IC Markets
Wealthsimple
VS
Higher Rated
IC Markets
Capital at risk · T&Cs apply
In comparing IC Markets and Wealthsimple, the key distinction lies in their target clientele and market offerings. IC Markets, with its ultra-low spreads and wide range of tradable assets including forex, CFDs, and cryptocurrencies, appeals to experienced traders seeking high leverage and fast execution. In contrast, Wealthsimple is tailored for Canadian investors interested in commission-free stock and ETF trading, offering a user-friendly platform with additional benefits like TFSA and RRSP accounts. While IC Markets is ideal for active traders requiring advanced platforms like MT4, MT5, and TradingView, Wealthsimple caters to beginners or passive investors focused on long-term wealth management without the complexity of forex or CFD markets.
IC Markets
Wealthsimple
| IC Markets | Wealthsimple | |
|---|---|---|
| BrokerRank Score | 3.9/5 ✓ | 3.2/5 |
| Min. Deposit | $200 | $0 ✓ |
| Spread from | 0 pips | 0 pips |
| Max Leverage | 1:500 ✓ | 1:1 |
| Regulation | ASIC, CySEC ✓ | SEC |
| Platforms | MT4, MT5, TradingView | Proprietary Web, Proprietary Mobile |
IC Markets is the better choice overall, scoring 3.9/5 vs 3.2/5 on BrokerRank's independent rating. On fees, IC Markets offers lower spreads (0 pips).
See full side-by-side comparison belowIC Markets
Wealthsimple
IC Markets
Wealthsimple
Lower fees
IC Markets
3.9/5
Choose IC Markets if you want…
Wealthsimple
3.2/5
Choose Wealthsimple if you want…
IC Markets scores higher overall on our independent rating system. IC Markets holds a 3.9/5 rating vs Wealthsimple's 3.2/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
IC Markets offers spreads from 0 pips, while Wealthsimple starts at 0 pips. Check the fees section above for a full breakdown.
IC Markets requires a minimum deposit of $200. Wealthsimple requires $0.
IC Markets is regulated by ASIC, CySEC, while Wealthsimple holds licences from SEC.
IC Markets supports MT4, MT5, TradingView, Proprietary Mobile. Wealthsimple supports Proprietary Web, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Only 26% of Brokers Are Truly Fee-Free
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58% of Brokers Hold a Single Licence
BrokerRank Research — Regulation quality analysis
71% of Retail Traders Lose Money
BrokerRank Research — Loss rates across 50 EU brokers
76% of Brokers Use Proprietary Platforms
BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.