees, FxOpen offers lower spreads (0 pips).
See full side-by-side comparison belowFxOpen vs IC Markets: Key Differences
FxOpen
WinnerIC Markets
Still deciding between FxOpen and IC Markets?
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Fees Comparison
FxOpen
Lower feesIC Markets
BrokerRank Verdict
Who Should Choose Which?
FxOpen
3.7/5
Choose FxOpen if you want…
- Lower minimum deposit ($1)
- More established (est. 2005)
IC Markets
3.9/5
Choose IC Markets if you want…
- Higher overall rating (3.9/5)
- More market types (6)
- More platforms (4 supported)
Also consider
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Both FxOpen & IC Markets are available in
Frequently Asked Questions
1Is FxOpen better than IC Markets?
IC Markets scores higher overall on our independent rating system. FxOpen holds a 3.7/5 rating vs IC Markets's 3.9/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, FxOpen or IC Markets?
FxOpen offers spreads from 0 pips, while IC Markets starts at 0 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for FxOpen vs IC Markets?
FxOpen requires a minimum deposit of $1. IC Markets requires $200.
4Which broker is safer, FxOpen or IC Markets?
FxOpen is regulated by FCA, ASIC, while IC Markets holds licences from ASIC, CySEC.
5What trading platforms do FxOpen and IC Markets support?
FxOpen supports MT4, MT5, cTrader. IC Markets supports MT4, MT5, TradingView, Proprietary Mobile.
6Can I use both FxOpen and IC Markets?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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